Open Identity Exchangeinc
- Assets
- $983.2k
- Revenue
- $399.3k
- Investments
- $0.0
- Employees
- 0
- Location
- San Ramon, CA
- Founding
- 01/2012
- Data as of
- 12/2017
- EIN
- 01-0948527
Organization Overview
Open Identity Exchangeinc is located in San Ramon, CA. The organization was established in 2012. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. Open Identity Exchangeinc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2017, Open Identity Exchangeinc generated $399.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (21.3%) each year. All expenses for the organization totaled $550.2k during the year ending 12/2017. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2017
Describe the Organization's Mission:
Part 3 - Line 1
THE OPEN IDENTITY EXCHANGE (OIX) IS A TECHNOLOGY AGNOSTIC, NON-PROFIT TRADE ORGANIZATION OF LEADERS FROM COMPETING BUSINESS SECTORS FOCUSED ON BUILDING THE VOLUME AND VELOCITY OF TRUSTED TRANSACTIONS ONLINE. OIX ENABLES MEMBERS TO EXPAND EXISTING IDENTITY SERVICES AND SERVE ADJACENT MARKETS. MEMBERS ADVANCE THEIR MARKET POSITION THROUGH JOINT RESEARCH AND ENGAGING IN PILOT PROJECTS TO TEST REAL WORLD USE CASES. THE RESULTS OF THESE EFFORTS ARE PUBLISHED VIA OIX WHITE PAPERS AND SHARED PUBLICALLY VIA OIX WORKSHOPS. OIX MEMBERS WORK TOGETHER TO JOINTLY FUND AND PARTICIPATE IN PILOT PROJECTS (SOMETIMES REFERRED TO AS ALPHA PROJECTS). THESE PILOTS TEST BUSINESS, LEGAL, AND/OR TECHNICAL CONCEPTS OR THEORY AND THEIR INTEROPERABILITY IN REAL WORLD USE CASES. OIX OPERATES THE OIXNET TRUST REGISTRY, A GLOBAL, AUTHORITATIVE REGISTRY OF BUSINESS, LEGAL AND TECHNICAL REQUIREMENTS NEEDED TO ENSURE MARKET ADOPTION AND GLOBAL INTEROPERABILITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OIXNET CONTINUES TO ADD REGISTRATIONS OF TRUSTED IDENTITY SYSTEMS IN 2017. THE OIXNET REGISTRY IS AN ONLINE REGISTRY OF TRUST FRAMEWORKS AND TRUSTED IDENTITY SYSTEMS. IT IS THE FIRST REGISTRY DEVELOPED BY GLOBAL LEADERS ACROSS INDUSTRY SECTORS TO ENABLE ONLINE TRANSACTIONS AT HIGHER VOLUMES, VELOCITY AND VARIETY. OIXNET CONTINUES TO ADD REGISTRATIONS OF TRUSTED IDENTITY SYSTEMS WHILE LAUCHING A NEW OIXNET REGISTRY WEBSITE IN 2016.
OIX CONTINUED ITS LEADERSHIP ROLE IN THE LIGHTEST PROJECT IN 2017. LIGHTEST IS A PROJECT TO BUILD A GLOBAL TRUST INFRASTRUCTURE THAT ENABLES TRANSACTIONS IN A WIDE VARIETY OF APPLICATIONS. ON A GLOBAL SCALE THERE ARE AN INCREASING NUMBER OF ELECTRONIC TRANSACTIONS THAT ARE BECOMING PART OF EVERY DAY LIFE, AND IT IS NECESSARY TO HAVE ASSISTANCE FROM AUTHORITIES TO CERTIFY ELECTRONIC IDENTITIES. OIX'S ROLE IS AS THE CURATOR OF A TWO WAY GLOBAL CONVERSATION, EMBRACING BUSINESS, LEGAL AND TECHNICAL ASPECTS OF THIS COMPLEX RESEARCH PROJECT, ENSURING THAT THE DEVELOPMENT OF THE TWO CODE BASES 'TECHNICAL CODE AND 'LEGAL' CODE ARE ALIGNED AND INTEROPERABLE. OIX'S LIGHTEST WE'RE GLOBAL WITH ORGANIZATION REPRESENTATIVES PRESENTING AT GLOBAL INDUSTRY EVENTS WHILE HOSTING ADJACENT WORKSHOPS.
OIX LAUNCHED A NEW BETA PROJECT, THE OIX IDENTITY CHANNEL (OIX IDC). THE OIX IDC AGGREGATES, CURATES AND REDISTRIBUTES ITS MEMBERS' VIDEO AND RELATED CONTENT TO A GLOBAL BUSINESS AUDIENCE AND MAKES CONTENT EASIER TO FIND BY CENTRALIZING DIVERSE CONTENT SOURCES. THE OIX IDC IS VIEWED AS NEUTRAL COMING FROM THE ONLY NON-PROFIT, TECHNOLOGY-AGNOSTIC, CROSS-SECTOR, PUBLIC/PRIVATE PARTNERSHIP WITH GLOBAL REPUTATION AS AN AUTHORITY ON INTERNET IDENTITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Thibeau Chairman And President | OfficerTrustee | 40 | $151,250 |
Paul Agbabian Vice-President | OfficerTrustee | 1 | $0 |
Kim Sutherland Secretary | OfficerTrustee | 1 | $0 |
John Bradley Treasurer | OfficerTrustee | 2 | $0 |
Anthony Nadalin Director | Trustee | 1 | $0 |
Adam Dawes Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Don Thibeau Executive Director Services | 12/30/16 | $165,000 |
Locke Lord Llp Legal Counsel | 12/30/16 | $145,603 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $399,277 |
| Investment income | $10 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $399,287 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $223,560 |
| Fees for services: Legal | $93,288 |
| Fees for services: Accounting | $9,651 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $58,858 |
| Advertising and promotion | $0 |
| Office expenses | $49 |
| Information technology | $3,055 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $46,290 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,034 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,215 |
| Insurance | $8,475 |
| All other expenses | $173 |
| Total functional expenses | $550,189 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $891,827 |
| Savings and temporary cash investments | $20,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $63,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $5,153 |
| Net Land, buildings, and equipment | $3,215 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $983,195 |
| Accounts payable and accrued expenses | $110,900 |
| Grants payable | $0 |
| Deferred revenue | $231,148 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $342,048 |
| Unrestricted restricted net Assets | $641,147 |
| Temporarily restricted net Assets | $0 |
| Permanently restricted net Assets or current funds | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total net assets or fund balances | $641,147 |
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