Identity Technologies Inc

Nonprofit profile at a glance

EIN
834231391
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Las Vegas, NV, USA
Phone
4152355165
Rating
53
Verdict
MIXED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$6,647,375
Expenses
$2,400,049
Assets
$2,716,306
Liabilities
$16,685

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

Leadership & pay

4 people listed

Executive titles in this filing

  • PHILLIP SHOEMAKER (EXECUTIVE DIRECTOR/SEC)
  • VINODAN K LINGHAM (PRESIDENT)

Highest reported compensation

  • PHILLIP SHOEMAKER (EXECUTIVE DIRECTOR/SEC): $375,132 total reported compensation
  • JAMES KILROE (DIRECTOR): $30,000 total reported compensation

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

Overview

Mission

To create a self sustaining new identity economy, bringing low cost digital identifications to the world, increasing job opportunities, reducing the cost of identity verification, all while increasing quality in this merit based marketplace.

What it reported doing in 2024

To create a self sustaining, self sovereign identity marketplace, enabling the creation of low cost, digital identifications, while increasing job opportunities and reducing the cost of identity verifications.

Operating model

Revenue model
Earned-program. 99% of the money available for current operations came from fees and other program revenue.
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

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence.

Rating breakdown

  • Financial Efficiency: 52
  • Transparency & Controls: 60
  • Accountability: 54
  • Sustainability: 69
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 35.2%; rating input score 35
  • Program expense ratio: 97.4%; rating input score 97
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 75%; rating input score 75; 13th percentile among comparable filings
  • Governance controls: 2 of 8 controls in place; rating input score 25
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: 63.9%; rating input score 95; 95th percentile among comparable filings
  • Total-asset coverage ratio: 1.13; rating input score 41; 41st percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 88; 88th percentile among comparable filings
  • Officer compensation ratio: 16.9%; rating input score 16; 16th percentile among comparable filings

Growth

  • Program expense growth: -24.6% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -17.7% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: -34.8% per year; rating input score 0; 0th percentile among comparable filings

Details

  • Where the money goes: 35.2% of revenue deployed · 97.4% of spending went to programs
  • Governance: 3 of 4 board members independent · 2 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.3M in reported program spending
  • Leadership: top reported pay $375K · 4 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 3 contractors listed · $426K reported
  • Consistency: 26 of 26 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • 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 — Financial Efficiency: Mission deployment rate scored 35/100.
  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Accountability: Governance controls: 5 of 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
  • High — Sustainability: Officer compensation ratio scored 16/100.