Verra
- Assets
- $47.9m
- Revenue
- $29.8m
- Investments
- $0.0
- Employees
- 100
- Location
- Washington, DC
- Founding
- 12/2015
- Data as of
- 12/2023
- EIN
- 27-0566795
Organization Overview
Verra is located in Washington, DC. The organization was established in 2015. According to its NTEE Classification (C20) the organization is classified as: Pollution Abatement & Control, under the broad grouping of Environment and related organizations. As of 12/2023, Verra employed 100 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Verra 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, Verra generated $29.8m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 30.3% each year . All expenses for the organization totaled $39.1m during the year ending 12/2023. While expenses have increased by 36.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
VERRA SETS THE WORLD'S LEADING STANDARDS FOR CLIMATE ACTION AND SUSTAINABLE DEVELOPMENT.
Describe the Organization's Program Activity:
Part 3 - Line 4a
VCS PROGRAM: THE VERIFIED CARBON STANDARD (VCS) PROGRAM CERTIFIES PROJECTS THAT REDUCE AND REMOVE GREENHOUSE GAS EMISSIONS. PROJECTS UNDERGO A RIGOROUS DEVELOPMENT AND ASSESSMENT PROCESS BEFORE APPLYING FOR REGISTRATION WITH THE VCS PROGRAM. PROJECTS ARE ISSUED WITH VERIFIED CARBON UNITS WHICH THEY CAN USE TO FINANCE THEIR ACTIVITIES.
CCB PROGRAM: THE CLIMATE COMMUNITY AND BIODIVERSITY (CCB) STANDARDS PROGRAM CERTIFIES PROJECTS THAT SIMULTANEOUSLY ADDRESS CLIMATE CHANGE, SUPPORT LOCAL COMMUNITIES AND SMALLHOLDERS, AND CONSERVE BIODIVERSITY. THE CCB STANDARDS ARE OFTEN USED IN CONJUNCTION WITH VCS PROGRAM-CERTIFIED LAND MANAGEMENT PROJECTS, INCLUDING REFORESTATION, AFFORESTATION, VEGETATION, FOREST RESTORATION, AGROFORESTRY AND SUSTAINABLE AGRICULTURE PROJECTS.
SDVISTA PROGRAM: THE SUSTAINABLE DEVELOPMENT VERIFIED IMPACT STANDARD (SD VISTA) IS A FRAMEWORK FOR ASSESSING AND REPORTING ON THE SUSTAINABLE DEVELOPMENT BENEFITS OF PROJECT-BASED ACTIVITIES. IT HELPS UNLOCK NEW SOURCES OF FINANCE TO SUPPORT AND SCALE UP HIGH-IMPACT EFFORTS THAT ALIGN WITH THE UNITED NATIONS' SUSTAINABLE DEVELOPMENT GOALS (SDGS).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kenneth Markowitz Chair (mar-Dec) | OfficerTrustee | 4 | $0 |
Tao Yun Chair (jan-Mar) | OfficerTrustee | 4 | $0 |
Anne-Marie Warris Vice Chair (jan-Mar) | OfficerTrustee | 2 | $0 |
Jim Cannon Vice Chair (mar-Dec) | OfficerTrustee | 2 | $0 |
Dirk Forrister Board Member | Trustee | 1 | $0 |
Mark Kenber Board Member | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Globalization Partners Professional Employment Services | 12/30/23 | $11,786,217 |
Levelup Hcs Llc Co Access Capital Inc Recruitment Outsourcing Services | 12/30/23 | $686,124 |
Concision Global Consulting Llc Leadership Advisory Services | 12/30/23 | $578,213 |
Apx Inc Design & Maintain In-house Registry | 12/30/23 | $1,991,066 |
Browning Environmental Communications Ll Communications Management Services | 12/30/23 | $569,959 |
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 | $16,137 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $16,137 |
| Total Program Service Revenue | $28,157,921 |
| Investment income | $1,630,873 |
| 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 | $29,804,931 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $2,491,594 |
| Compensation of current officers, directors, key employees. | $563,691 |
| Compensation to disqualified persons | $426,983 |
| Other salaries and wages | $13,816,300 |
| Pension plan accruals and contributions | $568,045 |
| Other employee benefits | $3,221,945 |
| Payroll taxes | $657,411 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,813,406 |
| Fees for services: Accounting | $47,894 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,599,224 |
| Advertising and promotion | $0 |
| Office expenses | $2,551,367 |
| Information technology | $411,369 |
| Royalties | $0 |
| Occupancy | $281,945 |
| Travel | $1,236,666 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $898,819 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $306,431 |
| Insurance | $188,597 |
| All other expenses | $0 |
| Total functional expenses | $39,109,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $681,293 |
| Savings and temporary cash investments | $41,791,100 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,586,364 |
| 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 | $2,225,250 |
| Net Land, buildings, and equipment | $329,538 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $285,725 |
| Total assets | $47,899,270 |
| Accounts payable and accrued expenses | $4,226,287 |
| 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 | $310,526 |
| Total liabilities | $4,536,813 |
| Net assets without donor restrictions | $43,362,457 |
| Net assets with donor restrictions | $0 |
| 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 | $47,899,270 |
Grants Awarded
Over the last fiscal year, Verra has awarded $371,657 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
RAINFOREST ALLIANCE PURPOSE: Develop Pilots in the Landscale project | $265,873 |
WORLD RESOURCES INSTITUTE (WRI) PURPOSE: Initiative for Climate Action Transparency (ICAT) | $95,850 |
CONSERVATION INTERNATIONAL PURPOSE: Initiative for Climate Action Transparency (ICAT) | $9,934 |