Summer of Bits Inc (EIN 883415782) - Form 990 Financial Analysis & Trantor Score

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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

2021

Legal Domicile

Principal Officer

DEEPAK KATHAYAT

Phone

6464213432

Tax Period

2022-01-01 to 2022-12-31

Summer of Bits Inc, founded in 2021, is a small nonprofit that reported $690K in total revenue in fiscal year 2022. The organization ran a surplus of $312K, a strong 45% operating margin.

Mission

A. SUMMER OF BITS IS A PROGRAM THAT AIMS TO INTRODUCE AND BRING AWARENESS TO BITCOIN OPEN-SOURCE SOFTWARE DEVELOPMENT AND DESIGN TO THE YOUTH. WE ALSO PROVIDE MENTORSHIP TO OUR MEMBERS TO HELP INSPIRE YOUNG MINDS TO WORK ON BITCOIN DEVELOPMENT. B. BITCOIN DEVELOPMENT PROFESSIONALS AND CONSULTANTS WILL INSTRUCT STUDENTS ACCORDINGLY. IN ADDITION STUDENTS WILL PARTICIPATE AND CONTRIBUTE TO DEVELOPMENT OF OPEN-SOURCE BITCOIN PROJECTS. C. THIS ACTIVITY IS CONDUCTED PREDOMINATELY ONLINE. D. 100 PERCENT OF TOTAL TIME IS ALLOCATED TO THIS ACTIVITY. E. THE ACTIVITY IS FUNDED 100 PERCENT THUS FAR BY GRANTS AND DONATIONS AND 100 PERCENT OF EXPENSES ARE ALLOCATED TO THIS ACTIVITY. F. OUR PURPOSE IS TO HELP DEVELOP THE MINDS OF THE YOUTH THROUGH APPLICATION OF BITCOIN OPEN-SOURCE SOFTWARE DEVELOPMENT. OUR WORK IN NATURE IS CHARITABLE FOR WE ARE MAKING YOUNG INDIVIDUALS MORE AWARE OF AN EMERGING INDUSTRY SO THEY CAN BE MORE SUCCESSFUL IN THEIR FUTURE ENDEAVORS

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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 (2022)

Revenue Breakdown

Contributions & Grants $689,777

Program Service Revenue $0

Investment Income $0

Other Revenue $0

TOTAL REVENUE $689,777

Expense Breakdown

Grants Paid $245,922

Salaries & Benefits $100,543

Fundraising Expenses $0

Program Expenses $377,963

Other Expenses $31,498

TOTAL EXPENSES $377,963

Year-over-Year Comparison

	2022	2021	Change
Revenue	$689,777	N/A	N/A
Expenses	$377,963	N/A	N/A
Net Income	$311,814	$0	N/A

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

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

$99,996

Total Directors

$99,996

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Deepak Kathayat	President	40.00	Officer Director	$99,996	$0	$99,996

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
2022	$689,777	$377,963	$182,151	$311,814

Summer of Bits Inc