Gift Acceptance Policy

Article 1: Introduction and Purpose

1.1 Introduction

The Bitcoin District Initiative (hereinafter “the Corporation”) is a nonprofit dedicated to advancing public understanding of Bitcoin and freedom technology through education, community engagement, and privacy-preserving tools. We rely on the generosity of donors to support our mission of empowering individuals and communities in Washington, DC, and beyond. This Gift Acceptance Policy outlines the types of gifts the Corporation will accept and the procedures for accepting them, ensuring alignment with our mission, values, and legal obligations as a 501(c)(3) organization.

1.2 Purpose

This policy provides guidelines for accepting gifts to ensure they support the Corporation’s charitable and educational purposes, comply with IRS regulations and DC nonprofit laws, including the DC Nonprofit Corporation Act (D.C. Code § 29-401 et seq.), and do not create conflicts of interest or undue administrative burdens.

Article 2: Types of Gifts

2.1 Gifts Accepted

The Corporation accepts the following types of gifts:

1. Cash and Cash Equivalents: Includes checks, money orders, and electronic fund transfers.
2. Bitcoin: The Corporation accepts donations of Bitcoin, which will be held in our treasury and used only in accordance with our bylaws and treasury policy.
3. Hardware Donations: The Corporation accepts donations of Bitcoin-related hardware, such as signing devices and nodes provided they are in good working condition and align with our mission. The Board of Directors reserves the right to approve or decline such gifts based on their relevance and utility to the Corporation’s educational and community-building efforts.

2.2 Gifts Not Accepted

The Corporation does not accept the following types of gifts:

1. Other Digital Assets: The Corporation will not accept any digital assets other than Bitcoin or USD equivalent.
2. Real Estate: Due to complexity and potential liabilities.
3. Personal Property: Such as artwork, jewelry, or vehicles, unless specifically approved by the Board of Directors.

Article 3: Gift Acceptance Procedures

3.1 Review and Approval

All gifts must be reviewed and approved by the President or a designated representative. Gifts that do not align with the Corporation’s mission, pose a conflict of interest, or create significant administrative burden will be declined.

3.2 Documentation

Donors must provide appropriate documentation, including appraisals for non-cash gifts where required by law.

3.3 Acknowledgment

The Corporation will provide donors with a written acknowledgment of their gift for tax purposes, per IRS requirements.

Article 4: Donor Recognition

The Corporation appreciates its donors and may recognize them through:

1. Public Acknowledgment: Listing donors in our annual report, website, or other publications, unless anonymity is requested.
2. Special Events: Inviting donors to events or programs as a thank-you.

Article 5: Conflict of Interest

The Corporation avoids conflicts of interest in gift acceptance:

1. Board Members and Staff: Must disclose any potential conflicts related to a gift.
2. Gift Restrictions: Gifts with restrictions conflicting with the Corporation’s mission or values will not be accepted.
   Note: For detailed procedures on handling conflicts of interest, refer to the Corporation’s Conflict of Interest Policy.

Article 6: Bitcoin Donations

The Corporation accepts Bitcoin donations to further its mission. Specific guidelines include:

1. Acceptance: The Corporation will only accept Bitcoin and will not accept any other digital assets.
2. Holding and Use: Bitcoin donations will be added to the Corporation’s treasury and held until the Board of Directors determines how to spend them in support of our mission, as outlined in our bylaws and treasury policy.

Article 7: Restricted Gifts

The Corporation may accept gifts with donor-imposed restrictions if:

1. The restrictions align with the Corporation’s mission and charitable purposes.
2. They do not create undue administrative or financial burdens.
3. The Board of Directors approves acceptance.

Article 8: Gift Valuation and Reporting

8.1 Valuation

Non-cash gifts will be valued based on donor appraisals or other methods compliant with IRS rules.

8.2 Reporting

The Corporation will maintain accurate gift records and report them per IRS regulations and accounting standards.

Article 9: Review and Amendment

This policy will be reviewed annually by the Board of Directors and amended as needed to reflect the Corporation’s evolving needs or legal requirements.

Article 10: Conclusion

The Corporation is grateful for donor support and committed to using gifts to advance our mission. This policy ensures gifts are accepted and managed responsibly, supporting our goal of building a Bitcoin-educated community in Washington, DC.