Prime Coalition Inc
- Assets
- $94.9m
- Revenue
- $9.9m
- Investments
- $0.0
- Employees
- 21
- Location
- Cambridge, MA
- Founding
- 09/2014
- Data as of
- 12/2023
- EIN
- 46-4621007
Organization Overview
Prime Coalition Inc is located in Cambridge, MA. The organization was established in 2014. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2023, Prime Coalition Inc employed 21 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prime Coalition Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2023, Prime Coalition Inc generated $9.9m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 30.9% each year . All expenses for the organization totaled $10.5m during the year ending 12/2023. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
UNLOCK CATALYTIC CAPITAL AND CHANGE THE FUTURE OF CLIMATE FINANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
(A) CATALYTIC INVESTING: MOBILIZED OVER $315MM IN CATALYTIC CAPITAL IN PARTNERSHIP WITH 247 PHILANTHROPIC ORGS TO BACK 32 EARLY-STAGE VENTURES VIA PRIME IMPACT FUND & AZOLLA VENTURES. EACH VENTURE HOLDS THE PROMISE TO MITIGATE GIGATON-SCALE CO2-EQUIVALENT EMISSIONS BY 2050 WHEN DEPLOYED AT COMMERCIAL SCALE. A NEW PROGRAM, TRELLIS CLIMATE, AIMS TO ADDRESS SYSTEMIC CLIMATE CHANGE MITIGATION BARRIERS, ENABLING NOVEL CLIMATE SOLUTIONS TO ACHIEVE SCALE WITH SPEED. (B) IMPACT ACCOUNTABILITY: WORKS TO SUPPORT THE WHOLE FIELD OF EARLY-STAGE CLIMATE INVESTORS WITH FORWARD-LOOKING IMPACT ASSESSMENT & ACCOUNTABILITY TOOLS: CRANE, AN OPEN-SOURCE TOOL SUPPORTING "EMISSIONS REDUCTION POTENTIAL" CALCULATIONS; PROJECT FRAME, GALVANIZING INVESTORS AROUND CLIMATE IMPACT STANDARDS & BEST PRACTICES FOR ASSESSMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sarah Kearney Executive Director | OfficerTrustee | 45 | $278,065 |
Margot Brown Director (as Of 07/18/23) | Trustee | 0.5 | $0 |
Lubna Elia Director | Trustee | 0.5 | $0 |
Jeff Mccarthy Director | Trustee | 0.5 | $0 |
Alicia Seiger Director | Trustee | 0.5 | $0 |
Nicole Systrom Director | Trustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rho Impact Inc Software Development And Project Support | 12/30/23 | $490,546 |
Alliance For Sustainable Energy Llc Contractor | 12/30/23 | $271,200 |
Lionspride Assistant Llc Executive Assistance | 12/30/23 | $238,233 |
Rsm Us Llp Auditor/tax Prep | 12/30/23 | $185,880 |
Kelsey Litwin Contractor | 12/30/23 | $103,500 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,175,405 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,175,405 |
| Total Program Service Revenue | $250,000 |
| Investment income | $587,461 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,932,163 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $250,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,092,200 |
| Compensation of current officers, directors, key employees. | $297,483 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,128,218 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $95,353 |
| Payroll taxes | $164,057 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $24,431 |
| Fees for services: Accounting | $165,615 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $836,380 |
| Fees for services: Other | $2,087,043 |
| Advertising and promotion | $32,728 |
| Office expenses | $158,291 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $99,154 |
| Travel | $301,308 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,495 |
| Interest | $4,075,061 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $9,784 |
| All other expenses | $17,711 |
| Total functional expenses | $10,541,829 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,258,326 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $771,856 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $59,877,435 |
| Intangible assets | $0 |
| Other assets | $33,659 |
| Total assets | $94,941,276 |
| Accounts payable and accrued expenses | $134,767 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $36,183,311 |
| Total liabilities | $36,318,078 |
| Net assets without donor restrictions | $33,327,063 |
| Net assets with donor restrictions | $25,296,135 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $94,941,276 |
Grants Awarded
Over the last fiscal year, Prime Coalition Inc has awarded $252,200 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
OPUS 12 INC PURPOSE: TO SUPPORT GRANTEE'S DEVELOPMENT, DISSEMINATION, AND COMMERCIALIZATION OF THE COMPANY'S TECHNOLOGY TO SUPPORT THE PROTECTION AND PRESERVATION OF NATURAL RESOURCES AND MITIGATION OF THE ADVERSE ENVIRONMENTAL IMPACTS OF CLIMATE CHANGE. | $10,200 |
LILAC SOLUTIONS INC PURPOSE: TO SUPPORT GRANTEE'S DEVELOPMENT, DISSEMINATION, AND COMMERCIALIZATION OF THE COMPANY'S TECHNOLOGY TO SUPPORT THE PROTECTION AND PRESERVATION OF NATURAL RESOURCES AND MITIGATION OF THE ADVERSE ENVIRONMENTAL IMPACTS OF CLIMATE CHANGE. | $100,000 |
MALLINDA INC PURPOSE: TO SUPPORT GRANTEE'S DEVELOPMENT, DISSEMINATION, AND COMMERCIALIZATION OF THE COMPANY'S TECHNOLOGY TO SUPPORT THE PROTECTION AND PRESERVATION OF NATURAL RESOURCES AND MITIGATION OF THE ADVERSE ENVIRONMENTAL IMPACTS OF CLIMATE CHANGE. | $142,000 |