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Bitcoin Policy Institute

EIN 88-1567390 · Nashville, TN

Public records show a registered, tax-exempt organization in good standing.

LegitimacyPassesRegistration and standingFinancial healthStrong93 out of 100GovernanceFair63 out of 100Impact evidenceDescribes programsHow well its results are evidenced

What it says it does

BITCOIN POLICY INSTITUTE (BPI) IS A NON-PROFIT, NON-PARTISAN ORGANIZATION THAT CONDUCTS RESEARCH ON BITCOIN AND EMERGING TECHNOLOGIES, PROVIDES CHARITABLE LEGAL SUPPORT TO DEFEND BITCOIN USERS AND DEVELOPERS' RIGHTS, AND EDUCATES THE PUBLIC AND POLICYMAKERS TO PROTECT CIVIL LIBERTIES IN THE DIGITAL AGE.

Income
$3.3 million
Spending
$1.9 million
Spent on programs
88%
Reserves
11.3 months of spending
Largest source of income
donations and private grants, 100%
Employees
3
Volunteers
4
Highest pay
$165,750, co-ceo

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Financial health

Strong: 93 out of 100. Higher than 76% of charities in its peer group (public benefit, $1m to $10m).

  • Reserves

    28 of 35

    Spendable reserves would cover 11.3 months of spending.

  • Debt

    20 of 20

    It owes 1% of what it owns.

  • Living within its means

    15 of 15

    Income exceeded spending by 41% of income.

  • Income trend

    15 of 15

    Income rose 208% on the year before.

  • Spending floor

    15 of 15

    88% of spending went to programs and raising each dollar of donations cost 2 cents.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Governance

Fair: 63 out of 100. Higher than 15% of charities in its peer group (public benefit, $1m to $10m).

  • Independent board

    18 of 25

    3 of 3 voting board members are independent.

  • Conflict of interest policy

    15 of 15

    Has a written conflict of interest policy.

  • Whistleblower policy

    0 of 8

    Reports no written whistleblower policy.

  • Record keeping policy

    0 of 7

    Reports no written policy on keeping and destroying records.

  • Board minutes

    5 of 5

    Keeps minutes of board meetings.

  • Board sees the tax return

    10 of 10

    Gave the board a copy of this return before filing it.

  • Pay set independently

    5 of 5

    Sets its chief executive's pay through independent review and comparison.

  • Independent check of accounts

    0 of 15

    Its accounts were not audited or reviewed by an independent accountant.

  • No reported misuse

    10 of 10

    Reports no diversion of assets, excess benefits or loans to insiders.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Impact evidence

Describes programs. Its tax return describes what it does but we have found no measurable results in it.

Programs described in its return (3)
  1. $820,414 spent. POLICY EDUCATION - BPI PRODUCES DETAILED REPORTS, FACT SHEETS, INFOGRAPHICS, AND PRESENTATIONS IN ORDER TO EDUCATE POLICYMAKERS, JOURNALISTS, AND THE PUBLIC. THIS WORK IS OFTEN INDEPENDENTLY VALUABLE TO KEY STAKEHOLDERS, BUT IT ALSO SERVES AS THE FOUNDATION FOR FURTHER EDUCATIONAL OPPORTUNITIES FOR THE ORGANIZATION, INCLUDING, BUT NOT LIMITED TO: ONE-ON-ONE EDUCATION SESSIONS, WEBINARS, CONGRESSIONAL BRIEFINGS, PANEL DISCUSSIONS, AND CONFERENCES.
  2. $239,646 spent. FELLOWS PROGRAM - BPI ENGAGES FELLOWS TO SUPPORT THEIR CRYPTOCURRENCY RESEARCH AND ANALYSIS. FELLOWS ARE SELECTED BASED ON THEIR SUBJECT MATTER EXPERTISE AND ARE PUBLICLY LISTED ON THE ORGANIZATION'S WEBSITE. FELLOWS ARE PAID A MONTHLY RETAINER AND REQUIRED TO PRODUCE WORK PRODUCT IN THE FORM OF OP-EDS, BLOG POSTS, AND ARTICLES.
  3. $647,167 spent. P2P RIGHTS FUND THE ORGANIZATION OPERATES THE P2P RIGHTS FUND AS A PUBLIC-INTEREST LEGAL AND EDUCATIONAL PROGRAM THAT ADVANCES ITS CHARITABLE MISSION TO PROTECT CIVIL LIBERTIES AND PROMOTE LAWFUL TECHNOLOGICAL INNOVATION. THE FUND PROVIDES CRITICAL RESOURCES TO SUBSIDIZE DEFENSE COUNSEL AND SPONSOR AMICUS BRIEFS IN PIVOTAL CIVIL AND CRIMINAL CASES WHERE THE OUTCOME IS LIKELY TO SHAPE THE LEGAL TREATMENT OF OPEN-SOURCE, NON-CUSTODIAL BITCOIN TOOLS; STRATEGICALLY SUPPORTS AND FINANCES AFFIRMATIVE IMPACT LITIGATION IN CAREFULLY SELECTED CASES TO ESTABLISH CLEAR LEGAL PRECEDENTS FOR THE BENEFIT OF THE PUBLIC; AND OFFERS FREE OR SUBSIDIZED REGULATORY GUIDANCE TO ENTITIES DEVELOPING OPEN-SOURCE SOFTWARE SO THEY CAN COMPLY WITH EXISTING LAW. THESE ACTIVITIES ARE UNDERTAKEN ON A PUBLIC-INTEREST AND FINANCIAL-NEED BASIS, AND ARE DESIGNED TO ASSIST COURTS AND REGULATORS, PROTECT CONSTITUTIONAL RIGHTS, AND IMPROVE LEGAL CLARITY FOR ALL PARTICIPANTS IN THE ECOSYSTEM.

Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate

Legitimacy checks

  1. Is it registered with the IRS? Passed.

    Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  2. Has the IRS revoked its tax-exempt status? Passed.

    Not on the IRS automatic revocation list.

    Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.

  3. Are donations tax-deductible? Passed.

    On the IRS list of organizations eligible to receive tax-deductible contributions.

    Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.

  4. Is it keeping up with its IRS filings? Passed.

    Most recent return on file covers the year ending December 2024.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  5. How long has it been tax-exempt? Passed.

    Recognized by the IRS since July 2022.

    Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.

  6. Is it in good standing with state regulators? Passed.

    Not on California's list of charities barred from soliciting. Other states are not yet checked.

    Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.

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