﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2024v5.1" xmlns="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-11-13T21:39:42-05:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <ReturnTypeCd>990EZ</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>863389232</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>KULSHAN CARBON TRUST</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>KULS</BusinessNameControlTxt>
      <PhoneNum>7034078341</PhoneNum>
      <USAddress>
        <AddressLine1Txt>1515 LARRABEE AVE</AddressLine1Txt>
        <CityNm>BELLINGHAM</CityNm>
        <StateAbbreviationCd>WA</StateAbbreviationCd>
        <ZIPCd>982257429</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Carrie Brausieck</PersonNm>
      <PersonTitleTxt>Executive Director</PersonTitleTxt>
      <PhoneNum>7034078341</PhoneNum>
      <SignatureDt>2025-11-14</SignatureDt>
    </BusinessOfficerGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="4">
    <IRS990EZ documentId="IRS990EZ" softwareId="24020810" softwareVersionNum="V1.0" documentName="IRS990EZ" referenceDocumentName="IRS990ScheduleO ReasonableCauseExplanation TransfersPersonalBenefitsContractsDeclaration BinaryAttachment">
      <InitialReturnInd>X</InitialReturnInd>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <WebsiteAddressTxt>https://www.kulshancarbontrust.org/</WebsiteAddressTxt>
      <Organization501c3Ind referenceDocumentId="IRS990ScheduleA" referenceDocumentName="IRS990ScheduleA">X</Organization501c3Ind>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <GrossReceiptsAmt>134793</GrossReceiptsAmt>
      <InfoInScheduleOPartIInd>X</InfoInScheduleOPartIInd>
      <ContributionsGiftsGrantsEtcAmt>44789</ContributionsGiftsGrantsEtcAmt>
      <ProgramServiceRevenueAmt>83300</ProgramServiceRevenueAmt>
      <InvestmentIncomeAmt>4599</InvestmentIncomeAmt>
      <GainOrLossFromSaleOfAssetsAmt>0</GainOrLossFromSaleOfAssetsAmt>
      <FundraisingGrossIncomeAmt fndrsngEventContriPrevRptAmt="0" referenceDocumentName="IRS990ScheduleG">2105</FundraisingGrossIncomeAmt>
      <SpecialEventsDirectExpensesAmt>375</SpecialEventsDirectExpensesAmt>
      <SpecialEventsNetIncomeLossAmt>1730</SpecialEventsNetIncomeLossAmt>
      <GrossProfitLossSlsOfInvntryAmt>0</GrossProfitLossSlsOfInvntryAmt>
      <TotalRevenueAmt>134418</TotalRevenueAmt>
      <SalariesOtherCompEmplBnftAmt>114018</SalariesOtherCompEmplBnftAmt>
      <FeesAndOtherPymtToIndCntrctAmt>8012</FeesAndOtherPymtToIndCntrctAmt>
      <PrintingPublicationsPostageAmt>5520</PrintingPublicationsPostageAmt>
      <OtherExpensesTotalAmt>8065</OtherExpensesTotalAmt>
      <TotalExpensesAmt>135615</TotalExpensesAmt>
      <ExcessOrDeficitForYearAmt>-1197</ExcessOrDeficitForYearAmt>
      <NetAssetsOrFundBalancesBOYAmt>6070</NetAssetsOrFundBalancesBOYAmt>
      <OtherChangesInNetAssetsAmt>-16650</OtherChangesInNetAssetsAmt>
      <NetAssetsOrFundBalancesEOYAmt>-11777</NetAssetsOrFundBalancesEOYAmt>
      <InfoInScheduleOPartIIInd>X</InfoInScheduleOPartIIInd>
      <CashSavingsAndInvestmentsGrp>
        <BOYAmt>18377</BOYAmt>
        <EOYAmt>8091</EOYAmt>
      </CashSavingsAndInvestmentsGrp>
      <OtherAssetsTotalDetail>
        <BOYAmt>31269</BOYAmt>
        <EOYAmt>15371</EOYAmt>
      </OtherAssetsTotalDetail>
      <Form990TotalAssetsGrp>
        <BOYAmt>49646</BOYAmt>
        <EOYAmt>23462</EOYAmt>
      </Form990TotalAssetsGrp>
      <SumOfTotalLiabilitiesGrp>
        <BOYAmt>43576</BOYAmt>
        <EOYAmt>35239</EOYAmt>
      </SumOfTotalLiabilitiesGrp>
      <NetAssetsOrFundBalancesGrp>
        <BOYAmt>6070</BOYAmt>
        <EOYAmt>-11777</EOYAmt>
      </NetAssetsOrFundBalancesGrp>
      <PrimaryExemptPurposeTxt>To enhance soil vitality and support thriving ecosystems by capturing, conserving, and stabilizing carbon through collaborative natural climate solutions that support northwest WA communities practicing regeneration.</PrimaryExemptPurposeTxt>
      <ProgramSrvcAccomplishmentGrp>
        <DescriptionProgramSrvcAccomTxt>Community Biochar Program involved with the restoration and integration of carbon retaining compost to local agricultural services. KCT issued its first verified carbon-removal credits for biochar produced through our community biochar program.</DescriptionProgramSrvcAccomTxt>
        <GrantsAndAllocationsAmt>80000</GrantsAndAllocationsAmt>
        <ProgramServiceExpensesAmt>80000</ProgramServiceExpensesAmt>
      </ProgramSrvcAccomplishmentGrp>
      <TotalProgramServiceExpensesAmt>80000</TotalProgramServiceExpensesAmt>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm referenceDocumentName="CompensationExplanation">Gabe Travis</PersonNm>
        <TitleTxt>Program Director</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>38</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>44655</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm referenceDocumentName="CompensationExplanation">Howard Sharfstein</PersonNm>
        <TitleTxt>CoFounder &amp; President</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>0</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm referenceDocumentName="CompensationExplanation">Steve Hollenhorst</PersonNm>
        <TitleTxt>Cofounder and Vice President</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>1</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm referenceDocumentName="CompensationExplanation">Sarah Parker</PersonNm>
        <TitleTxt>Secretary</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>10</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm referenceDocumentName="CompensationExplanation">Martin Mehalchin</PersonNm>
        <TitleTxt>Treasurer</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>1</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm referenceDocumentName="CompensationExplanation">Andrew Shelton</PersonNm>
        <TitleTxt>Board Member</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>1</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm referenceDocumentName="CompensationExplanation">Erika McPheeShaw</PersonNm>
        <TitleTxt>Board Member</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>1</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm referenceDocumentName="CompensationExplanation">Stephanie Cilinceon</PersonNm>
        <TitleTxt>Board Member</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>1</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>0</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
      <ChgMadeToOrgnzngDocNotRptInd>false</ChgMadeToOrgnzngDocNotRptInd>
      <OrganizationHadUBIInd>false</OrganizationHadUBIInd>
      <SubjectToProxyTaxInd referenceDocumentName="IRS990ScheduleC">false</SubjectToProxyTaxInd>
      <OrganizationDissolvedEtcInd referenceDocumentName="IRS990ScheduleN BinaryAttachment">false</OrganizationDissolvedEtcInd>
      <Form1120PolFiledInd>false</Form1120PolFiledInd>
      <MadeLoansToFromOfficersInd>false</MadeLoansToFromOfficersInd>
      <EngagedInExcessBenefitTransInd referenceDocumentName="IRS990ScheduleL">false</EngagedInExcessBenefitTransInd>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <StatesWhereCopyOfReturnIsFldCd>WA</StatesWhereCopyOfReturnIsFldCd>
      <BooksInCareOfDetail>
        <PersonNm>Safe Haven Accounting</PersonNm>
        <USAddress>
          <AddressLine1Txt>PO Box 163</AddressLine1Txt>
          <CityNm>North Lakewood</CityNm>
          <StateAbbreviationCd>WA</StateAbbreviationCd>
          <ZIPCd>98259</ZIPCd>
        </USAddress>
        <PhoneNum>9252383503</PhoneNum>
      </BooksInCareOfDetail>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <DonorAdvisedFndsInd>false</DonorAdvisedFndsInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <TanningServicesProvidedInd>false</TanningServicesProvidedInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TransactionWithControlEntInd>false</TransactionWithControlEntInd>
      <PoliticalCampaignActyInd referenceDocumentName="IRS990ScheduleC">false</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd referenceDocumentName="IRS990ScheduleC">false</LobbyingActivitiesInd>
      <SchoolOperatingInd referenceDocumentName="IRS990ScheduleE">false</SchoolOperatingInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>false</TrnsfrExmptNonChrtblRltdOrgInd>
      <PartVIOfCompOfHghstPdEmplTxt>NONE</PartVIOfCompOfHghstPdEmplTxt>
      <PartVIHghstPdCntrctProfSrvcTxt>NONE</PartVIHghstPdCntrctProfSrvcTxt>
      <FiledScheduleAInd>true</FiledScheduleAInd>
    </IRS990EZ>
    <IRS990ScheduleA documentId="IRS990ScheduleA" softwareId="24020810" softwareVersionNum="V1.0" documentName="IRS990ScheduleA">
      <PubliclySupportedOrg509a2Ind>X</PubliclySupportedOrg509a2Ind>
      <GiftsGrantsContrisRcvd509Grp>
        <CurrentTaxYearMinus3YearsAmt>8700</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>27629</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>45731</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>48099</CurrentTaxYearAmt>
        <TotalAmt>130159</TotalAmt>
      </GiftsGrantsContrisRcvd509Grp>
      <Total509Grp>
        <CurrentTaxYearMinus4YearsAmt>0</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>8700</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>27629</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>45731</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>48099</CurrentTaxYearAmt>
        <TotalAmt>130159</TotalAmt>
      </Total509Grp>
      <AmountsRcvdDsqlfyPersonGrp>
        <CurrentTaxYearMinus3YearsAmt>8700</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>16182</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>18340</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>29030</CurrentTaxYearAmt>
        <TotalAmt>72252</TotalAmt>
      </AmountsRcvdDsqlfyPersonGrp>
      <SubstAndDsqlfyPrsnsTotGrp>
        <CurrentTaxYearMinus4YearsAmt>0</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>8700</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>16182</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>18340</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>29030</CurrentTaxYearAmt>
        <TotalAmt>72252</TotalAmt>
      </SubstAndDsqlfyPrsnsTotGrp>
      <PublicSupportTotal509Amt>57907</PublicSupportTotal509Amt>
      <GrossInvestmentIncome509Grp>
        <CurrentTaxYearMinus3YearsAmt>0</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>0</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>7743</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>4598</CurrentTaxYearAmt>
        <TotalAmt>12341</TotalAmt>
      </GrossInvestmentIncome509Grp>
      <InvestmentIncomeAndUBTIGrp>
        <CurrentTaxYearMinus4YearsAmt>0</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>0</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>0</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>7743</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>4598</CurrentTaxYearAmt>
        <TotalAmt>12341</TotalAmt>
      </InvestmentIncomeAndUBTIGrp>
      <TotalSupportCalendarYearGrp>
        <CurrentTaxYearMinus4YearsAmt>0</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>8700</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>27629</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>53474</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>52697</CurrentTaxYearAmt>
        <TotalAmt>142500</TotalAmt>
      </TotalSupportCalendarYearGrp>
      <First5Years509Ind>X</First5Years509Ind>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="IRS990ScheduleB" softwareId="24020810" softwareVersionNum="V1.0" documentName="IRS990ScheduleB">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleO documentId="IRS990ScheduleO" softwareId="24020810" softwareVersionNum="V1.0" documentName="IRS990ScheduleO">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Advertising and Marketing - 669</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Accounting Fees - 831</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Officer life insurance - 589</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Laboratory fees - 2631</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Memberships and subscriptions - 1114</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Supplies - 155</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Taxes and Licenses - 81</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Travel - 1719</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I Line 16</FormAndLineReferenceDesc>
        <ExplanationTxt>Website hosting - 276</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I Line 20</FormAndLineReferenceDesc>
        <ExplanationTxt>Unrealized gains/losses - -16650</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part II Line 24</FormAndLineReferenceDesc>
        <ExplanationTxt>Accounts Receivable - Beginning Of Year Amount: 0 End Of Year Amount:1500</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part II Line 24</FormAndLineReferenceDesc>
        <ExplanationTxt>Prepaid insurance - Beginning Of Year Amount: 300 End Of Year Amount:395</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part II Line 24</FormAndLineReferenceDesc>
        <ExplanationTxt>Prepaid Website - Beginning Of Year Amount: 0 End Of Year Amount:126</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part II Line 24</FormAndLineReferenceDesc>
        <ExplanationTxt>Cryptocurrency Endowment - Regen Tokens - Beginning Of Year Amount: 30000 End Of Year Amount:13350</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part II Line 24</FormAndLineReferenceDesc>
        <ExplanationTxt>Opening net assets not reflected on initial return - Beginning Of Year Amount: 969 End Of Year Amount:0</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part II Line 26</FormAndLineReferenceDesc>
        <ExplanationTxt>Total payroll wages and tax to pay - Beginning Of Year Amount: 13576 End Of Year Amount:5239</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part II Line 26</FormAndLineReferenceDesc>
        <ExplanationTxt>Restricted Grant Liability - Beginning Of Year Amount: 30000 End Of Year Amount:30000</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>