Case Studies & Testimonials » The ITRC
Why the ITRC used The Giving Block to secure a $1.4 Million bitcoin donation
In 2024, an anonymous donor offered to give The Identity Theft Resource Center (ITRC) a $1.4 million Bitcoin donation. Learn why The Giving Block was instrumental in facilitating this major gift, showcasing its expertise in handling large cryptocurrency donations and providing a seamless experience for both the donor and the nonprofit.
$1.4M
Market value of the crypto donor’s charitable bitcoin gift
<1 week
Time from first contact with The Giving Block to donation processing
#1
Largest individual donation received in the ITRC’s history
Mission
Founded in 1999, the ITRC is a national nonprofit organization established to empower and guide consumers, victims, business and government to minimize risk and mitigate the impact of identity compromise and crime. Through public and private support, the ITRC provides no-cost victim assistance and consumer education. The ITRC also equips consumers and businesses with information about recent data breaches.
Donating crypto is more popular than ever, but many fundraisers don’t have a crypto acceptance solution.
The ITRC has primarily relied on grants for funding over its 25-year history and had limited experience with individual donations. What’s more, it had never accepted a cryptocurrency donation before.
That all changed in May 2024, when a donor tried to make a significant Bitcoin donation—with a market value of $1.4 million—to the ITRC.
The donor couldn’t find a crypto giving form on the organization’s website, so they contacted The Giving Block directly to see if there was a way we could help process the donation.
Onboarding the ITRC into crypto fundraising
While the ITRC lacked the knowledge and infrastructure to securely and efficiently process cryptocurrency donations, this would no longer be an issue in a matter of days.
After our team heard from the would-be donor, we emailed the ITRC and followed up with a phone call. We then spoke with a member of the ITRC’s leadership team and took time to explain the situation and the opportunity.
The prospect of receiving an unsolicited million-dollar bitcoin donation may seem surprising. But we assured the ITRC’s team that the donation was indeed legitimate, and could be processed securely.
From there, the ITRC’s team conducted its due diligence. During this process, the team discovered that:
- Donating crypto is highly tax-efficient, particularly for high-net worth individuals
- Thousands of organizations rely on The Giving Block to accept crypto donations
- Crypto donors regularly contact us to “nominate” organizations they want to support
- Our team offers hands-on processing services for large cryptocurrency donations
Within a few days of the first conversation, the ITRC was onboarded with The Giving Block and ready to accept cryptocurrency donations.
Watch an interview with the ITRC’s Eva Velasquez discussing the $1.4 million bitcoin donation:
Helping the bitcoin donor securely make their gift
For the final step, we assisted the donor in processing the $1.4 million bitcoin donation.
While 99% of crypto donations are processed via our secure crypto donation form, some high-net worth donors prefer an extra white-glove donation experience. Using our Private Donor Services offering, we were able to handle the donation with extra care.
This generous donor preferred to give anonymously, so their personal information was not shared with the organization. However, the donor offered a statement which the ITRC used in its press release celebrating the gift’s impact:
I am very glad to hear that [the ITRC] will be able to provide much support to victims with these funds and hope this will make a positive change in the lives of many fraud victims, in particular, those who had very little to begin with and had that taken away from them by criminals. Unfortunately, we live in a society where greed knows no bounds, and the vulnerable are taken advantage of every day, and I hope and pray that my donation to the ITRC will help these people regain their lives.
Once the bitcoin donation was received, it was automatically converted to cash, making it available for the ITRC to use in furthering its vital mission.
Sharing the impact of the bitcoin donation
The unexpected donation gave the ITRC an immediate boost of $1.4 million, significantly enhancing its capacity to support identity theft victims. Plus, the organization is now equipped to accept future cryptocurrency donations, opening new avenues for funding. Inspired by one donor’s generosity, the ITRC now welcomes further support from individual donors.
So often we only hear of criminals misusing cryptocurrency to take advantage of people. This Bitcoin donation shows the other side of that coin, so to speak – that cryptocurrency, the underlying technology, and crypto community leaders can help identity crime victims at a time when they are most vulnerable.
The partnership between The Giving Block and ITRC highlights the transformative potential of cryptocurrency donations for nonprofits. With The Giving Block’s expertise, the ITRC not only secured a significant gift but also established a foundation for future crypto fundraising efforts.
Take advantage of crypto fundraising for your nonprofit
The Giving Block is the world’s leading solution for nonprofits accepting cryptocurrency donations.
Schedule a demo with The Giving Block’s team today to learn how your nonprofit can benefit from cryptocurrency donations.
