|By PR Newswire||
|February 11, 2014 10:30 AM EST||
SAN FRANCISCO, Feb. 11, 2014 /PRNewswire/ -- Tipping Point Community, the Bay Area's leading poverty-fighting organization, announced today that it has accepted its first Bitcoin donation from Bart and Brad Stephens of Stephens Investment Management. In accepting the digital currency, Tipping Point expands the giving options for donors and recognizes Bitcoin's status as an innovative form of payment.
"Tipping Point and our donors are always seeking new ways to improve our community," said Daniel Lurie, CEO + Founder of Tipping Point. "Bitcoin is still in its early days, but we are excited at the prospect of it as an additional resource in the fight against poverty."
Bart Stephens said, "Bitcoin is a disruptive innovation in the field of financial technology. Tipping Point is an innovator and a disruptive force in philanthropy. We have supported Tipping Point since its inception and we are excited by this pioneering gift. Both Tipping Point and Bitcoin share a bright future, bringing benefits to consumers and families in need alike."
The donation was made in the form of twenty Bitcoins on February 6. The Bitcoins were converted to cash and valued at approximately $15,000. If you would like to donate to Tipping Point and join the fight against poverty in the Bay Area, please contact Sophie Jaggi at [email protected]
About Tipping Point Community
Tipping Point Community screens non-profits rigorously to find, fund and partner with the most effective organizations serving Bay Area individuals and families in need. Tipping Point's board underwrites all operating and fundraising expenses so that 100% of every dollar donated goes directly toward the fight against poverty. Since 2005, Tipping Point has raised more than $60 million and has reached nearly 250,000 people in need. More information about Tipping Point Community is available at tippingpoint.org.
About Stephens Investment Management
Stephens Investment Management is a boutique investment firm that manages a family of financial products. These products include: Hedge Funds, sector-focused Venture Funds, an Income Fund, a Real Estate Fund, a Fund-of-Funds, and private company Direct Investments. The underlying core to their strategy is based on conducting fundamental research on growing companies and sectors.
They are long-term investors, with a focus on value-priced growth companies. In conducting their bottom-up research, they look for: improving fundamentals, turnaround situations, new management or products, insider buying and other changes in the business that could become an investment catalyst. Their main three sectors of expertise are Technology, Healthcare and Natural Resources.
In addition, Stephens Investment Management acts as a strategic family office for the three family partners.
SOURCE Tipping Point Community