Sovrin Foundation

Organization Overview

Sovrin Foundation is located in Salt Lake City, UT. The organization was established in 2018. According to its NTEE Classification (S12) the organization is classified as: Fund Raising & Fund Distribution, 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. Sovrin Foundation is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.

For the year ending 12/2021, Sovrin Foundation generated $90.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (22.5%) each year. All expenses for the organization totaled $133.5k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE PURPOSE OF THE FOUDNATION (SOVRIN) IS TO PROVIDE A GLOBAL PUBLIC UTILITY FOR SELF-SOVEREIGN (I.E. USER CONTROLLED) INTERNET IDENTITY THAT STREAMLINES INTERACTIONS AND ENABLES STRONGER LEVELS OF TRUST AMONG ALL INDIVIDUALS, ORGANIZATIONS AND THINGS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

NETWORK DEVELOPMENT AND OPERATIONS:1. EXPLOITED THE SOVRIN NETWORK FOR PUBLIC USE AND BILLED FOR LEDGER WRITE ACTIVITY2. OPERATED NETWORK PROVIDING OVERSIGHT AND COORDINATION AMONG THE STEWARDS OPERATING NODES


NETWORK GROWTH:1. ATTENDED AND PRESENTED INFORMATION AT MANY CONFERENCES TO EDUCATE AND ENCOURAGE DEVELOPMENT AND ADOPTION OF SOVRIN NETWORK.2. CONTINUED TO CULTIVATE OPEN SOURCE SOFTWARE DEVELOPMENT COMMUNITY WITHIN LINUX FOUNDATION'S HYPERLEDGER INDY AND URSA.3. UPGRADED AND ADDED TO FOUNDATION WEBSITE TO ATTRACT STEWARDS AND SOFTWARE DEVELOPMENT COMMUNITY AND TO EDUCATE ABOUT THE VIRTUES OF SELF-SOVEREIGN IDENTITY AND THE SOVRIN NETWORK.4. PUBLISHED ORIGINAL CONTENT TO HELP EDUCATE THE TECHNOLOGY COMMUNITY ABOUT SELF-SOVEREIGN IDENTITY.BY MAKING FOUNDATIONS TECHNOLOGY OPEN-SOURCE IT IS AVAILABLE TO ALL TO USE WITHOUT PAYING A LICENSE FEE TO THE FOUNDATION. THIS PROMOTES OUR MISSION TO PROVIDE A GLOBAL PUBLIC UTILITY FOR SELF-SOVEREIGN IDENTITY.


IDENTITY FOR ALL:1. DEVELOPED WRITTEN RESOURCES TO ASSIST HUMANITARIAN ORGANIZATIONS IN ADOPTING SELF-SOVEREIGN IDENTITY2. PUBLISHED A PAPER ON "OUTLINING A SELF-SOVEREIGN APPROACH TO DEVICE ONBOARDING"3. PROVIDED EXPERT CONSULTATION TO HELP THE TECHNOLOGY INDUSTRY UNDERSTAND THE NEEDS OF HUMANITARIAN ORGANIZATIONS IN PROVIDING DIGITAL IDENTITY TO THOSE PEOPLE THEY SERVE4. PROVIDED GUIDANCE FOR ORGANIZATIONAL GOVERNANCE WHEN ADDRESSING POLICIES THAT WILL IMPACT THE PEOPLE THAT HUMANITARIAN ORGANIZATIONS ASSIST5. PRESENTED HUMAN-CENTRIC GROUPING OF "PRINCIPLES OF SSIX AND ADDED TERM "DELEGATION"6. PUBLICATION OF "GUARDIANSHIP CREDENTIALS IMPLEMENTATION GUIDELINES"7. PUBLICATION OF "GUARDIANSHIP CREDENTIALS TECHNICAL REQUIREMENTS"8. RESPONDED TO NOTICE OF PROPOSED RULEMAKING REGARDING "REQUIREMENTS FOR CERTAIN TRANSACTIONS INVOLVING CONVERTIBLE VIRTUAL CURRENCY OR DIGITAL ASSETS" (THE "NPRM").


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Board, Officers & Key Employees

Name (title)Compensation
Stephen Curran
Trustee/chair
$0
Philippe Page
Trustee
$0
Daniel Hardman
Trustee
$0
Andre Kudra
Trustee
$0
Lohan Spies
Trustee
$0
Marta Piekarska-Geater
Trustee
$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$718
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$718
Total Program Service Revenue$89,998
Investment income $2
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 $90,718

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