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← INTERLEDGER FOUNDATION

Form 990 for tax year 2022

Filed by INTERLEDGER FOUNDATION.

Totals

Total revenue
$256,857
Total expenses
$4,609,235
Contributions and grants received
$250,000
Grants paid
$1,305,561
Program service revenue
$0
Investment income
$3,413
Other revenue
$3,444
Total assets, end of year
$75,537,366
Total liabilities, end of year
$287,931
Net assets or fund balances, end of year
$75,249,435
Program services expenses (Part IX)
$3,496,936
Management and general expenses
$998,524
Fundraising expenses
$113,775
Program service expenses (Part III)
$3,496,936

Program services were 75.9% 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.

  • 1f · All other contributions, gifts and grants

    $250,000

  • 3 · Investment income

    total $851,424 · excluded $851,424

  • 7a · Gross sales of assets other than inventory

    securities $89,572,167

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

    securities $90,420,178

  • 7c · Gain or loss

    securities -$848,011

  • 7d · Net gain or loss

    total -$848,011 · excluded -$848,011

  • 11a · Other revenue: MISCELLANEOUS

    total $4,092 · excluded $4,092

  • 11b · Other revenue: FOREIGN CURRENCY GAIN/LOSS

    total -$648 · excluded -$648

  • 11e · Other revenue, total

    $3,444

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $357,020 · program services $357,020

  • 2 · Grants to domestic individuals

    total $209,382 · program services $209,382

  • 3 · Grants to foreign organizations and individuals

    total $739,159 · program services $739,159

  • 5 · Compensation of officers, directors and key employees

    total $904,517 · program services $536,738 · management and general $322,754 · fundraising $45,025

  • 7 · Other salaries and wages

    total $366,286 · program services $280,582 · management and general $72,999 · fundraising $12,705

  • 9 · Other employee benefits

    total $150,779 · program services $108,370 · management and general $36,418 · fundraising $5,991

  • 10 · Payroll taxes

    total $46,663 · program services $30,385 · management and general $14,186 · fundraising $2,092

  • 11b · Fees: legal

    total $198,804 · program services $177,992 · management and general $20,812

  • 11c · Fees: accounting

    total $181,934 · management and general $181,934

  • 11f · Fees: investment management

    total $256,798 · management and general $256,798

  • 11g · Fees: other

    total $391,917 · program services $345,884 · management and general $10,033 · fundraising $36,000

  • 12 · Advertising and promotion

    total $155,508 · program services $155,508

  • 13 · Office expenses

    total $21,038 · program services $13,023 · management and general $7,119 · fundraising $896

  • 14 · Information technology

    total $52,329 · program services $34,075 · management and general $15,908 · fundraising $2,346

  • 17 · Travel

    total $167,168 · program services $108,855 · management and general $50,820 · fundraising $7,493

  • 19 · Conferences, conventions and meetings

    total $382,555 · program services $382,136 · management and general $419

  • 22 · Depreciation, depletion and amortization

    total $9,130 · program services $5,945 · management and general $2,776 · fundraising $409

  • 23 · Insurance

    total $18,248 · program services $11,882 · management and general $5,548 · fundraising $818

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,946,466 · end of year $84,768

  • 2 · Savings and temporary cash investments

    beginning of year $75,450,126 · end of year $2,151,802

  • 4 · Accounts receivable

    beginning of year $0 · end of year $75,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,599 · end of year $18,447

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

    $25,586

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

    $9,577

  • 10c · Land, buildings and equipment, net

    beginning of year $13,155 · end of year $16,009

  • 11 · Investments: publicly traded securities

    end of year $65,925,584

  • 12 · Investments: other securities

    beginning of year $24,170,773 · end of year $7,228,650

  • 15 · Other assets

    beginning of year $16,217 · end of year $37,106

  • 17 · Accounts payable and accrued expenses

    beginning of year $115,580 · end of year $287,931

  • 18 · Grants payable

    beginning of year $1,860,334 · end of year $0

  • 19 · Deferred revenue

    beginning of year $250,000 · end of year $0

  • 27 · Net assets without donor restrictions

    beginning of year $93,999,115 · end of year $75,249,435

  • 28 · Net assets with donor restrictions

    beginning of year $6,378,307 · end of year $0

Mission and programs · 2022

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 2022: IN OUR GRANT-MAKING, WE FUNDED 56 PROJECTS IN 24 COUNTRIES WHILE EXPANDING THE PROGRAM AREAS WE FUND. WE HELD A GLOBAL INTERLEDGER SUMMIT THAT BROUGHT TOGETHER DEVELOPERS, ACTIVISTS, AND ENTREPRENEURS TO BUILD ON THE MOMENTUM OF THE FOUNDATION. IN ADDITION, WE LED THE COMMUNITY, ECOSYSTEM, AND PARTNERS TOWARDS ADVANCING THE FUNCTIONALITY OF THE INTERLEDGER PROTOCOL. WE'VE DEVELOPED NEW SERVICES, TOOLS, AND RESOURCES FOR THE STANDARDS WE STEWARD: OPEN PAYMENTS AND WEB MONETIZATION.

    Expenses $3,496,936 · Grants $1,305,561

As filed on the 2022 return.

Listed in Part VII

  • Stefan Thomas

    CHAIRPERSON

    Total calculated
    $0
    Hours/week
    5
  • Evan Schwartz

    PRESIDENT

    Total calculated
    $0
    Hours/week
    10
  • 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
    $352,616
    From this org
    $325,000
    From related orgs
    $0
    Other
    $27,616
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $325,000
    Bonus
    $0
    Other
    $0
    Deferred
    $15,250
    Nontaxable benefits
    $12,366
    Filer's total
    $352,616
  • Gary Morris

    TREASURER AND SECRETARY

    Total calculated
    $0
    Hours/week
    10
  • Erika Drushka

    HEAD OF OPERATIONS

    Total calculated
    $195,260
    From this org
    $173,021
    From related orgs
    $0
    Other
    $22,239
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,021
    Bonus
    $0
    Other
    $0
    Deferred
    $17,037
    Nontaxable benefits
    $5,202
    Filer's total
    $195,260
  • Chris Lawrence

    HEAD OF PROGRAMS

    Total calculated
    $177,050
    From this org
    $167,500
    From related orgs
    $0
    Other
    $9,550
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $167,500
    Bonus
    $0
    Other
    $0
    Deferred
    $8,500
    Nontaxable benefits
    $1,050
    Filer's total
    $177,050
  • Alex Lakatos

    CTO

    Total calculated
    $179,592
    From this org
    $169,694
    From related orgs
    $0
    Other
    $9,898
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,694
    Bonus
    $0
    Other
    $0
    Deferred
    $8,233
    Nontaxable benefits
    $1,665
    Filer's total
    $179,592

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
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

  • MY WALLET GURU LLC

    $75,000

    GRANTS FOR INNOVATION IN OPEN PAYMENTS

  • DIVAO LLC

    $75,000

    GRANTS FOR INNOVATION IN OPEN PAYMENTS

  • GHOST IN THE MACHINE DBA SNAKE NATION

    $75,000

    GRANTS FOR INNOVATION IN OPEN PAYMENTS

  • GRANTS FOR INNOVATION IN OPEN PAYMENTS

  • BLACK WEB FESTIVAL INC

    $38,520

    GRANTS FOR INNOVATION IN OPEN PAYMENTS

  • GRANTS FOR INNOVATION IN OPEN PAYMENTS

  • METASEBIA YOSEPH

    $20,000

    GRANTS FOR INNOVATION IN OPEN PAYMENTS

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 · share of assets $471,000

    Directly controlled by INTERLEDGER FOUNDATION

Provenance

Return type
form_990
Tax year
2022
Filed
26 October 2023
IRS schema version
2022v5.0
Source object
202343049349300624

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