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← CIRCULATE INITIATIVE INC

Form 990 for tax year 2024

Filed by CIRCULATE INITIATIVE INC.

Totals

Total revenue
$1,974,077
Total expenses
$2,510,477
Contributions and grants received
$1,738,577
Grants paid
$274,267
Program service revenue
$200,445
Investment income
$35,055
Other revenue
$0
Total assets, end of year
$3,322,495
Total liabilities, end of year
$2,055,079
Net assets or fund balances, end of year
$1,267,416
Program services expenses (Part IX)
$2,192,592
Management and general expenses
$317,885
Fundraising expenses
$0
Program service expenses (Part III)
$2,192,592

Program services were 87.3% 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

    $1,738,577

  • 2a · Program service revenue: CONSULTING

    total $200,445 · related or exempt $200,445

  • 3 · Investment income

    total $28,081 · excluded $28,081

  • 7a · Gross sales of assets other than inventory

    other assets $6,974

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

    other assets $0

  • 7c · Gain or loss

    other assets $6,974

  • 7d · Net gain or loss

    total $6,974 · excluded $6,974

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $15,242 · program services $15,242

  • 3 · Grants to foreign organizations and individuals

    total $259,025 · program services $259,025

  • 5 · Compensation of officers, directors and key employees

    total $307,043 · program services $211,680 · management and general $95,363

  • 9 · Other employee benefits

    total $4,314 · program services $3,192 · management and general $1,122

  • 11b · Fees: legal

    total $60,290 · program services $51,931 · management and general $8,359

  • 11c · Fees: accounting

    total $14,449 · program services $12,446 · management and general $2,003

  • 11g · Fees: other

    total $306,798 · program services $264,260 · management and general $42,538

  • 13 · Office expenses

    total $2,494 · management and general $2,494

  • 14 · Information technology

    total $3,857 · program services $3,857

  • 16 · Occupancy

    total $2,609 · program services $2,366 · management and general $243

  • 17 · Travel

    total $214,936 · program services $202,249 · management and general $12,687

  • 19 · Conferences, conventions and meetings

    total $3,441 · program services $1,747 · management and general $1,694

  • 23 · Insurance

    total $14,365 · program services $10,918 · management and general $3,447

  • 24a · Other expenses: CONSULTING

    total $1,193,158 · program services $1,048,398 · management and general $144,760

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $107,941 · program services $105,281 · management and general $2,660

  • 24c · Other expenses: BANK CHARGES

    total $515 · management and general $515

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,087,981 · end of year $3,160,895

  • 4 · Accounts receivable

    beginning of year $126,846 · end of year $120,001

  • 9 · Prepaid expenses and deferred charges

    beginning of year $53,777 · end of year $41,599

  • 17 · Accounts payable and accrued expenses

    beginning of year $194,396 · end of year $183,949

  • 19 · Deferred revenue

    beginning of year $267,767 · end of year $1,831,162

  • 25 · Other liabilities

    beginning of year $2,625 · end of year $39,968

  • 27 · Net assets without donor restrictions

    beginning of year $1,803,816 · end of year $1,267,416

Mission and programs · 2024

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 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.

  • 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 $525,753

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

    Expenses $241,716

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

    Expenses $1,425,123

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

Listed in Part VII

  • ROBERT KAPLAN

    BOARD MEMBER/TREASURER

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL SADOWSKI

    EXEC DIRECTOR AND BOARD MEMBER

    Total calculated
    $141,750
    From this org
    $141,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

  • HEATHER CANON

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • ARIEL MULLERTHRU DEC 2024

    BOARD MEMBER/SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • KAVITA PRAKASH-MANI

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • KHUNAPONG KHUNARAKSA

    SR. DIRECTOR, FINANCE & OPS

    Total calculated
    $169,607
    From this org
    $165,293
    From related orgs
    $0
    Other
    $4,314
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $165,293
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $4,314
    Filer's total
    $169,607

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 · 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

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.

Related partnerships

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

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
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202543189349314654

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