Cryptocurrency
Community Foundation Tampa Bay: The Rise of Cryptocurrency in Charitable Giving
2024-11-27
Nicolette Rea, as the Director of Donor Relations and Associate Counsel at Community Foundation Tampa Bay, is deeply involved in fund agreements, IRS compliance, and donor stewardship. In her nearly five years with the foundation, she has witnessed a significant shift in charitable giving - the increasing popularity of cryptocurrency.

Unlock the Potential of Cryptocurrency in Philanthropy

Fund Agreements and IRS Compliance

Rea's role at the foundation encompasses working on fund agreements and ensuring IRS compliance. This meticulous work lays the foundation for the smooth operation of the charitable giving processes. It ensures that every aspect is in order, allowing the foundation to focus on maximizing the impact of donations. By handling these crucial aspects, Rea plays a vital role in maintaining the integrity of the charitable ecosystem. 2: The attention to detail in fund agreements and IRS compliance is not just about following regulations. It is about creating a transparent and trustworthy environment for both donors and recipients. It gives donors confidence that their contributions are being used effectively and in accordance with the law. This, in turn, encourages more people to get involved in charitable giving, knowing that their donations are being handled with the utmost care.

The Rise of Cryptocurrency Donations

Rea recalls a time when cryptocurrency donations were relatively rare. However, a May 2024 SEC decision opened up new possibilities. Since then, donor interest in crypto contributions has surged. It went from being an uncommon option to a more common asset in donors' portfolios. 2: This shift is not without its reasons. Cryptocurrency offers unique advantages, such as being a non-cash asset. It allows donors to make larger gifts directly to the charity, avoiding capital gains tax. As Rea explains, "If a donor is tax savvy and really wants to be tax advantageous with their giving, cryptocurrency is a great option." This has attracted many donors who are looking for ways to maximize the impact of their giving.

Impact of Non-Cash Assets & Donor Advised Funds

Most of the foundation's cryptocurrency donations have gone into donor-advised funds. These funds act as a charitable checking account, where donors can give gifts and have them grow tax-free. It provides a convenient way for donors to contribute and have the funds readily available for immediate charitable giving. 2: The impact of these funds is significant. They have helped small grassroots nonprofits like the one in St. Pete. After being connected with donors through the foundation, they have received substantial philanthropic support. Rea shares an example where a nonprofit faced a food supply shortage, but with the help of donor-advised funds, their needs were met. This shows how these funds can make a real difference in the community.

The Future of Cryptocurrency in Charity

Looking to the future, Rea hopes that cryptocurrency will become even more common in charitable donations. She encourages philanthropists to discuss it with their tax advisors. The data shows that a significant amount has already been donated via crypto, and more charities are starting to accept it. 2: While it may not be the definite future of charitable giving, it is definitely worth considering. Cryptocurrency offers a new avenue for donors to make a difference. As more people become aware of its potential, it has the potential to transform the way we give to charity. Community Foundation Tampa Bay is at the forefront of this movement, helping donors navigate the world of cryptocurrency and make the most of their giving.
Revitalize Your Cooking with Mueller's Advanced Pro-Series Chopper
2024-11-27

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Depression: What we need to know about mental health issues
2024-11-27

Depression is a common but serious mental health disorder that affects hundreds of millions of people worldwide. It is not just an emotional problem, but can have a profound impact on everything from physical health to work ability to interpersonal relationships. Understanding the symptoms, causes, and treatments of depression is an important step in helping yourself and others.

What is depression?

Depression is not simply a "bad mood" or a "brief low", but a persistent disease.

Core features:

·Significantly depressed mood or loss of interest and pleasure in daily activities that lasts for more than two weeks.

·In severe cases, it may affect an individual's thinking, behavior and physical functions.

What are the symptoms of depression?

▸Symptoms of depression vary slightly depending on the type, ranging from mild to severe. Generally, symptoms include:

▸Feeling very sad, hopeless, or worried. Children and teens with depression may appear irritable rather than sad.

▸Stop enjoying the things that once brought you joy.

▸Easily irritable or depressed.

▸Eating too much or too little may lead to weight gain or weight loss.

▸Trouble sleeping (insomnia) or sleeping too much (narcolepsy).

▸Lack of energy or fatigue.

▸Trouble concentrating, making decisions, or remembering things.

▸Experience physical problems such as headache, stomachache, or sexual dysfunction.

▸Having thoughts of self-harm or suicide.


Do I or someone in my family suffer from depression?

▸PHQ-9 Depression Screening Tool

Over the past two weeks,how often have you been bothered by any of the

following problems?

·0 points: Not at all

·1 point: how many days

·2 points: more than half the days

·3 points: almost every day


1. Lack of interest or pleasure in doing things

A.Not at all

B.How many days

C.More than half the days

D.Almost every day

2. Feeling down, depressed or hopeless

A.Not at all

B.How many days

C.More than half the days

D.Almost every day

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3. Difficulty falling asleep, staying asleep, or sleeping too much

A.Not at all

B.How many days

C.More than half the days

D.Almost every day

4. Feeling tired or lacking energy

A.Not at all

B.How many days

C.More than half the days

D.Almost every day

5. Loss of appetite or overeating

A.Not at all

B.How many days

C.More than half the days

D.Almost every day

6. Feeling bad about yourself—or feeling like a failure or letting yourself or your family down.

A.Not at all

B.How many days

C.More than half the days

D.Almost every day

7. Difficulty concentrating, such as reading a newspaper or watching TV

A.Not at all

B.How many days

C.More than half the days

D.Almost every day

8. If you move or speak too slowly, will others notice? Or the opposite - fidgeting and moving around more than usual

A.Not at all

B.How many days

C.More than half the days

D.Almost every day

9. Thinking it would be better to die or to harm yourself in some way

A.Not at all

B.How many days

C.More than half the days

D.Almost every day

Test results:

1 to 4 = mild depression

5 to 9 = mild depression

10 to 14 points = moderate depression

15 to 19 points = moderate to severe depression

Score 20 to 27 = severe depression.

Can depression be cured?

Depression can be treated, and common methods include:

1. Drug treatment

Commonly used antidepressants include selective serotonin reuptake inhibitors (SSRIs) and tricyclic antidepressants (TCAs). Medications should be prescribed by a doctor and the dosage should be adjusted according to individual circumstances.

2. Psychotherapy

Cognitive behavioral therapy (CBT): Helps patients change negative thinking patterns.

Interpersonal Therapy (IPT): Improves patients’ interpersonal relationships and emotional expression.

3. Lifestyle adjustment

Exercise: Moderate exercise can help improve your mood.

Diet: A healthy diet supports brain function and reduces the risk of disease.

Keep a regular schedule: Maintain a sleep routine and avoid staying up late.

4. Treatment of severe cases

For patients with severe depression or those who are ineffective with medications, electroconvulsive therapy (ECT) or transcranial magnetic stimulation (TMS) may be considered.

Depression is not "frail" or "hypocritical," it is a real disease that requires scientific treatment and care. Whether you or the people around you are facing depression, you should be brave enough to seek help to make your life glow again.

If you or a loved one is experiencing depression, don’t hesitate to seek professional support. It’s a responsible choice for yourself and others.

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