Art & Antiquities Blockchain Consortium Inc

Nonprofit profile at a glance

EIN
852744102
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2125305887
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Arts, Culture, and Humanities N.E.C.

Official website

Reported finances

Revenue
$4,080
Expenses
$70,268
Assets
$35,421
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

People named in this filing

  • VANESSA GRELLET (DIRECTOR)
  • ANNE BRACEGIRDLE (CO-PRES./DIRECTOR)
  • SUSAN DE MENIL (CO-PRES./DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purposes for which the corporation is formed are to engage in such exclusively charitable, educational, scientific, or religious activities of any kind or nature whatsoever as qualify it for exemption from taxation under section 501(a) of the internal revenue code of 1986 (the "code")or any successor section or statute of similar import, as an organization described in section 501(c) (3) of the code &, in particular, the corporation, believing that cultural artifacts, cultural property, & cultural heritage, including but not limited to antiquities, require enhanced protection against fraud, misuse, & secrecy, aims to (1) develop a new ownership of cataloguing paradigm for such objects designed to enhance public access, preserve and protect provenance and relevant historical facts, protect cultural stakeholders, & enhance learning opportunities for all, (2) educate stakeholders as to the new paradigm & related issues of looting & illegal trafficking to preserve cultural heritage.

What it reported doing in 2024

The organization coordinates research and educational initiatives regarding blockchain technology and guiding principles for cultural property, cultural heritage, and the cultural artifact market, with a focus on the tracing of antiquities objects. Antiquities objects and other artifacts have been traditionally fraught with concerns such as illegal trafficking; and museums, scholars, collectors, and other parties affected by the management of antiquities objects don't have access to many robust, neutral resources that trace the provenance of such objects.through education, discussion, and engagement, the organization is building an advisory network of leading experts, institutions, technology firms, academia, and consultants to research this topic and develop a consensus as to solutions, including the use of blockchain technology, as well as develop related regulatory and ethical standards which might accompany the use of such technology in the management of antiquities objects.the organization pursues its objectives through educational programming such as lectures, presentations, symposia, and panels for relevant audiences, including but not limited to museums and other cultural institutions, educational institutions, academic, prospective and confirmed members, potentialdonors, private wealth and estate advisors, art market professionals, etc. 60% is allocated to educational purposes. 10% to advisory services, work with stakeholders 30%.the organization's goal in working towards the development of a neutral blockchain technology is to create an ethical, transparent standard for the cultural heritage and antiquities market. The organization hopes to coordinate scientific research and outreach efforts into operating and creating a neutral ownership paradigm centered on a transparent blockchain protocol, which will track and manage antiquity ownership.

Operating model

Revenue model
Donor-supported. 91% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 22
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 91%; rating input score 91
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -1,622.3%; rating input score 4; 4th percentile among comparable filings
  • Total-asset coverage ratio: 0.5; rating input score 17; 17th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 69; 69th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 60; 60th percentile among comparable filings

Growth

  • Program expense growth: 69.9% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 23.8% per year; rating input score 100; 95th percentile among comparable filings
  • Asset growth: 44% per year; rating input score 100; 97th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 91% of spending went to programs
  • Governance: 9 of 9 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $64K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 13 of 13 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 4/100.
  • High — Sustainability: Total-asset coverage ratio scored 17/100.