Closed Loop Foundation
- Assets
- $456.2k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 1
- Location
- New York, NY
- Founding
- 11/2015
- Data as of
- 12/2021
- EIN
- 47-2452889
Organization Overview
Closed Loop Foundation is located in New York, NY. The organization was established in 2015. According to its NTEE Classification (C02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Closed Loop Foundation 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 12/2021, Closed Loop Foundation generated $150.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (10.1%) each year. All expenses for the organization totaled $162.1k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (18.0%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CLOSED LOOP FOUNDATION SUPPORTS RESEARCH AND DEVELOPMENT OF TECHNOLOGIES AND BUSINESS MODELS FOCUSED ON BUILDING THE CIRCULAR ECONOMY.
Describe the Organization's Program Activity:
Part 3
CLOSED LOOP FOUNDATION AND THE CENTER FOR THE CIRCULAR ECONOMY ENVISIONS A FUTURE WHERE POST-USE PLASTICS ARE REUSED OR TRANSFORMED INTO VALUABLE BUILDING BLOCKS FOR NEW MATERIALS. TO ADDRESS THE BARRIERS TO SCALING ADVANCED RECYCLING IN NORTH AMERICA, WE HAVE LAUNCHED AN 11-MONTH PROJECT TO PUBLISH AN ADVANCED RECYCLING INVESTOR AND PARTNERSHIPS ROADMAP BY DECEMBER 2020.
SUPPORTING RECYCLING WORKERS THRU COVID ASSISTANCE AND SUPPLIES
THE CLOSED LOOP FOUNDATION (CL FOUNDATION) IS AN INDEPENDENT 501(C)(3) SUPPORTED BY CLOSED LOOP PARTNERS THAT IS BUILDING AN INVESTMENT STRATEGY TO ADVANCE RECYCLING INFRASTRUCTURE IN PUERTO RICO. THE INITIAL EFFORT, WITH A PROJECT PERIOD OF SEPTEMBER 2018 TO JULY 2019, IS CO-FUNDED BY THE COCA-COLA FOUNDATION AND CONSISTS OF TWO STAGES: (I) MAPPING THE RELEVANT RECYCLABLE MATERIALS, STAKEHOLDERS, AND RECYCLING OPPORTUNITIES IN PUERTO RICO, AND (II) IDENTIFYING AND SELECTING ONE TO TWO PILOT PROJECTS THAT WILL DEMONSTRATE THE RECYCLING INVESTMENT OPPORTUNITY. CL FOUNDATION PLANS TO EXPAND THIS INITIAL EFFORT IN AMBITION AND SCOPE TO CREATE ADDITIONAL RECYCLING INVESTMENT OPPORTUNITIES AND DEMONSTRATION PROJECTS IN THE REGION WITH ADDITIONAL PARTNERS AND IN 2019 AND BEYOND.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kyle Westaway Director | 1 | $0 | |
Bridget Croke Secretary | 20 | $0 | |
Paul Macht Director | 1 | $0 | |
Erik Avni Treasurer | 1 | $0 | |
Ron Gonen Executive Dir. | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $150,000 |
| Total Program Service Revenue | $0 |
| Membership dues | $0 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $150,000 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $1,500 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $160,596 |
| Total expenses | $162,096 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $456,206 |
| Other assets | $0 |
| Total assets | $456,206 |
| Total liabilities | $150,000 |
| Net assets or fund balances | $306,206 |
Grants Awarded
Over the last fiscal year, Closed Loop Foundation has awarded $377,500 in support to 9 organizations.
| Grant Recipient | Amount |
|---|---|
GEORGIA TECH | | | $50,000 |
Indianapolis, IN | | $50,000 |
BIOWORKS ENERGY | | | $50,000 |
RENEWAL MILL | | | $50,000 |
PHILANTHEOPIC VENTURES FDTN | | | $50,000 |
FULL CYCLE BIOPLASTICS | | | $50,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
C40 Cities Climate Leadership Group Inc New York, NY | $35,030,897 | $45,171,282 |
Genesee Valley Conservancy Inc Geneseo, NY | $4,932,838 | $11,049,050 |
Wholesome Wave Inc Bridgeport, CT | $1,309,591 | $3,012,524 |
Urban Green Council New York, NY | $893,272 | $2,517,667 |
Compact Of Cape Cod Conservation Trusts Inc Barnstable, MA | $1,290,117 | $1,433,433 |
New York Water Environment Association Inc Syracuse, NY | $2,494,072 | $1,036,674 |
Climate Action Systems Inc Cambridge, MA | $258,711 | $94 |
Edward Street Day Care Center Inc Worcester, MA | $2,623,767 | $755,268 |
Onondaga Environmental Institute Inc Syracuse, NY | $238,896 | $590,427 |
Community Science Institute Inc Ithaca, NY | $100,245 | $369,625 |
Closed Loop Foundation New York, NY | $456,206 | $0 |
Paul F Brandwein Institute Inc Port Jervis, NY | $668,193 | $154,598 |