Do you own cryptocurrency that you’ve owned for longer than one year? With a gift of crypto, you can fight injustice and lower your taxes. You could receive a tax deduction for the fair market value of the crypto and avoid paying capital gains taxes which you would have incurred if you had sold the crypto.   

Why donate crypto to IJM?

Children, women and men face the reality of modern slavery, exploitation and abuse every day because people in power prey on the vulnerabilities that poverty creates. At IJM, we’re on a mission to partner with local communities to build a more just world where everyone can expect to be safe and protected. Together, we can build a safer, more just world. A gift of crypto can be the first step in making that happen.

How to donate cryptocurrency

A successful charitable contribution of cryptocurrency requires a few additional steps in order to comply with current tax law.  We can help you navigate the transaction.  Here are some basic considerations.

Essentially, a charitable contribution of cryptocurrency is like any other non-cash contribution.  However, instead of a direct donation, International Justice Mission uses a company used by many charities for donations of cryptocurrency called The Giving Block.  You can contact them at www.thegivingblock.com.  IJM is a registered charity with The Giving Block, which will make your donation simple and easy.
    

What happens to my gift of cryptocurrency after I donate it?

You contribute your cryptocurrency directly to The Giving Block and, once they have accepted your contribution, they will liquidate the cryptocurrency and send the net cash proceeds to IJM for our mission.  As with other non-cash contributions, you must transfer ownership of the cryptocurrency itself to The Giving Block and should be careful to avoid directing the sale of the cryptocurrency yourself because that might trigger taxable income for you.

How does a gift of crypto save taxes?

You may be eligible for an income tax charitable deduction for your contribution.  If you have owned your cryptocurrency for more than one year, your deduction will be for the current dollar value of the cryptocurrency.  If your deduction is more than $5,000, you will need to obtain a qualified appraisal to document the value of the cryptocurrency.  The Giving Block will provide you with a receipt which will show the date of gift and a description of the cryptocurrency you contributed, but The Giving Block cannot provide a dollar value for the cryptocurrency.  IJM will also provide a written acknowledgment of your gift

Owners of cryptocurrency are aware that prices can change rapidly.  In order to limit the risk of price volatility, The Giving Block liquidates contributions of cryptocurrency as soon as practical.  However, like any other non-cash contribution, once you have contributed your cryptocurrency, The Giving Block and IJM have the unilateral right to determine whether to hold or dispose of it as they see fit.

We would be happy to work with you and your advisors to help you make a contribution of cryptocurrency.  Please contact Chuck Day, Director of Planned Giving at cday@ijm.org or by phone at 630-336-5423.