Summer of Bits Inc
- Assets
- $99.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Sheridan, WY
- Founding
- Data as of
- 12/2021
- EIN
- 88-3415782
Organization Overview
Summer of Bits Inc is located in Sheridan, WY. Summer of Bits Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Program Activity:
Part 3
A. SUMMER OF BITS IS A PROGRAM THAT AIMS TO INTRODUCE AND BRING AWARENESS TO BITCOIN OPEN-SOURCE SOFTWARE DEVELOPMENT AND DESIGN TO THE YOUTH. WE ALSO PROVIDE MENTORSHIP TO OUR MEMBERS TO HELP INSPIRE YOUNG MINDS TO WORK ON BITCOIN DEVELOPMENT. B. BITCOIN DEVELOPMENT PROFESSIONALS AND CONSULTANTS WILL INSTRUCT STUDENTS ACCORDINGLY. IN ADDITION STUDENTS WILL PARTICIPATE AND CONTRIBUTE TO DEVELOPMENT OF OPEN-SOURCE BITCOIN PROJECTS. C. THIS ACTIVITY IS CONDUCTED PREDOMINATELY ONLINE. D. 100 PERCENT OF TOTAL TIME IS ALLOCATED TO THIS ACTIVITY. E. THE ACTIVITY IS FUNDED 100 PERCENT THUS FAR BY GRANTS AND DONATIONS AND 100 PERCENT OF EXPENSES ARE ALLOCATED TO THIS ACTIVITY. F. OUR PURPOSE IS TO HELP DEVELOP THE MINDS OF THE YOUTH THROUGH APPLICATION OF BITCOIN OPEN-SOURCE SOFTWARE DEVELOPMENT. OUR WORK IN NATURE IS CHARITABLE FOR WE ARE MAKING YOUNG INDIVIDUALS MORE AWARE OF AN EMERGING INDUSTRY SO THEY CAN BE MORE SUCCESSFUL IN THEIR FUTURE ENDEAVORS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Deepak Kathayat President | 30 | $0 | |
Parvati Kathayat Treasurer | 1 | $0 | |
Disha Kathayat Secretary | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $115,000 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $115,000 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $11,350 |
| Occupancy, rent, utilities, and maintenance | $950 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $3,463 |
| Total expenses | $15,763 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $99,237 |
| Other assets | $0 |
| Total assets | $99,237 |
| Total liabilities | $0 |
| Net assets or fund balances | $99,237 |
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