A nonprofit’s guide to accepting cryptocurrency donations

Provided by Forvis Mazars

Your nonprofit may be able to unlock a new source of funding: cryptocurrency (crypto) donations. The crypto markets had more than $1.6 trillion in market value at the end of 2023.1 When a donor approaches your nonprofit with a large crypto donation, will you be ready?

Forvis Mazars presents key considerations for why your organization might consider accepting crypto donations as well as a four-step process for doing so.

Why Consider Accepting Crypto Donations?

• A total of 52 million Americans own crypto.
• The average crypto donation in 2022 ($6,295) was nearly 31 times larger than the average online gift ($204).3
• In addition, more than 90% of cryptocurrency donation volume came from gifts worth at least $5,000 at the time of donation.4
• In 2020, nearly half of all crypto owners donated $1,000 or more to charity.5
• In 2022, 99.9% of donated crypto were gifts of $5,000 or more.6

Read the four steps process?