Prepare for tax season now by making a tax-deductible donation to Blockchain Benevolence!
Hello r/Ethtrader! My name is Scott Stevens, I’m an ophthalmologist based in Oregon, and I’m also a blockchain aficionado.
About a year ago, near the height of the crypto craze, I was hoping to donate some of my holdings to charity. There are significant tax benefits to donating appreciated stocks/bonds etc to charity over simply donating cash, and I wanted to realize the same tax benefits by donating some of my crypto. However, most charities were not capable of accepting crypto; the few that could only accepted BTC or ETH. Thus I set out to create a charity that could accept ANY crypto token, and Blockchain Benevolence was born.
After a somewhat lengthy process with the IRS, I’m pleased to report that Blockchain Benevolence was granted 501(c)3 status, meaning that for those subject to US taxes, donations to it can be used as itemized tax deductions.
Our basic model is to accept donations in crypto, sell it, and donate the proceeds to worthy causes. Donors can designate a specific charity (we ask that it be another 501(c)3 charity), or if the donor doesn’t have a preference, we will pass on the proceeds to Cureblindness.org, an organization that has provided the supplies and surgeons to perform over 625,000 cataract surgeries worldwide. As an ophthalmologist, I’ve seen firsthand how this relatively simple surgery can change people’s lives overnight.
I recently wrote a blog post detailing my own recent donation of Rep (Augur)and the tax benefits I will receive.
As an alternative to donating your own crypto directly, you can also contribute by using the Pause For app, a part of the Kin cryptocurrency ecosystem; here's a blog post that explains more about that.
So take advantage of the recent market upswing by making a donation now! You can DM me here on reddit, or contact us at Blockchainbenevolence@gmail.com