Civic Intelligence

Sia Foundation Inc.

990 • Fiscal year 2021 • EIN 85-4329649

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 14, 2022

Organization Profilesia.tech

View Organization Page

75 North Main St 6016Randolph, MA 02368

(781) 805-3482

Siviq Scores

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

Liabilities / Assets

4th percentile

0.00x

Higher debt load relative to assets than 4% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

4th percentile

0.00x

Higher debt load relative to revenue than 4% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

99th percentile

98%

Higher net margin than 99% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

21st percentile

$140,125

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 0.3% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2021

Balance Sheet
Liabilities / Assets4th percentile

Assets

$41,231,274

No earlier filing loaded for comparison.

Net Assets

$41,229,027

No earlier filing loaded for comparison.

Liabilities

$2,247

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue4th percentileNet Margin99th percentile

Revenue

$45,817,680

No earlier filing loaded for comparison.

Expenses

$771,075

No earlier filing loaded for comparison.

Net Income

$45,046,605

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$60M$40M$20M$0Assets 2021: $41,231,274Liabilities 2021: $2,247Net Assets 2021: $41,229,0272021Assets 2022: $28,791,779Liabilities 2022: $2,281Net Assets 2022: $28,789,4982022Assets 2023: $42,587,999Liabilities 2023: $28,783Net Assets 2023: $42,559,2162023Assets 2024: $42,607,328Liabilities 2024: $58,026Net Assets 2024: $42,549,3022024

Highlighted filing

2021

Assets$41,231,274
Liabilities$2,247
Net Assets$41,229,027
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$60M$40M$20M$0-$20MRevenue 2021: $45,817,680Expenses 2021: $771,075Net Income 2021: $45,046,6052021Revenue 2022: $2,052,332Expenses 2022: $2,308,103Net Income 2022: -$255,7712022Revenue 2023: $6,797,984Expenses 2023: $3,409,355Net Income 2023: $3,388,6292023Revenue 2024: $12,298,041Expenses 2024: $4,842,619Net Income 2024: $7,455,4222024

Highlighted filing

2021

Revenue$45,817,680
Expenses$771,075
Net Income$45,046,605
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 14, 2022
Return Version
2021v4.2
Gross Receipts
$48,696,595
Mission and Program Overview

Mission

The Sia Foundation was created to serve as the ideal steward of the Sia storage network: financially stable, politically neutral, and technologically capable. We aim to disrupt cloud storage by allowing peers to buy and sell cloud storage directly in a global, trustless marketplace, and to conduct research and engineering in the open, sharing our results for the benefit of all.

Balance Sheet Detail
LineBeginningEndChange
Assets
Intangible Assets-$34,889,970-
Cash and Non-Interest-Bearing Accounts-$6,331,680-
Land, Buildings, and Equipment, Net$0$5,681▲ $5,681
Prepaid Expenses and Deferred Charges-$3,943-
Total Assets$0$41,231,274▲ $41,231,274
Liabilities
Accounts Payable and Accrued Expenses-$2,247-
Total Liabilities$0$2,247▲ $2,247
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$41,229,027-
Total Net Assets Fund Balance$0$41,229,027▲ $41,229,027
Total Liabilities and Net Assets / Fund Balance$0$41,231,274▲ $41,231,274

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$5,681$267$5,948
Compensation and Service Providers
Top Officer Pay21st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Luke ChampinePresident/TreasurerFT$133,302$6,823$140,125

Board Members and Trustees

NameTitle
Eddie WangChairman/Secretary
Revenue and Support

Revenue Composition

Contributions and Grants
$41,668,273
Program Service Revenue
$0
Investment Income
$4,149,407
Other Revenue
$0
All Other Contributions
$41,668,273
Change in Net Assets
$45,046,605

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeReported Amount
Other Non Cash Contri Table$41,667,273
Total Noncash Contributions$41,667,273

Audited Revenue Reconciliation

Revenue per Audited Statements
$45,817,680
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-3,817,578
Total Revenue per Audited Statements
$42,000,102
Total Revenue per Form 990
$45,817,680
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$388,096
Salaries, Compensation, and Employee Benefits$339,546
Grants and Similar Amounts Paid$43,433
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Services Other$79,022$119,227-$198,249
Other Salaries and Wages$56,561$115,272-$171,833
Current Officers, Directors, Trustees, and Key Employees$46,124$94,001-$140,125
Information Technology$87,720$44,619-$132,339
Grants to Domestic Individuals$30,033--$30,033
Payroll Taxes$8,334$16,986-$25,320
Grants to Domestic Orgs$13,400--$13,400
Fees for Services Accounting-$12,976-$12,976
Travel$11,121--$11,121
Office Expenses$1,832$7,805-$9,637
Fees for Services Legal-$4,762-$4,762
Insurance-$4,149-$4,149
Other Employee Benefits$746$1,522-$2,268
Other Expenses-$1,352-$1,352
Conferences and Meetings$454--$454
Depreciation Depletion-$267-$267
Total Functional Expenses$335,347$435,728$0$771,075

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$771,075
Total Expenses per Audited Statements$771,075
Total Expenses per Form 990$771,075
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Massachusetts Institute of TechnologyCambridge, MA501(c)(3)sponsorship of two educational events$13,400
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

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
-Business owned by Chair Eddie WangSoftware Development and ConsultingNo$41,400
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
Yes
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
Yes
Other officer compensation reviewed
Yes
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, Section A, line 8B

“The organization has no committees.”

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

“Each member of the Board of Directors receive a copy of the Form 990 prior to filing. The Board of Directors then review and discuss each part of the Form 990. Documentation of the review is recorded in meetings minutes.”

Form 990, Part VI, Section B, line 12C

“The Sia Foundation has a Board approved conflict of interest policy. The Board and staff annually acknowledge and disclose if they have engaged in transactions that present conflicts of interest.”

Form 990, Part VI, Section B, line 15

“Compensation for the President and key employees is reviewed and determined by research on comparability data of similarly qualified people in roles at other non-profit organizations with a similar budget. The President's salary is reviewed and determined by the Board of Directors, with no members that have a conflict of interest in the process.”

Form 990, Part VI, Section C, line 19

“The documents are made public on a Non-Profit Organization/Public Charities website and provided upon request.”

Filing and Contact Details

Filer

Filer Name
The Sia Foundation Inc
EIN
85-4329649
Phone
7818053482
Address
75 North Main St 6016, Randolph, MA 02368

Signing Officer

Name
Luke Champine
Title
President
Phone
7818053482
Signed
2022-11-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Luke Champine
Formed
2020
Legal Domicile
De
Voting Board Members
2
Independent Board Members
0
Employees
5
Volunteers
0

Preparer

Firm
Rogers & Company PLLC
Address
8300 Boone Boulevard Suite 600, Vienna, VA 22182
Preparer
Jie Chen CPA
Phone
7038930300
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

“Other professional fees: Program service expenses 79,022. Management and general expenses 119,227. Fundraising expenses 0. Total expenses 198,249.”

Form 990, Part XI, line 9:

“Impairment losses -3,817,578.”

Financial Statement Notes

Part X, Line 2:

“The Foundation is exempt from the payment of income taxes on its exempt activities under Section 501(c)(3) of the Internal Revenue Code (IRC). No provision for income taxes has been made, as there were no unrelated business activities for the year ended December 31, 2021. Management has evaluated The Foundation's tax positions and concluded that the financial statements do not include any uncertain tax positions.”

Part XI, Line 2D - Other Adjustments:

“Impairment losses -3,817,578.”

Raw XML Appendix371 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/SupplementalInformationDetail/ExplanationTxt0The Foundation is exempt from the payment of income taxes on its exempt activities under Section 501(c)(3) of the Internal Revenue Code (IRC). No provision for income taxes has been made, as there were no unrelated business activities for the year ended December 31, 2021. Management has evaluated The Foundation's tax positions and concluded that the financial statements do not include any uncertain tax positions.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1Impairment losses -3,817,578.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X, Line 2:
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part XI, Line 2d - Other Adjustments:
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IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Bundle Sia, Sentinel (DVPN) and Akash into a single hosting suite that allows end-users/non-programmers to easily rent out storage, bandwidth and hosts for dWeb projects.
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt030033
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceDesc0Cryptocurrency
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IRS990ScheduleI/RecipientTable/RecipientEIN0042103594
IRS990ScheduleI/RecipientTable/USAddress/AddressLine1Txt077 Massachusetts Avenue NE49-3142
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0Progress made by grantees is made public. The Sia Foundation also reaches out to grantees to ensure grant funds are utilized appropriately and progress is being made on the funded projects.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Part I, Line 2:
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0Business owned by Chair Eddie Wang
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0Software Development and Consulting
IRS990ScheduleM/AnyPropertyThatMustBeHeldInd00
IRS990ScheduleM/OtherNonCashContriTableGrp/ContributionCnt00
IRS990ScheduleM/OtherNonCashContriTableGrp/Desc0cryptocurrencies
IRS990ScheduleM/OtherNonCashContriTableGrp/NonCashCheckboxInd0X
IRS990ScheduleM/OtherNonCashContriTableGrp/NoncashContributionsRptF990Amt041667273
IRS990ScheduleM/ReviewProcessUnusualNCGiftsInd00
IRS990ScheduleM/ThirdPartiesUsedInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The organization has no committees.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1Each member of the Board of Directors receive a copy of the Form 990 prior to filing. The Board of Directors then review and discuss each part of the Form 990. Documentation of the review is recorded in meetings minutes.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Sia Foundation has a Board approved conflict of interest policy. The Board and staff annually acknowledge and disclose if they have engaged in transactions that present conflicts of interest.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Compensation for the President and key employees is reviewed and determined by research on comparability data of similarly qualified people in roles at other non-profit organizations with a similar budget. The President's salary is reviewed and determined by the Board of Directors, with no members that have a conflict of interest in the process.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The documents are made public on a Non-Profit Organization/Public Charities website and provided upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5Other professional fees: Program service expenses 79,022. Management and general expenses 119,227. Fundraising expenses 0. Total expenses 198,249.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6Impairment losses -3,817,578.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section A, line 8b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section B, line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Form 990, Part VI, Section B, line 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990, Part VI, Section C, line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Form 990, Part IX, line 11g
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Form 990, Part XI, line 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MA
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt00
IRS990/TotalAssetsEOYAmt041231274
IRS990/TotalAssetsGrp/BOYAmt00
IRS990/TotalAssetsGrp/EOYAmt041231274
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt041668273
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0435728
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0335347
IRS990/TotalFunctionalExpensesGrp/TotalAmt0771075
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt00
IRS990/TotalLiabilitiesEOYAmt02247
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt02247
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt041229027
IRS990/TotalOtherCompensationAmt06823
IRS990/TotalProgramServiceExpensesAmt0335347
IRS990/TotalReportableCompFromOrgAmt0133302
IRS990/TotalRevenueGrp/ExclusionAmt04149407
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt045817680
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt041231274
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt011121
IRS990/TravelGrp/TotalAmt011121
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt075 North Main St 6016
IRS990/USAddress/CityNm0Randolph
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002368
IRS990/VotingMembersGoverningBodyCnt02
IRS990/VotingMembersIndependentCnt00
IRS990/WebsiteAddressTxt0https://sia.tech
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd03
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0Luke Champine
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum07818053482
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-14
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0The Sia Foundation Inc
ReturnHeader/Filer/BusinessNameControlTxt0SIAF
ReturnHeader/Filer/EIN0854329649
ReturnHeader/Filer/PhoneNum07818053482
ReturnHeader/Filer/USAddress/AddressLine1Txt075 North Main St 6016
ReturnHeader/Filer/USAddress/CityNm0Randolph
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd002368
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0582676261
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0Rogers & Company PLLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt08300 Boone Boulevard Suite 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0Vienna
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0VA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd022182
ReturnHeader/PreparerPersonGrp/PhoneNum07038930300
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0Jie Chen CPA
ReturnHeader/ReturnTs02022-11-14T17:56:34-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0Luke
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0Champine
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$41,231,274
Liabilities
$2,247
Net assets
$41,229,027
Revenue
$45,817,680
Expenses
$771,075
Net income
$45,046,605
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$42.6$0.06$42.5$12.3$4.84$7.46
2023Detailed filing. Detailed filing data is available for this year.$42.6$0.03$42.6$6.80$3.41$3.39
2022Detailed filing. Detailed filing data is available for this year.$28.8$0.00$28.8$2.05$2.31$0.26
2021Detailed filing. Detailed filing data is available for this year.$41.2$0.00$41.2$45.8$0.77$45.0