Zcash Foundation
- Assets
- $32.8m
- Revenue
- $26.4m
- Investments
- $24.8m
- Employees
- 9
- Location
- McLean, VA
- Founding
- 09/2017
- Data as of
- 12/2021
- EIN
- 82-0707962
Organization Overview
Zcash Foundation is located in McLean, VA. The organization was established in 2017. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 12/2021, Zcash Foundation employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Zcash Foundation 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 12/2021, Zcash Foundation generated $26.4m in total revenue. All expenses for the organization totaled $5.6m during the year ending 12/2021. While expenses have increased by 102.3% per year over the past 5 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2018, Zcash Foundation has awarded 11 individual grants totaling $1,319,713. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OUR MISSION AT THE ZCASH FOUNDATION IS TO HELP SUSTAIN AND IMPROVE OPEN FINANCIAL NETWORKS THAT ALLOW ANYONE AND EVERYONE TO PROTECT THEIR OWN PRIVACY, ON THEIR OWN TERMS. WHILE OUR PRIMARY FOCUS IS THE ZCASH PROTOCOL AND BLOCKCHAIN, WE ALSO SUPPORT BROADER APPLICATIONS OF ZERO KNOWLEDGE PROOFS, AS WELL AS OTHER APPROACHES TO FINANCIAL PRIVACY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ZCASH OPEN MAJOR GRANTS (ZOMG) IS A TECHNOLOGY ADVISORY BOARD THAT CONSTITUTES A COMMITTEE OF THE ZCASH FOUNDATION, UNDER ITS BYLAWS. GRANTS ARE CHOSEN BY A COMMITTEE OF FIVE MEMBERS WHO ARE CHOSEN BY THE ZCASH COMMUNITY ADVISORY PANEL (ZCAP) IN AN OPEN ELECTION. FUNDING FOR ZOMG'S ACTIVITIES IS PROVIDED VIA THE DEV FUND SPECIFIED IN ZIP 1014.
PROTOCOL AND GOVERNANCE: THE ZCASH PROTOCOL AND THE OPEN NETWORK IT POWERS IS VALUABLE, PRIVACY-PROTECTING INTERNET INFRASTRUCTURE; IT SHOULD BE DEVELOPED AND MAINTAINED BY AN OPEN AND DIVERSE COMMUNITY OF EXPERTS AND ENTHUSIASTS, AND IT SHOULD REMAIN ALWAYS A TOOL FOR FINANCIAL PRIVACY AVAILABLE TO THE GENERAL PUBLIC. WE WILL ACT AS STEWARDS OF THE ZCASH PROTOCOL, PROVIDING LEADERSHIP AND SUPPORTING ITS CONTINUED MAINTENANCE AND IMPROVEMENT.
COMMUNITY: OUR GOAL AT ZF IS TO CREATE TOOLS THAT HELP SUSTAIN OPEN NETWORKS, ENABLING ANYONE AND EVERYONE TO PROTECT THEIR OWN PRIVACY ON THEIR OWN TERMS. THE ESSENCE OF PRIVACY ITSELF IS BEING ABLE TO CHOOSE WHAT IS OR ISN'T SHARED WITH OTHERS. PRIVACY COMPRISES BOTH AUTONOMY AND CONSENT; IT IS ESSENTIAL TO HUMAN DIGNITY AND THE HEALTHY CONTINUATION OF CIVIL SOCIETY.
SCIENCE: TECHNICAL DECISIONS ARE BEST SUPPORTED BY SCIENTIFIC ACTIVITIES, SUCH AS RIGOROUS VALIDATION, EMPIRICAL MEASUREMENT, AND CONTINUED INNOVATION AND REFINEMENT. WE WILL THEREFORE SUPPORT THESE ACTIVITIES WITHIN OUR COMMUNITY. ALL CRYPTOCURRENCIES, BUT ESPECIALLY ZCASH, RELY ON CUTTING-EDGE CONTRIBUTIONS FROM THE SCIENTIFIC RESEARCH COMMUNITY, THUS INTERACTION WITH THIS COMMUNITY CAN ALSO HELP THE COMMUNITY STAY HEALTHY. WE WILL ENCOURAGE THIS SCIENTIFIC RESEARCH AND EDUCATE THE PUBLIC REGARDING THE SUBSTANCE AND BENEFITS OF THESE SCIENTIFIC DEVELOPMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deirdre Connolly Cryptography Engineer | 40 | $302,842 | |
Chelsea Komlo Cryptography Researcher & Engineer | 18.2 | $190,551 | |
Jack Gavigan Executive Director | OfficerTrustee | 31.5 | $142,100 |
Alex Bornstein Chief Operating Officer | Officer | 40 | $102,217 |
Danika Delano Operations Director | 40 | $101,050 | |
Antonie Hodge Director | Officer | 6.75 | $37,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alyem Productions Slu Software Development | 12/30/21 | $118,849 |
Jack Gavigan Software Development | 12/30/21 | $142,100 |
Gpl Gouvea Tlda Software Development | 12/30/21 | $112,128 |
T Software Pty Ltd Software Development | 12/30/21 | $174,168 |
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 | $25,641,403 |
| Noncash contributions included in lines 1a–1f | $25,581,403 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $25,641,403 |
| Total Program Service Revenue | $0 |
| Investment income | $2,481 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $803,709 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $26,447,593 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,268,995 |
| Grants and other assistance to domestic individuals. | $528,734 |
| Grants and other assistance to Foreign Orgs/Individuals | $1,471,484 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $307,131 |
| Compensation of current officers, directors, key employees. | $43,649 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $531,803 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $36,718 |
| Payroll taxes | $53,535 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $138,703 |
| Fees for services: Accounting | $43,812 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $883,688 |
| Advertising and promotion | $53,450 |
| Office expenses | $92,422 |
| Information technology | $94,047 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,288 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $22,536 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $26,017 |
| All other expenses | $0 |
| Total functional expenses | $5,647,560 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $7,948,039 |
| 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 | $65,451 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $24,786,484 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $32,799,974 |
| Accounts payable and accrued expenses | $1,678,837 |
| 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 | $1,678,837 |
| Net assets without donor restrictions | $30,185,057 |
| Net assets with donor restrictions | $936,080 |
| 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 | $32,799,974 |
Grants Awarded
Over the last fiscal year, Zcash Foundation has awarded $1,146,970 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Seattle, WA PURPOSE: Research & Development | $673,200 |
37 LAINES PURPOSE: Outreach | $243,270 |
INVISIBLE LIGHT NETWORK PURPOSE: Research & Development | $150,500 |
ALPHEGA SOLUTIONS LLC PURPOSE: Research & Development | $80,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association For Laboratory Accreditation Frederick, MD | $14,574,609 | $21,308,917 |
Heart Rhythm Society Inc Washington, DC | $14,704,509 | $17,863,726 |
North Carolina Advanced Energy Corporation Raleigh, NC | $9,515,286 | $8,839,166 |
Corn Refiners Association Inc Washington, DC | $10,439,497 | $7,705,832 |
Zcash Foundation McLean, VA | $32,799,974 | $26,447,593 |
Institute For Womens Policy Research Washington, DC | $17,100,726 | $10,106,680 |
University Of Maryland Psychiatry Associates P A Baltimore, MD | $10,617,628 | $4,863,213 |
West Virginia University Innovation Corporation Morgantown, WV | $2,905,835 | $5,942,099 |
Health And Environmental Sciences Institute Washington, DC | $8,376,390 | $5,052,599 |
Board Of Certification Accreditation International Owings Mills, MD | $5,575,495 | $5,362,772 |
National Caregiving Foundation Dunkirk, MD | $1,366,084 | $4,115,754 |
Appraisal Foundation Washington, DC | $12,806,075 | $4,033,745 |