2025-01-29T16:06:03-06:00 2024-06-30 946214841 ARMANINO LLP 11766 WILSHIRE BLVD NINTH FL LOS ANGELES CA 90025 990 2023-07-01 680477330 CLIMATE ACTION RESERVE CLIM 2138911444 818 WEST 7TH STREET 202 LOS ANGELES CA 90017 CRAIG EBERT PRESIDENT 2138911444 2025-01-28 1 1 JENNIFER M VACHA P01251998 3104784148 2025-01-28 2023 2025-03-06 01:10:19Z CRAIG EBERT 818 WEST 7TH STREET 202 LOS ANGELES CA 90017 5306158 0 X WWW.CLIMATEACTIONRESERVE.ORG X 2001 CA TO DEVELOP, PROMOTE & SUPPORT INNOVATIVE, CREDIBLE MARKET-BASED CLIMATE (CON'T ON SCHEDULE O)CHANGE SOLUTIONS THAT BENEFIT ECONOMIES, ECOSYSTEMS AND SOCIETY. THE CLIMATE ACTION RESERVE WAS APPROVED BY THE CALIFORNIA AIR RESOURCES BOARD (ARB) IN 2012 TO SERVE AS AN OFFSET PROJECT REGISTRY IN ACCORDANCE WITH THE REGULATIONS IMPLEMENTING THE CALIFORNIA CAP-AND-TRADE PROGRAM. THE RESERVE HAS HAD MANY OF THE OFFSET PROJECTS IN ITS SYSTEM RECOGNIZED BY THE ARB FOR REWARDING EARLY ACTIONS TO REDUCE GREENHOUSE GAS EMISSIONS. FOUR RESERVE OFFSET PROTOCOLS HAVE BEEN ADOPTED AND TWO OTHERS ADAPTED BY ARB FOR USE IN THE COMPLIANCE OFFSET SYSTEM UNDER THE CAP-AND-TRADE PROGRAM. 10 10 22 10 0 0 150885 106513 4568451 5085867 55254 98972 18832 14806 4793422 5306158 0 0 0 0 2710970 3150185 0 0 7267 1955357 2443252 4666327 5593437 127095 -287279 11250067 31450902 7877902 28366015 3372165 3084887 X TO DEVELOP, PROMOTE AND SUPPORT INNOVATIVE, CREDIBLE MARKET-BASED CLIMATE CHANGE SOLUTIONS THAT BENEFIT ECONOMIES, ECOSYSTEMS AND SOCIETY. THE CLIMATE ACTION RESERVE WAS APPROVED BY THE CALIFORNIA AIR RESOURCES BOARD (ARB) IN 2012 TO SERVE AS AN OFFSET (SEE SCH O) PROJECT REGISTRY IN ACCORDANCE WITH THE REGULATIONS IMPLEMENTING THE CALIFORNIA CAP-AND-TRADE PROGRAM. THE RESERVE HAS HAD MANY OF THE OFFSET PROJECTS IN ITS SYSTEM RECOGNIZED BY THE ARB FOR REWARDING EARLY ACTIONS TO REDUCE GREENHOUSE GAS EMISSIONS. FOUR RESERVE OFFSET PROTOCOLS HAVE BEEN ADOPTED AND TWO OTHERS ADAPTED BY ARB FOR USE IN THE COMPLIANCE OFFSET SYSTEM UNDER THE CAP-AND-TRADE PROGRAM. 0 0 3906535 3585878 THE CLIMATE ACTION RESERVE IS THE MOST TRUSTED, EFFICIENT, AND EXPERIENCED OFFSET REGISTRY FOR GLOBAL CARBON MARKETS. A PIONEER IN CARBON ACCOUNTING, THE RESERVE PROMOTES AND FOSTERS THE REDUCTION OF GREENHOUSE GAS (GHG) EMISSIONS THROUGH CREDIBLE MARKET-BASED POLICIES AND SOLUTIONS. AS A HIGH QUALITY OFFSET REGISTRY FOR VOLUNTARY CARBON MARKETS, IT ESTABLISHES RIGOROUS STANDARDS AND ISSUES CARBON CREDITS UNDER THOSE STANDARDS. THE RESERVE ALSO SUPPORTS COMPLIANCE CARBON MARKETS AND SERVES AS AN APPROVED OFFSET PROJECT REGISTRY FOR THE STATE OF CALIFORNIA'S CAP-AND-TRADE PROGRAM. THE RESERVE IS AN ENVIRONMENTAL NONPROFIT ORGANIZATION HEADQUARTERED IN LOS ANGELES, CALIFORNIA WITH SATELLITE OFFICES AROUND THE WORLD. FOR MORE INFORMATION, PLEASE VISIT WWW.CLIMATEACTIONRESERVE.ORG. 606256 1393026 THE NORTH AMERICAN CARBON WORLD (NACW) CONFERENCE REPRESENTS THE LARGEST NORTH AMERICAN EVENT ADDRESSING THE MOST PRESSING ISSUES IN CLIMATE POLICY AND CARBON PRICING AND FEATURES COMPREHENSIVE AND UP-TO-DATE INFORMATION, KEY THOUGHT LEADERS ADVANCING INNOVATIVE CLIMATE SOLUTIONS, AND THE BEST NETWORKING OPPORTUNITIES WITH COLLEAGUES IN THE BUSINESS, GOVERNMENT, NONPROFIT, AND ACADEMIC SECTORS. NACW 2024 EXPLORED SUBNATIONAL AND INTERNATIONAL CLIMATE POLICY, CARBON PRICING, CLIMATE FINANCE, LCFS AND ROBUST CLIMATE SOLUTIONS. FOR ALL OF THESE REASONS AND MORE, NACW HAS LONG BEEN CONSIDERED THE MUST-ATTEND EVENT OF THE YEAR FOR CLIMATE POLICY AND CARBON PRICING. 113249 106963 IN FY2024, THE RESERVE CONTINUED TO ENGAGE IN INTERNATIONAL INITIATIVES, INCLUDING THE DEVELOPMENT OF INTERNATIONAL EMISSIONS REDUCTION STANDARDS, COLLABORATING WITH PARTNERS AND SERVING AS AN EXPERT CONSULTANT FOR GOVERNMENTS AND OTHERS. IN FY2023, THE RESERVE CONTINUED TO ACCEPT FORESTRY PROJECTS IN RURAL MEXICO TO GROW ITS MEXICO FOREST PROJECT PROTOCOL, INCLUDING THE DEVELOPMENT OF ITS VERIFICATION PROGRAM AND TRAINING VERIFIERS. THE RESERVE ALSO CONTINUED TO ACCEPT PROJECTS UNDER RELEVANT OFFSET PROTOCOLS IN CANADA. 4626040 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 3 0 1 22 1 0 0 0 0 0 1 1 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X RAMON LEE 2135420289 818 WEST 7TH STREET 202 LOS ANGELES CA 90017 LINDA ADAMS BOARD CHAIR 1.00 X X 0 0 0 PETER M MILLER SECRETARY 1.00 X X 0 0 0 JAN SCHORI AUDIT COMMITTEE CHAIR 1.00 X 0 0 0 STEVE CORNELI NOMINATING COMMITTEE CHAIR 1.00 X 0 0 0 TEVEIA BARNES BOARD MEMBER 1.00 X 0 0 0 PETER LIU BOARD MEMBER 1.00 X 0 0 0 HEATHER O'NEILL BOARD MEMBER 1.00 X 0 0 0 EDUARDO PIQUERO BOARD MEMBER 1.00 X 0 0 0 TIM PROFETA BOARD MEMBER 1.00 X 0 0 0 KATIE SULLIVAN BOARD MEMBER 1.00 X 0 0 0 CRAIG EBERT PRESIDENT 36.00 X 263490 0 36426 RAMON LEE CHIEF FINANCIAL CONTROLLER 36.00 X 149173 0 11875 CHRISTOPHER LEE DIR. OF OPERATIONS 36.00 X 132806 0 22743 JENNIFER WEISS VP OF COMMUNICATIONS 36.00 X 179462 0 37624 KRISTEN GORGUINPOUR VP OF PROGRAMS 36.00 X 175092 0 5212 AMY PORTILLO-KESSLER DIRECTOR OF LATIN AMERICA 36.00 X 140216 0 18527 JONATHAN REMUCAL DIR. OF NATURE BASED SOLUTIONS 36.00 X 123470 0 4316 RHEY LEE SNR. COMMUMICATIONS MGR 36.00 X 108475 0 14766 1272184 0 151489 9 0 1 0 HILTON HOTEL 333 OFARRELL STREET SAN FRANCISCO CA 94102 FACILITIES AND CATERING PROVIDER 530735 GLOBALIZATION PARTNERS 175 FEDERAL ST 17 BOSTON MA 02110 CONSULTING 191465 DOGWOOD SPRINGS FORESTRY 3461 BURNETTE WAY UKIAH CA 95482 CONSULTING 103360 3 106513 106513 REGISTRY INCOME 900099 3474145 3474145 CONFERENCE INCOME 900099 1353159 1353159 CONTRACT INCOME 900099 131250 131250 WORKSHOP INCOME 900099 101745 101745 DELEGATION STUDY TRIP 900099 25568 25568 5085867 98972 98972 OTHER INCOME 900099 14806 14806 14806 5306158 5085867 0 113778 624330 493346 128613 2371 1923637 1524219 396020 3398 75078 59474 15457 147 347707 275448 71585 674 179433 142090 36945 398 1724 410 1314 54127 54127 271749 271749 28 28 104986 26444 78542 91555 17309 74246 56465 44715 11626 124 139304 97235 42069 627512 627512 17232 17232 69796 55270 14371 155 REGISTRY FEE 746713 746713 MISCELLANEOUS EXPENSE 115333 105630 9703 EQUIPMENT RENTAL 102729 102729 DUES AND SUBSCRIPTIONS 43999 35719 8280 5593437 4626040 960130 7267 718617 391499 2066257 711412 8000 451170 809942 390028 66026 103258 150119 130257 21467 19862 1433615 7559758 27950058 11250067 31450902 344054 440422 7533848 27925593 7877902 28366015 X 3372165 3084887 3372165 3084887 11250067 31450902 X -287279 1 X 0 1 X 1 0 X 140963 539746 123597 150885 106513 1061704 4884122 3348812 4406500 4568451 5085867 22293752 5025085 3888558 4530097 4719336 5192380 23355456 0 413892 2141747 1189693 2066 1002384 4749782 413892 2141747 1189693 2066 1002384 4749782 18605674 4259 633 662 55254 98972 159780 4259 633 662 55254 98972 159780 18832 14806 33638 5029344 3889191 4530759 4793422 5306158 23548874 0.79010 0.76190 0.00680 0.00310 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 150119 130257 19862 19862 SECURITY DEPOSITS 27867 CLIMATE RESERVE TONNES FOREST BUFFER POOL ASSET 27792875 RIGHT OF USE ASSETS 129316 27950058 CLIMATE RESERVE TONNES FOREST BUFFER POOL LIABILITY 27792875 LEASE LIABILITY 132718 27925593 4597650 38205 38205 4559445 746713 746713 5306158 4884929 38205 38205 4846724 746713 746713 5593437 PART XI, LINE 4B - OTHER ADJUSTMENTS: REGISTRY FEE 746,713. PART XII, LINE 4B - OTHER ADJUSTMENTS: REGISTRY FEE 746,713. FORM 990, SCH D, PARTS IX AND X, LINE 2 THE ORGANIZATION ADMINISTERS A BUFFER POOL THAT SERVES AS A HOLDING ACCOUNT FOR PROJECT CRTS. IF A PROJECT EXPERIENCES AN UNAVOIDABLE RELEASE OF CARBON, THE BUFFER POOL HOLDS CRTS THAT SERVE AS CREDITS AGAINST THAT RELEASE INTO THE ATMOSPHERE TO ENSURE THAT THE OVERALL ENVIRONMENTAL INTEGRITY OF ALL PROJECTS IS PROTECTED. IN CONJUNCTION WITH ISSUING CRTS TO FOREST, GRASSLAND AND MEXICO FOREST PROJECTS, THE ORGANIZATION RETAINS A PERCENTAGE OF THESE CREDITS FOR REVERSALS. THESE NON-CASH TRANSACTIONS ARE RECORDED AS AN ASSET AND A LIABILITY IN THE STATEMENT OF FINANCIAL POSITION. AT JUNE 30, 2024 THE ORGANIZATION HELD 1,608,733 CRTS, WHICH WERE VALUED AT FAIR MARKET VALUE AMONG THREE CATEGORIES OF PRICE INPUTS AVAILABLE. MEXICO 0 1 PROGRAM SERVICES INTERNATIONAL INITIATIVES 112280 CANADA 0 0 PROGRAM SERVICES INTERNATIONAL INITIATIVES 386 0 1 0 0 0 1 112666 0 112666 0 0 0 0 0 0 X X X X 0 0 0 0 0 0 0 0 0 CRAIG EBERT PRESIDENT 263490 0 0 0 0 0 2400 0 34026 0 299916 0 0 0 JENNIFER WEISS VP OF COMMUNICATIONS 179462 0 0 0 0 0 3689 0 33935 0 217086 0 0 0 KRISTEN GORGUINPOUR VP OF PROGRAMS 175092 0 0 0 0 0 4034 0 1178 0 180304 0 0 0 RAMON LEE CHIEF FINANCIAL CONTROLLER 149173 0 0 0 0 0 3775 0 8100 0 161048 0 0 0 AMY PORTILLO-KESSLER DIRECTOR OF LATIN AMERICA 140216 0 0 0 0 0 3664 0 14863 0 158743 0 0 0 CHRISTOPHER LEE DIR. OF OPERATIONS 132806 0 0 0 0 0 3641 0 19102 0 155549 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B LINE 11A EXPLANATION - IT IS THE POLICY OF CLIMATE ACTION RESERVE THAT THE AUDIT COMMITTEE AND THEN THE FULL BOARD OF DIRECTORS REVIEW THE FORM 990 BEFORE IT IS FILED WITH THE IRS. A BOARD RESOLUTION IS NOT REQUIRED IN ORDER FOR THE FORM 990 TO BE FILED. THE MEANS OF DELIVERY SHALL BE VIA EMAIL TO EACH AUDIT COMMITTEE MEMBER. FORM 990, PART VI, SECTION B, LINE 12C THE CLIMATE ACTION RESERVE HAS SCHEDULED MEETINGS TO REVIEW POLICY AND PROCEDURES AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE POLICIES DURING THE REVIEW PROCESS. THE RESERVE HAS FULL BOARD OF DIRECTORS MEETINGS, AUDIT COMMITTEE MEETINGS, NOMINATING COMMITTEE MEETINGS AND EXECUTIVE COMMITTEE MEETINGS. DURING THE REPORTING PERIOD, THE EXECUTIVE COMMITTEE GATHERED FOUR TIMES TO REVIEW POLICY AND PROCEDURES TO ENFORCE COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15 AT SCHEDULED MEETINGS, THE BOARD OF DIRECTORS REVIEWS AND MAKES DECISIONS ON COMPENSATION FOR THE PRESIDENT AND VP STAFF USING COMPENSATION INFORMATION GATHERED FROM THE FORM 990'S OF OTHER ORGANIZATIONS, EMPLOYMENT CONTRACTS, AND LOCAL COMPENSATION SURVEYS. THE PROCESS IS DONE IN CLOSED SESSION AND DECISIONS ARE FORWARDED TO THE PRESIDENT BY ELECTRONIC MAIL, THEN REVIEWED BY THE VP OF OPERATIONS, AND FINALLY FORWARDED TO THE CONTROLLER FOR PROCESSING. THIS DELIBERATION IS ALSO RECORDED IN THE CORPORATE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 PUBLIC DOCUMENTS AS DETERMINED BY THE ORGANIZATION ARE AVAILABLE UPON WRITTEN REQUEST. COPIES OF THE ORGANIZATION'S FINANCIAL STATEMENTS AND FORMS 990 ARE ALSO MADE AVAILABLE BY EMAIL REQUEST THROUGH A LINK ON THE ORGANIZATION'S WEBSITE. FORM 990, PART XI, LINE 9: ROUNDING 1.