Digital Dollar Project Inc
- Assets
- $110.9k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Alexandria, VA
- Founding
- Data as of
- 12/2023
- EIN
- 87-1472164
Organization Overview
Digital Dollar Project Inc is located in Alexandria, VA. According to its NTEE Classification (U05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Digital Dollar Project Inc 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 12/2023, Digital Dollar Project Inc generated $1.1m in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE DIGITAL DOLLAR PROJECT IS A NOT-FOR-PROFIT FOCUSED ON RESEARCH AND DISCUSSION REGARDING THE ROLE OF AND IMPACT TO THE US DOLLAR IN DIGITAL CURRENCY NETWORK. THE PURPOSE OF THE PROJECT IS TO ENCOURAGE RESEARCH AND PUBLIC DISCUSSION ON THE POTENTIAL ADVANTAGES OF A DIGITAL DOLLAR, CONVENE PRIVATE SECTOR THOUGHT LEADERS AND ACTORS, AND PROPOSE POSSIBLE MODELS TO SUPPORT THE PUBLIC SECTOR. THE PROJECT WILL MODERATE PROGAMS WITH INTERESTED STAKEHOLDERS TO MEASURE THE VALUE OF AND ESTABLISH PRACTICAL STEPS THAT CAN BE TAKEN TO ESTABLISH A DIGITAL DOLLAR. THE DDP'S BOARD ARE RENOWNED INDUSTRY EXPERTS AND BLOCKCHAIN ADVOCATES WHO HAVE BEEN LEADING GLOBAL DISCOURSE ON CRYPTOCURRENCIES AND DIGITAL ASSETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ORGANIZING US CBDC EXPERIMENTATION THROUGH THE DIGITAL DOLLAR PROJECT'S PILOT PROGRAM. RESULTS OF WHICH WILL BE PUBLISHED AND OPEN DATA SHARED FOR CONSIDERATION BY POLICY-MAKERS, ACADEMICS AND RESEARCHERS, THE FEDERAL RESERVE SYSTEM. AND THE GENERAL PUBLIC.
EDUCATING CONGRESS, THE EXECUTIVE OFFICE, THE FEDERAL RESERVE SYSTEM, AND POLICY-MAKERS ON CBDC DESIGN CHOICES AND POTENTIAL APPLICATIONS AND BRIEFING FINANCIAL REGULATORS AND PRIVATE SECTOR LEADERSHIP ON VARIOUS USE CASES AND THE DIGITAL CURRENCY ECOSYSTEM.
PUBLISHING WHITE PAPERS AND RESEARCH ON US CBDC, AS WELL AS RESPONSES TO THE FEDERAL RESERVE BOARD POLICY DISCUSSION PAPER, THE WHITE HOUSE EXECUTIVE ORDER ON RESPONSIBLE INNOVATION, AND RELEVANT SENATE AND HOUSE COMMITTEE HEARINGS. CONVENING PUBLIC SESSIONS (I.E. DEBATES, DISCUSSIONS, INTERVIEWS) ON US CBDC AND RELATED MATTERS INCLUDING NATIONAL SECURITY, FINANCIAL INCLUSION, AND PRIVACY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
J Christopher Giancarlo Chairman | OfficerTrustee | 5 | $0 |
Charles Giancarlo Director | Trustee | 1 | $0 |
Daniel Gorfine Treasurer | OfficerTrustee | 1 | $0 |
David Treat Director | Trustee | 1 | $0 |
Elizabeth Gray Director | Trustee | 1 | $0 |
Jennifer Lassiter Executive Director | Officer | 40 | $440,000 |
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 | $1,125,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,125,000 |
| Total Program Service Revenue | $0 |
| Investment income | $3 |
| 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 | $1,125,003 |
| 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. | $440,000 |
| Compensation of current officers, directors, key employees. | $88,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $287,841 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $11,505 |
| Payroll taxes | $38,869 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,353 |
| Fees for services: Accounting | $32,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $27,827 |
| Advertising and promotion | $67,534 |
| Office expenses | $4,366 |
| Information technology | $7,486 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $69,045 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $8,379 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $12,527 |
| All other expenses | $0 |
| Total functional expenses | $1,363,204 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $83,815 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,000 |
| 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 | $7,116 |
| 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 | $110,931 |
| Accounts payable and accrued expenses | $5,057 |
| 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 | $5,057 |
| Net assets without donor restrictions | $105,874 |
| 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 | $110,931 |