Quincy University, a private Franciscan university in Illinois, has announced that it will now accept donations in cryptocurrencies such as Dogecoin ($DOGE) and its rival Shiba Inu ($SHIB), both of which are inspired by memes.
The university stated that as a 501(c)(3) organization, it will receive the total value of donations and that cryptocurrency donations are tax-deductible. On the other hand, tax-deductible donations cannot be anonymous because donors “must provide their name, address, and email for the gift to be tax-deductible.”
The university will accept 32 different crypto assets in total, including popular tokens such as BTC, ETH, and LTC and meme-inspired cryptocurrencies. Matt Bergman, the institution’s senior director of advancement, was quoted as saying:
Last year, cryptocurrency donations to Fidelity Charitable, the nation’s largest grantmaker, increased by over 1,000 percent. Donor-advised funds provided the organization with $331 million in crypto assets, up from $28 million in 2020.
The early DOGE community was well-known for taking on philanthropic projects. It made headlines in 2014 after raising more than $25,000 worth of DOGE to let the Jamaican bobsleigh team attend the Winter Olympics in Sochi.
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The university stated that as a 501(c)(3) organization, it will receive the total value of donations and that cryptocurrency donations are tax-deductible. On the other hand, tax-deductible donations cannot be anonymous because donors “must provide their name, address, and email for the gift to be tax-deductible.”
The university will accept 32 different crypto assets in total, including popular tokens such as BTC, ETH, and LTC and meme-inspired cryptocurrencies. Matt Bergman, the institution’s senior director of advancement, was quoted as saying:
The university noted in its announcement that 46 million Americans own cryptocurrency, accounting for roughly 22% of the adult population in the United States and that the first known cryptocurrency gift to higher education occurred in 2014 when a University of Puget Sound alum donated $10,000 in cryptocurrency to the school.
Last year, cryptocurrency donations to Fidelity Charitable, the nation’s largest grantmaker, increased by over 1,000 percent. Donor-advised funds provided the organization with $331 million in crypto assets, up from $28 million in 2020.
The early DOGE community was well-known for taking on philanthropic projects. It made headlines in 2014 after raising more than $25,000 worth of DOGE to let the Jamaican bobsleigh team attend the Winter Olympics in Sochi.
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