Tax Matters

Tax deductibility can be complicated. We try to keep it simple: all your tax-deductible contributions, on one tax receipt, with no tax implications thereafter.

Tax advantages of using Charityvest

While we seek to be as helpful as possible, Charityvest does not provide tax advice. Accurately establishing and reporting charitable contributions to IRS is the taxpayer's responsibility. We encourage you to seek professional tax counsel with regard to this complex subject.

From a tax and financial planning perspective, there's a lot to like about Charityvest:

  • Unified tax receipt One tax receipt every January, showing every charitable contribution

  • Immediate income tax deduction Contributions are immediately tax-deductible

  • No capital gains taxes on asset gifts Larger income tax deduction + more money for charitable giving

  • Tax-free appreciation No taxes on investment growth in your Charityvest balance

  • No estate taxes Your Charityvest DAF is not considered part of your estate

Your donations are made to Charityvest, Inc., a Georgia Nonprofit Corporation recognized by the IRS as a tax-deductible public charity under Internal Revenue Code §501(c)(3), EIN 81-2771871.

Unified tax receipt

We send you a single tax receipt each January summarizing your prior year's giving. If you donate stock or cryptocurrency, we also provide you with a pre-filled IRS Form 8283 to substantiate those gifts. To retrieve your annual tax statement:

  • Log in to your Charityvest account Dashboard.

  • Click on your name in the top right-hand corner.

  • Click Statements in the drop-down menu. You will be redirected to the account tab that includes links to all your available tax statements. Click to view your statement in a new window, where you can download to your computer.

Missing your tax statement for this year? Charityvest publishes your annual tax statement well in advance of U.S. tax filing deadlines, generally by the end of January of the following year.

Here is an example of what your tax statement PDF will look like:

Immediate income tax deduction

When you make a contribution to your donor-advised fund at Charityvest, you are making an irrevocable charitable gift to Charityvest, Inc., which provides you with the privilege to advise how your gift is used. Because of the irrevocable legal nature of your gift, Charityvest provides you with a receipt showing that you made a charitable contribution (only the person making the donation is eligible for a tax deduction).

To prevent accidental double-dipping, only contributions are tax-deductible. You aren't eligible for additional deductions when you make a grant to a charity, or if you transfer funds from an existing donor-advised fund or private foundation to Charityvest: you already received a charitable contribution receipt when you made the initial gift.

U.S. taxpayers generally qualify for deductions on their contributions to Charityvest, subject to limits:

  • for cash gifts, up to 60% of Adjusted Gross Income per year

  • for long-term appreciated assets, up to 30% of Adjusted Gross Income per year

  • for other non-cash assets, the AGI limits can vary

Any excess above these limits can be rolled over for up to five years. The ability to benefit from a charitable contribution depends, in part, on whether the donor itemizes tax deductions or claims the standard deduction.

Transferring your DAF to Charityvest?

DAF transfers are not new charitable contributions, and are therefore not considered tax-deductible. When we process your DAF transfer, we will automatically mark it as not tax-deductible and it will not appear on your year-end tax statement. Learn more about DAF Transfers at Charityvest.

Have you received a tax statement from a charity for a gift you made via Charityvest?

Not all charities are familiar with tax receipting in relation to DAFs, which can mean that you may receive a tax receipt from a charity if you included your contact details on your Charityvest grant recommendation.

Any gift made via Charityvest was marked as tax-deductible at the time of your initial contribution. If you do receive a tax receipt from a charity in error, you may inform them of your relationship with Charityvest to avoid future duplication. You can always reach us in our chat or at with questions.

No capital gains taxes + tax-free balance growth + no estate taxes

When you gift long-term appreciated assets such as stock and cryptocurrency to Charityvest, you receive an acknowledgment of the full fair market value of your gift. And because Charityvest is tax-exempt, we incur no capital gains tax on the sale of the asset, retaining the full value for charitable purposes.

And, if you choose to invest your Charityvest balance, all market growth and dividends occur tax-free inside of your Charityvest account.

Finally, because your account is owned and maintained by Charityvest, Inc., it is not considered a part of your estate and is therefore not subject to estate taxes.

How we acknowledge your stock, ETF, and crypto donations

Establishing the value of gifts for tax purposes is ultimately the donor’s responsibility. We encourage you to seek tax counsel for the purpose of such valuation.

In general, a charitable contribution’s value is based on the type of asset donated and the date of contribution, which ordinarily is the date when the asset is transferred to Charityvest and unconditionally removed from the donor’s control. Gift value for the donor’s tax purposes is determined on the date of the gift, and is not related to the value the charity receives upon selling the property.

For publicly traded securities, the value we report is the average of the high and low quotation on the date the gift is received by Charityvest. This value may not be accurate for your tax situation (e.g., if the shares were not long-term basis).

For cryptocurrency, the value we report is the mid-market price reported by Coinbase at the time Coinbase recognizes the transaction on the blockchain, based on their internal policies for minimum confirmations per asset. While we anticipate that the IRS is likely to clarify rules around cryptocurrency donations soon, donors are still required to obtain such an appraisal related to gifts of cryptocurrency in excess of $5,000.

We provide three acknowledgment items for gifts of stock, plus a fourth for cryptocurrency:

  • E-mail acknowledgment. When we receive your gift and post it to your Charityvest account, you will receive an email containing the details of your gift.

  • Unified annual statement. The details of your gift will be included on your annual statement, sent each January.

  • Form 8283. Form 8283 is an IRS tax form used to substantiate non-cash charitable contributions, like stock and cryptocurrency. Individuals, partnerships, and corporations use IRS Form 8283 to report information to the IRS about noncash charitable contributions when the amount of their contribution for all noncash gifts is more than $500. For donors whose previous year noncash charitable contributions exceed $500, we provide a blank IRS Form 8283 as a courtesy to our donors, along with the necessary information to complete the Form, excluding cost basis information, which is not furnished to us at the time of transfer. Cost basis information can be obtained by logging into your brokerage account and reviewing positions and holdings activity.

  • Form 8282. For cryptocurrency donors only. Form 8282 (Donee Information Return) provides details regarding the disposition (i.e., sale) of your cryptocurrency asset following your gift. We furnish Form 8282 to both the donor, and to IRS.

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