2024-07-01T11:54:20-05:00 2023-12-31 582676261 Rogers & Company PLLC 8300 Boone Boulevard Suite 600 Vienna VA 22182 990 2023-01-01 270566795 Verra VERR 2024802282 One Thomas Circle NW 1050 Washington DC 200055817 Judith Simon President and Interim CEO 2024802282 2024-07-01 1 Judith Simon XXX-XX-XXXX 1 Lori A Collingsworth P00639819 7038930300 2024-07-01 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z Judith Simon One Thomas Circle NW 1050 Washington DC 200055817 29804931 0 X https://verra.org/ X 2009 DC Verra sets the world's leading standards for climate action and sustainable development. 10 10 100 215 0 0 492748 16137 31441144 28157921 490350 1630873 0 0 32424242 29804931 167823 0 0 0 13343901 21182278 0 0 0 12745365 17927677 26257089 39109955 6167153 -9305024 57769889 47899270 5102408 4536813 52667481 43362457 X Verra develops and manages standards that help countries, the private sector and civil society achieve their sustainable development and climate action goals. 0 0 25509169 25131276 VCS Program: The Verified Carbon Standard (VCS) Program certifies projects that reduce and remove greenhouse gas emissions. Projects undergo a rigorous development and assessment process before applying for registration with the VCS Program. Projects are issued with verified carbon units which they can use to finance their activities. 361661 2640082 CCB Program: The Climate Community and Biodiversity (CCB) Standards program certifies projects that simultaneously address climate change, support local communities and smallholders, and conserve biodiversity. The CCB Standards are often used in conjunction with VCS Program-certified land management projects, including reforestation, afforestation, vegetation, forest restoration, agroforestry and sustainable agriculture projects. 220448 366732 SDVISta Program: The Sustainable Development Verified Impact Standard (SD VISta) is a framework for assessing and reporting on the sustainable development benefits of project-based activities. It helps unlock new sources of finance to support and scale up high-impact efforts that align with the United Nations' Sustainable Development Goals (SDGs). 363229 19831 363229 19831 26454507 1 1 0 1 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 46 0 1 100 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Jackie Levy Director of Financial 2024802282 1 Thomas Circle NW Suite 1050 Washington DC 200055817 Kenneth Markowitz Chair (Mar-Dec) 4.00 X X 0 0 0 Tao Yun Chair (Jan-Mar) 4.00 X X 0 0 0 Anne-Marie Warris Vice Chair (Jan-Mar) 2.00 X X 0 0 0 Jim Cannon Vice Chair (Mar-Dec) 2.00 X X 0 0 0 Dirk Forrister Board Member 1.00 X 0 0 0 Mark Kenber Board Member 1.00 X 0 0 0 Kelley Kizzier Board Member 1.00 X 0 0 0 Julie McLaughlin Board Member 1.00 X 0 0 0 Ken Newcombe Board Member 1.00 X 0 0 0 Anshari Rahman Board Member 1.00 X 0 0 0 Mandy Rambharos Board Member 1.00 X 0 0 0 Marc Stuart Board Member 1.00 X 0 0 0 David Antonioli Chief Executive Officer (thru Jun) 40.00 X 475183 0 72052 William Ferretti Chief Operating & Financial Officer 40.00 X 320731 0 58239 Judith Simon President and Interim CEO 40.00 X 337453 0 62930 Toby Janson-Smith Chief Innovation Officer 40.00 X 286010 0 67044 Robin Rix Chief Legal Officer 40.00 X 289626 0 20482 Hillary Navarro Chief Communications Officer 40.00 X 184168 0 32662 Farhan Ahmed Chief Program Officer 40.00 X 233167 0 51847 Jerry Seager Sr. Director, VCS Program Management 40.00 X 244628 0 37536 Julianne J Baroody Sr. Dir., Forest Carbon Innovation 40.00 X 208670 0 39478 Benktesh Sharma Sr. Director, Technology Solutions 40.00 X 210839 0 47829 Barbara A Davis Director of Technology Management 40.00 X 169924 0 55285 Ben B Carrier Legal Director 40.00 X 145806 0 24001 3106205 0 569385 22 0 1 0 Globalization Partners 175 Federal St 17th Floor Boston MA 02110 Professional employment services 11786217 APX Inc 2150 North First Street Suite 463 San Jose CA 95131 Design & maintain in-house registry 1991066 LevelUp HCS LLC co Access Capital Inc 400 Park Avenue 19th Floor New York NY 10022 Recruitment outsourcing services 686124 Concision Global Consulting LLC 100 N Howard St Suite 4000 Spokane WA 99201 Leadership advisory services 578213 Browning Environmental Communications LL 900 17th Street NW Suite 900 Washington DC 20006 Communications management services 569959 39 16137 16137 VCS, CCB, and SD VISta levies 900099 23349289 23349289 Registry income 900099 3455467 3455467 Ver., Val, and acct. opening fees 900099 1222334 1222334 Methodology approval processing 900099 111500 111500 Plastics project revenue 900099 15000 15000 4331 4331 28157921 1630873 1630873 29804931 28157921 0 1630873 X 2491594 1927903 563691 426983 426983 13816300 10686579 3129721 568045 437090 130955 3221945 2481500 740445 657411 506471 150940 2813406 586182 2227224 47894 47894 8599224 7204575 1394649 2551367 570993 1980374 411369 350660 60709 281945 58744 223201 1236666 777622 459044 898819 290529 608290 306431 306431 188597 39295 149302 Subscriptions & dues 517734 109381 408353 Credit losses provision 74225 74225 39109955 26454507 12655448 0 651626 681293 52761284 41791100 2203476 2586364 1146673 2225250 1458148 1128610 473904 329538 532926 285725 57769889 47899270 4498371 4226287 604037 310526 5102408 4536813 X 52667481 43362457 52667481 43362457 57769889 47899270 -9305024 0 X X 0 1 X 1 0 X 2042131 1736811 1522332 492748 16137 5810159 11813533 19038639 38956641 31441144 28157921 129407878 13855664 20775450 40478973 31933892 28174058 135218037 0 4517068 2178169 9841133 8605763 7142412 32284545 4517068 2178169 9841133 8605763 7142412 32284545 102933492 62651 36037 26486 490364 1630873 2246411 62651 36037 26486 490364 1630873 2246411 13918315 20811487 40505459 32424256 29804931 137464448 0.74880 0.75610 0.01630 0.00540 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 39109955 39109955 1000000 250000 0 0 1000000 1000000 1000000 3000000 4500000 250000 250000 250000 750000 1125000 Schedule C, Part II-A A 501(h) election was filed during 2021 to be effective beginning with the 2021 tax year. Verra had no lobbying activities for tax years 2021, 2022 and 2023. 688986 610385 78601 623070 380259 242811 146092 137966 8126 329538 Lease liability operating lease 161356 Deferred compensation liabilities 149170 310526 X 29804931 0 29804931 0 29804931 39109955 0 39109955 0 39109955 Part X, Line 2: Management has evaluated Verra's tax positions and concluded that the financial statements do not include any uncertain tax positions. 1 Central America and the Carribean 0 7 Program Services VCS, SDVISta, CCB, Innovations, Plastics, AG&C 117908 East Asia and the Pacific 0 5 Program Services VCS, SDVISta, CCB, Innovations, Plastics, AG&C 410398 Europe 0 26 Program Services VCS, SDVISta, CCB, Innovations, Plastics, AG&C, Project Hub 3662572 Middle East & North Africa 0 1 Program Services VCS, SDVISta 11438 North America 0 15 Program Services VCS, SDVISta, CCB, Innovations, Plastics, AG&C, Project Hub 2997368 South America 0 18 Program Services VCS, SDVISta, CCB, Innovations, Plastics, AG&C 2743773 South Asia 0 9 Program Services VCS, SDVISta, CCB, Innovations, Plastics, AG&C 889370 Sub-Saharan Africa 0 11 Program Services VCS, SDVISta, CCB, Innovations, Plastics, AG&C 1152212 0 92 0 0 0 92 11985039 0 11985039 0 0 0 0 0 0 Part I, Line 2: VERRA collects all receipts from sub grantees for expenses reported. If an audit is required at the end of a grant, the organization has provided trainings to ensure proper accounting and documentation of grant expenses. Part I, line 3: Foreign expenditures are directly tracked and accounted for on the accrual method of accounting. X X 1 0 0 0 0 0 0 0 0 David Antonioli Chief Executive Officer (thru Jun) 325652 0 0 0 149531 0 34313 0 37739 0 547235 0 0 0 Judith Simon President and Interim CEO 296953 0 40000 0 500 0 28500 0 34430 0 400383 0 0 0 William Ferretti Chief Operating & Financial Officer 252139 0 24605 0 43987 0 26168 0 32071 0 378970 0 0 0 Toby Janson-Smith Chief Innovation Officer 261319 0 24691 0 0 0 26540 0 40504 0 353054 0 0 0 Robin Rix Chief Legal Officer 267380 0 22246 0 0 0 13324 0 7158 0 310108 0 0 0 Farhan Ahmed Chief Program Officer 202667 0 30000 0 500 0 15514 0 36333 0 285014 0 0 0 Jerry Seager Sr. Director, VCS Program Management 223211 0 21417 0 0 0 22379 0 15157 0 282164 0 0 0 Benktesh Sharma Sr. Director, Technology Solutions 193156 0 17683 0 0 0 19313 0 28516 0 258668 0 0 0 Julianne J Baroody Sr. Dir., Forest Carbon Innovation 191394 0 17276 0 0 0 19313 0 20165 0 248148 0 0 0 Barbara A Davis Director of Technology Management 168549 0 1375 0 0 0 17228 0 38057 0 225209 0 0 0 Hillary Navarro Chief Communications Officer 153668 0 30000 0 500 0 14385 0 18277 0 216830 0 0 0 Ben B Carrier Legal Director 140592 0 5214 0 0 0 13923 0 10078 0 169807 0 0 0 Part I, Line 4a David Antonioli, Chief Executive Officer through June, received severance compensation in the amount of $149,531 in calendar year 2023. Climate Focus North America Inc 35% controlled entity of Former Board Member Charlotte Streck 426983 Program Service activities- Review methodologies services provided 0 0 Form 990, Part I, Line 6, Volunteers: Verra utilized a number of advisory or working groups and committees to provide strategic resources to support the development and continuous development of its standards programs. These groups are comprised largely of volunteers that are experts and key stakeholders in their field from foundations, non-profits, corporate organizations, educational institutions, governmental and multilateral organizations and Verra's board of directors. In 2023, Verra had approximately 215 volunteers helping to drive impact across Verra's programmatic areas. Form 990, Part III, Line 4d, Other Program Services: Plastics Waste Reduction Program: The Plastic Waste Reduction Program (Plastic Program) provides the means for consistent accounting, independent auditing and crediting of new or scaled-up waste collection and recycling projects. Innovations: This program works to develop new methodologies, tools, program updates and other innovations to enable the VCS and other Verra programs to meet emerging needs and opportunities. Most notably, Verra launched a new revolutionary REDD Methodology to support forest conservation projects in November 2023. Advisory Groups and Committees: Verra convenes a number of advisory or working groups and multi-stakeholder committees that provide strategic resources to support the development of its standards programs. Project Hub and Tracker: Verra has launched digital platforms and tools to support climate and sustainability projects. The Project Tracker provides stakeholders with projects listed on the Verra Registry with more visibility into the project review process status, timeline, and service legal agreements (SLA). The Verra Project Hub also provides the ability to submit non-permanent risk reports digitally and notices of validation and verification services to Verra. Verra also launched the Project Location Review Tool (PLRT) in the Project Hub which allows us to evaluate the boundary overlap issues and proximity to prevent the risk of double counting. We have connected our Registry Data with Climate Action Data Trust through the Project Hub to provide general transparency of our data. These digital tools make our processes smoother, more efficient, and more accessible for users worldwide. Users from 132 countries have accessed the Project Hub since its launch in October 2023. Form 990, Part VI, Section A, line 4 Updates were made to account for the new position of President that reports to the Board. Changes include appointment and election of the President (Art 6.1c and 8.01). Powers and duties of the President (8.04b, 8.06 and 9.02) Form 990, Part VI, Section B, line 11b Form 990 is prepared by an outside CPA firm, which is reviewed in detail by CEO. Then a copy of Form 990 is electronically provided to the entire Board prior to signing and filing with the IRS. Form 990, Part VI, Section B, line 12c The Board acknowledges the conflict of interest policy at its annual meeting. All employees sign a conflict of interest form annually. Form 990, Part VI, Section B, line 15 The salary and bonus for the CEO is determined by the Board. The general frame for other officers or key employee salary adjustments, bonuses and any changes in fringe benefits are decided by the Board upon proposals by the CEO. The CEO is responsible for final decisions regarding all individual salary levels, salary adjustments and bonus allocations. Form 990, Part VI, Section C, line 19 The Organization's governing documents and financial statements are available to the public upon request. Form 990, Part IX, line 11g Registry Developers: Program service expenses 1,489,242. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,489,242. Methodology Developers: Program service expenses 128,434. Management and general expenses 0. Fundraising expenses 0. Total expenses 128,434. Other Contractors and Consultants: Program service expenses 5,586,899. Management and general expenses 1,394,649. Fundraising expenses 0. Total expenses 6,981,548. Form 990, Part XII, Line 2c: The Organization's Audit & Finance Committee is responsible for the oversight of the audit. The Audit & Finance Committee recommends an independent accountant to conduct the audit and the Board approves. The process is consistent with previous years.