Circulate Initiative Inc
- Assets
- $3.2m
- Revenue
- $3.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Iselin, NJ
- Founding
- Data as of
- 12/2021
- EIN
- 83-4505154
Organization Overview
Circulate Initiative Inc is located in Iselin, NJ. According to its NTEE Classification (C01) the organization is classified as: Alliances & Advocacy, 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. Circulate Initiative 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 12/2021, Circulate Initiative Inc generated $3.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (15.9%) each year. All expenses for the organization totaled $4.0m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION'S PURPOSE IS TO TARGET THE REDUCTION OF OCEAN PLASTICS AND RELATED ENVIRONMENTAL POLLUTION AND COMBATING ENVIRONMENTAL DETERIORATION BY CONDUCTING ACTIVITY IN SOUTH AND SOUTH EAST EASIA THROUGH THREE OF ITS CORE STRATEGIES: INCUBATION AND TECHNICAL ASSISTANCE; IMPACT MEASUREMENT AND KNOWLEDGE MANAGEMENT; AND AMPLIFICATION AND AWARENESS BUILDING IN FURTHERANCE OF THE SOCIAL AND ENVIRONMENTAL IMPACTS OF REDUCING THE AMOUNT OF PLASTIC ENTERING THE ENVIRONMENT AND CREATING ECONOMIC VALUE FOR MARGINALIZED LOCAL COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENCOURAGE MORE AND BETTER BUSINESSES AND ENTREPRENEURS TO BE INVOLVED IN THE CIRCULAR ECONOMY IN EMERGING COUNTRIES, SUPPORT THEM AS THEY DEVELOP THEIR BUSINESSES AND CREATE THE ENABLING CONDITIONS THEY NEED TO SUCCEED.
TO PROVIDE ENTREPRENEURS, POLICYMAKERS, AND INVESTORS WITH THE KNOWLEDGE AND SKILLS THEY NEED TO INCENTIVIZE, CREATE, SUPPORT AND OPERATE PLASTIC WASTE-REDUCING, INCLUSIVE, CIRCULAR ECONOMIES.
PROVIDE DECISIONMAKERS, INVESTORS, AND BUSINESSES WITH KNOWLEDGE, INSPIRATION, NETWORKS AND RESOURCES TO REPLICATE AND SCALE SUCCESSES.
PROVIDE FIELD-LEADING TOOLS AND METRICS THAT ALLOW STAKEHOLDERS TO UNDERSTAND THE OCEAN PLASTIC PROBLEM, SET BASELINES AND TARGETS, AND TRACK THE ENVIRONMENTAL AND SOCIAL IMPACTS OF THEIR INTERVENTIONS TO MAKE BETTER DECISIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Sadowski Executive Director And Board Member | Trustee | 1 | $81,100 |
Khunapong Khunaraksa Director Of Operations And Strategy | Officer | 40 | $44,600 |
Ariel Muller Board Member/treasurer | OfficerTrustee | 1 | $0 |
Jeep Kline Board Member | Trustee | 1 | $0 |
Todd Khozein - Departed Nov 2021 Board Member | Trustee | 1 | $0 |
Robert Kaplan Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Second Muse Llc Consulting Services | 12/30/20 | $1,649,448 |
Rockefeller Philanthropy Advisors Consulting Services | 12/30/20 | $200,000 |
Ellen Martin Consulting Services | 12/30/20 | $185,047 |
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 | $3,896,351 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,896,351 |
| Total Program Service Revenue | $0 |
| Investment income | $276 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$3,463 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,893,164 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $275,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $100,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $131,754 |
| Compensation of current officers, directors, key employees. | $28,079 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $90,049 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $1,209 |
| Payroll taxes | $22,115 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $87,426 |
| Fees for services: Accounting | $89,929 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $3,120 |
| Advertising and promotion | $136,950 |
| Office expenses | $2,163 |
| Information technology | $3,469 |
| Royalties | $0 |
| Occupancy | $3,206 |
| Travel | $22,288 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $8,988 |
| All other expenses | $0 |
| Total functional expenses | $3,958,123 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,239,847 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $971,902 |
| 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 | $3,979 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,721 |
| Total assets | $3,225,449 |
| Accounts payable and accrued expenses | $702,833 |
| Grants payable | $0 |
| Deferred revenue | $223,394 |
| 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 | $0 |
| Total liabilities | $926,227 |
| Net assets without donor restrictions | $1,763,297 |
| Net assets with donor restrictions | $535,925 |
| 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 | $3,225,449 |
Grants Awarded
Over the last fiscal year, Circulate Initiative Inc has awarded $275,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: CONDUCT RESEARCH AND/OR PILOTS RELEVANT TO RETHINKING RECYCLING'S PROGRAM. PRODUCE INSIGHTS AND REPORTS THAT CAN BE USED TO ADVANCE KNOWLEDGE ABOUT EFFECTIVE SOLUTIONS TO ADDRESS PLASTIC POLLUTION IN THE ENVIRONMENT AMONG KEYACTORS, INCLUDING ENTREPRENEURS, GOVERNMENTS, CIVIL SOCIETY ORGANIZATIONS, GLOBAL CORPORATIONS AND PUBLIC AND PRIVATE INVESTORS | $200,000 |
Athens, GA PURPOSE: CONDUCT CIRCULARITY ASSESSMENT PROTOCOLS FOR THE URBAN OCEAN PROGRAM | $75,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Circulate Initiative Inc has recieved totaling $3,177,778.
| Awarding Organization | Amount |
|---|---|
Alliance To End Plastic Waste Inc Austin, TX PURPOSE: PROJECT FUNDING | $2,777,778 |
Impactassets Inc Bethesda, MD PURPOSE: GENERAL SUPPORT | $400,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Waterkeeper Alliance Inc New York, NY | $5,512,348 | $11,721,218 |
Circulate Initiative Inc Iselin, NJ | $3,225,449 | $3,893,164 |
Citizens For Pennsylvanias Future Harrisburg, PA | $3,509,129 | $2,508,656 |
West Harlem Environmental Action Inc New York, NY | $16,626,101 | $16,263,917 |
Pennsylvania Environmental Council Inc Pittsburgh, PA | $4,311,796 | $4,320,615 |
Sustainable Jersey Inc Ewing, NJ | $2,977,335 | $3,226,325 |
Pinelands Preservation Alliance Inc Southampton, NJ | $9,506,736 | $2,752,415 |
Clean Air Council Philadelphia, PA | $2,953,496 | $3,399,869 |
Project For Public Spaces Inc New York, NY | $985,831 | $2,895,436 |
Catskill Center For Conservation And Development Inc Arkville, NY | $7,000,138 | $2,362,917 |
North Shore Land Alliance Inc Oyster Bay, NY | $13,439,856 | $3,087,972 |
New York Public Interest Research Group Inc New York, NY | $588,268 | $1,960,144 |