Unitary Fund
- Assets
- $536.4k
- Revenue
- $835.2k
- Investments
- $0.0
- Employees
- 7
- Location
- San Francisco, CA
- Founding
- 08/2018
- Data as of
- 12/2022
- 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 12/2022, Unitary Fund employed 7 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 12/2022, Unitary Fund generated $835.2k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 71.8% each year . All expenses for the organization totaled $903.7k during the year ending 12/2022. 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
CREATING A QUANTUM TECHNOLOGY ECOSYSTEM THAT BENEFITS MOST PEOPLE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UNITARY FUND AWARDED MICROGRANTS TO INDIVIDUALS & ORGANIZATIONS CONSISTING OF APPROXIMATELY 20 TEAMS/INDIVIDUALS PER YEAR. THE GRANT APPLICATIONS ARE REVIEWED BY AN OUTSIDE ADVISORY BOARD CONSISTING OF 15 VOLUNTEERS.
UNITARY FUND DEVELOPED MITIQ, AN OPEN SOURCE QUANTUM TOOLKIT TO MITIGATE ERRORS ON CURRENT NOISY QUANTUM COMPUTERS. MITIQ IS THE FIRST TOOLKIT OF ITS KIND AND HAS BEEN CITED NUMEROUS TIMES IN ACADEMIC RESEARCH PAPERS.
UNITARY FUND UNVEILED METRIQ, A FREE COMMUNITY PLATFORM TO BENCHMARK CURRENT QUANTUM COMPUTERS, AND TO SHARE THE LATEST RESEARCH ACHIEVEMENTS IN THE FIELD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Zeng President | OfficerTrustee | 12 | $54,000 |
Nathan Shammah Cto | OfficerTrustee | 40 | $162,502 |
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 | $273,963 |
| All other contributions, gifts, grants, and similar amounts not included above | $561,201 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $835,164 |
| Total Program Service Revenue | $0 |
| Investment income | $47 |
| 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 | $835,211 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $500 |
| Grants and other assistance to domestic individuals. | $31,528 |
| Grants and other assistance to Foreign Orgs/Individuals | $31,786 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $216,502 |
| Compensation of current officers, directors, key employees. | $19,485 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $314,202 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $8,177 |
| Payroll taxes | $28,484 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $15,062 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $145,301 |
| Advertising and promotion | $36,469 |
| Office expenses | $1,234 |
| Information technology | $9,797 |
| Royalties | $0 |
| Occupancy | $3,374 |
| Travel | $29,926 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,203 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,509 |
| All other expenses | $16,011 |
| Total functional expenses | $903,685 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $530,003 |
| Savings and temporary cash investments | $0 |
| 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 | $6,410 |
| 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 | $536,413 |
| Accounts payable and accrued expenses | $6,206 |
| 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 | $189,486 |
| Net assets without donor restrictions | $103,297 |
| Net assets with donor restrictions | $243,630 |
| 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 | $536,413 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Space Grant Foundation Inc Albany, OR | $3,342,032 | $3,614,257 |
Vertuelab Portland, OR | $6,880,373 | $2,827,087 |
The National Academies Corporation Irvine, CA | $17,957,983 | $281,213 |
Unitary Fund San Francisco, CA | $536,413 | $835,211 |
Perlan Project Inc Beaverton, OR | $1,489,134 | $860,423 |
Center For The Study Of Partisanship And Ideology Sierra Madre, CA | $558,482 | $187,842 |
California Grape Rootstock Research Foundation Sacramento, CA | $2,162,322 | $245,605 |
Siebel Energy Institute Redwood City, CA | $0 | $0 |
Usrca Lafayette, CA | $12,961 | $41,653 |
Bill Nye Science Foundation Los Angeles, CA | $248,526 | $0 |
Schefsky Foundation San Francisco, CA | $123,241 | $130 |
Coptic Business Solutions Yorba Linda, CA | $0 | $0 |