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Author Topic: [2014-08-25] CD: BitGive Becomes First IRS Tax Exempt Bitcoin Charity  (Read 704 times)
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August 25, 2014, 01:38:43 PM
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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.

http://www.coindesk.com/bitgive-becomes-first-irs-tax-exempt-bitcoin-charity/

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August 25, 2014, 05:01:39 PM
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The organization’s current campaign is for The Water Project, and has a fundraising goal of $10,000 in bitcoin. Gallippi said BitGive kicked the campaign off with 2BTC from the main fund and is encouraging the bitcoin community to contribute.

Progress is currently beyond 75% of the target so far, she said, adding:

“Now that we’re getting close to meeting our goal we’re finding a place to put the funding. They [The Water Project] basically build new wells for schools or for communities in Kenya and other countries in Sub-Saharan Africa.”
Great ways for US BTCers to offload some coin when tax season comes after a major rally.
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