Prime Coalition INC FY2020 filing

Tax-deductible

Cambridge, MA501(c)(3)Since 2014Human ServicesEIN 46-4621007Revenue $7.8M in FY2020

On file with the IRSprimecoalition.org625 Massachusetts Avenue 2nd Floor, 02139-3357 · Cambridge, MATax-exempt since Sep 2014Publicly supported charity — 170(b)(1)(A)(vi)

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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.
91¢ of each $1 spent went to programs.
$1.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2020 · 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
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.1M
to officers and key staff · 29% of spending
Worth a look: pay to officers and key staff is 29% of spending; over 20%.
Pt VII · Sec A
Cash reserves
9 mo
of spending, in cash
Looks good: 8.9 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
$8.6M
30% of total assets
Looks good: liabilities are 30% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 9 voting members
Looks good: 7 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
$7.8M
Spent
$3.9M
To programs
91%
Net assets
$19.9M
By yearFY2020–FY2024
Revenue
$7.8M
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$7.8M
FY2022$11.5M
FY2023$9.9M
FY2024$12.3M
Expenses
$3.9M
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$3.9M
FY2022$6.7M
FY2023$10.5M
FY2024$13.8M
Net assets
$19.9M
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$19.9M
FY2022$77.9M
FY2023$58.6M
FY2024$61.4M

From the FY2020 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2024) →

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

91 cents of each dollar spent went to programs.

Program services 91% · $3.5M Management & general 7% · $288K Fundraising 1% · $44K

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

12 people listed on the 990; $1.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
Managing Director
$474,981Pt VII · Sec A
$190,990Pt VII · Sec A
Principal
$190,514Pt VII · Sec A
Executive Director
$144,846Pt VII · Sec A
Director of Partnerships
$118,382Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Treasurer
$0Pt 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.

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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.

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Provided by the organization

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1 program · $3.5M · in their own filed words · FY2020
01

Prime coalition is a nonprofit whose mission is to partner with philanthropists and other catalytic capital investors to support market-driven solutions to climate change. Prime's vision is a safe and equitable planet for all people.

$3.5Mprogram 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 · FY2024
See all 12 funders →
Grants paid · 19 grants · $1.7M · 2023–2024
See all 19 grants →

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$7.8M
Ln 12
Gifts and grantsLn 1h$6.6M
Other incomeLn 4–11$1.3M
Investment incomeLn 3$4
Money outPt IX
$3.9M
Ln 25
Programscol B$3.5M
Managementcol C$288K
Fundraisingcol D$44K
Owns and owesPt X
$19.9M
net assets · Ln 32
Cash and savingsLn 1–2$2.9M
Total assetsLn 16$28.6M
LiabilitiesLn 26$8.6M
PeoplePt VI, VII
12
listed · VII A
PaidVII A5
Voting boardVI 1a9
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$6.6M
Investment incomeLn 3$4
Other incomeLn 4–11$1.3M
Total revenueLn 12$7.8M
Assets in detailPt X, end of year
CashLn 1$2.9M
Cash and savings togetherLn 1–2$2.9M
InvestmentsLn 11–13$24.5M
Other assetsLn 15$218K
Total assetsLn 16$28.6M
LiabilitiesLn 26$8.6M
Net assetsLn 32$19.9M
OperationsPt I, VI
EmployeesI 514
VolunteersI 622
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$799K$2.9M
InvestmentsLn 11–13$19.6M$24.5M
Total assetsLn 16$20.9M$28.6M
LiabilitiesLn 26$8.4M$8.6M
Net assetsLn 32$12.5M$19.9M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$1.2M$1.1M$89K$41K
Other salaries and wagesLn 7$271K$271K
Other employee benefitsLn 9$32K$32K
Payroll taxesLn 10$22K$14K$5K$3K
Legal feesLn 11b$49K$46K$3K
Accounting feesLn 11c$104K$64K$40K
Other fees for servicesLn 11g$465K$414K$52K
Advertising and promotionLn 12$7K$4K$3K
Office expensesLn 13$32K$11K$21K
OccupancyLn 16$170K$114K$56K
TravelLn 17$27K$21K$6K$64
Conferences, conventions and meetingsLn 19$19K$19K$397
InterestLn 20$1.4M$1.4M
InsuranceLn 23$19K$16K$4K
Other expenses (24a–d)Ln 24$19K$8K$10K$340
Total functional expensesLn 25$3.9M$3.5M$288K$44K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $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 Viewing $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 FY2020 990 (6 parts)
Part I · Summary $7,804,885 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $8,456,933$6,554,517
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$4
I-11 Other revenuePrior year $869,780$1,250,364
I-12 Total revenuePrior year $9,326,713$7,804,885
I-13 Grants and similar amounts paidPrior year $110,000$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $825,825$1,531,660
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $1,864,287$2,330,973
I-18 Total expensesPrior year $2,800,112$3,862,633
I-19 Revenue less expensesPrior year $6,526,601$3,942,252
Part VI · Governance 7 of 9 board members independent, 2 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members7
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $7,804,885 across 5 lines filed
VIII-1f All other contributions, gifts and grants$6,554,517
VIII-1h Total contributions, gifts and grants$6,554,517
VIII-3 Investment incomeExcluded from tax $4$4
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,250,364$1,250,364
VIII-12 Total revenueRelated to mission $1,250,364 · Unrelated business $0 · Excluded from tax $4$7,804,885
Part IX · Statement of functional expenses $3,862,633 across 15 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $1,077,421 · Management $88,627 · Fundraising $40,597$1,206,645
IX-7 Other salaries and wagesPrograms $270,745$270,745
IX-9 Other employee benefitsPrograms $32,451$32,451
IX-10 Payroll taxesPrograms $14,472 · Management $4,556 · Fundraising $2,791$21,819
IX-11b Legal feesPrograms $45,686 · Management $3,464$49,150
IX-11c Accounting feesPrograms $64,343 · Management $39,705$104,048
IX-11g Other fees for servicesPrograms $413,527 · Management $51,508$465,035
IX-12 Advertising and promotionPrograms $3,837 · Management $2,824$6,661
IX-13 Office expensesPrograms $11,459 · Management $20,685$32,144
IX-16 OccupancyPrograms $113,735 · Management $55,972$169,707
IX-17 TravelPrograms $20,923 · Management $6,018 · Fundraising $64$27,005
IX-19 Conferences, conventions and meetingsPrograms $18,900 · Management $397$19,297
IX-20 InterestPrograms $1,420,005$1,420,005
IX-23 InsurancePrograms $15,815 · Management $3,574$19,389
IX-24 Other expenses (24a–d)Programs $7,867 · Management $10,325 · Fundraising $340$18,532
IX-25 Total functional expensesPrograms $3,531,186 · Management $287,655 · Fundraising $43,792$3,862,633
Part X · Balance sheet $28,560,851 assets, 13 lines filed
X-1 Cash, non-interest-bearingStart of year $798,747$2,860,552
X-4 Accounts receivableStart of year $557,116$1,007,041
X-13 Program-related investmentsStart of year $19,552,927$24,475,155
X-15 Other assetsStart of year $19,210$218,103
X-16 Total assetsStart of year $20,928,000$28,560,851
X-17 Accounts payable and accrued expensesStart of year $23,258$122,837
X-19 Deferred revenueStart of year $1,016,213$450,000
X-25 Other liabilitiesStart of year $7,394,985$8,069,962
X-26 Total liabilitiesStart of year $8,434,456$8,642,799
X-27 Net assets without donor restrictionsStart of year $11,792,075$18,379,324
X-28 Net assets with donor restrictionsStart of year $701,469$1,538,728
X-32 Total net assets or fund balancesStart of year $12,493,544$19,918,052
X-33 Total liabilities and net assetsStart of year $20,928,000$28,560,851
Part XI · Reconciliation of net assets $19,918,052 net assets at year end
XI-1 Total revenue$7,804,885
XI-2 Total expenses$3,862,633
XI-3 Revenue less expenses$3,942,252
XI-4 Net assets at start of year$12,493,544
XI-5 Net unrealized gains (losses) on investments$3,483,256
XI-8 Prior period adjustments−$1,000
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$19,918,052

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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