Open Security Alliance Inc

What it reported doing in 2024

The incident response "seal 911" initiative continued to shine in 2024 as they spearheaded and assisted on 1122 tickets which was a significant increase from 78 tickets in 2023. The team grew to over 50 active members and started establishing direct line communication groups with key protocol and application layer projects. Seal 911 started to gain significant credibility across the evm ecosystem and blocked >150,000 phishing domains and saved approximately $75m usd. "seal intel" (previously known as seal isac) was launched in may 2024 to improve information sharing in threat intelligence via opencti. It is responsible for gathering, analyzing, and disseminating information about new threat actors and trends. The number of early participants involved included nearly two dozen blockchain organizations.the "seal safe harbor" initiative was publicly announced in 2024 after several years of effort and assistance from top crypto researchers and attorneys to write and review the agreement. It is a standard framework that pre-authorizes whitehats to rescue funds during active exploits. The team helped 5 protocols to adopt during 2024, and helped various others prepare their adoptions. Additionally, the safe harbor initiative setup infrastructure - creating documentation & public resources for safe harbor, and working with various other blockchain security organizations to help integrate safe harbor into their platforms.the "seal wargames" initiative began in mid-2023 with the goal of preparing protocol teams for incident response through hands-on training. In 2024 wargames completed 10 drills with 5 protocols including some of the largest defi, liquid staking, and layer 2 networks in the ecosystem. The wargames initiative also released open source toolkits, infrastructure, and training materials to share learnings and best practices for incident preparation and response with the broader community.security alliance (seal) leadership and initiative leads also hosted and spoke at events during the 2024 year. This included hosting the annual seal assembly in belgium where there were approximately 100 guests that included donors, contributors, and top level security researchers. The team hosted a hackathon at devconnect and gave multiple cybersecurity presentations at the defi security summit and devconnect events.

Financial Efficiency

• Mission deployment rate: 90.3%; rating input score 90
• Program expense ratio: 84.8%; rating input score 85
• 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: 100%; rating input score 100; 76th percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 3 of 8 controls in place; rating input score 38
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Fail
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: Fail
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: -1.7%; rating input score 31; 31st percentile among comparable filings
• Total-asset coverage ratio: 0.24; rating input score 11; 11th percentile among comparable filings
• Liabilities to assets ratio: 0.14; rating input score 38; 38th percentile among comparable filings
• Officer compensation ratio: 5.6%; rating input score 51; 51st percentile among comparable filings

Growth

• Program expense growth: 135.3% per year; rating input score 100; 99th percentile among comparable filings
• Revenue growth: 64.4% per year; rating input score 100; 98th percentile among comparable filings
• Asset growth: 8.4% per year; rating input score 100; 53rd percentile among comparable filings