BitGive Becomes First IRS Tax Exempt Bitcoin Charity
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."....
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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....
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.....
Eight teams representing bitcoin companies in the San Francisco Bay area competed in a charitable tournament hosted by the BitGive Foundation on Sunday, 8th June at the Yerba Buena Gardens skating and bowling center. The fundraising event featured food, drink, crypto-related socializing and relaxation. Further, a number of leading bitcoin companies in the Bay Area participated including Coinbase, Xapo, Vaurum, BitPay, Kraken, Buttercoin, BitGo and BTCJam. The result was that bitcoins were also raised for a good cause. Entrance to the event cost 1 BTC per team, with some proceeds going to....
Giving Tuesday is coming December 1st and this year BitGive the first 501(c)(3) Bitcoin nonprofit is using its donations towards their Bitcoin Charity 2.0 Initiative. The plan is to create a transparency platform for donors and organizations using the blockchain for philanthropy. Founded in 2013 by Connie Gallippi BitGive was one of the first nonprofit charities representing the grassroots Bitcoin community. The organization has helped charity partners such as Save The Children, The Water Project, Medic Mobile, and more. The nonprofit has completed campaigns that have helped people access....