So, CSI invested $3.5M to $4M in CIN, a for-profit whose whole business plan revolves around extorting design and construction professionals to buy a license to use CSI’s copyrighted product, except that there is no longer a copyright CIN can use as a cudgel? Wonder what that investment is worth this evening? 
This scheme was purportedly concocted by Mark Dorsey (CEO of CSI), Rick Bawcum (former CIO of CSI as a consultant, and some of their cronies shortly after Dorsey entrenched himself as CEO. [Ref: https://www.getmespark.com/wp-content/uploads/NoBSGuide-DigitalTransformation.pdf Page 25]
Over the succeeding decade, Dorsey was able to persuade the CSI Board of Directors to set up and provide funding for CIN, to sell licenses and continue development on “Crosswalk,” Dorsey’s and Bawcum’s original software product. On July 1, 2025, a day after the CSI’s Fiscal Year 2025 books closed, a series of transactions took place between and among CSI, CIN, and 18 Below LLC. As a result, CSI’s interest in CIN was converted from a controlling financial interest to a non-controlling investment. CSI retained 46.55% of CIN, while 18 Below became the controlling member and parent of CIN, holding 48.45% of its equity interests. CIN Board of Managers comprises 18 Below principals Chris Anderson and Paul Addy, and CSl’s CEO Mark Dorsey. [Ref: CSI’s audit reports available to CSI members CSI Audited Financials - Construction Specifications Institute ]
Prior to Fiscal Year 2026, CIN’s financial numbers were consolidated with CSI’s for tax purposes, so it is impossible to get an exact accounting of how much CSI’s 46.55% shares are worth. We won’t know until the 2026 audit report is released, which may not happen until the fall of 2027. But here’s what we do know: as of June 30, 2025, CSI had $5.5M in total investments, representing 3/4 of the organizations $7.4M in total assets. [Ref: CSI FY2025 Financial Statements, see link above]
My assessment that CSI has $3.5M to $4M invested in CIN is based on a preliminary review of publicly available information and public statements made by members of CSI’s governance and management teams. Assuming this is accurate, CSI has 2/3 to 3/4 of its total investments in a company that just suffered a serious roadblock to its business model. How can CIN persuade potential customers to purchase licenses to use a taxonomy that a court has just ruled cannot be copyrighted? Before they invested half of the organizations total assets in a startup company selling an unproven product, did our board and management consider the worst case possibility that their investment could be totally lost? If so, what’s the fallback position?
Members of CSI who care about the future of this organization should be worried. Members of the CSI board over the last decade who put the organization in this precarious position should be VERY worried.