Rare Inc
- Assets
- $40.5m
- Revenue
- $30.9m
- Investments
- $0.0
- Employees
- 102
- Location
- Arlington, VA
- Founding
- 09/1985
- Data as of
- 09/2023
- EIN
- 23-7380563
Organization Overview
Rare Inc is located in Arlington, VA. The organization was established in 1985. As of 09/2023, Rare Inc employed 102 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Rare 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 09/2023, Rare Inc generated $30.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.4% each year. All expenses for the organization totaled $32.1m during the year ending 09/2023. While expenses have increased by 3.9% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Rare Inc has awarded 30 individual grants totaling $2,443,276. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
RARE INSPIRES CHANGE SO PEOPLE AND NATURE THRIVE.
Describe the Organization's Program Activity:
COASTAL FISHERIES MANAGEMENT - RARE'S FISH FOREVER PROGRAM IS A GLOBAL LEADER IN REDUCING COASTAL OVERFISHING AND REVITALIZING COASTAL FISHERIES. THROUGH A GLOBAL NETWORK OF 100 STAFF AND OVER 150 LOCAL PARTNERS, FISH FOREVER MOBILIZES AND STRENGTHENS COMMUNITY-LED MANAGEMENT OF COASTAL FISHERIES. FISH FOREVER'S REPLICABLE MODEL IS ROOTED IN BEHAVIORAL SCIENCE TO ENSURE PEOPLE-CENTERED STRATEGIES FOR PROMOTING RESPONSIBLE FISHING BEHAVIOR AMONG LOCAL FISHERS ENDURE.
CENTER FOR BEHAVIOR AND THE ENVIRONMENT
CLIMATE CULTURE - RARE'S CLIMATE CULTURE PROGRAM IS DESIGNED TO SHIFT THE SOCIAL NORMS AND EXPECTATIONS AROUND KEY INDIVIDUAL BEHAVIORS WITH THE GREATEST POTENTIAL FOR REDUCING CARBON EMISSIONS. THROUGH CLIMATE CULTURE, RARE EQUIPS AND ENGAGES THE COMMUNITIES, CREATORS, AND PARTNERS WHO HAVE THE POWER TO SHIFT CULTURE WITH INSIGHTS AND TOOLS TO MAKE A CLIMATE-FRIENDLY LIFESTYLE MORE POPULAR, APPEALING, AND EASIER TO ADOPT. CLIMATE CULTURE'S ENTERTAINMENT LAB IS PARTNERING WITH MAJOR HOLLYWOOD STUDIOS TO ADD CLIMATE-FOCUSED "BEHAVIOR PLACEMENT" INTO STORYLINES OF MAINSTREAM SHOWS AND FILMS WHILE BUILDING PATHWAYS THROUGH IMPACT MARKETING TO DRIVE AUDIENCES FROM SCREEN TO ACTION. OUR SOCIAL MEDIA LAB DESIGNS AND TESTS EFFECTIVE CLIMATE SOLUTION MESSAGING AND CAMPAIGNS ON SOCIAL MEDIA, THEN WORKS WITH CREATORS, PARTNERS, AND PLATFORMS WITH THE SOCIAL FOLLOWING TO SHIFT NORMS EFFECTIVELY. CLIMATE CULTURE COMMUNITY IS WORKING IN BOSTON, MASSACHUSETTS, TO ENSURE THE CLEAN ENERGY REVOLUTION IS ACCESSIBLE TO ALL. RARE DESIGNED AND MAINTAINS AN ONGOING CLIMATE CULTURE INDEX TO STUDY HIGH-IMPACT BEHAVIORS INCLUDING THE CONSUMER BEHAVIORS INCENTIVIZED BY THE INFLATION REDUCTION ACT.
CONSERVATION FINANCE - WHERE TRADITIONAL FINANCIAL APPROACHES AND INSTRUMENTS FAIL, INNOVATIVE FINANCE BRIDGES THE GAP. RARE'S INNOVATIVE FINANCE BUILDS RESILIENCE TO BOTH FINANCIAL SHOCKS AND CLIMATE CHANGE IN UNDERSERVED, RURAL, AND REMOTE COMMUNITIES. THE PROGRAM USES A THREE-PRONGED APPROACH TO PROTECT VITAL ECOSYSTEMS AND BENEFIT LOCAL ECONOMIES, BY DE-RISKING INVESTMENTS, ADVANCING NATURE-BASED SOLUTIONS, AND BUILDING SUSTAINABLE LOCAL ECONOMIES WITH PATHWAYS TO THE FORMAL ECONOMY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brett Jenks CEO | OfficerTrustee | 40 | $547,761 |
Dorothy Batten Chair | OfficerTrustee | 3.5 | $0 |
Lizanne Galbreath Treasurer | OfficerTrustee | 2.5 | $0 |
Tom Patterson Vice Chair | OfficerTrustee | 2.5 | $0 |
Sarah Stein Greenberg Secretary | OfficerTrustee | 2.5 | $0 |
Scott Amero Trustee | Trustee | 2.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Deliberate Capital Llc Management Services For Meloy Fund Lp | 9/29/23 | $1,110,414 |
Main Street One Inc Ad Placement Services | 9/29/23 | $548,814 |
Dalberg Consulting Us Llc Fisheries Consulting | 9/29/23 | $453,000 |
Lathrop Gpm Legal Consultant | 9/29/23 | $198,562 |
Kito Global Managing Carbon Catch & Climate Projects | 9/29/23 | $365,856 |
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 | $28,724,191 |
| Noncash contributions included in lines 1a–1f | $125,296 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $28,724,191 |
| Total Program Service Revenue | $399,699 |
| Investment income | $450,768 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$524,692 |
| Net Gain/Loss on Asset Sales | -$31,865 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $30,861,609 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $166,169 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $155,400 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $4,009,548 |
| Compensation of current officers, directors, key employees. | $367,986 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,566,870 |
| Pension plan accruals and contributions | $1,099,463 |
| Other employee benefits | $3,009,487 |
| Payroll taxes | $1,252,429 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $396,686 |
| Fees for services: Accounting | $299,383 |
| Fees for services: Lobbying | $44,550 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,995 |
| Fees for services: Other | $5,354,955 |
| Advertising and promotion | $1,045,289 |
| Office expenses | $252,447 |
| Information technology | $624,164 |
| Royalties | $0 |
| Occupancy | $773,273 |
| Travel | $1,143,245 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $555,742 |
| Interest | $5,573 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,824 |
| Insurance | $139,220 |
| All other expenses | $0 |
| Total functional expenses | $32,077,336 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,195,190 |
| Savings and temporary cash investments | $3,601,555 |
| Pledges and grants receivable | $17,066,744 |
| 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 | $641,524 |
| Net Land, buildings, and equipment | $13,114 |
| Investments—publicly traded securities | $9,023,202 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,986,268 |
| Total assets | $40,527,597 |
| Accounts payable and accrued expenses | $4,066,535 |
| Grants payable | $0 |
| Deferred revenue | $5,027,335 |
| 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 | $4,407,165 |
| Total liabilities | $13,501,035 |
| Net assets without donor restrictions | $10,300,594 |
| Net assets with donor restrictions | $16,725,968 |
| 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 | $40,527,597 |
Grants Awarded
Over the last fiscal year, Rare Inc has awarded $154,489 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
BLUE SOURCE LLC PURPOSE: CARBON OFFSETS | $21,750 |
THE NATURE CONSERVANCY PURPOSE: COOPERATIVE AGREEMENT FROM SECRETARY OF STATE FOR FOREING COMMONWEALTH AND DEVELOPMENT AFFAIRS, FCDO UK PACT FUNDING FOR THE PROJECT "CO2000917 ADOPTING NEW TECHNOLOGY, MINDSETS, AND PRACTICES TO TRANSFORM COLOMBIA'S AGRICULTURAL SECTOR" | $85,639 |
WILDAID INC PURPOSE: ADVANCING RIGHTS BASED CO-MANAGEMENT OF COASTAL FISHERIES IN FMA PHILIPPINES | $37,500 |
EVERLAND LLC PURPOSE: CARBON OFFSETS | $9,600 |