Updated: Oct 15, 2019
There is a massive tax incentive to donate in cryptocurrency, so it’s no surprise that hundreds of millions of dollars in cryptocurrency were donated to charitable organizations in 2017.
Why donate cryptocurrency specifically?
“In the United States, and many other jurisdictions, cryptocurrencies are classified as property for tax purposes (like stocks). This means that when you donate appreciated crypto directly to a nonprofit, you don’t owe capital gains tax on those earnings, and neither does the nonprofit. You can donate more, and pay less in taxes. It’s that simple.” - The Giving Block
Alex Wilson, founding partner of The Giving Block (along with co-founder, Pat Duffy), a consulting firm with a strong presence in the cryptocurrency and blockchain communities, had this to say about cryptocurrency:
“Fifteen years ago, nonprofits were skeptical about taking credit card donations. Now almost everyone does. We believe that cryptocurrencies will follow a similar path of adoption.”
See the full post with Cathexis here: https://cathexispartners.com/2019_fundraising_trends/
The Giving Block makes learning about and accepting cryptocurrency donations easy. Learn more about how The Giving Block can help your organization elevate its impact by equipping you with the tools to accept cryptocurrency donations, here: https://www.thegivingblock.com.
About The Giving Block:
The Giving Block equips nonprofits to fundraise cryptocurrencies like Bitcoin, providing education, training and a technical solution. For nonprofits who choose to go the extra mile, they advise on crypto fundraising strategies, and/or pair nonprofits up with partner crypto organizations, elevating fundraising and awareness outcomes. Ultimately, they help nonprofits build a crypto fundraising program, and a brand in the cryptocurrency industry.
Telegram: @TheGivingBlock or https://t.me/thegivingblock