Palm Beach Habilitation Center Announces Capability to Accept Cryptocurrencies on #BitcoinTuesday
Palm Beach Habilitation Center Becomes The First Non-Profit Serving Individuals with Developmental Disabilities To Accept Cryptocurrency Donations
Today, Palm Beach Habilitation Center is excited to announce our new capability to accept cryptocurrency donations in partnership with The Giving Block.
Starting today, we will begin accepting donations in the following cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Zcash (ZEC)
- Gemini Dollar (GUSD)
Before you sell bitcoin and donate the after-tax proceeds, consider donating your cryptocurrency directly to Palm Beach Habilitation Center, PBHC. In the US, This model includes two significant benefits, both for you and PBHC, your favorite charity.
- Your tax deduction will be equal to the fair market value of the donated cryptocurrency bitcoin.
- Your gift to charity will be larger because you do not need to pay capital gains tax and instead of paying capital gains taxes, the 501(c)(3) charity will receive the full value of your contribution.
Please consult with a tax professional for specifics around how cryptocurrency donations are handled in your country.
You can find our cryptocurrency donation page at https://pbhab.com/cryptocurrency-donation/
We are always looking for new ways to make donations more convenient and tax-efficient for our supporters. We are excited to begin working with the cryptocurrency community to elevate our impact and broaden our horizons.
To kick start our initiative, we will be participating in the first-ever Bitcoin Tuesday on December 3rd. This is the first step in learning more about how emerging technologies like cryptocurrencies can help us do more for those with disabilities.
Why Accept Crypto Directly?
With cryptocurrency, donors are able to donate their cryptocurrency directly to us and save on their taxes. Because the IRS classifies cryptocurrency as property, this means that donors do not have to pay capital gains tax and can write it off on their taxes when donating to a 501c3 nonprofit like us. This is very similar to how stock donations work. This is a great way to offset some of your cryptocurrency gains. Please consult a tax professional for specific laws in your jurisdiction.
Giving Tuesday is the biggest worldwide day of giving and is held on the Tuesday after the United States’ Thanksgiving. This year it will take place on December 3, 2019. Bitcoin Tuesday is Giving Tuesday for cryptocurrencies. Similar to Giving Tuesday, during which donations are traditionally gifted in fiat, Bitcoin Tuesday pairs the viral nature of Giving Tuesday with Bitcoin’s online star power to drive crypto donations for nonprofits accepting them.
About Palm Beach Habilitation Center
Since 1959, the Palm Beach Habilitation Center has provided a wide variety of services to people who have mental, physical, and emotional disabilities.
Our MISSION is to ensure that individuals with disabilities in Palm Beach County have the best environment in which to learn, work, and live.
To accomplish this, we provide:
- Vocational training
- Employment and community job placement
- Recreational and senior activities
- Residential services
- Life skills training
Our VISION is a community where individuals with disabilities can realize their full potential. “We Turn Disabilities Into Possibilities”
Chief Executive Officer
Palm Beach Habilitation Center
4522 South Congress Avenue
Palm Springs, FL 33461
T 561-965-8500 F 561-433-2073
About The Giving Block
The Giving Block equips nonprofits to fundraise cryptocurrencies like Bitcoin, providing education, training and a technical solution. For nonprofits who choose to go the extra mile, they advise on crypto fundraising strategies, and/or pair nonprofits up with partner crypto organizations, elevating fundraising and awareness outcomes. Ultimately, they help nonprofits build a cryptocurrency fundraising program, and a brand in the cryptocurrency industry.