Community Foundation of Greater Greensboro
Donate Cryptocurrency
Cryptocurrency Donations Through Giving Block
Community Foundation of Greater Greensboro recognizes the importance cryptocurrency plays in today’s economy and in the lives of our donors. Donors may find it beneficial to make contributions of cryptocurrency and should consult their tax adviser regarding how donations of cryptocurrency and other highly appreciated assets may fit into their tax strategy.
Our ability to accept contributions of cryptocurrency was driven by our commitment to be responsive to our donor’s needs and their interest in making gifts of cryptocurrency.
Why Donate In Cryptocurrency Specifically?
For donors in the United States, the IRS has classified cryptocurrency as a form of property for tax purposes. This means that when you donate Bitcoin or other cryptocurrencies to a 501(c)(3) nonprofit or Foundation, like the Community Foundation of Greater Greensboro, you may not be required to pay capital gains tax on donated cryptocurrency and you may still be able to claim a deduction for your gift. Please consult your tax adviser for more information.
Community Foundation of Greater Greensboro Gift Acceptance Requirements
In accordance with the Community Foundation of Greater Greensboro’s Gift Acceptance Policy, all contributions of cryptocurrency are converted to cash immediately upon acceptance and cannot be refunded for any reason.
While we are happy to honor requests for anonymity, we require that all donors identify themselves when making a charitable contribution so that we can complete the proper IRS documentation.
For more information contact: Marci Peace | mpeace@cfgg.org | 336.790.7518.