Eit Ict Labs Silicon Valley Foundation
- Assets
- $656.6k
- Revenue
- $514.7k
- Investments
- $0.0
- Employees
- 1
- Location
- San Francisco, CA
- Founding
- 05/2016
- Data as of
- 12/2022
- EIN
- 47-3461704
Organization Overview
Eit Ict Labs Silicon Valley Foundation, operating under the name European Innovation And Education Organisation, is located in San Francisco, CA. The organization was established in 2016. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. European Innovation And Education Organisation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, European Innovation And Education Organisation generated $514.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.5%) each year. All expenses for the organization totaled $514.7k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (7.5%) per year over the past 6 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CREATE A TWO-WAY BRIDGE BETWEEN THE EUROPEAN ECOSYSTEM AND THE BAY AREA ECOSYSTEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
--EIT DIGITAL SILICON VALLEY HUB NATIONAL/REGIONAL SUPPORT: NATIONAL/REGIONAL SUPPORT PROGRAM AND RELATED EVENTS (E.G. SEC2SV AND EUROPESV).PROGRAM DETAILS: SUPPORT IN SILICON VALLEY FOR NATIONAL/REGIONAL INITIATIVES THAT INTEND TO CONNECT EUROPEAN INNOVATION ECOSYSTEMS TO SILICON VALLEY.--EIT DIGITAL ACCELERATOR SUPPORT IN SILICON VALLEY: CONTRIBUTIONS TO THE EIT DIGITAL ACCELERATOR. PROGRAM DETAILS: ACCESS-TO-MARKET SUPPORT FOR EUROPEAN SCALEUP COMPANIES THAT ARE INTERESTED IN DOING BUSINESS IN SILICON VALLEY.--EIT DIGITAL INDUSTRY ENGAGEMENT PROGRAM: SUPPORT FOR INDUSTRY PARTNERS, E.G. BY ORGANIZING HACKATHONS. PROGRAM DETAILS: ESTABLISHING LINKS BETWEEN SILICON VALLEY COMPANIES AND THE EUROPEAN INNOVATION ECOSYSTEM OF EIT DIGITAL, E.G. BY MEANS OF HACKATHONS.--EIT DIGITAL EDUCATION ACTIVITIES: STUDENT EXCHANGE AND COLLABORATION ON SPECIFIC EDUCATION PROGRAMS. PROGRAM DETAILS: RECRUITMENT OF US STUDENTS FOR EIT DIGITAL EDUCATION PROGRAMS IN EUROPE AND COLLABORATION ON SPECIFIC EDUCATION PROGRAMS, E.G. WITH UC BERKELEY AND COURSERA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Linnar Viik Chairman Of Supervisory Board | OfficerTrustee | 0.5 | $0 |
Willem Jonker CEO And President (thru 11/1/22) | Officer | 0.5 | $0 |
Anne DE Moor Secretary | Officer | 0.5 | $0 |
Mathias Bertele CFO And Treasurer (thru 5/21/22) | Officer | 0.5 | $0 |
David Byrne CFO And Treasurer (as Of 5/21/22) | Officer | 0.5 | $0 |
Federico Menna CEO And President (as Of 11/1/22) | Officer | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Futuretournaments Oy (Ultrahack) Consulting Services | 12/30/21 | $134,124 |
Baypulse Inc Consulting Services | 12/30/21 | $123,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $473,950 |
| 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 | $473,950 |
| Total Program Service Revenue | $35,778 |
| 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 | $514,698 |
| 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 | $110,178 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,778 |
| Fees for services: Management | $64,295 |
| Fees for services: Legal | $253 |
| Fees for services: Accounting | $9,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $135,240 |
| Advertising and promotion | $66,605 |
| Office expenses | $3,310 |
| Information technology | $805 |
| Royalties | $0 |
| Occupancy | $9,728 |
| Travel | $8,918 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $52,371 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $400 |
| Insurance | $0 |
| All other expenses | $1,979 |
| Total functional expenses | $514,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $402,135 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $252,910 |
| 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 | $644 |
| Net Land, buildings, and equipment | $937 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $656,626 |
| Accounts payable and accrued expenses | $133,622 |
| Grants payable | $0 |
| Deferred revenue | $265,000 |
| 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 | $398,622 |
| 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 | $258,004 |
| Total liabilities and net assets/fund balances | $656,626 |