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← ALLIED CLIMATE PARTNERS INC

Form 990 for tax year 2023

Filed by ALLIED CLIMATE PARTNERS INC.

Totals

Total revenue
$7,800,000
Total expenses
$772,048
Contributions and grants received
$7,800,000
Grants paid
$0
Program service revenue
$0
Investment income
$0
Other revenue
$0
Total assets, end of year
$7,228,465
Total liabilities, end of year
$200,513
Net assets or fund balances, end of year
$7,027,952
Program services expenses (Part IX)
$544,973
Management and general expenses
$227,075
Fundraising expenses
$0
Program service expenses (Part III)
$544,973

Program services were 70.6% 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

    $7,800,000

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $191,931 · program services $153,544 · management and general $38,387

  • 10 · Payroll taxes

    total $13,909 · program services $11,127 · management and general $2,782

  • 11b · Fees: legal

    total $297,558 · program services $236,254 · management and general $61,304

  • 11c · Fees: accounting

    total $2,506 · management and general $2,506

  • 11g · Fees: other

    total $125,844 · program services $75,000 · management and general $50,844

  • 12 · Advertising and promotion

    total $62,068 · management and general $62,068

  • 13 · Office expenses

    total $749 · management and general $749

  • 14 · Information technology

    total $8,435 · management and general $8,435

  • 17 · Travel

    total $66,048 · program services $66,048

  • 19 · Conferences, conventions and meetings

    total $3,000 · program services $3,000

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $0 · end of year $2,091,707

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $5,000,000

  • 15 · Other assets

    beginning of year $0 · end of year $136,758

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $200,513

  • 27 · Net assets without donor restrictions

    beginning of year $0 · end of year $7,027,952

Mission and programs · 2023

Mission

ALLIED CLIMATE PARTNERS' (ACP) MISSION IS TO INVEST CATALYTIC CAPITAL TO RESOLVE CLIMATE FINANCE BOTTLENECKS IN EMERGING MARKETS AND DEVELOPING ECONOMIES BY FOSTERING, SUPPORTING, PROMOTING, AND CONDUCTING PROGRAMS, PROJECTS, AND ACTIVITIES, INCLUDING INNOVATING FINANCING MECHANISMS, DESIGNED TO MITIGATE THE EFFECTS OF CLIMATE CHANGE AND ENHANCE THE ABILITY OF VULNERABLE AND AT RISK COMMUNITIES, IN ORDER TO INCREASE CLIMATE RESILIENCY AND SUPPORT SUSTAINABLE ECONOMIC GROWTH AND ENERGY SECURITY GROUNDED IN THE TRANSITION TO CLEAN ENERGY AND ENERGY INFRASTRUCTURE.

Activities or mission (Part I)

USING INNOVATIVE FINANCING MECHANISMS TO INCREASE THE FLOW OF PHILANTHROPIC CATALYTIC CAPITAL TO CLIMATE-RELATED PROJECTS AND BUSINESSES IN EMERGING MARKETS AND DEVELOPING ECONOMIES THAT WILL HAVE A SIGNIFICANT IMPACT ON THE ADVERSE EFFECTS OF CLIMATE CHANGE AND ENHANCE THE ABILITY OF VULNERABLE AND AT-RISK COMMUNITIES TO EFFECTIVELY MANAGE CLIMATE RISK, PROMOTE CLIMATE RESILIENCY, AND SUPPORT ECONOMIC DEVELOPMENT.

  • ALLIED CLIMATE PARTNERS (ACP) SEEKS TO ADDRESS CLIMATE FINANCE CHALLENGES IN EMERGING MARKETS AND DEVELOPING ECONOMIES BY PROVIDING EARLY-STAGE-FOCUSED INVESTMENT PLATFORMS AND OTHERS FOCUSED ON CRITICAL CLIMATE-RELATED BOTTLENECKS WITH APPROPRIATE RISK-ORIENTED CAPITAL AND A MANDATE TO INVEST IN CLIMATE-FOCUSED COMPANIES THAT LACK ACCESS TO CAPITAL AND HAVE SIGNIFICANT POTENTIAL TO ADDRESS THE EFFECTS OF CLIMATE CHANGE. THE PRIMARY PROBLEMS WITH CATALYZING EFFECTIVE, LONG-LASTING CHANGE WHEN WORKING TO AMELIORATE THE DEVASTATING EFFECTS OF CLIMATE CHANGE ARE THE LACK OF INVESTMENT CAPITAL FOR POTENTIALLY EFFECTIVE PROJECTS AND A LACK OF MANAGERS AND FUNDS WHO ARE FOCUSED ON PRIORITIZING IMPACT AND CLIMATE RESILIENCY OVER RETURNS. ACP PLANS TO ADDRESS THESE PROBLEMS BY FUNDING INVESTMENT MANAGERS FOCUSED ON RAISING AND INVESTING CAPITAL TO ADDRESS THE FINANCING GAP AT THESE EARLY, RISK-ORIENTED STAGES OF THE PROJECT DEVELOPMENT PROCESS, WHEN STANDARD FINANCING IS DIFFICULT TO COME BY. IT WILL UTILIZE CAPITAL STRATEGICALLY TO LEVERAGE AND STIMULATE ADDITIONAL MARKET FUNDING, AND ITS INVESTMENTS WILL OFTEN BE IN JUNIOR, MORE CATALYTIC TRANCHES.

    Expenses $544,973

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MARK GALLOGLY

    DIRECTOR AND CHAIR

    Total calculated
    $0
    Hours/week
    10

  • WILLIAM R BAKER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • TONY CURNES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • AHMED SAEED

    CHIEF EXECUTIVE OFFICER EFF. 9/2023

    Total calculated
    $191,931
    From this org
    $189,583
    From related orgs
    $0
    Other
    $2,348
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $189,583
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $2,348
    Filer's total
    $191,931

  • MIMI ALEMAYEHOU

    INTERIM CEO THRU 9/2023

    Total calculated
    $0
    Hours/week
    40

  • TAYLOR RAY

    SECRETARY

    Total calculated
    $0
    Hours/week
    1.5

  • DANIEL HULLAH

    TREASURER

    Total calculated
    $0
    Hours/week
    1.5

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 · Compensation survey or study
  • 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

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.

  • ALLIED CLIMATE PARTNERS MANAGEMENT LLC

    MANAGEMENT COMPANY OF A FUND · DE · income $0 · assets $0

    Directly controlled by ACP INC

  • ALLIED CLIMATE PARTNERS GP LLC

    INVESTMENTS FUND · DE · income $0 · assets $0

    Directly controlled by ACP INC

Related partnerships

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202433209349310763

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