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—and deduct more on your tax return.
The Community Foundation accepts gifts of cryptocurrency through Every.org, a 501(c)(3) designed to assist nonprofits with accepting charitable gifts like cryptocurrency and doing so applying a phenomenal small fee of 1%. That means 99% of your gift comes to the Community Foundation.
Every.org immediately liquidates your gift and transfers funds to the Community Foundation. Every.org will issue you all the necessary paperwork to substantiate your gift for tax purposes, including filing 8282.
Let us know about your intended gift by reaching out to Nicole Acosta, [email protected]. We’ll know how to put your gift to work by adding it to a new personalized legacy fund, add it to an existing fund, or provide support for one of the Community Foundation’s programs.
Remember, with your cryptocurrency gift of $500 or more, you’ll need to file a Form 8283 with the IRS. With gifts of $5,000 or more, a qualified appraisal is required for submission with your 8283 (Every.org can recommend qualified appraisers).