Overview
What is Prime Coalition Inc?
Prime Coalition Inc, based in Cambridge, Massachusetts, is a nonprofit organization that focuses on steering and influencing capital towards scalable solutions to combat climate change. They operate with a mission to catalyze, deepen, or accelerate solutions that have the potential to significantly reduce greenhouse gas emissions. Their activities include managing an impact-first fund named Azzola Ventures, which supports early-stage climate ventures, removing systemic barriers for climate solutions through the Early Climate Infrastructure (ECI) program, and collaborating with investors and experts to assess the potential impact of today's climate investments on future greenhouse gas emissions through Project Frame. The organization aims to demystify climate investing and improve impact measurement and management with a team of 11 dedicated individuals.
Official website here: www.primecoalition.org
What are the reviews and ratings of this charity?
Prime Coalition Inc receives a Four-Star out of Four Star rating from Charity Navigator with an overall score of 92%. This rating reflects the organization's strong financial health and exceptional commitment to accountability and transparency. The score is entirely derived from its Accountability & Finance beacon, indicating robust governance and financial management practices.
The organization excels in areas like having a majority of independent board members, proper financial oversight, and a healthy liability-to-assets ratio. Additional strengths include high program expense allocation and substantial working capital. However, shortcomings such as the absence of a whistleblower and document retention policies were noted, and the organization received no points for fundraising efficiency.
While Prime Coalition is not currently evaluated on its impact, culture, or leadership, the lack of these evaluations does not necessarily imply negative performance. The organization's strengths in financial practices are significant, though improvements in fundraising efficiency and internal policy implementations could further enhance its standing. No user reviews are available on GreatNonprofits to provide additional insights into stakeholder experiences.
This AI summary has been generated from information found on Charity Navigator.
Is Prime Coalition Inc legitimate?
Prime Coalition Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Prime Coalition Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $244,744
Professional Fundraising Fees: $0
Other Salaries and Wages: $968,153
For more financial information, click here
Official website here: www.primecoalition.org
What is the mission statement of Prime Coalition Inc?
Prime Coalition Inc's mission is to guide and influence capital towards scalable solutions aimed at mitigating climate change. To achieve this, every program they implement is designed to catalyze, deepen, or accelerate initiatives that have the potential to significantly reduce greenhouse gas emissions on a large scale.
A notable example of their initiatives is Azzola Ventures, a $200 million impact-first fund, established and managed by Prime, which aims to foster transformative climate ventures at their early stages. Another program, Early Climate Infrastructure (ECI), targets climate solutions that are ready for initial commercialization or fully commercial but require additional support to achieve massive scale.
Furthermore, Prime Coalition collaborates on Project Frame, a joint effort of investors and experts, working to develop frameworks and tools to assess the potential future impact of climate investments on greenhouse gas emissions. Their goal is to clarify climate investing, enhance impact measurement, and improve management. By fostering these initiatives, Prime Coalition aims to drive significant progress towards combating climate change.
Official website here: www.primecoalition.org
Who is the CEO of Prime Coalition Inc?
Sarah Kearney is the Executive Director of Prime Coalition Inc.
Official website here: www.primecoalition.org
What is the revenue of Prime Coalition Inc?
Prime Coalition Inc's revenue in 2022 was $11,482,211.
Official website here: www.primecoalition.org
Who are the executives of Prime Coalition Inc and what are their salaries?
The average compensation at Prime Coalition Inc during 2022 was $110,263. There are 11 employees and 45 volunteers at Prime Coalition Inc.
Here are 14 key members and their salaries:
- Compensation: $211,296
- Related: $0
- Other: $33,448
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $27,719
- Related: $0
- Other: $7,009
- Compensation: $188,185
- Related: $0
- Other: $12,219
- Compensation: $175,000
- Related: $0
- Other: $0
- Compensation: $118,807
- Related: $0
- Other: $25,205
- Compensation: $127,958
- Related: $0
- Other: $15,413
- Compensation: $135,913
- Related: $0
- Other: $50
Official website here: www.primecoalition.org
Where can I find the form 990 for Prime Coalition Inc?
Prime Coalition Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.primecoalition.org
Learn more at the official website: www.primecoalition.org
Mission Statement of Prime Coalition Inc
Prime Coalition Inc, a nonprofit organization, is committed to steering and influencing capital towards scalable solutions to combat climate change. Their mission is to catalyze, deepen, or accelerate initiatives that have the potential to significantly reduce greenhouse gas emissions.
To achieve this, Prime Coalition Inc has designed various programs. One such program is Azolla Ventures, a $200 million impact-first fund established in 2021. This fund aims to support early-stage transformative climate ventures, partnering with them to achieve impact at scale.
Another program is the Early Climate Infrastructure (ECI) program. This initiative aims to remove systemic barriers for climate solutions that are ready for initial commercialization or are fully commercial but require additional support to achieve massive scale.
Moreover, Prime Coalition Inc is involved in Project Frame, a collaboration of investors and experts working to build frameworks and tools to assess the potential impact today's climate investments will have on greenhouse gas emissions in the future. The goal is to demystify climate investing and improve impact measurement and management.
In summary, Prime Coalition Inc is dedicated to guiding capital towards climate change solutions, focusing on initiatives that can significantly reduce greenhouse gas emissions. They achieve this through various programs such as Azolla Ventures, ECI, and Project Frame, which aim to catalyze, deepen, or accelerate these solutions, remove barriers, and improve impact measurement.
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Impact
July, 2024
Prime Coalition Inc steers and influences capital to support scalable solutions to climate change through various impactful initiatives. One of their noteworthy projects is Azolla Ventures, a $200 million impact-first fund aimed at catalyzing transformative climate ventures at the early stage. Additionally, their Early Climate Infrastructure program focuses on removing systemic barriers for climate solutions that are ready for initial commercialization or need support to scale massively. The Project Frame collaboration brings together investors and experts to develop frameworks and tools for assessing the potential impact of current climate investments on future greenhouse gas emissions. Prime Coalition's initiatives are designed to catalyze, deepen, and accelerate solutions that will significantly reduce greenhouse gas emissions, contributing to the fight against climate change on a meaningful scale.
This information is meant to be a general summary of Prime Coalition Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $109
- Program Service Revenue: $250,000
- Gross Receipts: $11,482,211
Assets and Liabilities:
- Total Assets: $108,161,828
- Total Liabilities: $30,223,032
- Net Assets: $77,938,796
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM SERVICES
Revenue
$250,000
Organization Details
Founding Year
2014
Phone
(404) 625-4884Principal Officer
Sarah Kearney
Main Address
625 MASSACHUSETTS AVENUE 2ND FLOOR, CAMBRIDGE, MA, 02139
Website
www.primecoalition.orgNTEE Category
Code: P20 - Human services
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