Ceres is a nonprofit advocacy organization working to accelerate the transition to a cleaner, more just, and resilient world. Through education and research, we make the business case for action on the most pressing sustainability challenges facing our economy today: climate change, water scarcity and pollution, and nature and biodiversity loss. With data-driven research and expert analysis, we inspire investors and companies to act on these global challenges and advocate for market and policy solutions.

501(c)(3) charity; gifts are tax-deductible.
85¢ of each $1 spent went to programs.
$1.8M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 6
filings with a surplus
Average surplus $1.7M a year · 5% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
85%
of spending
Looks good: 85% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.8M
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
11 mo
of spending, in cash
Looks good: 11.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $340K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4.6M
10% of total assets
Looks good: liabilities are 10% of assets; 50% or less.
Pt X · Ln 26
Independent board members
26
of 27 voting members
Looks good: 26 of 27 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$44.5M
+81% vs prior year
Spent
$26.8M
To programs
85%
Net assets
$40.7M
By yearFY2020–FY2025
Revenue
$44.5M
FY2021▲ +81%
Tap a bar for its year
Revenue by fiscal year
FY2020$24.6M
FY2021$44.5M
FY2022$31.7M
FY2023$43.5M
FY2024$40.9M
FY2025$33.6M
Expenses
$26.8M
FY2021▲ +24%
Tap a bar for its year
Expenses by fiscal year
FY2020$21.7M
FY2021$26.8M
FY2022$36.4M
FY2023$41.6M
FY2024$44.3M
FY2025$37.8M
Net assets
$40.7M
FY2021▲ +79%
Tap a bar for its year
Net assets by fiscal year
FY2020$22.7M
FY2021$40.7M
FY2022$35.0M
FY2023$36.8M
FY2024$33.5M
FY2025$29.4M

From the FY2021 Form 990 (year ending October 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Nov 1990.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

85 cents of each dollar spent went to programs.

Program services 85% · $22.9M Management & general 8% · $2.1M Fundraising 7% · $1.8M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

36 people listed on the 990; $1.8M paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
CEO & President
$279,289Pt VII · Sec A
Chief Development Officer
$253,406Pt VII · Sec A
Exec. VP & Chief Program Officer
$220,349Pt VII · Sec A
Managing Director
$186,883Pt VII · Sec A
VP, Foundation Development
$185,252Pt VII · Sec A
Chief Financial & Admin. Officer
$183,888Pt VII · Sec A
VP, Government Relations
$171,648Pt VII · Sec A
SR. Dpt. Dr., HR & Operations
$164,030Pt VII · Sec A

Mindy Lubber’s $333K as CEO and President is at the 72nd percentile of top reported officer pay among 324 $10–100M environment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Mindy Lubber$333,139$311,427$324,205$296,810$279,289$257,625
Susan Sayers$308,841$288,120$284,122$262,133$253,406$220,104
Susan Boyer$272,841$252,762$246,587$202,209$183,888$160,471
Dawn Martin Until Aug 2024—$255,415————
Dawn Martin$243,024—$253,299$230,386$220,349$191,660
Steven Rothstein$252,897$235,895$232,051$209,806$186,883—
Donna Daniels$234,204$216,420$25,334———
Anne Kelly$228,731$214,649$212,177$188,195$171,648$148,436

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Ceres INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Mobilizes influential investors and companies to adopt sustainable business practices and advocate for policies addressing climate change, water scarcity, and social inequality.

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3 programs · $16.4M · in their own filed words · FY2020
01

Sustainable Capital Markets

See schedule osustainable capital markets: ceres mobilizes influential financial market actors to engage and collaborate on environmental, social, and governance issues to advance leading investment practices, corporate engagement strategies and policy solutions through working groups and shared learning opportunities, such as webinars…

$9.5Mprogram expense
02

Policy

See schedule opolicy: the ceres policy network, known as bicep, comprises 75+ companies, including dozens of leading consumer brands and fortune 500s, advocating for strong climate, clean energy and water policies at the state and federal levels.

$4.1Mprogram expense
03

Sustainable Business Strategies

See schedule osustainable business strategies: ceres' company network comprises 50+ companies, nearly 75 percent of them fortune 500 firms, setting the highest bar for sustainability leadership.

$2.8Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
Total grants receivedfrom 2 funders$340K
Grants paid · 30 grants · $2.7M · 2019–2024
Cdp North America INCNY · FY2024$370,277
Forest Trends AssociationDC · FY2024$73,333
Meridian InstitutePA · FY2024$9,097
Cdp North America INCNY · FY2023$367,275
Forest Trends AssociationDC · FY2023$98,626
Meridian InstitutePA · FY2023$54,584
Clean Air Task Force INCMA · FY2023$20,000
Cdp North America INCNY · FY2022$235,214
Forest Trends AssociationDC · FY2022$152,716
R Street InstituteDC · FY2022$75,000
Meridian InstitutePA · FY2022$54,583
Clean Air Task Force INCMA · FY2022$20,000
Climate CollaborativeWA · FY2022$11,200
Forest Trends AssociationDC · FY2021$214,825
Meridian InstitutePA · FY2021$87,500
Meridian InstitutePA · FY2021$45,486
Climate CollaborativeWA · FY2021$36,073
Clean Air Task Force INCMA · FY2021$20,000
See all 30 grants →

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$44.5M
Ln 12
Gifts and grantsLn 1h$39.4M
Fees for servicesLn 2g$4.9M
Investment incomeLn 3$139K
Money outPt IX
$26.8M
Ln 25
Programscol B$22.9M
Managementcol C$2.1M
Fundraisingcol D$1.8M
Owns and owesPt X
$40.7M
net assets · Ln 32
Cash and savingsLn 1–2$25.1M
Total assetsLn 16$45.3M
LiabilitiesLn 26$4.6M
PeoplePt VI, VII
36
listed · VII A
PaidVII A9
Voting boardVI 1a27
IndependentVI 1b26
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$39.4M
Government grantsLn 1e$6.5M
Noncash giftsLn 1g$4.6M
Fundraising eventsLn 1c$433K
Fees for servicesLn 2g$4.9M
Investment incomeLn 3$139K
Gains on assetsLn 7$45K
Total revenueLn 12$44.5M
Assets in detailPt X, end of year
CashLn 1$4.4M
SavingsLn 2$20.7M
Cash and savings togetherLn 1–2$25.1M
Land, buildings, equipmentLn 10c$1.6M
Other assetsLn 15$124K
Total assetsLn 16$45.3M
LiabilitiesLn 26$4.6M
Net assetsLn 32$40.7M
OperationsPt I, VI
EmployeesI 5236
VolunteersI 652
Fiscal year endsHeaderOctober
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$16.2M$25.1M
Land, buildings, equipmentLn 10c$1.9M$1.6M
Total assetsLn 16$29.4M$45.3M
LiabilitiesLn 26$6.6M$4.6M
Net assetsLn 32$22.7M$40.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$424K$424K
Grants and assistance to foreign recipientsLn 3$4.2M$4.2M
Pay of current officers, directors and key staffLn 5$1.8M$984K$442K$382K
Other salaries and wagesLn 7$11.0M$9.2M$886K$879K
Pension plan contributionsLn 8$433K$369K$33K$31K
Other employee benefitsLn 9$1.5M$1.1M$196K$150K
Payroll taxesLn 10$1.0M$793K$123K$97K
Legal feesLn 11b$62K$43K$19K
Accounting feesLn 11c$124K$30K$94K
Lobbying feesLn 11d$151K$151K
Other fees for servicesLn 11g$3.1M$3.0M$55K$83K
Advertising and promotionLn 12$326K$325K$709
Office expensesLn 13$607K$485K$48K$74K
Information technologyLn 14$368K$313K$27K$28K
OccupancyLn 16$834K$700K$69K$65K
TravelLn 17$39K$33K$673$5K
Conferences, conventions and meetingsLn 19$89K$79K$3K$7K
Depreciation, depletion and amortizationLn 22$434K$350K$43K$41K
Other expenses (24a–d)Ln 24$385K$361K$24K$1K
Total functional expensesLn 25$26.8M$22.9M$2.1M$1.8M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $33.6M$37.8M−$4.2M$29.4M 990 PDF
FY2024 $40.9M$44.3M−$3.3M$33.5M 990 PDF
FY2023 $43.5M$41.6M$1.9M$36.8M 990 PDF
FY2022 $31.7M$36.4M−$4.8M$35.0M 990 PDF
FY2021 Viewing $44.5M$26.8M$17.6M$40.7M 990 PDF
FY2020 $24.6M$21.7M$2.9M$22.7M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $44,457,965 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $19,743,507$39,443,020
I-9 Program service revenuePrior year $4,600,840$4,901,787
I-10 Investment incomePrior year $133,774$138,519
I-11 Other revenuePrior year $136,450−$25,361
I-12 Total revenuePrior year $24,614,571$44,457,965
I-13 Grants and similar amounts paidPrior year $3,214,777$4,617,120
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $13,299,771$15,712,532
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $5,201,641$6,517,615
I-18 Total expensesPrior year $21,716,189$26,847,267
I-19 Revenue less expensesPrior year $2,898,382$17,610,698
Part VI · Governance 26 of 27 board members independent, no flags
VI-1a Voting members of the governing body27
VI-1b Independent voting members26
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $44,457,965 across 11 lines filed
VIII-1c Fundraising events$432,852
VIII-1e Government grants$6,534,310
VIII-1f All other contributions, gifts and grants$32,475,858
VIII-1g Noncash contributions (included above)$4,605,383
VIII-1h Total contributions, gifts and grants$39,443,020
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,901,787$4,901,787
VIII-3 Investment incomeExcluded from tax $93,601$93,601
VIII-7 Net gain or loss on sales of assetsExcluded from tax $44,918$44,918
VIII-8 Net income from fundraising eventsExcluded from tax −$120,407−$120,407
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $82,523 · Excluded from tax $12,523$95,046
VIII-12 Total revenueRelated to mission $4,984,310 · Unrelated business $0 · Excluded from tax $30,635$44,457,965
Part IX · Statement of functional expenses $26,847,267 across 19 lines filed
IX-1 Grants to domestic organizationsPrograms $423,662$423,662
IX-3 Grants and assistance to foreign recipientsPrograms $4,193,458$4,193,458
IX-5 Pay of current officers, directors and key staffPrograms $984,490 · Management $441,787 · Fundraising $382,404$1,808,681
IX-7 Other salaries and wagesPrograms $9,239,888 · Management $885,616 · Fundraising $878,798$11,004,302
IX-8 Pension plan contributionsPrograms $368,898 · Management $33,026 · Fundraising $31,000$432,924
IX-9 Other employee benefitsPrograms $1,106,129 · Management $196,222 · Fundraising $150,473$1,452,824
IX-10 Payroll taxesPrograms $793,270 · Management $123,092 · Fundraising $97,439$1,013,801
IX-11b Legal feesPrograms $43,155 · Management $18,506$61,661
IX-11c Accounting feesPrograms $29,550 · Management $94,234$123,784
IX-11d Lobbying feesPrograms $150,882$150,882
IX-11g Other fees for servicesPrograms $2,960,910 · Management $54,735 · Fundraising $83,143$3,098,788
IX-12 Advertising and promotionPrograms $325,287 · Fundraising $709$325,996
IX-13 Office expensesPrograms $484,864 · Management $47,995 · Fundraising $73,880$606,739
IX-14 Information technologyPrograms $313,014 · Management $26,986 · Fundraising $27,785$367,785
IX-16 OccupancyPrograms $699,810 · Management $69,253 · Fundraising $65,105$834,168
IX-17 TravelPrograms $33,233 · Management $673 · Fundraising $5,308$39,214
IX-19 Conferences, conventions and meetingsPrograms $79,184 · Management $2,896 · Fundraising $7,055$89,135
IX-22 Depreciation, depletion and amortizationPrograms $350,044 · Management $43,309 · Fundraising $40,714$434,067
IX-24 Other expenses (24a–d)Programs $360,609 · Management $23,702 · Fundraising $1,085$385,396
IX-25 Total functional expensesPrograms $22,940,337 · Management $2,062,032 · Fundraising $1,844,898$26,847,267
Part X · Balance sheet $45,325,366 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $5,081,089$4,379,638
X-2 Savings and temporary cash investmentsStart of year $11,150,587$20,726,287
X-3 Pledges and grants receivableStart of year $9,767,768$16,118,950
X-4 Accounts receivableStart of year $659,430$682,914
X-9 Prepaid expenses and deferred chargesStart of year $598,278$1,714,171
X-10c Land, buildings and equipment, netStart of year $1,917,877$1,579,138
X-15 Other assetsStart of year $177,413$124,268
X-16 Total assetsStart of year $29,352,442$45,325,366
X-17 Accounts payable and accrued expensesStart of year $3,792,322$3,708,253
X-19 Deferred revenueStart of year $927,142$930,138
X-25 Other liabilitiesStart of year $1,900,000$0
X-26 Total liabilitiesStart of year $6,619,464$4,638,391
X-27 Net assets without donor restrictionsStart of year $5,705,824$10,095,750
X-28 Net assets with donor restrictionsStart of year $17,027,154$30,591,225
X-32 Total net assets or fund balancesStart of year $22,732,978$40,686,975
X-33 Total liabilities and net assetsStart of year $29,352,442$45,325,366
Part XI · Reconciliation of net assets $40,686,975 net assets at year end
XI-1 Total revenue$44,457,965
XI-2 Total expenses$26,847,267
XI-3 Revenue less expenses$17,610,698
XI-4 Net assets at start of year$22,732,978
XI-5 Net unrealized gains (losses) on investments$343,299
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$40,686,975

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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