Code REDD

Nonprofit profile at a glance

EIN
460888828
IRS 990 coverage
2015–2023
Forms available
Form 990 2023
Location
Mill Valley, CA, USA
Phone
4153328081
Rating
44
Verdict
MIXED
Rating confidence
Moderate
Sector
Management & Technical Assistance

Reported finances

Revenue
$641,636
Expenses
$331,630
Assets
$119,514
Liabilities
$512,478

Source: IRS Form 990. Selected filing: tax year 2023. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • MIKE KORCHINSKY (President)

People named in this filing

  • MIKE KORCHINSKY (President)
  • MICHAEL R RADOMIR (Trustee)
  • BRIAN MCFARLAND (Trustee)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2023. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support and scale the redd+ mechanism to realize its full potential to empower people, preserve forests, protect wildlife, and reduce emissions

What it reported doing in 2023

BUSINESS AND PROJECT PARTNER ENGAGEMENT: We continue to engage with businesses to build support for avoided deforestation projects. The focus being on technical consultancy on independent standards and verification for avoided deforestation, as well as details of comparative benefits with other climate mitigation projects. In turn, we continued to support our project partners with information about the latest trends in business support for nature-based climate solutions. A central program of the organization is its interactive website, which was redesigned and upgraded, that resulted in better user metrics.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - Revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 46
  • Transparency & Controls: 50
  • Accountability: 24
  • Sustainability: 58
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 22.1%; rating input score 22
  • Program expense ratio: 69.8%; rating input score 70
  • Fundraising efficiency: $159.5 raised per $1 spent on fundraising; rating input score 91; 91st percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Scored; rating input score 0
  • Grant itemization coverage: Scored; rating input score 0
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 4th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 48.3%; rating input score 92; 92nd percentile among comparable filings
  • Total-asset coverage ratio: 0.36; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 4.29; rating input score 1; 1st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: -15.7% per year; rating input score 0; 3rd percentile among comparable filings
  • Revenue growth: 1.1% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 0.2% per year; rating input score 100; 19th percentile among comparable filings

Details

  • Where the money goes: 22.1% of revenue deployed · 69.8% of spending went to programs
  • Governance: 0 of 4 board members independent · 4 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $231K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 23 of 23 current checks pass
  • Schedules: 4 filed schedules · includes foreign activity
  • Filing history: 9 filing years from 2015 to 2023
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 22/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Transparency & Controls: Foreign activity oversight scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Sustainability: Liabilities to assets ratio scored 1/100.