Larsen-Lam Climate Change Foundation
- Assets
- $50.0m
- Revenue
- $16.5m
- Investments
- $10.6m
- Employees
- 0
- Location
- San Francisco, CA
- Founding
- Data as of
- 11/2023
- EIN
- 85-4312409
Organization Overview
Larsen-Lam Climate Change Foundation is located in San Francisco, CA. According to its NTEE Classification (C35) the organization is classified as: Energy Resources Conservation & Development, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Larsen-Lam Climate Change Foundation 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 11/2023, Larsen-Lam Climate Change Foundation generated $16.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (32.1%) each year. All expenses for the organization totaled $3.6m during the year ending 11/2023. As we would expect to see with falling revenues, expenses have declined by (38.4%) per year over the past 3 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990PF
Mission & Program ActivityExcerpts From the 990PF Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION IS WORKING TO COMBAT CLIMATE CHANGE THROUGH THE SPREAD OF INFORMATION ON THE WEBSITE WWW.CLEANUPBITCOIN.COM. THE GOAL IS TO EDUCATE CURRENT AND FUTURE CRYPTOCURRENCY USERS OF THE POLLUTION CAUSED FROM TRADITIONAL BITCOIN MINING, WHICH CAN POTENTIALLY BE NEGATED THROUGH THE ALTERING OF THE BITCOIN CODE. THE FOUNDATION IS WORKING WITH THE EARTH GENOME AND FENTON ARLOOK TO CLEAN UP THE BITCOIN CODE.
THE FOUNDATION IS WORKING WITH CLIMEWORKS TO REDUCE THE CARBON FOOTPRINT AND TO REMOVE HISTORIC AMOUNTS OF EMISSIONS FROM THE AIR. CLIMEWORKS USES A TECHNOLOGY CALLED 'DIRECT AIR CAPTURE' TO CAPTURE CARBON DIOXIDE DIRECTLY FROM THE AIR. WHEN THE REMOVED AIR IS COMBINED WITH UNDERGROUND STORAGE, IT ALLOWS THE PERMANENT REMOVAL OF EXCESS AND LEGACY CO2 EMISSIONS, WHICH CAN NO LONGER CONTRIBUTE TO CLIMATE CHANGE. THE FOUNDATION HAS ORDERED 300 TONS OF CARBON DIOXIDE TO BE REMOVED FROM THE AIR AND PERMANENTLY STORED.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christian A Larsen Director Secretary | 30 | $0 | |
Bora Lam Treasurer | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Michael Brune | 11/29/23 | $701,356 |
Ken Kurson | 11/29/23 | $366,859 |
Davis Wright Tremaine Llp | 11/29/23 | $92,923 |
Frank Rimerman Co | 11/29/23 | $50,850 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Contributions, Gifts, Grants & Similar | $14,357,766 |
| Interest on Savings | $234,594 |
| Dividends & Interest | $34,996 |
| Net Rental Income | $0 |
| Net Gain on Sale of Assets | $1,902,821 |
| Capital Gain Net Income | $14,834,164 |
| Net ST Capital Gain | $14,583 |
| Income Modifications | $0 |
| Profit on Inventory Sales | $0 |
| Other Income | $0 |
| Total Revenue | $16,530,177 |
| Statement of Expenses | |
|---|---|
| Compensation of officers, directors, trustees, etc | $0 |
| Other employee salaries and wages | $0 |
| Pension plans, employee benefits | $0 |
| Interest | $0 |
| Taxes | $209,942 |
| Depreciation | $0 |
| Occupancy | $0 |
| Travel, conferences, and meetings | $0 |
| Printing and publications | $0 |
| Other expenses | $2,175,805 |
| Total operating and administrative expenses | $3,600,352 |
| Contributions, gifts, grants paid | $0 |
| Total expenses and disbursements | $3,600,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,003,958 |
| Savings and temporary cash investments | $7,161,927 |
| Net Accounts receivable | $0 |
| Net Pledges Receivable | $0 |
| Grants receivable | $0 |
| Receivables from Officers, Directors, or Controlling Persons | $0 |
| Net other notes and loans receivable | $440,284 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Investments - land, buildings, equipment | $0 |
| Investments—mortgage loans | $0 |
| Investments—other | $5,583,502 |
| Net Land, buildings, and equipment | $0 |
| Other assets | $30,739,999 |
| Total assets | $49,958,822 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Mortgages and other notes payable | $0 |
| Other liabilities | $188,514 |
| Total liabilities | $188,514 |
Grants Awarded
Over the last fiscal year, Larsen-Lam Climate Change Foundation has awarded $14,215,500 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
RMI PURPOSE: ENVIRONMENT | $10,135,200 |
ARTS HELP PURPOSE: ENVIRONMENT | $3,976,709 |
ARTS HELP PURPOSE: ENVIRONMENT | $103,591 |