By Keely Baribeau

It’s a word that made headlines at year end: Cryptocurrency. Whether you’re a crypto pioneer in bitcoin or have some alternative coins, like ethereum, to explore its potential, one thing is clear: when it’s up big, it’s a powerful way to give back to the community you love.

Since 2022, the Community Foundation has embraced crypto giving, recognizing its potential to transform local philanthropy. “Crypto has gone mainstream for individuals and some institutions,” explained Jackie Hanton, Vice President of the Community Foundation. “Donors are realizing the tax advantages of donating their crypto holdings that have seen significant gains while being able to make a real difference in their communities.”

As this article is written, the $100,000 plus highs of bitcoin have cooled a bit, but donors are asking how to make donations and how to get qualified appraisals and the Community Foundation can help.

How Crypto Philanthropy Works

Your cryptocurrency donation can be directed to various areas:

• Existing Funds: Support the causes you care about most by contributing to established funds within the Community Foundation.
• General Operations: Empower the Foundation’s work in addressing the most pressing local opportunities and needs in St. Clair County.
• Designated Nonprofits: Direct your crypto gift to the fund of a nonprofit you love.
• Donor Advised Funds (DAFs): Establish a donor-advised fund (DAF) and use your crypto donation to make a difference on your timeframe and with charitable causes you care most about.

Giving Crypto

“Giving crypto is a great solution for donors looking to make a direct and tangible impact but want a trustworthy organization to handle the donation process.,” Hanton emphasized. The Community Foundation partners with a cryptocurrency expert on a secure and seamless crypto donation platform, ensuring each gift is completed quickly and donors have the information they need for a qualified appraisal for tax purposes.

Making a Lasting Difference Together

Crypto philanthropy at the Community Foundation is an investment in the future and prosperity of St. Clair County. It is a way to leverage the power of digital currency in order to address community opportunities, support local initiatives, address challenges and create a brighter tomorrow. Just as any other gift can be applied towards the priority area of a donor’s choosing, so can crypto.

We encourage you to explore the diverse giving options available through the Community Foundation, including the exciting potential of crypto philanthropy. Whether you are passionate about community enhancement, social causes, aid organizations or economic development, we can help you find the perfect way to make a difference.

Ready to learn more? Contact Jackie Hanton at stclairfoundation.org to discover how you, your family or your business can partner with the Community Foundation and unlock the power of crypto – or other asset gifting options – for community impact. Help us build a stronger, more vibrant St. Clair County, one crypto donation at a time.