Crypto-philanthropy comes to greater Atlanta

By Josh Dukelow, gift planning officer

We’ve partnered with The Giving Block to make donating cryptocurrency fast and easy. By entering the details in a three-step widget on our website, donors can make a tax-deductible donation directly from their crypto wallet. The coins are transferred to the Community Foundation and immediately liquidated into cash. The donor can direct the proceeds to their donor-advised fund for granting out or directly to the nonprofit organization of their choice.*

By donating the crypto asset (rather than the cash generated by the sale of the asset), donors can eliminate capital gains tax or personal income taxes due on the increase of value. They also get to deduct the amount donated from their taxable income. While we’ve seen fluctuations in the value of some cryptocurrencies, many investors still have substantial gains in their accounts. You can turn those gains into good by funding your charitable giving with cryptocurrency.

Why not give the crypto directly to the nonprofit? Some 501(c)3 organizations are able to accept crypto, but for those who aren’t, the Community Foundation can be the conduit.* We can accept more than 40 different cryptocurrencies, and ensure you get the proper documentation for claiming your tax deductions. We can also provide expert guidance on the groups and causes that are having the greatest impact in our region, promoting more effective philanthropy.

There’s something for everyone:

• Donors get to use a new kind of asset to fulfill their charitable giving goals
• Advisors have more options to craft a tax-wise financial and charitable plan
• Nonprofits can now accept a new kind of donation to support their mission

While the process for gifting cryptocurrency is easy, the Community Foundation wants to make sure we know how you want to use your donation before we take control of the assets. Contact our Philanthropy Team any time to discuss how you would like to turn your crypto gains into good in our community. If you or your client have questions about it, we’re happy to talk.

For more information, please contact Josh Dukelow, gift planning officer, at 404.588-3208 or jdukelow@cfgreateratlanta.org.

* A modest administrative fee applies