Overview
What is Climate Vault?
Climate Vault is a nonprofit organization based in Chicago, Illinois, dedicated to addressing climate change. Their mission revolves around reducing the number of carbon allowances available to CO2 emitters, aiming to ultimately decrease the amount of CO2 emitted into the atmosphere. They achieve this through the purchase of offset allowances, which are then 'vaulted,' meaning they are removed from circulation and cannot be used, thereby preventing carbon-emitting companies from purchasing the same allowances and capping future CO2 emissions. The organization intends to monetize some of the carbon dioxide allowances in its vault to fund grants for promising, cutting-edge research and technology aimed at making carbon dioxide removal more effective. In essence, Climate Vault is working to lower the concentration of greenhouse gases in the atmosphere to slow, and potentially reverse, the effects of climate change.
Official website here: www.climatevault.org
Is Climate Vault legitimate?
Climate Vault is a legitimate nonprofit organization registered as a 501(c)(3) entity. Climate Vault 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: $466,064
Professional Fundraising Fees: $0
Other Salaries and Wages: $773,914
For more financial information, click here
Official website here: www.climatevault.org
What is the mission statement of Climate Vault?
Climate Vault's mission is focused on reducing the concentration of greenhouse gases in the atmosphere to mitigate and potentially reverse the effects of climate change. This is achieved by limiting the number of carbon allowances available to CO2 emitters, thereby reducing the overall CO2 emissions. The program involves the purchase of offset allowances, which are then invested in, 'vaulting' them and preventing carbon-emitting companies from purchasing those same allowances. This action effectively caps future carbon dioxide emissions. Climate Vault intends to monetize some of the carbon dioxide allowances in its vault to grant funding to promising, innovative research and technology aimed at making carbon dioxide removal more efficient.
Official website here: www.climatevault.org
What is the revenue of Climate Vault?
Climate Vault's revenue in 2023 was $6,037,896.
Official website here: www.climatevault.org
Who are the executives of Climate Vault and what are their salaries?
The average compensation at Climate Vault during 2023 was $59,047. There are 21 employees and 6 volunteers at Climate Vault.
Here are 14 key members and their salaries:
- Compensation: $22,564
- Related: $0
- Other: $0
- Compensation: $6,563
- Related: $0
- Other: $0
- Compensation: $6,563
- 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: $87,000
- Related: $0
- Other: $0
- Compensation: $324,000
- Related: $0
- Other: $0
- Compensation: $151,083
- Related: $0
- Other: $260
- Compensation: $147,176
- Related: $0
- Other: $260
- Compensation: $131,250
- Related: $0
- Other: $6,251
- Compensation: $109,792
- Related: $0
- Other: $9,907
- Compensation: $105,403
- Related: $0
- Other: $13,071
Official website here: www.climatevault.org
Where can I find the form 990 for Climate Vault?
Climate Vault's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.climatevault.org
Learn more at the official website: www.climatevault.org
Mission Statement of Climate Vault
Climate Vault, a mission-driven organization, aims to tackle the issue of climate change by focusing on reducing the concentration of greenhouse gases in the atmosphere. Their ultimate objective is to slow, and even reverse, the effects of climate change. To achieve this, they have devised a unique program that works by reducing the number of carbon allowances available for CO2 emitters.
The program involves the purchase of offset allowances, which are then capitalized as program-related investments. This action reduces future carbon dioxide emissions by 'vaulting' them, preventing carbon-emitting companies from purchasing those same allowances and capping future carbon dioxide emissions.
In an innovative approach, Climate Vault intends to monetize some of the carbon dioxide allowances in its vault to award grants to promising, cutting-edge research and technology aimed at making carbon dioxide removal more effective. This strategy not only contributes to the reduction of greenhouse gas emissions but also supports the development of advanced solutions for carbon dioxide removal, contributing to a more sustainable future.
Shop smarter and support your favorite cause with the Give Freely browser extension. Save money with coupons and donate to charity with a single click. Download now!
Impact
June, 2024
Climate Vault's impact lies in its innovative approach to reducing carbon emissions and combating climate change. By purchasing offset allowances and vaulting them, Climate Vault effectively reduces the number of carbon allowances available for CO2 emitters. This proactive strategy ultimately aims to lower the CO2 being emitted into the atmosphere, helping to slow and potentially reverse the effects of climate change. Additionally, Climate Vault plans to monetize some of the carbon dioxide allowances in its vault to fund promising research and technologies focused on enhancing carbon dioxide removal. Through these initiatives, Climate Vault is not only actively working to reduce carbon emissions but also supporting advancements in sustainable practices.
This information is meant to be a general summary of Climate Vault. 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: $23
- Gross Receipts: $6,696,937
Assets and Liabilities:
- Total Assets: $9,733,950
- Total Liabilities: $3,609,353
- Net Assets: $6,124,597
Want to help this charity, for free? You can click here to learn more about Give Freely
Organization Details
Founding Year
2020
Principal Officer
Jason M Grant
Website
www.climatevault.orgNTEE Category
Code: C20 - Environment
If you are a representative of Climate Vault and wish to learn more about how Give Freely can help you raise funds, please click here: https://givefreely.com/nonprofits/. Our services are offered at no cost to your organization.