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← UNITARY FUND

Form 990 for tax year 2023

Filed by UNITARY FUND.

Totals

Total revenue
$1,496,005
Total expenses
$1,383,885
Contributions and grants received
$1,495,193
Grants paid
$90,103
Program service revenue
$0
Investment income
$812
Other revenue
$0
Total assets, end of year
$665,810
Total liabilities, end of year
$206,763
Net assets or fund balances, end of year
$459,047
Program services expenses (Part IX)
$1,189,818
Management and general expenses
$129,379
Fundraising expenses
$64,688
Program service expenses (Part III)
$1,189,818

Program services were 86.0% 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.

  • 1e · Government grants (contributions)

    $273,006

  • 1f · All other contributions, gifts and grants

    $1,222,187

  • 3 · Investment income

    total $812 · excluded $812

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,000 · program services $4,000

  • 2 · Grants to domestic individuals

    total $41,034 · program services $41,034

  • 3 · Grants to foreign organizations and individuals

    total $45,069 · program services $45,069

  • 5 · Compensation of officers, directors and key employees

    total $328,580 · program services $279,293 · management and general $32,858 · fundraising $16,429

  • 7 · Other salaries and wages

    total $457,519 · program services $388,891 · management and general $45,752 · fundraising $22,876

  • 9 · Other employee benefits

    total $24,521 · program services $20,843 · management and general $2,452 · fundraising $1,226

  • 10 · Payroll taxes

    total $49,169 · program services $41,794 · management and general $4,917 · fundraising $2,458

  • 11b · Fees: legal

    total $285 · program services $242 · management and general $29 · fundraising $14

  • 11c · Fees: accounting

    total $26,197 · program services $22,267 · management and general $2,620 · fundraising $1,310

  • 11g · Fees: other

    total $202,260 · program services $171,921 · management and general $20,226 · fundraising $10,113

  • 12 · Advertising and promotion

    total $41,268 · program services $35,078 · management and general $4,127 · fundraising $2,063

  • 13 · Office expenses

    total $660 · program services $561 · management and general $66 · fundraising $33

  • 14 · Information technology

    total $14,842 · program services $12,616 · management and general $1,484 · fundraising $742

  • 16 · Occupancy

    total $1,803 · program services $1,533 · management and general $180 · fundraising $90

  • 17 · Travel

    total $75,259 · program services $63,970 · management and general $7,526 · fundraising $3,763

  • 19 · Conferences, conventions and meetings

    total $45,461 · program services $38,642 · management and general $4,546 · fundraising $2,273

  • 23 · Insurance

    total $6,281 · program services $5,339 · management and general $628 · fundraising $314

  • 24a · Other expenses: FEES

    total $4,337 · program services $3,686 · management and general $434 · fundraising $217

  • 24e · All other expenses

    total $15,340 · program services $13,039 · management and general $1,534 · fundraising $767

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $530,003 · end of year $496,166

  • 3 · Pledges and grants receivable

    end of year $161,747

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,410 · end of year $7,897

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,206 · end of year $23,483

  • 19 · Deferred revenue

    beginning of year $183,280 · end of year $183,280

  • 27 · Net assets without donor restrictions

    beginning of year $103,297 · end of year $322,900

  • 28 · Net assets with donor restrictions

    beginning of year $243,630 · end of year $136,147

Mission and programs · 2023

Mission

TO CREATE A QUANTUM TECHNOLOGY ECOSYSTEM THAT BENEFITS THE MOST PEOPLE. WE BELIEVE THAT EXPANDING THE POOL OF PEOPLE WORKING ON QUANTUM TECHNOLOGIES IS A WAY TO ENSURE THAT THE BENEFITS OF THESE TOOLS ARE WIDELY, SWIFTLY, AND EQUITABLY DISTRIBUTED.TODAY, WE PRIMARILY USE TWO MAJOR PROGRAMS TO PURSUE THIS MISSION. THROUGH UNITARY LABS WE WORK ON IN-HOUSE PROJECTS THAT HELP THE ECOSYSTEM AS A WHOLE. THROUGH OUR MICROGRANT PROGRAM, WE FUND AN INCLUSIVE COMMUNITY OF EXPLORERS ACROSS THE WORLD TO WORK ON QUANTUM TECHNOLOGIES.

Activities or mission (Part I)

CREATING A QUANTUM TECHNOLOGY ECOSYSTEM THAT BENEFITS MOST PEOPLE.

  • 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.

    Expenses $229,712 · Grants $90,103

  • 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.

    Expenses $395,599

  • UNITARY FUND DEVELOPED METRIQ, A FREE COMMUNITY PLATFORM TO BENCHMARK CURRENT QUANTUM COMPUTERS, AND TO SHARE THE LATEST RESEARCH ACHIEVEMENTS IN THE FIELD.

    Expenses $273,010

  • OTHER PROGRAM SERVICES INCLUDED Q4BIO, A NEW PROJECT STARTED IN 2023, AS WELL AS COMMUNITY PROGRAMS, WHICH COMPRISE OF SMALLER, MISSION ALIGNED PROGRAMS OCCURING THROUGHOUT THE YEAR.

    Expenses $291,497

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

Listed in Part VII

  • WILLIAM ZENG

    PRESIDENT

    Total calculated
    $161,423
    From this org
    $161,423
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

    Schedule J breakdown matched by us

    Base
    $161,423
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $161,423

  • NATHAN SHAMMAH

    CTO

    Total calculated
    $167,157
    From this org
    $167,157
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $167,157
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $167,157

  • TRAVIS SCHOLTEN

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • CHRISTOPHE JURCZAK

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • ANASTASIA GAMICK

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

  • ELIZABETH DURST

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    0

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

None.

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

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

No itemized grants to organizations on this return.

Provenance

Return type
form_990
Tax year
2023
Filed
4 November 2024
IRS schema version
2023v5.1
Source object
202433099349301563

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