Rare

What it reported doing in 2024

Sustainable fisheries and farming - rare's coastal fisheries program, fish forever, uses an innovative behavior-centered approach to strengthen community-led coastal fisheries management and restore the marine ecosystems where more than 70% of marine life is found. Rare leverages biological, behavioral, and social sciences with partners and local leaders to sustain fisheries production, build coordinated advocacy among governments, and elevate coastal fishers' voices. Rare empowers local communities and governments to design, implement, and enforce a proven fisheries management system: managed access areas with no-take reserves (ma+r). This system balances people's sustainable use of coastal fishing waters with their protection. Smallholder farmers shape our global food system and economy. Through regenerative farming, farmers can create new social norms for sustainable farming. The results are incredible. We restore the soil, biodiversity flourishes, carbon remains in the ground, and we create better community climate resilience. Regenerative agriculture is a powerful solution to promote food security, climate resilience, and farmer livelihood.rare's regenerative agriculture program seeks to transform and reimagine how we farm for the future. We partner with farming communities in high-biodiversity ecosystems to shift to regenerative agriculture and more sustainable ranching practices. The program helps smallholder farmers create sustainable and long-term solutions for people, biodiversity, and the climate.with a science-based, behavior-centered approach paired with partnerships for scale, rare is working to normalize climate-friendly behaviors through the power of culture. Working with leading entertainment brands and nonprofit partners, rare is producing groundbreaking research into the potential of storytelling to shift audience perceptions of climate change and shift culture to make sustainability the norm.

Financial Efficiency

• Mission deployment rate: 74.6%; rating input score 75
• Program expense ratio: 82.2%; rating input score 82
• Fundraising efficiency: $13.14 raised per $1 spent on fundraising; rating input score 46; 46th percentile among comparable filings

Transparency & Controls

• Consistency checks: 93.8%; rating input score 94; 17th percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Pass
  • Other Form 990s reviewed: Missing
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: 4 of 8 controls in place; rating input score 50
  • Claims monitoring procedures: Pass
  • Requires narrative reports: Pass
  • Conducts field audits: Fail
  • May suspend future funding: Fail
  • Requires financial reports: Pass
  • Conducts site visits: Pass
  • Requires grant agreements: Fail
  • May require repayment: Fail
• Grant itemization coverage: 93.6%; rating input score 94; 23rd percentile among comparable filings
• Major donor itemization: Yes; rating input score 100
• Related-party transparency: Limited

Accountability

• Independent voting board: 95.8%; rating input score 96; 29th 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: 10.1%; rating input score 68; 68th percentile among comparable filings
• Total-asset coverage ratio: 1.04; rating input score 37; 37th percentile among comparable filings
• Liabilities to assets ratio: 0.31; rating input score 45; 45th percentile among comparable filings
• Officer compensation ratio: 13.7%; rating input score 10; 10th percentile among comparable filings

Growth

• Program expense growth: 4.6% per year; rating input score 100; 38th percentile among comparable filings
• Revenue growth: 5.5% per year; rating input score 100; 48th percentile among comparable filings
• Asset growth: 3.3% per year; rating input score 100; 24th percentile among comparable filings