as a form of donation!
The First Masjid on the Planet to Accept Digital Assets as a form of Donation
Alhumdulilah in accordance with SEC regulations — Masjid Bilal is now officially the first Masjid on the planet to offer its community the ability to donate digital assets such as cryptocurrencies!
IRS classifies "cryptocurrency donations as property, meaning they are not subject to capital gains tax and are tax-deductible". Since we are a non-profit your donation is tax-deductible to the fullest extent.
Great way to lower your Tax bill. The IRS indicates that "donating or gifting cryptocurrency are not taxable events, so you will not recognize any gains when gifting or donating appreciated crypto assets."
Large Crypto Donations
If you'd like to make a large crypto donation — we recommend that you get in touch with us so that our team may assist you if needed :)