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They exist only in electronic form. Why is Children International accepting cryptocurrency? A growing number of nonprofits and charities are beginning to accept donations in the form of cryptocurrency. We believe that accepting cryptocurrency will result in donations we may not otherwise receive, as well as connecting us with new supporters. Are cryptocurrency donations anonymous? They can be. Similar to other donations, you may give without sharing your personal info.
How does it work? When you donate cryptocurrency to a registered charity, you do not recognize capital gains from the donation and can deduct it on your taxes. In other words, donating your crypto can often reduce your tax burden. Does Children International hold cryptocurrency? No, we do not. We are able to convert these gifts into dollars as soon as we receive them. Our partnership with The Giving Block makes this an easy, simple conversion.
What is The Giving Block? The Giving Block equips non-profits to give supporters and organizations alike an easy to use cryptocurrency donation tool. Tax information Children International offers supporters with cryptocurrency the ability to support the organization in a tax-efficient way. The IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax and are tax-deductible. If you want to learn more about how donating crypto can lower your taxes, check out thegivingblock.
Also, talk to a crypto-savvy tax professional or connect with The Giving Block to get connected with one. If you provide an email, you will automatically receive a tax receipt after donating. What is CryptoGivingTuesday? CryptoGivingTuesday is the biggest occasion of the year for crypto fundraising and giving. Established in by The Giving Block to encourage crypto users to make donations and raise awareness among nonprofits about the ease and the benefits of accepting cryptocurrencies like Bitcoin.
It falls on the first Tuesday after Thanksgiving in the U. Today, CryptoGivingTuesday drives millions of dollars worth of crypto donations toward nonprofits, charities, foundations, universities, faith-based organizations, and more.
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