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← VERRA

Form 990 for tax year 2022

Filed by VERRA.

Totals

Total revenue
$32,424,242
Total expenses
$26,257,089
Contributions and grants received
$492,748
Grants paid
$167,823
Program service revenue
$31,441,144
Investment income
$490,350
Other revenue
$0
Total assets, end of year
$57,769,889
Total liabilities, end of year
$5,102,408
Net assets or fund balances, end of year
$52,667,481
Program services expenses (Part IX)
$18,068,528
Management and general expenses
$8,188,561
Fundraising expenses
$0
Program service expenses (Part III)
$18,068,528

Program services were 68.8% 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

    $492,748

  • 2a · Program service revenue: VCS, CCB, and SDVista levies

    total $27,655,005 · related or exempt $27,655,005

  • 2b · Program service revenue: Project registration fees

    total $3,023,519 · related or exempt $3,023,519

  • 2c · Program service revenue: Ver., Val., & Acct. opening fees

    total $661,000 · related or exempt $661,000

  • 2d · Program service revenue: VVB annual fees

    total $75,000 · related or exempt $75,000

  • 2e · Program service revenue: Other program income

    total $26,620 · related or exempt $26,620

  • 3 · Investment income

    total $490,364 · excluded $490,364

  • 7a · Gross sales of assets other than inventory

    other assets $380

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

    other assets $394

  • 7c · Gain or loss

    other assets -$14

  • 7d · Net gain or loss

    total -$14 · excluded -$14

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $84,066 · program services $84,066

  • 3 · Grants to foreign organizations and individuals

    total $83,757 · program services $83,757

  • 5 · Compensation of officers, directors and key employees

    total $1,563,025 · program services $835,317 · management and general $727,708

  • 7 · Other salaries and wages

    total $9,086,965 · program services $4,885,926 · management and general $4,201,039

  • 8 · Pension plan contributions

    total $471,009 · program services $271,691 · management and general $199,318

  • 9 · Other employee benefits

    total $1,759,000 · program services $1,009,812 · management and general $749,188

  • 10 · Payroll taxes

    total $463,902 · program services $265,183 · management and general $198,719

  • 11b · Fees: legal

    total $990,925 · program services $6,040 · management and general $984,885

  • 11c · Fees: accounting

    total $16,489 · management and general $16,489

  • 11g · Fees: other

    total $6,238,095 · program services $4,959,462 · management and general $1,278,633

  • 13 · Office expenses

    total $2,204,039 · program services $7,196 · management and general $2,196,843

  • 14 · Information technology

    total $355,156 · program services $229,450 · management and general $125,706

  • 16 · Occupancy

    total $252,158 · management and general $252,158

  • 17 · Travel

    total $921,415 · program services $159,061 · management and general $762,354

  • 19 · Conferences, conventions and meetings

    total $690,358 · program services $15,886 · management and general $674,472

  • 22 · Depreciation, depletion and amortization

    total $267,998 · management and general $267,998

  • 23 · Insurance

    total $150,858 · management and general $150,858

  • 24a · Other expenses: Bad debt

    total $481,901 · management and general $481,901

  • 24b · Other expenses: Subscriptions & dues

    total $175,973 · program services $4,031 · management and general $171,942

  • 24c · Other expenses: Overhead allocation

    total $0 · program services $5,251,650 · management and general -$5,251,650

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,972,523 · end of year $651,626

  • 2 · Savings and temporary cash investments

    beginning of year $45,597,825 · end of year $52,761,284

  • 3 · Pledges and grants receivable

    beginning of year $579,200

  • 4 · Accounts receivable

    beginning of year $776,933 · end of year $2,203,476

  • 9 · Prepaid expenses and deferred charges

    beginning of year $836,476 · end of year $1,146,673

  • 10a · Land, buildings and equipment: cost or other basis

    $1,296,083

  • 10b · Land, buildings and equipment: accumulated depreciation

    $822,179

  • 10c · Land, buildings and equipment, net

    beginning of year $582,579 · end of year $473,904

  • 15 · Other assets

    beginning of year $146,927 · end of year $532,926

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,705,083 · end of year $4,498,371

  • 19 · Deferred revenue

    beginning of year $4,816 · end of year $0

  • 25 · Other liabilities

    beginning of year $282,236 · end of year $604,037

  • 27 · Net assets without donor restrictions

    beginning of year $46,500,328 · end of year $52,667,481

Mission and programs · 2022

Mission

Verra develops and manages standards that help countries, the private sector and civil society achieve their sustainable development and climate action goals.

  • VCS Program: The VCS Program certifies GHG emission reduction projects according to a rigorous set of rules and requirements that ensure the environmental integrity of those projects.

    Expenses $9,721,585 · Revenue $27,956,616

  • Innovations: Developing new methodologies, tools, program updates and other innovations to enable the VCS and other Verra programs meet emerging needs and opportunities.

    Expenses $6,832,850

  • Plastics Waste Reduction Program: The Plastic Waste Reduction Program (Plastic Program) provides the means for consistent accounting, independent auditing and crediting of new or scaled-up waste collection and recycling projects.

    Expenses $458,367 · Revenue $31,120

  • Landscale Standard: LandScale (LS) is a collaborative initiative led by the Climate, Community and Biodiversity Alliance, the Rainforest Alliance and Verra. It will provide measurable indicators of the state and trajectory of sustainability at the landscape level across environmental, social, and economic dimensions.

    Expenses $454,592 · Grants $167,823

  • CCB Program: The Climate Community and Biodiversity (CCB) Standards program certifies projects that simultaneously address climate change, support local communities and smallholders, and conserve biodiversity. The CCB Standards are often used in conjunction with VCS Program-certified land management projects, including reforestation, afforestation, vegetation, forest restoration, agroforestry and sustainable agriculture projects.

    Expenses $306,959 · Revenue $2,800,908

  • SDVISta Program: The Sustainable Development Verified Impact Standard (SD VISta) is a framework for assessing and reporting on the sustainable development benefits of project-based activities, helping unlock new sources of finance to support and scale up high-impact efforts.

    Expenses $270,785 · Revenue $652,500

  • 3RI Initiative: Verra, BVRio, Danone, Veolia, Nestle, Tetra Pak, Conservation International, South Pole, Natural Capital Partners and SYSTEMIQ established the 3R Initiative to catalyze the responsible design, use and recovery of plastic materials and to support companies in directly reducing their plastic waste footprints and mitigating potential leakage into the environment.

    Expenses $23,390

  • California Offset Project Registry Program: The VCS-California Offset Project Registry (OPR) supports the State of California's emissions trading program. The OPR facilitates the listing, reporting, and verification of offset projects developed under the regulations of the State's emissions trading program.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Tao Yun

    Chair

    Total calculated
    $0
    Hours/week
    4

  • Anne-Marie Warris

    Vice-Chair

    Total calculated
    $0
    Hours/week
    2

  • Marc Stuart

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Dirk Forrister

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mark Kenber

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ken Markowitz

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ken Newcombe

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Andrea Garcia Guerrero

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Jim Cannon

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kelley Kizzier

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David Antonioli

    Chief Executive Officer

    Total calculated
    $428,965
    From this org
    $376,365
    From related orgs
    $0
    Other
    $52,600
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $337,213
    Bonus
    $39,152
    Other
    $0
    Deferred
    $19,576
    Nontaxable benefits
    $33,024
    Filer's total
    $428,965

  • William Ferretti

    Chief Operating & Financial Officer

    Total calculated
    $312,279
    From this org
    $270,735
    From related orgs
    $0
    Other
    $41,544
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $243,094
    Bonus
    $27,641
    Other
    $0
    Deferred
    $13,821
    Nontaxable benefits
    $27,723
    Filer's total
    $312,279

  • Toby Janson-Smith

    Chief Innovation Officer

    Total calculated
    $320,744
    From this org
    $271,841
    From related orgs
    $0
    Other
    $48,903
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $244,561
    Bonus
    $27,280
    Other
    $0
    Deferred
    $13,640
    Nontaxable benefits
    $35,263
    Filer's total
    $320,744

  • Robin Rix

    Chief Legal Officer

    Total calculated
    $253,114
    From this org
    $235,913
    From related orgs
    $0
    Other
    $17,201
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,536
    Bonus
    $22,377
    Other
    $0
    Deferred
    $10,632
    Nontaxable benefits
    $6,569
    Filer's total
    $253,114

  • Jerry Seager

    Acting Chief Program Officer

    Total calculated
    $247,923
    From this org
    $226,837
    From related orgs
    $0
    Other
    $21,086
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,700
    Bonus
    $23,137
    Other
    $0
    Deferred
    $8,021
    Nontaxable benefits
    $13,065
    Filer's total
    $247,923

  • Benktesh Sharma

    Sr Director, Technology Solutions

    Total calculated
    $223,922
    From this org
    $191,959
    From related orgs
    $0
    Other
    $31,963
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $176,490
    Bonus
    $15,469
    Other
    $0
    Deferred
    $6,188
    Nontaxable benefits
    $25,775
    Filer's total
    $223,922

  • Julianne J Baroody

    Sr Dir, Forest Carbon Innovation

    Total calculated
    $212,959
    From this org
    $188,415
    From related orgs
    $0
    Other
    $24,544
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,373
    Bonus
    $19,042
    Other
    $0
    Deferred
    $7,617
    Nontaxable benefits
    $16,927
    Filer's total
    $212,959

  • Cheryl Masella

    Director of Finance

    Total calculated
    $192,514
    From this org
    $156,305
    From related orgs
    $0
    Other
    $36,209
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,732
    Bonus
    $18,573
    Other
    $0
    Deferred
    $6,191
    Nontaxable benefits
    $30,018
    Filer's total
    $192,514

  • Sinclair T Vincent

    Dir of Sustainable Dev Innovation

    Total calculated
    $152,081
    From this org
    $137,994
    From related orgs
    $0
    Other
    $14,087
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,134
    Bonus
    $15,860
    Other
    $0
    Deferred
    $6,344
    Nontaxable benefits
    $7,743
    Filer's total
    $152,081

  • Breffni J Lynch

    Director of the Verra Registry

    Total calculated
    $169,200
    From this org
    $137,968
    From related orgs
    $0
    Other
    $31,232
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,039
    Bonus
    $15,929
    Other
    $0
    Deferred
    $6,371
    Nontaxable benefits
    $24,861
    Filer's total
    $169,200

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 · Written employment contract
  • 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

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • Voluntary Carbon Standard Association

    Dormant- dissolved January 2022 · SZ · controlled entity

    Directly controlled by Verra

Provenance

Return type
form_990
Tax year
2022
Filed
2 October 2023
IRS schema version
2022v5.0
Source object
202322759349300202

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

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