Interledger Foundation

Nonprofit profile at a glance

EIN
842364885
IRS 990-PF coverage
2024–2024
Forms available
Form 990 2023, Form 990-PF 2024, Form 990-T 2024
Location
Tampa, FL, USA
Phone
2018628453
Rating
82
Verdict
STRONG
Rating confidence
Standard
Sector
International Development

Reported finances

Revenue
$5,433,500
Expenses
$11,487,604

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

Overview

Mission

International Development

What it reported funding in 2024

The foundation reported 13 grants totaling $1,461,624. The stated grant purposes included future money cohort 2023 - grantee, interledger wallet services, grant award - provision of ilp enabled wallet, and it implementation, support, consultancy service for credit union sector, plus 10 other reported purposes.

Operating model

Revenue model
Investment-supported. 100% of the foundation's positive operating resources came from recurring investment income.
Distribution model
Direct operator. The foundation carried out 86% of its reported charitable disbursements directly.
  • Includes asset-sale income: Asset-sale income is shown separately from recurring resources when classifying the revenue model.

The verdict

STRONG - A large share of available resources goes to charitable grants and the filing identifies who received its grants. A relatively small share of spending goes to grants and the filing reports one or more activities that warrant closer review.

Rating breakdown

  • Grant Deployment: 100
  • Cost Efficiency: 18
  • Transparency: 100
  • Compliance: 98
  • Endowment Health: 88

Detailed rating inputs

Grant Deployment

  • Grant deployment ratio: 100%; rating input score 100; 94th percentile among comparable filings

Cost Efficiency

  • Grant expense ratio: 17.9%; rating input score 18; 9th percentile among comparable filings

Transparency

  • Grant recipient disclosure: Yes; rating input score 100

Compliance

  • Part VII-B activity disclosures: 18 of 19 controls in place; rating input score 95
    • Property sale or exchange with a disqualified person: Pass
    • Borrowing from or lending to a disqualified person: Pass
    • Goods, services, or facilities involving a disqualified person: Pass
    • Compensation paid to a disqualified person: Pass
    • Assets transferred to a disqualified person: Pass
    • Payment to a government official: Pass
    • Uncorrected prior self-dealing: Pass
    • Prior-year undistributed income: Pass
    • Excess business holdings: Pass
    • Investments that may jeopardize charitable purposes: Pass
    • Uncorrected prior-year jeopardizing investments: Pass
    • Attempt to influence legislation: Pass
    • Attempt to influence an election: Pass
    • Grants to individuals: Pass
    • Grants to organizations: Fail
    • Spending for a noncharitable purpose: Pass
    • Funds received for a personal-benefit contract: Pass
    • Premiums paid on a personal-benefit contract: Pass
    • Prohibited tax-shelter transaction: Pass
  • Filing consistency checks: 10; rating input score 100

Endowment Health

  • Endowment-health comparison: 47.42; rating input score 88; 88th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Grants: 100% of grant recipient detail disclosed
  • Payout: At least 100% grant deployment rate
  • Trustees: Filed trustees detail
  • Self-dealing: 100% of reviewed questions answered “No”
  • Investments: 88th percentile for endowment coverage
  • Consistency: 10 of 10 current checks pass
  • Contacts: How to reach this organization
  • Money network: 46 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Cost Efficiency: Grant expense ratio scored 18/100.
  • Review — Compliance: Part VII-B activity disclosures: Grants to organizations not reported.