How to Interpret the Blockchain Association 990 Form

Understanding the Blockchain Association 990 Form

The Blockchain Association is a non-profit organization that aims to promote the adoption and growth of blockchain technology. As a non-profit organization, it is required by law to file an IRS Form 990 annually. The purpose of this form is to provide transparency and accountability regarding the organization’s financial operations. In this article, we will discuss how to interpret the Blockchain Association 990 Form.

What is the Blockchain Association 990 Form?

The Form 990 is a tax document that provides detailed information about the financial operations of a non-profit organization. It is filed annually with the Internal Revenue Service (IRS) and is available to the public. The form is divided into several sections, including the organization’s mission, governance, and financial information.

The Key Sections of the Blockchain Association 990 Form

Understanding the key sections of the Blockchain Association 990 Form can provide insights into the organization’s operations. Here are some of the important sections to pay attention to:

Part I: Summary

The first section of the 990 form provides a summary of the organization’s mission and activities, as well as an overview of its financial operations. This section can provide a quick snapshot of the organization’s finances and operations.

Part III: Statement of Program Service Accomplishments

This section of the 990 form provides an overview of the organization’s activities and accomplishments during the year. It includes a description of the programs and services provided by the Blockchain Association and the impact they had.

Part VII: Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors

This section of the 990 form provides information about the compensation of the organization’s top executives. It includes details about their salaries, bonuses, and other compensation.

Part VIII: Statement of Revenue

This section of the 990 form provides information about the organization’s revenue sources. It includes details about grants, contributions, and other sources of income.

Part IX: Statement of Functional Expenses

This section of the 990 form provides information about the organization’s expenses. It includes details about program expenses, administrative expenses, and fundraising expenses.

What to Look for When Interpreting the Blockchain Association 990 Form

When interpreting the Blockchain Association 990 Form, there are several things to look for:

Transparency

The 990 form provides transparency into the organization’s finances and operations. Look for details about the organization’s activities and how it spent its money.

Efficiency

Look for indications that the organization is using its resources efficiently. Are the majority of its expenses going toward its programs and services?

Impact

Look for indications of the organization’s impact. Is it achieving its goals and making a difference in the industry?

Conclusion

Interpreting the Blockchain Association 990 Form can provide insights into the organization’s financial operations. By understanding the key sections and what to look for, you can gain a better understanding of how the Blockchain Association is using its resources to promote blockchain technology. Transparency, efficiency, and impact should be the key drivers when evaluating the organization’s finances.