Why Cryptocurrency?
Cryptocurrency is a decentralized digital form of currency based on blockchain technology. Unlike the U.S. dollar, no central authority manages and maintains the value of a cryptocurrency - instead it is distributed among its users via the internet. Cryptocurrency provides one more way we can honor God with our gifts.
Frequently Asked Questions
Because the value of cryptocurrency can change within a short period of time, we are unable to refund donations of cryptocurrency for any reason. Make sure your gift is correct before completing it!
Yes ― your cryptocurrency donation is tax-deductible. Because it’s a non-cash donation, it will not appear on your regular end-of-year giving statement. You will receive an email receipt as an acknowledgement of your gift, and it is your responsibility to document your gift(s) for tax purposes per current IRS guidelines.
A cryptocurrency gift is one of the most tax-efficient ways to give. Because donating cryptocurrency is a non-taxable event, you don’t owe capital gains tax on the appreciated amount and you can deduct it from your taxes.
We’re happy to answer your questions about cryptocurrency giving! Please contact us by email at treasurer@montrosechurch.org.