Fintech Open Source Foundation
- Assets
- $0.0
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 7
- Location
- San Francisco, CA
- Founding
- 03/2019
- Data as of
- 12/2020
- EIN
- 47-2041883
Organization Overview
Fintech Open Source Foundation is located in San Francisco, CA. The organization was established in 2019. As of 12/2020, Fintech Open Source Foundation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fintech Open Source 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO FACILITATE OPEN SOURCE ADOPTION TO DELIVER S/W AND STDS THAT ADDRESS FIN. SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
2020 WAS A VERY SUCCESSFUL YEAR FOR FINOS AND ITS COMMUNITY WITH SEVERAL NOTABLE ACHIEVEMENTS. IN OCTOBER 2020, FINOS RECORDED A RECORD NUMBER MONTHLY COMMITS BREAKING ITS PREVIOUS RECORD BY 40%. LARGE INVESTMENT BANKS MADE SIGNIFICANT CONTRIBUTIONS TO FINOS, SEVERAL FOR THE FIRST TIME, INDICATING A SIGNIFICANT INCREASE IN THE ACCEPTANCE OF OPEN SOURCE AND OPEN STANDARDS AS KEY TOOLS FOR COLLABORATION IN THE FINANCIAL SERVICES INDUSTRY. THE FOUNDATION LAUNCHED SPECIAL INTEREST GROUPS (SIGS) AS ANOTHER FORM OF COLLABORATION INCLUDING A SIG FOCUSED ON ENGAGING REGULATORS, ENSURING THAT WE HAVE THE FULL ECOSYSTEM INVOLVED AS WE DRIVE INNOVATION IN FINANCIAL SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Alejandra Villagra Director | Trustee | 15 | $0 |
Russell Green Director | Trustee | 15 | $0 |
Jamie Jones Director | Trustee | 12 | $0 |
John Madsen Director | Trustee | 15 | $0 |
Gavin Leo-Rhynie Director | Trustee | 15 | $0 |
Brian Ingenito Director | Trustee | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,325,890 |
| 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 | $1,325,890 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| 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 | $1,325,890 |
| 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. | $788,745 |
| Compensation of current officers, directors, key employees. | $197,186 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $83,226 |
| Payroll taxes | $43,842 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $106,908 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $93,884 |
| Advertising and promotion | $66,600 |
| Office expenses | $2,458 |
| Information technology | $84 |
| Royalties | $0 |
| Occupancy | $41,377 |
| Travel | $9,342 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,284 |
| Insurance | $7,224 |
| All other expenses | $4,925 |
| Total functional expenses | $1,325,890 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $0 |
| 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 | $0 |
| 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 | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $0 |