Cryptocurrency giving now available

The Quad Cities Community Foundation is excited to announce that donors can now make gifts of cryptocurrency to support the causes closest to their hearts.

“There are so many wonderful ways to be generous,” said Anne Calder, vice president of development. “We want to meet donors where they are and continue to be flexible, creative partners so they can express their generosity in any way that best suits them. And we’re thrilled to open new doors to critical resources for our community.”  

Cryptocurrency giving through the Community Foundation allows to receive a tax deduction for the fair market value of their cryptocurrency, while avoiding capital gains tax. (Cryptocurrency donations are currently treated as non-cash contributions by the IRS.) The new giving opportunity is supported by our secure online giving platform, Engiven, which accepts 40 different cryptocurrencies and provides IRS-compliant contribution receipts for all cryptocurrency gifts. 

In the United States, roughly 90 percent of all household wealth is held in noncash assets, including real estate, stocks, and—increasingly—cryptocurrency. “We could already accept those other types of gifts, and by adding cryptocurrency to that list, we know we’re keeping pace with the evolving digital world,” said Michelle Payne, vice president of finance.

One study by Fidelity Charitable suggested that those who own cryptocurrency are especially generous, with 45 percent of cryptocurrency investors donating over $1,000 in 2020, while only 33 percent of overall investors gave at that rate.

“No matter how you give,” said Calder, “there’s a place for you at the Community Foundation.”