Skip to content
Nonprofiteer
← BLUE FOREST FINANCE INC

Form 990 for tax year 2024

Filed by BLUE FOREST FINANCE INC.

Totals

Total revenue
$8,932,160
Total expenses
$8,990,905
Contributions and grants received
$6,138,844
Grants paid
$1,300,000
Program service revenue
$2,359,521
Investment income
$433,396
Other revenue
$399
Total assets, end of year
$35,190,546
Total liabilities, end of year
$29,861,439
Net assets or fund balances, end of year
$5,329,107
Program services expenses (Part IX)
$6,979,641
Management and general expenses
$1,773,257
Fundraising expenses
$238,007
Program service expenses (Part III)
$6,979,641

Program services were 77.6% 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.

  • 1e · Government grants (contributions)

    $2,564,869

  • 1f · All other contributions, gifts and grants

    $3,573,975

  • 2a · Program service revenue: FEE INCOME

    total $1,663,029 · related or exempt $1,663,029

  • 2b · Program service revenue: PROJECT INCOME

    total $696,492 · related or exempt $696,492

  • 3 · Investment income

    total $2,503 · excluded $2,503

  • 7a · Gross sales of assets other than inventory

    securities $11,028,938

  • 7b · Less cost or other basis and sales expenses

    securities $10,598,045

  • 7c · Gain or loss

    securities $430,893

  • 7d · Net gain or loss

    total $430,893 · excluded $430,893

  • 11d · All other revenue

    total $399 · related or exempt $399

  • 11e · Other revenue, total

    $399

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,300,000 · program services $1,300,000

  • 5 · Compensation of officers, directors and key employees

    total $869,677 · program services $593,827 · management and general $237,794 · fundraising $38,056

  • 7 · Other salaries and wages

    total $2,568,111 · program services $1,751,511 · management and general $704,352 · fundraising $112,248

  • 8 · Pension plan contributions

    total $127,160 · program services $87,387 · management and general $34,173 · fundraising $5,600

  • 9 · Other employee benefits

    total $1,145,864 · program services $787,462 · management and general $307,937 · fundraising $50,465

  • 10 · Payroll taxes

    total $317,658 · program services $218,301 · management and general $85,367 · fundraising $13,990

  • 11b · Fees: legal

    total $203 · management and general $203

  • 11c · Fees: accounting

    total $263,355 · management and general $263,355

  • 11f · Fees: investment management

    total $36,234 · management and general $36,234

  • 11g · Fees: other

    total $378,434 · program services $357,801 · management and general $18,370 · fundraising $2,263

  • 13 · Office expenses

    total $15,407 · program services $9,475 · management and general $5,638 · fundraising $294

  • 14 · Information technology

    total $71,681 · program services $52,580 · management and general $16,437 · fundraising $2,664

  • 16 · Occupancy

    total $21,728 · program services $15,122 · management and general $5,719 · fundraising $887

  • 17 · Travel

    total $316,202 · program services $278,333 · management and general $29,933 · fundraising $7,936

  • 20 · Interest

    total $354,736 · program services $354,736

  • 23 · Insurance

    total $10,052 · program services $6,908 · management and general $2,701 · fundraising $443

  • 24a · Other expenses: INVESTMENT LOSS ON PART

    total $1,116,281 · program services $1,116,281

  • 24b · Other expenses: OTHER PERSONNEL EXPENSE

    total $48,173 · program services $32,412 · management and general $13,722 · fundraising $2,039

  • 24c · Other expenses: LICENSES & TAXES

    total $29,949 · program services $17,505 · management and general $11,322 · fundraising $1,122

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $2,201,746 · end of year $2,452,099

  • 3 · Pledges and grants receivable

    beginning of year $1,300,716 · end of year $1,579,816

  • 4 · Accounts receivable

    beginning of year $332,340 · end of year $291,001

  • 7 · Other notes and loans receivable

    beginning of year $1,084,591 · end of year $5,764,783

  • 9 · Prepaid expenses and deferred charges

    beginning of year $50,128 · end of year $108,296

  • 12 · Investments: other securities

    beginning of year $16,604,673 · end of year $20,071,331

  • 13 · Investments: program-related

    beginning of year $35,467 · end of year $4,873,220

  • 15 · Other assets

    beginning of year $375 · end of year $50,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $216,817 · end of year $396,229

  • 18 · Grants payable

    beginning of year $960,000 · end of year $1,110,000

  • 19 · Deferred revenue

    beginning of year $152,567 · end of year $690,439

  • 24 · Unsecured notes and loans payable

    beginning of year $15,500,000 · end of year $27,664,771

  • 27 · Net assets without donor restrictions

    beginning of year $4,275,652 · end of year $3,917,885

  • 28 · Net assets with donor restrictions

    beginning of year $505,000 · end of year $1,411,222

Mission and programs · 2024

Mission

BLUE FOREST IS A NON-PROFIT CONSERVATION FINANCE ORGANIZATION. WE BRING PEOPLE, FINANCE AND SCIENCE TOGETHER TO RESTORE AND PROTECT OUR FORESTS, WATERSHEDS, ECOSYSTEMS AND COMMUNITIES.

  • PROJECT DEVELOPMENT - INVOLVES DEVELOPMENT, DESIGN, AND IMPLEMENTATION OF CONSERVATION FINANCE. THIS INCLUDES THE FOREST RESILIENCE BOND (FRB), AN INNOVATIVE FINANCING MECHANISM THAT ACCESSES PRIVATE CAPITAL TO FINANCE FOREST RESTORATION PROJECTS TO PROTECT COMMUNITIES, ECOSYSTEM BENEFITS, AND RURAL LIVELHOODS; AND BLUE FOREST ASSET MANAGEMENT (BFAM), WHICH PROVIDES FLEXIBLE FINANCING TO COMPANIES LEADING FOREST RESTORATION AND WILDFIRE MITIGATION WORK ACROSS CALIFORNIA. 2024 IMPACTS INCLUDED $17.8M DEPLOYED FOR ECOSYSTEM RESILIENCE, 141 JOBS SUPPORTED, 12 ACTIVE NATIONAL FOREST ENGAGEMENTS FOR FRB PROJECT DEVELOPMENT, 10,168 ACRES PROTECTED, AND 34,977 ACRE-FEET OF WATER SUPPLY PROTECTED.

    Expenses $6,494,036 · Grants $1,300,000 · Revenue $2,359,920

  • COMMUNICATIONS, OUTREACH, & EDUCATION - INVOLVES ACTIVITIES TO PRODUCE AND DISSEMINATE MATERIALS AND INFORMATION ABOUT OUR INNOVATIVE FINANCE MODELS AND THE MULTIPLE BENEFITS OF ECOSYSTEM CONSERVATION AND RESTORATION GENERALLY. OUR STAKEHOLDER AND PUBLIC OUTREACH AND EDUCATION EXPANDS KNOWLEDGE OF OUR PROJECTS WHILE PROMOTING THEM AS EMERGING AND EFFECTIVE MODELS THAT ARE APPLICABLE AND REPLICABLE TO MANY LANDSCAPES AND ECOSYSTEM SITUATIONS IN NEED OF LARGE-SCALE MANAGEMENT AND RESTORATION, WHILE ALSO ADVANCING THE FIELD OF CONSERVATION FINANCE BROADLY. 2024 IMPACTS INCLUDED FEATURES IN LEADING IMPACT INVESTING PUBLICATIONS, INCLUSION IN THE REVENUES FOR NATURE DATABASE, WINNER OF THE FOREST SERVICE REGIONAL PARTNERSHIP OF THE YEAR, ACHIEVING COIN CDFI CERTIFICATION, AND BEING NAMED AS A KEELING CURVE PRIZE LAUREATE.

    Expenses $350,654

  • SCIENCE & RESEARCH - BLUE FOREST COMBINES THE LATEST WESTERN SCIENCE WITH INDIGENOUS KNOWLEDGE TO BUILD MORE RESILIENT ECOSYSTEMS AND COMMUNITIES. OUR SCIENCE TEAM WORKS TO EVALUATE AND MONITOR PROJECT BENEFITS. WE HELP DEVELOP, TEST AND DEPLOY NEW TOOLS AND METHODS FOR MEASURING RESTORATION PROJECT OUTCOMES. WE PARTNER WITH ACADEMIC AND RESEARCH ORGANIZATIONS TO EVALUATE AND COMMUNICATE THE BENEFITS OF INVESTING IN ECOSYSTEM RESILIENCE, AND WE MAINTAIN A PORTFOLIO OF INDEPENDENT RESEARCH PROJECTS AIMED AT GAINING NEW INSIGHTS INTO THE BENEFITS OF WELL-MANAGED LANDSCAPES. IN 2024 BLUE FOREST TEAM MEMBERS PUBLISHED 4 RESEARCH PAPERS, COMPLETED BENEFITS ANALYSIS FOR 21 UNIQUE PROJECTS, AND PARTICIPATED IN 19 PUBLIC PRESENTATIONS AND PANELS.

    Expenses $134,951

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Zachary Knight

    CEO & PRESIDENT

    Total calculated
    $231,178
    From this org
    $182,374
    From related orgs
    $0
    Other
    $48,804
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $180,634
    Bonus
    $0
    Other
    $1,740
    Deferred
    $7,990
    Nontaxable benefits
    $40,814
    Filer's total
    $231,178

  • Nicholas Wobbrock

    CHIEF CONSERVATION OFFICER & SECRETARY

    Total calculated
    $210,120
    From this org
    $178,913
    From related orgs
    $0
    Other
    $31,207
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $177,173
    Bonus
    $0
    Other
    $1,740
    Deferred
    $7,550
    Nontaxable benefits
    $23,657
    Filer's total
    $210,120

  • Sheri Elliott

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ricardo Bayon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Newsha K Ajami

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Daniela Saltzman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Chad Reed

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gordon Vermeer

    CFO & TREASURER

    Total calculated
    $215,950
    From this org
    $182,895
    From related orgs
    $0
    Other
    $33,055
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $181,817
    Bonus
    $0
    Other
    $1,078
    Deferred
    $7,703
    Nontaxable benefits
    $25,352
    Filer's total
    $215,950

  • Philip Saksa

    CHIEF SCIENTIST

    Total calculated
    $212,430
    From this org
    $193,240
    From related orgs
    $0
    Other
    $19,190
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $191,500
    Bonus
    $0
    Other
    $1,740
    Deferred
    $7,730
    Nontaxable benefits
    $11,460
    Filer's total
    $212,430

  • MacKenzie Cloyes

    CHIEF OF STAFF

    Total calculated
    $178,834
    From this org
    $161,734
    From related orgs
    $0
    Other
    $17,100
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $160,000
    Bonus
    $0
    Other
    $1,734
    Deferred
    $6,469
    Nontaxable benefits
    $10,631
    Filer's total
    $178,834

  • Forest Crandall

    DIRECTOR OF INVESTMENTS

    Total calculated
    $160,436
    From this org
    $144,728
    From related orgs
    $0
    Other
    $15,708
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $143,500
    Bonus
    $0
    Other
    $1,228
    Deferred
    $5,600
    Nontaxable benefits
    $10,108
    Filer's total
    $160,436

  • Seren Pendleton-Knoll

    DIRECTOR OF EXTERNAL AFFAIRS

    Total calculated
    $160,427
    From this org
    $132,754
    From related orgs
    $0
    Other
    $27,673
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $131,020
    Bonus
    $0
    Other
    $1,734
    Deferred
    $5,689
    Nontaxable benefits
    $21,984
    Filer's total
    $160,427

  • Micah Elias

    DIRECTOR OF NATURAL CAPITAL

    Total calculated
    $141,186
    From this org
    $125,534
    From related orgs
    $0
    Other
    $15,652
    Hours/week
    50

  • Luke Carpenter

    DIRECTOR OF INVESTMENTS

    Total calculated
    $144,148
    From this org
    $124,358
    From related orgs
    $0
    Other
    $19,790
    Hours/week
    50

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 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

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
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

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

  • NATIONAL FOREST FOUNDATION

    $1,000,000

    FOREST RESTORATION SERVICES ASSOCIATED WITH YUBA II FRB PROJECT

  • CHELAN COUNTY

    $200,000

    FOREST RESTORATION SERVICES ASSOCIATED WITH UPPER WENATCHEE I FRB PROJECT

  • UPPER MOKELUMNE RIVER WATERSHED AUTHORITY

    $100,000

    FOREST RESTORATION SERVICES ASSOCIATED WITH UPPER MOKELUMNE I FRB PROJECT

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.

  • BUTTE VALLEY I FRB LLC

    FINANCING · DE · income $0 · assets $0

    Directly controlled by BLUE FOREST FINANCE INC

  • NORTH FEATHER I FRB LLC

    FINANCING · DE · income $221,053 · assets $221,154

    Directly controlled by BLUE FOREST FINANCE INC

  • PLUMAS COMMUNITY PROTECTION I FRB LLC

    FINANCING · DE · income $21,053 · assets $21,155

    Directly controlled by BLUE FOREST FINANCE INC

  • SONEC I WRB LLC

    FINANCING · DE · income $0 · assets $129

    Directly controlled by BLUE FOREST FINANCE INC

  • UPPER BUTTE CREEK I FRB LLC

    FINANCING · DE · income $21,053 · assets $21,155

    Directly controlled by BLUE FOREST FINANCE INC

  • UPPER WENATCHEE I FRB LLC

    FINANCING · DE · income $33,333 · assets $99

    Directly controlled by BLUE FOREST FINANCE INC

  • YUBA II FRB LLC

    FINANCING · CA · income $836,224 · assets $7,351,657

    Directly controlled by BLUE FOREST FINANCE INC

  • FRB CATALYST FACILITY LLC

    FINANCING · DE · income $137,022 · assets $16,282,190

    Directly controlled by BLUE FOREST FINANCE INC

  • BLUE FOREST ASSET MANAGEMENT LLC

    FINANCING · DE · income $0 · assets $102,349

    Directly controlled by BLUE FOREST FINANCE INC

  • CALIFORNIA WILDFIRE INNOVATION FUND I GENERAL PARTNER LLC

    FINANCING · DE · income $16 · assets $4,874,863

    Directly controlled by BLUE FOREST ASSET MANAGEMENT LLC

  • ROGUE VALLEY I FRB LLC

    FINANCING · DE · income $0 · assets $60,137

    Directly controlled by BLUE FOREST FINANCE INC

  • UPPER MOKELUMNE I FRB LLC

    FINANCING · DE · income $50,000 · assets $1,438,374

    Directly controlled by BLUE FOREST FINANCE INC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • CALIFORNIA WILDFIRE INNOVATION FUND I LP

    RELATED · FINANCING · DE · 52.48% owned · share of income -$1,019,112 · share of assets $4,134,696 · general or managing partner

    Directly controlled by CALIFORNIA WILDFIRE INNOVATION FUND I GENERAL PARTNER LLC

Provenance

Return type
form_990
Tax year
2024
Filed
8 October 2025
IRS schema version
2024v5.2
Source object
202502829349300440

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.