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What Not-for-Profits Should Know Before Accepting Digital Assets as Donations
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Although some of the hype around cryptocurrencies has leveled over the last year, it’s clear that digital assets are here to stay, and the not-for-profit industry should understand how this impacts them. In this episode of But Who’s Counting?, David E. Hartley discusses the possible future of crypto in not-for-profit organizations with Jeanne M. Dee, audit partner and leader of the Anders Not-for-Profit team, including the following highlights:
· The current accounting rules regarding crypto and digital assets in the not-for-profit industry
· Possibility for fair value accounting going forward and how that might affect organizations
· What to consider before accepting digital asset or cryptocurrency donations
· Why a well-thought-out gift acceptance policy is more important than ever
· Multiple strategies organizations can consider when accepting crypto donations
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