MAGIC provides scholarships for undergraduate students seeking a four (4) year degree and graduate students seeking advanced Master and Doctorate degrees. Studies must be related to cryptocurrency and privacy in areas such as science, math, business, law, and political science/policy. MAGIC provides the application on their website and markets the scholarships to high schools and colleges throughout the country. The Scholarship Selection Committee will manage the aspects of the program including policy and procedures development, review of applications and evaluation of the program. The first round of scholarship awards was provided in the Fall Semester of 2019. This activity is conducted from Colorado and throughout the United States. This meets the primary exempt purpose of the organization by providing scholarships for further education of the cryptocurrency market in a variety of educational disciplines. This activity is funded by donations. Program activity constituted zero percent (0%) of the organization time in 2018 and 2019 and will constitute seventy five percent (75%) in 2020 and 2021.
The primary funding of the organization will be from individual donations made online. The organization will make requests through in person, email, and phone calls. The organization will have a website and accept donations through the website. This activity is funded by donations. Fundraising activity constituted zero percent (0%) of the organization time in 2018, five percent (5%) in 2019 and will constitute five percent (5%) in 2020 and 2021.