Donate Cryptocurrencies
We accept Bitcoin and other cryptocurrencies through the Giving Block, which allows nonprofits to directly receive your holdings as tax-deductible contributions. Donations benefit our mission by directly increasing and enhancing our research activity.
HOW CAN CRYPTOCURRENCY CHANGE THE WORLD
Blinding diseases affect millions of people and many of them do not have a cure yet, or cures are not accessible to all.
Unfortunately, those who lose sight due to a retinal pathology cannot heal or recover, as the cells able to sense light allowing vision, the photoreceptors, are unable to regenerate nor duplicate. For this reason, due to lack of cure, delay of treatment or improper treatment, people who have lost vision are condemned to a life in the dark. With the new technologies (e.g. artificial vision) it is today possible or will very soon be possible to reverse blindness by replacing the lost light-sensing function in the retina.
Forward-thinking investors who believe in restoring sight to the blinds do make the difference, as their donations ensure a faster development thanks to the bigger amount of data obtainable with research. And faster development means offering more people and their families a better future. We would love to hear from you if you have an interest in speaking with one of our Major Gift Officers.
3 REASONS TO DONATE CRYPTOCURRENCY
Your crypto donations provide the Macula & Genoma Foundation a new opportunity to raise critical funds, one that capitalizes on the full value of your contribution and demonstrates social responsibility. Please consult your accountant, attorney or financial advisor to ensure your gift is tax-deductible to the fullest extent permitted by current law.
1. IS MY CRYPTOCURRENCY DONATION TAX DEDUCTIBLE?
Yes. The IRS classifies cryptocurrency as a property and therefore its donation is a non-taxable event for givers and receivers. Your contribution is tax-deductible in the United States to the fullest extent permitted by current law and supports our global mission in a tax-efficient way.
2. CAN MY CRYPTOCURRENCY DONATION OFFSET CAPITAL GAINS?
Yes. For donors in the United States, the IRS has classified Bitcoin as property for tax purposes, just like stocks. This means that when you donate Bitcoin and other cryptocurrencies to a 501(c)(3) nonprofit like Macula & Genoma Foundation, you may not have to pay capital gains tax. If you transfer to another cryptocurrency or to fiat prior to donating, you could lose the full tax benefit of donating directly to a nonprofit in cryptocurrency.
3. CAN YOUR DONATION INCREASE CRYPTO ADOPTION?
Yes! There are as many as 68 million blockchain wallet users worldwide as of February 2021. As a quick, easy and convenient option for these individuals, The Giving Block helps nonprofits accept cryptocurrency donations to encourage greater mainstream adoption and destigmatize its use. Your donation helps normalize cryptocurrency as an option to give to the greater good.
WHICH CRYPTOCURRENCIES DO WE ACCEPT
The Macula & Genoma Foundation accepts Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), ZCash (ZEC), Litecoin (LTC), Basic Attention Token (BAT), Chainlink (LINK) and the Gemini Dollar (GUSD) through The Giving Block.
If you want to learn more about how donating cryptocurrency to a nonprofit can lower your taxes, check out The Giving Block’s FAQs or consult your tax advisor.
The tax information provided is general and educational in nature, and should not be construed as legal or tax advice. The Macula & Genoma Foundation does not provide legal or tax advice. Content provided relates to taxation at the federal level only. Tax laws and regulations are complex and subject to change, and changes in them may have a material impact on pretax and/or after-tax results. The Macula & Genoma Foundation makes no warranties with regard to such information or results obtained by its use.
The Macula & Genoma Foundation disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Always consult an attorney or tax professional regarding your specific legal or tax obligations.
Donations are processed by The Giving Block and, per our gift acceptance policy, cryptocurrency donations are immediately sold and transferred to Macula & Genoma Foundation in USD. The Macula & Genoma Foundation does not maintain a reserve of cryptocurrency. All cryptocurrency donations to the Macula & Genoma Foundation are final.
To receive a receipt for your donation, please provide your email address when making the transaction.