Sequoia Project
- Assets
- $3.3m
- Revenue
- $7.2m
- Investments
- $0.0
- Employees
- 26
- Location
- Vienna, VA
- Founding
- Data as of
- 12/2022
- EIN
- 83-1938925
Organization Overview
Sequoia Project is located in Vienna, VA. According to its NTEE Classification (E05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Health Care and related organizations. As of 12/2022, Sequoia Project employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sequoia Project 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, Sequoia Project generated $7.2m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 13.5% each year . All expenses for the organization totaled $6.9m during the year ending 12/2022. While expenses have increased by 10.5% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O FOR DETAIL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL FEES AND DUES, NETWORK AND PRODUCT TESTING AND CONFERENCES - THE ORGANIZATION SERVES ITS MEMBERS THROUGH THE DEVELOPMENT, SHARING AND ASSISTANCE WITH IMPLEMENTATION OF PRACTICAL SOLUTIONS TO HEALTH DATA EXCHANGE CHALLENGES.
US GOVERNMENT GRANTS - DURING 2022, THE ORGANIZATION WAS AWARDED A GRANT BY THE US DEPT OF HEALTH AND HUMAN SERVICES (HHS) TO SERVE AS THE RECOGNIZED COORDINATING ENTITY (RCE) AND HELP DEVELOP THE TRUSTED EXCHANGE FRAMEWORK AND COMMON AGREEMENT TO SUPPORT NATIONWIDE EXCHANGE OF HEALTH INFORMATION.
MANAGED SERVICE INCOME - THE ORGANIZATION PROVIDES PROGRAM AND GENERAL MANAGEMENT SERVICES TO OTHER NON-PROFIT ORGANIZATIONS WHO SHARE THE MISSION OF THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Hodgkins Chair | OfficerTrustee | 1 | $0 |
David Horrocks Board Member, Vice Chair | OfficerTrustee | 1 | $0 |
Brian Barrett Board Member | Trustee | 1 | $0 |
Lee Barrett Board Member, Secretary | OfficerTrustee | 1 | $0 |
Nancy Beavin Board Member | Trustee | 1 | $0 |
Rita Bowen Board Member, Treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Spire Communications Marketing Consultation | 12/30/22 | $379,404 |
Troutman Pepper Hamilton Legal Services | 12/30/22 | $359,085 |
Gravely Group Legal Services | 12/30/22 | $238,332 |
Lantana Consulting Group It Consulting | 12/30/22 | $236,808 |
Directtrust It Security Consulting | 12/30/22 | $154,140 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $7,167,313 |
| Investment income | $5,214 |
| 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 | $7,240,347 |
| 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. | $1,779,196 |
| Compensation of current officers, directors, key employees. | $470,082 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,317,700 |
| Pension plan accruals and contributions | $83,466 |
| Other employee benefits | $305,640 |
| Payroll taxes | $249,288 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $71,955 |
| Fees for services: Accounting | $24,508 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,327,298 |
| Advertising and promotion | $262,287 |
| Office expenses | $28,246 |
| Information technology | $281,756 |
| Royalties | $0 |
| Occupancy | $5,688 |
| Travel | $50,237 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $79,428 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $39,386 |
| All other expenses | $0 |
| Total functional expenses | $6,910,754 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,730,936 |
| Savings and temporary cash investments | $407,815 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $375,791 |
| 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 | $27,415 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $787,715 |
| Total assets | $3,329,672 |
| Accounts payable and accrued expenses | $647,885 |
| Grants payable | $0 |
| Deferred revenue | $477,511 |
| 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 | $122,769 |
| Total liabilities | $1,248,165 |
| Net assets without donor restrictions | $2,081,507 |
| 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 | $3,329,672 |