Home / Events / Nonprofits and Cryptocurrencies – The Latest Accounting and Tax Landscape

1.0 CPE credit is available for this webinar.

As cryptocurrency grants and contributions to nonprofits continue to increase, nonprofit finance, accounting and fundraising professionals are increasingly seeking guidance on the receipt of cryptocurrency, the options for converting to cash, and the associated accounting and tax implications. Without the appropriate guidance, nonprofits will miss out on opportunities for increased revenue from crypto donors, incorrectly account for transactions, and erroneously advise their donors on the correct tax treatment of their donations. This will in turn have consequences for the annual audit and the accurate completion of IRS forms.

In December 2022, the FASB Board, in response to overwhelming feedback and demand, published its initial guidance relating to the accounting and disclosure requirements of crypto assets. Then in January 2023, the IRS released a Chief Counsel Memorandum on the determination of how taxpayers must substantiate the value of cryptocurrency donations over $5,000 for purposes of the charitable contribution deduction.

To help your organization develop its cryptocurrency acceptance policies and procedures, please join Omid Mohebbi, CPA, and Katelyn Miller, CPA, MST, for a very timely update on the current landscape of nonprofits and crypto assets.

Key Takeaways:

• The latest statistics on the volume of nonprofit crypto grants and contributions
• Nonprofit accounting and tax guidance on crypto assets, grants, and contributions
• The consequences of not getting it right
• Options available to nonprofits for converting crypto receipts to cash
• Challenges and implications for overall business strategy

Additional Program Details

• Learning Objective: To provide attendees with a timely update on the current landscape of nonprofits and crypto assets.
• Instructional Delivery Methods: Group Internet-based
• Recommended CPE: 1.0 CPE
• Recommended Fields of Study: Specialized Knowledge
• Prerequisites: None Required
• Advance Preparation: None
• Program Level: Basic
• Course Registration Requirements: None
• Refund Policy: No fee is required to participate in this session.
• Cancellation Policy: In the event that the presentation is cancelled or rescheduled, participants will be contacted immediately with details.
• Complaint Resolution Policy: GRF CPAs & Advisors is committed to our participants’ 100% satisfaction and will make every reasonable effort to resolve complaints as quickly as possible. Please contact kdavis@grfcpa.com with any concerns

GRF CPAs & Advisors is a CAE Approved Provider. This program meets the requirements for fulfilling the professional development requirements to earn or maintain the Certified Association Executive credential and may be applied for 1 (one) credit toward your CAE application or renewal professional development requirements. Every program that we offer which qualifies for CAE credit will clearly identify the number of CAE credits granted for full participation, and we will maintain records of your participation in accord with CAE policies. For more information about the CAE credential or Approved Provider program, please visit www.asaecenter.org/cae.