2017-12-05T15:33:17-06:00 2017-06-30 946214841 Armanino LLP 11766 Wilshire Blvd Ninth Fl Los Angeles CA 90025 990 2016-07-01 680477330 Climate Action Reserve CLIM 2138911444 818 West 7th Street No 710 Los Angeles CA 90017 Craig Ebert President 2138911444 2017-12-05 1 Renee Ordeneaux P00733066 3104784148 69.75.114.228 2017-12-05 14:44:55 PS P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 AEFADB9EECB0F3240FD57BDD2849E9ECBE845246 2016 2017-02-10 21:41:12Z X CRAIG EBERT 818 West 7th Street No 710 Los Angeles CA 90017 4170655 0 X www.climateactionreserve.org X 2001 CA 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 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 and six Reserve offset protocols have been adopted by ARB for use in the compliance offset system under the cap-and-trade program. 16 16 23 16 0 0 619894 485548 2968439 3682362 421 842 153 1903 3588907 4170655 0 0 0 0 2009225 2377986 0 0 356956 1144116 1183578 3153341 3561564 435566 609091 9306671 4453547 7176338 1714123 2130333 2739424 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 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 and six Reserve offset protocols have been adopted by ARB for use in the compliance offset system under the cap-and-trade program. 1 0 1723338 2998739 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 creating a trusted and valued commodity. 375346 563393 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 2017 the Climate Action Reserve successfully hosted the 15th annual Navigating the American Carbon World Conference in San Francisco. 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 COP22 in Marrakech, Morocco, that allowed the international climate community to gain a deeper understanding of the pioneering initiatives in California and other subnational and national governments. The Climate Action Reserve also regularly hosts workshops, presentations and seminars on a variety of climate policy topics including carbon markets. 199922 120230 In FY2017 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 FY2017 the Reserve continued to pilot forestry projects in rural Mexico to test the Mexico Forest Project Protocol, including the development of its verification program and training verifiers. In FY2017 the Reserve won a contract and initiated work for the Ministry of Environment and Climate Change to adapt protocols for Canada. 2298606 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 10 0 23 1 0 0 0 0 0 0 0 0 0 0 X 16 16 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 Peter Liu VICE CHAIR 1.00 X X 0 0 0 Peter M Miller SECRETARY 1.00 X X 0 0 0 Jeffrey Kightlinger 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 Cynthia Cory Board Member 1.00 X 0 0 0 RODOLFO LACY TAMAYO Board Member 1.00 X 0 0 0 JOHN LAIRD Board Member 1.00 X 0 0 0 MELISSA A LAVINSON 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 NANcy Sutley Board Member 1.00 X 0 0 0 Gary Gero Board Member 1.00 X 0 0 0 Craig Ebert President 40.00 X 163199 0 30850 Ramon Lee Controller 40.00 X 106795 0 24168 JENNIFER WIESS VP COMMUNICATION 40.00 X 118411 0 21315 John Nickerson Director of Forestry / VP 40.00 X 133506 0 25566 Rachel Tornek Program Director / VP Prog 40.00 X 121337 0 20754 Gillian Calof Operation Director / VP of 40.00 X 131936 0 21675 775184 0 144328 6 0 1 0 0 485548 485548 Contract Income 900099 3371378 3371378 Conference Registratio 900099 230143 230143 Fee Income 900099 75750 75750 Workshop Income 611600 5091 5091 3682362 842 842 Miscellaneous Revenue 900099 1903 1903 1903 4170655 3682362 0 2745 346137 48050 215092 82995 1553923 1029372 362490 162061 330258 216780 76477 37001 147668 85688 43305 18675 105 105 30485 30485 225909 218180 3520 4209 1765 1680 85 87184 56376 19570 11238 83223 70608 12366 249 199515 115774 58509 25232 132930 122753 5565 4612 225923 216597 9326 13477 13477 81249 47147 23827 10275 Equipment Rental 55808 55808 OTHER 26560 4220 22016 324 Dues and Fees 15538 10139 5399 Bad Debt Expense 3907 -671 4578 3561564 2298606 906002 356956 100 100 1659227 1474715 54779 139558 611369 1223139 82431 86215 207206 184020 18720 23186 6880045 1506634 9306671 4453547 279604 223492 6896734 1490631 7176338 1714123 X 1964212 2636458 166121 102966 2130333 2739424 9306671 4453547 609091 0 X X 0 1 X 1 0 X 823209 552424 385024 619894 485548 2866099 2212777 3270909 2757258 2968439 3682362 14891745 3035986 3823333 3142282 3588333 4167910 17757844 0 711720 1101967 1027179 1033664 1588046 5462576 711720 1101967 1027179 1033664 1588046 5462576 12295268 640 337 264 421 842 2504 640 337 264 421 842 2504 45418 153 1903 47474 3036626 3823670 3187964 3588907 4170655 17807822 0.69040 0.44460 0.00010 0.00010 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2686 2597 89 204520 181423 23097 23186 Security Deposits 21662 CLIMATE RESERVE TONNES FOREST BUFFER POOL ASSET 1484972 1506634 Climate Reserve Tonnes Forest Buffer Pool Liability 1484972 Deferred Rent 5659 1490631 4273818 103163 103163 4170655 0 4170655 3664727 103163 103163 3561564 0 3561564 FORM 990, SCH D, PARTS IX AND X, LINE 2 In conjunction with issuing Climate Reserve Tonnes (CRTs) to forest project developers, the Organization retains a percentage of these CRTs for its Buffer Pool. These noncash transactions are recorded as an asset and liability in the statement of financial position. At June 30, 2017, the Organization held 170,295 CRTs, which were valued at fair value Mexico 0 1 Program Services TECHNICAL EXPERT 32255 CANADA 0 5 PROGRAM SERVICES TECHNICAL EXPERT 47438 0 6 0 0 0 6 79693 0 79693 0 0 0 0 0 0 X X X 0 0 0 0 0 0 0 0 0 Craig Ebert President 163199 0 0 0 0 0 0 0 30850 0 194049 0 0 0 John Nickerson Director of Forestry / VP 133506 0 0 0 0 0 0 0 25566 0 159072 0 0 0 Gillian Calof Operation Director / VP of 131936 0 0 0 0 0 0 0 21675 0 153611 0 0 0 Form 990, Part III, line 2 The Reserve began development of a Direct Reduction Program for offsite activities of development projects, which entails approving methodologies and projects, overseeing independent third parties, and issuing and tracking credits. The Direct Reduction Program is designed to be consistent with widely recognized GHG project accounting principles including relevance, completeness, consistency, transparency, accuracy, and conservativeness. The program requires greenhouse gas emissions reduction projects to be additional, unique, conservatively estimated, and not cause adverse environmental, social, or economic impacts. 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 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 via electronic mail, then reviewed by the Operations Director, and finally forwarded to the controller for processing. This deliberation process 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 XII, Line 2c: The process has not changed from the prior year.