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We're proud to announce we can now accept cryptocurrency donations, including Bitcoin, USD Coin, and Ethereum!
We are now accepting cryptocurrency donations via Every.org. Cryptocurrencies including Bitcoin, USD Coin, and Ethereum.
With the addition of the first Bitcoin ETF and integration of crypto into everyday payments platforms such as PayPal and Venmo, cryptocurrency is becoming more and more integrated into people’s lives.
Similar to donating equities or other appreciating assets, there can be significant tax advantages to donating cryptocurrency directly. Since the IRS classifies donated cryptocurrency as property, donating it is not a taxable event. This means donors do not have to recognize capital gains on donations of appreciated crypto. If they held it for over a year, they may even be able to deduct the fair market value on their taxes.
The crypto donations are supported through Every.org, which takes cryptocurrency and converts it into fiat currency, this comes at no additional cost to the donor. Donors can donate Bitcoin, Ethereum, USD Coin, and more directly on Every.org. Donors will also receive a tax-deductible receipt from Every.org once the transaction is detected on the blockchain.
Rahul Gupta-Iwasaki, co-founder of Every.org added, “It’s easier than ever for your nonprofit to benefit from accepting cryptocurrency using Every.org. Donors should speak to their tax advisor on the benefits to make sure they can maximize their giving.”