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Wise Giving: Donations via Crypto

Jun 28, 2024

Did you know that over half of the largest U.S. charities accept cryptocurrency donations, including People Incorporated? More than $2 billion of cryptocurrency has been donated to charities since 2018, and despite 2023 being a challenging year for crypto in general, 2024 is proving that crypto donations are still rising to become a norm in the nonprofit world.

Today, there are an estimated 580 million crypto users worldwide, which is an increase of 34% compared to the start of 2023. This surge to an all-time high reflects rapid market cap growth and rising investor confidence. Over the past year, the global cryptocurrency market value has doubled.

But what is cryptocurrency again? Cryptocurrency is a form of digital money that is nearly impossible to counterfeit. It is virtually owned and regulated, the value increases because of supply and demand, and it can be traded, sold, and donated just like the U.S. dollar. Bitcoin was the first cryptocurrency and is still the most valuable one, but thousands of other cryptocurrencies now exist.

If you own cryptocurrency, it could make a great charitable donation that isn’t as complicated as it sounds – plus, there are tax advantages to gain! People Incorporated is happy to partner with the Saint Paul & Minnesota Foundation to process these types of assets, which have been deemed tax-deductible by the IRS.

If you’re unsure about how to donate cryptocurrency,have a complex giving situation, or are wondering if we accept a donation you might be interested in giving, you can speak with a gift officer by contacting us at  give@peopleincorporated.org.