The GroundTruth Project, home to Report for America, receives $165,000 grant from groundbreaking cryptocurrency-backed community fund launched by FORTUNE, Pplpleasr and Endaoment
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BOSTON — Today, The GroundTruth Project, home to Report for America, received nearly $165,000 grant from the new landmark Fortune Journalism PleasrFund organized by a new partnership between FORTUNE Magazine, the digital artist Pplpleasr, and Endaoment, a community foundation and the first cryptocurrency-backed 501(c)(3) nonprofit public charity.
The Fortune Journalism PleasrFund is dedicated to advancing independent investigative journalism and programs that foster interest in quality reporting and journalistic integrity. Grants from this fund will work to serve the public interest, further media accountability and transparency, and contribute to the development of critical thinking skills and well-informed debate nationwide.
Specifically, the grant will further GroundTruth’s mission of serving under-covered communities by supporting the next generation of journalists to do on-the-ground reporting and to advance sustainability, innovation and equity in journalism worldwide.
“We are honored to be one of the first recipients of this innovative new fund supporting independent journalism worldwide,” said Vice President of Development and Communications Lauren McKown. “Journalism is a public good, and creative initiatives like Fortune’s demonstrate the many ways philanthropists can help it thrive.”
The Fortune Journalism PleasrFund was primarily seeded through an initial gift from the proceeds of their latest magazine cover NFT sales, designed and created by the digital artist Pplpleasr. Fortune and Pplpleasr, in conjunction with Endaoment, selected the recipients based on their adherence to the overarching principles of well-informed journalism and the respective integrity of the nonprofit organization.
“FORTUNE is proud to have had such a successful first foray into the NFT market, and to support good journalism in the public interest,” said FORTUNE CEO Alan Murray. “Our partnership with Pplpleasr has had a very pleasing result.”
This collaborative community fund reflects an innovative new approach to philanthropy, which harnesses the wave of momentum behind cryptocurrency, NFTs and a growing desire within the cryptocurrency community to leverage their capital for social impact.
“Free journalism is important to me. Similar to when PleasrDAO supported Freedom Of the Press, nothing seemed more fitting than to join forces with Fortune and support the cause,” said digital artist Pplpleasr. “I hope this can set a precedent for bridging traditional media and leveraging crypto for a good cause”
Organizations will be suggested by Fortune and PplPleasr in conjunction with the Endaoment staff. All organizations suggested must adhere to Endaoment’s funding policy and be US based 501(c)(3) organizations in good standing with the IRS.
Endaoment CEO Robbie Heeger said, “We’re thrilled to be supporting these four amazing organizations, and are honored to be administering this Community Fund with Fortune and PplPleasr. The integrity of journalism around the world is critical to an informed global population, and we hope to see many others in the Cryptocurrency community step forward to support this just cause into the future.”
Through this selection process, the respective funds will be distributed to recipient organizations in a timely manner, with recurring grants occurring monthly should the fund have a balance in excess of $25,000 after all initial grants are made.
About The GroundTruth Project:
The GroundTruth Project is an award-winning, independent, nonpartisan, nonprofit news organization dedicated to supporting the next generation of journalists in the U.S. and around the world. In 2017, GroundTruth launched Report for America, and in 2021, Report for the World, two service programs that match talented journalists with local newsrooms to report on undercovered issues and communities.
Pplpleasr is a digital artist known for her collaborations with DeFi protocols such as Aave, Sushiswap, Yearn Finance and more. In the past, she has worked on movies such as Batman v Superman, Wonder Woman as well as the Diablo IV cinematic. Most recently, she is known for her work on the Uniswap v3 animation.
Endaoment is a California Public Benefit Corporation based in San Francisco, federally tax-exempt under Internal Revenue Code section 501(c)(3), serving as decentralized finance’s Community Foundation. It provides Donor-Advised Funds through its web-application, enabling users to donate any major crypto to nearly any U.S. nonprofit. By creating a robust DeFi Community Foundation entity, Endaoment hopes to encourage the charitable giving of cryptocurrencies and the adoption of cryptocurrency technologies by nonprofit organizations. For more information please visit app.endaoment.org. \