Unitary Fund
- Assets
- $608.9k
- Revenue
- $1.0m
- Investments
- $0.0
- Employees
- 4
- Location
- San Francisco, CA
- Founding
- 08/2018
- Data as of
- 12/2021
- EIN
- 83-1592799
Organization Overview
Unitary Fund is located in San Francisco, CA. The organization was established in 2018. According to its NTEE Classification (U12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Science & Technology and related organizations. As of 12/2021, Unitary Fund employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Unitary Fund 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, Unitary Fund generated $1.0m in total revenue. All expenses for the organization totaled $723.1k during the year ending 12/2021.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
UNITARY FUND IS A 501(C)(3) NON-PROFIT WORKING TO CREATE A QUANTUM TECHNOLOGY ECOSYSTEM THAT BENEFITS MOST PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNITARY FUND AWARDS MICROGRANTS TO INDIVIDUALS & ORGANIZATIONS WHICH CONSISTED OF 20 TEAMS/29 INDIVIDUALS. UNITARY FUND ALSO SET UP AN ADVISORY BOARD OF 15 VOLUNTEERS WHO REVIEW MICROGRANT APPLICATIONS.
UNITARY FUND UNVEILED MITIQ, A QUANTUM SOFTWARE PACKAGE DEVELOPED AT UNITARY LABS. MITIQ IS AN OPEN SOURCE TOOLKIT THAT REDUCES ERRORS IN NOISY QUANTUM COMPUTERS. MITIQ IS THE FIRST QUANTUM ERROR MITIGATION TOOLKIT AND HAS ALREADY BEEN USED FOR TWO PUBLISHED RESEARCH PAPERS.
UNITARY FUND RELEASED A WHITE PAPER ON MITIQ ON THE AIRXIV. TO DATE, THIS PAPER HAS 4 CITATIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Zeng President | OfficerTrustee | 12 | $56,527 |
Nathan Shammah Cto | OfficerTrustee | 40 | $0 |
Travis Scholten Secretary | OfficerTrustee | 0 | $0 |
Christophe Jurczak Treasurer | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $297,830 |
| All other contributions, gifts, grants, and similar amounts not included above | $707,251 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,005,081 |
| Total Program Service Revenue | $0 |
| Investment income | $41 |
| 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 | $1,005,122 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,004 |
| Grants and other assistance to domestic individuals. | $14,376 |
| Grants and other assistance to Foreign Orgs/Individuals | $67,079 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $56,527 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $252,468 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,336 |
| Payroll taxes | $24,068 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,362 |
| Fees for services: Accounting | $12,553 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $257,921 |
| Advertising and promotion | $733 |
| Office expenses | $492 |
| Information technology | $18,903 |
| Royalties | $0 |
| Occupancy | $385 |
| Travel | $1,511 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,860 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,682 |
| All other expenses | $384 |
| Total functional expenses | $723,109 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $580,669 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $25,000 |
| 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 | $2,203 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,072 |
| Total assets | $608,944 |
| Accounts payable and accrued expenses | $10,263 |
| Grants payable | $0 |
| Deferred revenue | $183,280 |
| 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 | $193,543 |
| Net assets without donor restrictions | $166,765 |
| Net assets with donor restrictions | $248,636 |
| 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 | $608,944 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Unitary Fund has recieved totaling $75,000.
| Awarding Organization | Amount |
|---|---|
In-Q-Tel Inc Arlington, VA PURPOSE: SEE SUPPLEMENTAL SECTION FOR GRANT PURPOSE. | $75,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Space Grant Foundation Inc Albany, OR | $2,928,513 | $2,097,734 |
Vertuelab Portland, OR | $3,945,647 | $2,326,583 |
The National Academies Corporation Irvine, CA | $20,487,959 | $666,842 |
Perlan Project Inc Beaverton, OR | $1,278,425 | $1,310,788 |
Unitary Fund San Francisco, CA | $608,944 | $1,005,122 |
California Grape Rootstock Research Foundation Sacramento, CA | $1,990,350 | $369,642 |
Center For The Study Of Partisanship And Ideology Sierra Madre, CA | $676,619 | $24,000 |
Usrca Lafayette, CA | $53,783 | $117,540 |
Siebel Energy Institute Redwood City, CA | $0 | $0 |
Science Partnership Fund Pasadena, CA | $2,622 | $0 |
Bill Nye Science Foundation Los Angeles, CA | $224,364 | $0 |
Coptic Business Solutions Yorba Linda, CA | $0 | $0 |