Now Accepting Bitcoin Donations!
Golden Gate Philharmonic is now accepting bitcoin donations. Click on the link below to make a secure bitcoin donation through our OpenNode account, including the option to pay with lightning!
If you have any questions, please contact us at email@example.com and we will do our best to answer them!
HOW DO YOU MAKE A BITCOIN DONATION?
Getting started: Bitcoin payment is distinct from other forms of payment in that you must send funds to a specific order address. You can generate an invoice with our bitcoin or lightning address by clicking the button above.
Donating: Once you proceed with the contribution, you will be presented with a bitcoin or lightning address and a 10-minute payment window. You can then use your bitcoin wallet to send funds to the address within the given time window. At this time, we do require your name and email address, however we will never share this information with others. If the anonymity of your donation is a concern, please contact us at firstname.lastname@example.org to discuss other options to confirm that your donation meets our standards of acceptance.
Finalizing the transaction: As soon as you are in receipt of the payment (within the allotted time), the transaction is complete and you will receive a confirmation email.
HOW DOES GGP HANDLE BITCOIN DONATIONS?
Our policy is to convert all bitcoin donations to USD through an instant exchange. While bitcoin is very exciting, we want to put your donations to work for our kids without the speculation or risk that is inherent.
CAN YOU DONATE TO GPP FROM OUTSIDE THE U.S.?
Bitcoin is a global payment network and anyone with a bitcoin digital wallet can donate bitcoin to GGP.
ARE U.S. DONORS ELIGIBLE FOR TAX DEDUCTIONS?
On October 10, 2019, the IRS published its first guidance in five years for calculating taxes owed on cryptocurrency holdings.
As part of the guidance, it states in its FAQ section, “If you donate virtual currency to a charitable organization described in Internal Revenue Code Section 170(c), you will not recognize income, gain, or loss from the donation,” and “Your charitable contribution deduction is generally equal to the fair market value of the virtual currency at the time of the donation if you have held the virtual currency for more than one year. If you have held the virtual currency for one year or less at the time of the donation, your deduction is the lesser of your basis in the virtual currency or the virtual currency’s fair market value at the time of the contribution.”
For more information from the IRS on charitable contribution deductions, see Publication 526, Charitable Contributions.
HOW DO YOU BUY BITCOIN?
Visit bitcoin.org for information on how to buy, sell, make purchases and donations with a bitcoin wallet.
All donations are final, however GGP reserves the right to refund donations at our discretion.