Cryptocurrency

Donation Process:

Hospice of the Northwest Foundation accepts donations of various cryptocurrencies through our secure platform powered by FreeWill.
When you donate cryptocurrency directly to our foundation, the transaction occurs on the blockchain and is processed through our qualified crypto payment processor.
We typically convert cryptocurrency donations to U.S. dollars shortly after receipt to minimize volatility risks and maximize the impact of your gift.
Minimum donation amounts may apply depending on the type of cryptocurrency and current network transaction fees.

Tax Implications:

The IRS classifies cryptocurrency as property for tax purposes, not as currency.
When you donate cryptocurrency you’ve held for more than one year directly to a qualified nonprofit like ours, you generally do not have to pay capital gains tax on the appreciation.
You may be eligible to claim a tax deduction for the full fair market value of the cryptocurrency at the time of your donation.
For tax reporting purposes, you’ll need to document the acquisition date and cost basis of the donated cryptocurrency.
Donations valued at $250 or more require a written acknowledgment from our foundation.
Cryptocurrency donations valued at $5,000 or more typically require a qualified appraisal to substantiate your charitable deduction.

Security and Processing:

Our cryptocurrency donation platform implements industry-standard security protocols to protect your transaction.
Due to the irreversible nature of cryptocurrency transactions, please verify all wallet addresses before completing your donation.
Processing times may vary depending on network congestion and the type of cryptocurrency being donated.
Blockchain transaction fees are typically covered by the donor and are separate from the donation amount.

Getting Started:

Before making a cryptocurrency donation, we recommend consulting with your tax advisor to understand the specific implications for your situation.
Hospice of the Northwest Foundation can provide general information but cannot offer legal or tax advice regarding cryptocurrency donations.
For assistance with making a cryptocurrency donation, please contact us at (360) 814-5702 or foundation@hospicenw.org.

This information is provided for educational purposes only and is not intended as legal, tax, or financial advice. Cryptocurrency markets are volatile, and donations are subject to market conditions at the time of transfer. Please consult with qualified professional advisors regarding all financial, tax, and legal matters.