Yes. Endaoment is a California-based Public Charity and Nonprofit Public Benefit Corporation, federally tax-exempt under IRS Rev. Code Sec 501(c)(3). Our EIN is 84-4661797.
See our IRS determination letter here:
Endaoment IRS Determination
See our 1023 packet here:
Form 1023 Packet - Endaoment.pdf
Endaoment 1023 Packet
Endaoment allows you to donate crypto assets in their original token form. This has several benefits:
- 1.The granted amount is equal to the fair market value of the donation (i.e., there is no tax on the sale).
Imagine that Anonymous Alex has $25,000 of Ether. Let's assume they purchased 10 ETH initially at $1,000 ($10,000 total), and that the federal long term capital gains rate is 25%.If Alex were to sell their 10 ETH worth $25,000 and then donate the proceeds, they would pay ~$3,750 in taxes (on the $15,000 gain) making the final grantable amount and taxable deduction $21,250.However, if Alex were to donate their long-term-held Ether using Endaoment, they'd pay $0 in taxes and their grantable amount and taxable deduction would be $25,000.
A Donor-Advised Fund (DAF) is a charitable account for making grants to nonprofit recipients.
You add funds to a DAF by irrevocably donating securities or property, without having to sell the donation for cash first. We take care of selling your contribution after you've donated.
As a result, DAFs are unique in that they let you donate property in its original form.
A Direct Donation is a gift made from your connected wallet on the organization‘s Endaoment profile. Direct Donations function just like donations made elsewhere on the Endaoment app, you select the asset and amount, and we send you a tax receipt if requested. Direct Donations do however bypass the need to create and fund a DAF, allowing users to send their assets to an organization of their choice in a single transaction. Please note that all directly donated gifts are unrestricted - if you'd like to place a restriction of the use of your gift by the receiving nonprofit, you will need to open a DAF and recommend a grant from there.
There is no minimum donation into any DAF, Community Fund, or made directly! Any grant made from a Fund also has no minimum amount.
We've got you covered. All grant recipients receive their awarded funds as US dollars via bank wire or as USDC via Ethereum wallet transfer - their choice.
Endaoment DAFs use Uniswap to liquidate donations. We accept all ERC-20s and most non Ethereum tokens as well. For tokens on Ethereum, we interact with a Uniswap exchange contract in order to process donations as USDC.
If you are donating to a Community Fund or directly to an org, yes! You may choose to give anonymously, only if you choose not to receive a tax receipt. (Issuing one requires we collect personal identifiable information about you, see below.)
In order to create an Endaoment Donor-Advised Fund or receive a tax receipt for any donation, you'll need to provide us with your name, email address, and mailing address.
No. Gifts to DAFs are irrevocable and become the property of Endaoment upon donation. This is an IRS requirement on how DAFs must operate and is only subject to change based on IRS guidance.
Endaoment does not offer tax advice. You should speak with a CPA or attorney to address your questions related to your tax burden.
Once you make a donation to Endaoment using one of the cryptocurrencies we accept, we will programmatically exchange those tokens for USDC in order for your assets to maintain a consistent value regardless of your granting timeline.
Yes. You can deploy philanthropic capitol into any board-approved investment portfolios for a nominal fee. We programmatically exchange USDC for the asset in the portfolio (or vice-versa on portfolio exit) to allow funds exposure to specific assets. All portfolios positions are charged a nominal 0.25% entry fee and 0.25% quarterly fee. There is no exit fee when moving funds from a portolio position back into a fund.
Endaoment charges extra low fees, 0.5% on donations, and 1.0% on outbound on grants, with no annual or recurring fees. 1.5% - that‘s it, once! We're also generously funded by donors like you! As noted above, there are additional fees associated with portfolio positions, but such investments are completely optional.
If a Fund shows no activity (grants or contributions) for one year or more, Endaoment will attempt to contact the Primary Advisor(s), other Fund Advisor(s), and/or any Interested Parties. If the Fund remains inactive for another year after this notification, and the Fund is inactive for a total of two years, the Fund may be closed and the Fund assets may be distributed according to our Fund Agreement.