Open Connectivity Foundation Inc
- Assets
- $752.9k
- Revenue
- $915.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Beaverton, OR
- Founding
- 08/2016
- Data as of
- 12/2021
- EIN
- 47-1709705
Organization Overview
Open Connectivity Foundation Inc is located in Beaverton, OR. The organization was established in 2016. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Open Connectivity Foundation Inc 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 12/2021, Open Connectivity Foundation Inc generated $915.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (18.8%) each year. All expenses for the organization totaled $993.6k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (10.4%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF OPEN CONNECTIVITY FOUNDATION, INC. (OCF) IS TO DEFINE CONNECTIVITY REQUIREMENTS AND ENSURE INTEROPERABILITY OF THE BILLIONS OF DEVICES THAT WILL MAKE UP THE EMERGING INTERNET OF THINGS (IOT).
Describe the Organization's Program Activity:
Part 3 - Line 4a
1. SPECIFICATION DEVELOPMENTOCF DEVELOPS AND PUBLISHES SPECIFICATIONS, WHICH DEFINE AND PROMOTE COMMUNICATION AND INTEROPERABILITY REQUIREMENTS FOR THE "INTERNET OF THINGS." TO DEVELOP THESE SPECIFICATIONS, OCF HAS ESTABLISHED WORK GROUPS TO PRODUCE TECHNICAL SPECIFICATIONS AND RELATED DOCUMENTATION, CONSISTENT WITH THE OCF MISSION STATEMENT. OCF ADOPTS AND PUBLISHES FINAL SPECIFICATIONS THROUGH PROCEDURES SPECIFIED IN ITS BYLAWS AND BOARD RESOLUTIONS. IT HAS ALREADY PUBLISHED SEVERAL VERSIONS AVAILABLE ON ITS PUBLIC WEBSITE.
2. OPEN SOURCE PROJECT OCF SPONSORS OPEN SOURCE PROJECTS TO ENABLE THE DEVELOPMENT OF OPEN SOURCE SOFTWARE IN SUPPORT OF THE OCF SPECIFICATIONS. OCF IS THE SOLE SPONSOR TO THE IOTIVITY.ORG OPEN SOURCE PROJECT. OPEN SOURCE CONTRIBUTIONS CAN BE INITIATED BY MEMBERS AND THE GENERAL PUBLIC.
3. CERTIFICATIONFOLLOWING PUBLICATION OF SPECIFICATIONS AND OPEN SOURCE PROJECTS, OCF HAS DEVELOPED A FORMAL CERTIFICATION PROCESS FOR THOSE PRODUCTS THAT PASS THE CERTIFICATION REQUIREMENTS. TECHNICAL RESOURCES, SUCH AS SOFTWARE IN BINARY AND/OR SOURCE CODE FORM, FOR VALIDATING COMPLIANCE WITH SPECIFICATIONS AND OPEN SOURCE PROJECTS HAVE BEEN PRODUCED AND FUNDED BY OCF. THE ORGANIZATION HAS ALSO DEVELOPED A TEST TOOL FOR TESTING AGAINST THE SPECIFICATION AND OPEN SOURCE IMPLEMENTATIONS. PLUGFESTS AND INTEROP EVENTS WERE HELD THAT PROVIDE OPPORTUNITIES FOR MEMBERS TO TEST INTEROPERABILITY AND VALIDATE COMPLIANCE WITH SPECIFICATIONS AND OPEN SOURCE PROJECTS. THIS ACTIVITY IS CONDUCTED BY INDEPENDENT TEST LABS WORLD-WIDE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Park Executive Director | Officer | 40 | $219,370 |
Brian Scriber Secretary | OfficerTrustee | 1 | $0 |
Wouter Van Der Beek Director | Trustee | 1 | $0 |
Miao Wang Director | Trustee | 1 | $0 |
David Cronstrom Director | Trustee | 1 | $0 |
Ed Tiedemann Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Vital Technical Marketing Inc (Dba Vtm Management & It Services | 12/30/21 | $254,814 |
Cinder Llc Peo | 12/30/21 | $247,170 |
Comarch Inc Information Technology Services | 12/30/21 | $141,340 |
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 | $914,205 |
| Investment income | $808 |
| 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 | $915,013 |
| 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. | $231,211 |
| 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 | $12,720 |
| Fees for services: Management | $166,260 |
| Fees for services: Legal | $50,579 |
| Fees for services: Accounting | $5,930 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $125,884 |
| Office expenses | $9,312 |
| Information technology | $128,185 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,121 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,546 |
| All other expenses | $236,870 |
| Total functional expenses | $993,618 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $108,692 |
| Savings and temporary cash investments | $563,117 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $33,685 |
| 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 | $47,396 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $752,890 |
| Accounts payable and accrued expenses | $73,079 |
| Grants payable | $0 |
| Deferred revenue | $113,708 |
| 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 | $79,500 |
| Total liabilities | $266,287 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $486,603 |
| Total liabilities and net assets/fund balances | $752,890 |
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