2025-01-15T08:58:20-06:00 2023-12-31 582676261 Rogers & Company PLLC 8300 Boone Boulevard Suite 600 Vienna VA 22182 990 2023-01-01 820707962 Zcash Foundation ZCAS 5714185390 1390 Chain Bridge Road A132 McLean VA 22101 Andrew Miller Chair 5714185390 2025-01-15 1 1 Jie Chen CPA P01049760 7038930300 2023 2024-10-15 13:58:12Z X Andrew Miller 1390 Chain Bridge Road A132 McLean VA 22101 8579454 0 X https://www.zfnd.org X 2017 DE The Zcash Foundation builds financial privacy infrastructure for the public good, primarily serving users of the Zcash protocol and blockchain. 6 5 6 0 0 0 14939418 5608672 20979 18254 -1988177 -881468 0 0 12972220 4745458 3089320 4977436 0 0 1063296 1821962 0 0 0 2945931 3117264 7098547 9916662 5873673 -5171204 21828619 16155832 215254 145566 21613365 16010266 X The Zcash Foundation is a public charity that builds financial privacy infrastructure for the public good, primarily serving the users of the Zcash protocol and blockchain. The Foundation also supports other applications of zero-knowledge cryptography, as well as other approaches to private cryptocurrency. 1 0 4983751 4659686 Zcash Community Grants (ZCG, formerly Zcash Open Major Grants ZOMG) is a technical advisory board that constitutes a committee of the Zcash Foundation, under its bylaws. Grants are chosen by a committee of five members who are chosen by the Zcash Community Advisory Panel (ZCAP) in an open election. Funding for ZCG's activities is provided via the Dev Fund specified in ZIP 1014. 1689577 44000 Protocol & Governance: The Zcash protocol and the open network it powers is valuable, privacy-protecting Internet infrastructure; it should be developed and maintained by an open and diverse community of experts and enthusiasts. It is a tool for financial privacy available to the general public. The Zcash Foundation acts as a steward of the Zcash protocol, providing leadership and supporting its continued maintenance and improvement. 1341011 273750 18254 Community: The Zcash Foundation supports the expansion of Zcash into a large and healthy community with diverse stakeholders, held accountable to our user-base in the broadest sense. Our goal is creating tools that help sustain open networks, which enable individuals to protect their privacy on their own terms. Privacy comprises both autonomy and consent, which are essential to human dignity and the healthy continuation of civil society. 1005334 Science: Technical decisions are best supported by scientific activities, such as rigorous validation, empirical measurement, and continued innovation and refinement. The Zcash Foundation therefore support these activities within our community. All cryptocurrencies, but especially Zcash, rely on cutting-edge contributions from the scientific research community, thus interaction with this community can also help the community stay healthy. We will encourage this scientific research and educate the public regarding the substance and benefits of these scientific developments. 1005334 9019673 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 21 0 1 6 1 0 0 0 0 0 0 0 0 0 0 0 0 X 6 5 0 0 0 0 0 1 0 1 0 0 0 1 1 1 1 1 1 1 1 0 VA X X Watts Group Inc 7038658292 4161 Chain Bridge Road Fairfax VA 22030 Andrew Miller Chairman/Treasurer 0.50 X X 0 0 0 Peter Van Valkenburgh Director 0.50 X 0 0 0 Amber Baldet Director 0.50 X 0 0 0 Jay Verret Director 0.50 X 0 0 0 Martha Belcher Director 0.50 X 0 0 0 Jack Gavigan Executive Director 40.00 X X 292519 0 0 Alex Bornstein Chief Operating Officer 40.00 X 223167 0 5578 Deirdre Connolly Cryptography Engineer 40.00 X 261240 0 7265 Danika Delano Operations Director 40.00 X 120083 0 8763 Daniel Wolande Ecosystems Relations Manager 40.00 X 106006 0 0 1003015 0 21606 5 0 1 0 Hilton Diagonal Mar Barcelona Pg del Taulat 262 264 Sant Mart Barcelona Catalonia SP 8019 Zcon 4 Conference & Team Retreat 388674 NCC Group Security Services Inc 650 California Street Suite 2950 San Francisco CA 94108 Zebra & FROST Audit 325125 Davis Polk & Wardwell LLP 901 15th Street NW Washington DC 20005 Legal Services 317030 Livingston LLC PO Box 3401 Grand Junction CO 81502 Research & Cryptography 265227 CPL GOUVEA LTDA Rua Comendador Torlogo Dauntre 74 Campinas BR Cryptography engineers 258037 10 5608672 5608620 5608672 Meeting Registration 900099 18254 18254 18254 27900 27900 2924628 3833996 -909368 -909368 -909368 4745458 18254 0 -881468 X 1091713 1091713 255454 255454 3630269 3630269 521264 456382 64882 1108362 952742 155620 136062 120588 15474 56274 43264 13010 491304 119452 371852 51933 51933 1324675 1270333 54342 487 487 495067 443143 51924 27901 15642 12259 213498 198560 14938 442277 411332 30945 30590 30590 Research expenses 38562 9376 29186 Dues and subscriptions 970 936 34 9916662 9019673 896989 0 7042176 5001500 52286 81925 14734157 10183381 889026 21828619 16155832 215254 130566 15000 215254 145566 X 6705376 -3726888 14907989 19737154 21613365 16010266 21828619 16155832 -5171204 -323403 -108492 0 X 0 1 X 1 0 X 5537112 4308228 25641403 14939418 5608672 56034833 5537112 4308228 25641403 14939418 5608672 56034833 6721677 49313156 26346 13389 2481 4062 27900 74178 56109011 92219 0.87890 0.68030 X 0 Virtual currency 10183381 F 10183381 X 4422055 -323403 -323403 4745458 0 4745458 9916662 0 9916662 0 9916662 Part X, Line 2: Management has evaluated the Organization's tax positions and concluded that the financial statements do not include any uncertain tax positions. 1 Central America and the Caribbean Research & Development Grant 250000 Europe (Including Iceland & Greenland) Research & Development Grant 358020 Europe (Including Iceland & Greenland) Education Grant 3821 Europe (Including Iceland & Greenland) Research & Development Grant 29900 Europe (Including Iceland & Greenland) Research & Development Grant 360000 Middle East and North Africa Research & Development Grant 1324710 North America Research & Development Grant 551000 South America Research and Development Grant 5000 East Asia and the Pacific Research & Development Grant 483000 South America Research and Development Grant 9000 East Asia and the Pacific Research & Development Grant 3700 Europe (Including Iceland & Greenland) Research & Development Grant 5000 Europe (Including Iceland & Greenland) Research & Development Grant 7200 South Asia Research & Development Grant 15000 Europe (Including Iceland & Greenland) Research & Development Grant 16366 South America Education grant 37774 South America Research & Development Grant 40778 North America Research & Development Grant 130000 Europe (Including Iceland & Greenland) 1 1 Program services Protocol & Science 179200 Europe (Including Iceland & Greenland) 1 1 Program Services Science 202747 East Asia and the Pacific 1 1 Program services Protocol 251261 0 0 3 3 3 3 2882451 1381026 4263477 Central America and the Caribbean Research & Development Grant 0 250000 Cryptocurrency FMV Europe (Including Iceland & Greenland) Research & Development Grant 0 358020 Cryptocurrency FMV Europe (Including Iceland & Greenland) Research & Development Grant 0 29900 Cryptocurrency FMV Europe (Including Iceland & Greenland) Research & Development Grant 0 360000 Cryptocurrency FMV Middle East and North Africa Research & Development Grant 0 1324710 Cryptocurrency FMV North America Research & Development Grant 0 551000 Cryptocurrency FMV 7 Research & Development Grant South America 1 5000 Crystocurrency FMV Research & Development Grant East Asia and the Pacific 1 483000 Cryptocurrency FMV Research & Development Grant South America 1 9000 Cryptocurrency FMV Research & Development Grant East Asia and the Pacific 1 3700 Cryptocurrency FMV Research & Development Grant Europe (Including Iceland & Greenland) 1 5000 Crystocurrency FMV Research & Development Grant Europe (Including Iceland & Greenland) 1 7200 Crystocurrency FMV Research & Development Grant South Asia 1 15000 Crystocurrency FMV Research & Development Grant Europe (Including Iceland & Greenland) 1 16366 Crystocurrency FMV Education Grant South America 1 37774 Crystocurrency FMV Research & Development Grant South America 1 40778 Crystocurrency FMV Research & Development Grant North America 1 130000 Crystocurrency FMV 0 0 0 0 0 0 Part I, Line 2: All grant and grantee activities are public, including milestones reached, challenges encountered, and the results of completed projects. Zcash Foundation staff regularly check-in with grantees to ensure grant funds are being utilized appropriately and progress is being made on the funded projects. All grants are intended to further an exempt charitable, educational, or scientific purpose within the meaning of Section 501(c)(3) of the Internal Revenue Code, in accordance with ZF's charitable purpose. Grant funds provided must be used solely to further such exempt purposes and funded projects must be conducted in accordance with ZF's grant terms and conditions. 1 Blockchain Training Alliance Inc 31915 Rancho California Road Suite 200-217 Temecula CA 92591 824070232 0 50000 FMV based on USD Cryptocurrency Education 2Z Inc 5710 Foster Ave Worthington OH 43065 883050672 0 232000 FMV based on USD Cryptocurrency Education Sternidae Industries Inc 2810 N Church St PMB 73779 Wilmington DE 198024447 852826458 0 14600 FMV based on USD Cryptocurrency Research & Development The Foresight Institute 101-A Clay Street Unit 185 San Francisco CA 94111 770119168 501c3 0 17500 FMV based on USD Cryptocurrency Education ZecHub Inc 6440 Mount Bend Pl Rancho Cucamonga CA 91737 922853942 0 66722 FMV based on USD Cryptocurrency Education, Research & Development Red-Dev Inc 721 E Lincolnway Ave Suite 13 Cheyenne WY 82001 851875208 0 68718 FMV based on USD Cryptocurrency Research & Development Vergara Technologies LLC 540 Lake Street Suite A Excelsior MN 55331 874354136 0 70400 FMV based on USD Cryptocurrency Research & Development 37 Laines 1756 Lincoln Blvd 22 Santa Monica CA 90404 452926963 0 300000 FMV based on USD Cryptocurrency Education 1 7 Research and Development 3 255454 FMV based on USD Cryptocurrency Part I, Line 2: All grant and grantee activities are public, including milestones reached, challenges encountered, and the results of completed projects. Zcash Foundation staff regularly check-in with grantees to ensure grant funds are being utilized appropriately and progress is being made on the funded projects. All grants are intended to further an exempt charitable, educational, or scientific purpose within the meaning of Section 501(c)(3) of the Internal Revenue Code, in accordance with ZF's charitable purpose. Grant funds provided must be used solely to further such exempt purposes and funded projects must be conducted in accordance with ZF's grant terms and conditions. X X X 0 0 0 0 0 0 0 0 0 Jack Gavigan Executive Director 277519 0 15000 0 0 0 0 0 0 0 292519 0 0 0 Deirdre Connolly Cryptography Engineer 261240 0 0 0 0 0 0 0 7265 0 268505 0 0 0 Alex Bornstein Chief Operating Officer 204667 0 18500 0 0 0 0 0 5578 0 228745 0 0 0 X Cryptocurrency 2284 5608620 FMV 0 0 0 Form 990, Part III, line 2 Science: Technical decisions are best supported by scientific activities, such as rigorous validation, empirical measurement, and continued innovation and refinement. The Zcash Foundation therefore support these activities within our community. All cryptocurrencies, but especially Zcash, rely on cutting-edge contributions from the scientific research community, thus interaction with this community can also help the community stay healthy. We will encourage this scientific research and educate the public regarding the substance and benefits of these scientific developments. Form 990, Part VI, Section A, line 7a The Members elect the Board at the annual meeting of the Members. Form 990, Part VI, Section A, line 8b The Organization had no other committees. Form 990, Part VI, Section B, line 11b The Form 990 is to be submitted to the board and reviewed by each member. Form 990, Part VI, Section B, line 12c Whenever a Director or officer has a financial or personal interest in any matter coming before the Board of Directors, the affected person shall a) fully disclose the nature of the interest and b) withdraw from discussion, lobbying, and voting on the matter. Any transaction or vote involving a potential conflict of interest shall be approved only when a majority of disinterested Directors determine that it is in the best interest of the Corporation to do so. The minutes of meetings at which such votes are taken shall record such disclosure, abstention, and rationale for approval. The Chairman and any officers they deem necessary shall maintain a list of potential conflicts of interest on file with existing Directors, who will be required to submit and update this information as soon as a conflict arises. Additionally, prospective Directors will be required to submit their potential conflicts of interest prior to their election and the information will be made available to all members of the existing Board, in a manner determined at the Chairman's discretion. Form 990, Part VI, Section B, line 15 The Organzation conducted research on non-profit organizations with a similar budget, and the Executive Director's salary was created based on the research. Form 990, Part VI, Section C, line 19 These documents are available on the Organization's website. Form 990, Part IX, line 11g Other Professional Fees: Program service expenses 1,270,333. Management and general expenses 54,342. Fundraising expenses 0. Total expenses 1,324,675. Form 990, Amended Return Form 990 is amended to change Part VII reportable compensation column (D) to $292,519 for Jack Gavigan.