Zcash Foundation

EIN: 820707962 501(c)(3) Science & Technology

McLean, VA

Total Revenue
$4,745,458
Total Expenses
$9,916,662
Total Assets
$16,155,832
Net Assets
$16,010,266
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
DE
Principal Officer
Andrew Miller
Phone
5714185390
Tax Period
2023-01-01 to 2023-12-31

Zcash Foundation, founded in 2017, is a community nonprofit in the Science & Technology sector that reported $4.7M in total revenue in fiscal year 2023. Revenue fell 63% from the prior year — a significant decline worth monitoring. Expenses of $9.9M exceeded revenue, resulting in a 109% operating deficit.

Mission

The Zcash Foundation is a public charity that builds financial privacy infrastructure for the public good, primarily serving the users of the Zcash protocol and blockchain. The Foundation also supports other applications of zero-knowledge cryptography, as well as other approaches to private cryptocurrency.

Program Service Accomplishments

Program 1
Expenses: $4,983,751

Zcash Community Grants (ZCG, formerly Zcash Open Major Grants ZOMG) is a technical advisory board that constitutes a committee of the Zcash Foundation, under its bylaws. Grants are chosen by a...

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Zcash Community Grants (ZCG, formerly Zcash Open Major Grants ZOMG) is a technical advisory board that constitutes a committee of the Zcash Foundation, under its bylaws. Grants are chosen by a committee of five members who are chosen by the Zcash Community Advisory Panel (ZCAP) in an open election. Funding for ZCG's activities is provided via the Dev Fund specified in ZIP 1014.

Program 2
Expenses: $1,689,577

Protocol & Governance: The Zcash protocol and the open network it powers is valuable, privacy-protecting Internet infrastructure; it should be developed and maintained by an open and diverse...

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Protocol & Governance: The Zcash protocol and the open network it powers is valuable, privacy-protecting Internet infrastructure; it should be developed and maintained by an open and diverse community of experts and enthusiasts. It is a tool for financial privacy available to the general public. The Zcash Foundation acts as a steward of the Zcash protocol, providing leadership and supporting its continued maintenance and improvement.

Program 3
Expenses: $1,341,011 Revenue: $18,254

Community: The Zcash Foundation supports the expansion of Zcash into a large and healthy community with diverse stakeholders, held accountable to our user-base in the broadest sense. Our goal is...

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Community: The Zcash Foundation supports the expansion of Zcash into a large and healthy community with diverse stakeholders, held accountable to our user-base in the broadest sense. Our goal is creating tools that help sustain open networks, which enable individuals to protect their privacy on their own terms. Privacy comprises both autonomy and consent, which are essential to human dignity and the healthy continuation of civil society.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $5,608,672
Program Service Revenue $18,254
Investment Income $-881,468
Other Revenue $0
TOTAL REVENUE $4,745,458

Expense Breakdown

Grants Paid $4,977,436
Salaries & Benefits $1,821,962
Fundraising Expenses $0
Program Expenses $9,019,673
Other Expenses $3,117,264
TOTAL EXPENSES $9,916,662

Year-over-Year Comparison

2023 2022 Change
Revenue $4,745,458 $12,972,220 -0.6%
Expenses $9,916,662 $7,098,547 +0.4%
Net Income $-5,171,204 $5,873,673 -1.9%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
6
Independent Members
5
Employees
6
Volunteers
N/A

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
3
$521,264
Total Directors
6
$292,519
Key Employees
0
$0
Highest Compensated
3
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Andrew Miller Chairman/Treasurer 0.50
Officer Director
$0 $0 $0
Peter Van Valkenburgh Director 0.50
Director
$0 $0 $0
Amber Baldet Director 0.50
Director
$0 $0 $0
Jay Verret Director 0.50
Director
$0 $0 $0
Martha Belcher Director 0.50
Director
$0 $0 $0
Jack Gavigan Executive Director 40.00
Officer Director
$292,519 $0 $292,519
Alex Bornstein Chief Operating Officer 40.00
Officer
$223,167 $5,578 $228,745
Deirdre Connolly Cryptography Engineer 40.00
Highest
$261,240 $7,265 $268,505
Danika Delano Operations Director 40.00
Highest
$120,083 $8,763 $128,846
Daniel Wolande Ecosystems Relations Manager 40.00
Highest
$106,006 $0 $106,006
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 No data No data No data No data
2023 $4,745,458 $9,916,662 $16,155,832 $-5,171,204
2023 $4,745,458 $9,916,662 $16,155,832 $-5,171,204
2022 $12,972,220 $7,098,547 $21,828,619 $5,873,673
2021 $26,447,593 $5,647,560 $32,799,974 $20,800,033
2020 $4,321,617 $2,818,733 $15,535,732 $1,502,884
2019 $6,505,470 $2,664,792 $8,831,719 $3,840,678
2018 $14,294,238 $1,171,302 $8,549,182 $13,122,936
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