Civic Intelligence

Open Community Foundation

990 • Fiscal year 2023 • EIN 87-3982059

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 04, 2024

Organization ProfileN/A
873 44th AveSan Francisco, CA 94121

(650) 804-8081

Siviq Scores

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

Liabilities / Assets

13th percentile

0.00x

Higher debt load relative to assets than 13% of similar nonprofits.

2023 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

14th percentile

0.00x

Higher debt load relative to revenue than 14% of similar nonprofits.

2023 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2023

Net Margin

82nd percentile

47%

Higher net margin than 82% of similar nonprofits.

2023 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

59th percentile

$201,699

Higher top officer pay than 59% of similar nonprofits.

Top officer pay equals 32.5% of source-year revenue.

2023 filings • 501(c)4 • $10M-$25M nonprofits • Source year 2023

Asset Growth

43rd percentile

2.1%

Faster asset growth than 43% of similar nonprofits.

2023 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

1st percentile

-96%

Faster revenue growth than 1% of similar nonprofits.

2023 filings • 501(c)4 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets13th percentile

Assets

Up

$14,380,792

Up $290,366 (+2.1%) from 2022

Net Assets

Up

$14,379,682

Up $289,256 (+2.1%) from 2022

Liabilities

Up

$1,110

Up $1,110 from 2022

Revenue And Expenses
Liabilities / Revenue14th percentileNet Margin82nd percentile

Revenue

Down

$621,447

Down $13,597,241 (-96%) from 2022

Expenses

Up

$332,191

Up $252,754 (+318%) from 2022

Net Income

Down

$289,256

Down $13,849,995 (-98%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

$20M$15M$10M$5.0M$0Assets 2022: $14,090,426Liabilities 2022: $0Net Assets 2022: $14,090,4262022Assets 2023: $14,380,792Liabilities 2023: $1,110Net Assets 2023: $14,379,6822023Assets 2024: $15,794,563Liabilities 2024: $2,183Net Assets 2024: $15,792,3802024

Highlighted filing

2023

Assets$14,380,792
Liabilities$1,110
Net Assets$14,379,682
Open 2023 Filing

Operations Trend

Revenue Growth1st percentile

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

$15M$10M$5.0M$0Revenue 2022: $14,218,688Expenses 2022: $79,437Net Income 2022: $14,139,2512022Revenue 2023: $621,447Expenses 2023: $332,191Net Income 2023: $289,2562023Revenue 2024: $1,901,487Expenses 2024: $1,883,126Net Income 2024: $18,3612024

Highlighted filing

2023

Revenue$621,447
Expenses$332,191
Net Income$289,256
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 4, 2024
Return Version
2023v5.1
Gross Receipts
$621,447
Mission and Program Overview

Mission

The mission of the open community foundation is to create a global, open, and decentralized social platform where people own and control their identities, content, and communities, independently from the apps and services they choose to use.

The purpose of the corporation is to further the common good and general welfare by creating a global, open, and decentralized social platform that promotes users' happiness and wellbeing and where users own and control their identities, content, and communities.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$8,466,552$12,895,117▲ $4,428,565
Savings and Temporary Cash Investments$5,522,363$0▼ $5,522,363
Investments Other Securities$0$1,394,218▲ $1,394,218
Cash and Non-Interest-Bearing Accounts$101,511$91,457▼ $10,054
Total Assets$14,090,426$14,380,792▲ $290,366
Liabilities
Accounts Payable and Accrued Expenses$0$1,110▲ $1,110
Total Liabilities$0$1,110▲ $1,110
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$14,090,426$14,379,682▲ $289,256
Total Net Assets Fund Balance$14,090,426$14,379,682▲ $289,256
Total Liabilities and Net Assets / Fund Balance$14,090,426$14,380,792▲ $290,366

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$1,394,218--
Compensation and Service Providers
Top Officer Pay59th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Suren SamarchyanChairman and CEOFT$201,699$201,699

Board Members and Trustees

NameTitle
Niraj ShethPresident
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$621,447
Other Revenue
$0
Change in Net Assets
$289,256
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$246,389
Other Expenses$85,802
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$151,274$50,425-$201,699
Other Salaries and Wages$33,518$11,172-$44,690
Fees for Services Other$23,218$7,739-$30,957
Fees for Services Legal$18,281$6,094-$24,375
Office Expenses$18,168$6,056-$24,224
Conferences and Meetings$1,196$398-$1,594
Travel$729$243-$972
Other Expenses$142$47-$189
Total Functional Expenses$249,144$83,047$0$332,191
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 4

“During the year the foundation introduced the concept of members to support the mission of the foundation. Per the updated bylaws, there will be two categories of membership, class a and class b. Class a members consists of the board of directors elected on march 23, 2023. Any class a members elected after may 10, 2023, must be elected by a majority of existing class a members at the time of election. Class a members have the right to vote on amending the articles of incorporation, the bylaws and dissolving the corporation as well as electing and removing members of the board of directors. Class b members shall have voting rights for members of the board of directors but shall not have rights to vote on matters of amending the articles of incorporation, bylaws, or dissolution and winding up of the corporation.”

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

“The form 990 is distributed to and reviewed by the board prior to filing.”

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

“The conflict of interest policy is monitored by the board periodically when necessary.”

Form 990, Part VI, Section C, Line 19

“These documents are not currently available to the public.”

Filing and Contact Details

Filer

Filer Name
Open Community Foundation
EIN
87-3982059
Phone
6508048081
Address
873 44TH AVE, SAN FRANCISCO, CA 94121

Signing Officer

Name
Suren Samarchyan
Title
Chairman and CEO
Phone
6508048081
Signed
2024-11-04
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Suren Samarchyan
Formed
2021
Legal Domicile
Va
Voting Board Members
1
Independent Board Members
0
Employees
1
Volunteers
2

Preparer

Firm
Moss Adams Llp
Address
6565 AMERICAS PARKWAY NE STE 600, ALBUQUERQUE, NM 87110
Preparer
Pamela Alexanderson
Phone
5058787200
Raw XML Appendix303 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0DURING THE YEAR THE FOUNDATION INTRODUCED THE CONCEPT OF MEMBERS TO SUPPORT THE MISSION OF THE FOUNDATION. PER THE UPDATED BYLAWS, THERE WILL BE TWO CATEGORIES OF MEMBERSHIP, CLASS A AND CLASS B. CLASS A MEMBERS CONSISTS OF THE BOARD OF DIRECTORS ELECTED ON MARCH 23, 2023. ANY CLASS A MEMBERS ELECTED AFTER MAY 10, 2023, MUST BE ELECTED BY A MAJORITY OF EXISTING CLASS A MEMBERS AT THE TIME OF ELECTION. CLASS A MEMBERS HAVE THE RIGHT TO VOTE ON AMENDING THE ARTICLES OF INCORPORATION, THE BYLAWS AND DISSOLVING THE CORPORATION AS WELL AS ELECTING AND REMOVING MEMBERS OF THE BOARD OF DIRECTORS. CLASS B MEMBERS SHALL HAVE VOTING RIGHTS FOR MEMBERS OF THE BOARD OF DIRECTORS BUT SHALL NOT HAVE RIGHTS TO VOTE ON MATTERS OF AMENDING THE ARTICLES OF INCORPORATION, BYLAWS, OR DISSOLUTION AND WINDING UP OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE FORM 990 IS DISTRIBUTED TO AND REVIEWED BY THE BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS MONITORED BY THE BOARD PERIODICALLY WHEN NECESSARY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THESE DOCUMENTS ARE NOT CURRENTLY AVAILABLE TO THE PUBLIC.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 4
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 C, LINE 19
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ReturnHeader/Filer/USAddress/CityNm0SAN FRANCISCO
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CA
ReturnHeader/Filer/USAddress/ZIPCd094121
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0910189318
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MOSS ADAMS LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06565 AMERICAS PARKWAY NE STE 600
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0ALBUQUERQUE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NM
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd087110
ReturnHeader/PreparerPersonGrp/PhoneNum05058787200
ReturnHeader/PreparerPersonGrp/PreparationDt02024-11-04
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0PAMELA ALEXANDERSON
ReturnHeader/ReturnTs02024-11-06T13:54:43-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$14,380,792
Liabilities
$1,110
Net assets
$14,379,682
Revenue
$621,447
Expenses
$332,191
Net income
$289,256
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$15.8$0.00$15.8$1.90$1.88$0.02
2023Detailed filing. Detailed filing data is available for this year.$14.4$0.00$14.4$0.62$0.33$0.29
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.1$0.00$14.1$14.2$0.08$14.1