Blockchain Institute
- Assets
- $110.3k
- Revenue
- $250.0k
- Investments
- $0.0
- Employees
- 6
- Location
- Chicago, IL
- Founding
- 03/2019
- Data as of
- 12/2020
- EIN
- 82-4193542
Organization Overview
Blockchain Institute is located in Chicago, IL. The organization was established in 2019. According to its NTEE Classification (U01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Science & Technology and related organizations. As of 12/2020, Blockchain Institute employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Blockchain Institute 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 12/2020, Blockchain Institute generated $250.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (30.8%) each year. All expenses for the organization totaled $371.2k during the year ending 12/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
THE INSTITUTE IS AN ILLINOIS NOT FOR PROFIT CORPORATION. THE INSTITUTE IS ORGANIZED AND OPERATED EXCLUSIVELY FOR EDUCATIONAL AND CHARITABLE PURPOSES WITHIN THE MEANING OF SECTION 501(C)(3) OF THE CODE. SPECIFICALLY, THE MISSION OF THE INSTITUTE IS TO CREATE EDUCATIONAL MATERIALS AND COURSES AS WELL AS HOST AND SPONSOR PUBLIC EVENTS TO EDUCATE THE PUBLIC ON THE USE, DEVELOPMENT AND ADOPTION OF BLOCKCHAIN TECHNOLOGY. BLOCKCHAIN IS A SERIES OF RECORDS, EACH CONTAINING INFORMATION, THAT ARE LINKED SECURELY USING CRYPTOGRAPHY. IT HAS BEEN DESCRIBED AS AN OPEN, DISTRIBUTED LEDGER THAT CAN RECORD TRANSACTIONS BETWEEN TWO PARTIES EFFICIENTLY AND IN A VERIFIABLE AND PERMANENT WAY. A BLOCKCHAIN MAY BE AVAILABLE TO THE PUBLIC OR IT MAY BE AVAILABLE TO A SPECIFIED SET OF USERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BLOCKCHAIN OUTREACH AND EDUCATION PROGRAMS, INCLUDING CREATING AND LAUNCHING SEVERAL DOWNLOADABLE INFORMATIONAL PAMPHLETS AND INFOGRAPHICS. ATTEND AND SPONSOR CONFERENCES AND UNIVERSITY EVENTS RELATED TO BLOCKCHAIN GROWTH AND EDUCATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Hannah Rosenberg Director | Trustee | 0.38 | $3,250 |
Taylor Gerring Director | Trustee | 30 | $0 |
Andrew Gordon Director | Trustee | 0.38 | $0 |
Jason Kin Hoi Fang Director | Trustee | 0.38 | $0 |
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 | $250,054 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $250,054 |
| 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 | -$81 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $249,973 |
| 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. | $3,250 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $258,368 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $22,196 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,814 |
| 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 | $1,808 |
| Advertising and promotion | $15,252 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,735 |
| Travel | $0 |
| 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 | $88 |
| Insurance | $31,791 |
| All other expenses | $690 |
| Total functional expenses | $371,173 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $110,343 |
| 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 | $110,343 |
| 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 | $81,069 |
| Total liabilities | $81,069 |
| Net assets without donor restrictions | $29,274 |
| 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 | $110,343 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Blockchain Institute has recieved totaling $5.
| Awarding Organization | Amount |
|---|---|
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Institute For Responsible Technology Fairfield, IA | $705,152 | $382,637 |
American Ai Forum Chicago, IL | $280,315 | $759,279 |
Northern Illinois Bldg Contractors Construction Ind Advancement Fund Rockford, IL | $1,337,263 | $562,062 |
Will Grundy Construction Industry Advancement Trust Joliet, IL | $515,492 | $512,953 |
Construction Advancement Program Of Central Indiana Inc Indianapolis, IN | $2,597,874 | $720,783 |
Blockchain Institute Chicago, IL | $110,343 | $249,973 |
Chicago Council On Science Andtechnology Chicago, IL | $95,252 | $292,057 |
Quad-City Construction Industry Advancement Trust Rock Island, IL | $782,933 | $317,804 |
Missouri Construction Industry Advancement Fund Jefferson City, MO | $0 | $0 |
North American Plant Phenotyping Network Saint Louis, MO | $9,415 | $0 |