2025-11-10T08:46:35-06:00 2024-12-31 582676261 Rogers & Company PLLC 8300 Boone Boulevard Suite 600 Vienna VA 22182 990 2024-01-01 820707962 Zcash Foundation ZCAS 5714185390 1390 Chain Bridge Road A132 McLean VA 22101 Andrew Miller Chair 5714185390 2025-11-10 1 1 Jie Chen CPA P01049760 7038930300 2024 2025-03-06 01:10:19Z Andrew Miller 1390 Chain Bridge Road A132 McLean VA 22101 8172987 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 21 0 0 0 5608672 4430505 18254 0 -881468 -661418 0 0 4745458 3769087 4977436 4771812 0 0 1821962 1081256 0 0 0 3117264 2099466 9916662 7952534 -5171204 -4183447 16155832 23362496 145566 89824 16010266 23272672 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. 0 0 5070084 4705770 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. 981559 16952 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. 590019 FROST: FROST (Flexible Round-Optimized Schnorr Threshold) is a cryptographic protocol that enables efficient and secure threshold signing--where only a minimum number of participants are required to generate a valid signature. FROST advances the state of the art in threshold Schnorr signature schemes by significantly reducing network overhead and supporting concurrent signing operations without compromising security. Its novel design includes safeguards against known forgery attacks, making it a robust and flexible tool for modern cryptographic applications. The Zcash Foundation supports the continued development and adoption of FROST as part of its mission to advance privacy-preserving infrastructure. 97111 Research: 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. 526476 49090 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. 623587 49090 7265249 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 5 0 1 21 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 Marta Belcher Director 0.50 X 0 0 0 Jack Gavigan Executive Director 40.00 X X 201647 0 0 Alex Bornstein Chief Operating Officer 40.00 X 233500 0 12092 Danika Delano Operations Director 40.00 X 126042 0 13600 561189 0 25692 3 0 1 0 CPL GOUVEA LTDA Rua Comendador Torlogo Dauntre 74 Campinas BR Cryptography engineer and protocol desig 240987 Arya Solhi 50 Silver Linden Drive 59 Richmond Hill CA Core engineer and protocol designer 173047 Marek Bielik Chaloupeckho 311/11 Prague EZ Cryptography engineer and protocol desig 163283 Alfredo Garcia 54 CL 7315 P MZ- M SOL 136 Y CALLE Bella Vista UY Rust systems engineer and protocol desig 150830 Livingston LLC PO Box 3401 Grand Junction CO 81502 Researcher and cryptographer 143287 8 4430505 4422105 4430505 13843 13843 3728639 4403900 -675261 -675261 -675261 3769087 0 0 -661418 X 902400 902400 498800 498800 3370612 3370612 447239 319990 127249 474181 421603 52578 18497 13234 5263 98859 84263 14596 42480 30394 12086 173994 2808 171186 59731 59731 1432422 1415208 17214 1789 1789 209702 103012 106690 10198 9878 320 12829 12384 445 81088 78272 2816 32644 32644 Research expenses 84000 1356 82644 Dues and subscriptions 1069 1035 34 7952534 7265249 687285 0 5001500 2872025 81925 28701 10183381 19572744 889026 889026 16155832 23362496 130566 89824 15000 0 145566 89824 X -3726888 5576426 19737154 17696246 16010266 23272672 16155832 23362496 -4183447 11445853 0 X 0 1 X 1 0 X 4308228 25641403 14939418 5608672 4430505 54928226 4308228 25641403 14939418 5608672 4430505 54928226 1678403 53249823 13389 2481 4062 27900 13843 61675 54989901 39233 0.96840 0.87890 X 0 Virtual currency 19572744 F 19572744 X 15214940 11445853 11445853 3769087 0 3769087 7952534 0 7952534 0 7952534 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. 0 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, Education, Research & Development Grant 1164134 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium Research & Development Grant 168215 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium Research & Development Grant 20000 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium Research & Development Grant 138752 Middle East and North Africa - Algeria, Bahrain, Djibouti, Egypt, Research & Development Grant 1321458 North America - Canada and Mexico, but not the United States Research & Development Grant 185000 East Asia and the Pacific - Australia, Brunei, Burma, Cambodia, Research & Development Grant 137500 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium Research and Development Grant 1200 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium Education Grant 7500 South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Research & Development Grant 450 South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Research & Development Grant 135200 South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Education Grant 66614 South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Research & Development Grant 3000 South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, Education Grant 11590 South Asia - Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Research & Development Grant 10000 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 1 1 Program services Protocol & Science 178148 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium 1 1 Program Services Science 215041 0 0 2 2 2 2 3136259 627543 3763802 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, Education, Research & Development 1151000 13134 Cryptocurrency FMV Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium Research & Development 0 168215 Cryptocurrency FMV Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium Research & Development 0 20000 Cryptocurrency FMV Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium Research & Development 25884 112868 Cryptocurrency FMV Middle East and North Africa - Algeria, Bahrain, Djibouti, Egypt, Research & Development 0 1321458 Cryptocurrency FMV North America - Canada and Mexico, but not the United States Research & Development 0 185000 Cryptocurrency FMV 1 5 Research & Development East Asia and the Pacific - Australia, Brunei, Burma, Cambodia, 1 137500 Cryptocurrency FMV Research & Development Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgiu 1 1200 Cryptocurrency FMV Education Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgiu 1 7500 Cryptocurrency FMV Research & Development South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, 1 450 Crystocurrency FMV Research & Development South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, 1 135200 Crystocurrency FMV Education South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, 1 66614 Crystocurrency FMV Research & Development South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, 1 3000 Crystocurrency FMV Education South America - Argentina, Bolivia, Brazil, Chile, Columbia, Ecuador, 1 11590 Crystocurrency FMV Research & Development South Asia - Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, 1 10000 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 The Tor Project Inc Po Box 5 Winchester NH 03470 208096820 0 320944 FMV based on USD Cryptocurrency Research & Development FathomX Inc 108 West 13th Street Wilmington DE 19801 883223005 0 33750 FMV based on USD Cryptocurrency Research & Development 37 Laines 1756 Lincoln Blvd 22 CA Santa Monica CA 90404 452926963 0 300000 FMV based on USD Cryptocurrency Education Red-Dev Inc 721 E Lincolnway Ave Suite 13 Cheyenne WY 82001 851875208 0 56686 FMV based on USD Cryptocurrency Research & Development ZecHub Inc 6440 Mount Bend Pl Rancho Cucamonga CA 91737 922853942 0 79318 FMV based on USD Cryptocurrency Research & Development Vergara Technologies LLC PO Box 46387 Plymouth MN 55446 874354136 0 109700 FMV based on USD Cryptocurrency Research & Development 0 6 Research & Development 1 321600 FMV based on USD Cryptocurrency Research & Development 1 111000 FMV based on USD Cryptocurrency Research & Development 1 7200 FMV based on USD Cryptocurrency Research 1 35000 FMV based on USD Cryptocurrency Education 1 6000 FMV based on USD Cryptocurrency Research & Development 1 18000 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 Alex Bornstein Chief Operating Officer 211500 0 22000 0 0 0 0 0 12092 0 245592 0 0 0 Jack Gavigan Executive Director 201647 0 0 0 0 0 0 0 0 0 201647 0 0 0 X Cryptocurrency 24 4422105 FMV 0 0 0 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 1,415,208. Management and general expenses 17,214. Fundraising expenses 0. Total expenses 1,432,422.