Donating cryptocurrency to Breaking Ground is a great way to support our work with homeless New Yorkers and realize the tax-related benefits of gifting crypto to a nonprofit organization. See below for some frequently asked questions regarding donating crypto through our partners at The Giving Block:
Which cryptocurrencies do you accept?
We currently accept more than 40 cryptocurrencies, including: Aave (AAVE), Amp (AMP), Balancer (BAL), Bancor Network Token (BNT), Basic Attention Token (BAT), Bitcoin (BTC), Bitcoin Cash (BCH), Chainlink (LINK), Compound (COMP), Curve (CRV), Dai (DAI), Decentraland (MANA), Dogecoin (DOGE), Enjin Coin (ENJ), Ethereum (ETH), Fantom (FTM), Gemini Dollar (GUSD), The Graph (GRT), Injective Protocol (INJ), Kyber Network (KNC), Litecoin (LTC), Livepeer (LPT), Loopring (LRC), Maker (MKR), PAX Gold (PAXG), Polygon (MATIC), Ren (REN), Storj (STORJ), SushiSwap (SUSHI), Synthetix (SNX), UMA (UMA), Uniswap (UNI), Yearn.Finance (YFI), Zcash (ZEC), 0x (ZRX) and 1inch (1INCH). We are continually in the process of adding support for new cryptocurrencies, so please check back soon for more giving options.
Can I give anonymously?
Yes. Please note if you would like to receive a tax receipt from our partners at The Giving Block, you will need to provide an email address.
Are cryptocurrency donations tax-deductible?
Yes! Crypto donations are one of the most tax-efficient ways to give to charity. Your crypto donation is tax-deductible to the fullest extent permitted by law if you pay taxes in the U.S. By making a direct charitable gift of cryptocurrerncy, you may also be eligible to significantly reduce what you would otherwise owe in capital gains taxes.
For tax purposes, gifts of cryptocurrency are classified as gifts of property (or “non-cash” gifts). This means the gift is treated like gifts of stock or other types of financial securities held as investments. It is recommended that you donate cryptocurrency that you have held for at least one year. Please consult your tax adviser, see the IRS notices regarding Virtual Currency Transactions, or check out this guide from our partners at The Giving Block.
How will you put my donation of cryptocurrency to work?
Breaking Ground is New York's largest provider of street outreach and permanent supportive housing for chronically homeless individuals. We will put your donation to work helping people come off the streets and into transitional and permanent housing solutions that help solve each person's homelessness for good.
I need assistance with my donation. How can I get in touch?
Thank you for your interest in supporting Breaking Ground. To contact us about making a crypto donation, please send us an email with the subject line, Crypto Donation.