BitGive Foundation Gets Tax Exempt Status, Becomes First Bitcoin Charity to Receive Designation
The BitGive Foundation has become the first bitcoin charity to receive a 501 (c) (3) non-profit status with the Internal Revenue Service (IRS), according to a Monday morning announcement. The news comes just one year after the formation of the charity. As part of this major achievement, BitPay, Xapo, LibraTax, Roger Ver, and some others have started a fundraising campaign that will begin today, designed to build long-term funding for charitable giving. "One of our first goals was to secure our 501 (c) (3) status, which enables BitGive to provide US donors a tax deduction for their donation....
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Bitcoin Magazine is proud to announce the launch of BitGive Foundation, the first Bitcoin charity! BitGive is a non-profit foundation (IRS 501c3 status is pending) accepting donations from the greater Bitcoin community and offering charitable gifts to environmental and public health causes worldwide. As Bitcoin continues to grow in prominence and utility, BitGive Foundation provides the opportunity for you to give to those in need in the most expedient and efficient way: through the Bitcoin currency! The BitGive Foundation will provide charitable donations on behalf of the growing Bitcoin....
The BitGive Foundation announced today that it has become the first nonprofit bitcoin organization to achieve 501(c)(3) status, meaning the Internal Revenue Service (IRS) officially recognizes it as a charitable organisation in the US. This means that any gains made by the foundation will not be taxed, thus directing more money to its supported causes. BitGive executive director Connie Gallippi told CoinDesk that it is about more than just money, however: "It does give us legitimacy with the US government, which has been a huge struggle for bitcoin as far as businesses are concerned."....
CHANGETIP TEAMS UP WITH FIRST 501 (c) (3) BITCOIN CHARITY BITGIVE. Tip-Redirect Feature Allows For Automated Donations. SAN FRANCISCO - February 9th, 2015 - Today, fintech start-up ChangeTip announced that it has selected BitGive, the first Bitcoin charity registered as a 501 (c) (3), to benefit from its Tip Redirect feature. ChangeTip has many users who, due to their social or employment status, wish to not receive tips for their work. As a result, the company has set up an automatic Tip Redirection feature, enabling users to channel all their money to the charity of their choice. This....
During the Inside Bitcoins Chicago Conference, BitGive Foundation announced its newest initiatives in spearheading charity projects using the cryptocurrency. BitGive Foundation founder Connie Gallippi presented their results with the charity efforts in Kenya, as well as their plans for The Water Project. In Kenya, BitGive was able to conduct a fundraising process for a water well to the Shisango Girls School with the help of BitPesa and Libra. The 3-minute video she shared illustrated how bitcoin and the underlying blockchain technology has been able to transform lives in the country.....
Over the past three days, Bitcoin Magazine has featured stories about the BitGive Foundation; how it began and the work that it has done with charities including Save the Children, The Water Project and Medic Mobile. Its founder and sole full-time staffer, Connie Gallippi, has helped the organization grow to become the first registered tax-exempt bitcoin charity, spreading the word about Bitcoin's potential for positive change in the world. "We've continuously put out great efforts," says Gallippi, "and we have a lot of supporters who like our work. The community has been looking for ways....