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    <p>The Lifeboat Foundation is still claiming to be a government-sanctioned charity despite it still being unclear exactly what it does with the donations it receives.</p>
    <p>The organization, which Protos covered all the way back in 2021, describes itself as a 501(c)3 charity but is best known in <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a> circles for its donors, which include a host of important <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a>currency advocates and founders such as Vitalik Buterin, Stuart Hoegner, JR Willett, and Charles Hoskinson.</p>
    <p>While it’s not immediately obvious where the foundation’s donations go, it claims to be working on numerous shields for Earth (Nano Shield, Black Hole Shield, Asteroid Shield) along with a seed preserver and so-called ‘space habitats.’ Any proof of development on these hasn’t been shared publicly.</p>
    <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://cdn.thebittimes.com/images/2024/01/27/3e5a9d5def3061255ecd9ac7b84cb142.webp" alt class="wp-image-59264" srcset="https://cdn.thebittimes.com/images/2024/01/27/3e5a9d5def3061255ecd9ac7b84cb142.webp 1024w, https://cdn.thebittimes.com/images/2024/01/27/3e5a9d5def3061255ecd9ac7b84cb142.webp 300w, https://cdn.thebittimes.com/images/2024/01/27/3e5a9d5def3061255ecd9ac7b84cb142.webp 768w, https://cdn.thebittimes.com/images/2024/01/27/3e5a9d5def3061255ecd9ac7b84cb142.webp 1536w, https://cdn.thebittimes.com/images/2024/01/27/3e5a9d5def3061255ecd9ac7b84cb142.webp 1200w, https://cdn.thebittimes.com/images/2024/01/27/3e5a9d5def3061255ecd9ac7b84cb142.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
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      The foundation claims to be working on numerous shields for Earth.
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    <h2 class="wp-block-heading" id="h-revocation-and-lies">Revocation and lies</h2>
    <p>Since 2020, the Lifeboat Foundation has been on the IRS auto-revocation list, meaning that it hasn’t filed the necessary documents with the IRS to ensure it can retain its tax-deductible status for donors. <strong>The last time any paperwork was filed by the entity was in 2016</strong>.</p>
    <figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="576" src="https://cdn.thebittimes.com/images/2024/01/27/e5556aabb1947ac5a5e2a2f7a9651bc0.webp" alt class="wp-image-59263" srcset="https://cdn.thebittimes.com/images/2024/01/27/e5556aabb1947ac5a5e2a2f7a9651bc0.webp 1024w, https://cdn.thebittimes.com/images/2024/01/27/e5556aabb1947ac5a5e2a2f7a9651bc0.webp 300w, https://cdn.thebittimes.com/images/2024/01/27/e5556aabb1947ac5a5e2a2f7a9651bc0.webp 768w, https://cdn.thebittimes.com/images/2024/01/27/e5556aabb1947ac5a5e2a2f7a9651bc0.webp 1536w, https://cdn.thebittimes.com/images/2024/01/27/e5556aabb1947ac5a5e2a2f7a9651bc0.webp 1200w, https://cdn.thebittimes.com/images/2024/01/27/e5556aabb1947ac5a5e2a2f7a9651bc0.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
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      The foundation hasn’t filed the correct documents to ensure it can retain its tax-deductible status.
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    <p><em>Read more: What happened to the <a rel="noopener noreferrer nofollow" title="Lifeboat Foundation" href="https://thebittimes.com/tag/lifeboat-foundation.html">Lifeboat Foundation</a>’s Bitcoin Endowment Fund?</em></p>
    <p>Despite this, the foundation states on its <a rel="noopener noreferrer nofollow" title="donation" href="https://thebittimes.com/tag/donation.html">donation</a> page that “All membership fees and other gifts are tax-deductible to the fullest extent of the law.”</p>
    <p>The <a rel="noopener noreferrer nofollow" title="Lifeboat Foundation" href="https://thebittimes.com/tag/lifeboat-foundation.html">Lifeboat Foundation</a> still claims to have a bitcoin endowment fund, however, <strong>no one knows what happened to the millions of dollars in bitcoin</strong> and hundreds of thousands in other coins that were donated to the foundation. The <a rel="noopener noreferrer nofollow" title="Crypto" href="https://thebittimes.com/tag/crypto.html">Crypto</a>currency wallet addresses currently listed have nearly nothing in them.</p>
    <p>There has been an increase in high-profile charity frauds since the COVID-19 pandemic, with the IRS warning donors about fake charities. If you’re thinking of donating to a charity but aren’t sure of the veracity of its claims or if it is a 501(c)3 please use the IRS’ tax-exempt organization search tool.</p>
    <p><em>Got a tip? Send us an email or ProtonMail. For more informed news, follow us on&nbsp;X,&nbsp;</em><em>Instagram</em><em>,&nbsp;</em><em>Bluesky</em><em>, and&nbsp;</em><em>Google News</em><em>, or subscribe to our&nbsp;</em><em>YouTube</em><em>&nbsp;channel.</em></p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/lifeboat-foundation-can-t-explain-where-its-crypto-donations-go-tbt77901.html">https://thebittimes.com/lifeboat-foundation-can-t-explain-where-its-crypto-donations-go-tbt77901.html</a></p>

Lifeboat Foundation can’t explain where its crypto donations go

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