January 11, 2022 Update: We have paused cryptocurrency donations pending a review of its impact on our climate change commitments. We will update this page with our new acceptance policy in the coming months. If you have questions, contact us at firstname.lastname@example.org.
- 1 What cryptocurrencies are accepted? (Updated 12/20/2021)
- 2 What wallets and exchanges are supported by BitPay? (Updated 12/20/2021)
- 3 Is Mozilla worried about the fluctuating value of cryptocurrencies?
- 4 Does giving cryptocurrency result in more of my charitable donation going to transaction fees?
- 5 Is it tax-deductible to donate cryptocurrencies?
- 6 Are there any special tax rules for contributions of cryptocurrency?
- 7 What documentation does Mozilla provide to donors?
- 8 What personal information does Mozilla require cryptocurrency donors to provide?
- 9 If I donated in cryptocurrency, can I request a refund of my donation?
What cryptocurrencies are accepted? (Updated 12/20/2021)
Through BitPay, we can accept donations of most major cryptocurrencies including: Bitcoin (BTC), Bitcoin Cash (BCH), Dogecoin (DOGE), Ethereum (ETH), Litecoin (LTC), SHIB, Wrapped Bitcoin (WBTC), XRP [excluding United States], and 5 USD-pegged stable coins (GUSD, USDC, USDP, DAI, and BUSD).
What wallets and exchanges are supported by BitPay? (Updated 12/20/2021)
You can find a list of supported crypto wallets here: https://support.bitpay.com/hc/en-us/articles/115005701523-Which-wallets-work-best-for-a-BitPay-payment-
Is Mozilla worried about the fluctuating value of cryptocurrencies?
No. Mozilla’s service provider, Bitpay, provides Mozilla and other nonprofit clients the ability to convert cryptocurrencies received into U.S. dollars immediately after they are donated. Thus, Mozilla does not hold these assets long enough for any fluctuations in value to affect the value of a donation.
Does giving cryptocurrency result in more of my charitable donation going to transaction fees?
No. Bitpay’s service fees, at a flat 1%, are actually lower than credit card or Paypal transaction fees.
Is it tax-deductible to donate cryptocurrencies?
The Mozilla Foundation is a California non-profit corporation exempt from United States federal income taxation under IRC 501(c)(3) and a public charity classified under IRC sections 170(b)(1)(A) and 509(a)(1). Cryptocurrency donations Mozilla receives are considered charitable contributions under U.S. federal tax laws, to be used in its discretion for its charitable purposes.
Are there any special tax rules for contributions of cryptocurrency?
Because the IRS has indicated that it will treat cryptocurrency as property for U.S. tax purposes (see IRS Notice 2014-21), donations of cryptocurrency may be subject to special rules as to the amount of your charitable deduction, the documentation that must be provided to claim a tax deduction (which may include specific tax forms or qualified appraisals), or other matters. (See http://www.irs.gov/taxtopics/tc506.html for an overview.) Depending on your individual circumstances, a gift of cryptocurrency could have better or worse tax consequences than a cash gift. You may wish to consult your tax advisor about the tax consequences of giving cryptocurrency in your specific circumstances and about the documentation required in order to claim a deduction.
What documentation does Mozilla provide to donors?
We appreciate our donors and are happy to provide confirmation of their donation upon request. All cryptocurrency donors should automatically receive an acknowledgment of their donation for U.S. tax purposes, sent via email to the address they provide when they donate.
Depending on the amount of their non-cash contributions during the year, donors may also determine that they need the Mozilla Foundation to sign a Form 8283 confirming its receipt of their donation (e.g., if their total bitcoin donations to all charities for the year exceed $5,000). Mozilla Foundation is happy to sign a donor’s Form 8283 upon request, but it is the donor’s sole responsibility to determine whether this is necessary and, if so, to provide the form for signature at least 10 business days in advance. PDF copies of the form may be sent to email@example.com for signature. Any other documentation (e.g., an appraisal) remains the donor’s sole responsibility.
What personal information does Mozilla require cryptocurrency donors to provide?
In most cases, Mozilla requires only an email address, which is necessary so that Mozilla can send them an acknowledgment letter for tax purposes.
For cryptocurrency contributions of more than $5,000, and other contributions for which the donor provides Form 8283 to Mozilla for signature, Mozilla expects to file a Form 8282 with the IRS in connection with any subsequent disposition of the donated cryptocurrency during the three years following the gift. In such cases, we will request the donor’s name, address, and U.S. tax identification number so that we can properly complete our tax forms. Typically, the donor is required to provide that information to Mozilla on a Form 8283 in any event, in order to secure his or her own tax deduction (see above). If we do not hear from a donor within 90 calendar days from the date of his or her donation, we reserve the right to file the Form 8282 using our best available information.
If I donated in cryptocurrency, can I request a refund of my donation?
Unfortunately, cryptocurrency donations to the Mozilla Foundation are not refundable, except as may be required by law or in exceptional circumstances.