Civic Intelligence

Blockchain Institute

990 • Fiscal year 2020 • EIN 82-4193542

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 15, 2021

Organization Profiletheblockchaininstitute.org/team
4649 N Broadway AveChicago, IL 60640

(312) 608-1494

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.73x

Higher debt load relative to assets than 91% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Liabilities / Revenue

87th percentile

0.32x

Higher debt load relative to revenue than 87% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Net Margin

13th percentile

-48%

Higher net margin than 13% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Top Officer Pay

78th percentile

$3,250

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2020 filings • 501(c)3 • <$500k nonprofits • Source year 2020

Asset Growth

16th percentile

-27%

Faster asset growth than 16% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Revenue Growth

64th percentile

-0.0%

Faster revenue growth than 64% of similar nonprofits.

2020 filings • 501(c)3 • <$500k nonprofits • Annualized from 2019 to 2020

Balance Sheet
Liabilities / Assets91st percentile

Assets

Down

$110,343

Down $40,406 (-27%) from 2019

Net Assets

Down

$29,274

Down $121,405 (-81%) from 2019

Liabilities

Up

$81,069

Up $80,999 (+115713%) from 2019

Revenue And Expenses
Liabilities / Revenue87th percentileNet Margin13th percentile

Revenue

Down

$249,973

Down $30 (-0.0%) from 2019

Expenses

Down

$371,173

Down $178,550 (-32%) from 2019

Net Income

Up

-$121,200

Up $178,520 (+60%) from 2019

Historical Trend

Balance Sheet Trend

Asset Growth16th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$600K$400K$200K$0-$200KAssets 2018: $450,748Liabilities 2018: $0Net Assets 2018: $450,7482018Assets 2019: $150,749Liabilities 2019: $70Net Assets 2019: $150,6792019Assets 2020: $110,343Liabilities 2020: $81,069Net Assets 2020: $29,2742020Assets 2021: $0Liabilities 2021: $81,069Net Assets 2021: -$81,0692021

Highlighted filing

2020

Assets$110,343
Liabilities$81,069
Net Assets$29,274
Open 2020 Filing

Operations Trend

Revenue Growth64th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KRevenue 2018: $755,045Expenses 2018: $304,297Net Income 2018: $450,7482018Revenue 2019: $250,003Expenses 2019: $549,723Net Income 2019: -$299,7202019Revenue 2020: $249,973Expenses 2020: $371,173Net Income 2020: -$121,2002020Revenue 2021: $71,789Expenses 2021: $182,365Net Income 2021: -$110,5762021

Highlighted filing

2020

Revenue$249,973
Expenses$371,173
Net Income-$121,200
Open 2020 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 15, 2021
Return Version
2020v4.0
Gross Receipts
$252,614
Mission and Program Overview

Mission

The Institute is an Illinois not for profit corporation. The Institute is organized and operated exclusively for educational and charitable purposes within the meaning of section 501(c)(3) of the Code. Specifically, the mission of the Institute is to create educational materials and courses as well as host and sponsor public events to educate the public on the use, development and adoption of blockchain technology. Blockchain is a series of records, each containing information, that are linked securely using cryptography. It has been described as an open, distributed ledger that can record transactions between two parties efficiently and in a verifiable and permanent way. A blockchain may be available to the public or it may be available to a specified set of users.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$147,744$110,343▼ $37,401
Land, Buildings, and Equipment, Net$2,729$0▼ $2,729
Prepaid Expenses and Deferred Charges$233$0▼ $233
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Total Assets$150,749$110,343▼ $40,406
Other Assets Total$43$0▼ $43
Liabilities
Other Liabilities-$81,069-
Accounts Payable and Accrued Expenses$70--
Total Liabilities$70$81,069▲ $80,999
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$150,679$29,274▼ $121,405
Total Net Assets Fund Balance$150,679$29,274▼ $121,405
Total Liabilities and Net Assets / Fund Balance$150,749$110,343▼ $40,406
Compensation and Service Providers
Top Officer Pay78th percentile

Employees

NameTitleBaseTotal
Hannah RosenbergDirector$3,250$3,250

Board Members and Trustees

NameTitle
Andrew GordonDirector
Jason Kin Hoi FangDirector
Taylor GerringDirector
Revenue and Support

Revenue Composition

Contributions and Grants
$250,054
Program Service Revenue
$0
Investment Income
$-81
Other Revenue
$0
All Other Contributions
$250,054
Change in Net Assets
$-121,200
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$283,814
Other Expenses$87,359
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$258,368--$258,368
Insurance$31,791--$31,791
Payroll Taxes$22,196--$22,196
Advertising$15,252--$15,252
Occupancy$12,735--$12,735
Fees for Services Legal$11,814--$11,814
Current Officers, Directors, Trustees, and Key Employees$3,250--$3,250
Fees for Services Other$1,808--$1,808
Other Expenses$906--$906
All Other Expenses$690--$690
Depreciation Depletion$88--$88
Total Functional Expenses$371,173$0$0$371,173
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Loan$81,069
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et

“The Institute has a business relationship with Gordon Law Group, Ltd., a law firm owned by Andrew Gordon, a director of the Institute. The Institute has a business relationship with BOB Community Chicago LLC, an Illinois limited liability company, owned by Hannah Rosenberg, a director of the Institute. The Institute has a business relationship with Tag Capital, LLC, an Illinois limited liability company, owned by Taylor Gerring, a director of the Institute.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Blockchain Institute
EIN
82-4193542
Phone
3126081494
Address
4649 N Broadway Ave, Chicago, IL 60640

Signing Officer

Name
Taylor Gerring
Title
Executive Director
Signed
2021-10-15
Discuss with paid preparer
Yes

Organization Details

Formed
2017
Legal Domicile
Il
Voting Board Members
4
Independent Board Members
0
Employees
6

Preparer

Firm
Gordon Law Group Ltd
Address
400 CENTRAL AVE STE 340, NORTHFIELD, IL 60093
Preparer
Michael Raff
Phone
8475801279
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1No review was or will be conducted.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Line 19: Other Organization Documents Publicly Available
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2020 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$110,343
Liabilities
$81,069
Net assets
$29,274
Revenue
$249,973
Expenses
$371,173
Net income
-$121,200
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2021Detailed filing. Detailed filing data is available for this year.$0.00$0.81$0.81$0.72$1.82$1.11
2020Detailed filing. Detailed filing data is available for this year.$1.10$0.81$0.29$2.50$3.71$1.21
2019Detailed filing. Detailed filing data is available for this year.$1.51$0.00$1.51$2.50$5.50$3.00
2018Summary only. Only limited summary data is available for this year.$4.51$0.00$4.51$7.55$3.04$4.51