As part of our ongoing efforts to adapt to emerging trends in giving, we are now pleased to accept cryptocurrency as a form of donation. This development not only simplifies the process of contributing to our mission but also expands the horizons of your giving options. Cryptocurrency donations enable you to support the causes you care about while potentially enjoying certain tax benefits. We are grateful for your unwavering support, and we look forward to exploring this exciting frontier of philanthropy with you.
We are Now Accepting Cryptocurrency
Why Do We Accept Cryptocurrency Donations?
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.
Donate Online Now
Donating cryptocurrency is easy. Click the link below and follow the directions on the form.
