The Community Foundation is pleased to announce that we now accept cryptocurrency! The IRS classifies cryptocurrency as property for tax purposes, which makes donating cryptocurrency directly to the Community Foundation extremely tax efficient.
When donating crypto, you receive a tax deduction for the fair market value of the crypto, and you avoid the capital gains tax you would have incurred if you had sold the crypto and then made a donation. That means you’re able to donate more, as well as deduct more on your tax return.
The Community Foundation accepts gifts of cryptocurrency through The Giving Block, and we quickly liquidate your gift, putting your generosity to work right away. Reach out to Amy Owen, [email protected], to let us know of your wishes for your gift, such as establishing a new fund, adding to an existing fund, or any other purposes.