Difference between revisions of "Decentralized Autonomous Charity"
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| − | + | '''Decentralized Autonomous Charity''' | |
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| + | A DAC is a flavor of a Decentralized Autonomous Organization (DAO). The significant difference is that our operations revolve around charity. And the difference between a Corporation and a DAO is that a DAO is a self sustaining non government related entity that is not incorporated, and has no formal legal structure (such as 501c3 or for-profit corporation). | ||
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| + | The primary reason that BiblePay is a DAC type DAO is a decision to not be yoked with traditional 501c3 responsibilities. 501c3's require a corporate entity to exist, and some beleive the tradeoff for receiving tax exempt deductions comes at a cost. One of those costs being that we could be a lightning rod for attacks by both world governments and Satanic organizations. Therefore as a DAC, we do not have the ability to offer tax deductible donations, but we also do not have any formal organization that can be sued or persecuted for doing God's work. | ||
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| + | ''' How to donate to the DAC ''' | ||
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| + | We have a global donation address that is unique in certain ways. One way is that we automatically allocate your gift to our vetted orphan charities (See our Charity list below). This means that first, our active orphans receive your donation to sustain their sponsorships. If your donation is so large that it allows us to sponsor more children, we will automatically expand our portfolio. | ||
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| + | ''' Our current charities ''' | ||
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| + | As of December 2020, we sponsor 96 children over 3 charities: 45 from Cameroon-One, 21 from Kairos Childrens Fund, and 30 from SAI.NGO. The primary reasons that we still sponsor with these partners include: We have existing relationships with these organizations and fail to find any problems, the monthly costs are low ($20-$40 per month each), we see the majority reaches the beneficiary, the children are truly in desperate need (these are not children living at home receiving stipends -- they are mostly homeless), these orgs provide limited schooling and health care and food, these orgs are Jesus based, they accept BIBLEPAY as a source of payment, and we have a propensity to continue with children we already started until we cannot afford the child or the organization is found to be questionable. | ||
Revision as of 19:51, 24 December 2020
Decentralized Autonomous Charity
A DAC is a flavor of a Decentralized Autonomous Organization (DAO). The significant difference is that our operations revolve around charity. And the difference between a Corporation and a DAO is that a DAO is a self sustaining non government related entity that is not incorporated, and has no formal legal structure (such as 501c3 or for-profit corporation).
The primary reason that BiblePay is a DAC type DAO is a decision to not be yoked with traditional 501c3 responsibilities. 501c3's require a corporate entity to exist, and some beleive the tradeoff for receiving tax exempt deductions comes at a cost. One of those costs being that we could be a lightning rod for attacks by both world governments and Satanic organizations. Therefore as a DAC, we do not have the ability to offer tax deductible donations, but we also do not have any formal organization that can be sued or persecuted for doing God's work.
How to donate to the DAC
We have a global donation address that is unique in certain ways. One way is that we automatically allocate your gift to our vetted orphan charities (See our Charity list below). This means that first, our active orphans receive your donation to sustain their sponsorships. If your donation is so large that it allows us to sponsor more children, we will automatically expand our portfolio.
Our current charities
As of December 2020, we sponsor 96 children over 3 charities: 45 from Cameroon-One, 21 from Kairos Childrens Fund, and 30 from SAI.NGO. The primary reasons that we still sponsor with these partners include: We have existing relationships with these organizations and fail to find any problems, the monthly costs are low ($20-$40 per month each), we see the majority reaches the beneficiary, the children are truly in desperate need (these are not children living at home receiving stipends -- they are mostly homeless), these orgs provide limited schooling and health care and food, these orgs are Jesus based, they accept BIBLEPAY as a source of payment, and we have a propensity to continue with children we already started until we cannot afford the child or the organization is found to be questionable.
