Did you know cryptocurrency donations are on the rise?
In the last few years, hundreds of millions of dollars worth of cryptocurrencies have been donated to charities. But accepting crypto donations isn’t something top-of-mind for most ACA member groups and it’s not something they’re set up to do. With 101,000,000 people using cryptocurrency today and half of millennials preferring crypto investing to stocks, we think it’s time to tap into this potential donor pool.
The Air Care Alliance is excited to announce that we have recently begun accepting cryptocurrency donations on behalf of our members via The Giving Block. Donors can choose to support the entire mission of ACA or a specific ACA member group. By accepting cryptocurrencies, ACA is offering crypto users the ability to support charitable aviation in a tax efficient way and creating a new fundraising stream for our public benefit flying groups.
To make a crypto donation in support of charitable aviation today click here: https://www.aircarealliance.org/donate-cryptocurrency/
Donors who wish to designate their donation to a specific group(s) may do so by simply notifying ACA at email@example.com. Donations may be directed to any current ACA voting member group. To see a list of eligible groups, click here.
Why donate crypto?
When you donate crypto to ACA, you do not recognize capital gains from the donation and can deduct it on your taxes. In other words, donating your crypto can often reduce your tax burden.
The IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax and are deductible on the donor’s tax returns. If you want to learn more about how donating crypto can lower your taxes, check out thegivingblock.com/faq. Talk to a crypto-savvy tax professional or connect with The Giving Block to get connected with one.