I’m responding to several different comments and points in this post. Up top, for convenience, here’s a link to the Zcash Foundation’s 990 for 2017: https://www.zfnd.org/about/incorporation-docs/Zcash%20Foundation%202017%20Form%20990.pdf
@boxalex, you’re not interpreting that form correctly. It doesn’t list all employees.
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
I wasn’t able to find a definitive source for the National Park Foundation’s number of employees, but there are 100+ listed on LinkedIn: https://www.linkedin.com/company/national-park-foundation/people/
Their audit has much a bunch of detailed financial information: https://projects.propublica.org/nonprofits/display_audit/20316020171
As it happens, the Zcash Foundation is working on an audit of 2017 (Antonie Hodge, the Operations Director, is handling it). It’s a complex process made more complex by needing to explain cryptocurrency and the like to auditors. We’ll start the 2018 audit in July. We’re not obligated to publish audits — the 990 fulfills our legal transparency requirements, to my knowledge — but we’re likely to do so in some capacity. [Edit for clarity: Not a promise.] @SPinSin
I would add, as a personal opinion, that it’s not fair to compare a charity formed in 2017 to one that was founded in the 1960s The National Park Foundation is 50 years older.
@kek, in response to:
the foundation has watched the product you represent fall in value by +90% with no end in sight.
If you look at the “Historical ROI” snapshots from Messari, the one-year metrics are:
It’s a secular trend. (I also agree with Josh’s comments re: investor sentiment.)
I added a note about zec-qt-wallet to our homepage so it’s easier for people to find.
Regarding transparency in general, with respect to the Zcash Foundation:
Transparency is good, but sometimes it has downsides that need to be weighed against other priorities (like getting things done).
@boxalex, you made a good point about wanting to see where the money is and where it goes. Some of that detail will be present in Josh’s upcoming post, and our legal reports when those are ready to be released. I like the suggestion of a finances page on the website that consolidates the information that’s spread across various sources (blog posts, forum posts, etc.) and holds our official legal records as well. That’s something I can put on my to-do list for the next few months.
I don’t personally care about disclosing my salary — I make $80k base + benefits — but I’m not the only type of person we’re trying to hire and integrate into the Foundation. People who are interested in privacy advocacy tend to care about their own privacy, so naturally they want to decide what information they disclose to the public at large. We are constrained by regulations and need to declare some employees’ salaries, but doing so across the board would be detrimental to our hiring efforts. Basically, what Shawn said.
Josh spent several months laying the groundwork for partnerships like the one with Parity. It takes a long time to coordinate these things and finalize legal agreements. We can’t disclose tentative projects while they’re being negotiated. Also, expecting a nonprofit to move as fast as a startup will lead to disappointment in nearly all cases
All of that said, I’m glad that you fine people care about what we’re doing and want us to do a good job! Community oversight and critique are useful. It pushes the Zcash Foundation to improve as an organization.