Crypto philanthropy is a powerful and efficient way
to support our mission in this new era of digital finance and commerce.
We believe the emerging space of decentralized web protocols,
blockchains, cryptocurrencies, and beyond can be a powerful force in helping
our youth. The crypto community can truly make an impact on the lives of our youth.
WHY DONATE BITCOIN AND
OTHER CRYPTOCURRENCIES TO ELK HILL?
Save on your Taxes by Donating Crypto
Why Donate Crypto Directly? Taxes!
There’s a reason high net worth individuals tend to donate property instead of cash. Donating cryptocurrency directly to a 501c3 nonprofit is more tax efficient and can save you money.
The IRS classifies cryptocurrency as property for tax purposes which means it is typically the most tax-efficient way to support your favorite cause. When donating crypto, you receive a tax deduction for the fair market value of the crypto, and you avoid the capital gains tax you would have incurred if you had sold the crypto and then made a donation. That means you’re able to donate more, as well as deduct more from your taxes. The difference? Sometimes more than 30%.