Civic Intelligence

Cool Effect Inc.

990 • Fiscal year 2023 • EIN 47-5068496

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

Organization Profilewww.cooleffect.org
100 Drakes Landing 260Greenbrae, CA 94904

(415) 454-2665

Siviq Scores

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

Liabilities / Assets

68th percentile

0.38x

Higher debt load relative to assets than 68% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

40th percentile

0.16x

Higher debt load relative to revenue than 40% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Net Margin

32nd percentile

-2.0%

Higher net margin than 32% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

84th percentile

$359,209

Higher top officer pay than 84% of similar nonprofits.

Top officer pay equals 1.9% of source-year revenue.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2023

Asset Growth

79th percentile

22%

Faster asset growth than 79% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

34th percentile

-2.2%

Faster revenue growth than 34% of similar nonprofits.

2023 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets68th percentile

Assets

Up

$8,181,551

Up $1,462,472 (+22%) from 2022

Net Assets

Down

$5,107,893

Down $365,989 (-6.7%) from 2022

Liabilities

Up

$3,073,658

Up $1,828,461 (+147%) from 2022

Revenue And Expenses
Liabilities / Revenue40th percentileNet Margin32nd percentile

Revenue

Down

$18,784,571

Down $427,468 (-2.2%) from 2022

Expenses

Up

$19,168,969

Up $454,962 (+2.4%) from 2022

Net Income

Down

-$384,398

Down $882,430 (-177%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth79th percentile

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

$10M$5.0M$0Assets 2016: $3,700,882Liabilities 2016: $598,404Net Assets 2016: $3,102,4782016Assets 2017: $5,319,516Liabilities 2017: $675,173Net Assets 2017: $4,644,3432017Assets 2018: $7,468,581Liabilities 2018: $642,121Net Assets 2018: $6,826,4602018Assets 2019: $5,179,518Liabilities 2019: $669,250Net Assets 2019: $4,510,2682019Assets 2020: $4,696,241Liabilities 2020: $847,005Net Assets 2020: $3,849,2362020Assets 2021: $7,010,790Liabilities 2021: $1,192,451Net Assets 2021: $5,818,3392021Assets 2022: $6,719,079Liabilities 2022: $1,245,197Net Assets 2022: $5,473,8822022Assets 2023: $8,181,551Liabilities 2023: $3,073,658Net Assets 2023: $5,107,8932023Assets 2024: $7,320,152Liabilities 2024: $2,430,432Net Assets 2024: $4,889,7202024Assets 2025: $6,027,945Liabilities 2025: $2,170,865Net Assets 2025: $3,857,0802025

Highlighted filing

2023

Assets$8,181,551
Liabilities$3,073,658
Net Assets$5,107,893
Open 2023 Filing

Operations Trend

Revenue Growth34th percentile

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

$30M$20M$10M$0-$10MRevenue 2016: $6,120,156Expenses 2016: $2,725,683Net Income 2016: $3,394,4732016Revenue 2017: $10,427,735Expenses 2017: $8,886,532Net Income 2017: $1,541,2032017Revenue 2018: $12,015,237Expenses 2018: $9,979,547Net Income 2018: $2,035,6902018Revenue 2019: $5,847,902Expenses 2019: $8,096,702Net Income 2019: -$2,248,8002019Revenue 2020: $9,439,081Expenses 2020: $10,237,240Net Income 2020: -$798,1592020Revenue 2021: $10,629,134Expenses 2021: $9,139,620Net Income 2021: $1,489,5142021Revenue 2022: $19,212,039Expenses 2022: $18,714,007Net Income 2022: $498,0322022Revenue 2023: $18,784,571Expenses 2023: $19,168,969Net Income 2023: -$384,3982023Revenue 2024: $21,068,410Expenses 2024: $21,356,903Net Income 2024: -$288,4932024Revenue 2025: $14,590,555Expenses 2025: $15,604,765Net Income 2025: -$1,014,2102025

Highlighted filing

2023

Revenue$18,784,571
Expenses$19,168,969
Net Income-$384,398
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$18,784,571
Mission and Program Overview

Mission

Cool Effect believes that small actions ignite planet-sized changes. The Organization developed a platform that brings people together to support the worlds best carbon emission reduction projects.

Cool Effect's mission is to help cool the earth by supporting verified carbon reducing projects across the globe through crowd funding.

Balance Sheet Detail
LineBeginningEndChange
Assets
Inventories for Sale or Use$5,205,122$4,843,574▼ $361,548
Prepaid Expenses and Deferred Charges$451,040$1,962,752▲ $1,511,712
Cash and Non-Interest-Bearing Accounts$745,328$1,089,525▲ $344,197
Investments in Publicly Traded Securities$101,042$149,862▲ $48,820
Intangible Assets$213,841$135,838▼ $78,003
Land, Buildings, and Equipment, Net$2,706$0▼ $2,706
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Total Assets$6,719,079$8,181,551▲ $1,462,472
Other Assets Total-$0-
Liabilities
Deferred Revenue$191,330$1,913,228▲ $1,721,898
Accounts Payable and Accrued Expenses$1,053,867$1,160,430▲ $106,563
Total Liabilities$1,245,197$3,073,658▲ $1,828,461
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$5,473,882$5,107,893▼ $365,989
Total Net Assets Fund Balance$5,473,882$5,107,893▼ $365,989
Total Liabilities and Net Assets / Fund Balance$6,719,079$8,181,551▲ $1,462,472

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$42,126$42,126
Leasehold Improvements-$11,847$11,847
Other Land Buildings-$3,053$3,053
Compensation and Service Providers
Top Officer Pay84th percentile

Employees

NameTitleFull / Part TimeOtherTotal
JR PattersonController-$116,507$116,507
Mike BruceCFO/COOFT$111,942$111,942

Board Members and Trustees

NameTitle
Dr Michael WaraAdvisory Board
Dr Robert DubrowAdvisory Board
Hector MoralesAdvisory Board
Pavel MolchanovAdvisory Board
Skye LawrenceDirector
Jodi ManningCEO
Dee LawrenceCo-Founder
Richard H Lawrence JrCo-Founder

Highest Paid Contractors

ContractorServicesLocationCompensation
Demonstrate PR LLCPublic Relations2513 Van Ness Avenue, San Francisco, CA 94109$557,368
Revenue and Support

Revenue Composition

Contributions and Grants
$18,629,202
Program Service Revenue
$140,000
Investment Income
$15,369
Other Revenue
$0
All Other Contributions
$18,629,202
Change in Net Assets
$-384,398

Audited Revenue Reconciliation

Revenue per Audited Statements
$18,784,571
Revenue Not Reported on Form 990
$100,909
Total Revenue per Audited Statements
$18,885,480
Total Revenue per Form 990
$18,784,571
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$18,106,974
Salaries, Compensation, and Employee Benefits$940,545
Grants and Similar Amounts Paid$121,450
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Advertising$602,627--$602,627
Current Officers, Directors, Trustees, and Key Employees$426,372$44,779-$471,151
Other Salaries and Wages$382,586$40,180-$422,766
Depreciation Depletion$154,106$8,111-$162,217
Information Technology$143,552--$143,552
Foreign Grants$121,450--$121,450
Travel$85,035--$85,035
Occupancy$74,250$8,250-$82,500
Payroll Taxes$42,196$4,432-$46,628
Office Expenses$25,038$2,782-$27,820
Fees for Services Accounting-$23,734-$23,734
Fees for Services Legal-$860-$860
Other Expenses$-74,250$-8,250-$-82,500
Total Functional Expenses$19,006,486$162,483$0$19,168,969

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$19,251,469
Expenses per Audited Statements$19,168,969
Total Expenses per Form 990$19,168,969
Expenses Not Reported on Form 990$82,500
International Activity

International Summary

Employees
1
Spending
$283,325

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
BrazilProject ResearchNature Conservation01$161,875
MexicoFunding of nature conservationNature Conservation00$115,000
IndiaCell phones for women in IndiaTechnology assistance00$6,450
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

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
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 A, Line 2

“Board members Richard Lawrence, Jr. and DEE LAWRENCE are husband and wife. Board member SKYE LAWRENCE is the daughter of Richard Lawrence, Jr. and DEE LAWRENCE.”

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

“Form 990 is prepared by an outside tax professional. The form is then reviewed by the organization's management. After a full review, the final version of the tax return is provided to all members of the organization's voting body. A representative of management authorizes the final form 990 which is then e-filed with the internal revenue service.”

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

“Members of the Board of Directors review all potential conflicts of interest periodically. Top management and all Board members are required to disclose potential conflicts and any related party affiliations. The organization seeks full transparency on all relationships. Any potential conflicts (in fact or appearance) are discussed openly and resolved in accordance with the organization's policies and procedures.”

Form 990, Part VI, Section B, Line 15A

“Members of the board of directors review the compensation of all high-level personnel periodically in accordance with IRS rules and regulations. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries. Every effort is made to ensure that the process is thorough and transparent in accordance with IRS guidelines and the organization's policies and procedures.”

Form 990, Part VI, Section B, Line 15B

“Compensation of other personnel and highly compensated employees is reviewed periodically by members of management. Efforts are made to secure compensation data from industry sources in order to determine competitiveness and appropriateness of salaries and all related benefits. All decisions are then documented in personnel files.”

Form 990, Part VI, Section C, Line 18

“Tax returns are available for download from several websites and by request from the organization's office in Greenbrae, California.”

Form 990, Part VI, Section C, Line 19

“All of the organization's governing documents, financial statements, and other legal filings are maintained in a secure environment and held available for inspection by tax authorities and the general public. Tax returns are posted annually to our website and to www.guidestar.org (where they are available for viewing as electronic copies) and are also available by request from the organization's office.”

Filing and Contact Details

Filer

Filer Name
Cool Effect Inc
EIN
47-5068496
Phone
4154542665
Address
100 Drakes Landing 260, Greenbrae, CA 94904

Signing Officer

Name
Richard H Lawrence Jr
Title
Co-Founder
Phone
4154542665
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard H Lawrence Jr
Formed
2015
Legal Domicile
De
Voting Board Members
3
Independent Board Members
3
Employees
3
Volunteers
10

Preparer

Firm
Regalia & Associates Cpas
Address
103 TOWN COUNTRY DR STE K, DANVILLE, CA 94526
Preparer
Douglas W Regalia
Phone
9253140390
Supplemental Narrative

Financial Statement Notes

Part X : FIN48 Footnote

“Financial statement presentation follows the recommendations of ASC 740, Income Taxes. Under ASC 740, Cool Effect is required to report information regarding its exposure to various tax positions taken by Cool Effect and requires a two-step process that separates recognition from measurement. The first step is determining whether a tax position has met the recognition threshold; the second step is measuring a tax position that meets the recognition threshold. Management believes that Cool Effect has adequately evaluated its current tax positions and has concluded that as of June 30, 2023, Cool Effect does not have any uncertain tax positions for which a reserve or an accrual for a tax liability would be necessary.Cool Effect has received notification from the Internal Revenue Service and the State of California that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and Section 23701d of the California Revenue and Taxation Code. The exemptions are subject to periodic review by the federal and state taxing authorities and management is confident that Cool Effect continues to satisfy all federal and state statutes in order to qualify for continued tax exemption status. Cool Effect may periodically receive unrelated business income (such as sublease rental income) requiring Cool Effect to file separate tax returns under federal and state statutes. Under such conditions, Cool Effect calculates and accrues the applicable taxes.”

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IRS990/PrincipalOfficerNm0RICHARD H LAWRENCE JR
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IRS990/ProgSrvcAccomActy2Grp/Desc0also reviews project management to assess whether donations are going where they should and that the project will operate well into the future.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Financial statement presentation follows the recommendations of ASC 740, Income Taxes. Under ASC 740, Cool Effect is required to report information regarding its exposure to various tax positions taken by Cool Effect and requires a two-step process that separates recognition from measurement. The first step is determining whether a tax position has met the recognition threshold; the second step is measuring a tax position that meets the recognition threshold. Management believes that Cool Effect has adequately evaluated its current tax positions and has concluded that as of June 30, 2023, Cool Effect does not have any uncertain tax positions for which a reserve or an accrual for a tax liability would be necessary.Cool Effect has received notification from the Internal Revenue Service and the State of California that it qualifies for tax-exempt status under Section 501(c)(3) of the Internal Revenue Code and Section 23701d of the California Revenue and Taxation Code. The exemptions are subject to periodic review by the federal and state taxing authorities and management is confident that Cool Effect continues to satisfy all federal and state statutes in order to qualify for continued tax exemption status. Cool Effect may periodically receive unrelated business income (such as sublease rental income) requiring Cool Effect to file separate tax returns under federal and state statutes. Under such conditions, Cool Effect calculates and accrues the applicable taxes.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part X : FIN48 Footnote
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IRS990ScheduleF/AccountActivitiesOutsideUSGrp/SpecificServicesProvidedTxt0Technology assistance

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$8,181,551
Liabilities
$3,073,658
Net assets
$5,107,893
Revenue
$18,784,571
Expenses
$19,168,969
Net income
-$384,398
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$6.03$2.17$3.86$14.6$15.6$1.01
2024Detailed filing. Detailed filing data is available for this year.$7.32$2.43$4.89$21.1$21.4$0.29
2023Detailed filing. Detailed filing data is available for this year.$8.18$3.07$5.11$18.8$19.2$0.38
2022Detailed filing. Detailed filing data is available for this year.$6.72$1.25$5.47$19.2$18.7$0.50
2021Detailed filing. Detailed filing data is available for this year.$7.01$1.19$5.82$10.6$9.14$1.49
2020Detailed filing. Detailed filing data is available for this year.$4.70$0.85$3.85$9.44$10.2$0.80
2019Detailed filing. Detailed filing data is available for this year.$5.18$0.67$4.51$5.85$8.10$2.25
2018Detailed filing. Detailed filing data is available for this year.$7.47$0.64$6.83$12.0$9.98$2.04
2017Detailed filing. Detailed filing data is available for this year.$5.32$0.68$4.64$10.4$8.89$1.54
2016Detailed filing. Detailed filing data is available for this year.$3.70$0.60$3.10$6.12$2.73$3.39