Navigating Cryptocurrency Donations
As cryptocurrency continues to grow in influence, nonprofits should be aware of the benefits and risks of accepting donations of cryptocurrency. Whether an organization is trying to build awareness among a new philanthropic class or simply offer current donors another way to give, accepting donations in cryptocurrency can provide a nonprofit with another, sometimes significant, stream of revenue. In this session, we will discuss operational issues when accepting donations of cryptocurrency, such as tax reporting and gift acceptance policies, as well as the financial considerations and risks of the volatile, and largely unregulated, type of asset. We will also discuss the donor relations aspect of using cryptocurrency, including the potential tax benefits and donor control questions.