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Nonprofiteer
← INTERLEDGER FOUNDATION

Form 990 for tax year 2023

Filed by INTERLEDGER FOUNDATION.

Totals

Total revenue
-$92,551
Total expenses
$8,748,400
Contributions and grants received
$0
Grants paid
$2,273,401
Program service revenue
$0
Investment income
-$116,747
Other revenue
$24,196
Total assets, end of year
$82,655,890
Total liabilities, end of year
$1,476,621
Net assets or fund balances, end of year
$81,179,269
Program services expenses (Part IX)
$6,580,070
Management and general expenses
$2,011,901
Fundraising expenses
$156,429
Program service expenses (Part III)
$6,580,070

Program services were 75.2% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 3 · Investment income

    total $1,118,398 · excluded $1,118,398

  • 7a · Gross sales of assets other than inventory

    securities $26,476,075

  • 7b · Less cost or other basis and sales expenses

    securities $27,711,220

  • 7c · Gain or loss

    securities -$1,235,145

  • 7d · Net gain or loss

    total -$1,235,145 · excluded -$1,235,145

  • 11a · Other revenue: MISCELLANEOUS

    total $24,196 · excluded $24,196

  • 11e · Other revenue, total

    $24,196

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $400,000 · program services $400,000

  • 2 · Grants to domestic individuals

    total $206,000 · program services $206,000

  • 3 · Grants to foreign organizations and individuals

    total $1,667,401 · program services $1,667,401

  • 5 · Compensation of officers, directors and key employees

    total $1,029,824 · program services $673,896 · management and general $309,014 · fundraising $46,914

  • 7 · Other salaries and wages

    total $1,678,670 · program services $1,199,834 · management and general $426,980 · fundraising $51,856

  • 8 · Pension plan contributions

    total $51,004 · program services $37,405 · management and general $12,304 · fundraising $1,295

  • 9 · Other employee benefits

    total $191,777 · program services $135,478 · management and general $49,728 · fundraising $6,571

  • 10 · Payroll taxes

    total $205,162 · program services $142,273 · management and general $55,476 · fundraising $7,413

  • 11b · Fees: legal

    total $217,712 · management and general $217,712

  • 11c · Fees: accounting

    total $228,593 · management and general $228,593

  • 11f · Fees: investment management

    total $330,545 · management and general $330,545

  • 11g · Fees: other

    total $1,203,248 · program services $1,028,773 · management and general $140,510 · fundraising $33,965

  • 12 · Advertising and promotion

    total $41,427 · program services $28,728 · management and general $11,202 · fundraising $1,497

  • 13 · Office expenses

    total $49,597 · program services $31,453 · management and general $16,505 · fundraising $1,639

  • 14 · Information technology

    total $88,191 · program services $61,158 · management and general $23,846 · fundraising $3,187

  • 17 · Travel

    total $684,195 · program services $539,634 · management and general $144,561

  • 19 · Conferences, conventions and meetings

    total $394,923 · program services $387,881 · management and general $7,042

  • 22 · Depreciation, depletion and amortization

    total $57,905 · program services $40,156 · management and general $15,657 · fundraising $2,092

  • 24a · Other expenses: LOSS ON TRANSLATION

    total $22,226 · management and general $22,226

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $84,768

  • 2 · Savings and temporary cash investments

    beginning of year $2,151,802 · end of year $3,211,715

  • 4 · Accounts receivable

    beginning of year $75,000 · end of year $11,804

  • 9 · Prepaid expenses and deferred charges

    beginning of year $18,447 · end of year $83,994

  • 10a · Land, buildings and equipment: cost or other basis

    $93,644

  • 10b · Land, buildings and equipment: accumulated depreciation

    $26,848

  • 10c · Land, buildings and equipment, net

    beginning of year $16,009 · end of year $66,796

  • 11 · Investments: publicly traded securities

    beginning of year $65,925,584 · end of year $68,320,505

  • 12 · Investments: other securities

    beginning of year $7,228,650 · end of year $10,845,473

  • 15 · Other assets

    beginning of year $37,106 · end of year $115,603

  • 17 · Accounts payable and accrued expenses

    beginning of year $287,931 · end of year $1,476,621

  • 27 · Net assets without donor restrictions

    beginning of year $75,249,435 · end of year $81,179,269

Mission and programs · 2023

Mission

THE INTERLEDGER FOUNDATION IS A NONPROFIT ADVOCATE FOR THE WEB, PROMOTING INNOVATION, CREATIVITY, AND INCLUSION BY ADVANCING OPEN PAYMENT STANDARDS AND TECHNOLOGIES THAT SEAMLESSLY CONNECT OUR GLOBAL SOCIETY.

  • INTERLEDGER WORKS TO BROADEN THE DIVERSITY OF VOICES IN THE TECH ECOSYSTEM BY USING THE INTERLEDGER PROTOCOL (ILP) TO POWER A CURRENCY-AGNOSTIC PAYMENTS NETWORK AS A DRIVER FOR DIGITAL FINANCIAL INCLUSION. INTERLEDGER HAD THE FOLLOWING ACCOMPLISHMENTS IN 2023: IN OUR GRANT-MAKING, WE AWARDED A TOTAL OF USD947,000 WORTH OF GRANTS TO 16 GRANTEES ACROSS 9 COUNTRIES. WE HELD A GLOBAL INTERLEDGER SUMMIT THAT BROUGHT TOGETHER DEVELOPERS, ACTIVISTS, AND ENTREPRENEURS TO BUILD ON THE MOMENTUM OF THE FOUNDATION. IN ADDITION, WE MANAGED TO RAISE THE PROFILE OF INTERLEDGER GLOBALLY, RECEIVING COVERAGE IN 70 MEDIA OUTLETS INCLUDING TOP-TIER FINANCIAL AND TECH MEDIA TO DATE, REACHING 10 MILLION MEDIA IMPRESSIONS. WE ADVANCED OUR OPEN PAYMENTS AND WEB MONETIZATION PRODUCTS, AND EXPANDED THE NETWORK TO 3 NODES RUNNING INTERLEDGER AND OPEN PAYMENTS, AND EXPANDED OUR COMMUNITY EFFORTS. OUR TECHNICAL DOCUMENTATION HAD IMPROVED ACROSS THE BOARD, AND WE STARTED WORKING TOWARDS CREATING THE FIRST INTERLEDGER CARD OFFERING.

    Expenses $6,580,070 · Grants $2,273,401

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Stefan Thomas

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    5

  • Evan Schwartz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Maha Bahou

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Chris Larsen

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Konstantin Peric

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Briana Marbury

    PRESIDENT & CEO

    Total calculated
    $374,906
    From this org
    $343,319
    From related orgs
    $0
    Other
    $31,587
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $343,319
    Bonus
    $0
    Other
    $0
    Deferred
    $16,500
    Nontaxable benefits
    $15,087
    Filer's total
    $374,906

  • Chris Lawrence

    HEAD OF PROGRAMS

    Total calculated
    $188,475
    From this org
    $178,500
    From related orgs
    $0
    Other
    $9,975
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $178,500
    Bonus
    $0
    Other
    $0
    Deferred
    $8,925
    Nontaxable benefits
    $1,050
    Filer's total
    $188,475

  • Alex Lakatos

    CTO

    Total calculated
    $282,869
    From this org
    $268,436
    From related orgs
    $0
    Other
    $14,433
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $268,436
    Bonus
    $0
    Other
    $0
    Deferred
    $13,050
    Nontaxable benefits
    $1,383
    Filer's total
    $282,869

  • Ginny Barahona

    DIRECTOR OF STRATEGY

    Total calculated
    $183,574
    From this org
    $163,405
    From related orgs
    $0
    Other
    $20,169
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,405
    Bonus
    $0
    Other
    $0
    Deferred
    $4,375
    Nontaxable benefits
    $15,794
    Filer's total
    $183,574

  • Erika Drushka

    HEAD OF OPERATIONS

    Total calculated
    $110,455
    From this org
    $100,725
    From related orgs
    $0
    Other
    $9,730
    Hours/week
    40

  • Mark Birmingham

    COO

    Total calculated
    $155,994
    From this org
    $145,155
    From related orgs
    $0
    Other
    $10,839
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,155
    Bonus
    $0
    Other
    $0
    Deferred
    $1,146
    Nontaxable benefits
    $9,693
    Filer's total
    $155,994

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
PER POLICY, BUSINESS CLASS TRAVEL IS PROVIDED TO OFFICERS ON FLIGHTS OVER 5 HOURS. PAYMENTS ARE MADE VIA INTERLEDGER FOUNDATION'S CARD WITH SUPPORTING RECEIPTS.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • RIPPLE LUXEMBOURG SA

    LU · 100% owned

    Directly controlled by INTERLEDGER FOUNDATION

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202413209349320681

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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