NFT stands for Non-Fungible Token. NFT is a smart contract typically built on the Ethereum blockchain, a decentralized ledger where public transactions are stored. An NFT is like a digital certificate of authenticity that serves as proof of ownership. Supporters can donate the proceeds from the sale of an NFT to Miami Jewish Health Foundation through our Cryptocurrency donation page if donors convert it to one of the cryptocurrencies that we accept such as ETH.

Yes, your cryptocurrency donation is tax deductible.  Miami Jewish Health Foundation offers supporters who want to donate cryptocurrency the ability to give in a tax-efficient way. The IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax and are tax-deductible to the fullest extent permitted by law. For example, for donors in the United States, the IRS has classified bitcoin as property for tax purposes. This means that when someone donates bitcoin and other cryptocurrencies to a 501(c)(3) nonprofit like Miami Jewish Health Foundation, donors do not have to pay capital gains tax and it is tax-deductible if you provide your email address.
*Please consult your tax advisor. You can donate anonymously but you will not receive a tax receipt unless you provide at least your email address.

Donating Bitcoin and other cryptocurrency is one of the most tax-efficient ways to support Miami Jewish Health’s mission of honoring and enriching lives with empathy, purpose and grace. To learn more about how donating cryptocurrency to a charity can lower your taxes, check out The Giving Block’s tips or talk to a tax professional.