Nonprofit · EIN 85-2722249
OPEN SATS INITIATIVE INC
Tax-exempt · PUNTA GORDA, FL 33982
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $28,836,331 | $9,885,182 | $18,951,149 | $51,258,946 | $0 | $51,258,946 |
| December 31, 2023 | 990 | $11,337,061 | $3,972,066 | $7,364,995 | $13,919,479 | $0 | $13,919,479 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $24,292,254
- Program service revenue
- $0
- Investment income
- $4,544,077
- Net gain from sales of assets
- $4,544,077
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $9,363,497
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Legal fees
- $4,592
- Accounting fees
- $18,136
- Program services (functional)
- $9,363,497
- Management and general (functional)
- $521,685
Balance sheet and other
- Total assets, start of year
- $13,919,479
- Total assets, end of year
- $51,258,946
- Total liabilities, end of year
- $0
- Net assets, end of year
- $51,258,946
- Gross receipts
- $33,655,751
- Employees
- 0
- Volunteers
- 0
- Year formed
- 2020
- State of legal domicile
- FL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| CHRONOLOGY UNIPESSOAL LDA | OFFICER Officer | 40 | $223,286 |
| IB CYPHERUST LLC | DIRECTOR Trustee or director | 2 | $0 |
| FREEDOM TECH LLC | DIRECTOR Trustee or director | 2 | $0 |
| BIGREBASE LLC | DIRECTOR Trustee or director | 2 | $0 |
| NECESSARY TROUBLE LLC | DIRECTOR Trustee or director | 2 | $0 |
| FULL DISCLOSURE LLC | DIRECTOR Trustee or director | 2 | $0 |
| STAY HUMBLE LLC | DIRECTOR Trustee or director | 2 | $0 |
| ORANGE COIN GOOD LLC | DIRECTOR Trustee or director | 2 | $0 |
| X0F CORP | DIRECTOR Trustee or director | 2 | $0 |
| INNOCUOUS WIDGETS LLC | DIRECTOR Trustee or director | 2 | $0 |
| BENJAMIN PRICE | OFFICER Officer | 10 | $0 |
990 for the year ended December 31, 2023: 12 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Chronology Unipessoal LDA | OFFICER Officer | 40 | $117,488 |
| HARPER SINGLETON Termed 623 | OFFICER Officer | 2 | $11,980 |
| IB Cypherust LLC | DIRECTOR Trustee or director | 2 | $0 |
| Freedom Tech LLC | DIRECTOR Trustee or director | 2 | $0 |
| BigRebase LLC | DIRECTOR Trustee or director | 2 | $0 |
| Necessary Trouble LLC | DIRECTOR Trustee or director | 2 | $0 |
| Full Disclosure LLC | DIRECTOR Trustee or director | 2 | $0 |
| Stay Humble LLC | DIRECTOR Trustee or director | 2 | $0 |
| Orange Coin Good LLC | DIRECTOR Trustee or director | 2 | $0 |
| X0F Corp | DIRECTOR Trustee or director | 2 | $0 |
| Innocuous Widgets LLC | DIRECTOR Trustee or director | 2 | $0 |
| BENJAMIN PRICE | OFFICER Officer | 10 | $0 |
Address and contacts
- Address (IRS master file)
- 42041 CYPRESS PKWY UNIT 4 PMB 207, PUNTA GORDA, FL 33982-5140
- Principal officer (990 for 2024)
- BENJAMIN PRICE, 42041 CYPRESS PARKWAY 4-207, PUNTA GORDA, FL 33982
- Signed the 990
- BENJAMIN PRICE, FOUNDER
- Phone
- (574) 212-1002
- Website
- HTTPS://OPENSATS.ORG/
- Return prepared by
- SATOSHI PACIOLI ACCOUNTING SERVICES
Mission
TO FUND BITCOIN-RELATED FREE AND OPEN-SOURCE PROJECTS AND ASSOCIATED EDUCATION AND RESEARCH INITIATIVES.
Program accomplishments
- TO HELP SUPPORT AND MAINTAIN A SUSTAINABLE ECOSYSTEM OF FUNDING FOR FREE AND OPEN SOURCE PROJECTS AND CONTRIBUTORS, ESPECIALLY BITCOIN RELATED PROJECTS AND PROJECTS WHICH HELP BITCOIN FLOURISH.grants $9,363,497 · revenue $24,292,254
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 85-2722249
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S01)
- Assets (IRS master file)
- $51,258,946
- Income (IRS master file)
- $33,655,751
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $28,836,331 | $9,885,182 | $51,258,946 | IRS |
| 990 | December 2023 | $11,337,061 | $3,972,066 | $13,919,479 | XML |
| 990 | December 2022 | $1,793,905 | $282,375 | $1,375,133 | IRS |
| 990-EZ | December 2021 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 85-2722249).
Questions about OPEN SATS INITIATIVE INC
- What is the EIN of OPEN SATS INITIATIVE INC?
- The employer identification number (EIN) of OPEN SATS INITIATIVE INC is 85-2722249.
- Is OPEN SATS INITIATIVE INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2021.
- Are donations to OPEN SATS INITIATIVE INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does OPEN SATS INITIATIVE INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of OPEN SATS INITIATIVE INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did OPEN SATS INITIATIVE INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of OPEN SATS INITIATIVE INC?
- The 990 for the year ended December 31, 2024 names BENJAMIN PRICE.
- Who are the officers and directors of OPEN SATS INITIATIVE INC?
- The 990 for the year ended December 31, 2024 lists 11 people; 1 received compensation from the organization, the highest $223,286 (CHRONOLOGY UNIPESSOAL LDA, OFFICER).
- How much revenue does OPEN SATS INITIATIVE INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $28,836,331, expenses of $9,885,182 and total assets of $51,258,946 at year end.
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