2024-11-04T08:14:35-06:00 2023-12-31 WITHUMSMITHBROWN PC 1411 BROADWAY 9TH FLOOR NEW YORK NY 10018 990 2023-01-01 814308701 1ST STREET FOUNDATION INC % HELENA CRAWLEY 1STS 7185090074 215 Plymouth Street 3rd Floor BROOKLYN NY 11201 MATTHEW EBY EXECUTIVE DIRECTOR 9175022759 2024-10-31 true true CATHERINE BENDALL CPA P00521196 2127519100 2024-10-31 2023 2024-10-15 13:58:12Z MATTHEW EBY 215 Plymouth Street 3rd Floor BROOKLYN NY 11201 6893556 false X www.firststreet.org X 2016 DC to Make climate risk accessible, easy to understand and actionable for individuals, governments, and industry. 3 2 40 0 0 0 6114995 3871667 1564259 3021889 0 0 0 0 7679254 6893556 0 0 0 0 4607630 5398118 0 0 0 3292724 4443270 7900354 9841388 -221100 -2947832 3891644 2668751 1740424 3465363 2151220 -796612 X FIRST STREET FOUNDATION'S MISSION IS TO MAKE CLIMATE RISK ACCESSIBLE, EASY TO UNDERSTAND AND ACTIONABLE FOR INDIVIDUALS, GOVERNMENTS, AND INDUSTRY. false false 6468859 3021889 In 2023, the Foundation launched significant model enhancements, partnered with numerous new businesses and government agencies, and increased its reach to everyday Americans. In the first half of 2023, the Foundation expanded its Flood Model to Version 3, updating from Representative Concentration Pathways (RCP) to Shared Socioeconomic Pathways (SSP), which allows for more precise assessments based on different climate scenarios. The Foundation also expanded certain of its modeling to include multiple pathways such as SSP 2-4.5 and SSP 5-8.5. A significant update to the Flood Model included a transition from using precipitation intensity, duration, and frequency data from NOAA's Atlas 14 to the peer-reviewed First Street Foundation Precipitation Model (FSF-PM). This new model utilizes the ASOS rain gauge and PRISM precipitation data, improving the resolution and accuracy of precipitation events across the United States. The Flood Model also incorporated data from the latest CMIP6 global climate models, including more up-to-date seal-level projections and pluvial and fluvial change factors, ensuring that the Flood Model can better predict current and future flood risks. The Foundation also finalized its fourth major model in February 2023 and its fourth peril launch Wind Factor in June 2023. In July 2023, the Foundation also released an upgraded Wildfire Model with significant methodological improvements and incorporated active suppression into its calculations, dynamically adjusting fire spread rates based on factors such as terrain and distance to roads. Additionally, the calibration of fire size distributions is now done on a per-pyrome basis, leading to more accurate comparisons between historical records and modeled fire sizes. Along with the model enhancements, the Foundation updated the baseline property data, which includes new property characteristics and information from Lightbox Smart Fabric property data. This new dataset is more comprehensive and up-to-date, covering building footprints and increasing the total number of properties modeled to approximately 145.9 million, up from 143.8 million in the previous version. The Foundation released it national report "Worsening Winds" on February 27, 2023, finding 13.4 million properties will be newly exposed to hurricane winds from climate change. In February 2023, the Foundation also published a peer reviewed study in the journal Nature Climate Change that examines the potential cost of unrealized flood risk in the American real estate market, finding that flood $121-237 billion. In December 2023, the Foundation published a research paper in Nature-Communications which integrated observed historic trends of population change, along with flood risk information, to uncover climate migration trends that are occurring in many high flood risk areas across the country known as "Climate Abandonment Areas." The Foundation also finalized a partnership with CoStar and RPR, a leading real estate portal website and a leading real estate property database exclusively for agents, respectively, to have the Risk Factor data fully integrated into their platforms for all on- and off-market listings. The Foundation further expanded its integration into public-facing tools with partnerships with leading insurance providers American Family Insurance and Allstate, both in October 2023. The Foundation also partnered with several government agencies in 2023 to provide them climate risk data for internal risk analysis and policy decision-making, including Department of the Interior, Federal Housing Finance Agency, Congressional Budget Office, Consumer Finance Protection Bureau, Ginnie Mae and others. Lastly, the Foundation partnered with several financial institutions and private businesses to further communicate climate risk to citizens, industry and government. Some notable examples of these license arrangements include Bank of America, PNC Bank, Huntington Bank, Truist Bank, Lasalle Investment Management, Tishman Speyer, Wells Fargo and others. 6468859 true true false false false false false false false false true false false false true true true false false false false false false false false false false false false true false false false false false true true true false false false false true false false false false true 16 0 40 true false false false false false true true false false false false false false X 3 2 false false false false false false false true true false false true true true true true true true false false NY X HELENA CRAWLEY 6464528848 215 PLYMOUTH STREET 3RD FLOOR BROOKLYN NY 11201 MATTHEW EBY EXECUTIVE DIRECTOR 60.0 0.0 X X 389132 0 10868 EDWARD KEARNS CHIEF DATA OFFICER 60.0 0.0 X 380007 0 18290 QUINN HAWKINS CHIEF PRODUCT OFFICER 60.0 0.0 X 282495 0 14630 SARA CHADWICK HEAD OF MARKETING & COMM 60.0 0.0 X 255481 0 5496 DAN SERIPAP HEAD OF ENGINEERING 60.0 0.0 X 227753 0 23236 MICHAEL AMODEO HEAD OF DATA SCIENCE 60.0 0.0 X 215258 0 11376 HELENA CAWLEY GENERAL COUNCIL 60.0 0.0 X 176824 0 16874 PHILLIP LUNDIE TREASURER 1.0 0.0 X X 0 0 0 KEITH PARDY DIRECTOR/CHAIR 1.0 0.0 X 0 0 0 1926950 0 100770 14 false true false SPATIAL INFORMATICS GROUP 2529 YOLANDA CT PLEASANTON CA 94566 SOFTWARE ENGINEERING 863764 WORKANDCO INTERNATIONAL INC 231 FRONT ST FLOOR 5 BROOKLYN NY 112011217 SOFTWARE ENGINEERING 211500 LIGHTBOX PARENT LP 6 ARMSTRONG R4D 4TH FLOOR SHELTON CT 06484 DATA LICENSING FEES 127041 RHODIUM GROUP 5 COLUMBUS CIRCLE SUITE 1801 NEW YORK NY 10019 DATA LICENSING FEES 100444 4 3871667 3871667 SUBSCRIPTION SALES 541990 3021889 3021889 3021889 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6893556 3021889 0 0 0 0 0 798297 598893 199404 0 3862275 2432652 1429623 198115 128775 69340 200992 137935 63057 338439 234491 103948 0 91665 504 91161 124082 124082 0 0 0 779496 779496 27856 27856 168309 105278 63031 843252 758927 84325 0 268526 186051 82475 86120 59669 26451 0 24497 24497 0 0 1359228 941755 417473 110523 76577 33946 BAD DEBT 555554 555554 0 MISCELLANEOUS 4162 4162 0 9841388 6468859 3372529 0 80685 581121 0 0 1059441 200000 352894 119044 0 0 0 0 0 0 0 0 62055 0 4819405 3072419 2314969 1746986 0 0 0 0 0 0 0 0 21600 21600 3891644 2668751 215527 290388 0 0 524897 1674975 0 0 0 0 0 0 0 0 0 0 1000000 1500000 1740424 3465363 X 1091779 -796612 1059441 0 2151220 -796612 3891644 2668751 -2947832 X X false true X true false X 4550000 6942000 8458500 6114995 3871667 29937162 0 0 4550000 6942000 8458500 6114995 3871667 29937162 1813622 28123540 0 0 0 29937162 4982082 0.93942 0.92930 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 551014 449041 101973 4268391 2623378 1645013 1746986 0 RECOVERABLE GRANT 1500000 1500000 X 6893556 6893556 6893556 9841388 9841388 9841388 PART X, LINE 2: 1ST STREET FOUNDATION INC BELIEVES THAT IT HAS APPROPRIATE SUPPORT FOR ANY TAX POSITIONS TAKEN, AND AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. X X X false false false false false false false false false MATTHEW EBY EXECUTIVE DIRECTOR 389132 0 0 0 10868 400000 0 EDWARD KEARNS CHIEF DATA OFFICER 332851 47156 0 0 18290 398297 0 QUINN HAWKINS CHIEF PRODUCT OFFICER 260370 22125 0 0 14630 297125 0 SARA CHADWICK HEAD OF MARKETING & COMM 82546 172935 0 0 5496 260977 0 DAN SERIPAP HEAD OF ENGINEERING 198037 29716 0 0 23236 250989 0 MICHAEL AMODEO HEAD OF DATA SCIENCE 189129 26129 0 0 11376 226634 0 HELENA CAWLEY GENERAL COUNCIL 154626 22198 0 0 16874 193698 0 Anthro Digital LLC vendor 149053 rent and utilities false SCH L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS The President and Executive of the Organization is a related party to both a company and a non-profit organization that the Organization has expense sharing agreements with. Shared expenses for rent and utilities were $149,053 for the year ended December 31, 2023. FORM 990, PART VI, SECTION B, LINE 15A: COMPARABLE SALARIES OF OTHER RELATED NON-PROFITS WERE COMPILED AND VOTED ON BY THE BOARD OF DIRECTORS WITHOUT THE EXECUTIVE DIRECTOR'S VOTE. FORM 990, PART VI, SECTION B, LINE 11: A DRAFT OF FORM 990 IS SENT TO THE BOARD OF DIRECTORS FOR REVIEW AND APPROVAL. FORM 990, PART VI, SECTION C, LINE 19: FORM 990 WILL BE AVAILABLE ONLINE AT WWW.GUIDESTAR.ORG AND WWW.ag.ny.gov. ALL DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE BOARD OF DIRECTORS OVERSIGHTS THE AUDIT. Risk Factor LLC 215 PLYMOUTH STREET 3RD FLOOR brooklyn NY 11201 851947511 licensing DE 3001358 247860 1st street SCH R PART I: On February 14, 2020, the Organization formed a wholly owned subsidiary, Risk Factor, LLC (the "Subsidiary"), as a Delaware limited liability company. The Subsidiary was formed to explore the licensing of intellectual property created by the Organization.