Totals
- Total revenue
- $11,482,211
- Total expenses
- $6,662,730
- Contributions and grants received
- $10,178,212
- Grants paid
- $0
- Program service revenue
- $250,000
- Investment income
- $109
- Other revenue
- $1,053,890
- Total assets, end of year
- $108,161,828
- Total liabilities, end of year
- $30,223,032
- Net assets or fund balances, end of year
- $77,938,796
- Program services expenses (Part IX)
- $5,684,925
- Management and general expenses
- $913,722
- Fundraising expenses
- $64,083
- Program service expenses (Part III)
- $5,684,925
Program services were 85.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$10,178,212
-
2a · Program service revenue: PROGRAM SERVICES
total $250,000 · related or exempt $250,000
-
3 · Investment income
total $109 · excluded $109
-
11a · Other revenue: MANAGEMENT FEE INCOME
total $1,053,890 · related or exempt $1,053,890
-
11e · Other revenue, total
$1,053,890
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $244,744 · program services $143,734 · management and general $90,057 · fundraising $10,953
-
7 · Other salaries and wages
total $968,153 · program services $592,980 · management and general $338,655 · fundraising $36,518
-
9 · Other employee benefits
total $68,913 · program services $32,621 · management and general $33,785 · fundraising $2,507
-
10 · Payroll taxes
total $83,675 · program services $51,321 · management and general $29,199 · fundraising $3,155
-
11b · Fees: legal
total $26,581 · program services $16,363 · management and general $10,218
-
11c · Fees: accounting
total $146,170 · program services $104,083 · management and general $40,418 · fundraising $1,669
-
11f · Fees: investment management
total $938,556 · program services $938,556
-
11g · Fees: other
total $633,025 · program services $431,458 · management and general $197,536 · fundraising $4,031
-
12 · Advertising and promotion
total $71 · management and general $71
-
13 · Office expenses
total $29,376 · program services -$16,450 · management and general $45,776 · fundraising $50
-
16 · Occupancy
total $86,385 · program services $51,895 · management and general $31,130 · fundraising $3,360
-
17 · Travel
total $135,102 · program services $53,587 · management and general $81,454 · fundraising $61
-
19 · Conferences, conventions and meetings
total $30,169 · program services $30,144 · fundraising $25
-
20 · Interest
total $3,236,421 · program services $3,236,421
-
23 · Insurance
total $19,806 · program services $18,076 · management and general $1,562 · fundraising $168
-
24a · Other expenses: DUES & SUBSCRIPTIONS
total $14,521 · management and general $13,022 · fundraising $1,499
-
24b · Other expenses: BANK FEES
total $1,062 · program services $136 · management and general $839 · fundraising $87
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $20,772,750 · end of year $31,194,948
-
3 · Pledges and grants receivable
beginning of year $2,332,135 · end of year $1,628,576
-
13 · Investments: program-related
beginning of year $49,220,613 · end of year $75,321,456
-
15 · Other assets
beginning of year $21,200 · end of year $16,848
-
17 · Accounts payable and accrued expenses
beginning of year $113,362 · end of year $523,019
-
25 · Other liabilities
beginning of year $21,846,699 · end of year $29,700,013
-
27 · Net assets without donor restrictions
beginning of year $34,075,195 · end of year $54,424,954
-
28 · Net assets with donor restrictions
beginning of year $16,311,442 · end of year $23,513,842
Mission and programs · 2022
Mission
IN ORDER TO STEER AND INFLUENCE CAPITAL TO SUPPORT SCALABLE SOLUTIONS TO CLIMATE CHANGE, EVERY PRIME PROGRAM IS DESIGNED TO CATALYZE, DEEPEN, OR ACCELERATE SOLUTIONS THAT WE BELIEVE WILL MASSIVELY REDUCE GREENHOUSE GAS EMISSIONS.
Activities or mission (Part I)
STEERS AND INFLUENCES CAPITAL TO SUPPORT SCALABLE SOLUTIONS TO CLIMATE CHANGE.
-
(A) AZOLLA VENTURES: A $200MM IMPACT-FIRST FUND THAT WAS SUBSTANTIATED AND CONSTRUCTED BY PRIME AND HELD IT FIRST CLOSE IN 2021; DESIGNED TO CATALYZE TRANSFORMATIVE CLIMATE VENTURES AT THE EARLY STAGE AND PARTNER THROUGH IMPACT AT SCALE. (B) EARLY CLIMATE INFRASTRUCTURE (ECI) PROGRAM: AIMS TO REMOVE SYSTEMIC BARRIERS FOR CLIMATE SOLUTIONS THAT ARE READY FOR INITIAL COMMERCIALIZATION ACTIVITY (I.E., HAVE PASSED THROUGH RIGOROUS PROOF-OF-CONCEPT PHASES), OR THAT ARE FULLY COMMERCIAL BUT NEED ADDITIONAL SUPPORT TO MOVE TO MASSIVE SCALE. (C) PROJECT FRAME: A COLLABORATION OF INVESTORS & EXPERTS WORKING TO BUILD FRAMEWORKS AND TOOLS TO ASSESS THE POTENTIAL IMPACT TODAY'S CLIMATE INVESTMENTS WILL HAVE ON GHG EMISSIONS IN THE FUTURE. IT AIMS TO DEMYSTIFY CLIMATE INVESTING & IMPROVE IMPACT MEASUREMENT & MANAGEMENT.
Expenses $5,684,925 · Revenue $1,303,890
As filed on the 2022 return.
Listed in Part VII
-
Sarah KearneySARAH KEARNEY
EXECUTIVE DIRECTOR
- Total calculated
- $244,744
- From this org
- $211,296
- From related orgs
- $0
- Other
- $33,448
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $201,529
- Bonus
- $0
- Other
- $9,767
- Deferred
- $0
- Nontaxable benefits
- $33,448
- Filer's total
- $244,744
-
Lubna EliaLUBNA ELIA
DIRECTOR (AS OF MARCH 2022)
- Total calculated
- $0
- Hours/week
- 0.5
-
Jeff McCarthyJEFF MCCARTHY
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Alicia SeigerALICIA SEIGER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Nicole SystromNICOLE SYSTROM
DIRECTOR
- Total calculated
- $0
- Hours/week
- 0.5
-
Johanna WolfsonJOHANNA WOLFSON
DIRECTOR (THRU JULY 2022)
- Total calculated
- $0
- Hours/week
- 0.5
-
Geoff ChapinGEOFF CHAPIN
CHAIR/TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Fiona MurrayFIONA MURRAY
SECRETARY
- Total calculated
- $0
- Hours/week
- 0.5
-
Julie Remmelts - Dir OfJULIE REMMELTS - DIR OF
FINANCE AND OP. (AS OF NOV 2022)
- Total calculated
- $34,728
- From this org
- $27,719
- From related orgs
- $0
- Other
- $7,009
- Hours/week
- 45
-
Margaret H CuttsMARGARET H CUTTS
DIRECTOR OF PARTNERSHIPS
- Total calculated
- $200,404
- From this org
- $188,185
- From related orgs
- $0
- Other
- $12,219
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $178,418
- Bonus
- $0
- Other
- $9,767
- Deferred
- $0
- Nontaxable benefits
- $12,219
- Filer's total
- $200,404
-
Ananth Pharshy - Sr AdvisorANANTH PHARSHY - SR ADVISOR
FOAK CLIMATE INFRA. (THRU SEPT 2022)
- Total calculated
- $175,000
- From this org
- $175,000
- From related orgs
- $0
- Other
- $0
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $175,000
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $175,000
-
Anjali S DeshmukhANJALI S DESHMUKH
SR. ADVISOR, IMPACT ACCOUNTABILITY
- Total calculated
- $144,012
- From this org
- $118,807
- From related orgs
- $0
- Other
- $25,205
- Hours/week
- 30
-
Keri BrowderKERI BROWDER
DIR. OF IMPACT ACCOUNTABILITY
- Total calculated
- $143,371
- From this org
- $127,958
- From related orgs
- $0
- Other
- $15,413
- Hours/week
- 45
-
Anna GoldsteinANNA GOLDSTEIN
DIRECTOR OF IMPACT
- Total calculated
- $135,963
- From this org
- $135,913
- From related orgs
- $0
- Other
- $50
- Hours/week
- 45
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 3 · Form 990 of other organizations
- 3 · Approval by the board or compensation committee
- 7 · Other non-fixed payments
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 7
- PRIME COALITION'S BONUS POLICY IS STRUCTURED WITH A FOCUS ON EQUITY AND INCLUSION. PRIME'S BONUS POOL IS DRAWN FROM PAYMENTS FOR SERVICES ITS STAFF PROVIDES TO AFFILIATED INVESTMENT VEHICLES AND OPERATES AS A PROFIT SHARING COOPERATIVE. ALL PRIME FULL-TIME EMPLOYEES ARE ELIGIBLE UNDER THE FOLLOWING PROTOCOL: (1) EXECUTIVE DIRECTOR INFORMS THE TEAM ABOUT THE SIZE OF THE TOTAL BONUS POOL FOR THE FOLLOWING YEAR IMMEDIATELY AFTER PRIME'S BOARD APPROVES ITS FISCAL YEAR BUDGET AT ITS Q4 BOARD MEETING; (2) FULL-TIME EMPLOYEES PARTICIPATE IN AN ANNUAL TWO-HOUR GOAL SETTING FOR THE FORTHCOMING YEAR; (3) ALL FULL-TIME EMPLOYEES AND LONG-TERM CONTRACTORS RECEIVE A $5,000 BASELINE BONUS PRO-RATED BASED ON PERCENTAGE OF TIME COMMITTED AGAINST A 40 HOUR PER WEEK FULL-TIME EMPLOYEE BASELINE. OF THE REMAINING AMOUNT IN THE SHARED POOL: (A) 20% IS DONATED TO A SHARED CAUSE AND/OR INTERNAL PROGRAM CONCEPT; (B) 80% IS SPLIT EQUALLY AMONG ALL FULL-TIME EMPLOYEES AND LONG-TERM CONTRACTORS TO EMPHASIZE OUR COMMUNAL EFFORT. LONG-TERM CONTRACTORS PARTICIPATION WAS DETERMINED BY PERCENTAGE OF TIME COMMITTED AGAINST A 40 HOUR PER WEEK FULL-TIME EMPLOYEE BASELINE.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
PRIME MANAGEMENT COMPANY I LLC
CHARITABLE - MANAGEMENT ACTIVITY · MA · income $1,053,975 · assets $618,162
Directly controlled by PRIME COALTION INC
-
PRIME IMPACT LOAN FUND I LLC
CHARITABLE - PROGRAM RELATED INVESTMENT ACTIVITY · MA · income $0 · assets $72,949,823
Directly controlled by PRIME COALTION INC
Related partnerships
Part III: related organizations taxable as a partnership, with the filer's share.
-
PRIME IMPACT EQUITY FUND I LLC
RELATED · INVESTMENT · MA · 62.45% owned · share of income $288,300 · share of assets $26,830,892 · general or managing partner
Directly controlled by PRIME IMPACT LOAN FUND I LLC
-
AZOLLA VENTURES CATALYTIC FUND I LP
RELATED · INVESTMENT · MA · 43.8% owned · share of income $13,729 · share of assets $2,503,803 · general or managing partner
Directly controlled by AZOLLA VENTURES GP LP
-
AZOLLA VENTURES GP LP
RELATED · INVESTMENT · MA · 50.42% owned · share of income $196 · share of assets $8,408
Directly controlled by PRIME COALITION INC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 14 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202313189349314501
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