IRA Charitable Rollover

If your property has a high value, you may elect to donate a portion of the equity to the ETV Endowment (falling under a Bargain Sale - IRS Section 170).

When making a donation through your IRA, please mail the donation to the ETV Endowment at the address below:

ETV Endowment
401 East Kennedy Street, Suite B-1
Spartanburg, SC 29302

Crypto philanthropy is a new and exciting fundraising avenue for nonprofit organizations like the ETV Endowment. With more than 220 million users worldwide and the value of many cryptocurrencies rising, the cryptocurrency community is in a position to make a wide-reaching impact through philanthropy. Donating cryptocurrency is also one of the most tax-efficient ways to support programming that matters to you.

The IRA Charitable Rollover allows donors to make “qualified charitable distributions” directly from a retirement plan. Gifts up to $100,000 are excluded from federal income. For couples filing a joint tax return, each spouse can exclude up to $100,000 for a maximum of $200,000 each year.

We currently accept more than 100 cryptocurrencies, including:

• Bitcoin (BTC)
• Ethereum (ETH)
• Aave (AAVE)
• Alchemix (ALCX)
• Amp (AMP)
• Ankr Network (ANKR)
• ApeCOIN (APE)  
• API3 (API3)
• Axie Infinity Shards (AXS)
• Audius (AUDIO)
• Balancer (BAL)
• Bancor Network Token (BNT)
• BarnBridge (BOND)
• Basic Attention Token (BAT)
• Bitcoin Cash (BCH)
• ChainLink (LINK)
• Civic (CVC)
• Compound (COMP)
• Curve (CRV)
• Dai (DAI)
• Decentraland (MANA)
• DeFI Pulse Index (DPI)
• Dogecoin (DOGE)
• Dogelon Mars (ELON)
• Enjin Coin (ENJ)
• Ethereum Name Service (ENS)
• Fantom (FTM)
• Fetch AI (FET)
• Filecoin (FIL)
• Gala (GALA)
• Gemini Dollar (GUSD)
• Injective Protocol (INJ)
• Keep3r (KP3R)
• Kyber Network (KNC)
• Lido (LDO)
• Liquity (LQTY)
• Liquity USD (LUSD)
• Litecoin (LTC)
• Livepeer (LPT)
• Loopring (LRC)
• Magic Internet Money (MIM)
• Maker (MKR)
• Maple Finance (MPL)
• Mask Network (MASK)
• Merit Circle (MC)
• Mirror Protocol (MIR)
• Moss Carbon Credit (MCO2)
• Numeraire (NMR)
• Orchid (OXT)
• PAX Gold (PAXG)
• Polygon-ERC20 (MATIC)
• Quant (QNT)
• Radicle Rally (RLY)
• Raydium (RAY)
• Radicle (RAD)
• Ren (REN)
• Render Token (RNDR)
• Saber (SBR)
• Shiba Inu (SHIB)
• Skale (SKL)
• Smooth Love Potion (SLP)
• Solana (SOL)
• Somnium Space (CUBE)
• Spell Token (SPELL)
• Storj (STORJ)
• SushiSwap (SUSHI)
• Synthetix (SNX)
• Tezos (XTZ)
• The Graph (GRT)
• The Sandbox (SAND)
• UMA (UMA)
• Uniswap (UNI)
• USD Coin (USDC)
• Wrapped Centrifuge (wCFG)
• Yearn.Finance (YFI)
• Zcash (ZEC)
• 0x (ZRX)
• 1inch (1INCH)

We are continually in the process of adding support for new cryptocurrencies, so please check back soon for more giving options.

If you don’t see a cryptocurrency you would like to donate in, please fill out this form to be connected with our crypto philanthropy partners at The Giving Block.

You are making a qualified charitable distribution if:

• You are at least 70½ years old at the time the distribution is made.
• The distribution is made from either a Traditional or Roth IRA.
• The distribution is made to a qualified charitable organization, like the ETV Endowment of South Carolina, Inc.

Yes! Cryptocurrency donations are one of the most tax-efficient ways to give to the ETV Endowment. Your donation is tax-deductible to the fullest extent permitted by law if you pay taxes in the U.S. By making a charitable gift, you may also be eligible to reduce what you would otherwise owe in capital gains taxes.

As with any tax-related questions, be sure to consult with a qualified, professional tax advisor who is knowledgeable in cryptocurrency and your specific financial position. Get more information about lowering your cryptocurrency taxes.

Yes. The IRA rollover gift will count towards a donor’s yearly RMD.

Since cryptocurrency donations are immediately converted into U.S. dollars, all donations made via The Giving Block are final. We are not able to give refunds if you change your mind or sent the wrong cryptocurrency.

The Giving Block does not, has not and will never offer any form of cryptocurrency airdrop, goods or services in return for a donation. 

• Donors who do not itemize or claim a deduction for their charitable contributions.
• Donors who itemize but are unable to deduct fully their current year contributions.
• Donors who normally use withdrawn funds to make charitable gifts that are not fully deductible.
• Donors who are bumped into a higher tax bracket and phased out of certain deductions and credits once their annual distributions are reported as income.

Yes! Our partner, Giving Property, powered by CARS,  has a national real estate auction platform and partners with a national title company so we can quickly vet assets and convert them to cash without the ETV Endowment ever having to own or operate the asset. Also, using the IRS Bargain Sale, the ETV Endowment can accept real estate with mortgage debt and high-value assets with a portion of the equity going to the ETV Endowment and a portion in cash to the donor.

No. Donors receive a financial benefit by being allowed to exclude up to $100,000 of
the charitable distribution from income on the federal return. To allow a charitable deduction would result in a double benefit.

Any type of property that has positive equity, clear title and no environmental issues may be donated. Common property types are land, second homes, rental property, commercial real estate and estates. We do not accept timeshares or mobile homes.

Yes. Although a charitable deduction is not allowed, the entire distribution to the ETV Endowment of South Carolina must meet the same requirements as a fully deductible charitable contribution. As such, no benefits can be received in exchange for the rollover gift. For example, the gift cannot be used to purchase tickets to special events or to fund a life-income arrangement such as a charitable gift annuity.

Most donated properties will be completed within 90 days, and some as quickly as 14 days.

The process is simple. A donor will need to contact his or her plan administrator and request a Qualified Charitable Distribution, or QCD, be made directly to the ETV Endowment of South Carolina, Inc. If the donor first receives the distribution and then makes a gift of the funds, the contribution will not count as a qualified charitable distribution. The donor will have to report the distribution as income. In some cases, the donor may be able to claim a charitable deduction for the amount of the gift.

Another option for making a QCD is through an IRA checkbook, provided by the financial institution. Instead of requesting a transfer from the IRA custodian, the account holder writes a check to the charity from the IRA checkbook. 

Real estate donations are based on the full appraised value, not the sale price. Capital gain tax may also be avoided (excluding the mortgaged portion or cash received). The deduction can be carried forward up to five years following the year of sale.

In most cases, you may deduct the difference between the cash received and the fair market value based on an appraisal specifically completed to assess the value based on IRS gift appraisal guidelines. You may not deduct proceeds that were applied to pay off mortgages or back real estate taxes.

Gift must be received by December 31st for donors to realize the full benefits in the current tax year.

Yes, the ETV Endowment will resell the property with its national auction partner and the proceeds of the auction sale will pay off the mortgage balance first, with the remainder going to the ETV Endowment (after normal closing costs such as escrow, title fees, transfer tax, real estate commissions, etc.). Prior to the auction we will determine if the likely value exceeds the mortgage balance and we may have to reject any asset that does not have sufficient equity to result in cash proceeds to the ETV Endowment.

When making a donation through your IRA, please request that your financial institution include your name, address and Member ID with the check that is mailed to the Endowment.