Liabilities / Assets
45th percentile
Tied with the lowest-debt nonprofits in its peer group.
Web3 ID Coalition Inc
990 • Fiscal year 2022 • EIN 88-3761302
Siviq Scores
Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.
0.00x
Liabilities / Revenue
45th percentile
Tied with the lowest-debt nonprofits in its peer group.
Net Margin
97th percentile
Higher net margin than 97% of similar nonprofits.
Top Officer Pay
86th percentile
Higher top officer pay than 86% of similar nonprofits.
Top officer pay equals 12.2% of source-year revenue.
Asset Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Revenue Growth
Score unavailable
No earlier valid filing was available within the previous three public years.
Balance Sheet
Assets
$232,722
No earlier filing loaded for comparison.
Net Assets
$232,722
No earlier filing loaded for comparison.
Liabilities
$0
No earlier filing loaded for comparison.
Revenue And Expenses
Revenue
$393,000
No earlier filing loaded for comparison.
Expenses
$160,278
No earlier filing loaded for comparison.
Net Income
$232,722
No earlier filing loaded for comparison.
Historical Trend
Jump To
Filing Snapshot
- Filing Period
- Jan 1, 2022 to Dec 31, 2022
- Signed
- Jun 21, 2023
- Return Version
- 2022v5.0
- Gross Receipts
- $393,000
Mission and Program Overview
Mission
To advocate for public policy that gives individuals, not corporations, ownership of their digital identities in the transition to a blockchain-based Web3 world and beyond. We envision a future in which individuals have control over their digital identities, empowering them to choose which personal data they want to share, monetize, or keep private, for greater economic opportunity, freedom, and security.
Balance Sheet Detail
| Line | Beginning | End | Change |
|---|---|---|---|
| Assets | |||
| Cash and Non-Interest-Bearing Accounts | $0 | $232,722 | ▲ $232,722 |
| Cap Stk Tr Prin Current Funds | $0 | $232,722 | ▲ $232,722 |
| Savings and Temporary Cash Investments | $0 | $0 | → $0 |
| Accounts Receivable | $0 | $0 | → $0 |
| Other Notes and Loans Receivable, Net | $0 | $0 | → $0 |
| Pledges and Grants Receivable | $0 | $0 | → $0 |
| Receivable From Disqualified Prsn | $0 | $0 | → $0 |
| Receivables From Officers Etc | $0 | $0 | → $0 |
| Investments Other Securities | $0 | $0 | → $0 |
| Investments Program Related | $0 | $0 | → $0 |
| Investments in Publicly Traded Securities | $0 | $0 | → $0 |
| Land, Buildings, and Equipment, Net | $0 | - | - |
| Pd in Cap Srpls Land Bldg Eqp Fund | $0 | $0 | → $0 |
| Rtn Earn Endowment Incm Other Fnds | $0 | $0 | → $0 |
| Intangible Assets | $0 | $0 | → $0 |
| Inventories for Sale or Use | $0 | $0 | → $0 |
| Loans From Officers Directors | $0 | $0 | → $0 |
| Prepaid Expenses and Deferred Charges | $0 | $0 | → $0 |
| Total Assets | $0 | $232,722 | ▲ $232,722 |
| Other Assets Total | $0 | $0 | → $0 |
| Liabilities | |||
| Accounts Payable and Accrued Expenses | $0 | $0 | → $0 |
| Grants Payable | $0 | $0 | → $0 |
| Mortgage Notes Payable Secured by Investment Property | $0 | $0 | → $0 |
| Unsecured Notes Loans Payable | $0 | $0 | → $0 |
| Other Liabilities | $0 | - | - |
| Deferred Revenue | $0 | $0 | → $0 |
| Escrow Account Liability | $0 | $0 | → $0 |
| Tax Exempt Bond Liabilities | $0 | $0 | → $0 |
| Total Liabilities | $0 | $0 | → $0 |
| Net Assets / Fund Balance | |||
| Total Net Assets Fund Balance | $0 | $232,722 | ▲ $232,722 |
| Total Liabilities and Net Assets / Fund Balance | $0 | $232,722 | ▲ $232,722 |
Compensation and Service Providers
Employees
| Name | Title | Full / Part Time | Base | Total |
|---|---|---|---|---|
| Hudson Hollister | Secretary | PT | $48,000 | $48,000 |
Board Members and Trustees
| Name | Title |
|---|---|
| Sena Loyd | President |
| Brian Giglio | Director |
| Lee Weiss | Treasurer |
Revenue and Support
Revenue Composition
- Contributions and Grants
- $393,000
- Program Service Revenue
- $0
- Investment Income
- $0
- Other Revenue
- $0
- All Other Contributions
- $393,000
- Change in Net Assets
- $232,722
Expenses and Functional Allocation
Major Expense Lines
| Line Item | Amount |
|---|---|
| Other Expenses | $160,278 |
| Grants and Similar Amounts Paid | $0 |
| Professional Fundraising Fees | $0 |
| Salaries, Compensation, and Employee Benefits | $0 |
| Total Fundraising Expense | $0 |
Functional Expense Allocation
| Line Item | Program | Management | Fundraising | Total |
|---|---|---|---|---|
| Advertising | - | - | - | $90,662 |
| Fees for Services Management | - | - | - | $48,000 |
| Fees for Services Legal | - | - | - | $12,409 |
| Other Expenses | - | - | - | $5,000 |
| Travel | - | - | - | $2,925 |
| Conferences and Meetings | - | - | - | $625 |
| Office Expenses | - | - | - | $378 |
| Information Technology | - | - | - | $279 |
| Total Functional Expenses | $0 | $0 | $0 | $160,278 |
Fundraising, Events, and Gaming
- Fundraising activities
- No
- Gaming activities
- No
- Professional fundraiser used
- No
Fundraising and Gaming Totals
| Line Item | Amount |
|---|---|
| Professional Fundraising Fees | $0 |
Political and Lobbying Activity
- Political campaign activity
- No
- In-house lobbying only
- Yes
- Subject to proxy tax
- Yes
Insider Transactions and Loans
Interested-Person Transactions
| Interested Party | Relationship | Description | Shared Revenue | Amount |
|---|---|---|---|---|
| Hudson Hollister | Consultant and Board Member | Consultant for formation of the Web3 ID Coalition | No | $48,000 |
Loans and Receivables
| Line Item | Beginning | End | Change |
|---|---|---|---|
| Loans from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
| Receivables from Disqualified Persons | $0 | $0 | → $0 |
| Receivables from Officers, Directors, Trustees, and Key Employees | $0 | $0 | → $0 |
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
- Yes
- 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
- 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 6
“The organization will have due paying members who will be able to have the power to elect or appoint one or more members of the governing body. Currently the initial board of directors functions in this role until there are paying members with executive voting rights.”
Form 990, Part VI, Section A, Line 7A
“The organization will have due paying members who will be able to have the power to elect or appoint one or more members of the governing body. Currently the initial board of directors functions in this role until there are paying members with executive voting rights.”
Form 990, Part VI, Section B, Line 11B
“Executive officers review.”
Form 990, Part VI, Section B, Line 12C
“Each director and officer, before taking his position, shall disclose in writing to the Chair a list of all businesses or other organizations of which he is an officer, director, shareholder, member, owner or employee, or for which he acts as an agent and with which the Corporation has or might reasonably in the future enter into a relationship or a transaction in which the director or officer would have conflicting interests. If any matter should come before the Board or any of its committees in such a way to give rise to a conflict of interest, the affected director shall make known to the Board the potential conflict and shall answer any questions that might be asked of him or her. The Board shall determine whether or not a conflict exists. If the Board determines that a conflict does exist, the affected director shall be excluded from voting. Any director may raise an issue as to whether or not another director has a conflict of interest with respect to any matter coming before the Board. In such case, the Board shall decide whether or not a conflict exists. If the Board determines that a conflict does exist, the affected director shall be excluded from voting. The affected director shall be counted in determining the quorum for the meeting except as provided herein.”
Form 990, Part VI, Section C, Line 19
“2022 is the first tax year of the organization. Governing documents, conflict of interest policy, and financial statements will be made available to the public upon request.”
Filing and Contact Details
Filer
- Filer Name
- Web3 Id Coalition Inc
- EIN
- 88-3761302
- Phone
- 9162209858
- Address
- 1455 Pennsylvania Ave NW Suite 400, Washington DC, DC 20004
Signing Officer
- Name
- Sena Loyd
- Title
- President
- Phone
- 9162209858
- Signed
- 2023-06-21
Organization Details
- Principal Officer
- Sena Loyd
- Formed
- 2022
- Legal Domicile
- Dc
- Voting Board Members
- 3
- Independent Board Members
- 3
- Employees
- 0
- Volunteers
- 4
Supplemental Narrative
Additional Explanations
Form 990, Part III, Line 2
“2022 was the first year in operation. All of our program services are new. We strive to a) promote and enhance the Web3 ID Industry; b) advocate for reforms which would recognize the value of Web3 ID technologies; c) promote relationships for the interchange of ideas and dissemination of materials related to the Web3 ID industry; d) to assist other organizations in the pursuit of similar purposes.”
Raw XML Appendix390 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/ExpenseAmt | 0 | 44500 |
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| IRS990/FeesForServicesManagementGrp/TotalAmt | 0 | 48000 |
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| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 1 | 10 |
| IRS990/Form990PartVIISectionAGrp/AverageHoursPerWeekRt | 2 | 5 |
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| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 1 | X |
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| IRS990/Form990PartVIISectionAGrp/IndividualTrusteeOrDirectorInd | 3 | X |
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| IRS990/Form990PartVIISectionAGrp/OfficerInd | 2 | X |
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| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 1 | 0 |
| IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt | 2 | 0 |
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| IRS990/Form990PartVIISectionAGrp/PersonNm | 1 | Sena Loyd |
| IRS990/Form990PartVIISectionAGrp/PersonNm | 2 | Lee Weiss |
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| IRS990/Form990PartVIISectionAGrp/TitleTxt | 2 | Treasurer |
| IRS990/Form990PartVIISectionAGrp/TitleTxt | 3 | Director |
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| IRS990/MissionDesc | 0 | To advocate for public policy that gives individuals, not corporations, ownership of their digital identities in the transition to a blockchain-based Web3 world and beyond. We envision a future in which individuals have control over their digital identities, empowering them to choose which personal data they want to share, monetize, or keep private, for greater economic opportunity, freedom, and security. |
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| IRS990/OtherExpensesGrp/Desc | 0 | Membership in Data Foundation |
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| IRS990/ProgSrvcAccomActy2Grp/Desc | 0 | b) advocate for reforms which would recognize the value of Web3 ID (activity: travel for educational purposes) |
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| IRS990/ProgSrvcAccomActy3Grp/Desc | 0 | c) promote relationships for the interchange of ideas and technologies; dissemination of materials related to the Web3 ID industry (activity: Web3 ID Forum; marketing expenses) |
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| IRS990/ProgSrvcAccomActyOtherGrp/Desc | 0 | d) to assist other organizations in the pursuit of similar purposes. (activity: direct member benefits) |
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| IRS990ScheduleC/SupplementalInformationDetail/ExplanationTxt | 0 | No expenses. |
| IRS990ScheduleC/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Schedule C, Part I-A, Line 2 |
| IRS990/ScheduleJRequiredInd | 0 | 0 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm | 0 | Hudson Hollister |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt | 0 | Consultant and Board Member |
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| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionAmt | 0 | 48000 |
| IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc | 0 | Consultant for formation of the Web3 ID Coalition |
| IRS990/ScheduleORequiredInd | 0 | 1 |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 0 | 2022 was the first year in operation. All of our program services are new. We strive to a) promote and enhance the Web3 ID Industry; b) advocate for reforms which would recognize the value of Web3 ID technologies; c) promote relationships for the interchange of ideas and dissemination of materials related to the Web3 ID industry; d) to assist other organizations in the pursuit of similar purposes. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 1 | The organization will have due paying members who will be able to have the power to elect or appoint one or more members of the governing body. Currently the initial board of directors functions in this role until there are paying members with executive voting rights. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 2 | The organization will have due paying members who will be able to have the power to elect or appoint one or more members of the governing body. Currently the initial board of directors functions in this role until there are paying members with executive voting rights. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 3 | Executive officers review. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 4 | Each director and officer, before taking his position, shall disclose in writing to the Chair a list of all businesses or other organizations of which he is an officer, director, shareholder, member, owner or employee, or for which he acts as an agent and with which the Corporation has or might reasonably in the future enter into a relationship or a transaction in which the director or officer would have conflicting interests. If any matter should come before the Board or any of its committees in such a way to give rise to a conflict of interest, the affected director shall make known to the Board the potential conflict and shall answer any questions that might be asked of him or her. The Board shall determine whether or not a conflict exists. If the Board determines that a conflict does exist, the affected director shall be excluded from voting. Any director may raise an issue as to whether or not another director has a conflict of interest with respect to any matter coming before the Board. In such case, the Board shall decide whether or not a conflict exists. If the Board determines that a conflict does exist, the affected director shall be excluded from voting. The affected director shall be counted in determining the quorum for the meeting except as provided herein. |
| IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt | 5 | 2022 is the first tax year of the organization. Governing documents, conflict of interest policy, and financial statements will be made available to the public upon request. |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 0 | Form 990, Part III, Line 2 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 1 | Form 990, Part VI, Section A, Line 6 |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 2 | Form 990, Part VI, Section A, Line 7a |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 3 | Form 990, Part VI, Section B, Line 11b |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 4 | Form 990, Part VI, Section B, Line 12c |
| IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc | 5 | Form 990, Part VI, Section C, Line 19 |
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| IRS990/WebsiteAddressTxt | 0 | www.Web3IDCoalition.org |
| IRS990/WhistleblowerPolicyInd | 0 | 1 |
| ReasonableCauseExplanation/ExplanationTxt | 0 | I am writing to explain the circumstances surrounding the inadvertent late filing of our nonprofit - Web3 ID Coalition - Form 990 for the tax year 2022. We apologize for any inconvenience caused and assure you that immediate corrective actions were taken as soon as the oversight was discovered. Due to an unfortunate oversight in our internal processes, we inadvertently failed to submit the Form 990 by the original filing deadline. This is our first 990 submission. This oversight was discovered on 6/15/2022, promptly triggering an internal review of our records and filing requirements. Upon discovery, our organization acted swiftly to rectify the situation. The necessary financial information was gathered, reviewed, and documented. We diligently prepared the required forms, and we successfully filed the Form 990 with the IRS on 6/22/2023, within one week of identifying the oversight. We genuinely regret this delay in filing and want to assure you that we take our tax obligations seriously. We have implemented additional checks and safeguards in our processes to prevent similar oversights in the future. Our organization remains fully committed to compliance with all regulatory requirements and maintaining transparent financial reporting. We kindly request your understanding and consideration regarding any penalties or fees that may be associated with this late filing. We are prepared to address any such matters promptly and in accordance with IRS guidelines. If you require any further information or documentation, please do not hesitate to contact me directly at 916-220-9858 or via email at [email protected] . We are fully cooperative and committed to resolving any outstanding matters related to this late filing. Again, Thank you for your attention to this matter, and we appreciate your understanding. |
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| ReturnHeader/BuildTS | 0 | 2023-04-26 12:10:37Z |
| ReturnHeader/BusinessOfficerGrp/PersonNm | 0 | Sena Loyd |
| ReturnHeader/BusinessOfficerGrp/PersonTitleTxt | 0 | President |
| ReturnHeader/BusinessOfficerGrp/PhoneNum | 0 | 9162209858 |
| ReturnHeader/BusinessOfficerGrp/SignatureDt | 0 | 2023-06-21 |
| ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt | 0 | WEB3 ID COALITION INC |
| ReturnHeader/Filer/BusinessNameControlTxt | 0 | WEB3 |
| ReturnHeader/Filer/EIN | 0 | 883761302 |
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| ReturnHeader/ReturnTs | 0 | 2023-06-21T21:45:50-07:00 |
| ReturnHeader/ReturnTypeCd | 0 | 990 |
| ReturnHeader/TaxPeriodBeginDt | 0 | 2022-01-01 |
| ReturnHeader/TaxPeriodEndDt | 0 | 2022-12-31 |
| ReturnHeader/TaxYr | 0 | 2022 |
Document Assets
No mirrored PDF or thumbnail assets are attached yet.
Filings
Displayed year
2022 • Form 990Detailed filing. Detailed filing data is available for this year.
- Assets
- $232,722
- Liabilities
- $0
- Net assets
- $232,722
- Revenue
- $393,000
- Expenses
- $160,278
- Net income
- $232,722