Civic Intelligence

Rust Foundation

990 • Fiscal year 2021 • EIN 85-4376974

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 10, 2024

Organization ProfileFOUNDATION.RUST-LANG.ORG
8 The Green 11976Dover, DE 19901

(302) 219-7361

Siviq Scores

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

Liabilities / Assets

54th percentile

0.17x

Higher debt load relative to assets than 54% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Liabilities / Revenue

43rd percentile

0.14x

Higher debt load relative to revenue than 43% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Net Margin

98th percentile

70%

Higher net margin than 98% of similar nonprofits.

2021 filings • 501(c)6 • $1M-$5M nonprofits • Source year 2021

Top Officer Pay

40th percentile

$110,000

Higher top officer pay than 40% of similar nonprofits.

Top officer pay equals 5.3% of source-year revenue.

2021 filings • 501(c)6 • $1M-$5M 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 / Assets54th percentile

Assets

$1,745,498

No earlier filing loaded for comparison.

Net Assets

$1,448,804

No earlier filing loaded for comparison.

Liabilities

$296,694

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue43rd percentileNet Margin98th percentile

Revenue

$2,074,961

No earlier filing loaded for comparison.

Expenses

$626,157

No earlier filing loaded for comparison.

Net Income

$1,448,804

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.

$6.0M$4.0M$2.0M$0Assets 2021: $1,745,498Liabilities 2021: $296,694Net Assets 2021: $1,448,8042021Assets 2022: $2,993,908Liabilities 2022: $657,958Net Assets 2022: $2,335,9502022Assets 2023: $3,736,867Liabilities 2023: $1,931,559Net Assets 2023: $1,805,3082023Assets 2024: $4,694,373Liabilities 2024: $2,392,844Net Assets 2024: $2,301,5292024

Highlighted filing

2021

Assets$1,745,498
Liabilities$296,694
Net Assets$1,448,804
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$6.0M$4.0M$2.0M$0-$2.0MRevenue 2021: $2,074,961Expenses 2021: $626,157Net Income 2021: $1,448,8042021Revenue 2022: $2,818,843Expenses 2022: $1,931,697Net Income 2022: $887,1462022Revenue 2023: $2,521,299Expenses 2023: $3,074,941Net Income 2023: -$553,6422023Revenue 2024: $4,289,364Expenses 2024: $3,794,143Net Income 2024: $495,2212024

Highlighted filing

2021

Revenue$2,074,961
Expenses$626,157
Net Income$1,448,804
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 10, 2024
Return Version
2021v4.2
Gross Receipts
$2,074,961
Mission and Program Overview

Mission

The primary purpose of the rust foundation is to: (a) support and promote the rust project, which is the principal developer of the rust programming language, (b) support the promotion, maintenance and development, and security of the rust programming language and other projects supporting the rust language and the broader rust ecosystem; (c) cultivate the rust project team members and user communities, including by producing events; (d) manage the technical infrastructure underlying the development of rust; (e) manage and steward the rust trademark and other assets of the foundation; and (f) undertake such other activities as may from time to time be appropriate to further the purposes and achieve the goals set forth above.

The primary purpose of the foundation is to: (a) support the maintenance and development of the rust programming language and related projects (the "projects"); (b) cultivate the rust project team members and user communities, including by producing events; (c) manage the technical infrastructure underlying the development of rust; (d) manage and steward the rust trademark and other assets of the foundation; and (e) undertake such other activities as may from time to time be appropriate to further the purposes and achieve the goals set forth above.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$0$1,183,748▲ $1,183,748
Accounts Receivable$0$555,000▲ $555,000
Prepaid Expenses and Deferred Charges$0$4,757▲ $4,757
Land, Buildings, and Equipment, Net$0$1,993▲ $1,993
Total Assets$0$1,745,498▲ $1,745,498
Liabilities
Deferred Revenue$0$262,833▲ $262,833
Accounts Payable and Accrued Expenses$0$33,861▲ $33,861
Total Liabilities$0$296,694▲ $296,694
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$0$1,448,804▲ $1,448,804
Total Net Assets Fund Balance$0$1,448,804▲ $1,448,804
Total Liabilities and Net Assets / Fund Balance$0$1,745,498▲ $1,745,498

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,993$57$2,050
Compensation and Service Providers
Top Officer Pay40th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ashley WilliamsInterim Exec. Director (thru 07/2021)FT$110,000-$110,000
Rebecca RumbulExecutive Director (from 11/2021)FT$26,283$3,352$29,635

Board Members and Trustees

NameTitle
Shane MillerChair
Bobby HolleyDirector
Florian GilcherDirector
Jane Losare-lusbyDirector
Joel MarceyDirector
Josh StoneDirector
Lars BergstromDirector
Nell Shamrell-harringtonDirector
Peixin HouDirector
Tyler MandryDirector
Mark RousskovSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$650,000
Program Service Revenue
$1,424,917
Investment Income
$0
Other Revenue
$44
All Other Contributions
$650,000
Change in Net Assets
$1,448,804
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$467,083
Salaries, Compensation, and Employee Benefits$159,074
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Expenses---$146,180
Current Officers, Directors, Trustees, and Key Employees---$139,635
Advertising---$98,618
Fees for Services Other---$90,919
Fees for Services Legal---$77,138
Fees for Services Accounting---$30,900
Payroll Taxes---$19,439
Conferences and Meetings---$15,000
Insurance---$3,097
Travel---$2,548
Information Technology---$2,505
Office Expenses---$121
Depreciation Depletion---$57
Total Functional Expenses$0$0$0$626,157
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
In-house lobbying only
Yes
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
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
Yes
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

“For a large part of 2021 the foundation was without an executive director or any other staff, and contracted with virtual inc for accounting and membership management services. This relationship was terminated in 2022 now that the foundation has hired staff to cover these duties.”

Form 990, Part VI, Section A, Line 6

“The foundation shall have five classes of membership: platinum members, gold members, silver members, associate members, and individual members.”

Form 990, Part VI, Section A, Line 7A

“Each platinum member is allocated one board seat. Once there are 4 gold members they get to vote for one director from among their number; once there are 8 they get to vote for two directors, which is the maximum they get to vote for. Once there are 10 silver members they get to vote for one director, which is the maximum they are able to vote for.”

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

“A copy of the form 990 will be reviewed by the organization's governing body prior to being filed with the internal revenue service.”

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

“The conflict of interest policy is reviewed annually by the board, and each board member (and key employees) is required to complete an updated declaration on an annual basis. Copies of policy and declarations available on request.”

Form 990, Part VI, Section B, Line 15A

“Compensation levels are set by a dedicated compensation committee which is a subset of the foundation's board. Industry benchmarking is used to set compensation levels.”

Form 990, Part VI, Section C, Line 19

“The organization makes its governing documents and conflict of interest policy available to the public on its website. The organization's first set of financial statements are in 2021, and will be available upon request.”

Filing and Contact Details

Filer

Filer Name
Rust Foundation
EIN
85-4376974
Phone
3022197361
Address
8 THE GREEN 11976, DOVER, DE 19901

Signing Officer

Name
Rebecca Rumbul
Title
Executive Director
Phone
3022197361
Signed
2024-11-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Rebecca Rumbul
Formed
2021
Legal Domicile
De
Voting Board Members
11
Independent Board Members
11
Employees
1
Volunteers
11

Preparer

Firm
Wegner Cpas Llp
Address
419 N LEE ST, ALEXANDRIA, VA 22314-2301
Preparer
Glenn Miller CPA
Phone
7035190990
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Contractors and other consultants 1,925. Membership admin services 25,500. Recruitment 63,494.”

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IRS990/MissionDesc0THE PRIMARY PURPOSE OF THE FOUNDATION IS TO: (A) SUPPORT THE MAINTENANCE AND DEVELOPMENT OF THE RUST PROGRAMMING LANGUAGE AND RELATED PROJECTS (THE "PROJECTS"); (B) CULTIVATE THE RUST PROJECT TEAM MEMBERS AND USER COMMUNITIES, INCLUDING BY PRODUCING EVENTS; (C) MANAGE THE TECHNICAL INFRASTRUCTURE UNDERLYING THE DEVELOPMENT OF RUST; (D) MANAGE AND STEWARD THE RUST TRADEMARK AND OTHER ASSETS OF THE FOUNDATION; AND (E) UNDERTAKE SUCH OTHER ACTIVITIES AS MAY FROM TIME TO TIME BE APPROPRIATE TO FURTHER THE PURPOSES AND ACHIEVE THE GOALS SET FORTH ABOVE.
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IRS990/ProgSrvcAccomActy3Grp/Desc0A FULL TIME EXECUTIVE DIRECTOR / CEO WAS RECRUITED, WITH THE RECRUITMENT EXERCISE RUNNING FROM JUNE 2021-OCTOBER 2021, WITH THE NEW HIRE BEGINNING IN POST DURING NOVEMBER 2021.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0FOR A LARGE PART OF 2021 THE FOUNDATION WAS WITHOUT AN EXECUTIVE DIRECTOR OR ANY OTHER STAFF, AND CONTRACTED WITH VIRTUAL INC FOR ACCOUNTING AND MEMBERSHIP MANAGEMENT SERVICES. THIS RELATIONSHIP WAS TERMINATED IN 2022 NOW THAT THE FOUNDATION HAS HIRED STAFF TO COVER THESE DUTIES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FOUNDATION SHALL HAVE FIVE CLASSES OF MEMBERSHIP: PLATINUM MEMBERS, GOLD MEMBERS, SILVER MEMBERS, ASSOCIATE MEMBERS, AND INDIVIDUAL MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2EACH PLATINUM MEMBER IS ALLOCATED ONE BOARD SEAT. ONCE THERE ARE 4 GOLD MEMBERS THEY GET TO VOTE FOR ONE DIRECTOR FROM AMONG THEIR NUMBER; ONCE THERE ARE 8 THEY GET TO VOTE FOR TWO DIRECTORS, WHICH IS THE MAXIMUM THEY GET TO VOTE FOR. ONCE THERE ARE 10 SILVER MEMBERS THEY GET TO VOTE FOR ONE DIRECTOR, WHICH IS THE MAXIMUM THEY ARE ABLE TO VOTE FOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3A COPY OF THE FORM 990 WILL BE REVIEWED BY THE ORGANIZATION'S GOVERNING BODY PRIOR TO BEING FILED WITH THE INTERNAL REVENUE SERVICE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD, AND EACH BOARD MEMBER (AND KEY EMPLOYEES) IS REQUIRED TO COMPLETE AN UPDATED DECLARATION ON AN ANNUAL BASIS. COPIES OF POLICY AND DECLARATIONS AVAILABLE ON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5COMPENSATION LEVELS ARE SET BY A DEDICATED COMPENSATION COMMITTEE WHICH IS A SUBSET OF THE FOUNDATION'S BOARD. INDUSTRY BENCHMARKING IS USED TO SET COMPENSATION LEVELS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC ON ITS WEBSITE. THE ORGANIZATION'S FIRST SET OF FINANCIAL STATEMENTS ARE IN 2021, AND WILL BE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CONTRACTORS AND OTHER CONSULTANTS 1,925. MEMBERSHIP ADMIN SERVICES 25,500. RECRUITMENT 63,494.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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ReasonableCauseExplanation/ExplanationTxt0THE ORGANIZATION INITIALLY SUBMITTED A TIMELY 990 FILING WITH THE IRS, BUT IT WAS NOT ACCEPTED BY THE IRS DUE TO ELECTRONIC FILING DATABASE ISSUES AS A RESULT OF THE ORGANIZATION'S STATUS AS A SELF-DECLARED 501(C)(6) ORGANIZATION. THESE ELECTRONIC FILING DATABASE ISSUES WERE LATER RESOLVED, WHILE THE ORGANIZATION WAS IN THE PROCESS OF POTENTIALLY RECLASSIFYING ITS ORGANIZATIONAL STATUS. THE ORGANIZATION RESPECTFULLY REQUESTS THAT THE IRS ACCEPTS THIS ELECTRONIC RESUBMISSION OF ITS 990 AS TIMELY. THE ORGANIZATION'S MANAGEMENT IS SINCERE IN ITS INTENT TO MAINTAIN COMPLIANCE WITH ALL FUTURE REQUIRED FILINGS.
ReturnHeader/BuildTS02024-10-15 13:58:12Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0REBECCA RUMBUL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0EXECUTIVE DIRECTOR
ReturnHeader/BusinessOfficerGrp/PhoneNum03022197361
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-11-10
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0WEGNER CPAS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0419 N LEE ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALEXANDRIA
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-10
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0GLENN MILLER CPA
ReturnHeader/ReturnTs02024-11-12T13:46:28-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$1,745,498
Liabilities
$296,694
Net assets
$1,448,804
Revenue
$2,074,961
Expenses
$626,157
Net income
$1,448,804
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$4.69$2.39$2.30$4.29$3.79$0.50
2023Detailed filing. Detailed filing data is available for this year.$3.74$1.93$1.81$2.52$3.07$0.55
2022Detailed filing. Detailed filing data is available for this year.$2.99$0.66$2.34$2.82$1.93$0.89
2021Detailed filing. Detailed filing data is available for this year.$1.75$0.30$1.45$2.07$0.63$1.45