Prime Coalition INC

Tax-deductible

Cambridge, MA501(c)(3)Since 2014Human ServicesEIN 46-4621007

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To partner with mission-aligned investors to support market-driven solutions that combat climate change and have a high likelihood of eventually achieving commercial success but will otherwise have a difficult time raising adequate financial support to scale.

501(c)(3) charity; gifts are tax-deductible.
90¢ of each $1 spent went to programs.
Run by 22 volunteers and 14 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 4
filings with a surplus
Average surplus $1.7M a year · 16% of revenue · last 4 filings
Worth a look: a surplus in 2 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
90%
of spending
Looks good: 90% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$2.0M
to officers and key staff · 15% of spending
Top officer’s pay higher than 77% of similar orgs
Looks good: pay to officers and key staff is 15% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
28 mo
of spending, in cash
Looks good: 28.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
12
named funders · $3.3M
Looks good: 12 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$28.5M
32% of total assets
Looks good: liabilities are 32% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$12.3M
+24% vs prior year
Spent
$13.8M
To programs
90%
Net assets
$61.4M
By yearFY2020–FY2024
Revenue
$12.3M
FY2024▲ +24%
Revenue by fiscal year
FY2020$7.8M
FY2022$11.5M
FY2023$9.9M
FY2024$12.3M
Expenses
$13.8M
FY2024▲ +31%
Expenses by fiscal year
FY2020$3.9M
FY2022$6.7M
FY2023$10.5M
FY2024$13.8M
Net assets
$61.4M
FY2024▲ +5%
Net assets by fiscal year
FY2020$19.9M
FY2022$77.9M
FY2023$58.6M
FY2024$61.4M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2014.

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

Where the money goes

90 cents of each dollar spent went to programs.

Program services 90% · $12.4M Management & general 7% · $954K Fundraising 3% · $446K

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

18 people listed on the 990; $2.0M paid to officers and key staff.

Part VII, Section A · reportable compensation
Managing Director, Trellis Climate
$306,900Pt VII · Sec A
Executive Director
$282,082Pt VII · Sec A
SR. Dir., Prtnrshps (until 07/15/24)
$220,480Pt VII · Sec A
Director of Impact
$197,427Pt VII · Sec A
Principal, Trellis Climate
$195,950Pt VII · Sec A
Director of Impact Accountability
$194,656Pt VII · Sec A
Director of Finance and Operations
$192,876Pt VII · Sec A
Principal, Trellis Climate
$169,318Pt VII · Sec A

Lara Pierpoint’s $307K as Managing Director, Trellis Climate is at the 77th percentile of top reported officer pay among 3122 $10–100M human services 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

NameFY2024FY2023FY2022FY2020
Matthew Nordan———$474,981
Lara Pierpoint$306,900———
Sarah Kearney$282,082$278,065$211,296$144,846
Margaret Cutts - Dir of P'Ships—$234,556——
Melissa Harris$220,480———
Lara Pierpoint - Managing Dir—$213,388——
Anna Goldstein$197,427$194,258$135,913—
Emily Lewis O'Brien$195,950———

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 Prime Coalition 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

Funds climate solutions with commercial potential that struggle to attract investment.

Provided by the organization

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1 program service account for $12.4M of program spending, described in the organization's own filed words · FY2024.
01

(a) Catalytic Investing

Prime serves as a waterway to deploy charitable capital into market-driven climate solutions. Our catalytic investing programs are purpose-built to reduce barriers to climate impact. Since 2014, prime has closed $67m of catalytic capital into its nonprofit form, mobilized $312.2m into its catalytic investment opportunities, and unlocked…

$12.4Mprogram expense

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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 · FY2024
See all 12 funders →
Grants paid · 19 grants · $1.7M · 2023–2024
See all 19 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$12.3M
Ln 12
Gifts and grantsLn 1h$10.6M
Investment incomeLn 3$908K
Other incomeLn 4–11$441K
Money outPt IX
$13.8M
Ln 25
Programscol B$12.4M
Managementcol C$954K
Fundraisingcol D$446K
Owns and owesPt X
$61.4M
net assets · Ln 32
Cash and savingsLn 1–2$32.6M
Total assetsLn 16$89.9M
LiabilitiesLn 26$28.5M
PeoplePt VI, VII
18
listed · VII A
PaidVII A10
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10.6M
Fees for servicesLn 2g$339K
Investment incomeLn 3$908K
Other incomeLn 4–11$441K
Total revenueLn 12$12.3M
Assets in detailPt X, end of year
CashLn 1$32.6M
Cash and savings togetherLn 1–2$32.6M
InvestmentsLn 11–13$53.1M
Other assetsLn 15$59K
Total assetsLn 16$89.9M
LiabilitiesLn 26$28.5M
Net assetsLn 32$61.4M
OperationsPt I, VI
EmployeesI 514
VolunteersI 622
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$34.3M$32.6M
InvestmentsLn 11–13$59.9M$53.1M
Total assetsLn 16$94.9M$89.9M
LiabilitiesLn 26$36.3M$28.5M
Net assetsLn 32$58.6M$61.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.6M$1.6M
Pay of current officers, directors and key staffLn 5$1.3M$999K$260K$81K
Other salaries and wagesLn 7$2.0M$1.9M$72K$77K
Pension plan contributionsLn 8$103K$96K$3K$4K
Other employee benefitsLn 9$146K$135K$4K$7K
Payroll taxesLn 10$243K$211K$22K$11K
Legal feesLn 11b$65K$46K$19K
Accounting feesLn 11c$225K$131K$90K$4K
Professional fundraising feesLn 11e$164K$164K
Investment management feesLn 11f$274K$274K
Other fees for servicesLn 11g$1.8M$1.4M$310K$60K
Advertising and promotionLn 12$261K$261K
Office expensesLn 13$244K$191K$42K$11K
OccupancyLn 16$110K$84K$16K$10K
TravelLn 17$332K$199K$116K$17K
Conferences, conventions and meetingsLn 19$12K$12K
InterestLn 20$4.9M$4.9M
InsuranceLn 23$22K$21K$504$337
Other expenses (24a–d)Ln 24$3K$3K$350
Total functional expensesLn 25$13.8M$12.4M$954K$446K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $12.3M$13.8M−$1.5M$61.4M 990 PDF
FY2023 $9.9M$10.5M−$610K$58.6M 990 PDF
FY2022 $11.5M$6.7M$4.8M$77.9M 990 PDF
FY2021 Not on file
FY2020 $7.8M$3.9M$3.9M$19.9M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $12,283,514 across 6 lines filed
VIII-1f All other contributions, gifts and grants$10,594,611
VIII-1h Total contributions, gifts and grants$10,594,611
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $339,413$339,413
VIII-3 Investment incomeExcluded from tax $907,996$907,996
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $441,494$441,494
VIII-12 Total revenueRelated to mission $780,907 · Unrelated business $0 · Excluded from tax $907,996$12,283,514
Part IX · Statement of functional expenses $13,797,698 across 19 lines filed
IX-1 Grants to domestic organizationsPrograms $1,569,787$1,569,787
IX-5 Pay of current officers, directors and key staffPrograms $998,687 · Management $259,520 · Fundraising $80,748$1,338,955
IX-7 Other salaries and wagesPrograms $1,860,840 · Management $71,875 · Fundraising $76,904$2,009,619
IX-8 Pension plan contributionsPrograms $95,924 · Management $2,547 · Fundraising $4,301$102,772
IX-9 Other employee benefitsPrograms $135,257 · Management $4,383 · Fundraising $6,716$146,356
IX-10 Payroll taxesPrograms $210,662 · Management $21,613 · Fundraising $10,736$243,011
IX-11b Legal feesPrograms $46,265 · Management $18,616$64,881
IX-11c Accounting feesPrograms $130,791 · Management $90,274 · Fundraising $4,374$225,439
IX-11e Professional fundraising feesFundraising $164,000$164,000
IX-11f Investment management feesPrograms $273,620$273,620
IX-11g Other fees for servicesPrograms $1,439,460 · Management $310,270 · Fundraising $59,827$1,809,557
IX-12 Advertising and promotionPrograms $261,148$261,148
IX-13 Office expensesPrograms $191,179 · Management $41,757 · Fundraising $11,250$244,186
IX-16 OccupancyPrograms $83,558 · Management $16,305 · Fundraising $9,705$109,568
IX-17 TravelPrograms $199,151 · Management $115,975 · Fundraising $16,605$331,731
IX-19 Conferences, conventions and meetingsPrograms $11,549$11,549
IX-20 InterestPrograms $4,866,327$4,866,327
IX-23 InsurancePrograms $21,192 · Management $504 · Fundraising $337$22,033
IX-24 Other expenses (24a–d)Programs $2,809 · Management $350$3,159
IX-25 Total functional expensesPrograms $12,398,206 · Management $953,989 · Fundraising $445,503$13,797,698
Part X · Balance sheet $89,941,716 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $34,258,326$32,630,793
X-3 Pledges and grants receivableStart of year $771,856$4,137,184
X-13 Program-related investmentsStart of year $59,877,435$53,114,341
X-15 Other assetsStart of year $33,659$59,398
X-16 Total assetsStart of year $94,941,276$89,941,716
X-17 Accounts payable and accrued expensesStart of year $134,767$146,736
X-25 Other liabilitiesStart of year $36,183,311$28,378,684
X-26 Total liabilitiesStart of year $36,318,078$28,525,420
X-27 Net assets without donor restrictionsStart of year $33,327,063$37,366,019
X-28 Net assets with donor restrictionsStart of year $25,296,135$24,050,277
X-32 Total net assets or fund balancesStart of year $58,623,198$61,416,296
X-33 Total liabilities and net assetsStart of year $94,941,276$89,941,716
Part XI · Reconciliation of net assets $61,416,296 net assets at year end
XI-1 Total revenue$12,283,514
XI-2 Total expenses$13,797,698
XI-3 Revenue less expenses−$1,514,184
XI-4 Net assets at start of year$58,623,198
XI-5 Net unrealized gains (losses) on investments$4,307,282
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$61,416,296

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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