Form 990 for tax year 2022

Totals

Total revenue

$0

Total expenses

$3,475,763

Contributions and grants received

$0

Grants paid

$610,542

Program service revenue

$0

Investment income

$0

Other revenue

$0

Total assets, end of year

$8,723,243

Total liabilities, end of year

$350,505

Net assets or fund balances, end of year

$8,372,738

Program services expenses (Part IX)

$2,770,204

Management and general expenses

$686,161

Fundraising expenses

$19,398

Program service expenses (Part III)

$2,770,204

Program services were 79.7% 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.

Mission and programs · 2022

• Grants to Other Organizations: The DeFi Education Fund grants and releases funds over a pre-determined schedule which spans multiple years.please see schedule O for additional details.

  Expenses $783,326 · Grants $610,542

• Lobbying Activities: Continuing our efforts that began in later 2021, in 2022 the DeFi Education Fund continued its Congressional lobbying efforts, focusing on explaining not only how decentralized finance ("DeFi") works, but also the benefits that can be achieved with sensible regulatory frameworks and policy. In 2022, while our efforts primarily centered on educating policymakers about the novel technology, we also met with specific members of Congress and committees of jurisdiction to discuss the potential impact of key pieces of legislation that were being debated. please see schedule O for additional details.During these discussions, we walked through how a consumer accesses and interacts with DeFi front-ends and protocols, using these presentations to demonstrate how regulations could apply to DeFi as well as showcase how certain proposed regulatory frameworks could inhibit DeFi from functioning as it was envisioned.In 2022, we were able to continue to make aware to policymakers that DeFi functions in fundamentally different ways than its centralized counterparts and therefore, why it needs a tailored regulatory regime.

  Expenses $973,480

• Public Relations: Similar to 2021, our public relations efforts in 2022 focused on how to best explain decentralized finance ("DeFi") to policymakers, journalists and the general public. In 2022, we expanded our public relations efforts and hired a Communications Manager who was focused on continuing to build relationships with key stakeholders as well as how best to position the DeFi Education Fund as a subject matter expert in the field of DeFi policy. In 2022, we also expanded our thought-leadership work and participated in high-profile industry events as well as writing and securing op-ed placements in publications that reach not only the crypto community, but also those in the policy space. please see schedule O for additional details.In 2022, we were able to further relationships with, and contribute to articles in high-profile publications such as The Wall Street Journal, The New York Times, POLITICO, Fortune, Reuters, TIME and Business Insider.

  Expenses $447,315

• Policy Research: In 2021, we embarked on a project to analyze the Policy objectives of existing financial regulatory regimes in order to 1) understand the objectives of existing rules and regulations and 2) Determine the extent to which those objectives are inherently vindicated by the functionality of decentralized finance protocols. Separately, we also helped coordinate a group of DeFi users and enthusiasts to draft "principles" for developers and users of DeFi protocols. The intent of the draft principles is to begin laying the foundations for self-policing in DeFi, an issue that became more acute in 2022.

  Expenses $360,903

• Policy Litigation

  Expenses $205,180

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

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

• Fight for the Future Inc

  $375,876

  The grant will be used to support the organization's lobbying and grassroots campaign efforts around decentralized finance (DeFi). Fight for the Future will build in-house capacity through its existing team to engage on crypto and DeFi policy issues.

• Cato Institute

  $125,000

  The grant will be used to support a fellow program at Cato's Center for Monetaryand Financial Alternatives focused on decentralized finance (DeFi) with the goal of building a new generation of researchers focused on DeFi by giving individuals the opportunity to study the space.

• Mercatus Center Inc

  $62,500

  The grant will be used to support a fellowship program focused on decentralized finance (DeFi) with the goal of building the first generation of researchers focused on DeFi and studying the policy implications of DeFi.

• The Woodrow Wilson International Center for Scholars

  $31,250

  The grant will be used to support the Wilson Center as they host a fellow to work on decentralized finance (DeFi) related projects.

• Kamal Hubbard (Cards Coins & Comix LLC)

  $9,416

  The grant will be used to support an advocacy and educational tour throughout the U.S. to engage with lawmakers, school officials, and STEM focused nonprofits that serve black populations to inform them on what decentralized finance (DeFi) is and why it has the ability to bring greater financial equity to a community that has been historically shut out of the legacy financial system.

Provenance

Return type

form_990

Tax year

2022

Filed

30 October 2023

IRS schema version

2022v5.0

Source object

202323069349301312

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