Shadowserver's mission is to make the internet more secure by bringing to light vulnerabilities, malicious activity and emerging threats. Since 2004, Shadowserver has been investigating malicious internet activity, collecting malware with its related analysis and meta data, working with law enforcement in various capacities, and sharing infection and malicious data with appropriate network owners. Shadowserver also provides educational presentations worldwide while encouraging the open sharing of data within the security industry and with vendor and government organizations. Shadowserver has emerged as one of the world's leading resources for internet security reporting and malicious activity investigation and maintains a global infrastructure spanning 80 countries. The organization is funded entirely from sponsorships, grants and charitable donations.

501(c)(3) charity; gifts are tax-deductible.
74¢ of each $1 spent went to programs.
Run by 5 volunteers and 5 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $279K a year · 9% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.0M
to officers and key staff · 22% of spending
Worth a look: pay to officers and key staff is 22% of spending; over 20%.
Pt VII · Sec A
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $138K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.7M
119% of total assets
Concern: liabilities are 119% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 4 voting members
Fine: 2 of 4 voting members are independent, half.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.1M
+13% vs prior year
Spent
$4.6M
To programs
74%
Net assets
−$432K
By yearFY2020–FY2024
Revenue
$4.1M
FY2024▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.4M
FY2021$2.6M
FY2022$2.5M
FY2023$3.7M
FY2024$4.1M
Expenses
$4.6M
FY2024▲ +37%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.9M
FY2021$3.6M
FY2022$3.2M
FY2023$3.3M
FY2024$4.6M
Net assets
−$432K
FY2024▼ -401%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.8M
FY2021$729K
FY2022−$109K
FY2023$143K
FY2024−$432K

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Exemption reinstated (2018-05-15). Per the IRS revocation list. Latest filing on record: FY2024. IRS ruling in Apr 2020.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $3.4M Management & general 25% · $1.1M Fundraising 1% · $55K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

9 people listed on the 990; $1.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
Senior Architect
$323,625Pt VII · Sec A
Alliance Director
$210,458Pt VII · Sec A
Senior System Administrator
$176,838Pt VII · Sec A
Senior Security Engineer
$169,432Pt VII · Sec A
System Administrator
$120,593Pt VII · Sec A
$0Pt VII · Sec A
Trustee, CFO
$0Pt VII · Sec A
$0Pt VII · Sec A

Jason Rhoads’s $324K as Senior Architect is at the 97th percentile of top reported officer pay among 3394 $1–10M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 6 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Jason Rhoads$323,625$323,853$315,203$301,386$128,057
Charles a Eberle IV$210,458$195,781———
Richard Perlotto———$193,115$125,945
Duncan Taylor$176,838$177,724$172,412——
David De Coster$169,432$171,338$141,771——
Dimitri Nguyen$120,593$121,127$116,541$111,720—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See The Shadowserver Foundation INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Investigates and reports internet threats, vulnerabilities, and malicious activity to improve online security.

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3 programs · $3.4M · in their own filed words · FY2024
01

Special Projects

(1) law enforcement special projects team - a team of people and their efforts to pursue and take down cyber-criminal activities and infrastructures. (2) registrar of last resort, a special purpose DNS registrar for registering and managing malicious domain names used for MALWARE/BOTNET command and control, particularly high-volume…

$3.0Mprogram expense
02

Backend Management System

Projects for management, upgrades, and expansion of the shadowserver data center and related equipment to include development of supporting technologies for new and existing missions and maintenance of existing data storage and query systems, and creation of daily reports (threat intelligence feeds) to the internet defender community.

$271Kprogram expense
03

Core Data Collection Projects

(1) sinkholing, a project to redirect malicious traffic by taking over malicious domains in order to seize or disrupt botnets and warn victims of cybercrime; (2) HONEYPOT/HONEYNET, a project to develop and maintain a worldwide set of emulated vulnerable systems to capture and analyze malicious internet traffic; (3) malware repository, a…

$144Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$138K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$4.1M
Ln 12
Gifts and grantsLn 1h$4.0M
Fees for servicesLn 2g$112K
Investment incomeLn 3$57
Money outPt IX
$4.6M
Ln 25
Programscol B$3.4M
Managementcol C$1.1M
Fundraisingcol D$55K
Owns and owesPt X
−$432K
net assets · Ln 32
Cash and savingsLn 1–2$794K
Total assetsLn 16$2.3M
LiabilitiesLn 26$2.7M
PeoplePt VI, VII
9
listed · VII A
PaidVII A5
Voting boardVI 1a4
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.0M
Fees for servicesLn 2g$112K
Investment incomeLn 3$57
Total revenueLn 12$4.1M
Assets in detailPt X, end of year
CashLn 1$794K
Cash and savings togetherLn 1–2$794K
Land, buildings, equipmentLn 10c$21K
Other assetsLn 15$439K
Total assetsLn 16$2.3M
LiabilitiesLn 26$2.7M
Net assetsLn 32−$432K
OperationsPt I, VI
EmployeesI 55
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$434K$794K
Land, buildings, equipmentLn 10c$58K$21K
Total assetsLn 16$2.2M$2.3M
LiabilitiesLn 26$2.1M$2.7M
Net assetsLn 32$143K−$432K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$385K$248K$136K
Other salaries and wagesLn 7$733K$473K$260K
Pension plan contributionsLn 8$43K$28K$15K
Other employee benefitsLn 9$197K$127K$70K
Payroll taxesLn 10$67K$43K$24K
Legal feesLn 11b$8K$8K
Accounting feesLn 11c$167K$167K
Other fees for servicesLn 11g$1.2M$1.1M$44K$53
Office expensesLn 13$23K$7K$13K$3K
Information technologyLn 14$529K$378K$151K
OccupancyLn 16$667K$478K$188K$547
TravelLn 17$147K$87K$9K$51K
Depreciation, depletion and amortizationLn 22$37K$18K$19K
InsuranceLn 23$20K$20K
Other expenses (24a–d)Ln 24$377K$373K$3K
Total functional expensesLn 25$4.6M$3.4M$1.1M$55K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $4.1M$4.6M−$454K−$432K 990 PDF
FY2023 $3.7M$3.3M$325K$143K 990 PDF
FY2022 $2.5M$3.2M−$714K−$109K 990 PDF
FY2021 $2.6M$3.6M−$1.0M$729K 990 PDF
FY2020 $3.4M$2.9M$483K$1.8M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $4,124,872 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,070,311$4,012,915
I-9 Program service revenuePrior year $589,887$111,900
I-10 Investment incomePrior year $461$57
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $3,660,659$4,124,872
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,357,441$1,424,711
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,978,353$3,154,073
I-18 Total expensesPrior year $3,335,794$4,578,784
I-19 Revenue less expensesPrior year $324,865−$453,912
Part VI · Governance 2 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members2
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue $4,124,872 across 5 lines filed
VIII-1f All other contributions, gifts and grants$4,012,915
VIII-1h Total contributions, gifts and grants$4,012,915
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $111,900$111,900
VIII-3 Investment incomeExcluded from tax $57$57
VIII-12 Total revenueRelated to mission $111,900 · Unrelated business $0 · Excluded from tax $57$4,124,872
Part IX · Statement of functional expenses $4,578,784 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $248,350 · Management $136,399$384,749
IX-7 Other salaries and wagesPrograms $473,058 · Management $259,817$732,875
IX-8 Pension plan contributionsPrograms $27,535 · Management $15,124$42,659
IX-9 Other employee benefitsPrograms $127,213 · Management $69,869$197,082
IX-10 Payroll taxesPrograms $43,471 · Management $23,875$67,346
IX-11b Legal feesManagement $8,485$8,485
IX-11c Accounting feesManagement $167,426$167,426
IX-11g Other fees for servicesPrograms $1,134,203 · Management $44,431 · Fundraising $53$1,178,687
IX-13 Office expensesPrograms $6,735 · Management $12,991 · Fundraising $2,780$22,506
IX-14 Information technologyPrograms $378,323 · Management $150,593$528,916
IX-16 OccupancyPrograms $478,270 · Management $188,223 · Fundraising $547$667,040
IX-17 TravelPrograms $87,145 · Management $8,679 · Fundraising $51,457$147,281
IX-22 Depreciation, depletion and amortizationPrograms $17,728 · Management $19,174$36,902
IX-23 InsuranceManagement $19,903$19,903
IX-24 Other expenses (24a–d)Programs $373,448 · Management $3,479$376,927
IX-25 Total functional expensesPrograms $3,395,479 · Management $1,128,468 · Fundraising $54,837$4,578,784
Part X · Balance sheet $2,299,846 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $434,140$793,777
X-3 Pledges and grants receivableStart of year $146,887$931,817
X-9 Prepaid expenses and deferred chargesStart of year $91,281$113,749
X-10c Land, buildings and equipment, netStart of year $58,231$21,329
X-15 Other assetsStart of year $1,475,677$439,174
X-16 Total assetsStart of year $2,206,216$2,299,846
X-17 Accounts payable and accrued expensesStart of year $629,532$1,298,221
X-18 Grants payableStart of year $0$391,600
X-19 Deferred revenueStart of year $269,580$549,350
X-25 Other liabilitiesStart of year $1,163,611$492,535
X-26 Total liabilitiesStart of year $2,062,723$2,731,706
X-27 Net assets without donor restrictionsStart of year $143,493−$431,860
X-32 Total net assets or fund balancesStart of year $143,493−$431,860
X-33 Total liabilities and net assetsStart of year $2,206,216$2,299,846
Part XI · Reconciliation of net assets −$431,860 net assets at year end
XI-1 Total revenue$4,124,872
XI-2 Total expenses$4,578,784
XI-3 Revenue less expenses−$453,912
XI-4 Net assets at start of year$143,493
XI-9 Other changes in net assets−$121,441
XI-10 Net assets at end of year−$431,860

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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