Regional Greenhouse Gas Initiative Inc
- Assets
- $2.1m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 6
- Location
- New York, NY
- Founding
- 01/2008
- Data as of
- 12/2023
- EIN
- 35-2316710
Organization Overview
Regional Greenhouse Gas Initiative Inc is located in New York, NY. The organization was established in 2008. 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, Regional Greenhouse Gas Initiative Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Regional Greenhouse Gas 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 12/2023, Regional Greenhouse Gas Initiative Inc generated $2.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $2.4m during the year ending 12/2023. While expenses have increased by 1.5% per year over the past 7 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
PROVIDES TECHNICAL AND SCIENTIFIC ADVISORY SERVICES TO STATES OF THE U.S.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TECHNICAL ANALYSIS & EVALUATION: AS CALLED FOR IN THE ORIGINAL RGGI MEMORANDUM OF UNDERSTANDING, THE PARTICIPATING STATES CONDUCTED A PROGRAM REVIEW OF THE CO2 BUDGET TRADING PROGRAMS. PROPOSED AMENDMENTS TO THE PROGRAM HAVE BEEN INCORPORATED IN AN UPDATED MODEL RULE (RELEASED ON FEBRUARY 7, 2013) THAT WILL GUIDE EACH STATE AS IT FOLLOWS ITS OWN STATUTORY AND/OR REGULATORY PROCEDURES TO PROPOSE UPDATES TO ITS CO2 BUDGET TRADING PROGRAM. A RIGOROUS AND COMPREHENSIVE EVALUATION OF THE REGIONAL GREENHOUSE GAS INITIATIVE, SUPPORTED BY AN EXTENSIVE REGIONAL STAKEHOLDER PROCESS THAT ENGAGED THE REGULATED COMMUNITY, ENVIRONMENTAL NONPROFITS, CONSUMER AND INDUSTRY ADVOCATES, AND OTHER INTERESTED STAKEHOLDERS. EXPENSES INCLUDE TECHNICAL ANALYSIS TO SUPPORT PROGRAM REVIEW AND EVALUATION.
MARKET MONITORING ($298,446): DEVELOPED TECHNIQUES TO MONITOR MARKET ACTIVITY WHICH RESULTED IN QUARTERLY REPORTS OF MARKET ACTIVITY.OTHER DIRECT EXPENSE INCLUDING PERSONNEL AND OTPS ($819,119).
AUCTIONS: PROVIDED TECHNICAL SUPPORT TO STATES IN THE DEVELOPMENT AND EXECUTION OF AUCTION PLATFORMS FOR ALLOWANCES TO EMIT CARBON DIOXIDE. THIS RESULTED IN PUBLICATION OF AUCTION NOTICES AND MATERIALS.
EMISSIONS ALLOWANCE TRACKING SYSTEM: MAINTAINED A DATABASE, USERS GUIDE, AND PUBLIC REPORTING CAPABILITY TO TRACK EMISSIONS AND ALLOWANCE TRANSFERS. THIS SYSTEM IS AVAILABLE AT WWW.RGGI.ORG
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katie Dykes Board Chair | OfficerTrustee | 5 | $0 |
Serena Mcilwain Vice Chair | OfficerTrustee | 5 | $0 |
Jon Binder Secretary | OfficerTrustee | 5 | $0 |
Philip Bartlett Treasurer | OfficerTrustee | 5 | $0 |
Mariussa Gillett Board Member | Trustee | 5 | $0 |
Shawn Garvin Board Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Icf Resources Technical Analysis And Evaluation | 12/30/23 | $340,736 |
World Energy Solutions Inc Auction Services | 12/30/23 | $310,000 |
Potomac Economics Ltd Market Monitoring/consulting | 12/30/23 | $282,985 |
Systems Research And Applications Inc Allowance Tracking | 12/30/23 | $273,129 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,408,343 |
| Investment income | $8,114 |
| 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 | $2,416,457 |
| 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. | $262,126 |
| Compensation of current officers, directors, key employees. | $60,283 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $459,309 |
| Pension plan accruals and contributions | $46,220 |
| Other employee benefits | $91,665 |
| Payroll taxes | $39,884 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $16,634 |
| Fees for services: Accounting | $84,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $28,100 |
| Advertising and promotion | $0 |
| Office expenses | $7,697 |
| Information technology | $21,899 |
| Royalties | $0 |
| Occupancy | $62,219 |
| Travel | $8,843 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,889 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,731 |
| Insurance | $14,255 |
| All other expenses | $11,297 |
| Total functional expenses | $2,408,343 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $339,228 |
| Savings and temporary cash investments | $1,535,579 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,112 |
| 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 | $38,695 |
| Net Land, buildings, and equipment | $2,187 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $205,030 |
| Total assets | $2,123,831 |
| Accounts payable and accrued expenses | $183,281 |
| Grants payable | $0 |
| Deferred revenue | $1,625,374 |
| 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 | $251,926 |
| Total liabilities | $2,060,581 |
| Net assets without donor restrictions | $63,250 |
| 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 | $2,123,831 |