2024-10-24T11:21:49-05:00 2023-12-31 582676261 Rogers & Company PLLC 8300 Boone Boulevard Suite 600 Vienna VA 22182 990 2023-01-01 871014079 DeFi Education Fund DEFI 2022407732 1155 F Street NW STE 300 Washington DC 20004 Miller Whitehouse-Levine Chief Executive Officer 2022407732 2024-10-21 1 1 Yong Zhang CPA P01249785 7038930300 2024-10-21 2023 2024-10-15 13:58:12Z Miller Whitehouse-Levine 1155 F Street NW STE 300 Washington DC 20004 438672 0 X www.defieducationfund.org X 2021 VA See Part III, Line 1. 3 3 9 4 0 0 0 438616 0 0 0 56 0 0 0 438672 610542 556250 0 0 582869 1164706 0 0 63813 2282352 2060854 3475763 3781810 -3475763 -3343138 8723243 6417247 350505 332256 8372738 6084991 X The DeFi Education Fund is a nonpartisan research and advocacy group working to explain the benefits of DeFi, achieve regulatory clarity for the future of the global digital economy, and help realize the transformative potential of DeFi for everyone. 0 1 792562 Lobbying Activities: Continuing our efforts from 2022, in 2023 the DeFi Education Fund continued its Congressional lobbying efforts, focusing on explaining not only how decentralized finance ("DeFi") works, but also the benefits that can be achieved with sensible regulatory frameworks and policy. 737672 Policy Litigation: In 2023, the DeFi Education Fund ramped up our policy litigation efforts, focusing on assisting in or bringing lawsuits that affirm the rights of individual software developers and users and create regulatory clarity for the industry. The DeFi Education Fund submits numerous amicus briefs in relevant cases to educate the Court about how DeFi technology works. 680976 556250 The DeFi Education Fund previously granted funds to grantees over a predetermined schedule that spanned multiple years. In the second half of 2023, the DeFi Education Fund sunsetted our grants program and stopped giving new grants. 353796 Public Relations: Similar to 2022, our public relations efforts in 2023 focused on how to best explain decentralized finance ("DeFi") to policymakers, journalists and the general public.In 2023, we expanded our public relations efforts and focused on continuing to build relationships with key stakeholders as well as how best to position the DeFi Education Fund as a subject matter expert in the field of DeFi policy. In 2023, we also expanded our thought-leadership work, participated in high-profile industry events and wrote and secured op-ed placements in publications that reach not only the crypto community, but also those in the policy space.In 2023, we were able to further relationships with, and contribute to articles in high-profile publications such as The Wall Street Journal, The New York Times, POLITICO, Fortune, Reuters, TIME and Business Insider. 277949 Policy Meetings, Policy Research and other programs. 631745 2842955 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 20 0 1 9 1 0 0 0 0 1 1 0 0 0 X 3 3 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 0 0 X Miller Whitehouse-Levine 2022407732 1155 F Street NW STE 300 Washington DC 20004 Marc Boiron Board of Directors, President 3.00 X X 0 0 0 Rebecca Rettig Board of Directors 3.00 X 0 0 0 Jake Chervinsky Board of Directors 2.00 X 0 0 0 Amanda Tuminelli CLO, Secretary 40.00 X 319486 0 5536 Miller Whitehouse-Levine CEO 40.00 X 224565 0 5912 Larry Sukernik Treasurer 2.00 X 0 0 0 Amanda Flournoy Grants Director 40.00 X 126533 0 9343 Max Bernstein Communications & Operations Sr. Manager 40.00 X 159009 0 13095 829593 0 33886 4 0 1 0 Sullivan & Cromwell LLP 125 Broad Street New York NY 10004 Policy litigation 278778 Federal Hall Policy Advisors LLC 1455 Pennsylvania Ave NW Suite 400 Washington DC 20004 Lobbying 260000 Elmendorf Strategies LLC dba Team Subjec 1201 New York Ave NW Suite 900 Washington DC 20005 Lobbying 250000 Shapiro Finnan LLC 9801 Washingtonian Boulevard Suite Gaithersburg MD 20878 policy litigation 185016 Goldstein Policy Solutions LLC 1445 Church Street NW 32 Washington DC 20005 Lobbying 180000 7 438616 438616 56 56 438672 0 0 56 556250 556250 555499 445076 77023 33400 509958 409493 73311 27154 23255 23255 75994 62935 9800 3259 40405 12454 27951 81477 81477 733185 733185 109295 17940 91355 129032 128737 295 6635 6635 34042 14698 19344 48518 48518 71754 71754 16285 12682 3603 144353 144353 Policy litigation 635914 449505 186409 Trading and transaction 7961 7961 Professional Developmen 1998 1998 3781810 2842955 875042 63813 4711 274804 146249 47492 8572283 6094951 8723243 6417247 350505 332256 350505 332256 X 8372738 6084991 8372738 6084991 8723243 6417247 X -3343138 1186 1054205 X 0 0 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 Multi-Sig UNI 3610648 Coinbase USDC 2446252 Other current assets 5245 Multi-Sig DAI 22155 Kraken USDC 10530 Kraken ETH 111 Coinbase SOL 10 6094951 1 Fight for the Future Education Fund PO Box 55071 PMB 95005 Boston MA 02205 452852041 501c3 431250 0 Program Support. Mercatus Center 3434 Washington Blvd 4th Floor Arlington VA 22201 541436224 501c3 62500 0 Program Support. NYU Leonard N Stern School of Business 105 East 17th Street New York NY 10003 135562308 501c3 62500 0 Program Support. 3 0 Part I, Line 2: The Organization requires grant proposals to include information including: 1) how the proposed funding advances the mission of the DeFi Education Fund, 2) information about the individuals and their experience who would be working on the proposed project, 3) a breakdown of how and when the proposed funding would be used to accomplish the objectives of the proposal. The organization reviews grant proposals for the following criteria: 1) relevance to the DeFi Education Fund's mission, 2) viability And impact of the proposal, 3) the cost effectiveness of the proposal, 4) whether the proposing organization or individual is well-equipped to complete the objectives of the proposal, and 5) whether the completion timeline of the proposal would make it relevant and impactful to the Organization's work. Once the DeFi Education Fund determines that it will fund a grant, payments are structured over the lifetime of the project to ensure grantees are meeting expected deadlines and to minimize risk to the Organization's assets should grantees not be. Once a grant is completed, the DeFi Education Fund collects and documents grantees' activities and use of funds. For significant grants and those will long project timelines, the DeFi Education Fund predicates grant payments on the receipt and review of written status reports detailing the grantee's progress on a funded proposal. Before terminating its grants program in summer of 2023, the DeFi Education Fund employed a dedicated grants director who was responsible for ensuring grantees meet the terms of their grant agreements over the course of funded proposals X X X 0 0 0 0 0 0 0 0 0 Amanda Tuminelli CLO, Secretary 319486 0 0 0 0 0 0 0 5536 0 325022 0 0 0 Miller Whitehouse-Levine CEO 224565 0 0 0 0 0 0 0 5912 0 230477 0 0 0 Max Bernstein Communications & Operations Sr. Mana 139009 0 20000 0 0 0 0 0 13095 0 172104 0 0 0 Form 990, Part III, line 3 DeFi's Grants program to other organizations and individuals concluded in summer 2023. No new grants were given in 2023. Form 990, Part VI, Section A, line 8b DeFi Education Fund did not form any committee with the authority to act on behalf of the governing body. Form 990, Part VI, Section B, line 11b The Organization will provide a completed copy of the Form 990 to its governing board via email before the return is filed with the IRS. Form 990, Part VI, Section B, line 12c The Organization has an extensive compliance program, including a conflicts of interest policy delineated in the DeFi Education Fund's bylaws. The Organization's Board of Directors reviewed and approved the bylaws, including the conflicts of interest policy, in 2023. The Board and the Organization's officers and key employees consistently monitor and enforce this policy. Details on the conflicts of interest policy are below. Duty to Disclose. In connection with any actual or possible conflict of interest, an Interested Person must disclose the existence and nature of their interest and may be given, in the discretion of the Board of Directors, the opportunity to disclose all material facts to the Board of Directors or the appropriate committee to which the Board of Directors has delegated the power to consider whether a conflict of interest exists. Determining Whether a Conflict of Interest Exists. After disclosure of the interest and all material facts by the Interested Person, and after any discussion with the Interested Person, the Interested Person will leave the Board of Directors or committee meeting while the determination of a conflict of interest is discussed and voted upon. The remaining disinterested Directors or committee members will decide if an actual conflict of interest exists and determine whether the transaction or arrangement is approved. Procedures for Addressing the Conflict of Interest. After exercising due diligence, the Board of Directors or committee will determine whether the Fund can obtain a more advantageous transaction or arrangement with reasonable efforts from a person or entity that would not give rise to a conflict of interest. If a more advantageous transaction or arrangement is not reasonably attainable under circumstances that would not give rise to a conflict of interest, the Board of Directors or committee will determine by a majority vote of the disinterested Directors or committee members whether the transaction or arrangement is in the Fund's best interest and for the Fund's own benefit and whether the transaction is fair and reasonable to the Fund. The Board of Directors or the committee will be required to make its decision as to whether to enter into the transaction or arrangement in conformity with such determination. The President of the Board of Directors or the Chairperson of the committee may, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. The Secretary will record the Board of Directors or the committee's consideration of any conflict of interest in meeting minutes. Compensation. A voting member of the Board of Directors or any committee thereof who receives compensation, directly or indirectly, from the Fund for services is precluded from voting on matters pertaining to that individual's compensation. Failure to Disclose. If the Board of Directors or committee has reasonable cause to believe that an Officer or Director has failed to disclose an actual or possible financial interest, the Board of Directors will inform that individual of the basis for such belief and afford that individual an opportunity to explain the alleged failure to disclose. If, after hearing the response and making such further investigation as may be warranted under the circumstances, the Board of Directors or committee determines that the individual has failed to disclose an actual or possible financial interest, the Board of Directors will take appropriate disciplinary and corrective action. Use of Independent Persons. In the event that Fund is unable to constitute a quorum of independent directors to consider an interest, the Board of Directors may, at its discretion, constitute a committee of independent persons to advise on the contemplated transaction. Loans to Directors and Officers Prohibited. No loans may be made by the Fund to its Directors or Officers. Any Directors voting for or assenting to the making of any loan to a Director or Officer, which is prohibited by applicable law, and any Director or Officer participating in the making thereof, will be jointly and severally liable to the Fund for the amount of such loan until repayment thereof. Form 990, Part VI, Section B, line 15a In determining the salary of the CEO, the Board of Directors considered the salaries of similarly situated executives at 501(c)(4) organizations and set compensation for the CEO based on the findings of this review and in light of the CEO's experience and the Organization's needs. Form 990, Part VI, Section C, line 19 The organization's Form 990 and monthly financial statements are available on its public website. Form 990, Part XI, line 9: Impairment Recovery 7,767,002. Unrealized gain/loss on cryptocurrency -6,716,466. Refund of Prior Year Grants 3,669.