Civic Intelligence

Identity Technologies Inc

990 • Fiscal year 2023 • EIN 83-4231391

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

Organization ProfileWWW.IDENTITY.COM
8605 Santa Monica Blvd Pmb 81914West Hollywood, CA 90069-4109

(415) 235-5165

Siviq Scores

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

Liabilities / Assets

98th percentile

1.53x

Higher debt load relative to assets than 98% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

99th percentile

10.46x

Higher debt load relative to revenue than 99% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Net Margin

1st percentile

-346%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

97th percentile

$387,076

Higher top officer pay than 97% of similar nonprofits.

Top officer pay equals 90.8% of source-year revenue.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Source year 2023

Asset Growth

4th percentile

-33%

Faster asset growth than 4% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

97th percentile

308%

Faster revenue growth than 97% of similar nonprofits.

2023 filings • 501(c)4 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets98th percentile

Assets

Down

$2,908,865

Down $1,411,488 (-33%) from 2022

Net Assets

Down

-$1,547,705

Down $1,475,880 (-2055%) from 2022

Liabilities

Up

$4,456,570

Up $64,392 (+1.5%) from 2022

Revenue And Expenses
Liabilities / Revenue99th percentileNet Margin1st percentile

Revenue

Up

$426,157

Up $321,654 (+308%) from 2022

Expenses

Down

$1,902,037

Down $194,698 (-9.3%) from 2022

Net Income

Up

-$1,475,880

Up $516,352 (+26%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth4th 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

2023

Assets$2,908,865
Liabilities$4,456,570
Net Assets-$1,547,705
Open 2023 Filing

Operations Trend

Revenue Growth97th 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

2023

Revenue$426,157
Expenses$1,902,037
Net Income-$1,475,880
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.1
Gross Receipts
$426,157
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
Intangible Assets$1,200,000$1,200,000→ $0
Other Notes and Loans Receivable, Net$461,000--
Cash and Non-Interest-Bearing Accounts$1,775,306$383,851▼ $1,391,455
Land, Buildings, and Equipment, Net$36,770$41,479▲ $4,709
Prepaid Expenses and Deferred Charges$29,742$5,000▼ $24,742
Accounts Receivable$3,181$3,181→ $0
Total Assets$4,320,353$2,908,865▼ $1,411,488
Other Assets Total$814,354$1,275,354▲ $461,000
Liabilities
Other Liabilities$4,392,178$4,392,178→ $0
Accounts Payable and Accrued Expenses-$64,392-
Total Liabilities$4,392,178$4,456,570▲ $64,392
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$-71,825$-1,547,705▼ $1,475,880
Total Net Assets Fund Balance$-71,825$-1,547,705▼ $1,475,880
Total Liabilities and Net Assets / Fund Balance$4,320,353$2,908,865▼ $1,411,488

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$41,479$11,344$52,823
Other Assets Org$1,207,777--
Compensation and Service Providers
Top Officer Pay97th percentile

Employees

NameTitleBaseTotal
Phillip ShoemakerExecutive Director/sec$387,076$387,076
Llew ClaasenTreasurer$84,500$84,500
James KilroeDirector$30,000$30,000

Board Members and Trustees

NameTitle
Vinodan K LinghamPresident

Highest Paid Contractors

ContractorServicesLocationCompensation
Tighe BarrisSoftware Development Services555 TWIN DOLPHIN DR STE 200, Redwood City, CA 94065$150,000
Seamus HennessyProduct Management Services10355 SOUTH JORDAN GATEWAY SUITE 15, South Jordan, UT 84095$135,000
Julian SpringConsulting Services177 HUNTINGTON AVE STE 1703, Boston, MA 02115$120,000
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$425,000
Investment Income
$0
Other Revenue
$1,157
Change in Net Assets
$-1,475,880
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,051,324
Other Expenses$850,713
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$629,652--$629,652
Current Officers, Directors, Trustees, and Key Employees$501,576--$501,576
Other Salaries and Wages$299,896--$299,896
Other Employee Benefits$206,730--$206,730
Payroll Taxes$43,122--$43,122
Advertising$27,612--$27,612
All Other Expenses$18,809$7,585-$26,394
Travel$26,201--$26,201
Other Expenses$18,081$36,225-$18,081
Fees for Services Accounting-$11,577-$11,577
Fees for Services Legal-$10,124-$10,124
Office Expenses$6,880--$6,880
Conferences and Meetings$4,630--$4,630
Fees for Service Investment Mgmnt Fees-$1,208-$1,208
Total Functional Expenses$1,835,318$66,719$0$1,902,037
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
8605 SANTA MONICA BLVD PMB 81914, WEST HOLLYWOOD, CA 90069-4109

Signing Officer

Name
Phillip Shoemaker
Title
Exec Director
Phone
4152355165
Signed
2024-11-15
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 110,002. Management and general expenses 0. Fundraising expenses 0. Total expenses 110,002. Software development services: program service expenses 230,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 230,000. Product management services: program service expenses 135,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 135,000. Contractors & consultants: program service expenses 120,000. Management and general expenses 0. Fundraising expenses 0. Total expenses 120,000. Software licensing services: program service expenses 10,950. Management and general expenses 0. Fundraising expenses 0. Total expenses 10,950. Project management services: program service expenses 23,700. Management and general expenses 0. Fundraising expenses 0. Total expenses 23,700.”

Raw XML Appendix379 raw XML fields

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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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt04392178
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0CVC PROMOTIONAL TOKEN DEPOSIT
IRS990ScheduleD/TotalBookValueLandBuildingsAmt041479
IRS990ScheduleD/TotalBookValueOtherAssetsAmt01275354
IRS990ScheduleD/TotalLiabilityAmt04392178
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0387076
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusFilingOrganizationAmount00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BonusRelatedOrganizationsAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/CompensationBasedOnRltdOrgsAmt00
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/TotalCompensationFilingOrgAmt0387076
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 110,002. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 110,002. SOFTWARE DEVELOPMENT SERVICES: PROGRAM SERVICE EXPENSES 230,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 230,000. PRODUCT MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 135,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 135,000. CONTRACTORS & CONSULTANTS: PROGRAM SERVICE EXPENSES 120,000. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 120,000. SOFTWARE LICENSING SERVICES: PROGRAM SERVICE EXPENSES 10,950. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 10,950. PROJECT MANAGEMENT SERVICES: PROGRAM SERVICE EXPENSES 23,700. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 23,700.
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/TotalAssetsBOYAmt04320353
IRS990/TotalAssetsEOYAmt02908865
IRS990/TotalAssetsGrp/BOYAmt04320353
IRS990/TotalAssetsGrp/EOYAmt02908865
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt066719
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01835318
IRS990/TotalFunctionalExpensesGrp/TotalAmt01902037
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt04392178
IRS990/TotalLiabilitiesEOYAmt04456570
IRS990/TotalLiabilitiesGrp/BOYAmt04392178
IRS990/TotalLiabilitiesGrp/EOYAmt04456570
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0-71825
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0-1547705
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01835318
IRS990/TotalProgramServiceRevenueAmt0425000
IRS990/TotalReportableCompFromOrgAmt0501576
IRS990/TotalRevenueGrp/ExclusionAmt01157
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0425000
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0426157
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt04320353
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02908865
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt026201
IRS990/TravelGrp/TotalAmt026201
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08605 SANTA MONICA BLVD PMB 81914
IRS990/USAddress/CityNm0WEST HOLLYWOOD
IRS990/USAddress/StateAbbreviationCd0CA
IRS990/USAddress/ZIPCd0900694109
IRS990/VotingMembersGoverningBodyCnt04
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.IDENTITY.COM
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0PHILLIP SHOEMAKER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXEC DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum04152355165
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-15
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0IDENTITY TECHNOLOGIES INC
ReturnHeader/Filer/BusinessNameControlTxt0IDEN
ReturnHeader/Filer/EIN0834231391
ReturnHeader/Filer/PhoneNum04152355165
ReturnHeader/Filer/USAddress/AddressLine1Txt08605 SANTA MONICA BLVD PMB 81914
ReturnHeader/Filer/USAddress/CityNm0WEST HOLLYWOOD
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd0900694109
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/PreparerPersonNm0BASIR A MOHAMMAD
ReturnHeader/ReturnTs02024-11-15T13:25:22-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$2,908,865
Liabilities
$4,456,570
Net assets
-$1,547,705
Revenue
$426,157
Expenses
$1,902,037
Net income
-$1,475,880
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