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Nonprofiteer
← CANARY MEDIA INC

Form 990 for tax year 2022

Filed by CANARY MEDIA INC.

Totals

Total revenue
$1,234,416
Total expenses
$2,825,261
Contributions and grants received
$671,190
Grants paid
$0
Program service revenue
$560,726
Investment income
$0
Other revenue
$2,500
Total assets, end of year
$704,804
Total liabilities, end of year
$3,563,589
Net assets or fund balances, end of year
-$2,858,785
Program services expenses (Part IX)
$2,612,133
Management and general expenses
$146,418
Fundraising expenses
$66,710
Program service expenses (Part III)
$2,612,133

Program services were 92.5% 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

    $671,190

  • 2a · Program service revenue: CONSULTING FEES

    total $235,793 · related or exempt $235,793

  • 2b · Program service revenue: ADVERTISING

    total $314,375 · unrelated business $314,375

  • 2c · Program service revenue: EVENT REVENUE

    total $10,558 · related or exempt $10,558

  • 3 · Investment income

    total $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11a · Other revenue: MISCELLANEOUS INCOME

    total $2,500 · related or exempt $2,500

  • 11e · Other revenue, total

    $2,500

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $349,868 · program services $260,580 · management and general $22,578 · fundraising $66,710

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $1,427,216 · program services $1,427,216

  • 8 · Pension plan contributions

    total $84,050 · program services $84,050

  • 9 · Other employee benefits

    total $157,674 · program services $157,674

  • 10 · Payroll taxes

    total $139,395 · program services $139,395

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $4,725 · management and general $4,725

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $365,008 · program services $365,008

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $19,837 · program services $19,837

  • 14 · Information technology

    total $53,751 · program services $53,751

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $66,523 · program services $66,523

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $10,126 · program services $10,126

  • 20 · Interest

    total $119,115 · management and general $119,115

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $0

  • 23 · Insurance

    total $0

  • 24a · Other expenses: FOREIGN CURRENCY ADJUSTMENT

    total $120 · program services $120

  • 24b · Other expenses: TAXES

    total $27,853 · program services $27,853

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $337,917 · end of year $345,085

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $150,000

  • 4 · Accounts receivable

    beginning of year $155,925 · end of year $195,877

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $15,285 · end of year $6,459

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $0 · end of year $7,383

  • 17 · Accounts payable and accrued expenses

    beginning of year $190,387 · end of year $356,433

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $291,540 · end of year $435,456

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $1,250,000 · end of year $2,750,000

  • 25 · Other liabilities

    beginning of year $45,140 · end of year $21,700

  • 27 · Net assets without donor restrictions

    beginning of year -$1,345,170 · end of year -$3,008,785

  • 28 · Net assets with donor restrictions

    beginning of year $77,230 · end of year $150,000

Mission and programs · 2022

Mission

A JOURNALISM OUTLET DEDICATED TO CHRONICLING THE TRANSITION TO A DECARBONIZED ECONOMY AND SOCIETY.

  • CANARY MEDIA'S OVERARCHING GOAL IS TO PROVIDE THE MOST RELEVANT INFORMATION AND EXPERT ANALYSIS ON CLIMATETECH AND CLEAN ENERGY FOR AN AUDIENCE OF CONCERNED CITIZENS, AS WELL AS THE POLICYMAKERS, INVESTORS AND INDUSTRY PARTICIPANTS WHO ARE UNDER PRESSURE TO PLAN AND EXECUTE THE FAR-REACHING CHANGES REQUIRED TO ACHIEVE RAPID DECARBONIZATION. BROADLY, OUR COVERAGE IS DIVIDED INTO: RENEWABLE GENERATION, GRID MODERNIZATION AND ELECTRIFICATION; DECARBONIZATION OF TRANSPORTATION, BUILDINGS AND HEAVY INDUSTRY; AND PROGRESS ON FINANCIAL, REGULATORY AND ENVIRONMENTAL JUSTICE ISSUES.

    Expenses $2,612,133 · Revenue $238,293

As filed on the 2022 return.

Listed in Part VII

  • Jules Kortenhorst

    RMI CEO (END 11/2022)

    Total calculated
    $776,287
    From this org
    $0
    From related orgs
    $734,956
    Other
    $41,331
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $470,087 related
    Bonus
    $0 + $252,000 related
    Other
    $0 + $12,869 related
    Deferred
    $0 + $15,250 related
    Nontaxable benefits
    $0 + $26,081 related
    Filer's total
    $0 + $776,287 related

  • Martha Pickett

    Board Member

    Total calculated
    $496,158
    From this org
    $0
    From related orgs
    $396,503
    Other
    $99,655
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $309,519 related
    Bonus
    $0 + $78,750 related
    Other
    $0 + $8,234 related
    Deferred
    $0 + $76,205 related
    Nontaxable benefits
    $0 + $23,450 related
    Filer's total
    $0 + $496,158 related

  • Heather McCreery

    TREASURER

    Total calculated
    $459,720
    From this org
    $0
    From related orgs
    $354,540
    Other
    $105,180
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $281,211 related
    Bonus
    $0 + $66,750 related
    Other
    $0 + $6,579 related
    Deferred
    $0 + $73,147 related
    Nontaxable benefits
    $0 + $32,033 related
    Filer's total
    $0 + $459,720 related

  • Lena Hansen

    Secretary, Board Member

    Total calculated
    $429,685
    From this org
    $0
    From related orgs
    $341,584
    Other
    $88,101
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    $0 + $272,839 related
    Bonus
    $0 + $65,750 related
    Other
    $0 + $2,995 related
    Deferred
    $0 + $68,182 related
    Nontaxable benefits
    $0 + $19,919 related
    Filer's total
    $0 + $429,685 related

  • Eric Wesoff

    CEO

    Total calculated
    $171,067
    From this org
    $163,647
    From related orgs
    $0
    Other
    $7,420
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,163
    Bonus
    $0
    Other
    $484
    Deferred
    $6,741
    Nontaxable benefits
    $679
    Filer's total
    $171,067

  • Nicholas Rinaldi

    General Manager

    Total calculated
    $169,834
    From this org
    $150,321
    From related orgs
    $0
    Other
    $19,513
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $149,983
    Bonus
    $0
    Other
    $338
    Deferred
    $7,570
    Nontaxable benefits
    $11,943
    Filer's total
    $169,834

  • Jeff St John

    News & Special Projects Direct

    Total calculated
    $164,492
    From this org
    $135,215
    From related orgs
    $0
    Other
    $29,277
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $135,081
    Bonus
    $0
    Other
    $134
    Deferred
    $5,250
    Nontaxable benefits
    $24,027
    Filer's total
    $164,492

  • Michael Munsell

    Director of Growth

    Total calculated
    $163,374
    From this org
    $126,303
    From related orgs
    $0
    Other
    $37,071
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,005
    Bonus
    $0
    Other
    $298
    Deferred
    $6,597
    Nontaxable benefits
    $30,474
    Filer's total
    $163,374

  • Lisa Hymas

    Executive Editor

    Total calculated
    $161,232
    From this org
    $145,810
    From related orgs
    $0
    Other
    $15,422
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,314
    Bonus
    $0
    Other
    $496
    Deferred
    $5,625
    Nontaxable benefits
    $9,797
    Filer's total
    $161,232

  • Katherine Gottsch

    Senior Director of Content

    Total calculated
    $145,287
    From this org
    $131,187
    From related orgs
    $0
    Other
    $14,100
    Hours/week
    40

  • Julian Spector

    Senior Reporter

    Total calculated
    $132,749
    From this org
    $116,533
    From related orgs
    $0
    Other
    $16,216
    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. 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

  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 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

The filer's explanations (Part III)

Schedule J, Part 1, Line 3
ROCKY MOUNTAIN INSTITUTE (RMI), A RELATED ORGANIZATION, HAS ENGAGED AN OUTSIDE COMPENSATION FIRM TO REVIEW COMPENSATION FOR ALL LEVELS, INCLUDING MANAGING DIRECTORS, UPDATE BENCHMARKS, AND ENSURE COMPENSATION LEVELS ARE APPROPRIATELY COMPETITIVE. THIS REVIEW IS COMPLETED ANNUALLY. RMI REGULARLY ENSURES NEW AND MODIFIED POSITIONS OF ALL LEVELS ARE APPROPRIATELY PRICED WITH REGARD TO SALARY AND BONUS, INCLUDING SENIOR LEVEL POSITIONS. THE PEOPLE COMMITTEE OF RMI'S BOARD OF TRUSTEES ANNUALLY REVIEWS ALL COMPENSATION PRACTICES, MARKET BENCHMARKS, AND VOTES ON FINAL COMPENSATION DECISIONS FOR ALL MANAGING DIRECTORS AND CHIEF OFFICERS. THE APPROVAL OF THESE DECISIONS ARE DOCUMENTED IN THE RMI BOARD MEETING MINUTES AND THE DETAIL OF THE COMPENSATION CHANGES ARE DOCUMENTED IN THE HUMAN RESOURCES SYSTEM.
Schedule J, Part I, Line 4B
Supplemental nonqualified plan: Rocky Mountain Institute, a related organization of Canary Media, Inc. established a 457(F) deferred compensation plan in October 2022 that allows certain executives to contribute money on a pre-tax basis into investments and to accumulate tax-deferred earnings. The following pre-tax calendar year 2022 contributions to the 457(F) plan are included in schedule J, Part II, column (C) as deferred compensation: $ 63,000 - Martha Pickett $ 58,740 - Heather McCreery $ 57,860 - Lena Hansen

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.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2024
IRS schema version
2022v5.0
Source object
202421099349301007

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