Ought Inc
- Assets
- $3.9m
- Revenue
- $796.2k
- Investments
- $0.0
- Employees
- 9
- Location
- Covina, CA
- Founding
- 05/2018
- Data as of
- 02/2022
- EIN
- 81-2121304
Organization Overview
Ought Inc is located in Covina, CA. The organization was established in 2018. According to its NTEE Classification (U40) the organization is classified as: Engineering & Technology, under the broad grouping of Science & Technology and related organizations. As of 02/2022, Ought Inc employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ought Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 02/2022, Ought Inc generated $796.2k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 46.4% each year . All expenses for the organization totaled $1.6m during the year ending 02/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SCALE AND AUTOMATE OPEN-ENDED REASONING BY STUDYING HUMAN REASONING AND APPLYING MACHINE LEARNING OR AI. CURRENTLY BUILDING ELICIT, AN AI TO SUPPORT ACADEMICS AND RESEARCHERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUGHT INC. IS A RESEARCH LAB BASED IN SAN FRANCISCO THAT CONDUCTS CONCEPTUAL AND EMPIRICAL RESEARCH ON SUPPORTING DELIBERATION USING ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING. WE SHARE OUR FINDINGS OPENLY. TO THIS END, WE HAVE PUBLISHED A TAXONOMY OF APPROACHES TO DECOMPOSING COMPLEX REASONING ABOUT NATURAL LANGUAGE QUESTIONS INTO SMALL COMPONENT TASKS THAT CAN IN PRINCIPLE BE AUTOMATED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andreas Stuhlmueller Principal Researcher | OfficerTrustee | 50 | $150,000 |
Jungwon Byun Cofounder & COO | OfficerTrustee | 50 | $149,987 |
Benjamin Rachbach Experimenter | 50 | $133,091 | |
Eli Lifland Experimenter | 50 | $101,250 | |
Owain Evans Board Director | Trustee | 1 | $0 |
Paul Christiano Board Director | Trustee | 5 | $0 |
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 | $766,287 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $766,287 |
| Total Program Service Revenue | $29,596 |
| Investment income | $295 |
| 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 | $796,178 |
| 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 | $940,699 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $73,692 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,345 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $205,458 |
| Advertising and promotion | $0 |
| Office expenses | $218,897 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $43,850 |
| Travel | $37,803 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,517 |
| Insurance | $10,658 |
| All other expenses | $422 |
| Total functional expenses | $1,559,266 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,383,146 |
| Savings and temporary cash investments | $2,511,931 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $15,440 |
| Net Land, buildings, and equipment | $5,782 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $10,952 |
| Other assets | $5,000 |
| Total assets | $3,932,251 |
| Accounts payable and accrued expenses | $164,280 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $164,280 |
| Net assets without donor restrictions | $3,767,971 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $3,932,251 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Ought Inc has recieved totaling $554,539.
| Awarding Organization | Amount |
|---|---|
Founders Pledge Inc New York, NY PURPOSE: GENERAL SUPPORT | $542,000 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $12,539 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Mozilla Foundation San Francisco, CA | $66,895,760 | $26,523,745 |
Applied Technology Council Redwood City, CA | $8,408,642 | $4,921,582 |
Equalize Health San Francisco, CA | $2,578,144 | $2,659,678 |
Aquaya Institute San Anselmo, CA | $2,762,883 | $3,651,840 |
Arizona Technology Council Phoenix, AZ | $832,086 | $1,960,738 |
Globalplatform Inc A Delaware Corporation Redwood City, CA | $3,723,105 | $2,155,351 |
Ought Inc Covina, CA | $3,932,251 | $796,178 |
Openai Inc San Francisco, CA | $19,976,363 | $11,728 |
The Foresight Institute San Francisco, CA | $1,819,148 | $1,599,886 |
La-Mas Inc Los Angeles, CA | $1,016,379 | $899,237 |
Hawaii-Pacific Foundation Inc Honolulu, HI | $4,397,833 | $4,049,024 |
Extreme Tech Challenge Palo Alto, CA | $757,069 | $399,967 |