Clearpath Inc
- Assets
- $9.7m
- Revenue
- $12.6m
- Investments
- $0.0
- Employees
- 32
- Location
- Washington, DC
- Founding
- 08/2018
- Data as of
- 12/2022
- EIN
- 82-5026325
Organization Overview
Clearpath Inc is located in Washington, DC. The organization was established in 2018. According to its NTEE Classification (C05) the organization is classified as: Research Institutes & Public Policy Analysis, under the broad grouping of Environment and related organizations. As of 12/2022, Clearpath Inc employed 32 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clearpath 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 12/2022, Clearpath Inc generated $12.6m in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 62.9% each year . All expenses for the organization totaled $10.5m during the year ending 12/2022. While expenses have increased by 58.6% per year over the past 5 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 2020, Clearpath Inc has awarded 15 individual grants totaling $914,125. 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CLEARPATH'S MISSION IS TO DEVELOP AND ADVANCE POLICIES THAT ACCELERATE INNOVATIONS TO REDUCE AND REMOVE GLOBAL ENERGY EMISSIONS. TO ADVANCE THAT MISSION, WE DEVELOP CUTTING-EDGE POLICY SOLUTIONS ON CLEAN ENERGY AND INDUSTRIAL INNOVATION. AN ENTREPRENEURIAL, STRATEGIC NONPROFIT, CLEARPATH COLLABORATES WITH PUBLIC AND PRIVATE SECTOR STAKEHOLDERS ON INNOVATIONS IN NUCLEAR ENERGY, CARBON CAPTURE, HYDROPOWER, NATURAL GAS, GEOTHERMAL, ENERGY STORAGE, AND HEAVY INDUSTRY TO ENABLE PRIVATE-SECTOR DEPLOYMENT OF CRITICAL TECHNOLOGIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard J Powell Director, Exec. Dir. Treas | OfficerTrustee | 50 | $655,223 |
Sloane M Carlough Secretary | OfficerTrustee | 1 | $0 |
Rich Thau Director | Trustee | 1 | $0 |
Sam Mar Director | Trustee | 1 | $0 |
Jeremy B Harrell Chief Strategy Officer | Officer | 50 | $467,562 |
Lucas J Bolar Chief External Affairs Officer | Officer | 50 | $418,139 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
James Connaughton Advisory Services | 12/30/22 | $182,769 |
Pillsbury Winthrop Shaw Pittman Llp Policy/strategy Consulting | 12/30/22 | $180,083 |
Rhodium Group Research & Polling | 12/30/22 | $126,423 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $2,712,196 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $9,895,618 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $12,607,814 |
| Total Program Service Revenue | $0 |
| Investment income | $3,451 |
| 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 | $12,615,651 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $289,000 |
| 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. | $2,016,933 |
| Compensation of current officers, directors, key employees. | $422,241 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,721,203 |
| Pension plan accruals and contributions | $161,908 |
| Other employee benefits | $178,643 |
| Payroll taxes | $341,760 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $38,186 |
| Fees for services: Accounting | $78,238 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $749,560 |
| Advertising and promotion | $50,266 |
| Office expenses | $360,499 |
| Information technology | $188,507 |
| Royalties | $0 |
| Occupancy | $211,127 |
| Travel | $311,564 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,220,966 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $94,550 |
| Insurance | $9,041 |
| All other expenses | $127,103 |
| Total functional expenses | $10,532,083 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $4,849,625 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,966,817 |
| 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 | $276,466 |
| Net Land, buildings, and equipment | $722,678 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,861,608 |
| Total assets | $9,677,194 |
| Accounts payable and accrued expenses | $1,414,861 |
| 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 | $2,328,567 |
| Total liabilities | $3,743,428 |
| Net assets without donor restrictions | $3,298,714 |
| Net assets with donor restrictions | $2,635,052 |
| 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 | $9,677,194 |
Grants Awarded
Over the last fiscal year, Clearpath Inc has awarded $289,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
CONSERVATIVE CLIMATE FOUNDATION INC PURPOSE: ANNUAL SUPPORT | $250,000 |
THE TRUSTEES OF PRINCETON UNIVERSITY PURPOSE: TO SUPPORT SCHOLARLY ACTIVITY IN THE GENERAL AREA | $10,000 |
THE WATERFALL FOUNDATION PURPOSE: DONATION FOR CHARITY EVENT | $19,000 |
UNITED STATES CAPITOL HISTORICAL SOCIETY PURPOSE: DONATION FOR PORTRAIT FUND | $10,000 |