AfricAid Announces Capability to Accept Cryptocurrencies Donations
Today, AfricAid, a 501(c)3 organization whose mission is to improve the standing of women in society through robust, locally-led mentorship initiatives that cultivate confidence, improve academic and health outcomes, and promote socially-responsible leadership skills, is excited to announce that it has started accepting donations in the following cryptocurrencies:
Bitcoin Cash (BCH)
Gemini Dollar (GUSD)
Basic Attention Token (BAT)
By accepting cryptocurrencies, AfricAid is offering supporters with cryptocurrency portfolios the ability to support the organization in a tax efficient way. The IRS classifies cryptocurrency donations as property, meaning they are not subject to capital gains tax and are tax deductible on the donor’s tax returns.
“We are grateful to have a generous, committed group of supporters who help us raise critical funds that support mentoring programs for girls in Tanzania,” said AfricAid Executive Director, Jessica Love. “We accept checks and online donations, we encourage our community to create their own peer-to-peer fundraising campaigns, and many of our donors are holding fundraisers on their social media platforms.
“By accepting cryptocurrencies as a donation method, we hope to continue to make it easy for people to give in support of the girls’ education and empowerment programming we support. After all, there is no better investment than in a girl, her education, and her future.”
AfricAid will be working with The Giving Block, leaders in equipping nonprofits with the tools and techniques to effectively fundraise with cryptocurrency.