GiveCampus Will Support Cryptocurrency Donations to Schools
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GiveCampus is the world’s leading digital fundraising and volunteer management platform for nonprofit educational institutions. As of April 2021, the platform will accept cryptocurrency donations for nearly 1,000 schools.
GiveCampus is the only fundraising platform providing Venmo and PayPal integration for educational donors. Within integrating to the Giving Block, the platform also becomes the only platform that accepts cryptocurrency donations for schools. Tax benefits of cryptocurrency donations may play an important role in using this donation method for major donor institutions or individuals.
The Giving Block is the leading cryptocurrency solution used by nonprofit organizations. Many NGOs, including United Way, American Cancer Society, Save The Children, and Team Rubicon, prefer the Giving Block. Within this partnership, GiveCampus will be the exclusive partner of the Giving Block that provides the Giving Block’s cryptocurrency donation technology to educational institutions such as colleges, universities, and K-12 schools.
Kestrel Linder, CEO, and Co-Founder of GiveCampus, stated that they are excited to make cryptocurrency donations possible for educational institutions for the first time. When considering the $2 trillion of wealth held in Bitcoin and other cryptocurrencies, people having that wealth may be eager to give some of their wealth back to society through donations for education. He also stated that schools would meet these enthusiastic donors by accepting cryptocurrency donations.
Pat Duffy, Co-Founder at The Giving Block, said that Cryptocurrency is the best performing asset class of the last decade. More users than every U.S. brokerage combined Crypto-enabled schools will have a vital fundraising advantage over other schools.
Significant tax benefits may be claimed for donors through donating cryptocurrencies. The IRS considers Cryptocurrency to be property for Federal income tax purposes. This means that donors receive a tax deduction equal to the value of donated Cryptocurrency. In addition, the gains on cryptocurrencies are not subject to capital gains taxes. In this way, the schools may receive donations in more significant amounts thanks to fewer taxes.
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