From the perspective of a nonprofit organization, cryptocurrencies can be an ideal way to receive donations. They get the funds immediately, and there’s no middleman taking a cut of the donation for “processing” fees. The IRS also classifies bitcoin and other cryptos as property, meaning that neither the donor or the nonprofit have to pay capital gains taxes on the transaction. Even if the volume of cryptocurrency donations is relatively small, the nonprofit can still generate a few awareness-raising headlines by sending out a press release telling the world that they have become part of the crypto revolution. Everyone wins, and it’s all for a good cause.
In this post, we’ll take a look at five major nonprofit organizations that will happily accept your cryptocurrency donation.
1. United Way: When the largest nonprofit in the world accepts donations via bitcoin, it’s kind of hard to argue that cryptocurrency is just a fad. The United Way is a truly massive organization, supporting more than 1,800 nonprofit organizations all over the globe. Bitcoin donations are automatically earmarked for the United Way’s Innovation Fund, which invests in new technologies for solving “the world’s most critical problems.”
2. The Internet Archive: As the “digital library of the Internet,” the Internet Archive is the closest thing we have to a living history of the online era. Ever used the Wayback Machine to look up a long-gone website? Those 330 billion preserved webpages are just one tiny part of their complete archive, which includes millions of videos, audio recordings, books, images, and even software. The project accepts a wide variety of crypto tokens — BTC, BCH, ETH, XRP, Zcash — making it easy for anyone to donate.
3. Tor Project: For obvious reasons, there’s a huge overlap between online privacy advocates and the greater cryptocurrency community. If you don’t want third parties snooping around in your online activities — particularly your crypto payments — it’s hard to beat the protections offered by the Tor Browser. Developed and maintained by the nonprofit Tor Project, the group has also made it easy to donate via your favorite crypto tokens.
4. Electronic Frontier Foundation: It’s hard not to like an organization that is fully committed to defending free speech, digital privacy, and a level playing field for technological innovation. In a nutshell, that’s what the EFF does. As an online-focused nonprofit, they also gladly accept donations of cryptocurrency. Unfortunately, their crypto donation system is a little wonky. You can find instructions at the bottom of their donation page.
5. Red Cross: How many lives have been saved since the founding of the Red Cross in 1863? It’s hard to say, but even the lowest educated guess would still be in the hundreds of millions. It’s almost impossible to overstate the impact of the Red Cross (and Red Crescent) in alleviating human suffering across modern history, and it simply wouldn’t have been possible without a steady stream of donations. If you’re looking for a place to share the wealth from your cryptocurrency gains, the American Red Cross has proudly accepted bitcoin donations since 2017.