Overview
What is Cool Effect Inc?
Cool Effect Inc is a California-based nonprofit organization located at 100 Drakes Landing, Greenbrae, CA, 94904. Their mission is to combat climate change by financially backing carbon emission reduction projects around the world. The public is educated on the repercussions of climate change and encouraged to contribute to these projects, empowering individuals and businesses to take part in the fight against global warming. Cool Effect conducts meticulous analysis of potential projects, ensuring they meet stringent standards set by third-party organizations, such as the Gold Standard, Verified Carbon Standard, and Climate Action Reserve. Once approved, Cool Effect's team of scientists performs a rigorous evaluation to ensure the projects effectively reduce carbon emissions. With a workforce of three dedicated employees, Cool Effect fosters collective action to create significant environmental impact.
Official website here: www.cooleffect.org
What are the reviews and ratings of this charity?
85% rating from Charity Navigator.
Cool Effect Inc has received a Three-Star out of Four Star rating, reflecting its strong performance in Accountability & Finance, with a score of 85%. This rating indicates a reliable level of financial management and oversight, essential for donor confidence. The organization demonstrates robust governance practices, including a fully independent board and comprehensive auditing measures.
Strengths of Cool Effect Inc include a high program expense ratio of 98.63%, ensuring that the majority of funds are directed toward its mission rather than administrative costs. Additionally, the organization has a perfect score in areas such as conflict of interest policies, whistleblower protections, and oversight of financial statements, which underlines its commitment to transparency and ethical management.
However, some limitations are evident, particularly in the working capital ratio, which stands at just 0.33 years, suggesting potential liquidity concerns. While the fundraising efficiency is exemplary at $0.00, indicating no fundraising costs, the overall financial health may benefit from additional capital management strategies to enhance sustainability.
This AI summary has been generated from information found on Charity Navigator.
Is Cool Effect Inc legitimate?
Cool Effect Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Cool Effect 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: $471,151
Professional Fundraising Fees: $0
Other Salaries and Wages: $422,766
For more financial information, click here
Official website here: www.cooleffect.org
What is the mission statement of Cool Effect Inc?
Cool Effect Inc is dedicated to helping mitigate climate change by backing carbon-reducing projects worldwide through crowdfunding. Their belief is that small contributions can lead to significant planetary impacts. Cool Effect's platform fosters unity among individuals to support top-tier carbon emission reduction initiatives.
Through education on climate change and soliciting donations, Cool Effect enables people and businesses to take a stand against global warming. The organization meticulously evaluates prospective projects based on both scientific merit and robust business structure. Third-party standard-keeping organizations, such as the Gold Standard, Verified Carbon Standard, and Climate Action Reserve, must first approve all projects under consideration.
Furthermore, Cool Effect conducts a thorough review process using their team of scientists to ensure each project meets stringent criteria before being supported. By backing these verified projects, Cool Effect is empowering the global community to collectively make a difference in the fight against climate change.
Official website here: www.cooleffect.org
Who is the CEO of Cool Effect Inc?
Jodi Manning is the CEO of Cool Effect Inc The CEO's salary of Cool Effect Inc is $0 and their total compensation is $359,209.
Official website here: www.cooleffect.org
What is the revenue of Cool Effect Inc?
Cool Effect Inc's revenue in 2023 was $18,784,571.
Official website here: www.cooleffect.org
Who are the executives of Cool Effect Inc and what are their salaries?
The average compensation at Cool Effect Inc during 2023 was $297,972. There are 3 employees and 10 volunteers at Cool Effect Inc.
Here are 10 key members and their salaries (Cool Effect Inc's CEO's salary is $0 and their total compensation is $359,209):
- Compensation: $0
- Related: $359,209
- Other: $0
- Compensation: $0
- Related: $116,507
- Other: $0
- Compensation: $0
- Related: $111,942
- 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: $0
- Related: $0
- Other: $0
Official website here: www.cooleffect.org
Where can I find the form 990 for Cool Effect Inc?
Cool Effect Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.cooleffect.org
Learn more at the official website: www.cooleffect.org
Mission Statement of Cool Effect Inc
Cool Effect Inc, a mission-driven organization, is dedicated to making a significant impact on the global climate crisis by supporting carbon-reducing projects through crowd funding. With a strong belief that small actions can lead to planet-sized changes, Cool Effect has established a platform that brings together individuals and businesses to invest in the world's best carbon emission reduction projects.
By harnessing the power of collective action, Cool Effect empowers its supporters to take a stand against climate change and contribute to the fight in a meaningful way. The organization's rigorous evaluation process ensures that only projects that meet the highest standards for carbon reduction are selected for funding. This rigorous process includes approval from recognized third-party standard-keeping organizations such as the Gold Standard, Verified Carbon Standard, and Climate Action Reserve, among others.
Cool Effect's team of scientists conducts an extensive review of each project to verify their carbon reduction claims and ensure that they meet Cool Effect's stringent standards. The organization's commitment to transparency and accountability ensures that all supporters can trust that their contributions are making a real difference in reducing carbon emissions across the globe. Through Cool Effect's platform, individuals and businesses can make a tangible impact on the future of our planet by supporting verified carbon-reducing projects.
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Impact
October, 2024
Cool Effect Inc is dedicated to combating climate change by funding verified carbon reduction projects worldwide through crowdfunding. By empowering individuals and businesses, it fosters a collective action towards reducing carbon emissions. The organization emphasizes education, informing the public about climate change and the significance of active participation.
Cool Effect meticulously evaluates potential carbon reduction projects, ensuring they meet rigorous standards established by third-party organizations like the Gold Standard and Verified Carbon Standard. This thorough vetting process includes scientific reviews by a team of experts, allowing supporters to contribute with confidence that their contributions will lead to meaningful impact.
Ultimately, Cool Effect believes that small actions can lead to significant change, creating a platform where people unite to support the best initiatives aimed at decreasing greenhouse gas emissions, thus working towards a healthier planet.
This information is meant to be a general summary of Cool Effect 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 2023.
- Investment Income: $15,369
- Program Service Revenue: $140,000
- Gross Receipts: $18,784,571
Assets and Liabilities:
- Total Assets: $6,719,079
- Total Liabilities: $1,245,197
- Net Assets: $5,473,882
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Project Finder Fee
Revenue
$140,000
Organization Details
Founding Year
2015
Principal Officer
Richard H Lawrence Jr
Website
www.cooleffect.orgNTEE Category
Code: C60 - Environment
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