How Dave Donated Crypto to His Donor Advised Fund

Our first crypto donor Dave came to us after he had acquired a considerable amount of cryptocurrency.

After researching how to donate cryptocurrency to nonprofits, he contacted one of our gift planners to talk about how a gift of virtual currency could work for him. His father gave through a donor advised fund with the Saint Paul & Minnesota Foundation for nearly two decades, so when Dave discovered we accept gifts of crypto, he knew we were the right place to carry out his charitable giving goals.

“Being able to donate appreciated assets like private company stock is incredibly valuable,” said Dave. “When you don’t have to pay capital gains tax, you’re able to give all of the value of that asset and not just a fraction of it.”

Donating bitcoin through his father’s fund allows Dave an opportunity to make a greater impact. This efficient process made it easy for Dave to support all of his favorite causes.

“Being responsive to donor interests and creating more avenues for donors to give back has always been our focus,” said Jeremy Wells, senior vice president of Philanthropic Services. “Dave’s request was one we were eager to fulfill, both for him and for future donors.”

Gifts of cryptocurrency can provide financial benefits to your clients as well. Your clients may claim an income tax charitable deduction for the donated cryptocurrency. The value must be determined by a qualified appraisal². There are only a few appraisers who provide this service. At the Foundation, we can work with you and your clients to refer experienced appraisers of cryptocurrency.

To learn more about how your clients can donate non-cash assets such as cryptocurrency, explore the many ways your clients can give. Our staff will work with you and your client to help determine what assets may be the most beneficial for them to give.