Irvine Valley College Foundation Now Accepts Donations of Cryptocurrency
Friday, February 14, 2020
The Irvine Valley College (IVC) Foundation is now accepting cryptocurrency donations, putting the college in the first ranks of a new era in fundraising.
“We are thrilled to be among the first colleges that can accept contributions via BitPay,” said Elissa Oransky, the foundation’s executive director. “The IVC Foundation received its first gift of crypto (also known as digital, virtual, or cyber) currency recently. While we are not the first nonprofit to accept gifts of this kind, we are among the early adopters.”
Founded in 2011 as a Bitcoin payment solution, BitPay has handled more than $50 million in donations since 2017. Working similarly to stock donations, crypto donations are acknowledged for tax purposes and provide donors with new giving opportunities. The IVC Foundation looks forward to building new relationships with its diverse and tech-savvy community of supporters in this manner.
The decentralized cryptocurrency market has grown and evolved into a global force since the 2008 creation of the first cryptocurrency, Bitcoin. According to CoinMarketCap, which tracks more than 5,000 forms of cryptocurrency, they have a collective market value of more than $255 billion.
Fidelity’s annual Charity Giving Report has shown a mercurial rise in the number of crypto donations each year since 2016. A WeTrust survey, meanwhile, found that a full 77% of crypto holders are interested in donating to charity. In 2019, San Francisco State University received a $25 million Ripple donation that was lauded as the largest cryptocurrency donation made to a U.S. educational institution.
The Irvine Valley College Foundation believes in contributing to a meaningful experience that enhances teaching and learning at Irvine Valley College. Every day we cultivate resources because we strive to provide access to an exceptional education and a caring campus community. For more information and/or to make a gift, visit https://foundation.ivc.edu.
Irvine Valley College is an education partner of the Greater Irvine Chamber.
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