Nonprofit · EIN 38-3705448
PROJECT DRAWDOWN
Tax-exempt · SAINT PAUL, MN 55101
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2025 | 990 | $5,751,670 | $5,560,012 | $191,658 | $8,771,591 | $372,623 | $8,398,968 |
| December 31, 2024 | 990 | $8,269,185 | $4,479,322 | $3,789,863 | $8,543,786 | $336,476 | $8,207,310 |
| December 31, 2023 | 990 | $5,275,472 | $5,081,083 | $194,389 | $4,623,077 | $205,607 | $4,417,470 |
Financial details: 990 for the year ended December 31, 2025
Revenue
- Contributions, gifts and grants
- $5,440,679
- Program service revenue
- $84,164
- Investment income
- $202,947
- Royalties
- $23,362
- Net gain from sales of assets
- -$1,021
- Other revenue
- $23,880
Expenses
- Grants and similar amounts paid
- $100
- Compensation of officers, directors and key employees
- $1,233,452
- Other salaries and wages
- $2,215,797
- Salaries, compensation and benefits (total)
- $4,185,331
- Professional fundraising fees
- $0
- Accounting fees
- $45,114
- Travel
- $101,018
- Depreciation
- $16,193
- Program services (functional)
- $4,427,893
- Management and general (functional)
- $699,290
- Fundraising (functional)
- $432,829
Balance sheet and other
- Total assets, start of year
- $8,543,786
- Total assets, end of year
- $8,771,591
- Total liabilities, end of year
- $372,623
- Net assets, end of year
- $8,398,968
- Land, buildings and equipment
- $8,307
- Publicly traded securities
- $44,062
- Net assets without donor restrictions
- $4,753,114
- Net assets with donor restrictions
- $3,645,854
- Gross receipts
- $5,753,215
- Employees
- 28
- Volunteers
- 7
- Year formed
- 2005
- State of legal domicile
- DE
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2025, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JONATHAN FOLEY | EXECUTIVE DI Officer | 40 | $419,529 | $57,096 |
| ELIZABETH BAGLEY | MANAGING DIR Officer | 40 | $228,128 | $51,073 |
| TOOD REUBOLD | MARKETING DI Key employee | 40 | $195,201 | $52,950 |
| RESHMA PATTNI | FINANCE DIRE Officer | 40 | $174,347 | $46,062 |
| MATTHEW SCOTT | ENGAGEMENT D Key employee | 40 | $170,431 | $19,002 |
| STEPHAN NICOLEAU | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| JENNIFER CALDWELL | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| PEGGY LIU | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| ANGELA MWANZA | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| BRADLEY PALMER | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| LAURA TURNER SEYDEL | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| LOLA WOETZEL | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
990 for the year ended December 31, 2024: 12 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JONATHAN FOLEY | EXECUTIVE DI Officer | 40 | $417,968 | $60,392 |
| ELIZABETH BAGLEY | MANAGING DIR Officer | 40 | $223,431 | $46,410 |
| TOOD REUBOLD | MARKETING DI Key employee | 40 | $185,964 | $56,064 |
| RESHMA PATTNI | FINANCE DIRE Officer | 40 | $151,020 | $42,016 |
| MATTHEW SCOTT | ENGAGEMENT D Key employee | 40 | $164,648 | $18,489 |
| STEPHAN NICOLEAU | CHAIR Trustee or director, Officer | 1 | $0 | $0 |
| JENNIFER CALDWELL | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
| PEGGY LIU | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| ANGELA MWANZA | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| BRADLEY PALMER | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| LAURA TURNER SEYDEL | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
| LOLA WOETZEL | DIRECTOR Trustee or director | 0.5 | $0 | $0 |
990 for the year ended December 31, 2023: 15 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JONATHAN FOLEY | Executive Dir. Officer | 40 | $423,932 |
| ELIZABETH BAGLEY | MANAGING DIR. Officer | 40 | $217,647 |
| TODD REUBOLD | MARKETING DIR Officer | 40 | $183,780 |
| JAMIE ALEXANDER | DRAWDOWN LABS Officer | 40 | $175,000 |
| MATTHEW SCOTT | Director Officer | 40 | $160,042 |
| RESHMA PATTNI | Operations Dir Officer | 40 | $159,426 |
| BRADLEY PALMER | Chairman Trustee or director | 1 | $0 |
| JENNIFER CALDWELL | Secretary Trustee or director | 1 | $0 |
| STEPHEN NICOLEAU | President Trustee or director | 1 | $0 |
| JONATHAN WOETZAL | Director Trustee or director | 1 | $0 |
| LAURA SEYDEL | Director Trustee or director | 1 | $0 |
| ANGELA MWANZA | Director Trustee or director | 0 | $0 |
| PEGGY LIU | Director Trustee or director | 1 | $0 |
| KRISTALL LAURSEN | DEVELOPMENT DIR Officer | 40 | $0 |
| KRISTEN PATTERSON | DRAWDWN LIFT Officer | 40 | $0 |
Address and contacts
- Address (IRS master file)
- 428 MINNESOTA ST STE 500, SAINT PAUL, MN 55101-2666
- Principal officer (990 for 2025)
- JONATHAN FOLEY, 428 MINNESOTA ST STE 500, SAINT PAUL, MN 55101
- Signed the 990
- JONATHAN FOLEY, EXECUTIVE DIRECTOR
- Phone
- (651) 243-3116
- Website
- WWW.DRAWDOWN.ORG
- Return prepared by
- ALTRUIC ADVISORS CPAS
Mission
PROJECT DRAWDOWN'S MISSION IS TO DRIVE MEANINGFUL CLIMATE ACTION BY ADVANCING SCIENCE-BASED SOLUTIONS AND STRATEGIES. PROJECT DRAWDOWN'S WORK IS FOCUSED ON THREE PILLARS: SCIENCE - ADVANCING SCIENCE-BASED CLIMATE SOLUTIONS AND STRATEGIES; STAKEHOLDERS - ENGAGING KEY STAKEHOLDERS AND EMPOWERING BOLD CLIMATE LEADERSHIP; AND STORIES - TELLING HUMAN STORIES OF SOLUTIONS IN ACTION.
Program accomplishments
- SCIENCE: THE DRAWDOWN SCIENCE TEAM GENERATES AND SHARES SCIENCE-BASED INSIGHTS AND TOOLS TO ENABLE THOSE WITH THE CAPACITY TO IMPLEMENT CLIMATE SOLUTIONS TO DO SO. THE ORGANIZATION CONDUCTS CUTTING-EDGE RESEARCH TO IDENTIFY THE BEST POSSIBLE CLIMATE SOLUTIONS AND DESIGN THE MOST EFFECTIVE STRATEGIES TO BRING THEM TO SCALE.Expenses $2,937,370 · revenue $55,548
- COMMUNICATIONS: OUR RIGOROUS, CUTTING-EDGE RESEARCH IDENTIFIES THE BEST POSSIBLE CLIMATE SOLUTIONS AND DESIGNS THE MOST EFFECTIVE STRATEGIES TO BRING THEM TO SCALE. THIS PROGRAM INCLUDES THE MARKETING AND COMMUNICATIONS TEAM, WHICH SUPPORTS THE ORGANIZATION'S PEOPLE AND PROGRAMS IN EXPANDING ITS REACH, INFLUENCE, AND IMPACT AMONG TARGET AUDIENCES. THE ORGANIZATION SHARES FINDINGS WITH THE WORLD THROUGH EFFECTIVE SCIENCE COMMUNICATION, MARKETING CAMPAIGNS, AND MEDIA PARTNERSHIPS.Expenses $345,034 · revenue $6,733
- DRAWDOWN LABS: PROJECT DRAWDOWN USES SCIENCE TO INFORM, INSPIRE, AND EMPOWER KEY STAKEHOLDERS AND EMERGING CLIMATE LEADERS - INCLUDING POLICYMAKERS, COMMUNITY LEADERS, PHILANTHROPISTS, INVESTORS, BUSINESS LEADERS, AND OTHERS - TO TAKE BOLD ACTION AND BRING THE MOST EFFECTIVE SOLUTIONS TO THE WORLD. WE HELP RAPIDLY ACCELERATE GLOBAL CLIMATE INVESTMENT BY SHOWING THE WORLD WHAT IS POSSIBLE AND MOST EFFECTIVE IN ADDRESSING CLIMATE CHANGE. THE DRAWDOWN CAPITAL COALITION IS A PROGRAM NESTED WITHIN DRAWDOWN LABS.Expenses $770,085 · revenue $14,308
- ADDITIONALLY, DRAWDOWN STORIES CONTRIBUTED TO OUR 2025 ACCOMPLISHMENTS. DRAWDOWN STORIES: THE ORGANIZATION LEVERAGES STORYTELLING AND ENGAGEMENT AS A BRIDGE BETWEEN SCIENCE-BASED CLIMATE SOLUTIONS AND EVERYDAY PEOPLE LOOKING TO FIND THEIR ROLES IN STOPPING CLIMATE CHANGE. DRAWDOWN STORIES INCLUDES DRAWDOWN'S NEIGHBORHOOD AND THE GLOBAL SOLUTIONS DIARY.Expenses $375,404 · grants $100 · revenue $7,575
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | 990 on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 38-3705448
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2006
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Education (B99)
- Assets (IRS master file)
- $8,771,591
- Income (IRS master file)
- $5,753,215
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2025 | $5,751,670 | $5,560,012 | $8,771,591 | XML |
| 990 | December 2024 | $8,269,185 | $4,479,322 | $8,543,786 | XML |
| 990 | December 2023 | $5,275,472 | $5,081,083 | $4,623,077 | XML |
| 990 | December 2022 | $3,658,202 | $4,771,219 | $3,757,123 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 38-3705448).
Questions about PROJECT DRAWDOWN
- What is the EIN of PROJECT DRAWDOWN?
- The employer identification number (EIN) of PROJECT DRAWDOWN is 38-3705448.
- Is PROJECT DRAWDOWN tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2006.
- Are donations to PROJECT DRAWDOWN tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does PROJECT DRAWDOWN file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PROJECT DRAWDOWN due?
- The return for tax year 2026 (the year ending December 31, 2026) is due May 17, 2027. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PROJECT DRAWDOWN last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2025.
- Who is the principal officer of PROJECT DRAWDOWN?
- The 990 for the year ended December 31, 2025 names JONATHAN FOLEY.
- Who are the officers and directors of PROJECT DRAWDOWN?
- The 990 for the year ended December 31, 2025 lists 12 people; 5 received compensation from the organization, the highest $419,529 (JONATHAN FOLEY, EXECUTIVE DI).
- How much revenue does PROJECT DRAWDOWN have?
- On its 990 for the year ended December 31, 2025 it reported revenue of $5,751,670, expenses of $5,560,012 and total assets of $8,771,591 at year end.
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