More Ways to Give
Now Accepting Cryptocurrency Donations
Sofia's Hope continues to adopt new technology to ensure donors can give back through a variety of ways, which now includes cryptocurrency. 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, at no additional cost to the donor. Donors can donate Bitcoin, Ethereum, USD Coin directly on Every.org.
Please contact crypto@every.org if donating with a different coin and the donation is valued at $5,000 or more. Donors will also receive a tax-deductible receipt from Every.org once the transaction is detected on the blockchain.
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