Donate Cryptocurrency to the YMCA
The YMCA of the Suncoast now accepts cryptocurrency donations! All donations support our financial assistance program to ensure Y programs are open to all regardless of an individual’s or family’s financial circumstances.
Questions About Donating Cryptocurrency
Cryptocurrency (crypto) is a form of payment that can be exchanged for goods and services. There are a variety of cryptocurrencies available on the market, often called tokens, and these can be traded for goods or services. Read more here.
There are currently about 101,000,000 people who use and invest in cryptocurrency today. As the popularity of crypto increases, donors of all ages and economic status have the ability to donate.
Yes, cryptocurrency donations are tax-deductible! Cryptocurrencies like Bitcoin are classified as property by the IRS. Donors who give cryptocurrency to a 501(c)(3) nonprofit pay no capital gains taxes on the appreciated assets. In other words, cryptocurrency is often a smart way for donors to give. If you itemize your federal tax return your contribution can be tax-deductible. (Please consult your tax advisor. You can donate anonymously but you will not receive a tax receipt.)
Once a crypto donation has been processed and the Y receives it, the donation is converted into US Dollars then transferred or deposited to the YMCA of the Suncoast's Annual Campaign. Funds from the campaign are used to help individuals and families in the community gain access to programs and memberships they may otherwise would not be able to afford.
A COPY OF THE OFFICIAL REGISTRATION AND FINANCIAL INFORMATION MAY BE OBTAINED FROM THE DIVISION OF CONSUMER SERVICES BY CALLING TOLL-FREE WITHIN THE STATE 1 800 435 7352 OR BY VISITING THE WEBSITE, WWW.800HELPFLA.COM. REGISTRATION DOES NOT IMPLY ENDORSEMENT, APPROVAL, OR RECOMMENDATION BY THE STATE. REGISTRATION #CH1176.