Overview
What is Fintech Open Source Foundation?
Fintech Open Source Foundation, based in San Francisco, California, is a nonprofit organization focused on promoting open source adoption in the financial services sector. In 2020, the foundation experienced significant growth, with a record number of monthly commits and notable contributions from major investment banks. This surge in acceptance of open source and open standards as collaboration tools within the financial services industry underscores the foundation's mission. Fintech Open Source Foundation aims to provide an independent setting for developing software and standards addressing common industry challenges, fostering innovation, and contributing to the growth of the financial services industry. The organization also launched Special Interest Groups (SIGs) as a collaborative initiative, engaging regulators and ensuring a comprehensive ecosystem involvement in driving innovation.
Official website here: www.finos.org
Is Fintech Open Source Foundation legitimate?
Fintech Open Source Foundation is a legitimate nonprofit organization registered as a 501(c)(6) entity. Fintech Open Source Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $788,745
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Other Salaries and Wages: $0
For more financial information, click here
Official website here: www.finos.org
What is the mission statement of Fintech Open Source Foundation?
The Fintech Open Source Foundation's mission is to provide an independent platform for delivering software and standards that address common challenges in the financial services industry. This organization believes in the importance of open source adoption for the growth of the financial services sector. In 2020, the foundation experienced significant success, breaking its previous record for monthly commits by 40%. This success highlighted the increasing acceptance of open source and open standards as essential tools for collaboration within the financial services industry. Moreover, Fintech Open Source Foundation launched Special Interest Groups (SIGs) as a form of collaboration, including a SIG focused on engaging regulators, ensuring a comprehensive involvement as they drive innovation in financial services.
Official website here: www.finos.org
Who is the CEO of Fintech Open Source Foundation?
Edwin Oh is the Director of Fintech Open Source Foundation.
Official website here: www.finos.org
What is the revenue of Fintech Open Source Foundation?
Fintech Open Source Foundation's revenue in 2020 was $1,325,890.
Official website here: www.finos.org
Who are the executives of Fintech Open Source Foundation and what are their salaries?
The average compensation at Fintech Open Source Foundation during 2020 was $112,678. There are 7 employees at Fintech Open Source Foundation.
Here are 18 key members and their salaries:
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Official website here: www.finos.org
Where can I find the form 990 for Fintech Open Source Foundation?
Fintech Open Source Foundation's most recent form 990 was submitted in 2020 and can be accessed here.
Official website here: www.finos.org
Learn more at the official website: www.finos.org
Mission Statement of Fintech Open Source Foundation
The Fintech Open Source Foundation, in its mission, aims to create an independent platform that fosters the adoption of open source software and standards to tackle common challenges within the financial services industry. This nonprofit organization believes that open source adoption is crucial for the growth of the financial sector, serving as a powerful tool for collaboration among industry players. In 2020, Fintech Open Source Foundation experienced significant success, with a record-breaking number of monthly commits and substantial contributions from large investment banks, indicating a growing acceptance of open source and open standards in the financial services industry. Moreover, Fintech Open Source Foundation launched Special Interest Groups (SIGs) to promote further collaboration, including a SIG focused on engaging regulators to ensure a comprehensive ecosystem participation in driving innovation within financial services.
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Impact
October, 2024
The Fintech Open Source Foundation (FINOS) has significantly influenced the financial services industry by promoting the adoption of open-source software and standards. In 2020, the foundation experienced remarkable growth, evidenced by a 40% increase in monthly commits, indicating a burgeoning community of contributors. This rise in activity reflects a shift within large investment banks towards embracing open-source collaboration, highlighting an increasing recognition of these tools as vital for innovation.
The establishment of Special Interest Groups (SIGs), including one focused on engaging regulators, further emphasizes FINOS's commitment to fostering a comprehensive ecosystem for innovation in financial services. By bringing together various stakeholders, including regulators, FINOS aims to address common industry challenges and drive forward technological advancements.
Through its efforts, FINOS has positioned itself as a cornerstone in the fintech landscape, advocating for the importance of collective input and open standards to enhance collaboration and efficiency across the sector. This open-source initiative not only facilitates innovation but also enhances the overall growth trajectory of the financial services industry, ultimately benefiting a wider community.
This information is meant to be a general summary of Fintech Open Source Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2020.
- Gross Receipts: $1,325,890
Assets and Liabilities:
- Total Assets: $0
- Total Liabilities: $0
- Net Assets: $0
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Organization Details
Founding Year
2014
Phone
(650) 665-9773Principal Officer
Edwin Oh
Main Address
548 MARKET ST PMB 57274, SAN FRANCISCO, CA, 941045401
Website
www.finos.orgNTEE Category
Code: S40 - Community improvement
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