Bitcoin and good causes seem to go hand in hand as of late, which is in part thanks to major charitable organizations such as the American Red Cross and The Water Project openly accepting Bitcoin donations. And let’s not forget the efforts by BitGive either, as they are doing some remarkable work as of late. But who would’ve thought a Methodist Church would start accepting Bitcoin as a form of donations on their own accord?
Fern Creek United Methodist Church
Louisville, Kentucky will never be the same again as of today. The Fern Creek United Methodist Church has decided to start accepting donations in the form of Bitcoin on their website, in what seems to be a rather radical move. Don’t expect to see a Bitcoin ATm near the holy water just yet though, but the option is available on the website right now.
In fact, most people will be quite surprised about the due diligence put into accepting Bitcoin donations by the Fern Creek United Methodist Church. Instead of just putting up a Bitcoin wallet address on the website for people to send donations to, they offer interested parties three different options to make a contribution.
Bitcoin enthusiasts have to admire the “Bitcoin Accepted Here” logo, which can be found on both the Fern Creek United Methodist Church website’s main page, as well as on the Bitcoin donation page. It would be interesting to see the physical church building make a mention of Bitcoin being accepted as well in the future.
On the Bitcoin donation page, you will find some information about how a Bitcoin donation may provide tax advantages over other contribution methods. However the Fern Creek United methodist Church does warn about the regulations being unclear and how they can be changed at any time. It is always best to contact your tax advisor to verify whether or not you would receive a tax advantage from making a Bitcoin contribution.
Three Bitcoin Donation Options
When you wish to make a contribution to the Fern Creek United Methodist Church, there are three different options at your disposal. Option one lets you make a one-time donation which will be acknowledged on the donator’s regular FCUMC Giving Statement. This type of donations can make you eligible for a tax advantage.
Option two lets you send an anonymous one-time donation , which can be done by scanning the QR code on the Bitcoin donations webpage. Do keep in mind that using the anonymous donation option, the donation itself can not be acknowledged for tax deductibility or any other purposes. However, the donation will be visible on the Bitcoin blockchain of course.
Last but not least, you also have the option to set up a recurring Bitcoin donation plan, which will be billed every week/month/quarter. To use this option, you will need a CoinBase account, as recurring payments are not natively supported by the Bitcoin protocol. Fern Creek United Methodist Church even offers their referral link for you to create a CoinBase account, as you will receive US$1 worth of free Bitcoin once you have verified the account.
Overall, the FCUMC has done a tremendous job in setting up the Bitcoin donations webpage, especially considering they offer three different choices. Furthermore, they also looked into providing people with some basic information regarding a tax advantage, as well as setting up an account with CoinBase to support recurring Bitcoin donations.
Website : http://www.ferncreekumc.org/bitcoin