nonprofit

If anyone runs or knows of a 501(c)(3) charity willing to:

1. Set up a Farcaster profile
2. Connect an Ethereum address
3. Accept donations in USDC on @base via Pay on Warpcast

Would be happy to feature them in some marketing and I'll personally donate the first $100.

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

building families as ED and cofounder of The Surrogacy Foundation; pfp /beans

community builder /bright-moments, storyteller, AI enthusiast, activist, nonprofit founder /crystal-hearts 🤍🇺🇦📍Venice Beach

Cohost /gmfarcaster livestream Farcaster news show 🎙️💬 Founder Tenger Ways, bringing joy into work with DevOps practices 🤗 mom x 3 💗

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

working on @endaoment, hosting /philanthropy


Also you would need to either convert immediately or keep a record of value in USD at time of transfer for you 990 tax filing at EOY

I’d be interested in @heegs thoughts here

Is there an easy way to create another WC account for the foundation without signing out everywhere?

It is still considered property by the IRS 🤷‍♂️

Thx Zach. No giving software intermediary in this scenario.  
I also got this piece of info from someone, which made it seem like donor could generate a receipt but they'd still need our taxid

"Tax note: If donors do give crypto directly, a nonprofit cannot assign a monetary value, as crypto is treated as an in-kind donation. Valuation is up to the donor and their tax advisor."