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Nonprofiteer
← VERRA

Form 990 for tax year 2023

Filed by VERRA.

Totals

Total revenue
$29,804,931
Total expenses
$39,109,955
Contributions and grants received
$16,137
Grants paid
$0
Program service revenue
$28,157,921
Investment income
$1,630,873
Other revenue
$0
Total assets, end of year
$47,899,270
Total liabilities, end of year
$4,536,813
Net assets or fund balances, end of year
$43,362,457
Program services expenses (Part IX)
$26,454,507
Management and general expenses
$12,655,448
Fundraising expenses
$0
Program service expenses (Part III)
$26,454,507

Program services were 67.6% 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

    $16,137

  • 2a · Program service revenue: VCS, CCB, and SD VISta levies

    total $23,349,289 · related or exempt $23,349,289

  • 2b · Program service revenue: Registry income

    total $3,455,467 · related or exempt $3,455,467

  • 2c · Program service revenue: Ver., Val, and acct. opening fees

    total $1,222,334 · related or exempt $1,222,334

  • 2d · Program service revenue: Methodology approval processing

    total $111,500 · related or exempt $111,500

  • 2e · Program service revenue: Plastics project revenue

    total $15,000 · related or exempt $15,000

  • 2f · All other program service revenue

    total $4,331 · related or exempt $4,331

  • 3 · Investment income

    total $1,630,873 · excluded $1,630,873

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $2,491,594 · program services $1,927,903 · management and general $563,691

  • 6 · Compensation of disqualified persons

    total $426,983 · program services $426,983

  • 7 · Other salaries and wages

    total $13,816,300 · program services $10,686,579 · management and general $3,129,721

  • 8 · Pension plan contributions

    total $568,045 · program services $437,090 · management and general $130,955

  • 9 · Other employee benefits

    total $3,221,945 · program services $2,481,500 · management and general $740,445

  • 10 · Payroll taxes

    total $657,411 · program services $506,471 · management and general $150,940

  • 11b · Fees: legal

    total $2,813,406 · program services $586,182 · management and general $2,227,224

  • 11c · Fees: accounting

    total $47,894 · management and general $47,894

  • 11g · Fees: other

    total $8,599,224 · program services $7,204,575 · management and general $1,394,649

  • 13 · Office expenses

    total $2,551,367 · program services $570,993 · management and general $1,980,374

  • 14 · Information technology

    total $411,369 · program services $350,660 · management and general $60,709

  • 16 · Occupancy

    total $281,945 · program services $58,744 · management and general $223,201

  • 17 · Travel

    total $1,236,666 · program services $777,622 · management and general $459,044

  • 19 · Conferences, conventions and meetings

    total $898,819 · program services $290,529 · management and general $608,290

  • 22 · Depreciation, depletion and amortization

    total $306,431 · management and general $306,431

  • 23 · Insurance

    total $188,597 · program services $39,295 · management and general $149,302

  • 24a · Other expenses: Subscriptions & dues

    total $517,734 · program services $109,381 · management and general $408,353

  • 24b · Other expenses: Credit losses provision

    total $74,225 · management and general $74,225

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $651,626 · end of year $681,293

  • 2 · Savings and temporary cash investments

    beginning of year $52,761,284 · end of year $41,791,100

  • 4 · Accounts receivable

    beginning of year $2,203,476 · end of year $2,586,364

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,146,673 · end of year $2,225,250

  • 10a · Land, buildings and equipment: cost or other basis

    $1,458,148

  • 10b · Land, buildings and equipment: accumulated depreciation

    $1,128,610

  • 10c · Land, buildings and equipment, net

    beginning of year $473,904 · end of year $329,538

  • 15 · Other assets

    beginning of year $532,926 · end of year $285,725

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,498,371 · end of year $4,226,287

  • 25 · Other liabilities

    beginning of year $604,037 · end of year $310,526

  • 27 · Net assets without donor restrictions

    beginning of year $52,667,481 · end of year $43,362,457

Mission and programs · 2023

Mission

Verra develops and manages standards that help countries, the private sector and civil society achieve their sustainable development and climate action goals.

Activities or mission (Part I)

Verra sets the world's leading standards for climate action and sustainable development.

  • VCS Program: The Verified Carbon Standard (VCS) Program certifies projects that reduce and remove greenhouse gas emissions. Projects undergo a rigorous development and assessment process before applying for registration with the VCS Program. Projects are issued with verified carbon units which they can use to finance their activities.

    Expenses $25,509,169 · Revenue $25,131,276

  • CCB Program: The Climate Community and Biodiversity (CCB) Standards program certifies projects that simultaneously address climate change, support local communities and smallholders, and conserve biodiversity. The CCB Standards are often used in conjunction with VCS Program-certified land management projects, including reforestation, afforestation, vegetation, forest restoration, agroforestry and sustainable agriculture projects.

    Expenses $361,661 · Revenue $2,640,082

  • SDVISta Program: The Sustainable Development Verified Impact Standard (SD VISta) is a framework for assessing and reporting on the sustainable development benefits of project-based activities. It helps unlock new sources of finance to support and scale up high-impact efforts that align with the United Nations' Sustainable Development Goals (SDGs).

    Expenses $220,448 · Revenue $366,732

  • Expenses $363,229 · Revenue $19,831

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

Listed in Part VII

  • Kenneth Markowitz

    Chair (Mar-Dec)

    Total calculated
    $0
    Hours/week
    4

  • Tao Yun

    Chair (Jan-Mar)

    Total calculated
    $0
    Hours/week
    4

  • Anne-Marie Warris

    Vice Chair (Jan-Mar)

    Total calculated
    $0
    Hours/week
    2

  • Jim Cannon

    Vice Chair (Mar-Dec)

    Total calculated
    $0
    Hours/week
    2

  • Dirk Forrister

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mark Kenber

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Kelley Kizzier

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Julie McLaughlin

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Ken Newcombe

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Anshari Rahman

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Mandy Rambharos

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • Marc Stuart

    Board Member

    Total calculated
    $0
    Hours/week
    1

  • David Antonioli

    Chief Executive Officer (thru Jun)

    Total calculated
    $547,235
    From this org
    $475,183
    From related orgs
    $0
    Other
    $72,052
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $325,652
    Bonus
    $0
    Other
    $149,531
    Deferred
    $34,313
    Nontaxable benefits
    $37,739
    Filer's total
    $547,235

  • William Ferretti

    Chief Operating & Financial Officer

    Total calculated
    $378,970
    From this org
    $320,731
    From related orgs
    $0
    Other
    $58,239
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $252,139
    Bonus
    $24,605
    Other
    $43,987
    Deferred
    $26,168
    Nontaxable benefits
    $32,071
    Filer's total
    $378,970

  • Judith Simon

    President and Interim CEO

    Total calculated
    $400,383
    From this org
    $337,453
    From related orgs
    $0
    Other
    $62,930
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $296,953
    Bonus
    $40,000
    Other
    $500
    Deferred
    $28,500
    Nontaxable benefits
    $34,430
    Filer's total
    $400,383

  • Toby Janson-Smith

    Chief Innovation Officer

    Total calculated
    $353,054
    From this org
    $286,010
    From related orgs
    $0
    Other
    $67,044
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $261,319
    Bonus
    $24,691
    Other
    $0
    Deferred
    $26,540
    Nontaxable benefits
    $40,504
    Filer's total
    $353,054

  • Robin Rix

    Chief Legal Officer

    Total calculated
    $310,108
    From this org
    $289,626
    From related orgs
    $0
    Other
    $20,482
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $267,380
    Bonus
    $22,246
    Other
    $0
    Deferred
    $13,324
    Nontaxable benefits
    $7,158
    Filer's total
    $310,108

  • Hillary Navarro

    Chief Communications Officer

    Total calculated
    $216,830
    From this org
    $184,168
    From related orgs
    $0
    Other
    $32,662
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $153,668
    Bonus
    $30,000
    Other
    $500
    Deferred
    $14,385
    Nontaxable benefits
    $18,277
    Filer's total
    $216,830

  • Farhan Ahmed

    Chief Program Officer

    Total calculated
    $285,014
    From this org
    $233,167
    From related orgs
    $0
    Other
    $51,847
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $202,667
    Bonus
    $30,000
    Other
    $500
    Deferred
    $15,514
    Nontaxable benefits
    $36,333
    Filer's total
    $285,014

  • Jerry Seager

    Sr. Director, VCS Program Management

    Total calculated
    $282,164
    From this org
    $244,628
    From related orgs
    $0
    Other
    $37,536
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,211
    Bonus
    $21,417
    Other
    $0
    Deferred
    $22,379
    Nontaxable benefits
    $15,157
    Filer's total
    $282,164

  • Julianne J Baroody

    Sr. Dir., Forest Carbon Innovation

    Total calculated
    $248,148
    From this org
    $208,670
    From related orgs
    $0
    Other
    $39,478
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,394
    Bonus
    $17,276
    Other
    $0
    Deferred
    $19,313
    Nontaxable benefits
    $20,165
    Filer's total
    $248,148

  • Benktesh Sharma

    Sr. Director, Technology Solutions

    Total calculated
    $258,668
    From this org
    $210,839
    From related orgs
    $0
    Other
    $47,829
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,156
    Bonus
    $17,683
    Other
    $0
    Deferred
    $19,313
    Nontaxable benefits
    $28,516
    Filer's total
    $258,668

  • Barbara A Davis

    Director of Technology Management

    Total calculated
    $225,209
    From this org
    $169,924
    From related orgs
    $0
    Other
    $55,285
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,549
    Bonus
    $1,375
    Other
    $0
    Deferred
    $17,228
    Nontaxable benefits
    $38,057
    Filer's total
    $225,209

  • Ben B Carrier

    Legal Director

    Total calculated
    $169,807
    From this org
    $145,806
    From related orgs
    $0
    Other
    $24,001
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,592
    Bonus
    $5,214
    Other
    $0
    Deferred
    $13,923
    Nontaxable benefits
    $10,078
    Filer's total
    $169,807

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 · Written employment contract
  • 3 · Approval by the board or compensation committee
  • 4a · Severance or change-of-control payment

Answered no

  • 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

The filer's explanations (Part III)

Part I, Line 4a
David Antonioli, Chief Executive Officer through June, received severance compensation in the amount of $149,531 in calendar year 2023.

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.

Provenance

Return type
form_990
Tax year
2023
Filed
1 July 2024
IRS schema version
2023v5.1
Source object
202441839349300234

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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