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Creative Waves Foundation

Creative Waves Foundation

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Mission Statement

Founded by Grammy-nominated songwriter, Ali Tamposi, the Creative Waves Foundation aims to support aspiring musicians in their pursuit of artistic fulfillment by harnessing the transformational power of music & music education. Creative Waves achieves this by helping to eliminate financial challenges young artists face so they can reach their full potential.

Why Donate Bitcoin to Creative Waves Foundation?

The IRS (and many other tax departments internationally) treat cryptocurrencies as property assets, making donations tax-free for the nonprofit and a charitable write-off for the donor.

Unlike traditional transaction methods such as credit card payments and ACH or wire transactions (or worse—checks!), which can take days to process completely and clear, sending bitcoin and other cryptocurrencies directly to a nonprofit only takes around 10 minutes until the nonprofit receives the funds.

Save on your Taxes by Donating Crypto

Why Donate Crypto Directly? Taxes!

There’s a reason high net worth individuals tend to donate property instead of cash. Donating cryptocurrency directly to a 501c3 nonprofit is more tax efficient and can save you money.

The IRS classifies cryptocurrency as property for tax purposes which means it is typically the most tax efficient way to support your favorite cause. When donating crypto, You receive a tax deduction for the fair market value of the crypto, and you avoid the capital gains tax you would have incurred if you had sold the crypto and then made a donation. That means you’re able to donate more, as well as deduct more on your tax return. The difference? Sometimes more than 30%.

If you provide an email, you will automatically receive a tax receipt after donating.

Website: https://www.creativewavesfoundation.org/

TAX ID: 85-1557804

Organization Type USA: Other

Location: USA

Mission Statement

Founded by Grammy-nominated songwriter, Ali Tamposi, the Creative Waves Foundation aims to support aspiring musicians in their pursuit of artistic fulfillment by harnessing the transformational power of music & music education. Creative Waves achieves this by helping to eliminate financial challenges young artists face so they can reach their full potential.

Why Donate Bitcoin to Creative Waves Foundation?

The IRS (and many other tax departments internationally) treat cryptocurrencies as property assets, making donations tax-free for the nonprofit and a charitable write-off for the donor.

Unlike traditional transaction methods such as credit card payments and ACH or wire transactions (or worse—checks!), which can take days to process completely and clear, sending bitcoin and other cryptocurrencies directly to a nonprofit only takes around 10 minutes until the nonprofit receives the funds.

Save on your Taxes by Donating Crypto

Why Donate Crypto Directly? Taxes!

There’s a reason high net worth individuals tend to donate property instead of cash. Donating cryptocurrency directly to a 501c3 nonprofit is more tax efficient and can save you money.

The IRS classifies cryptocurrency as property for tax purposes which means it is typically the most tax efficient way to support your favorite cause. When donating crypto, You receive a tax deduction for the fair market value of the crypto, and you avoid the capital gains tax you would have incurred if you had sold the crypto and then made a donation. That means you’re able to donate more, as well as deduct more on your tax return. The difference? Sometimes more than 30%.

If you provide an email, you will automatically receive a tax receipt after donating.

Website: https://www.creativewavesfoundation.org/

TAX ID: 85-1557804

Organization Type USA: Other

Location: USA

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Why Donate Cryptocurrency? | FAQs