HSN Blog

Nothing Cryptic About Donating Crypto!

Savvy donors know that donating appreciated assets – usually stocks but now including cryptocurrencies and NFTs – is a tax-smart approach that maximizes your philanthropic impact.

We’re excited to introduce a simple widget that allows you to donate cryptocurrency (such as Bitcoin, Ethereum, and the like) that’s been held for more than one year directly to Humane Society Naples (HSN).

Donating long-term held cryptocurrency investments can unlock additional funds for charity in two ways. First, you potentially eliminate the capital gains tax you would incur if you sold the assets yourself and donated the proceeds, which may increase the amount available for charity by up to 20%. Second, if you itemize deductions on your tax return instead of taking the standard deduction, you may claim a fair market value charitable deduction for the tax year in which the gift is made and may choose to pass on that savings in the form of more giving.

You can access our widget at https://www.cryptoforcharity.io/hsnaples.

Cryptocurrency donations are processed by Crypto for Charity and the net proceeds are promptly sold and transferred to HSN in U.S. dollars. We do not maintain a reserve of cryptocurrency, therefore all crypto donations to HSN are final.

Kim Hanson
Senior Philanthropy Officer
Humane Society Naples
(239) 438-4624
kim.hanson@hsnaples.org

 

Kim Hanson recently joined HSN’s Community Affairs team as Senior Philanthropy Officer. With more than 40 years in the nonprofit development field, Kim had served for the past 7 years as the Major & Planned Giving Officer for Peggy Adams Animal Rescue League in Palm Beach County. She will be posting a monthly blog on our HSN website about ways of saving the precious lives entrusted to us through a variety of charitable giving vehicles.