Cryptocurrency
Transform digital currency into meaningful real-world impact
You can donate cryptocurrency assets directly to charity without liquidating them first, and reach more people with the gospel. Or combine your gift with the Great Commission Donor Advised Fund (GCDAF) for added giving flexibility, potential tax-free growth, and a convenient hub for all your giving.
Benefits:
- You are eligible for a tax deduction equal to the fair market value of the donated currency, as determined by a qualified appraiser.
- You avoid capital gains taxes on the appreciation of the currency.
- The ministry or GCDAF receives the full value of your contribution — to accelerate the Great Commission!
FAQs
Cru partners with Engiven, a trusted name in Crypto donations, to expertly handle the conversion of your gift into cash. The Engiven platform is a third-party vendor providing donation software technology that enables nonprofits to safely and securely receive cryptocurrency donations and then convert those donations into usable fiat currency, such as US dollars.
Cru Foundation does not “make money” on your gift through its own fee, but Engiven charges a processing fee which will be assessed on your gift. The fee varies by the transaction amount:
➢ Individual donations up to $500k – 2.0%
➢ Individual donations $500K-1M – 1.5%
➢ Individual donations over $1M – 1.0%
Yes, it’s a tax-efficient way to give! Per government requirements, cryptocurrency gifts are recognized as real property and are receipted with a property description but without an attributed value. As of this writing, the IRS requires non-cash gifts of this kind to be substantiated in your tax filings.
For crypto donations valued over $250, a standard noncash donation receipt is required for the donor.
For crypto donations valued over $500, the donor must file Form 8283 (Noncash Charitable Contributions).
For crypto donations valued over $5,000, the donor must also receive a qualified appraisal prepared by a qualified appraiser.
The Engiven platform provides a free appraisal for gifts over $5,000 and will automatically send a contribution receipt with a secure link to generate Form 8283 when required. However, donors are not required to use Engiven’s appraisal service and may choose to obtain an appraisal from another qualified source.
You can donate cryptocurrency to the Great Commission Donor Advised Fund, receive a tax deduction, and advise grants anytime to your church, Cru, or other qualified charitable organizations. With an easy-to-use online account, you can manage all of your giving to your favorite charities and avoid the tax-time hassle of collecting receipts from various organizations. Learn more about the Great Commission Donor Advised Fund.
