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adrienne
@adrienne
Question for my nonprofit friends and 501(c)(3) Ops people, If you accept crypto directly to a wallet address and not through an intermediary, are you providing tax deductible receipts? How would you see that working if you (hypothetically) accepted payments through Pay on Warpcast? Do nonprofits ever accept donations and say "sorry no receipt". I'm thinking through scenarios as I get this set up cc: @zachfrench @irinaliakh
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Zach French
@zachfrench
Most of the giving software automatically generates receipts. In this instance you could put it on the donor to generate a receipt However anything over $250 and you are required to give an acknowledgment letter So you’d need to gather a bit of PI
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Zach French
@zachfrench
Btw /philanthropy is the channel to post in
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Rob Zombie
@heegs
My understanding: You’re more than welcome to provide receipt for any donation you receive as a c3. Value of deduction is on donor to prove/substantiate in their own tax return. You (the c3) just have to provide acknowledgement if the donor requests. Depending on what you do with the gift, the size of the gift, and when you sell the gift might have additional reporting requirements. We built @endaoment to eliminate this overhead and handle the receipting and reporting for nonprofits and donors alike.
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Sam (crazy candle person) ✦
@samantha
Doing this and we are providing deductible receipts. If we get the usdc, we’ll probably just send them a form to fill out to get their info and email them the receipt! I do know we have automated software too so maybe that as well
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Christina BorrowLucid
@borrowlucid.eth
these might help https://endaoment.org/ https://www.givepact.io/
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