BTRIC is a non-profit economic development organization. We are supported by contributions from people, businesses, and organizations that believe in our work and its benefits to the emerging technology industry. Contributions to BTRIC are tax-deductible to the extent allowed by law. Consult your tax advisor for more information.
BTRIC depends on donations, monetary, asset, and in-kind, to continue our work. We seek partnerships with investors and other groups that have an interest in advancing projects through to their successful launch as businesses. In return for their donations, they receive invaluable connections to the latest projects. As a condition for entry into our Innovations Incubator program, projects agree to reward all donors to their project (including all BFD Token holders). Because every project is different, with differing legal jurisdictions and regulatory requirements, the types of those rewards will vary (as all must be legally compliant).
With the exception of anonymous donations made to cryptocurrency “collection jar” addresses, all donations will be acknowledged by receipts, appraisals, or other documentation required so that our donors can receive any tax benefit to which they may be entitled. Unlike many non-profit business incubation organizations, we do not operate in a specific geographic area, so we may not be eligible for grants that are spatially based. We will apply for grant funding and for contracts with government entities to implement pilot projects, provided these projects are within the scope of our charitable purpose of identifying, researching, developing, and promoting emerging technologies. Generally, grant funds from government entities can only be used to implement the specific terms of the grant. Grant funds from other non-profit organizations may be able to support aspects of our overall purpose, subject to the requirements of the organization making the grant.
Monetary donations (including cryptocurrencies)
If you would like to donate to BTRIC, enter the amount of your donation below and we will process your payment. We accept online donations via credit and debit cards, PayPal, and many cryptocurrencies through CoinPayments.net.
Donations of assets
Donations of equipment, supplies, and other assets are used to advance BTRIC’s mission. In some cases, contributions of crypto assets are considered assets, rather than monetary contributions. Even though we have our donate form above under “monetary donations”, we will treat crypto asset donations as either a monetary or an asset donation as required by law.
Cryptocurrency collection jar addresses
We accept anonymous donations of crypto assets through the “collection jar” addresses, the electronic equivalent of the donation jars you have seen in real-world retail locations.
As an organization that supports and promotes the entire crypto asset industry, we accept many types of crypto assets. They are not all listed here, but we hope to improve the donor experience soon to feature more currencies.
These addresses are anonymous “collection jar” payment addresses:
- Bitcoin “collection jar” address: 1btricdjXr4uAFnxPULmzpXmaVWnP25o6
- Bitcoin SegWit “collection jar” address: 3JCcgYU3JUjwbbLauoGgAghTeNVhMQ3WJF
- Ethereum “collection jar address: 0xbfdf3e7423a3d2f597125fdd72bb15fa2996e633
- Litecoin “collection jar” address: LbtricaUm6v83UqxxLEfZuXofRezdbi9Hu
- Bcash “collection jar” address: 1btriciBgpNeuKkT8n8uTuytKfTo6iM1d
We welcome donations of other crypto assets, including newly launched ICO/ITOs. Please contact us at firstname.lastname@example.org to contribute.
Equipment and supplies
We also accept donations of equipment, supplies, and software that is usable and can help us advance our mission. For example, the donation of a company’s depreciated servers or other equipment could be very useful for BTRIC’s R&D facilities, and we welcome contributions of this type to help our initiatives have more impact. As with any other donation, the fair market value of these contributions are tax-deductible to the extent permitted by law. Please contact us at email@example.com to arrange for donations of equipment, supplies, and/or software.
In-kind donations are donations, including discounts, on products and services that BTRIC needs to implement its initiatives. If you work in the field and you volunteer your time with BTRIC, this could be considered an in-kind contribution. The fair market value of these products and services is the cost basis for a tax deduction. For example, if a donor provided a service at a 50% discount to their normal rates, the other 50% may be considered a donation and is generally tax deductible.
Tax benefits of giving
The following summary is excerpted, in part, from Charity Navigator’s website. It describes general information about the tax benefits of making donations to 501(c)(3) charitable organizations. This brief summary of certain federal income tax laws is provided for informational purposes only. We urge you to consult your tax advisor for the federal, state, and local tax consequences of a charitable contribution.
- A gift to a qualified charitable organization may entitle you to a charitable contribution deduction against your income tax if you itemize deductions. You must itemize in order to take a charitable deduction. Make sure that if you itemize, your total deductions are greater than the standard deduction. If they’re not, stick with the standard deduction.
- A contribution is deductible in the year in which it is paid. Putting the check in the mail to the charity constitutes payment. A contribution made on a credit card is deductible in the year it is charged to your credit card, even if payment to the credit card company is made in a later year.
- There are limits to how much you can deduct, but they’re very high. For most people, the limits on charitable contributions don’t apply. Only if you contribute more than 20% of your adjusted gross income to charity is it necessary to be concerned about donation limits. Under the new tax law, if the contribution is made to a public charity, the deduction is limited to 60% of your contribution base. For example, if you have an adjusted gross income of $100,000, your deduction limit for that year is $60,000 USD.
- Rules exist for non-cash donations [including cryptocurrency]. If you contribute property owned for more than one year, the value of the deduction is normally equal to the property’s fair market value. You have an advantage when you contribute appreciated property, such as cryptocurrency, because you get a deduction for the full fair-market value of the property. You are not taxed on any of the appreciation, so, in effect, you receive a deduction for an amount that you never reported as income.
- You need to maintain proper documentation of your contributions. If you want to claim a charitable deduction for a cash gift, then you must be prepared to verify your claim. In other words, you cannot deduct the spare change dropped in a charity’s collection bucket without the proper documentation. If you are audited, the IRS will only accept one of the following to substantiate a monetary gift: a canceled check, credit card statement, bank statement or a written acknowledgment from the charity.
- The IRA charitable rollover offers tax benefits for those who qualify. The IRA Charitable Rollover allows individuals who are 70 1/2 years old to donate up to $100,000.00 USD to charitable organizations directly from their IRA, without that donation being counted as taxable income when it is withdrawn. To qualify, contributions must come from a traditional IRA or Roth IRA, and they must be made directly to a qualified charitable organization. Additionally, the donor may not receive goods or services in exchange for the donation, and they must retain a receipt from each charity to which a donation is made.
Remember, it’s always better to give than receive. The glory of charitable donations is that you can give and receive at the same time.
BTRIC reserves the right to refuse donations that are “earmarked” or have other encumbrances on them if they do not comport with our mission and purpose. We also reserve the right to decline donations from any party, including parties that promote hate, violence, discrimination, or criminal activity. We will refuse and/or return donations from any parties we are not permitted to accept pursuant to applicable law and regulations, including economic sanctions regulations.
For additional information
If you have any questions about our donation options, please reach out to us by email at firstname.lastname@example.org, or by calling us at +1 732-719-6839.