Son of a Saint Now Accepting Cryptocurrency Donations
NEW ORLEANS — Son of a Saint, the nonprofit organization dedicated to inspiring mentorship and transforming the lives of New Orleans’ fatherless boys, today announced the official launch of its cryptocurrency donation portal. The 501c3 organization, which celebrates its 10-year anniversary throughout 2021, will now actively be accepting Bitcoin, Bitcoin Cash, Ethereum and 4 USD-pegged stablecoins, all processed through the BitPay payment service provider. Being an early adopter in receiving cryptocurrencies will enable Son of a Saint to build new relationships with emerging crypto users.
“Entering the cryptocurrency space is another exciting example of how our bold future is actually happening right now,” says Son of a Saint Chief Operating and Financial Officer Ola Adegboye. “In an effort to provide the best resources to our young men, their families, and our surrounding communities, we knew it was time to expand our reach for generating and offering financial support. Since cryptocurrency donations are treated the same as real estate or stocks, they’re able to be converted immediately on the open market. This is particularly advantageous for a donor since they do not pay capital gains tax and can deduct the full amount,” he shares. “Launching our Son of a Saint cryptocurrency donation platform via BitPay is the right move at a critical time.”
Between 2017 and 2018, hundreds of millions of dollars in cryptocurrency were donated to nonprofits. From late 2020 to early 2021, cryptocurrency has experienced even more attention and increased popularity, with heightened opt-in activity from the larger general public.
For more information about the organization, including programming, enrichment activities, leadership profiles and opportunities to get involved, visit www.sonofasaint.org or call (504) 655-8416.