Civic Intelligence

Project Liberty Institute

990 • Fiscal year 2021 • EIN 87-3213298

Jan 28, 2021 to Dec 31, 2021 • Filed on Oct 03, 2022

Organization ProfileWWW.PROJECTLIBERTY.IO
888 Seventh Avenue 16th FloorNew York, NY 10106

(212) 314-1900

Siviq Scores

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

Liabilities / Assets

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Liabilities / Revenue

8th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Net Margin

37th percentile

6.0%

Higher net margin than 37% of similar nonprofits.

2021 filings • 501(c)3 • $5M-$10M nonprofits • Source year 2021

Top Officer Pay

22nd percentile

$0

Higher top officer pay than 22% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2021 filings • 501(c)3 • $5M-$10M 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 / Assets8th percentile

Assets

$300,000

No earlier filing loaded for comparison.

Net Assets

$300,000

No earlier filing loaded for comparison.

Liabilities

$0

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / Revenue8th percentileNet Margin37th percentile

Revenue

$5,000,000

No earlier filing loaded for comparison.

Expenses

$4,700,000

No earlier filing loaded for comparison.

Net Income

$300,000

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.

$50M$0-$50MAssets 2021: $300,000Liabilities 2021: $0Net Assets 2021: $300,0002021Assets 2022: $1,261,127Liabilities 2022: $46,127,480Net Assets 2022: -$44,866,3532022Assets 2023: $6,240,925Liabilities 2023: $45,461,056Net Assets 2023: -$39,220,1312023Assets 2024: $7,474,351Liabilities 2024: $26,205,107Net Assets 2024: -$18,730,7562024

Highlighted filing

2021

Assets$300,000
Liabilities$0
Net Assets$300,000
Open 2021 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$40M$20M$0-$20M-$40MRevenue 2021: $5,000,000Expenses 2021: $4,700,000Net Income 2021: $300,0002021Revenue 2022: $13,800,000Expenses 2022: $39,098,768Net Income 2022: -$25,298,7682022Revenue 2023: $15,048,195Expenses 2023: $9,401,973Net Income 2023: $5,646,2222023Revenue 2024: $26,552,436Expenses 2024: $6,068,091Net Income 2024: $20,484,3452024

Highlighted filing

2021

Revenue$5,000,000
Expenses$4,700,000
Net Income$300,000
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 28, 2021 to Dec 31, 2021
Signed
Oct 3, 2022
Return Version
2021v4.2
Gross Receipts
$5,000,000
Mission and Program Overview

Mission

To create a new civic architecture for the digital world that returns the ownership and control of personal data to individuals, embeds ethical values into technology, and expands economic opportunities for web users and developers alike.

To promote the advancement and use of information technology for the common good of humanity in support of sustainable democracy and a more equitable economy.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$0$300,000▲ $300,000
Total Assets$0$300,000▲ $300,000
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions-$300,000-
Total Net Assets Fund Balance$0$300,000▲ $300,000
Total Liabilities and Net Assets / Fund Balance$0$300,000▲ $300,000
Compensation and Service Providers
Top Officer Pay22nd percentile

Board Members and Trustees

NameTitle
Frank MccourtPresident
Sheherazade Semsar-de BoissesonExecutive Director
Joseph WhiteSecretary
Joseph RileyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$5,000,000
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$5,000,000
Change in Net Assets
$300,000
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,700,000
Other Expenses$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$4,700,000--$4,700,000
Total Functional Expenses$4,700,000$0$0$4,700,000
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Georgetown UniversityWashington, DC501c3Program Support$2,500,000
US Sciences PO FoundationNew York, NY501c3Program Support$2,200,000
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
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
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Joseph white, joseph riley, and sheherazade semsar-de boisseson have business relationships with frank mccourt.”

Form 990, Part VI, Section A, Line 4

“The organization changed its name to project liberty, inc. During the year.”

Form 990, Part VI, Section A, Line 6

“Frank mccourt is the founding member.”

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

“The members of the corporation shall consist of the founding member and other such persons as may be appointed by him from time to time by written instrument delivered to the secretary of the corporation.”

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

“One-third of the entire board shall constitute a quorum for the transaction of business or of any specified item of business, and, except as otherwise provided by law or by the certificate of incorporation or these by-laws, the vote of a majority of the directors present at the meeting at the time of such vote, if a quorum is then present, shall be the act of the board.”

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

“The board will review the form 990 prior to submission to the irs.”

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

“No member of the board or any committee of the board shall participate directly or indirectly in the consideration of any matter in which he or she has a direct or indirect financial interest unless such interest is disclosed and a majority of the disinterested members of the board or committee approves in advance the member's participation in consideration of the matter. Neither the board nor any committee of the board shall approve any such member's participation in the consideration of any matter that is otherwise prohibited by law.”

Form 990, Part VI, Section C, Line 19

“These documents are available for public inspection upon request.”

Filing and Contact Details

Filer

Filer Name
Project Liberty Inc
EIN
87-3213298
Phone
2123141900
Address
888 SEVENTH AVENUE 16TH FLOOR, NEW YORK, NY 10106

Signing Officer

Name
Joseph Riley
Title
Treasurer
Phone
2123141900
Signed
2022-10-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frank Mccourt
Formed
2021
Legal Domicile
De
Voting Board Members
1
Independent Board Members
1
Employees
0
Volunteers
4

Preparer

Firm
Rsm US Llp
Address
1250 H STREET SUITE 700, WASHINGTON, DC 20005
Preparer
Elizabeth W Heller
Phone
2022932200
Raw XML Appendix296 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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IRS990/MissionDesc0THE PURPOSE OF PROJECT LIBERTY, INC. IS TO PROMOTE THE ADVANCEMENT AND USE OF INFORMATION TECHNOLOGY FOR THE COMMON GOOD OF HUMANITY IN SUPPORT OF SUSTAINABLE DEMOCRACY AND A MORE EQUITABLE ECONOMY.
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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0PROJECT LIBERTY, INC. IS FILING ITS INITIAL RETURN FOR THE 2021 SHORT YEAR BEGINNING JANUARY 28, 2021 AND ENDING DECEMBER 31, 2021.
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0GRANT RECIPIENTS WILL BE SELECTED AFTER A REVIEW OF GRANT APPLICATIONS BY THE BOARD OF DIRECTORS, CAREFUL EVALUATION BY THE BOARD OF THE USE OF THE PROPOSED GRANT, AND A DETERMINATION BY THE BOARD THAT THE USE OF THE PROPOSED GRANT WILL SUPPORT THE TAX-EXEMPT PURPOSES OF THE ORGANIZATION. THE ORGANIZATION WILL ENTER INTO GRANT AGREEMENTS WITH RECIPIENTS, WHICH AGREEMENTS WILL REQUIRE PERIODIC REPORTS ON THE USE OF FUNDS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0JOSEPH WHITE, JOSEPH RILEY, AND SHEHERAZADE SEMSAR-DE BOISSESON HAVE BUSINESS RELATIONSHIPS WITH FRANK MCCOURT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION CHANGED ITS NAME TO PROJECT LIBERTY, INC. DURING THE YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2FRANK MCCOURT IS THE FOUNDING MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE MEMBERS OF THE CORPORATION SHALL CONSIST OF THE FOUNDING MEMBER AND OTHER SUCH PERSONS AS MAY BE APPOINTED BY HIM FROM TIME TO TIME BY WRITTEN INSTRUMENT DELIVERED TO THE SECRETARY OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ONE-THIRD OF THE ENTIRE BOARD SHALL CONSTITUTE A QUORUM FOR THE TRANSACTION OF BUSINESS OR OF ANY SPECIFIED ITEM OF BUSINESS, AND, EXCEPT AS OTHERWISE PROVIDED BY LAW OR BY THE CERTIFICATE OF INCORPORATION OR THESE BY-LAWS, THE VOTE OF A MAJORITY OF THE DIRECTORS PRESENT AT THE MEETING AT THE TIME OF SUCH VOTE, IF A QUORUM IS THEN PRESENT, SHALL BE THE ACT OF THE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD WILL REVIEW THE FORM 990 PRIOR TO SUBMISSION TO THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6NO MEMBER OF THE BOARD OR ANY COMMITTEE OF THE BOARD SHALL PARTICIPATE DIRECTLY OR INDIRECTLY IN THE CONSIDERATION OF ANY MATTER IN WHICH HE OR SHE HAS A DIRECT OR INDIRECT FINANCIAL INTEREST UNLESS SUCH INTEREST IS DISCLOSED AND A MAJORITY OF THE DISINTERESTED MEMBERS OF THE BOARD OR COMMITTEE APPROVES IN ADVANCE THE MEMBER'S PARTICIPATION IN CONSIDERATION OF THE MATTER. NEITHER THE BOARD NOR ANY COMMITTEE OF THE BOARD SHALL APPROVE ANY SUCH MEMBER'S PARTICIPATION IN THE CONSIDERATION OF ANY MATTER THAT IS OTHERWISE PROHIBITED BY LAW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THESE DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST.
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0420714325
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0RSM US LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01250 H STREET SUITE 700
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WASHINGTON
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0DC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd020005
ReturnHeader/PreparerPersonGrp/PhoneNum02022932200
ReturnHeader/PreparerPersonGrp/PreparationDt02022-10-03
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ELIZABETH W HELLER
ReturnHeader/ReturnTs02022-10-03T10:59:21-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0JOSEPH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RILEY
ReturnHeader/TaxPeriodBeginDt02021-01-28
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
$300,000
Liabilities
$0
Net assets
$300,000
Revenue
$5,000,000
Expenses
$4,700,000
Net income
$300,000
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$7.47$26.2$18.7$26.6$6.07$20.5
2023Detailed filing. Detailed filing data is available for this year.$6.24$45.5$39.2$15.0$9.40$5.65
2022Detailed filing. Detailed filing data is available for this year.$1.26$46.1$44.9$13.8$39.1$25.3
2021Detailed filing. Detailed filing data is available for this year.$0.30$0.00$0.30$5.00$4.70$0.30