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Elpida Social Capital

Consultation on Tax Implications of Anonymous Wealth Transfer Platform

Summary:

Provide a tax consultation to a financial education startup dedicated to closing the racial wealth gap.

Referred by:

Jurisdiction(s): U.S. (headquartered in VA)
About the Organization: Elpida Social Capital (“Elpida”) is a financial education firm dedicated to closing the racial wealth gap by using financial and social capital to invest in historically marginalized communities.
Legal Entity Type: For-profit
SDG(s): End Poverty, Good Health and Well Being, Reduced Inequalities
Legal Issue(s):

Last year, the team at Elpida launched the Black Student Debt Freedom (BSDF) fund in an effort to crowdfund and pay off black students’ education loans. They are now in the process of transitioning the BSDF fund into an anonymous wealth transfer platform called Jubilant Circle, which aims to close the racial wealth gap by paying off student loans, facilitating asset transfers, and offering culturally appropriate financial coaching. The Elpida team is seeking a consultation to discuss a few discrete questions about the tax implications of running Jubilant Circle.