November 24, 2021 by Clarissa Ayala
Lone Star Legal Aid Accepting Crypto Donations in 2021 Giving Season
Houston, TX – Lone Star Legal Aid is accepting cryptocurrency donations through The Giving Block this Giving Season. The Giving Block allows people to donate cryptocurrency and nonprofits to receive it safely and relatively easily.
Non-profits are also businesses, and individual donations allow us to be innovative, provide high quality services, and sustain our work when other resources are unavailable. Individual donations also allow us to help people and families in ways that funders and program designers might not have considered.
Jumping on the Crypto Bandwagon
Cryptocurrencies let you buy goods and services, or trade them for profit. According to Forbes, “Acquisition of cryptocurrency is exponentially occurring, and the potential for growth is enormous. The market cap for the top 10 cryptocurrencies exceeds $1 trillion, and there are over 100 million active cryptocurrency users.”
In the United States, the IRS classifies bitcoin as property for tax purposes. This means that when someone donates bitcoin and other cryptocurrencies to a 501(c)(3) nonprofit like us, they do not have to pay capital gains tax, and their donation is tax-deductible if an email address is provided.
There are over 2 million eligible Texans living in our 76 County service area. In 2020, we served over 59,000 individuals. We assisted over 10,000 senior citizens and their families, over 3,000 veterans, surviving spouses, and dependents, and over 22,000 individuals and their families with domestic violence related situations.
By giving to us, you are fighting the barriers faced by the most vulnerable people in our community. You can donate crypto or visit our ways to give page to learn other ways to help us help Texans.
Lone Star Legal Aid is a 501(c)(3) nonprofit law firm focused on advocacy for low-income and underserved populations. Lone Star Legal Aid serves millions of people at 125% of federal poverty guidelines that reside in 72 counties in the eastern and Gulf Coast regions of Texas, and 4 counties of southwest Arkansas. Lone Star Legal Aid focuses its resources on maintaining, enhancing, and protecting income and economic stability; preserving housing; improving outcomes for children; establishing and sustaining family safety and stability, health and well‐being; and assisting populations with special vulnerabilities, like those with disabilities, or who are elderly, homeless, or have limited English language skills. To learn more about Lone Star Legal Aid, visit our website at https://www.lonestarlegal.org.
Media contact: Media@LoneStarLegal.org
