Civic Intelligence

Terraset

990 • Fiscal year 2023 • EIN 88-1122351

Jan 01, 2023 to Dec 31, 2023 • Filed on May 09, 2024

Organization ProfileWWW.TERRASETCLIMATE.ORG
2525 Arapahoe Ave Ste E4 706Boulder, CO 80302

(415) 624-9320

Siviq Scores

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

Liabilities / Assets

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Net Margin

90th percentile

47%

Higher net margin than 90% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

91st percentile

$119,146

Higher top officer pay than 91% of similar nonprofits.

Top officer pay equals 12.0% of source-year revenue.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Source year 2023

Asset Growth

98th percentile

453%

Faster asset growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

98th percentile

543%

Faster revenue growth than 98% of similar nonprofits.

2023 filings • 501(c)3 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets32nd percentile

Assets

Up

$569,118

Up $466,195 (+453%) from 2022

Net Assets

Up

$569,118

Up $472,552 (+489%) from 2022

Liabilities

Down

$0

Down $6,357 (-100%) from 2022

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin90th percentile

Revenue

Up

$995,334

Up $840,464 (+543%) from 2022

Expenses

Up

$522,782

Up $464,478 (+797%) from 2022

Net Income

Up

$472,552

Up $375,986 (+389%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth98th percentile

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

$1.0M$500K$0Assets 2022: $102,923Liabilities 2022: $6,357Net Assets 2022: $96,5662022Assets 2023: $569,118Liabilities 2023: $0Net Assets 2023: $569,1182023Assets 2024: $847,059Liabilities 2024: $121,488Net Assets 2024: $725,5712024

Highlighted filing

2023

Assets$569,118
Liabilities$0
Net Assets$569,118
Open 2023 Filing

Operations Trend

Revenue Growth98th percentile

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

$4.0M$3.0M$2.0M$1.0M$0Revenue 2022: $154,870Expenses 2022: $58,304Net Income 2022: $96,5662022Revenue 2023: $995,334Expenses 2023: $522,782Net Income 2023: $472,5522023Revenue 2024: $3,573,511Expenses 2024: $3,417,532Net Income 2024: $155,9792024

Highlighted filing

2023

Revenue$995,334
Expenses$522,782
Net Income$472,552
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 9, 2024
Return Version
2023v5.0
Gross Receipts
$995,334
Mission and Program Overview

Mission

Terraset uses philanthropic capital to purchase permanent, high-quality carbon removal. We pool donations from individuals, foundations, family offices, and donor advised funds, and make strategic purchases of high-quality carbon removal from innovative projects and companies.

Terraset is a 501(c)(3) that uses philanthropic capital to purchase permanent, high-quality carbon removal. We pool tax-deductible donations from individuals, foundations, family offices, and donor advised funds, and make strategic purchases of permanent, high-quality carbon removal from innovative projects and companies.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$96,566$569,118▲ $472,552
Cash and Non-Interest-Bearing Accounts$93,886$563,271▲ $469,385
Land, Buildings, and Equipment, Net$9,037$5,847▼ $3,190
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Total Assets$102,923$569,118▲ $466,195
Liabilities
Accounts Payable and Accrued Expenses$6,357--
Total Liabilities$6,357$0▼ $6,357
Net Assets / Fund Balance
Total Net Assets Fund Balance$96,566$569,118▲ $472,552
Total Liabilities and Net Assets / Fund Balance$102,923$569,118▲ $466,195

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$5,847$3,722$9,569
Compensation and Service Providers
Top Officer Pay91st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Adam FraserCEO and PresidentFT$115,911$3,235$119,146
Erzsi SousaINT Director THR: 9/23, SECR FR: 10/23PT$35,600-$35,600

Board Members and Trustees

NameTitle
Alex RoetterFounder and Chair
Chris WeddingCO-FNDR THR: 9/23, TREAS FR: 10/23
Jeremy GinsbergSECRETARY THR: 9/23
Adam SmithTREASURER THR: 9/23
Revenue and Support

Revenue Composition

Contributions and Grants
$995,334
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$0
All Other Contributions
$995,334
Change in Net Assets
$472,552
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$356,261
Salaries, Compensation, and Employee Benefits$166,521
Total Fundraising Expense$99,912
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$46,424$15,475$92,847$154,746
Fees for Services Other$17,910--$17,910
Payroll Taxes$3,533$1,177$7,065$11,775
Fees for Services Legal$5,576--$5,576
Depreciation Depletion-$3,190-$3,190
Office Expenses$2,747--$2,747
Fees for Services Accounting-$2,241-$2,241
Information Technology$925--$925
Conferences and Meetings$150--$150
Travel$121--$121
Other Expenses$57--$57
Total Functional Expenses$400,787$22,083$99,912$522,782
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
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 8B

“There are no committees with authority to act on behalf of the governing body.”

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

“The 990 will be provided to all members of the board of directors by the ceo with the opportunity to provide verbal or written feedback before filing.”

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

“The conflict of interest policy is distributed to board directors, employees and relevant parties on an annual basis. Board directors and key employees must return a signed acknowledgment of receipt of the policy. The policy includes periodic reviews and allows the use of outside experts on relevant matters.”

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

“We did extensive research to determine the compensation for our new ceo (the only fte in 2023). This included: speaking to current and previous nonprofit executive directors and ceos of various sizes (eg. Budget/revenue of $1m-$1b); speaking to 3rd party nonprofits consultants; 3rd party research on approaches to nonprofit compensation structures (eg. National council of nonprofits); and compensation aggregators and databases (eg. Salary.com, glassdoor.com, ziprecruiter).”

Form 990, Part VI, Section C, Line 18

“UPON REQUEST”

Form 990, Part VI, Section C, Line 19

“Governing documents, conflict of interest policy, and financial statements were not made available to the public”

Filing and Contact Details

Filer

Filer Name
Terraset
EIN
88-1122351
Phone
4156249320
Address
2525 ARAPAHOE AVE STE E4 706, BOULDER, CO 80302

Signing Officer

Name
Alex Roetter
Title
Founder & Chair
Phone
4156249320
Signed
2024-05-09
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Alex Roetter
Formed
2022
Legal Domicile
Co
Voting Board Members
3
Independent Board Members
3
Employees
1
Volunteers
7

Preparer

Firm
Blackman & Sloop Cpas Pa
Address
1414 RALEIGH ROAD SUITE 300, CHAPEL HILL, NC 27517
Preparer
Elizabeth Mauch
Phone
9199428700
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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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IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0THE ORGANIZATIONS FIRST YEAR BEGAN IN MARCH OF 2022.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE 990 WILL BE PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS BY THE CEO WITH THE OPPORTUNITY TO PROVIDE VERBAL OR WRITTEN FEEDBACK BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO BOARD DIRECTORS, EMPLOYEES AND RELEVANT PARTIES ON AN ANNUAL BASIS. BOARD DIRECTORS AND KEY EMPLOYEES MUST RETURN A SIGNED ACKNOWLEDGMENT OF RECEIPT OF THE POLICY. THE POLICY INCLUDES PERIODIC REVIEWS AND ALLOWS THE USE OF OUTSIDE EXPERTS ON RELEVANT MATTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3WE DID EXTENSIVE RESEARCH TO DETERMINE THE COMPENSATION FOR OUR NEW CEO (THE ONLY FTE IN 2023). THIS INCLUDED: SPEAKING TO CURRENT AND PREVIOUS NONPROFIT EXECUTIVE DIRECTORS AND CEOS OF VARIOUS SIZES (EG. BUDGET/REVENUE OF $1M-$1B); SPEAKING TO 3RD PARTY NONPROFITS CONSULTANTS; 3RD PARTY RESEARCH ON APPROACHES TO NONPROFIT COMPENSATION STRUCTURES (EG. NATIONAL COUNCIL OF NONPROFITS); AND COMPENSATION AGGREGATORS AND DATABASES (EG. SALARY.COM, GLASSDOOR.COM, ZIPRECRUITER).
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS WERE NOT MADE AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 8B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 19
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0CO
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0102923
IRS990/TotalAssetsEOYAmt0569118
IRS990/TotalAssetsGrp/BOYAmt0102923
IRS990/TotalAssetsGrp/EOYAmt0569118
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0995334
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt099912
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt022083
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0400787
IRS990/TotalFunctionalExpensesGrp/TotalAmt0522782
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt06357
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt06357
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt096566
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0569118
IRS990/TotalOtherCompensationAmt03235
IRS990/TotalProgramServiceExpensesAmt0400787
IRS990/TotalReportableCompFromOrgAmt0151511
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0995334
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt07
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0102923
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0569118
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/ProgramServicesAmt0121
IRS990/TravelGrp/TotalAmt0121
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt02525 ARAPAHOE AVE STE E4 706
IRS990/USAddress/CityNm0BOULDER
IRS990/USAddress/StateAbbreviationCd0CO
IRS990/USAddress/ZIPCd080302
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0WWW.TERRASETCLIMATE.ORG
IRS990/WhistleblowerPolicyInd01
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd02
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ALEX ROETTER
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0FOUNDER & CHAIR
ReturnHeader/BusinessOfficerGrp/PhoneNum04156249320
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-09
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0TERRASET
ReturnHeader/Filer/BusinessNameControlTxt0TERR
ReturnHeader/Filer/EIN0881122351
ReturnHeader/Filer/PhoneNum04156249320
ReturnHeader/Filer/USAddress/AddressLine1Txt02525 ARAPAHOE AVE STE E4 706
ReturnHeader/Filer/USAddress/CityNm0BOULDER
ReturnHeader/Filer/USAddress/StateAbbreviationCd0CO
ReturnHeader/Filer/USAddress/ZIPCd080302
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561304727
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BLACKMAN & SLOOP CPAS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01414 RALEIGH ROAD SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHAPEL HILL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027517
ReturnHeader/PreparerPersonGrp/PhoneNum09199428700
ReturnHeader/PreparerPersonGrp/PreparationDt02024-05-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ELIZABETH MAUCH
ReturnHeader/ReturnTs02024-05-10T10:25:12-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0ALEX
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0ROETTER
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

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

Open filing
Assets
$569,118
Liabilities
$0
Net assets
$569,118
Revenue
$995,334
Expenses
$522,782
Net income
$472,552
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.85$0.12$0.73$3.57$3.42$0.16
2023Detailed filing. Detailed filing data is available for this year.$0.57$0.00$0.57$1.00$0.52$0.47
2022Detailed filing. Detailed filing data is available for this year.$0.10$0.01$0.10$0.15$0.06$0.10