Totals
- Total revenue
- $28,831,424
- Total expenses
- $16,281,832
- Contributions and grants received
- $6,986,424
- Grants paid
- $0
- Program service revenue
- $40,711
- Investment income
- $5,206,904
- Other revenue
- $16,597,385
- Total assets, end of year
- $31,227,885
- Total liabilities, end of year
- $1,786,996
- Net assets or fund balances, end of year
- $29,440,889
- Program services expenses (Part IX)
- $15,002,498
- Management and general expenses
- $1,048,482
- Fundraising expenses
- $230,852
- Program service expenses (Part III)
- $15,002,498
Program services were 92.1% 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
$6,986,424
-
1g · Noncash contributions included above
$5,176
-
2a · Program service revenue: CARBONFREE PRODUCT FEES
total $40,711 · related or exempt $40,711
-
3 · Investment income
total $216,721 · excluded $216,721
-
7a · Gross sales of assets other than inventory
other assets $5,000,000
-
7b · Less cost or other basis and sales expenses
other assets $9,817
-
7c · Gain or loss
other assets $4,990,183
-
7d · Net gain or loss
total $4,990,183 · excluded $4,990,183
-
10a · Gross sales of inventory
$19,716,910
-
10b · Cost of goods sold
$3,122,017
-
10c · Net income from sales of inventory
total $16,594,893 · related or exempt $16,594,893
-
11a · Other revenue: MISCELLANEOUS INCOME
total $2,492 · related or exempt $2,492
-
11e · Other revenue, total
$2,492
Functional expenses
Part IX, the statement of functional expenses.
-
5 · Compensation of officers, directors and key employees
total $6,687,876 · program services $6,202,203 · management and general $291,404 · fundraising $194,269
-
7 · Other salaries and wages
total $2,474,967 · program services $2,474,967
-
8 · Pension plan contributions
total $23,500 · program services $23,500
-
9 · Other employee benefits
total $65,089 · program services $65,089
-
10 · Payroll taxes
total $204,434 · program services $193,702 · management and general $6,439 · fundraising $4,293
-
11b · Fees: legal
total $343,453 · management and general $343,453
-
11c · Fees: accounting
total $76,138 · management and general $76,138
-
11d · Fees: lobbying
total $150,000 · program services $150,000
-
11f · Fees: investment management
total $9,335 · management and general $9,335
-
11g · Fees: other
total $363,838 · program services $98,010 · management and general $265,828
-
12 · Advertising and promotion
total $53,353 · program services $53,353
-
13 · Office expenses
total $5,292 · management and general $5,292
-
14 · Information technology
total $89,857 · program services $40,081 · management and general $25,432 · fundraising $24,344
-
17 · Travel
total $1,434 · program services $198 · management and general $1,236
-
22 · Depreciation, depletion and amortization
total $36,222 · program services $36,180 · management and general $42
-
23 · Insurance
total $10,152 · management and general $10,152
-
24a · Other expenses: SUPPORT OF CARBON OFFSET
total $4,214,162 · program services $4,214,162
-
24b · Other expenses: EXCISE TAXES
total $1,451,053 · program services $1,451,053
-
24c · Other expenses: LICENSES AND PERMITS
total $13,305 · management and general $5,359 · fundraising $7,946
-
24d · Other expenses: MISCELLANEOUS EXPENSES
total $6,437 · management and general $6,437
-
24e · All other expenses
total $1,935 · management and general $1,935
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,707,853 · end of year $88,562
-
2 · Savings and temporary cash investments
end of year $11,695,802
-
3 · Pledges and grants receivable
beginning of year $379,187 · end of year $481,765
-
4 · Accounts receivable
beginning of year $2,380,842 · end of year $1,411,835
-
8 · Inventories for sale or use
beginning of year $3,129,409 · end of year $1,062,820
-
10a · Land, buildings and equipment: cost or other basis
$2,940
-
10b · Land, buildings and equipment: accumulated depreciation
$2,940
-
10c · Land, buildings and equipment, net
beginning of year $567
-
11 · Investments: publicly traded securities
beginning of year $13,574,297 · end of year $16,237,101
-
14 · Intangible assets
beginning of year $45,472
-
15 · Other assets
end of year $250,000
-
17 · Accounts payable and accrued expenses
beginning of year $4,083,224 · end of year $335,943
-
25 · Other liabilities
end of year $1,451,053
-
27 · Net assets without donor restrictions
beginning of year $17,853,501 · end of year $28,950,304
-
28 · Net assets with donor restrictions
beginning of year $2,280,902 · end of year $490,585
Mission and programs · 2022
Mission
THROUGH OCTOBER 2022, OUR MISSION IS TO REDUCE THE IMPACT OF CLIMATE CHANGE THROUGH THE REDUCTION OF CARBON DIOXIDE EMISSIONS, EDUCATE THE PUBLIC ABOUT THE ISSUES OF CLIMATE CHANGE, SUPPORT RENEWABLE ENERGY, ENERGY EFFICIENCY, AND FORESTRY PROJECTS, AND SEEK WAYS TO HAVE A CLEANER AND HEALTHIER ENVIRONMENT. AFTER THIS DATE, THE ORGANIZATION'S MISSION IS TO SUPPORT INDIVIDUALS, NONPROFITS AND BUSINESSES AROUND THE WORLD ON SOLUTIONS TO COMPLEX CLIMATE ISSUES. TO PROVIDE LEADERSHIP, OUTREACH AND COMMUNICATION SUPPORT, GRANTS, AND INVESTMENTS TO EMPOWER LEADERS AND THEIR IDEAS TO SOLVE OUR CLIMATE CRISIS.
Activities or mission (Part I)
REDUCING THE IMPACT OF CLIMATE CHANGE THROUGH REDUCTION OF CO2 EMISSIONS, ENVIRONMENTAL EDUCATION, RENEWABLE AND EFFICIENT ENERGY, AND FORESTRY PROJECTS FOR A CLEANER AND HEALTHIER ENVIRONMENT.
-
CARBONFUND.ORG FOUNDATION, INC. SUPPORTED THE REDUCTION OF CARBON OFFSETS, THE PLANTING OF TREES, IN ADDITION TO SUPPORTING NUMEROUS CARBONFREE CERTIFIED PRODUCTS, WATER RESTORATION CREDITS, AND RENEWABLE ENERGY CERTIFICATES.
Expenses $15,002,498 · Revenue $43,203
-
CARBONCO, A WHOLLY-OWNED SUBSIDIARY OF THE FOUNDATION, CONTINUED TO ADVISE AND ASSIST WITH THE IMPLEMENTATION OF FOUR REDD+ CARBON REDUCTION PROJECTS IN THE ACRE, BRAZIL, HELPING TO PRESERVE 750,000 ACRES, VERIFYING THE CARBON REDUCTIONS, ALONG WITH THE COMMUNITY AND BIODIVERSITY BENEFITS TO THE HIGHEST INTERNATIONAL STANDARDS, INCLUDING VCS AND CCBS WITH GOLD LEVEL DISTINCTION.
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Eric CarlsonERIC CARLSON
PRESIDENT
- Total calculated
- $7,134,127
- From this org
- $7,098,657
- From related orgs
- $0
- Other
- $35,470
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $413,507
- Bonus
- $6,685,150
- Other
- not reported
- Deferred
- $12,200
- Nontaxable benefits
- $23,270
- Filer's total
- $7,134,127
-
Brian McFarlandBRIAN MCFARLAND
SR. VP OF PR
- Total calculated
- $1,508,589
- From this org
- $1,502,189
- From related orgs
- $0
- Other
- $6,400
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $247,264
- Bonus
- $1,254,925
- Other
- not reported
- Deferred
- $6,400
- Nontaxable benefits
- not reported
- Filer's total
- $1,508,589
-
Jarett EmertJARETT EMERT
VP OF PARTNE
- Total calculated
- $1,462,408
- From this org
- $1,436,931
- From related orgs
- $0
- Other
- $25,477
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $204,182
- Bonus
- $1,232,749
- Other
- not reported
- Deferred
- $8,360
- Nontaxable benefits
- $17,117
- Filer's total
- $1,462,408
-
Linda KellyLINDA KELLY
VP OF PARTNE
- Total calculated
- $202,701
- From this org
- $186,667
- From related orgs
- $0
- Other
- $16,034
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $186,667
- Bonus
- not reported
- Other
- not reported
- Deferred
- $7,073
- Nontaxable benefits
- $8,961
- Filer's total
- $202,701
-
Suzanne KaufmanSUZANNE KAUFMAN
CFO/FINANCE
- Total calculated
- $160,077
- From this org
- $160,077
- From related orgs
- $0
- Other
- $0
- Hours/week
- 29
Schedule J breakdown matched by us
- Base
- $60,077
- Bonus
- $100,000
- Other
- not reported
- Deferred
- not reported
- Nontaxable benefits
- not reported
- Filer's total
- $160,077
-
Mark ReesMARK REES
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
W Paul RowlandW PAUL ROWLAND
CHAIRMAN
- Total calculated
- $0
- Hours/week
- 4
-
Reed SpellmanREED SPELLMAN
TREASURER
- Total calculated
- $0
- Hours/week
- 2
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
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
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
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- SCHEDULE J, PAGE 1, PART I, LINE 6B
- COMPENSATION CONTINGENT UPON NET EARNINGS OF CARBONCO, LLC, THE WHOLLY- OWNED, SINGLE-MEMBER LIMITED LIABILITY COMPANY OF THE ORGANIZATION (AND DISREGARDED FOR TAX PURPOSES). THE BOARD OF CARBONCO ADOPTED SHORT-TERM AND LONG-TERM INCENTIVE PLANS FOR THE PRESIDENT, EXECUTIVE VICE PRESIDENT OF CARBON PROJECTS & ORIGINATION, AND SENIOR VICE PRESIDENT OF CLIMATE STRATEGY & PARTNERSHIPS/CONSERVATION INVESTMENTS. AN INDEPENDENT COMPENSATION CONSULTANT, KORN FERRY, WAS ENGAGED TO PERFORM A COMPARABILITY STUDY AND COMPENSATION ANALYSIS AND DEVELOP AND RECOMMEND THESE PLANS FOR THE BOARD'S REVIEW AND APPROVAL. THE PLANS WERE DEVELOPED AND APPROVED BY THE BOARD TO ALIGN THE INTERESTS OF EMPLOYEES WITH CARBONCO'S BUSINESS PLAN TO SUPPORT THE TAX-EXEMPT PURPOSES OF THE ORGANIZATION, FOCUS ON THE LONG- TERM GROWTH AND PERFORMANCE OF CARBONCO'S BUSINESS, AND RETAIN KEY EMPLOYEES. IN APPROVING THE PLANS, CARBONCO FOLLOWED THE REBUTTABLE PRESUMPTION PROCEDURE DESCRIBED IN REGULATIONS SECTION 53.4958-6(C).
- SCHEDULE J, PAGE 1, PART I, LINE 7
- ALL EMPLOYEES ARE ELIGIBLE TO RECEIVE BONUSES ANNUALLY. THESE BONUSES ARE DETERMINED BY THE PRESIDENT, WHILE THE PRESIDENT'S BONUS IS DETERMINED BY THE BOARD.
- SCHEDULE J, PART III
- THE FOLLOWING FIGURES REPRESENT AMOUNTS REPORTED ON SCHEDULE J WHICH WERE REIMBURSED BY CARBONCO, LLC, A DISREGARDED ENTITY OF CARBONFUND.ORG FOUNDATION, FOR RELATED WORK PERFORMED: ERIC CARLSON: BASE - 157,435; BONUS - 6,642,950 BRIAN MCFARLAND: BASE - 129,257; BONUS - 1,254,925 JARETT EMERT: BASE - 48,691; BONUS - 1,217,979 SUZANNE KAUFMAN: BASE - 4,619; BONUS - 100,000 THE ORGANIZATION ENGAGED THE LAW FIRM OF ARNOLD & PORTER KAYE SCHOLER LLP TO PROVIDE A WRITTEN LEGAL OPINION ON WHETHER THE COMPENSATION PAID, BASED ON THE COMPARABILITY DATA AND ANALYSIS PROVIDED BY THE INDEPENDENT COMPENSATION CONSULTANT, KORN FERRY, MEETS THE REBUTTABLE PRESUMPTION PROCEDURE DESCRIBED IN REGULATIONS SECTION 53.4958-6(C) AND WHETHER SUCH COMPENSATION IS REASONABLE AND WILL NOT RESULT IN AN EXCESS BENEFIT TRANSACTION SUBJECT TO TAX UNDER SECTION 4958. THE LAW FIRM'S OPINION CONCLUDED THAT, BASED ON THE FACTS PRESENTED AND THE COMPARABILITY DATA AND ANALYSIS PROVIDED BY KORN FERRY, IN THEIR OPINION, IT IS MORE LIKELY THAN NOT THAT THE COMPENSATION PAID IS REASONABLE AND WILL NOT RESULT IN AN EXCESS BENEFIT TRANSACTION SUBJECT TO TAX UNDER SECTION 4958.
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.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
CARBONCO LLC
CONSULTING · DE · income $16,635,830 · assets $5,869,968
Directly controlled by ENVIR NEXT ENVIRONMENT NEXT INC
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 8 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202333199349306538
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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