Civic Intelligence

Unchain Foundation Inc

EIN 82-5015251 • 501(c)3 • stamford, CT

Profile

Our mission is to enlighten the world to the truth of modern-day slavery and inspire people everywhere to break its invisible chains.

263 Tresser Blvd Suite 1400stamford, CT 06901

unchain.org

Siviq Scores

Scores are not available for this record yet.

Balance Sheet

Assets

Down

$0

Down $2,580,843 (-100%) from 2018

Liabilities

Down

$0

Down $6,500 (-100%) from 2018

Net Assets

Down

$0

Down $2,574,343 (-100%) from 2018

Operations

Revenue

Down

-$19,473

Down $2,600,316 (-101%) from 2018

Expenses

Up

$3,453,049

Up $3,446,549 (+53024%) from 2018

Net Income

Down

-$3,472,522

Down $6,046,865 (-235%) from 2018

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2018: $2,580,843Liabilities 2018: $6,500Net Assets 2018: $2,574,3432018Assets 2019: $0Liabilities 2019: $0Net Assets 2019: $02019

Highlighted filing

2019

Assets$0
Liabilities$0
Net Assets$0

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$4.0M$2.0M$0-$2.0M-$4.0MRevenue 2018: $2,580,843Expenses 2018: $6,500Net Income 2018: $2,574,3432018Revenue 2019: -$19,473Expenses 2019: $3,453,049Net Income 2019: -$3,472,5222019

Highlighted filing

2019

Revenue-$19,473
Expenses$3,453,049
Net Income-$3,472,522

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 11, 2020
Return Version
2019v5.1
Gross Receipts
$10,527
Mission and Program Overview

Mission

Our mission is to enlighten the world to the truth of modern-day slavery and inspire people everywhere to break its invisible chains.

Program Services

DescriptionGrantsExpenses
Unchain Foundation, Inc. ceased its business operations and dissolved in 2019. The Unchain campaign to combat human trafficking and gender-based violence will be carried on by another Section 501(c)(3) tax-exempt organization, the Grace Farms Foundation as part of its Justice Initiative.$3,361,155$3,361,155
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Krishna PatelPresidentPT$0--
Sharon PrinceTreasurer-$0--
Richard SchechterSecretary-$0--
Carl HartmanDirector-$0--
Carl PrellerDirector-$0--
Paul WilliamsonDirector-$0--
Mohammed AmersiDirector-$0--
Governance and Compliance

Governance Explanations

Form 990, Part VI, Line 11A

The Foundation commenced operations in 2018 and had very limited activity. The Form 990 was prepared by an independent accounting firm in conjunction with the Foundation's financial team. The Form 990 was distributed to the full Board of Directors for comment and filed with the Internal revenue Service after approval by the Board. Form 990, Part VI, Line 12 The Foundation implemented a conflicts of interest policy as part of its initial set-up of the organization. The conflicts of interest policy requires the Foundation's officers and trustees to disclose any potential conflicts with the organization. To the extent a conflict presents itself, the officer or trustee is required to disclose such conflict in the Annual Board question which is reviewed by the full Board of Directors. The Foundation anticipates implementing a more extensive review policy as the organization grows and develops. Form 990, Part VI, Line 19 The Foundation makes its Form 990 available to the public at its place of business and on the internet at www.guidestar.org. The Foundation's organizing documents and financial statements are available to the public at management's discretion.

Filing and Contact Details

Filer

Filer Name
Unchain Foundation Inc
EIN
82-5015251
In Care Of
% SHARON PRINCE
Phone
2039054500
Address
263 Tresser Blvd Suite 1400, stamford, CT 06901

Signing Officer

Name
Sharon Prince
Title
Treasurer
Phone
2039054500
Signed
2020-11-11
Discuss with paid preparer
Yes

Preparer

Firm
Grant Thornton Llp
Address
757 THIRD AVENUE 3RD FLOOR, NEW YORK, NY 10017-2013
Preparer
Scott Thompsett
Phone
2125990100
Supplemental Narrative

Additional Explanations

Form 990EZ Part I Line 10

DONEES NAME:GRACE FARMS FOUNDATION INC DONEES ADDRESS:P.O. BOX 876 NEW CANAAN, CT 06840-0876 PURPOSE OF PAYMENT:Final distribution of Unchains assets to support AMOUNT:3361155

Form 990EZ Part I Line 16

Description:EQUIPMENT EXPENSE Amount:12751

Form 990EZ Part I Line 16

Description:INSURANCE EXPENSE Amount:4398

Form 990EZ Part I Line 16

Description:FILING FEES Amount:391

Form 990EZ Part I Line 20

Description:PRIOR PERIOD ADJUSTMENT Amount:898179

Form 990EZ Part II Line 24

Description:INTANGIBLE ASSETS BOY Amount:2550843 EOY Amount:

Form 990EZ Part II Line 24

Description:ARTWORK BOY Amount:30000 EOY Amount:

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IRS990ScheduleN/SupplementalInformationDetail/ExplanationTxt0Unchain Foundation, Inc. ceased its business operations and dissolved in 2019. Unchain distributed its remaining assets to the Grace Farms Foundation, Inc., a Section 501(c)(3) tax-exempt organization.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The Foundation commenced operations in 2018 and had very limited activity. The Form 990 was prepared by an independent accounting firm in conjunction with the Foundation's financial team. The Form 990 was distributed to the full Board of Directors for comment and filed with the Internal revenue Service after approval by the Board. Form 990, Part VI, Line 12 The Foundation implemented a conflicts of interest policy as part of its initial set-up of the organization. The conflicts of interest policy requires the Foundation's officers and trustees to disclose any potential conflicts with the organization. To the extent a conflict presents itself, the officer or trustee is required to disclose such conflict in the Annual Board question which is reviewed by the full Board of Directors. The Foundation anticipates implementing a more extensive review policy as the organization grows and develops. Form 990, Part VI, Line 19 The Foundation makes its Form 990 available to the public at its place of business and on the internet at www.guidestar.org. The Foundation's organizing documents and financial statements are available to the public at management's discretion.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DONEES NAME:GRACE FARMS FOUNDATION INC DONEES ADDRESS:P.O. BOX 876 NEW CANAAN, CT 06840-0876 PURPOSE OF PAYMENT:Final distribution of Unchains assets to support AMOUNT:3361155
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