Prime Coalition Inc
- Assets
- $72.3m
- Revenue
- $20.9m
- Investments
- $0.0
- Employees
- 12
- Location
- Cambridge, MA
- Founding
- 09/2014
- Data as of
- 12/2021
- EIN
- 46-4621007
Organization Overview
Prime Coalition Inc is located in Cambridge, MA. The organization was established in 2014. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 12/2021, Prime Coalition Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Prime Coalition 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, Prime Coalition Inc generated $20.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 57.2% each year . All expenses for the organization totaled $5.0m during the year ending 12/2021. While expenses have increased by 46.1% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT SUSTAINABLE, EFFECTIVE, AND SCALABLE SOLUTIONS TO CLIMATE CHANGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
(A) AZOLLA VENTURES: A $200MM IMPACT-FIRST FUND THAT WAS SUBSTANTIATED, DESIGNED AND CONSTRUCTED BY PRIME IN 2020 AND HELD IT FIRST CLOSE IN 2021; DESIGNED TO CATALYZE TRANSFORMATIVE CLIMATE VENTURES AT THE EARLY STAGE AND PARTNER THROUGH IMPACT AT SCALE. (B) CRANE: A FREELY AVAILABLE ONLINE TOOL AND DATA SOURCE TO HELP ASSESS THE POTENTIAL FUTURE EMISSIONS REDUCTIONS OF NEW OR EARLY-STAGE CLIMATE SOLUTIONS. (C) EARLY CLIMATE INFRASTRUCTURE (ECI) PROGRAM: CHARACTERIZED AND SUBSTANTIATED ACTUE CAPITAL GAPS FOR CLIMATE INNOVATIONS THAT HAVE SHOWN PROMISE AT PRE-COMMERCIAL SCALE, BUT ARE NOT YET SUFFICIENTLY DE-RISKED FOR TRADITIONAL PROJECT FINANCING. THE PROGRAM IS CURRENTLY IN A DESIGN PHASE TO DETERMINE HOW CATALYTIC CAPITAL MIGHT HELP TO BRIDGE THESE GAPS TOWARD LARGE-SCALE GREENHOUSE GAS EMISSIONS MITIGATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew Nordan - Managing Dir (thru Oct 21) Director (thru Mar 21) | OfficerTrustee | 45 | $304,730 |
Karine Khatcherian Pisant Senior Advisor | 45 | $281,250 | |
Sarah Kearney Executive Director | OfficerTrustee | 45 | $210,167 |
Margaret H Cutts Director Of Partnerships | 45 | $172,341 | |
Johanna Wolfson - Principal (thru Oct 21) Director (from Mar 21) | Trustee | 45 | $122,708 |
Amy Duffuor Principal (thru Oct 21) | 45 | $122,261 |
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 | $19,737,565 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,737,565 |
| Total Program Service Revenue | $83,333 |
| Investment income | $49,208 |
| 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 | $20,923,996 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $187,000 |
| 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. | $574,792 |
| Compensation of current officers, directors, key employees. | $9,727 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $679,419 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $44,190 |
| Payroll taxes | $86,916 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $97,522 |
| Fees for services: Accounting | $140,413 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $212,026 |
| Fees for services: Other | $563,569 |
| Advertising and promotion | $7,239 |
| Office expenses | $57,521 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $125,493 |
| Travel | $38,790 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,665 |
| Interest | $2,099,403 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,825 |
| All other expenses | $0 |
| Total functional expenses | $5,007,766 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,772,750 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $2,332,135 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $49,220,613 |
| Intangible assets | $0 |
| Other assets | $21,200 |
| Total assets | $72,346,698 |
| Accounts payable and accrued expenses | $113,362 |
| 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 | $21,846,699 |
| Total liabilities | $21,960,061 |
| Net assets without donor restrictions | $34,075,195 |
| Net assets with donor restrictions | $16,311,442 |
| 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 | $72,346,698 |
Grants Awarded
Over the last fiscal year, Prime Coalition Inc has awarded $252,200 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
MALLINDA INC PURPOSE: TO SUPPORT GRANTEE'S DEVELOPMENT, DISSEMINATION, AND COMMERCIALIZATION OF THE COMPANY'S TECHNOLOGY TO SUPPORT THE PROTECTION AND PRESERVATION OF NATURAL RESOURCES AND MITIGATION OF THE ADVERSE ENVIRONMENTAL IMPACTS OF CLIMATE CHANGE. | $142,000 |
LILAC SOLUTIONS INC PURPOSE: TO SUPPORT GRANTEE'S DEVELOPMENT, DISSEMINATION, AND COMMERCIALIZATION OF THE COMPANY'S TECHNOLOGY TO SUPPORT THE PROTECTION AND PRESERVATION OF NATURAL RESOURCES AND MITIGATION OF THE ADVERSE ENVIRONMENTAL IMPACTS OF CLIMATE CHANGE. | $100,000 |
OPUS 12 INC PURPOSE: TO SUPPORT GRANTEE'S DEVELOPMENT, DISSEMINATION, AND COMMERCIALIZATION OF THE COMPANY'S TECHNOLOGY TO SUPPORT THE PROTECTION AND PRESERVATION OF NATURAL RESOURCES AND MITIGATION OF THE ADVERSE ENVIRONMENTAL IMPACTS OF CLIMATE CHANGE. | $10,200 |
Grants Recieved
Over the last fiscal year, we have identified 27 grants that Prime Coalition Inc has recieved totaling $14,104,924.
| Awarding Organization | Amount |
|---|---|
Chan Zuckerberg Initiative Foundation Palo Alto, CA PURPOSE: AZOLLA VENTURES | $5,000,000 |
Woka Foundation Newbury Park, CA PURPOSE: PRIME AZOLLA VENTURES | $1,775,000 |
Woka Foundation Newbury Park, CA PURPOSE: PRIME AZOLLA VENTURES | $1,550,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: HUMAN SERVICES | $1,005,000 |
Waverley Street Foundation Palo Alto, CA PURPOSE: GENERAL CHARITABLE PURPOSE | $1,000,000 |
Fourdoves Foundation New York, NY PURPOSE: GENERAL | $999,999 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Family And Childrens Association Garden City, NY | $18,906,082 | $21,671,282 |
Innocence Project Inc New York, NY | $73,728,840 | $39,853,614 |
The Access Agency Inc Willimantic, CT | $5,450,809 | $18,469,051 |
Ahavat Yisroel Humanity Inc Brooklyn, NY | $8,284,254 | $21,769,721 |
Family & Childrens Agency Inc Norwalk, CT | $7,156,227 | $18,049,898 |
Waypoint Manchester, NH | $32,573,224 | $19,134,809 |
Pro Action Of Steuben And Yates Inc Bath, NY | $5,623,306 | $16,689,499 |
Ibero-American Action League Inc Rochester, NY | $5,689,944 | $13,857,002 |
Capstone Community Action Inc Barre, VT | $12,760,181 | $16,370,682 |
Roxbury Tenants Of Harvard Association Inc Boston, MA | $107,579,482 | $10,061,394 |
Cfs Self-Directed Supports Inc New York, NY | $2,767,329 | $14,659,181 |
Mohawk Valley Community Action Agency Inc Utica, NY | $3,321,738 | $14,321,555 |