Why Donate Cryptocurrency to Save the Children?
A History of Cryptocurrency
Save the Children has accepted Bitcoin donations since 2013. We were the first nonprofit beneficiary of Bitcoin Black Friday via the BitGive Foundation in response to Typhoon Haiyan that struck Southeast Asia and devastated the Philippines and one of the first global nonprofits to accept cryptocurrency.
The First-Ever #BitcoinTuesday
Now, we’re relaunching our cryptocurrency fundraising initiative with The Giving Block and Gemini Trust Exchange participating in the first ever #BitcoinTuesday (#GivingTuesday but for crypto). As part of this, we will now be able to accept multiple cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), ZCash (ZEC), Litecoin (LTC) and the Gemini Dollar (GUSD).
Adding this emerging donation type is a first step in learning more about how blockchain technologies can help us do more to reach the most marginalized children in the world.
Your Cryptocurrency at Work
Save the Children offers supporters with cryptocurrency the ability to support the organization in a tax-efficient way. The IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax and are tax deductible. Your contribution is tax-deductible to the fullest extent permitted by law. For example, for donors in the United States, the IRS has classified Bitcoin as property for tax purposes. This means that when you donate Bitcoin to a 501(c)(3) nonprofit like Save the Children, you do not have to pay capital gains tax and it is tax deductible if you provide your email address. *Please consult your tax advisor. You can donate anonymously but you will not receive a tax receipt.
The cryptocurrency community has a lot of innovative ideas and we want to connect with you more directly. If you have a use case, idea or want to partner with us, please reach out! If you have any questions or are interested in donating other types of cryptocurrency, send us an email.
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