Sovrin Foundation

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2016

Legal Domicile

Principal Officer

Stephen Curran

Tax Period

2024-01-01 to 2024-12-31

Sovrin Foundation, founded in 2016, is a micro nonprofit in the Community Improvement sector that reported $22K in total revenue in fiscal year 2024. Revenue fell 76% from the prior year — a significant decline worth monitoring. Expenses of $110K exceeded revenue, resulting in a 390% operating deficit.

Mission

The purpose of the foundation (Sovrin) is to provide a global public utility for self-sovereign (i.e. user controlled) internet identity that streamlines interactions and enables stronger levels of trust among all individuals, organizations and things.

Program Service Accomplishments

Program 1

Expenses: $36,961 Revenue: $21,967

Network Development and Operations:1. Exploited the Sovrin Network for public use and billed for ledger write activity2. Operated network providing oversight and coordination among the Stewards...

Network Development and Operations:1. Exploited the Sovrin Network for public use and billed for ledger write activity2. Operated network providing oversight and coordination among the Stewards operating nodes

Program 2

Expenses: $26,108

Network Growth:1. ATTENDED AND PRESENTED INFORMATION AT MANY CONFERENCES TO EDUCATE AND ENCOURAGEDEVELOPMENT AND ADOPTION OF SOVRIN NETWORK.2. CONTINUED TO CULTIVATE OPEN SOURCE SOFTWARE DEVELOPMENT COMMUNITY WITHIN LINUXFOUNDATION'S HYPERLEDGER INDY, HYPERLEDGER ANONCREDS, AND HYPERLEDGER ARIES.3. UPGRADED AND ADDED TO FOUNDATION WEBSITE TO ATTRACT STEWARDS AND SOFTWAREDEVELOPMENT COMMUNITY AND TO EDUCATE ABOUT THE VIRTUES OF SELF-SOVEREIGN IDENTITYAND THE SOVRIN NETWORK.4. PUBLISHED ORIGINAL CONTENT TO HELP EDUCATE THE TECHNOLOGY COMMUNITY ABOUTSELF-SOVEREIGN IDENTITY.5. IMPROVED THE OPERATIONAL EFFICIENCY FOR ORGANIZATIONS TO LEARN ABOUT, REQUEST,AND RECEIVE ACCESS TO THE SOVRIN UTILITY TO ENABLE ITS USE FOR SELF-SOVEREIGNIDENTITY INITIATIVES.BY MAKING FOUNDATIONS TECHNOLOGY OPEN-SOURCE IT IS AVAILABLE TO ALL TO USE WITHOUTPAYING A LICENSE FEE TO THE FOUNDATION. THIS PROMOTES OUR MISSION TO PROVIDE AGLOBAL PUBLIC UTILITY FOR SELF-SOVEREIGN IDENTITY.6. SUPPORTED THE GROWTH OF THE HYPERLEDGER INDY COMMUNITY BY ACTING AS A CONVENOR OF 3 SUMMITS.

Program 3

Identity for all:1. DEVELOPED WRITTEN RESOURCES TO ASSIST HUMANITARIAN ORGANIZATIONS IN ADOPTINGSELF-SOVEREIGN IDENTITY2. DIRECTLY CONTRIBUTED TO THE OPERATIONS OF THE HYPERLEDGER ANONCREDS PROJECT TO EXPAND THE USE OF THESE MAXIMALLY PRIVACY-PRESERVING CREDENTIALS THAT ARE IMPORTANT FOR ENABLING IDENTITY FOR ALL.3. DIRECTLY CONTRIBUTED TO THE DEVELOPMENT AND RELEASE OF A NEW, UPGRADED, OPENSOURCE VERSION OF HYPERLEDGER INDY.4. DIRECTLY CONTRIBUTED TO THE DEVELOPMENT AND RELEASE OF FIXES FOR SECURITYVULNERABILITIES IDENTIFIED IN THE OPEN SOURCE VERSION OF HYPERLEDGER INDY.5. PUBLISHED THE SOVRIN ECOSYSTEM GOVERNANCE FRAMEWORK (SEGF) V3.16. PUBLISHED THE SOVRIN UTILITY GOVERNANCE FRAMEWORK V3.17. PUBLISHED UPDATE GUARDIANSHIP WHITEPAPER ON GUARDIANSHIP IN SELF-SOVEREIGN IDENTITY V28. DEVELOPED AND PUBLISHED RULES TO ENFORCE LEGAL AND FINANCIAL ACCOUNTABILITY INTHE SOVRIN SELF-SOVEREIGN IDENTITY ECOSYSTEM.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $30

Program Service Revenue $22,387

Investment Income $7

Other Revenue $0

TOTAL REVENUE $22,424

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $12

Program Expenses $63,069

Other Expenses $109,927

TOTAL EXPENSES $109,927

Year-over-Year Comparison

	2024	2023	Change
Revenue	$22,424	$93,574	-0.8%
Expenses	$109,927	$83,403	+0.3%
Net Income	$-87,503	$10,171	-9.6%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

N/A

Volunteers

100

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Stephen Curran	Trustee/Chair	2.00	Officer Director	$0	$0	$0
Andrew Smith	Trustee	2.00	Officer Director	$0	$0	$0
Andre Kudra	Trustee	2.00	Director	$0	$0	$0
Philippe Page	Trustee	2.00	Director	$0	$0	$0
Sankarshan Mukhopadhyay	Trustee/V Chair	2.00	Officer Director	$0	$0	$0
Jamie Stirling	Trustee	2.00	Officer Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	$22,424	$109,927	$35,242	$-87,503
2023	$93,574	$83,403	$98,745	$10,171
2022	$120,238	$105,857	$62,436	$14,381
2021	$90,718	$133,497	$29,914	$-42,779
2020	$777,269	$967,632	$60,001	$-190,363