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Nonprofiteer
← CIRCULATE INITIATIVE INC

Form 990 for tax year 2022

Filed by CIRCULATE INITIATIVE INC.

Totals

Total revenue
$4,096,428
Total expenses
$3,951,480
Contributions and grants received
$4,090,780
Grants paid
$109,900
Program service revenue
$0
Investment income
$5,648
Other revenue
$0
Total assets, end of year
$2,645,356
Total liabilities, end of year
$201,186
Net assets or fund balances, end of year
$2,444,170
Program services expenses (Part IX)
$3,508,914
Management and general expenses
$429,677
Fundraising expenses
$12,889
Program service expenses (Part III)
$3,508,914

Program services were 88.8% 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

    $4,090,780

  • 3 · Investment income

    total $8,318 · excluded $8,318

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

    other assets $2,670

  • 7c · Gain or loss

    other assets -$2,670

  • 7d · Net gain or loss

    total -$2,670 · excluded -$2,670

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $109,900 · program services $109,900

  • 5 · Compensation of officers, directors and key employees

    total $202,269 · program services $114,589 · management and general $87,594 · fundraising $86

  • 9 · Other employee benefits

    total $5,755 · program services $1,054 · management and general $4,701

  • 10 · Payroll taxes

    total $24,347 · program services $5,843 · management and general $18,504

  • 11b · Fees: legal

    total $63,956 · program services $63,956

  • 11g · Fees: other

    total $163,348 · program services $6,866 · management and general $156,482

  • 12 · Advertising and promotion

    total $72,342 · program services $72,342

  • 13 · Office expenses

    total $543 · program services $55 · management and general $488

  • 14 · Information technology

    total $4,284 · program services $4,137 · management and general $147

  • 16 · Occupancy

    total $3,135 · program services $509 · management and general $2,626

  • 17 · Travel

    total $31,613 · program services $18,050 · management and general $11,486 · fundraising $2,077

  • 19 · Conferences, conventions and meetings

    total $2,076 · program services $1,153 · management and general $923

  • 23 · Insurance

    total $11,283 · program services $445 · management and general $10,838

  • 24a · Other expenses: CONSULTING

    total $3,213,562 · program services $3,077,652 · management and general $132,906 · fundraising $3,004

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $35,067 · program services $24,363 · management and general $2,982 · fundraising $7,722

  • 24c · Other expenses: PROGRAMMATIC EXPENSE

    total $8,000 · program services $8,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,239,847 · end of year $2,207,740

  • 4 · Accounts receivable

    beginning of year $971,902 · end of year $400,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $3,979 · end of year $37,616

  • 15 · Other assets

    beginning of year $9,721 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $702,833 · end of year $36,199

  • 19 · Deferred revenue

    beginning of year $223,394 · end of year $164,987

  • 27 · Net assets without donor restrictions

    beginning of year $1,763,297 · end of year $2,044,170

  • 28 · Net assets with donor restrictions

    beginning of year $535,925 · end of year $400,000

Mission and programs · 2022

Mission

THE ORGANIZATION'S PURPOSE IS TO TARGET THE REDUCTION OF OCEAN PLASTICS AND RELATED ENVIRONMENTAL POLLUTION AND COMBATTING ENVIRONMENTAL DETERIORATION BY CONDUCTING ACTIVITY IN SOUTH AND SOUTH EAST ASIA THROUGH THREE OF ITS CORE STRATEGIES: INCUBATION AND TECHNICAL ASSISTANCE; IMPACT MEASUREMENT AND KNOWLEDGE MANAGEMENT; AND AMPLIFICATION AND AWARENESS BUILDING IN FURTHERANCE OF THE SOCIAL AND ENVIRONMENTAL IMPACTS OF REDUCING THE AMOUNT OF PLASTIC ENTERING THE ENVIRONMENT AND CREATING ECONOMIC VALUE FOR MARGINALIZED LOCAL COMMUNITIES.

Activities or mission (Part I)

THE ORGANIZATION'S PURPOSE IS TO TARGET THE REDUCTION OF OCEAN PLASTICS AND RELATED ENVIRONMENTAL POLLUTION AND COMBATING ENVIRONMENTAL DETERIORATION BY CONDUCTING ACTIVITY IN SOUTH AND SOUTH EAST EASIA THROUGH THREE OF ITS CORE STRATEGIES: INCUBATION AND TECHNICAL ASSISTANCE; IMPACT MEASUREMENT AND KNOWLEDGE MANAGEMENT; AND AMPLIFICATION AND AWARENESS BUILDING IN FURTHERANCE OF THE SOCIAL AND ENVIRONMENTAL IMPACTS OF REDUCING THE AMOUNT OF PLASTIC ENTERING THE ENVIRONMENT AND CREATING ECONOMIC VALUE FOR MARGINALIZED LOCAL COMMUNITIES.

  • ENCOURAGE MORE AND BETTER BUSINESSES AND ENTREPRENEURS TO BE INVOLVED IN THE CIRCULAR ECONOMY IN EMERGING COUNTRIES, SUPPORT THEM AS THEY DEVELOP THEIR BUSINESSES AND CREATE THE ENABLING CONDITIONS THEY NEED TO SUCCEED.

    Expenses $2,035,916

  • PROVIDE FIELD-LEADING TOOLS AND METRICS THAT ALLOW STAKEHOLDERS TO UNDERSTAND THE OCEAN PLASTIC PROBLEM, SET BASELINES AND TARGETS, AND TRACK THE ENVIRONMENTAL AND SOCIAL IMPACTS OF THEIR INTERVENTIONS TO MAKE BETTER DECISIONS.

    Expenses $1,170,500

  • PROVIDE DECISIONMAKERS, INVESTORS, AND BUSINESSES WITH KNOWLEDGE, INSPIRATION, NETWORKS AND RESOURCES TO REPLICATE AND SCALE SUCCESSES.

    Expenses $177,382

  • PROVIDE SUPPORT TO EXISTING PROGRAMS AIMED AT ENDING OCEAN PLASTIC THAT INCENTIVIZE, CREATE, SUPPORT AND OPERATE PLASTIC WASTE-REDUCING, INCLUSIVE, CIRCULAR ECONOMIES.

    Expenses $125,116

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

Listed in Part VII

  • Robert Kaplan

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Michael Sadowski

    EXECUTIVE DIRECTOR AND BOARD MEMBER

    Total calculated
    $91,950
    From this org
    $91,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Jeep Kline

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Ariel Muller

    BOARD MEMBER/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Khunapong Khunaraksa

    DIRECTOR OF OPERATIONS AND STRATEGY

    Total calculated
    $134,665
    From this org
    $131,369
    From related orgs
    $0
    Other
    $3,296
    Hours/week
    40

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.

Schedule J

Answered yes

  • 3 · Independent compensation consultant

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

  • UNIVERSITY OF GEORGIA RESEARCH FOUNDATION

    $99,900

    CONDUCT CIRCULARITY ASSESSMENT PROTOCOLS FOR THE URBAN OCEAN PROGRAM

  • RESOURCE RECYCLING SYSTEMS INC

    $10,000

    CONDUCT A FEASIBILITY STUDY TO ESTABLISH A PILOT FOR FILM AND FLEXIBLE COLLECTION AND RECYCLING IN PENANG, MALAYSIA

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.

Related partnerships

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

  • CIRCULATE CAPITAL LLC

    N/A · MANAGEMENT SERVICES · NY

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CIRCULATE CAPITAL MANAGEMENT PTE LTD

    C · MANAGEMENT SERVICES · SN

Provenance

Return type
form_990
Tax year
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202313189349310706

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