Why Donate Cryptocurrency?
Donating cryptocurrency to the DeKalb County Community Foundation is a simple and impactful way to support the causes you care about. Your gift helps fund meaningful grants that make a lasting difference across DeKalb County.
The IRS classifies cryptocurrency as property, making it one of the most tax-efficient ways to give. When you donate crypto, you may receive a tax deduction for its fair market value and avoid capital gains tax that would apply if you sold the asset first and then donated the proceeds.
If you have questions about donating cryptocurrency, we recommend consulting your professional tax advisor before making a gift.
What Cryptocurrencies are Accepted?
The Community Foundation partners with BitPay (all wallets supported) to accept multiple cryptocurrencies including: Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), Shiba Inu (SHIB), Wrapped Bitcoin (WBTC), and USD-pegged stablecoins BUSD, DAI, GUSD, USDC, and USDP. For a complete list of cryptocurrencies and stable coin accepted, visit the BitPay website.
How to Donate Cryptocurrency
- Begin by clicking the button below and following the steps to complete your donation.
- A few things to note when donating:
- When you donate cryptocurrency, we immediately transfer your coins to U.S. dollars.
- Donations over $3,000 require the donor to create or log into a BitPay account. Setting up a BitPay account is free to the donor.
- Appraisal considerations for donors - The IRS requires that donors claiming total deductions of over $500 on noncash donations file Form 8283, Noncash Charitable Contributions. The IRS also requires a qualified appraisal for donated property over $5,000. Donors planning to gift more than $5,000 worth of crypto need to arrange for an appraisal of the crypto’s value from a qualified appraiser. Finding a qualified appraiser may be challenging as there is neither a degree nor appraisal designation that specifically applies to crypto. Charitable Solutions, LLC, is one firm that offers crypto appraisal services, or ask your trusted CPA adviser for references. ~ Bert Feuss, Community Capital Advisors.
- Be sure to let us know where to direct your generous donation. Whether you want to give to an established Fund or create one of your own, the Community Foundation offers various giving options to help donors maximize their impact.
For questions or more information about donating cryptocurrency, please contact Executive Director Dan Templin at 815-748-5383 or dan@dekalbccf.org.
