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Ripple Surprises Non-Profit with $29 Million Donation

Ripple Surprises Non-Profit with $29 Million Donation

When you email the co-founder of Ripple, Chris Larsen, asking for a favor, you might expect to get a friendly email thanking you for reaching out. Or perhaps a token gesture, promising that they will give you a shout out at their next press release. What you don’t expect is for them to do is pledge $29 million to your platform.

Chris Larsen is the CEO of Ripple.

However, this is precisely the situation that Charles Best, the founder of the nonprofit DonorsChoose.org found himself.

So when Best emailed Larsen asking for a big favor, he was worried that he might cause some offense or be ignored but thought that it was at least worth a try.

The platform that connects banks, payment providers, digital asset exchanges and corporates via the RippleNet to provide a smooth experience to send money globally. Ripple had been strong support for the non-profit years earlier, so he thought he would take a gamble. After Best sent off the big pitch, he told The San Francisco Chronicle:

“I kind of dared myself to send an email pitching an idea 10 times bigger than I’ve ever pitched before.”

Ripple did not Disappoint

So how exactly did Larsen and Ripple react to the pitch? They responded with a $29 million donation to the organization, enough money to fully fund over 35,000 classroom requests.

According to the San Francisco Chronicle, this would be the single most significant cryptocurrency donation in history.  The XRP that has been donated was converted into fiat dollars, where the nonprofit will fulfill the requests, buying books, funding field trips and helping to complete the projects.

Who exactly is DonorsChoose?

DonorsChooseDonorsChoose.org makes it easy for anyone to help a classroom in need. It was founded in 2000, and it all was teachers to post classroom project requests, and then donors can select the projects that they want to support.

Public school teachers from every corner of America create classroom project requests, and you can donate any amount to the project that inspires you.

With the funds that Ripple is donating, they are now able to complete every project that was pledged on their platform.

“The teachers behind these projects work with more than a million students who are now going to get materials and experiences that they need to learn.”

#bestschoolday

After the announcement, social media started filling up with mentions by the teachers and students who were previously not able to fund their projects.

The hashtag #bestschoolday started trending, with many teachers moved to tears because their projects could now be fulfilled.

Public schools who are often at a distinct disadvantage due to a lack of funding are now able to afford iPads, laptop bars, and school field trips, to name just a few.

The Ripple Foundation’s remarkable act of generosity and kindness has helped to improve the lives of many teachers who often use their minimum wage to make up for the lack of resources in their classes. The donation will surely make an enormous difference in both the teachers and students lives.

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