Here are some answers to the most frequent asked questions about your donations
YOU SAY THAT MY DONATION IS TAX-DEDUCTIBLE. WHAT DO I NEED TO CLAIM IT ON MY TAX-RETURN?
Fenix Family Fund has been approved by the IRS to be tax-exempt 501(c)(3) charitable organization and your donations are tax-deductible. To deduct a charitable contribution, you must file Form 1040 and itemize deductions on Schedule A. In your tax-return you just put our EIN 82-1446199. For a contribution of more than $250 you should keep our receipt on file, that we send to everybody by the end of January.
IRS says: To claim a deduction for contributions of cash or property equaling $250 or more you must have a bank record, payroll deduction records or a written acknowledgment from the qualified organization showing the amount of the cash and a description of any property contributed, and whether the organization provided any goods or services in exchange for the gift. One document may satisfy both the written communication requirement for monetary gifts and the written acknowledgement requirement for all contributions of $250 or more. If your total deduction for all noncash contributions for the year is over $500, you must complete IRS Form 8283, Noncash Charitable Contributions, to your return.
I MADE A DONATION IN BITCOIN, ETHEREUM, LITECOIN,BITCOIN CASH, OR ANY OTHER CRYPTOCURRENCY. CAN I CLAIM IT ON MY TAX-RETURN?
Yes, but in this case you should write to us. Please let us know about your contribution and we'll provide you with a statement of your donations and their value in USD on the date the donations were made. And we swear to respect your anonymity.
IT IS OBVIOUS THAT YOU HAVE SOME TRANSACTION FEES. CAN I LEARN MORE ABOUT IT TO FIND A MORE EFFECTIVE WAY TO SUPPORT YOU?
Here's some information about transaction fees when you donate to our charity. When you donate via:
- Paypal: 2.2%+30c per each donation. We have lower fee than usual transaction because we are an IRS approved public charity
- Stripe: 2.2%+30c per each donation. We have lower fee than usual transaction because we are an IRS approved public charity
- Paypal Giving fund: Free of charges. However you donate directly to Paypal Giving Fund that will transfer your donation to our account by the end of the month, so we don’t know that you are our supporter before this date and cannot send you a “thank you” note or any news and updates.