2020-03-27T13:45:17-05:00 2019-06-30 946214841 ARMANINO LLP 11766 WILSHIRE BLVD NINTH FL LOS ANGELES CA 90025 990 2018-07-01 680477330 CLIMATE ACTION RESERVE CLIM 2138911444 818 WEST 7TH STREET NO 710 LOS ANGELES CA 90017 CRAIG EBERT PRESIDENT 2138911444 2020-03-10 1 KATY BROWN P00650274 3104784148 38.111.205.16 2020-03-10 11:20:32 PD P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 9154AA2191762ADA9DAFEA021CD28A6E95EEC578 2018 2021-01-29 14:40:06Z CRAIG EBERT 818 WEST 7TH STREET NO 710 LOS ANGELES CA 90017 3786758 0 X WWW.CLIMATEACTIONRESERVE.ORG X 2001 CA TO DEVELOP, PROMOTE & SUPPORT INNOVATIVE, CREDIBLE MARKET-BASED CLIMATE CHANGE SOLUTIONS (SCH O) 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. 13 13 24 13 0 0 546001 212786 3546590 3563849 1712 7044 4879 3079 4099182 3786758 0 0 0 0 2392499 2403471 0 0 16089 2119589 1940888 4512088 4344359 -412906 -557601 4224995 3870030 1898477 2101113 2326518 1768917 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 2541562 2787794 THE CLIMATE ACTION RESERVE IS AN INTERNATIONAL CARBON OFFSETS PROGRAM FOCUSED ON ENSURING ENVIRONMENTAL INTEGRITY OF GHG EMISSIONS REDUCTIONS PROJECTS TO CREATE AND SUPPORT FINANCIAL AND ENVIRONMENTAL VALUE IN THE NORTH AMERICAN VOLUNTARY CARBON MARKET, THE CALIFORNIA CAP-AND-TRADE PROGRAM, AND INTERNATIONAL CAP-AND-TRADE PROGRAMS. IT DOES THIS BY ESTABLISHING HIGH-QUALITY STANDARDS FOR QUANTIFYING AND VERIFYING GHG EMISSIONS REDUCTIONS PROJECTS, OVERSEEING INDEPENDENT THIRD PARTY VERIFICATION BODIES, AND ISSUING CARBON CREDITS GENERATED FROM SUCH PROJECTS AND TRACKING THE CREDITS OVER TIME IN A TRANSPARENT, PUBLICLY-ACCESSIBLE SYSTEM. THESE STANDARDS NOT ONLY ENSURE THE ENVIRONMENTAL INTEGRITY OF USING OFFSETS, BUT THEY ALSO BRING CREDIBILITY AND EFFICIENCIES TO THE CARBON MARKET BY (SEE SCH O) CREATING A TRUSTED AND VALUED COMMODITY. 552395 748441 THE CLIMATE ACTION RESERVE IS ALSO ACTIVE IN THE DEVELOPMENT OF CLIMATE CHANGE POLICY. AS A NON-PARTISAN ORGANIZATION, THE CLIMATE ACTION RESERVE WORKS TO BRING TOGETHER THOUGHT LEADERS ON CLIMATE CHANGE, INCLUDING POLICYMAKERS, BUSINESSES, ACADEMICS AND A VARIETY OF NGOS TO ADVOCATE FOR GLOBALLY STANDARDIZED GREENHOUSE GAS REPORTING AND MEASUREMENT STANDARDS. IN 2019 THE CLIMATE ACTION RESERVE SUCCESSFULLY HOSTED THE 17TH ANNUAL NAVIGATING THE AMERICAN CARBON WORLD CONFERENCE IN LOS ANGELES. OVER 500 CLIMATE PROFESSIONALS GATHERED FOR INFORMATION, DISCUSSION AND NETWORKING TO ADVANCE MARKET-BASED SOLUTIONS TO CLIMATE CHANGE. THE CLIMATE ACTION RESERVE ALSO HOSTED SEVERAL PANEL DISCUSSIONS AT COP24 IN KATOWICE, POLAND THAT ALLOWED THE INTERNATIONAL CLIMATE COMMUNITY TO GAIN A DEEPER (SEE SCH O)UNDERSTANDING OF US SUBNATIONAL CLIMATE LEADERSHIP. 196225 27614 IN FY2019 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 FY2019 THE RESERVE CONTINUED TO ACCEPT FORESTRY PROJECTS IN RURAL MEXICO UNDER ITS MEXICO FOREST PROJECT PROTOCOL, INCLUDING THE DEVELOPMENT OF ITS VERIFICATION PROGRAM AND TRAINING VERIFIERS. THE RESERVE ALSO BEGAN EXPANSION INTO CANADA INITIATING THE DEVELOPMENT OF A GRASSLAND PROJECT PROTOCOL. 3290182 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 7 0 1 24 1 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X X GILLIAN CALOF 2135420281 818 WEST 7TH STREET NO 710 LOS ANGELES CA 90017 LINDA ADAMS BOARD CHAIR 1.00 X X 0 0 0 GARY GERO BOARD VICE CHAIR 1.00 X X 0 0 0 PETER M MILLER BOARD SECRETARY 1.00 X X 0 0 0 JEFFREY KIGHTLINGER BOARD TREASURER 1.00 X X 0 0 0 JAN SCHORI AUDIT COMMITTEE CHAIR 1.00 X 0 0 0 STEVE CORNELI BOARD MEMBER 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 BETSY MOLER BOARD MEMBER 1.00 X 0 0 0 HEATHER O'NEILL BOARD MEMBER 1.00 X 0 0 0 TIM PROFETA BOARD MEMBER 1.00 X 0 0 0 DR STEPHAN SCHWARTZMAN BOARD MEMBER 1.00 X 0 0 0 KATIE SULLIVAN BOARD MEMBER 1.00 X 0 0 0 CRAIG EBERT PRESIDENT 40.00 X 202730 0 34823 RAMON LEE CONTROLLER 40.00 X 115396 0 28121 GILLIAN CALOF VP OF OPERATIONS 40.00 X 146404 0 24360 JOHN NICKERSON VP OF FORESTRY 40.00 X 130844 0 29077 JENNIFER WEISS VP OF COMMUNICATIONS 40.00 X 123517 0 23858 MAX DUBUISSON DIRECTOR OF POLICY 40.00 X 106652 0 4083 825543 0 144322 6 0 1 0 INTERCONTINENTAL HOTELS GROUP 900 WILSHIRE BLVD LOS ANGELES CA 90017 NACW 2019 EVENT 222388 1 7500 205286 212786 REGISTRY INCOME 900099 2911532 2911532 CONF REGISTRATION 900099 281441 281441 CONTRACT INCOME 900099 224261 224261 FEE INCOME 611600 126000 126000 WORKSHOP INCOME 900099 20615 20615 3563849 7044 7044 MISCELLANEOUS REVENUE 900099 3079 3079 3079 3786758 3563849 0 10123 378082 160941 211041 6100 1562706 1123969 432796 5941 22500 15867 6516 117 295137 215382 78519 1236 145046 97375 46811 860 33532 33532 195794 169555 26239 3391 3391 69260 53375 15885 76949 61404 15545 221347 148599 71436 1312 200837 194064 6773 256887 254769 2118 13658 13658 78913 52978 25467 468 REGISTRY FEE 624563 624563 EQUIPMENT RENTAL 71027 71027 OTHER EXPENSES 34428 6197 28231 TAXES 17513 9680 7833 42789 27046 15688 55 4344359 3290182 1038088 16089 100 88 1290356 1404239 55071 1093293 546171 126298 52831 127681 99484 41855 28197 1618022 1838504 4224995 3870030 227760 215453 1670717 1885660 1898477 2101113 X 2137055 1768917 189463 0 2326518 1768917 4224995 3870030 -557601 0 X 0 1 X 1 0 X 385024 619894 485548 546001 212786 2249253 2757258 2968439 3682362 3546590 3563849 16518498 3142282 3588333 4167910 4092591 3776635 18767751 0 1027179 1033664 1588046 1386939 1407563 6443391 1027179 1033664 1588046 1386939 1407563 6443391 12324360 264 421 842 1712 7044 10283 264 421 842 1712 7044 10283 45418 153 1903 4879 3079 55432 3187964 3588907 4170655 4099182 3786758 18833466 0.65440 0.67180 0.00050 0.00020 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 127681 99484 28197 28197 SECURITY DEPOSITS 20914 CLIMATE RESERVE TONNES FOREST BUFFER POOL ASSET 1817590 1838504 CLIMATE RESERVE TONNES FOREST BUFFER POOL LIABILITY 1817590 DEFERRED RENT 68070 1885660 3224873 62678 62678 3162195 624563 624563 3786758 3782474 62678 62678 3719796 624563 624563 4344359 PART XI, LINE 4B - OTHER ADJUSTMENTS: REGISTRY FEE 624,563. PART XII, LINE 4B - OTHER ADJUSTMENTS: REGISTRY FEE 624,563. 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, 2019 THE ORGANIZATION HELD 208,008 CRTS, WHICH WERE VALUED AT FAIR MARKET VALUE AMONG THREE CATEGORIES OF PRICE INPUTS AVAILABLE. MEXICO 0 1 PROGRAM SERVICES INTERNATIONAL INITIATIVES 181816 CANADA 0 1 PROGRAM SERVICES INTERNATIONAL INITIATIVES 14409 0 2 0 0 0 2 196225 0 196225 0 0 0 0 0 0 X X X 0 0 0 0 0 0 0 0 0 CRAIG EBERT PRESIDENT 202730 0 0 0 0 0 1200 0 33623 0 237553 0 0 0 GILLIAN CALOF VP OF OPERATIONS 146404 0 0 0 0 0 1200 0 23160 0 170764 0 0 0 JOHN NICKERSON VP OF FORESTRY 130844 0 0 0 0 0 1200 0 27877 0 159921 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 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.