Civic Intelligence

Rare Inc.

990 • Fiscal year 2017 • EIN 23-7380563

Oct 01, 2016 to Sep 30, 2017 • Filed on May 31, 2018

1310 North Courthouse Rd No 110Arlington, VA 22201

(703) 522-5070

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

52nd percentile

0.28x

Higher debt load relative to assets than 52% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

44th percentile

0.24x

Higher debt load relative to revenue than 44% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

81st percentile

24%

Higher net margin than 81% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

81st percentile

$450,961

Higher top officer pay than 81% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

95th percentile

51%

Faster asset growth than 95% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

91st percentile

75%

Faster revenue growth than 91% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Up

$28,404,430

Up $9,653,437 (+51%) from 2016

Net Assets

Up

$20,490,544

Up $7,745,714 (+61%) from 2016

Liabilities

Up

$7,913,886

Up $1,907,723 (+32%) from 2016

Revenue

Up

$32,924,847

Up $14,066,721 (+75%) from 2016

Expenses

Up

$25,106,435

Up $1,493,553 (+6.3%) from 2016

Net Income

Up

$7,818,412

Up $12,573,168 (+264%) from 2016

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2013: $33,118,216Liabilities 2013: $7,631,481Net Assets 2013: $25,486,7352013Assets 2014: $27,484,294Liabilities 2014: $6,586,904Net Assets 2014: $20,897,3902014Assets 2015: $22,792,209Liabilities 2015: $5,378,713Net Assets 2015: $17,413,4962015Assets 2016: $18,750,993Liabilities 2016: $6,006,163Net Assets 2016: $12,744,8302016Assets 2017: $28,404,430Liabilities 2017: $7,913,886Net Assets 2017: $20,490,5442017Assets 2018: $36,181,516Liabilities 2018: $18,440,811Net Assets 2018: $17,740,7052018Assets 2019: $41,397,121Liabilities 2019: $12,842,431Net Assets 2019: $28,554,6902019Assets 2020: $36,999,177Liabilities 2020: $10,627,762Net Assets 2020: $26,371,4152020Assets 2021: $47,172,711Liabilities 2021: $11,577,944Net Assets 2021: $35,594,7672021Assets 2024: $35,089,126Liabilities 2024: $11,059,152Net Assets 2024: $24,029,9742024

Highlighted filing

2017

Assets$28,404,430
Liabilities$7,913,886
Net Assets$20,490,544

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$20M$0-$20MExpenses 2013: $18,130,0462013Revenue 2014: $16,832,932Expenses 2014: $21,373,417Net Income 2014: -$4,540,4852014Revenue 2015: $20,454,663Expenses 2015: $23,896,492Net Income 2015: -$3,441,8292015Revenue 2016: $18,858,126Expenses 2016: $23,612,882Net Income 2016: -$4,754,7562016Revenue 2017: $32,924,847Expenses 2017: $25,106,435Net Income 2017: $7,818,4122017Revenue 2018: $21,947,507Expenses 2018: $24,516,728Net Income 2018: -$2,569,2212018Revenue 2019: $37,606,393Expenses 2019: $26,926,873Net Income 2019: $10,679,5202019Revenue 2020: $22,917,080Expenses 2020: $25,180,754Net Income 2020: -$2,263,6742020Revenue 2021: $37,625,413Expenses 2021: $28,280,886Net Income 2021: $9,344,5272021Revenue 2024: $33,556,901Expenses 2024: $37,155,372Net Income 2024: -$3,598,4712024

Highlighted filing

2017

Revenue$32,924,847
Expenses$25,106,435
Net Income$7,818,412
Jump To
Filing Snapshot
Filing Period
Oct 1, 2016 to Sep 30, 2017
Signed
May 31, 2018
Return Version
2016v3.0
Gross Receipts
$34,484,810
Mission and Program Overview

Mission

Rare inspires change so that both people and nature thrive. In the face of a global extinction crisis, climate change, dwindling fish stocks, and disappearing forests, rare is changing behaviors at the local level by teaching community leaders how to relate to nature in a non-destructive manner and providing alternatives to current practices.

Rare inspires change so people and nature thrive.

Balance Sheet Detail
LineBeginningEndChange
Assets
Pledges and Grants Receivable$6,073,755$15,274,497▲ $9,200,742
Investments in Publicly Traded Securities$7,576,433$8,187,370▲ $610,937
Savings and Temporary Cash Investments$2,292,541$1,412,176▼ $880,365
Cash and Non-Interest-Bearing Accounts$715,047$912,296▲ $197,249
Prepaid Expenses and Deferred Charges$536,901$637,416▲ $100,515
Land, Buildings, and Equipment, Net$430,672$343,121▼ $87,551
Total Assets$18,750,993$28,404,430▲ $9,653,437
Other Assets Total$1,125,644$1,637,554▲ $511,910
Liabilities
Accounts Payable and Accrued Expenses$2,864,913$3,642,022▲ $777,109
Deferred Revenue$2,062,140$2,678,452▲ $616,312
Other Liabilities$1,079,110$1,593,412▲ $514,302
Total Liabilities$6,006,163$7,913,886▲ $1,907,723
Net Assets / Fund Balance
Temporarily Rstr Net Assets$3,531,089$11,116,158▲ $7,585,069
Unrestricted Net Assets$9,213,741$9,374,386▲ $160,645
Total Net Assets Fund Balance$12,744,830$20,490,544▲ $7,745,714
Total Liabilities and Net Assets / Fund Balance$18,750,993$28,404,430▲ $9,653,437

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$182,134$507,878$690,012
Other Land Buildings$95,157$265,343$360,500
Leasehold Improvements$65,830$183,565$249,395
Other Assets Org$44,142--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brett JenksPresident & CEOFT$324,886$126,075$450,961
Dale GalvinManaging Dir., SustainableFT$241,985$101,462$343,447
Martha PiperManaging Dir., Global SolutionsFT$241,336$87,290$328,626
Karen ZifferChief Development OfficerFT$234,778$67,071$301,849
Timothy ChildressChief Financial OfficerFT$220,624$52,771$273,395
Gerald MilesVP Global DevelopmentFT$179,810$70,634$250,444
Keith AlgerSVP Latin AmericaFT$194,704$52,730$247,434
Margaret TayloeVP, TalentFT$180,369$53,142$233,511
Kerri HanniganVP, Marketing and CommunuicationFT$171,253$33,017$204,270
Paul Butlertrustee-$94,662$20,000$114,662

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Marine Environment Resources FndMonitoring and evaluationUniv of Philippines, Cebu, Rp$299,354
Revenue and Support

Revenue Composition

Contributions and Grants
$32,748,015
Program Service Revenue
$0
Investment Income
$176,832
Other Revenue
$0
All Other Contributions
$30,012,784
Change in Net Assets
$7,818,412

Audited Revenue Reconciliation

Revenue per Audited Statements
$32,924,847
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$999,432
Total Revenue per Audited Statements
$33,924,279
Total Revenue per Form 990
$32,924,847
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$14,645,129
Other Expenses$9,309,061
Total Fundraising Expense$2,192,195
Grants and Similar Amounts Paid$1,152,245
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$6,637,456$761,944$915,924$8,315,324
Fees for Services Other$2,444,425$69,087$124,042$2,637,554
Current Officers, Directors, Trustees, and Key Employees$2,098,576$242,552$289,589$2,630,717
Travel$1,923,911$88,466$128,632$2,141,009
Other Employee Benefits$1,638,541$189,382$226,108$2,054,031
Occupancy$1,112,830$166,787$166,932$1,446,549
Payroll Taxes$779,695$90,117$107,593$977,405
Foreign Grants$927,245--$927,245
Conferences and Meetings$750,743$34,521$50,194$835,458
Information Technology$630,053$26,503$31,651$688,207
Pension Plan Contributions$532,599$61,558$73,495$667,652
Office Expenses$367,740$117,134$19,363$504,237
Fees for Services Legal$386,501$13,028$34,742$434,271
Fees for Services Accounting-$253,185-$253,185
Grants to Domestic Orgs$225,000--$225,000
Depreciation Depletion$58,000$127,064-$185,064
Other Expenses$49,854$93,111$23,930$166,895
Insurance$7,401$9,231-$16,632
Total Functional Expenses$20,570,570$2,343,670$2,192,195$25,106,435

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$25,693,385
Expenses per Audited Statements$25,106,435
Total Expenses per Form 990$25,106,435
Expenses Not Reported on Form 990$586,950
Expenses Not Reported on Financial Statements$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
The Regents of the University of CaliforniaSanta Barbara, CA501(c)(3)Design tools to measure fisheries programs$125,000
Environmental Defense FundNew York, NY501(c)(3)Fisheries TURF reserve program design$100,000

International Summary

Offices
9
Employees
96
Spending
$13,970,668

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the PacificProgram ServicesWatershed Protection and Fisheries Conservation468$7,742,919
South AmericaProgram Services-212$2,779,741
Europe (Including Iceland & Greenland)Fundraising-14$1,760,763
East Asia and the PacificGrants to recipientsFisheries Conservation00$728,387
Sub-Saharan AfricaProgram Services-17$703,507
South AmericaGrants to recipientsFisheries Conservation00$136,304
Central America and the CaribbeanGrants to recipientsFisheries Conservation00$62,554
North America - Canada and MexicoProgram Services-15$56,493
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Lindblad ExpeditionsEntity more than 35% owned by Sven Lindblad, TrusteeIndependent Contractor ArrangementNo$421,875
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation Liability$1,593,412
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, line 11B

THE BOARD MEMBERS WERE GIVEN A COPY OF THE RETURN TO REVIEW AND APPROVE before filing with the IRS.

Form 990, Part VI, Section B, line 12C

Annually, staff and board members are required to sign a conflict of interest disclosure statement indicating the capacity in which you are serving the organization, any affiliations with rare's business partners, or any benefit gained through a rare business transaction. Detailed information on any such potential conflict must be fully disclosed on the form.

Form 990, Part VI, Section B, line 15

ANNUALLY, RARE STAFF COMPILES DATA FROM CURRENT MARKET COMPENSATION SURVEYS AND OTHER RELEVANT RESEARCH IN ADDITION TO A SELF EVALUATION OF THE CEO AND COO TO BE SUBMITTED TO THE FINANCE AND HR COMMITTEE FOR REVIEW. THE FINANCE AND HR COMMITTEE, BASED ON THE INFORMATION RECEIVED, RECOMMENDS COMPENSATION ADJUSTMENTS FOR THE CEO AND COO TO THE FULL BOARD OF TRUSTEES FOR FINAL APPROVAL. Rare hires a firm to review the compensation of those in a position to exercise substantial influence with respect to Rare's affairs to provide an opinion on the reasonableness of their compensation.

Form 990, Part VI, Section C, line 19

RARE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND Financial STATEMENTs AVAILABLE UPON REQUEST for the same period of disclosure as set forth in section 6104(d).

Filing and Contact Details

Filer

Filer Name
Rare
EIN
23-7380563
Phone
7035225070
Address
1310 NORTH COURTHOUSE RD NO 110, ARLINGTON, VA 22201

Signing Officer

Name
Dale Galvin
Title
Managing Director
Phone
7035225070
Signed
2018-05-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brett Jenks
Formed
1974
Legal Domicile
Va
Voting Board Members
18
Independent Board Members
16
Employees
80
Volunteers
2,240

Preparer

Firm
Rsm US Llp
Address
1861 International Drive Suite 400, McLean, VA 22102
Preparer
Yong Zhang CPA
Phone
7033366400
Supplemental Narrative

Additional Explanations

Form 990, Part IX, line 11G

Consultants: Program service expenses 2,444,425. Management and general expenses 69,087. Fundraising expenses 124,042. Total expenses 2,637,554.

Form 990, Part XII, Line 2C:

the process for overseeing the audit of the financial statements and selection of an independent accountant that audited the financial statements has been consistent with prior years.

Form 990, Part I, LIne 5:

Part I, LIne 5 only reflects the number of employees receiving Form W-2 (80). The total number of worldwide employees is 164.

Form 990, Part XI, Line 10:

The Meloy Fund I, LP net asset balance of $485,180 is part of the total net asset balance shown on the audited financial statements but is excluded from the Form 990 schedules.

Financial Statement Notes

Part X, Line 2:

Rare is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code (IRC). Rare is subject to unrelated business income taxes under Section 512 of the IRC; however, in the opinion of management, no provision for income taxes is required to be made. Rare follows the accounting standard on accounting for uncertainty in income taxes, which addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under this guidance, Rare may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position are measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. The guidance on accounting for uncertainty in income taxes also addresses de-recognition, classification, interest and penalties on income taxes, and accounting in interim periods. Management evaluated Rare's tax positions and concluded that Rare had taken no uncertain tax positions that require adjustment to the consolidated financial statements to comply with the provisions of this guidance. Generally, Rare is no longer subject to income tax examinations by the U.S. federal, state or local tax authorities for years before 2014.

Part XI, Line 2D - Other Adjustments:

Portfolio interest Meloy Fund I LP Included in Consol. Financial Statement 64,379. Contribution by limited partners to Meloy Fund I L.P. included in consol. FS 505,000.

Part XII, Line 2D - Other Adjustments:

Expenses of Meloy Fund I LP included in consolidated financial statements 84,199.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/PersonNm2Duncan McFarland
IRS990/Form990PartVIISectionAGrp/PersonNm3Lois Morrison
IRS990/Form990PartVIISectionAGrp/PersonNm4Joseph Ellis
IRS990/Form990PartVIISectionAGrp/PersonNm5Gustavo Fonseca
IRS990/Form990PartVIISectionAGrp/PersonNm6Steve Gaines
IRS990/Form990PartVIISectionAGrp/PersonNm7Barbara Hernandez
IRS990/Form990PartVIISectionAGrp/PersonNm8Scott Jacobs
IRS990/Form990PartVIISectionAGrp/PersonNm9David McCormick
IRS990/Form990PartVIISectionAGrp/PersonNm10Edward Soule
IRS990/Form990PartVIISectionAGrp/PersonNm11Vadim Nikitine
IRS990/Form990PartVIISectionAGrp/PersonNm12Tom Patterson
IRS990/Form990PartVIISectionAGrp/PersonNm13Amanda Paulson
IRS990/Form990PartVIISectionAGrp/PersonNm14Dorothy Batten
IRS990/Form990PartVIISectionAGrp/PersonNm15Sven Lindblad
IRS990/Form990PartVIISectionAGrp/PersonNm16Jose Roberto Marinho
IRS990/Form990PartVIISectionAGrp/PersonNm17Jan Portman
IRS990/Form990PartVIISectionAGrp/PersonNm18Anne Martin Simonds
IRS990/Form990PartVIISectionAGrp/PersonNm19Paul Butler
IRS990/Form990PartVIISectionAGrp/PersonNm20Brett Jenks
IRS990/Form990PartVIISectionAGrp/PersonNm21Timothy Childress
IRS990/Form990PartVIISectionAGrp/PersonNm22Dale Galvin
IRS990/Form990PartVIISectionAGrp/PersonNm23Martha Piper
IRS990/Form990PartVIISectionAGrp/PersonNm24Karen Ziffer
IRS990/Form990PartVIISectionAGrp/PersonNm25Margaret Tayloe
IRS990/Form990PartVIISectionAGrp/PersonNm26Keith Alger
IRS990/Form990PartVIISectionAGrp/PersonNm27Kerri Hannigan
IRS990/Form990PartVIISectionAGrp/PersonNm28Gerald Miles
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IRS990/Form990PartVIISectionAGrp/TitleTxt20President & CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt21Chief Financial Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt22Managing Dir., Sustainable
IRS990/Form990PartVIISectionAGrp/TitleTxt23Managing Dir., Global Solutions
IRS990/Form990PartVIISectionAGrp/TitleTxt24Chief Development Officer
IRS990/Form990PartVIISectionAGrp/TitleTxt25VP, Talent
IRS990/Form990PartVIISectionAGrp/TitleTxt26SVP Latin America
IRS990/Form990PartVIISectionAGrp/TitleTxt27VP, Marketing and Communuication
IRS990/Form990PartVIISectionAGrp/TitleTxt28VP Global Development
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IRS990/MissionDesc0For every major environmental challenge facing our planet, people are both the problem and the solution. Dwindling forests and fisheries. Threats to biodiversity. Resources in crisis. Harmful climate change. Rare, a global conservation organization, believes the key to addressing these threats lies with the people and communities that face the challenges firsthand, where their livelihoods and their lives depend on finding solutions.For over 40 years, Rare has led over 400 local programs in more than 50 countries worldwide, working directly with communities to better manage their natural resources, restore fish populations, protect coral reefs, ensure access to clean fresh water and create a sustainable food supply. Rare is a global leader in the use of behavioral science to inspire change at a local level, to achieve conservation impact on a global scale. A solution-oriented conservation organization focused on people, Rare inspires change so people and nature thrive.
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