Eit Digital Silicon Valley Foundation

Nonprofit profile at a glance

EIN
473461704
IRS 990 coverage
2017–2024
Forms available
Form 990 2024, Form 990-N 2015
Location
San Francisco, CA, USA
Phone
4153416614
Rating
68
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$293,115
Expenses
$293,115
Assets
$560,789
Liabilities
$302,785

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

Leadership & pay

5 people listed

Executive titles in this filing

  • FEDERICO MENNA (CEO AND PRESIDENT)

People named in this filing

  • LINNAR VIIK (CHAIRMAN OF SUPERVISORY BOARD (THRU 6/24))
  • VICTOR RICHARD BENJAMIN (CHAIRMAN OF SUPERVISORY BOARD (START 6/24))
  • JESUS CONTRERAS (CFO AND TREASURER)

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

To bring together researchers, academics and business people in the united states and europe, linking the knowledge triangle model education, research and industry across international boundaries to empower ict talent development for the future and bring ict innovations to life for the benefit of the public.

What it reported doing in 2024

--eit digital silicon valley hub national/regional support: national/regional support program and related events (e.g. Sec2sv and europesv).program details: support in silicon valley for national/regional initiatives that intend to connect european innovation ecosystems to silicon valley.--eit digital accelerator support in silicon valley: contributions to the eit digital accelerator. Program details: access-to-market support for european scaleup companies that are interested in doing business in silicon valley.--eit digital industry engagement program: support for industry partners, e.g. By organizing hackathons. Program details: establishing links between silicon valley companies and the european innovation ecosystem of eit digital, e.g. By means of hackathons.--eit digital education activities: student exchange and collaboration on specific education programs. Program details: recruitment of us students for eit digital education programs in europe and collaboration on specific education programs, e.g. With uc berkeley and coursera.--xkic global outreach: expanding global innovation effortsprogram details: the cross-kic global outreach programme connects the eit's innovation ecosystem with strategic global markets, narrowing the competitive gap between europe and other innovation leaders. It enables startups to attract investments, launch innovations globally, and build cross-border consortia.

Operating model

Revenue model
Affiliate-supported. 97% of the money available for current operations came from contributions from related organizations.
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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of voting board members are independent and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 84
  • Transparency & Controls: 92
  • Accountability: 18
  • Sustainability: 45
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 94.7%; rating input score 95
  • Program expense ratio: 94.7%; rating input score 95
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 7th 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: 0%; rating input score 39; 39th percentile among comparable filings
  • Total-asset coverage ratio: 1.91; rating input score 58; 58th percentile among comparable filings
  • Liabilities to assets ratio: 0.54; rating input score 10; 10th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -8.4% per year; rating input score 0; 12th percentile among comparable filings
  • Revenue growth: -13.7% per year; rating input score 0; 4th percentile among comparable filings
  • Asset growth: 7.1% per year; rating input score 100; 56th percentile among comparable filings

Details

  • Where the money goes: 94.7% of revenue deployed · 94.7% of spending went to programs
  • Governance: 0 of 1 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $277K in reported program spending
  • Leadership: top reported pay $0 · 5 people listed
  • Consistency: 22 of 22 current checks pass
  • Schedules: 5 filed schedules · includes major donors
  • Filing history: 7 filing years from 2017 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.

  • High — Accountability: Independent voting board scored 0/100.
  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 39/100.
  • Review — Sustainability: Total-asset coverage ratio scored 58/100.
  • High — Sustainability: Liabilities to assets ratio scored 10/100.