Overview
What is Unitary Fund?
Unitary Fund is a nonprofit organization based in San Francisco, California. Their primary focus is on fostering a quantum technology ecosystem that benefits the most people. They achieve this by expanding the pool of individuals working on quantum technologies, ensuring its equitable distribution. The organization operates through two main programs: Unitary Labs, where they undertake in-house projects to support the ecosystem, and a Microgrant Program. This program funds an inclusive global community, encouraging exploration in quantum technologies. The Unitary Fund awards microgrants annually to around 20 teams or individuals, with the grant applications being reviewed by an advisory board of volunteers. The organization currently employs seven individuals.
Official website here: www.unitary.fund
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star Rating)
The Unitary Fund has received a Three-Star rating from Charity Navigator, reflecting a solid performance in accountability and finance. This score indicates a commitment to transparency and effective management of resources, with an overall Accountability & Finance Score of 81%. The charity's emphasis on independent governance is highlighted by its board, which is made up entirely of independent members, showcasing a strong commitment to ethical oversight.
Strengths of the Unitary Fund include a high program expense ratio of 90.63%, indicating that a significant portion of its expenses go directly toward its programs rather than administrative costs. The organization has also maintained strong policies for conflict of interest, whistleblower protections, and document retention, which further enhance its credibility and operational integrity.
While the rating reflects positive attributes, the score is solely based on Accountability & Finance metrics, with no evaluation of program effectiveness or impact noted. This limitation suggests that while the organization appears to manage its funds well, further insights into its overall impact and outcomes would be beneficial for potential donors.
This AI summary has been generated from information found on Charity Navigator.
Is Unitary Fund legitimate?
Unitary Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. Unitary Fund 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: $328,580
Professional Fundraising Fees: $0
Other Salaries and Wages: $457,519
For more financial information, click here
Official website here: www.unitary.fund
What is the mission statement of Unitary Fund?
The Unitary Fund's mission statement revolves around creating a quantum technology ecosystem that benefits the largest number of people. They believe in expanding the pool of individuals working on quantum technologies to ensure swift and equitable distribution of its benefits. To achieve this, they primarily utilize two major programs: Unitary Labs, where they engage in in-house projects to support the ecosystem as a whole, and a microgrant program that funds an inclusive global community of quantum technology explorers.
Official website here: www.unitary.fund
What is the revenue of Unitary Fund?
Unitary Fund's revenue in 2023 was $1,496,005.
Official website here: www.unitary.fund
Who are the executives of Unitary Fund and what are their salaries?
The average compensation at Unitary Fund during 2023 was $112,300. There are 7 employees and 64 volunteers at Unitary Fund.
Here are 6 key members and their salaries:
- Compensation: $161,423
- Related: $0
- Other: $0
- Compensation: $167,157
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.unitary.fund
Where can I find the form 990 for Unitary Fund?
Unitary Fund's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.unitary.fund
Learn more at the official website: www.unitary.fund
Mission Statement of Unitary Fund
Unitary Fund, a nonprofit organization, is dedicated to establishing a quantum technology ecosystem that benefits the largest number of people. They believe that expanding the pool of individuals working on quantum technologies is crucial to ensuring that the advantages of these tools are swiftly and equitably distributed. To achieve this mission, Unitary Fund primarily utilizes two major programs. Through Unitary Labs, they engage in in-house projects that contribute to the ecosystem as a whole. Additionally, their Microgrant Program funds an inclusive global community of explorers to work on quantum technologies. This approach allows Unitary Fund to contribute to the growth and development of quantum technology, ensuring that its benefits are accessible to a wide range of people.
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Impact
July, 2024
Unitary Fund's impact is significant in creating a quantum technology ecosystem that benefits the most people. By awarding microgrants to individuals and organizations, approximately 20 teams/individuals per year are empowered to work on advancing quantum technologies. The grant applications are rigorously reviewed by an outside advisory board consisting of 15 volunteers, ensuring a fair and transparent selection process.
Unitary Fund, based in San Francisco, CA, is dedicated to expanding the pool of people working on quantum technologies. They believe that this approach is key to ensuring that the benefits of these tools are widely, swiftly, and equitably distributed. Through programs like Unitary Labs and the microgrant program, they support an inclusive community of explorers worldwide who are pushing the boundaries of quantum research and innovation.
In summary, Unitary Fund's impact is characterized by fostering collaboration, innovation, and diversity within the quantum technology field, ultimately driving progress that benefits society as a whole.
This information is meant to be a general summary of Unitary Fund. 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 2023.
- Investment Income: $812
- Gross Receipts: $1,496,005
Assets and Liabilities:
- Total Assets: $536,413
- Total Liabilities: $189,486
- Net Assets: $346,927
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Organization Details
Founding Year
2018
Principal Officer
William Zeng
Website
www.unitary.fundNTEE Category
Code: U12 - Science research
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