Cryptocurrency
Yes, your cryptocurrency donation is *tax deductible! IFCJ offers the ability to give in the form of cryptocurrency in a tax-efficient way. Your contribution is tax-deductible to the fullest extent permitted by law.
If you have cryptocurrency it’s simple to make a gift to the Fellowship. Using the button below you can make a gift conveniently from your account. Select the type of currency, the designation (how the funds are to be used) and the gift amount.
For more information concerning a gift or cryptocurrency, please contact IFCJ’s Vice President of Philanthropy Department at [email protected].
*Please consult your tax advisor.
Frequently Asked Question
How many people use cryptocurrency?
There are currently about 35,000,000 users in the US and 220,000,000 globally. The number of cryptocurrency users has increased exponentially from 2017 to 2021.
Can I donate Cryptocurrency?
Yes. Instead of selling your cryptocurrency and donating the after-tax proceeds, you can donate it directly to charities and other nonprofits, which means your tax deduction will be the same as the market value of the donation.
Does the IRS recognize cryptocurrency donations?
The IRS classifies cryptocurrencies as property, so cryptocurrency donations to 501c3 charities receive the same tax treatment as stocks.
How much cryptocurrency is donated each year?
Currently, there is about $300,000,000 donated in the form of cryptocurrency each year in the USA. As the crypto market has grown, so too have cryptocurrency donations.
Why donate cryptocurrency?
When you donate crypto 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. Would you rather donate to the IRS or your favorite cause?
How does IFCJ receive cryptocurrency?
We have chosen to use the Engiven platform. Engiven provides cryptocurrency donation technologies for more nonprofits than any other giving platform.
What does The Fellowship do with donated cryptocurrency?
Engiven’s system automates the process of receiving and exchanging crypto donations for USD. Once a donation is made, Engiven verifies the transaction on the blockchain, immediately converts the crypto assets to USD, and initiates a deposit to our bank.