Bitcoin Development Fund Obtains Public Benefit Organization Status in United States

Brink has just announced that the fund now has 501 (c) (3) organizational status in the United States, which will provide US donors with tax relief.

“We started Brink with a simple idea: to strengthen Bitcoin by supporting developers. Our ability to raise funds to fund our grant and scholarship programs is critical to this mission.

Making the organization as tax efficient as possible ensures that donor funds are used to the maximum for the benefit of the mission, and also encourages potential donors who would not otherwise support us. In the United States, 501 (c) (3) status is an IRS designation for charitable organizations that allows taxpayers to donate to the organization and receive a deduction from federal income tax. In addition, donations of assets that appreciate long-term such as Bitcoin generally do not result in capital gains tax and may give rise to a tax deduction for their full market value […].

We are delighted to announce that we received confirmation this week that the 501 (c) (3) status has been approved. Donations to Brink are therefore tax deductible under section 170 IRC, including donations already made […].

Brink is looking for developers from all walks of life and is recruiting based on previous open source contributions (code review, technical writing, etc.). To apply, please complete this scholarship application form.

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