Crypto Investing Within a Donor-Advised Fund FAQs:

I need a wallet address to complete my donation. Where can I access this information?

This information will be sent to you once your donor-advised fund account has been established.

How many times can I use the wallet address provided to me?

Once your wallet has been established, you will continue to use it to make additional crypto donations.

Can my donor-advised fund keep my crypto gift for liquidation at a later date?

Yes! Ren, in partnership with The Giving Block, developed a process that allows donors to keep crypto in a donor-advised fund. Renaissance Charitable Foundation Inc., the charitable sponsor of the donor-advised fund program, is one of the first major donor-advised fund sponsors to allow donors to invest crypto.

Will I get a receipt for my donation?

Yes. You will receive an immediate tax receipt upon transfer of your crypto via an email from The Giving Block.

Can I donate anonymously?

So that we may properly establish your account and credit your donor-advised fund, you must provide your name and contact information. However, you can recommend grants anonymously.

What types of crypto can I donate?

Bitcoin and Ethereum are both accepted in the crypto investment process. We are able to accept other types of cryptocurrencies for immediate conversion to cash.

What is the fee for donating crypto?

The wrap fee is typically between 1.5% – 2.5% of the total donor-advised fund value, but may vary based on advisor, custody, donor advised fund, and transaction fees

What is the minimum contribution value in the crypto investment process?

The minimum value to open a donor-advised fund in the crypto investment process is $100,000. Additional contributions of crypto valued at $5,000 or more are accepted.

What is the minimum contribution value when not using crypto as an investment?

The minimum value to open a donor-advised fund with cryptocurrency is $5,000. Additional contributions of crypto valued at $1,000 or more are accepted.

Can the donor-advised fund account be 100% invested in crypto?

No. The donor-advised fund account must maintain a 15% value in traditional (liquid) assets for grantmaking and expenses.

Do I need a financial advisor to manage the donor-advised fund account?

Yes. An advisor must be appointed to oversee the donor-advised fund investment accounts. If you do not work with an advisor, then one will be assigned to your donor-advised fund account.

Who owns the assets in the donor-advised fund?

Renaissance Charitable Foundation Inc. owns the assets once they have been donated to the donor-advised fund account.

Will I get online viewing access to my donor-advised fund?

Yes. You will receive online credentials to view information about your donor-advised fund account, make grant recommendations, and access account statements. It is important to note that valuations of crypto investments are performed daily (standard business days).

How are crypto contributions valued? 

The price of the crypto is captured at the time of contribution and used to value the contribution amount. It is important to note that for donations of virtual currency valued at more than $5,000, the donor must obtain a qualified appraisal to substantiate the charitable deduction.

Is the value of the cryptocurrency updated real-time in the donor-advised fund account? 

While the actual value of the cryptocurrency is always tracked, the value displayed for the donor-advised fund account is updated at the end of each business day.

Since the crypto market is open 24/7, will support also be provided 24/7? 

No. Support for the donor-advised fund account will be provided during normal business hours from 8AM – 5PM ET.