STACKS OPEN INTERNET FOUNDATION

EIN: 850825452

Cary, NC

Total Revenue
$12,033,900
Total Expenses
$10,523,690
Total Assets
$34,326,779
Net Assets
$32,433,834
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Financial Trends

Organization Details

Formation Year
2021
Legal Domicile
NC
Principal Officer
BRITTANY LAUGHLIN
Phone
3142592063
Tax Period
2023-01-01 to 2023-12-31

STACKS OPEN INTERNET FOUNDATION, founded in 2021, is a mid-sized nonprofit that reported $12.0M in total revenue in fiscal year 2023. Revenue grew 13% year-over-year, indicating healthy expansion. Expenses of $10.5M left a modest 13% surplus.

Mission

THE ORGANIZATION'S MISSION IS TO SUPPORT THE DECENTRALIZED NETWORK AND COMMUNITY DEVELOPING OPEN-SOURCE AND PROGRAMMABLE TECHNOLOGY LEVERAGING THE HIGH-SECURITY OF THE PUBLIC BITCOIN PROTOCOL. WORKING WITH THE STACKS COMMUNITY, WE SUPPORT AND HELP BUILD THE ECOSYSTEM TO DRIVE VALUE AND UTILITY IN BUILDING OPEN-SOURCE AND SECURE TECHNOLOGY FOR THE PUBLIC. RESEARCH The Organization may support, design, conduct and publish research, potentially in collaboration with academics and institutions, or collaborate with institutions, organizations, or individuals already conducting research, related to a user-owned internet. All results of this research and/or development of related technology such as software or other innovations will be made available to the public gratis. Research results related to software will be made available through open source software publication, wherein all source code will be made available to the general public under free software licenses permitting redistributio

Program Service Accomplishments

Program 1
Expenses: $1,859,623

DEVELOPMENT EDUCATIONTHE ORGANIZATION OPERATES A WEBSITE PERTAINING TO A USER-OWNED INTERNET, STACKS, THE COMPUTING NETWORKS THAT POWER IT, AND RESEARCH AND TECHNOLOGIES THAT CAN BE INTEGRATED INTO...

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DEVELOPMENT EDUCATIONTHE ORGANIZATION OPERATES A WEBSITE PERTAINING TO A USER-OWNED INTERNET, STACKS, THE COMPUTING NETWORKS THAT POWER IT, AND RESEARCH AND TECHNOLOGIES THAT CAN BE INTEGRATED INTO THE NETWORK. STACKS IS A DIGITAL ASSET DESIGNED TO WORK AS A PUBLIC UTILITY TO ENABLE THE DEVELOPMENT OF SMART CONTRACTS ON BITCOIN. STACKS IS POWERED BY OPEN NETWORKS (ANYONE WITH AN INTERNET-CONNECTED COMPUTER CAN PARTICIPATE) THAT RUN ON TOP OF THE INTERNET. THESE NETWORKS DISTRIBUTE TO ALL PARTICIPANTS A CONTINUOUSLY UPDATED LEDGER ACCOUNTING FOR ALL TRANSACTIONS. NO PARTY ON THE NETWORK ACTS AS A CENTRALIZED CLEARINGHOUSE OR OTHERWISE HAS POWER TO STOP OR REDIRECT THE TRANSACTIONS OF ANY PARTICIPANT. THE ORGANIZATION EDUCATES THE PUBLIC REGARDING STACKS THROUGH A VARIETY OF POTENTIAL METHODS, INCLUDING DISSEMINATION OR PUBLICATION OF GUIDES, MANUALS, AND BLOGS, AMONG OTHER POSSIBLE RESOURCES. THESE MATERIALS ARE FREE ON THE ORGANIZATION'S WEBSITE. THESE MATERIALS PROVIDE EDUCTION ON A VARIETY OF TOPICS, INCLUDING THE BASICS OF STACKS, THE ROLE AND IMPORTANCE OF STACKS IN SOCIETY, FUTURE DEVELOPMENTS IN STACKS, AND THE NEED FOR ONGOING DEVELOPMENT.

Program 2
Expenses: $1,295,879

RESIDENTS RESEARCH AND DEVELOPMENT PROGRAMTHE ORGANIZATION MAY SUPPORT, DESIGN, CONDUCT AND PUBLISH RESEARCH, POTENTIALLY IN COLLABORATION WITH ACADEMICS AND INSTITUTIONS, OR COLLABORATE WITH...

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RESIDENTS RESEARCH AND DEVELOPMENT PROGRAMTHE ORGANIZATION MAY SUPPORT, DESIGN, CONDUCT AND PUBLISH RESEARCH, POTENTIALLY IN COLLABORATION WITH ACADEMICS AND INSTITUTIONS, OR COLLABORATE WITH INSTITUTIONS, ORGANIZATIONS, OR INDIVIDUALS ALREADY CONDUCTING RESEARCH, RELATED TO A USER-OWNED INTERNET. ALL RESULTS OF THIS RESEARCH AND/OR DEVELOPMENT OF RELATED TECHNOLOGY SUCH AS SOFTWARE OR OTHER INNOVATIONS WILL BE MADE AVAILABLE TO THE PUBLIC GRATIS. RESEARCH RESULTS RELATED TO SOFTWARE WILL BE MADE AVAILABLE THROUGH OPEN SOURCE SOFTWARE PUBLICATION, WHEREIN ALL SOURCE CODE WILL BE MADE AVAILABLE TO THE GENERAL PUBLIC UNDER FREE SOFTWARE LICENSES PERMITTING REDISTRIBUTION AND MODIFICATION OF THE ORIGINAL CODE.THE STACKS PROTOCOL (STACKS) IS A BLOCKCHAIN LINKED TO BITCOIN BY ITS CONSENSUS MECHANISM THAT SPANS THE TWO CHAINS, CALLED PROOF OF TRANSFER. THIS ENABLES STACKS TO LEVERAGE BITCOIN'S SECURITY AND ENABLES STACKS APPS TO USE BITCOIN'S STATE, DESPITE BEING A SEPARATE BLOCKCHAIN. STACKS POWERS DECENTRALIZED APPS THAT RUN ON THE STACKS BLOCKCHAIN INSTEAD OF A CENTRALIZED SERVER, ENABLING NEW USE CASES THAT COULDN'T EXIST BEFORE. LIKE BITCOIN, STACKS IS A DECENTRALIZED NETWORK. THERE ARE MANY INDIVIDUALS AND COMPANIES FROM ALL OVER THE WORLD THAT CONTRIBUTE TO AND BUILD ON STACKS.THE ORGANIZATION CREATES NEW AVENUES FOR INNOVATION THROUGH FUNDING RESEARCH, ECOSYSTEM DEVELOPMENT, AND DEVELOPER INCENTIVES. MAINTENANCE OF PUBLIC INFRASTRUCTURE. THE ORGANIZATION MAY SUPPORT, DESIGN, AND OTHERWISE ENCOURAGE THE DEVELOPMENT OF SOFTWARE MADE AVAILABLE TO THE GENERAL PUBLIC, GRATIS AND UNDER OPEN SOURCE LICENSES. THIS SOFTWARE, WILL FACILITATE A BETTER USER-OWNED INTERNET. THE ORGANIZATION SUPPORTS THE MISSION OF A USER OWNED INTERNET THROUGH STACKS-RELATED GOVERNANCE, RESEARCH AND DEVELOPMENT, EDUCATION, AND GRANTS. WE SUPPORT INDEPENDENT RESEARCHERS, CONTRIBUTORS, AND COLLABORATORS TO HELP BUILD A BETTER USER OWNED INTERNET THROUGH RESEARCH AND DEVELOPMENT. THE ORGANIZATION IS THE HOME FOR GOVERNANCE OF STACKS'S OPEN-SOURCE TECHNOLOGY, SERVING AS NEUTRAL GROUND FOR VARIOUS PARTIES TO COME TOGETHER AND REACH CONSENSUS ON THE PATH FORWARD. THE ORGANIZATION SUPPORTS THE DEVELOPMENT, THROUGH GRANTS AND DONATIONS, OF BITCOIN (THE PROTOCOL THAT UNDERPINS STACKS). BITCOIN IS A PUBLIC PAYMENT NETWORK THAT PROVIDES SECURE PAYMENTS AND PROVIDES A VALUABLE SERVICE TO PERSONS ACROSS THE NATION VIA THEIR INTERNET-CONNECTED DEVICES.

Program 3
Expenses: $185,614

CHAPTERS LOCAL COMMUNITY PROGRAM

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $11,797,331
Other Revenue $236,569
TOTAL REVENUE $12,033,900

Expense Breakdown

Grants Paid $2,003,591
Salaries & Benefits $4,289,614
Fundraising Expenses $0
Program Expenses $9,436,288
Other Expenses $4,230,485
TOTAL EXPENSES $10,523,690

Year-over-Year Comparison

2023 2022 Change
Revenue $12,033,900 $10,674,333 +0.1%
Expenses $10,523,690 $14,031,681 -0.3%
Net Income $1,510,210 $-3,357,348 -1.4%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
3
Independent Members
2
Employees
13
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
1
$294,028
Total Directors
0
$0
Key Employees
5
$1,308,820
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Brittany Laughlin Executive Director 40.00
Officer
$294,028 $0 $294,028
Jude Nelson Key Employee 40.00
Key Emp
$343,384 $0 $343,384
Mitchell Cuevas Key Employee 40.00
Key Emp
$385,673 $0 $385,673
Jenny Mith Key Employee 40.00
Key Emp
$187,468 $0 $187,468
Shannon Voight Key Employee 40.00
Key Emp
$173,978 $0 $173,978
Jesse Wiley Key Employee 40.00
Key Emp
$218,317 $0 $218,317
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
2023 $12,033,900 $10,523,690 $34,326,779 $1,510,210
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