HOW CAN CRYPTOCURRENCY CHANGE THE WORLD?
There are too many people in our world who don’t have access to surgical care that’s timely and affordable – 5 billion. And yet, few people understand the severity of this problem.
Most people lacking access to surgery are often the poorest in their countries, excluded from care due to economic and social barriers and residing in remote locations far from surgical sites.
For decades, Operation Smile has provided cleft surgery and related treatments to help children in low- and middle-income countries. Often, we are faced with having to turn away people who aren’t healthy enough to receive surgery due to malnutrition, anemia, ear and respiratory infections, and other factors.
“We’re right at the stage where disruptive innovation is essential. It is virtually impossible to take care of all the need that exists. If you don’t change the way you deliver care, it’s like saying … tough luck.”
- Operation Smile Co-Founder and CEO Dr. Bill Magee
Alongside forward-thinking investors who believe in redesigning a better system, we can ensure that more children and families benefit from sustainable health care solutions in their community that address their needs, on their terms, working hand in glove with local hospitals and ministries of health. We would love to hear from you if you have an interest in speaking with one of our major gift officers.
3 REASONS TO DONATE CRYPTOCURRENCY
Your crypto donation provides Operation Smile a new opportunity to raise critical funds, one that capitalizes on the full value of your contribution and demonstrates social responsibility. Please consult your accountant, attorney or financial advisor to ensure your gift is tax-deductible to the fullest extent permitted by current law.
1. IS MY CRYPTOCURRENCY DONATION TAX DEDUCTIBLE?
Yes. The IRS classifies cryptocurrency donations as property, and it is a non-taxable event for givers and receivers. Your contribution is tax-deductible in the United States to the fullest extent permitted by current law and supports our global mission in a tax-efficient way.
2. CAN MY CRYPTOCURRENCY DONATION OFFSET CAPITAL GAINS?
Yes. For donors in the United States, the IRS has classified Bitcoin as property for tax purposes, just like stocks. This means that when you donate Bitcoin and other cryptocurrencies to a 501(c)(3) nonprofit like Operation Smile, you may not have to pay capital gains tax. If you transfer to another cryptocurrency or to fiat prior to donating, you could lose the full tax benefit of donating directly to a nonprofit in cryptocurrency.
3. CAN YOUR DONATION INCREASE CRYPTO ADOPTION?
Yes! There are as many as 68 million blockchain wallet users worldwide as of February 2021. As a quick, easy and convenient option for these individuals, The Giving Block helps nonprofits accept cryptocurrency donations to encourage greater mainstream adoption and destigmatize its use. Your donation helps normalize cryptocurrency as an option to give to the greater good.
WHICH CRYPTOCURRENCIES DOES OPERATION SMILE ACCEPT
Operation Smile accepts Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), ZCash (ZEC), Litecoin (LTC), Basic Attention Token (BAT), Chainlink (LINK) and the Gemini Dollar (GUSD) through The Giving Block.
If you want to learn more about how donating cryptocurrency to a nonprofit can lower your taxes, check out The Giving Block's FAQs or consult your tax advisor.
The tax information provided is general and educational in nature, and should not be construed as legal or tax advice. Operation Smile does not provide legal or tax advice. Content provided relates to taxation at the federal level only. Tax laws and regulations are complex and subject to change, and changes in them may have a material impact on pretax and/or after-tax results. Operation Smile makes no warranties with regard to such information or results obtained by its use. Operation Smile disclaims any liability arising out of your use of, or any tax position taken in reliance on, such information. Always consult an attorney or tax professional regarding your specific legal or tax obligations. Donations are processed by The Giving Block and, per our gift acceptance policy, cryptocurrency donations are immediately sold and transferred to Operation Smile in USD. Operation Smile does not maintain a reserve of cryptocurrency. All cryptocurrency donations to Operation Smile are final. To receive a receipt for your donation, please provide your email address when making the transaction.
