Perkiomen School recognizes the importance cryptocurrency plays in today’s economy and in the lives of our alumni, parents and friends. Donors may find it beneficial to make contributions of cryptocurrency and should consult their tax adviser regarding how donations of cryptocurrency and other highly appreciated assets may fit into their tax strategy.
For more information, contact Karl Welsh, Director of Development, at (215) 541-5048.
Frequently Asked Questions
Why Donate In Cryptocurrency?
For donors in the United States, the IRS has classified cryptocurrency as a form of property for tax purposes. This means that when you donate Bitcoin or other cryptocurrencies to a 501(c)(3) nonprofit, you may not be required to pay capital gains tax on donated cryptocurrency and you may still be able to claim a deduction for your gift. Please consult your tax adviser for more information.
How do I donate cryptocurrency to Perkiomen?
Donating cryptocurrency is easy. Click the link above, log into your Coinbase account, and make your donation to Perkiomen School.
How do I designate my gift?
Once you complete your gift, click here and enter subject line “Crypto Donation Info” to tell us how to direct your gift. Your gift can benefit any initiative within the Perkiomen Fund or Our Moment to Lead Campaign. We will contact you if there are questions or to confirm your intentions.
Will I get a receipt with my donation?
You will receive a receipt for your donation via email from Every.org. You must enter your email when prompted on the giving form in order to receive a receipt.
How does Perkiomen School receive my donation?
Your donation is made to Every.org, a tax-exempt US 501(c)(3) charity that grants unrestricted funds to Perkiomen School on your behalf. Besides a 1% processing fee, Perkiomen School will receive your intended donation amount.
Is my cryptocurrency donation tax-deductible?
100% of your donation is tax-deductible to the extent allowed by US law. In the US, the IRS classifies cryptocurrencies as property, so cryptocurrency donations to 501(c)(3) organizations receive similar treatment as other appreciated assets. Donating cryptocurrency is a non-taxable event, meaning you do not owe capital gains tax on the appreciated amount and can deduct it on your taxes. Please contact your tax or financial adviser for more information.
Which cryptocurrencies do you accept?
Through our cryptocurrency fundraising initiative with every.org, we can accept multiple cryptocurrencies: Bitcoin, Ethereum, and USD Coin. Please note there is a flat 1% fee through Coinbase Managed Commerce.
To give any of the hundreds of cryptocurrencies listed on major US exchanges, for more details click here.