Civic Intelligence

Identity Technologies Inc

990 • Fiscal year 2022 • EIN 83-4231391

Jan 01, 2022 to Dec 31, 2022 • Filed on Nov 11, 2023

Organization ProfileWWW.IDENTITY.COM
237 A Street 81914San Diego, CA 92101

(415) 235-5165

Siviq Scores

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

Liabilities / Assets

96th percentile

1.02x

Higher debt load relative to assets than 96% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

100th percentile

42.03x

Higher debt load relative to revenue than 100% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Net Margin

1st percentile

-1906%

Higher net margin than 1% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

96th percentile

$301,694

Higher top officer pay than 96% of similar nonprofits.

Top officer pay equals 288.7% of source-year revenue.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2022

Asset Growth

5th percentile

-32%

Faster asset growth than 5% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

1st percentile

-97%

Faster revenue growth than 1% of similar nonprofits.

2022 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets96th percentile

Assets

Down

$4,320,353

Down $2,042,069 (-32%) from 2021

Net Assets

Down

-$71,825

Down $1,992,232 (-104%) from 2021

Liabilities

Down

$4,392,178

Down $49,837 (-1.1%) from 2021

Revenue And Expenses
Liabilities / Revenue100th percentileNet Margin1st percentile

Revenue

Down

$104,503

Down $3,063,382 (-97%) from 2021

Expenses

Down

$2,096,735

Down $1,435,369 (-41%) from 2021

Net Income

Down

-$1,992,232

Down $1,628,013 (-447%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth5th percentile

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

$15M$10M$5.0M$0-$5.0MAssets 2019: $14,667,223Liabilities 2019: $12,112,464Net Assets 2019: $2,554,7592019Assets 2020: $9,171,175Liabilities 2020: $6,886,549Net Assets 2020: $2,284,6262020Assets 2021: $6,362,422Liabilities 2021: $4,442,015Net Assets 2021: $1,920,4072021Assets 2022: $4,320,353Liabilities 2022: $4,392,178Net Assets 2022: -$71,8252022Assets 2023: $2,908,865Liabilities 2023: $4,456,570Net Assets 2023: -$1,547,7052023Assets 2024: $2,716,306Liabilities 2024: $16,685Net Assets 2024: $2,699,6212024

Highlighted filing

2022

Assets$4,320,353
Liabilities$4,392,178
Net Assets-$71,825
Open 2022 Filing

Operations Trend

Revenue Growth1st percentile

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

$15M$10M$5.0M$0-$5.0MRevenue 2019: $10,520,121Expenses 2019: $7,965,362Net Income 2019: $2,554,7592019Revenue 2020: $0Expenses 2020: $270,133Net Income 2020: -$270,1332020Revenue 2021: $3,167,885Expenses 2021: $3,532,104Net Income 2021: -$364,2192021Revenue 2022: $104,503Expenses 2022: $2,096,735Net Income 2022: -$1,992,2322022Revenue 2023: $426,157Expenses 2023: $1,902,037Net Income 2023: -$1,475,8802023Revenue 2024: $6,647,375Expenses 2024: $2,400,049Net Income 2024: $4,247,3262024

Highlighted filing

2022

Revenue$104,503
Expenses$2,096,735
Net Income-$1,992,232
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
Nov 11, 2023
Return Version
2022v5.0
Gross Receipts
$104,503
Mission and Program Overview

Mission

To create a self sustaining new identity economy, bringing low cost digital identifications to the world, increasing job opportunities, reducing the cost of identity verification, all while increasing quality in this merit based marketplace.

To create a self sustaining new identity economy

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,864,800$1,775,306▼ $2,089,494
Intangible Assets$1,200,000$1,200,000→ $0
Other Notes and Loans Receivable, Net$461,000$461,000→ $0
Land, Buildings, and Equipment, Net$19,087$36,770▲ $17,683
Prepaid Expenses and Deferred Charges-$29,742-
Accounts Receivable$3,181$3,181→ $0
Total Assets$6,362,422$4,320,353▼ $2,042,069
Other Assets Total$814,354$814,354→ $0
Liabilities
Other Liabilities$4,438,378$4,392,178▼ $46,200
Accounts Payable and Accrued Expenses$3,637--
Total Liabilities$4,442,015$4,392,178▼ $49,837
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,920,407$-71,825▼ $1,992,232
Total Net Assets Fund Balance$1,920,407$-71,825▼ $1,992,232
Total Liabilities and Net Assets / Fund Balance$6,362,422$4,320,353▼ $2,042,069

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$36,770$11,344$48,114
Other Assets Org$746,777--
Compensation and Service Providers
Top Officer Pay96th percentile

Employees

NameTitleBaseOtherTotal
Phillip ShoemakerExecutive Director/sec$300,000$1,694$301,694
Llew ClaasenTreasurer$71,500-$71,500
James KilroeDirector$30,120-$30,120

Board Members and Trustees

NameTitle
Vinodan K LinghamPresident

Highest Paid Contractors

ContractorServicesLocationCompensation
Wachsman LLCPublic Relations Consulting548 MARKET ST, San Francisco, CA 94104, Sf$126,000
William BrooksSoftware Development Services-$104,999
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$57,600
Other Revenue
$46,903
Change in Net Assets
$-1,992,232
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,206,489
Other Expenses$890,246
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$544,750--$544,750
Fees for Services Other$462,559--$462,559
Current Officers, Directors, Trustees, and Key Employees$403,314--$403,314
Other Employee Benefits$203,461--$203,461
Travel$104,774--$104,774
Fees for Services Legal-$83,327-$83,327
Payroll Taxes$54,964--$54,964
Conferences and Meetings$38,588--$38,588
All Other Expenses$32,925$1-$32,926
Advertising$17,032--$17,032
Fees for Services Accounting-$16,013-$16,013
Other Expenses$18,711$12,601-$12,601
Office Expenses$5,923--$5,923
Total Functional Expenses$1,963,001$133,734$0$2,096,735
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
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Cvc Promotional Token Deposit$4,392,178
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“A copy of the final form 990 is sent to each board member before it is filed. Any questions or comments are addressed before the tax return is filed.”

Form 990, Part VI, Section C, Line 19

“The organization makes required documents available upon request.”

Filing and Contact Details

Filer

Filer Name
Identity Technologies Inc
EIN
83-4231391
Phone
4152355165
Address
237 A STREET 81914, SAN DIEGO, CA 92101

Signing Officer

Name
Phillip Shoemaker
Title
Exec Director
Phone
4152355165
Signed
2023-11-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Phillip Shoemaker
Formed
2019
Legal Domicile
De
Voting Board Members
4
Independent Board Members
3
Employees
0
Volunteers
0

Preparer

Firm
Deloitte Tax Llp
Address
695 TOWN CENTER DRIVE SUITE 1000, COSTA MESA, CA 92626
Preparer
Basir a Mohammad
Phone
7144367100
Supplemental Narrative

Additional Explanations

Form 990, Part V, Line 2A

“The organization uses a third-party professional employer organization (peo) which runs payroll on behalf of the organization. The forms w-2 are filed by the peo and not by the organization.”

Form 990, Part IX, Line 11G

“Public relations consultants: program service expenses 150,495. Management and general expenses 0. Fundraising expenses 0. Total expenses 150,495. Software development services: program service expenses 104,999. Management and general expenses 0. Fundraising expenses 0. Total expenses 104,999. Product management services: program service expenses 96,770. Management and general expenses 0. Fundraising expenses 0. Total expenses 96,770. Contractors & consultants: program service expenses 50,110. Management and general expenses 0. Fundraising expenses 0. Total expenses 50,110. Technical writing services: program service expenses 24,762. Management and general expenses 0. Fundraising expenses 0. Total expenses 24,762. Software licensing services: program service expenses 22,260. Management and general expenses 0. Fundraising expenses 0. Total expenses 22,260. Project management services: program service expenses 13,163. Management and general expenses 0. Fundraising expenses 0. Total expenses 13,163.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990FilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompReportPrior990RltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompensationFlngOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/DeferredCompRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/OtherCompensationRltdOrgsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PHILLIP SHOEMAKER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0EXECUTIVE DIRECTOR/SEC
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0301694
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationRltdOrgsAmt00
IRS990ScheduleJ/SeverancePaymentInd00
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION USES A THIRD-PARTY PROFESSIONAL EMPLOYER ORGANIZATION (PEO) WHICH RUNS PAYROLL ON BEHALF OF THE ORGANIZATION. THE FORMS W-2 ARE FILED BY THE PEO AND NOT BY THE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1A COPY OF THE FINAL FORM 990 IS SENT TO EACH BOARD MEMBER BEFORE IT IS FILED. ANY QUESTIONS OR COMMENTS ARE ADDRESSED BEFORE THE TAX RETURN IS FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE ORGANIZATION MAKES REQUIRED DOCUMENTS AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3PUBLIC RELATIONS CONSULTANTS: PROGRAM SERVICE EXPENSES 150,495. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 150,495. SOFTWARE DEVELOPMENT SERVICES: PROGRAM SERVICE EXPENSES 104,999. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 104,999. PRODUCT MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 96,770. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 96,770. CONTRACTORS & CONSULTANTS: PROGRAM SERVICE EXPENSES 50,110. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 50,110. TECHNICAL WRITING SERVICES: PROGRAM SERVICE EXPENSES 24,762. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 24,762. SOFTWARE LICENSING SERVICES: PROGRAM SERVICE EXPENSES 22,260. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 22,260. PROJECT MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 13,163. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 13,163.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART V, LINE 2A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART IX, LINE 11G
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt06362422
IRS990/TotalAssetsEOYAmt04320353
IRS990/TotalAssetsGrp/BOYAmt06362422
IRS990/TotalAssetsGrp/EOYAmt04320353
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0133734
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01963001
IRS990/TotalFunctionalExpensesGrp/TotalAmt02096735
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04442015
IRS990/TotalLiabilitiesEOYAmt04392178
IRS990/TotalLiabilitiesGrp/BOYAmt04442015
IRS990/TotalLiabilitiesGrp/EOYAmt04392178
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01920407
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-71825
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01963001
IRS990/TotalReportableCompFromOrgAmt0403314
IRS990/TotalRevenueGrp/ExclusionAmt0104503
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0104503
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt06362422
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt04320353
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0104774
IRS990/TravelGrp/TotalAmt0104774
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0237 A STREET 81914
IRS990/USAddress/CityNm0SAN DIEGO
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd092101
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.IDENTITY.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PHILLIP SHOEMAKER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXEC DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04152355165
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-11
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IDENTITY TECHNOLOGIES INC
ReturnHeader/Filer/BusinessNameControlTxt0IDEN
ReturnHeader/Filer/EIN0834231391
ReturnHeader/Filer/PhoneNum04152355165
ReturnHeader/Filer/USAddress/AddressLine1Txt0237 A STREET 81914
ReturnHeader/Filer/USAddress/CityNm0SAN DIEGO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd092101
ReturnHeader/IRSResponsiblePrtyInfoCurrInd00
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0861065772
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0DELOITTE TAX LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0695 TOWN CENTER DRIVE SUITE 1000
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0COSTA MESA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0CA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd092626
ReturnHeader/PreparerPersonGrp/PhoneNum07144367100
ReturnHeader/PreparerPersonGrp/PreparationDt02023-11-11
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BASIR A MOHAMMAD
ReturnHeader/ReturnTs02023-11-14T21:54:18-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0PHILLIP
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0SHOEMAKER
ReturnHeader/TaxPeriodBeginDt02022-01-01
ReturnHeader/TaxPeriodEndDt02022-12-31
ReturnHeader/TaxYr02022

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$4,320,353
Liabilities
$4,392,178
Net assets
-$71,825
Revenue
$104,503
Expenses
$2,096,735
Net income
-$1,992,232
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.72$0.02$2.70$6.65$2.40$4.25
2023Detailed filing. Detailed filing data is available for this year.$2.91$4.46$1.55$0.43$1.90$1.48
2022Detailed filing. Detailed filing data is available for this year.$4.32$4.39$0.07$0.10$2.10$1.99
2021Detailed filing. Detailed filing data is available for this year.$6.36$4.44$1.92$3.17$3.53$0.36
2020Detailed filing. Detailed filing data is available for this year.$9.17$6.89$2.28$0.00$0.27$0.27
2019Detailed filing. Detailed filing data is available for this year.$14.7$12.1$2.55$10.5$7.97$2.55
Peer Organizations

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