Civic Intelligence

Terrapraxis Inc.

990 • Fiscal year 2023 • EIN 85-4125576

Jan 01, 2023 to Dec 31, 2023 • Filed on Jul 31, 2024

Organization Profile
160 Alewife Brook Pkwy Unit 1261Cambridge, MA 02138

(413) 237-6443

Siviq Scores

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

Liabilities / Assets

76th percentile

0.32x

Higher debt load relative to assets than 76% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

55th percentile

0.11x

Higher debt load relative to revenue than 55% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

10th percentile

-35%

Higher net margin than 10% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

92nd percentile

$229,824

Higher top officer pay than 92% of similar nonprofits.

Top officer pay equals 9.8% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

1st percentile

-62%

Faster asset growth than 1% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

27th percentile

-8.0%

Faster revenue growth than 27% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets76th percentile

Assets

Down

$823,318

Down $1,361,679 (-62%) from 2022

Net Assets

Down

$558,005

Down $827,819 (-60%) from 2022

Liabilities

Down

$265,313

Down $533,860 (-67%) from 2022

Revenue And Expenses
Liabilities / Revenue55th percentileNet Margin10th percentile

Revenue

Down

$2,350,945

Down $205,794 (-8.0%) from 2022

Expenses

Up

$3,178,764

Up $2,048,979 (+181%) from 2022

Net Income

Down

-$827,819

Down $2,254,773 (-158%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth1st percentile

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

$3.0M$2.0M$1.0M$0Assets 2021: $559,768Liabilities 2021: $46Net Assets 2021: $559,7222021Assets 2022: $2,184,997Liabilities 2022: $799,173Net Assets 2022: $1,385,8242022Assets 2023: $823,318Liabilities 2023: $265,313Net Assets 2023: $558,0052023Assets 2024: $413,697Liabilities 2024: $355,137Net Assets 2024: $58,5602024

Highlighted filing

2023

Assets$823,318
Liabilities$265,313
Net Assets$558,005
Open 2023 Filing

Operations Trend

Revenue Growth27th percentile

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

$4.0M$2.0M$0-$2.0MRevenue 2021: $804,252Expenses 2021: $244,530Net Income 2021: $559,7222021Revenue 2022: $2,556,739Expenses 2022: $1,129,785Net Income 2022: $1,426,9542022Revenue 2023: $2,350,945Expenses 2023: $3,178,764Net Income 2023: -$827,8192023Revenue 2024: $1,514,293Expenses 2024: $2,013,738Net Income 2024: -$499,4452024

Highlighted filing

2023

Revenue$2,350,945
Expenses$3,178,764
Net Income-$827,819
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Jul 31, 2024
Return Version
2023v5.0
Gross Receipts
$2,350,945
Mission and Program Overview

Mission

To define innovative pathways to achieve results at the cost, speed and scale necessary for widespread decarbonization by mobilizing customers, governments, industry, investors, ngos,and regulators

To achieve widespread decarbonization

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$169,874$649,084▲ $479,210
Cash and Non-Interest-Bearing Accounts$2,011,668$118,574▼ $1,893,094
Prepaid Expenses and Deferred Charges$2,043$52,667▲ $50,624
Land, Buildings, and Equipment, Net$1,412$2,993▲ $1,581
Total Assets$2,184,997$823,318▼ $1,361,679
Liabilities
Deferred Revenue$292,994--
Accounts Payable and Accrued Expenses$506,179$265,313▼ $240,866
Total Liabilities$799,173$265,313▼ $533,860
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,385,824$558,005▼ $827,819
Total Net Assets Fund Balance$1,385,824$558,005▼ $827,819
Total Liabilities and Net Assets / Fund Balance$2,184,997$823,318▼ $1,361,679

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$2,993$1,231$4,224
Compensation and Service Providers
Top Officer Pay92nd percentile

Employees

NameTitleFull / Part TimeBaseTotal
Eric IngersollPresidentPT$229,824$229,824

Board Members and Trustees

NameTitle
Kirsty GoganVice President
A WhittakerDirector
Amy RomaDirector
Ellen BaumDirector
J BuonjiornoDirector
Ray RothrockDirector
R VysatovaTreas & Clerk
Revenue and Support

Revenue Composition

Contributions and Grants
$2,301,843
Program Service Revenue
$42,875
Investment Income
$0
Other Revenue
$6,227
All Other Contributions
$2,301,843
Change in Net Assets
$-827,819
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$1,859,433
Other Expenses$1,319,331
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,089,932$272,483-$1,362,415
Fees for Services Management$772,239$190,510-$962,749
Current Officers, Directors, Trustees, and Key Employees$183,859$45,965-$229,824
Travel$171,290--$171,290
Payroll Taxes$127,874$31,969-$159,843
Other Employee Benefits$85,881$21,470-$107,351
Other Expenses$30,905$7,726-$38,631
Office Expenses$27,791$6,948-$34,739
Fees for Services Accounting$20,806$7,751-$28,557
Occupancy$3,761$940-$4,701
Insurance$3,622$906-$4,528
Depreciation Depletion$500$125-$625
Total Functional Expenses$2,582,497$596,267$0$3,178,764
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
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
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Part VI, Line 11B

“All board members review and approve this form 990 before submission.”

Part VI, Line 15

“All board members approve compensation and related benefits for employees after annual evaluations.”

Filing and Contact Details

Filer

Filer Name
Terrapraxis Inc
EIN
85-4125576
Address
160 ALEWIFE BROOK PKWY UNIT 1261, CAMBRIDGE, MA 02138

Signing Officer

Name
Eric Ingersoll
Title
President
Phone
4132376443
Signed
2024-07-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Ingersoll
Formed
2021
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
8
Employees
8

Preparer

Firm
Bernice F Lord CPA
Address
251 NORTHAMPTON STREET SUITE A, EASTHAMPTON, MA 01027
Preparer
Bernice F Lord CPA
Phone
4135291863
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL BOARD MEMBERS APPROVE COMPENSATION AND RELATED BENEFITS FOR EMPLOYEES AFTER ANNUAL EVALUATIONS.
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ReturnHeader/BuildTS02024-08-08 14:25:15Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0ERIC INGERSOLL
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
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ReturnHeader/PreparerPersonGrp/PreparationDt02024-07-31
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0BERNICE F LORD CPA
ReturnHeader/ReturnTs02024-09-19T08:20:26-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$823,318
Liabilities
$265,313
Net assets
$558,005
Revenue
$2,350,945
Expenses
$3,178,764
Net income
-$827,819
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.41$0.36$0.06$1.51$2.01$0.50
2023Detailed filing. Detailed filing data is available for this year.$0.82$0.27$0.56$2.35$3.18$0.83
2022Detailed filing. Detailed filing data is available for this year.$2.18$0.80$1.39$2.56$1.13$1.43
2021Detailed filing. Detailed filing data is available for this year.$0.56$0.00$0.56$0.80$0.24$0.56