BitGive first tax exempt bitcoin charity

[taylortyler]

BitGive, a charitable foundation who utilizes the altruism of the Bitcoin community to improve worldwide public health and environmental issues, announced Monday that they have become the first Bitcoin nonprofit organization to receive official 501(c)(3) status from the IRS, which tremendously validates their charitable efforts.

http://coinfinance.com/news/bitgive-becomes-first-nonprofit-bitcoin-501c3-kicks-off-fundraising-efforts

[oceans]

This is great especially since any kind of charity can always do without having any kind of tax to be honest. It's a shame it took this long for a charity to be able to be exempt from tax but again it's another step in the right direction.

[allgoodthings1]

This is great especially since any kind of charity can always do without having any kind of tax to be honest. It's a shame it took this long for a charity to be able to be exempt from tax but again it's another step in the right direction.

True that.  The EO registering process is extremely long and arduous, and turns away many good charities from seeking this distinction.  Fr33 Aid is one that comes to mind. http://www.fr33aid.com/1163/fr33-aid-abandons-irs-application-qa/

[franky1]

just a shame they are middle men and not actual people doing front line work. and because im not converting to FIAT to get taxed anyway it has no IRS relevance to me anyway.

but goodluck with their efforts, cant wait to see some video's of wat their funds will actually result in once it reaches the front line

[montello]

Tax exempt Bitcoin charity is really refreshing and great move in the right direction for BTC development.

[YesBoss69]

These guys have got the limelight already it seems, according to this http://cointelegraph.com/news/112382/bitgive-officially-recognized-as-charity-by-irs-secures-80-of-funding-target they've got 80% funding on their most recent project already regardless of the tax exemption ruling.. interesting to see if the momentum keeps up tbh. also noticed ceo is called Gallippi too, shrewd move there i think!