Openid Foundation
- Assets
- $1.3m
- Revenue
- $1.7m
- Investments
- $0.0
- Employees
- 0
- Location
- San Ramon, CA
- Founding
- 07/2014
- Data as of
- 12/2021
- EIN
- 26-0447503
Organization Overview
Openid Foundation is located in San Ramon, CA. The organization was established in 2014. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Openid Foundation is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Openid Foundation generated $1.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.2% each year . All expenses for the organization totaled $872.0k during the year ending 12/2021. While expenses have increased by 11.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
OPENID FOUNDATION IS A NONPROFIT INTERNATIONAL STANDARDIZATION ORGANIZATION OF INDIVIDUALS AND COMPANIES DEVELOPING, PROMOTING, AND EVOLVING OPENID TECHNOLOGIES. FORMED IN JUNE 2007, THE FOUNDATION SERVES AS A PUBLIC TRUST ORGANIZATION REPRESENTING THE OPEN COMMUNITY OF DEVELOPERS, VENDORS, AND USERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATIONAL UPDATES:THE OPENID FOUNDATION WELCOMED GAIL HODGES AS THE NEW EXECUTIVE DIRECTOR OF THE OPENID FOUNDATION IN MAY 2021. GAIL HAS EXTENSIVE EXPERIENCE BOTH IN THE DIGITAL IDENTITY SPACE - FOR INSTANCE, HAVING FOUNDED THE FUTURE IDENTITY COUNCIL, AND IN THE PAYMENTS SPACE - AMONG OTHER ACCOMPLISHMENTS, HAVING HEADED APPLE PAY IN LATIN AMERICA AND HAVING BEEN THE GLOBAL HEAD OF DIGITAL PAYMENTS AT HSBC. THE FOUNDATION'S FORMER EXECUTIVE DIRECTOR, DON THIBEAU, TRANSITIONED TO NON-EXECUTIVE DIRECTOR.THE OPENID FOUNDATION INCREASED MEMBERSHIP DUES IN 2021. AS THE FOUNDATION CONTINUES TO GROW GLOBALLY, IT REQUIRES AN INCREASING INVESTMENT TO SUPPORT THE DAY TO DAY OPERATIONS WHILE ENABLING THE EXPANSION OF THE FOUNDATION TO INCLUDE THE CERTIFICATION PROGRAM, DRIVING NEW OUYREACH OPPORTUNITIES - SUCH AS OPEN BANKING INITIATIVES WORLDWIDE, AND SUPPORTING NEW WORKING GROUPS. THE OPENID FOUNDATION HAS NOT INCREASED MEMBERSHIP DUES IN OVER 10 YEARS; THE BOARD OF DIRECTORS RECENTLY REVISITED THE TOPIC OF MEMBERSHIP DUES AND UNAMIMOUSLY APPROVED INCREASES TO MEMBERSHIP FEES EFFECTIVE JULY 1, 2021.
A NUMBER OF OIDF SPECIFICATIONS WERE APPROVED IN 2021: (1) FIRST IMPLEMENTER'S DRAFTS OF THREE FASTFED SPECIFICATIONS APPROVED (2) SECOND IMPLEMENTER'S DRAFT OF OPENID CONNECT USER QUESTIONING API SPECIFICATION (3) FINANCIAL-GRADE API (FAPI) 1.0 FINAL SPECIFICATION (4) IMPLEMENTER'S DRAFTS OF TWO FAPI 2.0 SPECIFICATIONS (5) IMPLEMENTER'S DRAFTS OF TWO SSE SPECIFICATIONS (6) IMPLEMENTER'S DRAFT OF FAPI GRANT MANAGEMENT (7) OPENID CONNECT CLIENT-INITIATED BACKCHANNEL AUTHENTICATION (CIBA) CORE IS NOW A FINAL SPECIFICATION (8) THIRD IMPLEMENTER'S DRAFT OF OPENID CONECT FEDERATION SPECIFICATION, AND (9) THIRD IMPLEMENTER'S DRAFT OF OPENID CONNECT FOR IDENTITY ASSURANCE SPECIFICATION.
THE OIDF CERTIFICATION PROGRAM CONTINUED TO EVOLVE: (1) OPENID FINANCIAL-GRADE API (FAPI) CONFORMANCE TESTS NOW AVAILABLE FOR AUSTRALIAN CONSUMER DATA RIGHTS PARTICIPANTS & PUSH AUTHORIZATION REQUESTS (PAR) (2)INCREASED CERTIFICATION FEES IN DRIVE TOWARDS A SELF SUSTAINING PROGRAM IN 2021 AND BEYOND (3) AVAILABILITY OF FINANCIAL GRADE API (FAPI) OP AND DYNAMIC CLIENT REGISTRATION (OCR) TESTS FOR OPEN BANKING BRAZIL WHO MANDATED FINANCIAL INSTITUTIONS BE FAPI CERTIFIED (4) OPENID FINANCIAL GRADE (FAPI) CONFORMANCE TESTS RELEASED FOR FINAL FAPI 1.0 PARTS 1 AND 2 SPECIFICATIONS, AND (5) ADDED TWO ADDITIONAL PART TIME CONSULTANTS TO THE CERTIFICATION TEAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Don Thibeau Non-Executive Director | Trustee | 20 | $113,750 |
Mike Jones Secretary & Director | OfficerTrustee | 4 | $0 |
John Bradley Treasurer & Director | OfficerTrustee | 1 | $0 |
Nat Sakimura Chairman & Director | OfficerTrustee | 4 | $0 |
Bjorn Helm Vice Chair & Director | OfficerTrustee | 1 | $0 |
Filip Verley Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Identity Services Ltd Executive Director Services | 12/30/21 | $115,386 |
Don Thibeau Non-executive Director Services | 12/30/21 | $113,750 |
Fintechlabs Technical Services | 12/30/21 | $226,092 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $1,720,690 |
| Investment income | $3 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,720,693 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $315,536 |
| Fees for services: Legal | $63,735 |
| Fees for services: Accounting | $1,856 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $405,874 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $27,582 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $33,620 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $7,098 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,845 |
| All other expenses | $7,824 |
| Total functional expenses | $871,970 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,225,304 |
| Savings and temporary cash investments | $30,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,255,304 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,133,939 |
| Net assets with donor restrictions | $121,365 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,255,304 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
The Thunderbirds Phoenix, AZ | $33,696,955 | $84,390,943 |
California Travel And Tourism Commission Sacramento, CA | $86,955,324 | $75,852,594 |
Semi Milpitas, CA | $100,332,447 | $57,588,828 |
San Diego County Capital Asset Leasing Corporation San Diego, CA | $104,250,616 | $41,735,289 |
Western States Petroleum Association Sacramento, CA | $8,481,739 | $30,827,581 |
Iapmo Research And Testing Inc Ontario, CA | $11,214,766 | $46,736,492 |
Specialty Equipment Market Association Diamond Bar, CA | $151,136,909 | $20,614,542 |
California Dental Association Sacramento, CA | $252,495,901 | $15,890,513 |
Chinatown Service Center Los Angeles, CA | $26,778,687 | $27,867,616 |
Sag-Aftra & Industry Sound Recordings Distribution Fund Valley Village, CA | $48,142,351 | $13,604,136 |
Electric & Gas Industries Association Sacramento, CA | $14,735,713 | $15,175,016 |
American Pistachio Growers Fresno, CA | $11,494,323 | $15,365,842 |