Alliance to End Plastic Waste

What it reported doing in 2024

Clean up: searcular, an initiative by greencore resources, is dedicated to tackling ocean-bound plastic waste in indonesia by integrating waste pickers into the circular economy. Operating primarily in surabaya, searcular collects and recycles various plasticsincluding low-value flexible packaging that often escapes traditional waste management systemstransforming them into high-quality recycled materials. Through its partnership with searcular, the alliance provided a working capital grant allowing pengepuls (local collection centres) to pay waste pickers upfront for collecting flexible plastics without immediate pressure to sell. As a result, waste pickers could expand their collection efforts, ensuring a steady supply of flexibles for recycling. Almost all of it was processed into ocean bound plastic (obp)-certified recycled raw materials, such as recycled low-density polyethylene (rldpe) and linear low-density polyethylene (rlldpe), which are now being used to manufacture plastic sheets, bags, and bin liners. Beyond the project's conclusion, pengepuls have continued to sell flexible plastics to greencore, demonstrating the sustainability of the model. Searcular now recovers and recycles hundreds of tonnes of code #7 plastics alongside pet, polypropylene (pp), polystyrene (ps), polyethylene (pe)-based plastics from ocean-bound plastics areas.

Financial Efficiency

• Mission deployment rate: 66.6%; rating input score 67
• Program expense ratio: 75.9%; rating input score 76
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 25th percentile among comparable filings
• Pay-setting controls: 4 of 6 controls in place; rating input score 67
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Pass
  • Board or committee approval: Pass
• Foreign activity oversight: 1 of 8 controls in place; rating input score 12
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Fail
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Fail
  • Conducts site visits: Fail
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 99.7%; rating input score 100; 43rd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Yes; rating input score 100

Accountability

• Independent voting board: 100%; rating input score 100; 77th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: 17.3%; rating input score 85; 85th percentile among comparable filings
• Total-asset coverage ratio: 3.01; rating input score 76; 76th percentile among comparable filings
• Liabilities to assets ratio: 0.04; rating input score 91; 91st percentile among comparable filings
• Officer compensation ratio: 8.8%; rating input score 4; 4th percentile among comparable filings

Growth

• Program expense growth: 15% per year; rating input score 100; 87th percentile among comparable filings
• Revenue growth: 0.6% per year; rating input score 100; 7th percentile among comparable filings
• Asset growth: 18.5% per year; rating input score 100; 91st percentile among comparable filings