Association for Digital Asset FY2021 filing

New York, NYUnknown exempt organizationEIN 83-2650302Revenue $921K in FY2021

On file with the IRStheadam.io1177 Avenue of the Americas 5th FL · New York, NY

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Foster fair Digital Asset markets worthy of the trust of participants, investors, & regulators

$345K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 7
filings with a surplus
Average surplus $0 a year · under 1% of revenue · last 7 filings
Worth a look: a surplus in 4 of the last 7 filings.
Pt I · Ln 19 · 7 filings
Pay to officers and key staff
$345K
to officers and key staff · 48% of spending
Concern: pay to officers and key staff is 48% of spending; over 30%.
Pt VII · Sec A
Cash reserves
4 mo
of spending, in cash
Looks good: 4.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$921K
+553% vs prior year
Spent
$714K
Net assets
$271K
By yearFY2019–FY2025
Revenue
$921K
FY2021▲ +553%
Tap a bar for its year
Revenue by fiscal year
FY2019$769K
FY2020$141K
FY2021$921K
FY2022$1.7M
FY2023$2.1M
FY2024$0
FY2025$0
Expenses
$714K
FY2021▲ +27%
Tap a bar for its year
Expenses by fiscal year
FY2019$284K
FY2020$562K
FY2021$714K
FY2022$1.0M
FY2023$1.5M
FY2024$474K
FY2025$997K
Net assets
$271K
FY2021▲ +327%
Tap a bar for its year
Net assets by fiscal year
FY2019$485K
FY2020$63K
FY2021$271K
FY2022$957K
FY2023$1.5M
FY2024$997K
FY2025$0

From the FY2021 Form 990 (year ending March 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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

Who runs it and what they're paid

15 people listed on the 990; $345K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$167,759Pt VII · Sec A
Chief Executive Officer (fmr)
$115,222Pt VII · Sec A
Chief Executive Officer
$62,500Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
President
$0Pt VII · Sec A

Compensation history total reportable pay by year · 5 named individuals · Part VII

NameFY2024FY2023FY2022FY2021
Michelle Bond—$507,122$308,333$62,500
Robert Baldwin—$257,366$139,846—
Kelly McGrath Left 1220———$167,759
Jeffrey Blockinger Left 1020———$115,222
Brad Vopni$1,324———

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 Association for Digital Asset 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 15aYes

Programs and updates

Promotes trustworthy digital asset markets for all participants.

Questions for Association for Digital Asset

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Provided by the organization

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2 programs · in their own filed words · FY2020
01

Membership in adam includes trading platforms, custodians, investors, asset managers, traders, liquidity providers, and brokers that are active in digital asset markets or seek to participate in those markets.

Pt IX · col B
02

Release of adam code of conduct, designed to promote industry standards and ethical conduct by digital asset market participants. The code promotes integrity, fairness, and efficiency in digital asset markets, informs market participants on best practices, and complements existing regulations.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · this organization's grantmaking
Grants paid · 4 grants · $500K · 2024–2024
Chamber of Digital CommerceDC · FY2024$150,000
Blockchain AssociationDC · FY2024$150,000
Coin Center INCDC · FY2024$50,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$921K
Ln 12
Fees for servicesLn 2g$915K
Other incomeLn 4–11$6K
Money outPt IX
$714K
Ln 25
Owns and owesPt X
$271K
net assets · Ln 32
Cash and savingsLn 1–2$271K
Total assetsLn 16$271K
LiabilitiesLn 26$0
PeoplePt VI, VII
15
listed · VII A
PaidVII A3
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$915K
Other incomeLn 4–11$6K
Total revenueLn 12$921K
Assets in detailPt X, end of year
CashLn 1$271K
Cash and savings togetherLn 1–2$271K
Total assetsLn 16$271K
LiabilitiesLn 26$0
Net assetsLn 32$271K
OperationsPt I, VI
EmployeesI 53
VolunteersI 612
Fiscal year endsHeaderMarch
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 FY21End FY21
Cash and savingsLn 1–2$63K$271K
Total assetsLn 16$63K$271K
LiabilitiesLn 26$0$0
Net assetsLn 32$63K$271K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$75K
Other salaries and wagesLn 7$345K
Other employee benefitsLn 9$41K
Payroll taxesLn 10$21K
Legal feesLn 11b$4K
Other fees for servicesLn 11g$224K
Office expensesLn 13$286
OccupancyLn 16$838
TravelLn 17$3K
Total functional expensesLn 25$714K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $0$997K−$997K$0 990 PDF
FY2024 $0$474K−$474K$997K 990 PDF
FY2023 $2.1M$1.5M$514K$1.5M 990 PDF
FY2022 $1.7M$1.0M$687K$957K 990 PDF
FY2021 Viewing $921K$714K$207K$271K 990 PDF
FY2020 $141K$562K−$421K$63K 990 PDF
FY2019 $769K$284K$485K$485K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $921,055 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $141,001$915,000
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$6,055
I-12 Total revenuePrior year $141,001$921,055
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 $19,312$481,554
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $542,888$232,309
I-18 Total expensesPrior year $562,200$713,863
I-19 Revenue less expensesPrior year −$421,199$207,192
Part VI · Governance 10 of 10 board members independent, 2 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $921,055 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $915,000$915,000
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $6,055$6,055
VIII-12 Total revenueRelated to mission $915,000 · Unrelated business $0 · Excluded from tax $6,055$921,055
Part IX · Statement of functional expenses $713,863 across 9 lines filed
IX-5 Pay of current officers, directors and key staff$75,000
IX-7 Other salaries and wages$344,680
IX-9 Other employee benefits$40,874
IX-10 Payroll taxes$21,000
IX-11b Legal fees$4,280
IX-11g Other fees for services$224,097
IX-13 Office expenses$286
IX-16 Occupancy$838
IX-17 Travel$2,808
IX-25 Total functional expenses$713,863
Part X · Balance sheet $270,513 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $63,321$270,513
X-16 Total assetsStart of year $63,321$270,513
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $63,321$270,513
X-33 Total liabilities and net assetsStart of year $63,321$270,513
Part XI · Reconciliation of net assets $270,513 net assets at year end
XI-1 Total revenue$921,055
XI-2 Total expenses$713,863
XI-3 Revenue less expenses$207,192
XI-4 Net assets at start of year$63,321
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$270,513

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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