Alliance for Innovative Regulation Institute
Public records show a registered, tax-exempt organization in good standing.
What it says it does
AIR IS A NON-PARTISAN 501(C)(3) PROMOTING THE USE OF "RESPONSIBLE INNOVATION" TO HELP SOLVE SYSTEMIC FINANCIAL SECTOR CHALLENGES. AIR ENVISIONS A FINANCIAL SYSTEM THAT IS FULLY FAIR, INNOVATIVE AND HIGHLY RESILIENT.
- Income
- $4.7 million
- Spending
- $5.5 million
- Spent on programs
- 65%
- Reserves
- 0.4 months of spending
- Largest source of income
- donations and private grants, 67%
- Employees
- 14
- Volunteers
- 5
- Highest pay
- $290,367, chief program officer
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Weak: 39 out of 100. Higher than 14% of charities in its peer group (education, $1m to $10m).
Reserves
4 of 35Spendable reserves would cover 0.4 months of spending.
Debt
5 of 20It owes 74% of what it owns.
Living within its means
0 of 15Spending exceeded income by 17% of income.
Income trend
15 of 15Income rose 1% on the year before.
Spending floor
15 of 1565% of spending went to programs and raising each dollar of donations cost 8 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 74% of charities in its peer group (education, $1m to $10m).
Independent board
25 of 255 of 6 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (4)
- $1.1 million spent. GATES FOUNDATION - LEVERAGING A FOUR (4) YEAR GRANT FROM THE BILL AND MELINDA GATES FOUNDATION, AIR PARTNERS WITH VARIOUS ENTITIES AND KEY STAKEHOLDERS TO ENSURE THAT CONSUMERS OF DIGITAL FINANCIAL SERVICES (DFS) IN LOW-AND MIDDLE-INCOME COUNTRIES (LMICS), PARTICULARLY VULNERABLE CONSUMERS, BENEFIT FROM TECHNOLOGY TOOLS AND POLICY GUIDANCE THAT HELPS IDENTIFY AND MITIGATE RISKS OF DFS. IN 2024, WE EXECUTED TWO KEY INITIATIVES, THE DIGITAL PAYMENT WEST AFRICA TECHSPRINT AND THE GENERATIVEAI PROGRAM. THE VIRTUAL DIGITAL PAYMENT TECHSPRINT FOCUSED ON DETECTING AND COMBATING PAYMENT FRAUD IN WEST AFRICA. THIS EVENT BROUGHT TOGETHER A RANGE OF STAKEHOLDERS, INCLUDING TECHNOLOGY COMPANIES, CONSUMER PROTECTION AGENCIES, PAYMENT SERVICE PROVIDERS, INNOVATORS, REGULATORS, AND SUBJECT MATTER EXPERTS TO COLLABORATIVELY CREATE SOLUTIONS.THE GENERATIVE AI PROGRAM STARTED WITH CONVENING THE TECH COMMUNITY AND REGULATORS TO DEBATE AND EXPLORE THE POSSIBILITIES AND RISKS OF GENERATIVEAI. IN ADDITION TO THESE SPECIFIC EVENTS, OUR LEADERSHIP TEAM CONTINUES TO BE VISIBLE ON THE GLOBAL STAGE ON KEY CONSUMER PROTECTION ISSUES AND THE USE OF EMERGING TECHNOLOGY, BUILDING OUR REPUTATION AS THOUGHT LEADERS. WE'VE LEVERAGED THE BAREFOOT INNOVATION PODCAST TO SHARE KNOWLEDGE, CREATE INTEREST AND START DEBATE ON KEY TOPICS.
- $946,494 spent. FEDERAL HOUSING FINANCE AGENCY (FHFA) - WE RECEIVED A CONTRACT FROM PARTNERED WITH THE FHFA'S OFFICE OF FINANCIAL TECHNOLOGY ("OFT") TO PLAN, AND EXECUTE, AND HOST A TECHSPRINT FOCUSED ON HOW THE RESPONSIBLE USE OF GENERATIVE ARTIFICIAL INTELLIGENCE ("GENAI") CAN PROMOTE A BETTER TRANSPARENT, FAIR, AND INCLUSIVE HOUSING FINANCE SYSTEM, WHILE FOSTERING SUSTAINABLE HOMEOWNERSHIP AND RENTAL OPPORTUNITIES. BANK FINTECH ARRANGEMENTS - WE PARTNERED WITH THE AMERICAN FINTECH COUNCIL TO DELIVER A MINIATURE TECHSPRINT FOCUSED ON BANK/FINTECH ARRANGEMENTS AND WHAT IS AT STAKE IF THEY DON'T ADDRESS REGULATOR CONCERNS. SPECIFICALLY, THE SPRINT ADDRESSED HOW REGULATORS MIGHT GAIN MORE VISIBILITY INTO AND THEREBY KNOWLEDGE OF FINTECH'S TECHNOLOGIES, BUSINESS ACTIVITIES, BANKING RELATIONSHIPS, AND RISK PROFILE SO THAT ALL PARTIES CAN BE INFORMED ABOUT POTENTIAL RISKS TO THE BANKING SYSTEM AND FINANCIAL CONSUMERS. OVER ONE AND A HALF DAYS TEAMS FORMED TO IDENTIFY SOLUTIONS TO ADDRESS THE CHALLENGES WITH BANK/FINTECH ARRANGEMENTS. AS A FOLLOW-UP TO THE MINI TECHSPRINT WITH THE AFC, THE AIR TEAM HELD A LONGER TECHSPRINT AND DEMONSTRATION DAY IN FEBRUARY 2025. THE TECHSPRINT FOCUSED ON EXPLORING KEY CHALLENGES FACING THE INDUSTRY IN THE EVER-CHANGING TECHNOLOGY AND REGULATORY LANDSCAPE. THE TECHSPRINT EXPLORED REGULATORY ISSUES RELATING TO THE EVOLVING BUSINESS MODELS BETWEEN BANKS AND FINTECH FIRMS, WITH A FOCUS ON THE IMPACT TO COMMUNITY BANKS. DIGITAL IDENTITY - AIR LAUNCHED AN INITIATIVE FOCUSED ON EXPLORING THE POTENTIAL THAT ROBUST DIGITAL IDENTITY SYSTEMS CAN ADVANCE CRITICAL GOALS IN FINANCIAL SERVICES, PARTICULARLY IN EXPANDING FINANCIAL INCLUSION, PROTECTING PRIVACY, AND COMBATING MONEY LAUNDERING AND OTHER FINANCIAL CRIMES. AIR, IN PARTNERSHIP WITH THE ASPEN INSTITUTE FINANCIAL SECURITY PROGRAM, LED A SERIES OF ONLINE AND IN-PERSON ROUNDTABLES FOCUSED ON ADDRESSING THE BARRIERS TO WIDESPREAD DIGITAL ID ADOPTION. ADDITIONALLY, THIS PROJECT SOUGHT TO UNDERSTAND THE BREADTH AND DEPTH OF WORK UNDERWAY ON DIGITAL IDENTITY AND THUS PROVIDED VALUABLE INSIGHTS INTO THE GLOBAL EFFORTS AND DIVERSE APPROACHES BEING EMPLOYED IN THIS EVOLVING FIELD. THROUGH ENGAGING WITH SMES AND CONDUCTING RESEARCH, WE ENGAGED WITH AN INTERNATIONAL COMMUNITY DEDICATED TO ADDRESSING MULTIPLE USE CASES FOR DIGITAL IDENTITY. GLOBAL FRAUD PROGRAM - IN Q4 2024 WE LAUNCHED THE GLOBAL FRAUD PROGRAM UNDER OUR FINANCIAL CRIME STRATEGIC INITIATIVE. THE PROGRAM HAS 4 KEY PILLARS - NETWORK DEFENSE, CONSUMER DEFENSE, AML/BSA AND INCUBATOR/ACCELERATOR. IN Q2 2025, WE WILL LAUNCH OUR FIRST SET OF ACTIVITIES. THE PROJECT WILL INCLUDE A SIMULATION EVENT CALLED 'BATTLEFRONT: FRAUD IN THE AGE OF AI'. BATTLEFRONT WILL BE A TWO-DAY EVENT DESIGNED TO BRING TOGETHER DIVERSE STAKEHOLDERS TO EXPLORE AND TACKLE FRAUD AND FINANCIAL SCAMS IN A PRACTICAL AND COLLABORATIVE WAY. THE EVENT WILL PROVIDE A SPACE TO EXPLORE AND TEST INNOVATIVE TECHNOLOGIES AND STRATEGIES FOR FRAUD DETECTION AND PREVENTION, FOCUSING ON REAL-WORLD CHALLENGES AND EMERGING THREATS. THE MARKETING INITIATIVES FOR THE BATTLEFRONT EVENT WILL FOCUS ON RAISING AWARENESS, DRIVING PARTICIPATION, ENHANCING ENGAGEMENT AND POSITIONING AIR AS A THOUGHT LEADER. KEY MARKETING STRATEGIES WILL INCLUDE BUT NOT LIMITED TO AI GENERATED VIDEO CONTENT, SOCIAL MEDIA AND DIGITAL ENGAGEMENT, TARGETED EMAIL OUTREACH, THOUGHT LEADERSHIP & EVENT POSITION, AND MEDIATE AND PARTNER COLLABORATION LEVERAGE INDUSTRY NETWORKS FOR PROMOTION.PUBLIC POLICY EDUCATION- AIR CONTINUES TO RAISE AWARENESS RELATED TO TECHNOLOGY DEVELOPMENTS IMPACTING CONSUMER FINANCE, SUCH AS THE AVAILABILITY OF VASTLY EXPANDED DIGITAL DATA AND THE EMERGENCE OF INCREASINGLY POWERFUL ARTIFICIAL INTELLIGENCE TOOLS LIKE MACHINE LEARNING AND GENERATIVE AI. THE GOAL OF THE ONGOING INITIATIVE IS TO EDUCATE AND ENGAGE U.S. POLICYMAKERS REGARDING THE NEED FOR REGULATOR MODERNIZATION AND TO POSITION AIR AS A TRUSTED BIPARTISAN SOURCE OF EXPERTISE AND INSIGHT ON MATTERS RELATED TO FINANCIAL AND FINANCIAL REGULATORY TECHNOLOGY. IN 2024, WE HELD AN EXPO ON CAPITOL HILL WHICH FEATURED DEMOS FROM REGTECH FIRMS, HELPING CONGRESSIONAL STAFF, REGULATORS AND THE PUBLIC TO SEE FIRSTHAND HOW NEW TECHNOLOGY CAN ADVANCE THE EFFECTIVENESS OF FINANCIAL LAWS AND REGULATIONS IN AREAS LIKE CURTAILING MONEY LAUNDERING, PREVENT LENDING BIAS, AND LENDING TO SMALL BUSINESSES. SEVERAL DEMOS FEATURED GENERATIVE AI.WHITE PAPERS - WITH FUNDING FROM SEVERAL ORGANIZATIONS, WE FINALIZED AND RELEASED A SERIES OF WHITE PAPERS IN 2024. - BEYOND PILOTS AND SANDBOXES: REGULATORY INNOVATION THROUGH SUPTECH CASE STUDIES AND LEADING PRACTICES - IN PARTNERSHIP WITH AWS, WE RELEASED A WHITE PAPER EXPLORING HOW REGULATORS CAN HARNESS SUPERVISORY TECHNOLOGY ("SUPTECH") TO COMBINE INNOVATION WITH RESILIENCE, COMBINE EFFICIENCY WITH INTEGRITY, AND COMBINE MODERNIZATION WITH PUBLIC TRUST. DRAWING ON CASE STUDIES AND PROOF-OF-CONCEPT PROJECTS, THE PAPER OFFERS PRACTICAL GUIDANCE TO BUILD CAPABILITIES THAT ADDRESS TODAY'S REGULATORY CHALLENGES. BY FOSTERING A CULTURE OF EXPERIMENTATION, COLLABORATION, AND DATA-DRIVEN DECISION-MAKING, REGULATORS CAN SEIZE THE OPPORTUNITIES OF DIGITAL TRANSFORMATION WHILE MITIGATING ITS RISKS. - EARLY WAGE ACCESS - IN PARTNERSHIP WITH GATTICA HORIZONS, WE PRODUCED A WHITE PAPER FOCUSED ON EWA AS A POPULAR TOOL FOR CONSUMERS FACING SHORT-TERM FINANCIAL CHALLENGES, OFFERING NON-RECOURSE EARLY ACCESS TO WAGES THAT HAVE ALREADY BEEN EARNED BUT NOT YET PAID. IN 2025 WE WILL HOST A WEBINAR. - MODEL RISK MANAGEMENT FOR FINANCIAL INSTITUTIONS IN THE GENERATIVE AI ERA - IN PARTNERSHIP WITH GOOGLE CLOUD, WE RELEASED A WHITE PAPER, BUILDING ON OUR EARLIER JOINT PUBLICATION, 'APPLYING MODEL RISK MANAGEMENT GUIDANCE TO ARTIFICIAL INTELLIGENCE/MACHINE LEARNING BASED RISK MODELS.' THE 2024 WHITE PAPER EXPANDS ON THAT FOUNDATION BY EXPLORING HOW MODEL RISK MANAGEMENT FRAMEWORKS AND ESTABLISHED GOVERNANCE PRACTICES CAN BE APPLIED TO MANAGE RISKS IN GENERATIVE AI CONTEXTS. SPECI
- $944,428 spent. DEPARTMENT OF STATE ANTI-CORRUPTION INNOVATION LAB (ASET) - AIR WAS SELECTED BY THE STATE DEPARTMENT'S BUREAU OF INTERNATIONAL NARCOTICS AND LAW ENFORCEMENT AFFAIRS (INL) TO IDENTIFY NEW TECHNOLOGIES THAT CAN THWART ILLEGAL TRANSACTIONS TIED TO GLOBAL CORRUPTION. THE ANTI-CORRUPTION SOLUTIONS THROUGH EMERGING TECHNOLOGIES (ASET) PROGRAM INCLUDED TECHSPRINTS AND OTHER INITIATIVES TO DEVELOP POTENTIAL DIGITAL TOOLS. AFTER COMPLETING A TECHSPRINT IN 2022, WE MOVED TO SCOPING, DESIGNING AND EXECUTING A TECHSPRINT IN 2024 FOCUSED ON ANTI-CORRUPTION IN PROJECT FINANCING WITH PARTICULAR INTEREST IN LATIN AMERICAN AND CARIBBEAN MARKETS. OUR KEY FRAME OF REFERENCE WAS TO FOCUS ON TECHNOLOGY THAT CAN BE USED TO DETECT AND PREVENT CORRUPTION IN DEVELOPMENT PROJECTS.
- $624,226 spent. MINORITY DEPOSITORY INSTITUTION DIGITAL TRANSFORMATION PROJECT - WITH FUNDING FROM VISA AND CITI, AIR CONTINUES TO PARTNER WITH THE NATIONAL BANKERS ASSOCIATION (NBA), THE NATIONAL BANKERS ASSOCIATION FOUNDATION (NBAF), AND VISA TO HELP FEDERALLY-DESIGNATED MINORITY DEPOSITORY INSTITUTIONS (MDIS) STRENGTHEN THEIR DIGITAL CAPABILITIES VIA THE MDI CONNECTTECH AND MDI ACCELERATE PROGRAMS. IN 2024 AIR PARTNERED WITH AN EXTERNAL CONSULTING FIRM TO FINALIZE THE TECHNOLOGY ASSESSMENTS FOR THE 15 BANKS IN THE INITIAL COHORT. WE PARTNERED WITH THE NBAF TO DESIGN A DISBURSEMENT RUBRIC AND CREATE A PLAYBOOK OUTLINE. ADDITIONALLY, WE HELD AN IN-PERSON CONVENING, MDI INNOVATE, WHERE WE FOCUSED ON BOTH THE ISSUES AND SOLUTIONS FACING MDIS.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated October 13, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated October 13, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since August 2019.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated October 13, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 21, 2026.
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