Identity Technologies Inc
- Assets
- $4.3m
- Revenue
- $104.5k
- Investments
- $0.0
- Employees
- 0
- Location
- San Diego, CA
- Founding
- Data as of
- 12/2022
- EIN
- 83-4231391
Organization Overview
Identity Technologies Inc is located in San Diego, CA. Identity Technologies Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO CREATE A SELF SUSTAINING NEW IDENTITY ECONOMY
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO CREATE A SELF SUSTAINING, SELF SOVEREIGN IDENTITY MARKETPLACE, ENABLING THE CREATION OF LOW COST, DIGITAL IDENTIFICATIONS, WHILE INCREASING JOB OPPORTUNITIES AND REDUCING THE COST OF IDENTITY VERIFICATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Phillip Shoemaker Executive Director/sec | OfficerTrustee | 1 | $301,694 |
Vinodan K Lingham President | OfficerTrustee | 1 | $0 |
Llew Claasen Treasurer | OfficerTrustee | 1 | $71,500 |
James Kilroe Director | Trustee | 1 | $30,120 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wachsman Llc Public Relations Consulting | 12/30/22 | $126,000 |
William Brooks Software Development Services | 12/30/22 | $104,999 |
View All Vendors
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 | $0 |
| Investment income | $57,600 |
| 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 | $104,503 |
| 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. | $403,314 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $544,750 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $203,461 |
| Payroll taxes | $54,964 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $83,327 |
| Fees for services: Accounting | $16,013 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $462,559 |
| Advertising and promotion | $17,032 |
| Office expenses | $5,923 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $104,774 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $38,588 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $32,926 |
| Total functional expenses | $2,096,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,775,306 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,181 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $461,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $29,742 |
| Net Land, buildings, and equipment | $36,770 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,200,000 |
| Other assets | $814,354 |
| Total assets | $4,320,353 |
| 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 | $4,392,178 |
| Total liabilities | $4,392,178 |
| Net assets without donor restrictions | -$71,825 |
| 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 | $4,320,353 |