Civic Intelligence

Rare Inc.

990 • Fiscal year 2021 • EIN 23-7380563

Oct 01, 2020 to Sep 30, 2021 • Filed on Jun 07, 2022

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

54th percentile

0.25x

Higher debt load relative to assets than 54% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

54th percentile

0.31x

Higher debt load relative to revenue than 54% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

70th percentile

25%

Higher net margin than 70% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

84th percentile

$500,644

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

82nd percentile

27%

Faster asset growth than 82% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

83rd percentile

64%

Faster revenue growth than 83% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Assets

Up

$47,172,711

Up $10,173,534 (+27%) from 2020

Net Assets

Up

$35,594,767

Up $9,223,352 (+35%) from 2020

Liabilities

Up

$11,577,944

Up $950,182 (+8.9%) from 2020

Revenue

Up

$37,625,413

Up $14,708,333 (+64%) from 2020

Expenses

Up

$28,280,886

Up $3,100,132 (+12%) from 2020

Net Income

Up

$9,344,527

Up $11,608,201 (+513%) from 2020

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

2021

Assets$47,172,711
Liabilities$11,577,944
Net Assets$35,594,767

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

2021

Revenue$37,625,413
Expenses$28,280,886
Net Income$9,344,527
Jump To
Filing Snapshot
Filing Period
Oct 1, 2020 to Sep 30, 2021
Signed
Jun 7, 2022
Return Version
2020v4.2
Gross Receipts
$45,435,111
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$13,322,597$19,214,153▲ $5,891,556
Savings and Temporary Cash Investments$7,421,840$9,495,696▲ $2,073,856
Investments in Publicly Traded Securities$9,249,635$9,343,811▲ $94,176
Cash and Non-Interest-Bearing Accounts$4,581,509$6,885,854▲ $2,304,345
Other Notes and Loans Receivable, Net$527,305$382,907▼ $144,398
Prepaid Expenses and Deferred Charges$453,811$345,157▼ $108,654
Land, Buildings, and Equipment, Net$98,896$48,178▼ $50,718
Total Assets$36,999,177$47,172,711▲ $10,173,534
Other Assets Total$1,343,584$1,456,955▲ $113,371
Liabilities
Deferred Revenue$5,388,192$4,329,705▼ $1,058,487
Accounts Payable and Accrued Expenses$1,122,833$3,162,347▲ $2,039,514
Other Liabilities$2,442,755$2,411,910▼ $30,845
Unsecured Notes Loans Payable$1,673,982$1,673,982→ $0
Total Liabilities$10,627,762$11,577,944▲ $950,182
Net Assets / Fund Balance
Net Assets With Donor Restrictions$16,011,073$22,435,965▲ $6,424,892
Net Assets Without Donor Restrictions$10,360,342$13,158,802▲ $2,798,460
Total Net Assets Fund Balance$26,371,415$35,594,767▲ $9,223,352
Total Liabilities and Net Assets / Fund Balance$36,999,177$47,172,711▲ $10,173,534

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$11,587$420,468$432,055
Other Land Buildings$31,822$381,518$413,340
Leasehold Improvements$4,769$253,746$258,515
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Brett JenksPresident and CEOFT$389,164$111,480$500,644
Karen ZifferChief Development OfficerFT$269,775$57,279$327,054
Dale GalvinFormer Managing Director (until 9/20)FT$211,861$110,221$322,082
Niels CroneChief Operating OfficerFT$254,775$60,292$315,067
Stephen BoxManaging DirectorFT$225,487$49,192$274,679
Paula CaballeroManaging DirectorFT$238,988$31,872$270,860
Caryn PerrelliVice PresidentFT$207,487$48,224$255,711
Brandon SchauerVice PresidentFT$184,726$46,218$230,944
Barbara BettsVice PresidentFT$197,500$27,156$224,656
Esteban ChavarriaVice PresidentFT$173,034$44,697$217,731
Anna T BartlettVice PresidentFT$169,472$44,769$214,241
Cynthia MayoralVice PresidentFT$147,967$43,905$191,872

Highest Paid Contractors

ContractorServicesLocationCompensation
Deliberate CapitalMeloy Fund L.p. Management Services819 QUINCY ST, Arlington, VA 22204, Sn$1,451,868
Renee BaiorunosStrategic Planning And Chief Of Staff1324 E CAPITOL STREET NE, Washington, DC 20003$184,545
Kito GlobalLegal Fees For Establishing New Entities32 MADISON STREET, Newburyport, MA 09150$162,000
Peter KennedyContractor For Meloy Fund Investment Act1027 GRANT STREET SUITE 211, Brooklyn, NY 11211$150,000
Little UniverseDevelop Carbon Counts Application-$135,450
Revenue and Support

Revenue Composition

Contributions and Grants
$36,301,044
Program Service Revenue
$918,826
Investment Income
$129,235
Other Revenue
$276,308
All Other Contributions
$34,612,753
Change in Net Assets
$9,344,527

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded6$67,474Fair Market Value (FMV)
Total Noncash Contributions6$67,474-

Audited Revenue Reconciliation

Revenue per Audited Statements
$37,931,909
Revenue Not Reported on Financial Statements
$-306,496
Revenue Not Reported on Form 990
$6,523,187
Other Revenue Adjustments
$-323,394
Total Revenue per Audited Statements
$44,455,096
Total Revenue per Form 990
$37,625,413
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$17,442,050
Other Expenses$10,444,009
Total Fundraising Expense$2,302,500
Grants and Similar Amounts Paid$394,827
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$8,549,543$981,702$806,059$10,337,304
Other Employee Benefits$2,671,003$417,013$398,502$3,486,518
Fees for Services Other$3,066,562$211,941$149,971$3,428,474
Current Officers, Directors, Trustees, and Key Employees$855,266$486,633$597,097$1,938,996
Fees for Service Investment Mgmnt Fees$1,451,868$16,898-$1,468,766
Occupancy$840,353$163,301$134,183$1,137,837
Conferences and Meetings$1,057,603--$1,057,603
Information Technology$998,032$42,384-$1,040,416
Payroll Taxes$762,225$119,003$113,721$994,949
Fees for Services Legal$707,012$18,999-$726,011
Pension Plan Contributions$524,226$81,845$78,212$684,283
Travel$461,195$9,477$9,204$479,876
Office Expenses$466,138$1,294$9,104$476,536
Foreign Grants$360,300--$360,300
Fees for Services Accounting$85,502$104,450-$189,952
Advertising$136,172--$136,172
Insurance$64,074$33,709-$97,783
Other Expenses$67,514$9,981$2,071$67,514
Depreciation Depletion$35,324$11,018$4,376$50,718
Grants to Domestic Orgs$34,527--$34,527
Interest-$16,195-$16,195
Total Functional Expenses$23,252,543$2,725,843$2,302,500$28,280,886

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$29,025,254
Expenses per Audited Statements$28,587,382
Total Expenses per Form 990$28,280,886
Expenses Not Reported on Form 990$437,872
Expenses Not Reported on Financial Statements$-306,496
Other Expense Adjustments$-323,394
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Secore International IncHillard, OH501(c)(3)SUPPORT FOR SECORE'S CORAL RESTORATION TECHNOLOGY$21,177
Cool Effect IncKentfield, CA501(c)(3)Supporting Carbon Offset Programs$8,350
Sustainable Organic Integrated Livelihoods (soil)Sherburne, NY501(c)(3)Reducing Water Pollution Through Behavior Change$5,000

International Summary

Offices
17
Employees
214
Spending
$8,492,039

International Compliance

Foreign grant records maintained
Yes
Activity in boycott countries
No
Foreign corporation ownership
Yes
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 ServicesEmpowering Marginalized, Fisheries-dependent Communities in the Asia Pacific Region to Adapt to Climate Change370$4,925,869
South AmericaProgram ServicesCoastal Fisheries Marine Reserve Program Design and Individual Behaviors People Can Adopt With the Greatest Potential for Climate Impact114$871,093
South AmericaProgram ServicesTARGETING MULTIPLE BEHAVIORS AND PRACTICES TO IMPROVE SOIL HEALTH AND WATER QUALITY. THESE "CLIMATE-COMPATIBLE" PRACTICES INCREASE CARBON STORAGE IN SOIL, ENCOURAGE NATIVE TREE PLANTING, PROTECT NATURAL HABITATS (THROUGH REDUCED DEFORESTATION), AND SHIFT HOW FARMERS AND THEIR FAMILIES INTERACT WITH BIODIVERSITY15$633,158
Europe (including Iceland & Greenland)Program ServicesIdentifying and Promoting Individual Behaviors People Can Adopt With the Greatest Potential for Climate Impact14$548,076
Central America and the CaribbeanProgram ServicesEmpowering Marginalized, Fisheries-dependent Communities in the Asia Pacific Region to Adapt to Climate Change13$383,023
Sub-saharan AfricaProgram ServicesBuild and Strengthen Community Based Fisheries Management in Coastal Waters to Improve the Health of the Ocean Ecosystem.19$379,813
East Asia and the PacificProgram ServicesTARGETING MULTIPLE BEHAVIORS AND PRACTICES TO IMPROVE SOIL HEALTH AND WATER QUALITY. THESE "CLIMATE-COMPATIBLE" PRACTICES INCREASE CARBON STORAGE IN SOIL, ENCOURAGE NATIVE TREE PLANTING, PROTECT NATURAL HABITATS (THROUGH REDUCED DEFORESTATION), AND SHIFT HOW FARMERS AND THEIR FAMILIES INTERACT WITH BIODIVERSITY.12$208,014
East Asia and the PacificGrants to Recipients Located in Region-372$190,297
Europe (including Iceland & Greenland)Fundraising-12$182,692
Central America and the CaribbeanGrants to Recipients Located in Region-15$113,688
South AmericaGrants to Recipients Located in Region-219$33,316
Sub-saharan AfricaGrants to Recipients Located in Region-19$23,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Compensation Liability$1,433,558
Deferred Rent$978,352
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 35% controlled entity
No
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

Upon joining, 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. Annually, staff and board members are required to provide any updates.

Form 990, Part VI, Section B, Line 15

Annually, rare staff compiles market compensation data from compensation surveys. Rare hires an external compensation firm to review the compensation of those in a position to exercise substantial influence with respect to rare's business affairs. The external compensation firm provides the ceo, the chairperson of the board and the finance and hr board committee with a report that provides market information for each role. The firm also provides an opinion on the reasonableness of the ceo's compensation. The board chairperson and the finance and hr board committee meets with the external compensation firm and reviews the report, information, and analysis. The ceo reviews the compensation adjustments recommended with the finance and hr committee. The board chairperson and the finance and hr committee determines a compensation adjustment for the ceo, based on the information provided by the outside firm, as well as the ceo and rare's business performance for the year.

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
Niels Crone
Title
COO
Phone
7035225070
Signed
2022-06-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Brett Jenks
Formed
1974
Legal Domicile
Va
Voting Board Members
24
Independent Board Members
23
Employees
105
Volunteers
2,033

Preparer

Firm
Rsm US Llp
Address
1001 WATER ST STE 500, TAMPA, FL 33602
Preparer
Kristen Barnett
Phone
8133162300
Supplemental Narrative

Additional Explanations

Form 990, Part I, Line 1

Rare is the leading behavior change organization in conservation and sustainable development. In our more than four decades of work, rare has launched over 450 behavior change campaigns (known as "pride") in more than 60 countries, inspiring local communities to adopt more sustainable fishing habits, end deforestation, preserve habitat, and save species. Pride increases and accelerates the adoption of conservation solutions - and the change lasts. Rare's people-centered, participatory approach to conservation empowers local leaders and elevates the role of fishers, farmers, and other people who depend on nature in local decision-making and governance. This community-led approach is buoyed by partnerships with officials at all levels of governmentfrom mayors to ministersand with public and private institutions, universities and other organizations capable of removing barriers and paving the way for enduring solutions.

Form 990, Part IX, Line 11G

Other professional fees: program service expenses 3,066,562. Management and general expenses 211,941. Fundraising expenses 149,971. Total expenses 3,428,474.

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 (105). The total number of worldwide employees is 187.

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 511 of the irc; however, in the opinion of management, no provision for income taxes is required to be made. Net operating loss for the year ended september 30, 2021 and 2020, was $_______ and $149,823, respectively. 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 consolidated 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 consolidated 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. As of september 30, 2021, rare had no cumulative unrelated business taxable loss. 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 2018.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Portfolio interest meloy fund i lp included in consol. Financial statement 224,340. Contribution by limited partners to meloy fund i lp included in consol. Fs 5,967,000. Change in unrealized loss on privately held securities 605,790. Elimination entry included in consolidated financial statements -311,657.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Rental expenses included in part viii -323,394.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Expenses of meloy fund i lp included in consolidated financial statements 590,640. Elimination entry included in consolidated financial statements -311,657.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Rental expenses included in part viii -323,394.

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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/Desc0RARE'S FISH FOREVER PROGRAM IS A GLOBAL LEADER IN REDUCING COASTAL OVERFISHING AND REVITALIZING COASTAL FISHERIES. THROUGH A GLOBAL NETWORK OF 100 STAFF AND OVER 150 LOCAL PARTNERS, FISH FOREVER MOBILIZES AND STRENGTHENS COMMUNITY-LED MANAGEMENT OF COASTAL FISHERIES. THROUGH A REPLICABLE MODEL ROOTED IN BEHAVIORAL SCIENCE, FISH FOREVER PROMOTES RESPONSIBLE FISHING BEHAVIOR AMONG LOCAL FISHERS.
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