2026-06-18T18:06:18-05:00 2025-12-31 582676261 Rogers & Company PLLC 1775 Tysons Boulevard Suite 1200 McLean VA 22102 990 2025-01-01 270566795 Verra VERR 2029260038 1802 Vernon St NW Ste 1105 Washington DC 200091217 Mandy Rambharos CEO 2029260038 2026-06-18 1 Lori A Collingsworth P00639819 7038930300 2026-06-18 2025 2025-03-06 01:10:19Z Mandy Rambharos 1802 Vernon St NW Ste 1105 Washington DC 200091217 30616660 0 X https://verra.org/ X 2009 DC Verra sets the world's leading standards for climate action and sustainable development. 10 10 68 193 0 0 5000 924209 26565382 29053293 1188231 639158 0 0 27758613 30616660 0 0 0 0 29637753 22005085 0 0 45124 17495301 9568851 47133054 31573936 -19374441 -957276 28663979 26804981 4675963 3774241 23988016 23030740 X Verra drives transformational action on climate change and sustainable development through high-integrity standards that mobilize finance and deliver real impact. 0 0 27934122 27551050 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 Verified Carbon Units which they can use to finance their activities. Under the VCS Program, Verra also operates the Jurisdictional and Nested REDD+ Framework that enables jurisdictional REDD+ programs and nested projects to account for and verify their forest-related emission reduction activities.Continued in Schedule O 1217752 1198385 CCBS Program: The Climate Community and Biodiversity Standards (CCBS) Program certifies projects that simultaneously address climate change, support local communities and smallholders, and conserve biodiversity. Many land-based projects register in both the CCBS Program and the VCS Program. These projects include reforestation, afforestation, vegetation, forest restoration, agroforestry, and sustainable agriculture projects. 189366 186354 Plastics Waste Reduction Standard Program: The Plastic Waste Reduction Standard Program (Plastic Program) enables the consistent accounting, independent auditing and crediting of new or scaled-up waste collection and recycling projects. Projects are issued Plastic Credits which they can use to sustain and/or scale up their operations. The program seeks to catalyze socially-responsible waste recovery and recycling efforts around the world. 119403 117504 119403 117504 29460643 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 X 27 0 1 68 1 0 0 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Anil Vinayak CFO 2029260038 1802 Vernon St NW Ste 1105 Washington DC 200091217 Marc Stuart Chair 4.00 X X 0 0 0 Andre de Ruyter Vice Chair 2.00 X X 0 0 0 Julie McLaughlin Vice Chair 2.00 X X 0 0 0 Kenneth Markowitz Director 1.00 X 0 0 0 Jim Cannon Director 1.00 X 0 0 0 Dirk Forrister Director 1.00 X 0 0 0 Janice Kotut-Sang Director 1.00 X 0 0 0 Jennifer McFarlane Director 1.00 X 0 0 0 Anshari Rahman Director 1.00 X 0 0 0 Juan Felipe Rengifo Borreno Director 1.00 X 0 0 0 Tsunehiko Yanagihara Director 1.00 X 0 0 0 Mandy Rambharos Chief Executive Officer 40.00 X 398878 0 10364 Anil Vinayak Chief Financial Officer 40.00 X 335139 0 33870 Joseph DellOrfano Chief Technology Officer 40.00 X 328846 0 39893 Hillary Navarro Chief Comm & Engagement Officer 40.00 X 252149 0 30827 Justin Wheler Chief Program Management Officer 40.00 X 210012 0 18961 Candace Vinke Chief Prog Dev & Innovation Officer 40.00 X 182789 0 16987 Andrew Howard Chief Strategy & Policy Officer 40.00 X 236010 0 0 Jerry Seager Sr Director, Program Quality 40.00 X 214948 0 22547 Benktesh Sharma Sr Director, Technology Solutions 40.00 X 211079 0 23576 Julianne Baroody Sr Director, Certification 40.00 X 198337 0 24926 Barbara Davis Director of Technology Management 40.00 X 189590 0 24273 Sinclair Vincent Sr Director, Program Development 40.00 X 184212 0 19634 2941989 0 265858 66 0 1 0 APX Inc 2150 North First St Suite 500C San Jose CA 95131 Design & maintain in-house registry 900860 Space Intelligence Ltd 120 George Street Edinburgh UK EH2 4LH Program service provider 608000 Globalization Partners 175 Federal St 17th Floor Boston MA 02110 Professional employment services 571550 Arnold & Porter Kaye Scholer LLP PO Box 719451 Philadelphia PA 19171 Legal advisory services 560546 CTrees 12 S Raymond Ave Ste B Pasadena CA 91105 Program service provider 482000 20 924209 50200 924209 Program service levy income 900099 25573411 25573411 Registry service fees 900099 2598450 2598450 Grants and contracts 900099 536200 536200 Other program income 900099 345232 345232 29053293 639158 639158 30616660 29053293 0 639158 X 2152310 2014813 132610 4887 14809162 13847947 925351 35864 607915 578452 29463 3840033 3653925 186108 595665 566796 28869 760374 563561 196813 22560 22560 5626212 5568195 55887 2130 224596 209571 14711 314 400671 371627 28472 572 742238 562342 179896 62328 46195 16133 394726 355862 38864 238371 197650 40721 116609 86426 30183 291551 216087 75464 Subscriptions & dues 657937 590516 66064 1357 Credit losses provision 30678 30678 0 0 31573936 29460643 2068169 45124 733816 2107558 22331034 20622846 3489298 2357177 1916842 1633164 583601 499365 192989 84236 28663979 26804981 4668463 3774241 7500 0 4675963 3774241 X 23988016 22743645 0 287095 23988016 23030740 28663979 26804981 -957276 0 X X 0 1 X 1 0 X 1522332 492748 16137 5000 924209 2960426 38956641 31441144 28157921 26565382 29053293 154174381 40478973 31933892 28174058 26570382 29977502 157134807 85581 85581 9841133 8605763 7142412 7325792 5141677 38056777 9841133 8605763 7142412 7325792 5227258 38142358 118992449 26486 490364 1630873 1188231 639158 3975112 26486 490364 1630873 1188231 639158 3975112 40505459 32424256 29804931 27758613 30616660 161109919 0.73860 0.74580 0.02470 0.02230 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 31573936 31573936 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 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 2021-2025. 583601 499365 84236 84236 X 30829084 212424 212424 30616660 0 30616660 31786360 212424 212424 31573936 0 31573936 Part X, Line 2: Management has evaluated Verra's tax positions and concluded that the financial statements do not include any uncertain tax positions. Central America and the Carribean 0 5 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 677791 East Asia and the Pacific 0 4 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 580301 Europe 0 25 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 3620126 Middle East & North Africa 0 1 Program Services VCS, SDVISta, Scope 3 Standard 212119 North America 0 16 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 2304691 South America 0 15 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 2721298 South Asia 0 13 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 1285409 Sub-Saharan Africa 0 10 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 1196648 0 89 0 0 0 89 12598383 0 12598383 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. No foreign grants or subgrants were made in 2025. Part I, line 3: Foreign expenditures are directly tracked and accounted for on the accrual method of accounting. X X 0 0 0 0 0 0 0 0 0 Mandy Rambharos Chief Executive Officer 397636 0 0 0 1242 0 8000 0 2364 0 409242 0 0 0 Anil Vinayak Chief Financial Officer 322817 0 10000 0 2322 0 31687 0 2183 0 369009 0 0 0 Joseph DellOrfano Chief Technology Officer 316524 0 10000 0 2322 0 31417 0 8476 0 368739 0 0 0 Hillary Navarro Chief Comm & Engagement Officer 251339 0 0 0 810 0 25651 0 5176 0 282976 0 0 0 Jerry Seager Sr Director, Program Quality 212998 0 0 0 1950 0 21413 0 1134 0 237495 0 0 0 Andrew Howard Chief Strategy & Policy Officer 236010 0 0 0 0 0 0 0 0 0 236010 0 0 0 Benktesh Sharma Sr Director, Technology Solutions 210404 0 0 0 675 0 21271 0 2305 0 234655 0 0 0 Justin Wheler Chief Program Management Officer 210012 0 0 0 0 0 11113 0 7848 0 228973 0 0 0 Julianne Baroody Sr Director, Certification 197911 0 0 0 426 0 20258 0 4668 0 223263 0 0 0 Barbara Davis Director of Technology Management 184561 0 0 0 5029 0 18985 0 5288 0 213863 0 0 0 Sinclair Vincent Sr Director, Program Development 183866 0 0 0 346 0 18500 0 1134 0 203846 0 0 0 Candace Vinke Chief Prog Dev & Innovation Officer 182789 0 0 0 0 0 9139 0 7848 0 199776 0 0 0 X 1 50200 FMV 0 1 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, governnmental and multilateral organizations and Verra's board of directors. In 2025, Verra had approximately 193 volunteers helping to drive impact across Verra's programmatic areas. Form 990, Part III, Line 4a, VCS Program: (continued) VCS Program Version 5: Verra released version 5 of the VCS Program in 2025. This updated version introduces the program's most comprehensive social and environmental safeguards and places communities at the center of climate action. It also ensures that the program enables carbon markets to maximize their intended climate benefits. Version 5 was built through extensive stakeholder engagement, including three public consultations and dialogues with leading experts and professionals. The development of this version focused on the following three core objectives: - Increasing program integrity - Enhancing program accessibility and usability - Refining the program scope for maximum impact Some of the larger changes include the introduction of market-leading initiatives, such as a pilot for innovative approaches to managing non-permanence risk and requirements that advance financial transparency and fair benefit sharing. In 2025, Verra launched the following new methodologies in the Verified Carbon Standard (VCS) Program: VCS Methodology VM0051 Improved Management in Rice Production Systems incentivizes the adoption of innovative management practices in rice production systems and will enable buyers to support the scaling of improved rice management technologies and food security while helping them meet their climate targets. VCS Methodology VM0052 Accelerated Retirement of Coal-Fired Power Plants Using a Just Transition quantifies the climate benefits of early coal plant retirement. This methodology is built around the principles of a just transition, supporting workers and communities affected by early coal plant closures by putting clear protections in place: from local job creation to energy access and essential social safeguards. The Integrity Council for the Voluntary Carbon Market (ICVCM) serves as a quasi-regulatory body for the market and has developed the Core Carbon Principles (CCPs), the industry benchmark for high-quality carbon credits. After the ICVCM approved Verra's VCS Program and three methodologies as meeting the CCPs in 2024, it announced in 2025 that the following five VCS methodologies also meet the CCPs: VM0050 Energy Efficiency and Fuel-Switch Measures in Cookstoves, v1.0 VM0047 Afforestation, Reforestation, and Revegetation, v1.1 VM0044 Biochar Utilization in Soil and Non-Soil Applications, v1.2 VM0045 Improved Forest Management Using Dynamic Matched Baselines from National Forest Inventories, v1.2 VM0042 Improved Agricultural Land Management, v2.2 CORSIA: In 2025, the VCS Program was approved for the second phase, first compliance period (2027-2029) of CORSIA. This represents an extension of previous approvals. Article 6: Together with Singapore's National Climate Change Secretariat and Gold Standard, Verra published the final version of the Article 6.2 Crediting Protocol to help operationalize carbon markets under the Paris Agreement. The protocol will enable governments to use carbon credits issued to projects registered with independent crediting standards to meet their Nationally Determined Contributions (NDCs) and sustainable development goals. Form 990, Part III, Line 4d, Other Program Services: SD VISta 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 help advance the United Nations' Sustainable Development Goals (SDGs). In 2025, we focused our efforts in the SD VISta Program around operationalizing version 1.0 of the Nature Framework. Early in the year, we welcomed applications from validation/verification bodies (VVBs) to audit Nature Framework projects. We also implemented a market-leading digital-first approach to project registration when we officially opened the formal registration process to our Nature Framework pilot projects. We closed out the year with the exciting news that the Nature Framework certification process will open to all projects on January 1, 2026. Scope 3 Standard Program: In 2024, Verra advanced work to develop a Scope 3 Standard Program which will help companies address their Scope 3 emissions. Scope 3 emissions often are most of a company's emissions and are therefore critical to reduce. The program is well-suited to drive investment and scale up in-value-chain climate action. In 2025, we took critical steps toward finalizing the Scope 3 Standard (S3S Program). We ran a public consultation on preliminary program documents to gather feedback on the clarity, comprehensiveness, and feasibility of essential program rules, concepts, and associated guidance. We also advanced the development of the program with a set of pilots to inform the refinement of program rules and the adaptation of select VCS methodologies for use at the initial launch of the S3S Program. Additionally, we successfully introduced the S3S Program sponsorship initiative and secured our first sponsorship from Bayer. Program Development and Innovation (across all programs): Verra continuously improves its organizational infrastructure and systems that underpin the operation of all its programs. This enables Verra to meet the needs and scale up the opportunities of the markets in which they operate. -Improve project review processes and client relations: Verra also took steps to further strengthen its project review processes and enhance client relations by (1) introducing updated service-level agreements (SLAs) for project review requests; the revised SLAs differentiate between request type, program(s) used, and a newly introduced complexity level factor of a given project review request, providing proponents with more specific and nuanced information about when they can expect completion of their requests; and (2) beginning to test a new prioritization process for verification approval requests in December; under this pilot, project proponents may request placement in a priority queue so that the review of their request can begin sooner. -Performance Monitoring Program for Auditors: Verra also continued to implement a Performance Monitoring Program for its validation/verification bodies (VVBs), which consists of oversight activities that enable Verra to monitor the performance of VVBs and take action based on those observations; by developing VVB performance scorecards, which are summary reports of a VVB's performance, we were able to increase the integrity of our project review process and reduce review workload in our system. -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. In 2025, Verra utilized 193 volunteers globally to do this work. -Digitalization Initiatives: Verra continued to advance its multiyear digitalization initiative in 2025. Verra's digital platforms and tools make our processes smoother, more efficient, and more accessible for users worldwide, providing enhanced support for climate and sustainability projects. Instructions and demo videos for various tools have been created and published for wider distribution. Specific initiatives to further expand Verra's digital tools included the following: 1) We announced a new, long-term digital transformation collaboration with the Hedera Foundation. Through this industry-first integration between Hedera Guardian and the Verra Project Hub, we are accelerating the development of next-generation digital tools to enhance the transparency, auditability, and integrity of methodologies and monitoring systems in the carbon markets. A five-year investment from Hedera will further accelerate the digitalization of additional methodologies and expand the capabilities of the Verra Project Hub. 2) By the end of 2025, our Digital Project Submission Tool supported 23 methodologies across multiple programs, with the digitalization of many others underway. 3) We announced a partnership with S&P Global Energy (formerly Commodity Insights) to develop a next-generation Verra Registry powered by S&P Global's Environmental Registry software. By moving toward a more scalable, interoperable, and digitally integrated infrastructure, this collaboration aims to strengthen the integrity, accessibility, and performance of the carbon markets. Integration between the registry and the Verra Project Hub will create a more connected digital ecosystem that supports efficient credit issuance, tracking, and retirement while enabling future innovation across voluntary and compliance carbon markets. 4) We are actively partnering to enable eight digital monitoring, reporting, and verification (DMRV) pilots as a critical capability for supporting high-frequency issuances and an end-to-end digital workflow. Initial credits were generated by the Foumbouni-Mitsamiouli solar farm project (Verra Project 3788) in February 2026. 5) We digitalized all project review reports (PRRs). PRRs are the main way through which Verra communicates findings resulting from project reviews with validation/verification bodies (VVBs); all PRRs are now being processed digitally through the Verra Project Hub, marking a major step toward the complete digitalization of project reviews. 6) To enable more efficient, optimized internal review processes, we have also developed a digitized project review tool used by the Verra Program Management team which was piloted by year-end with a full roll-out expected by mid-year 2026. 7) We also released a number of other digital features within the Verra Project Hub, such as the Geological Carbon Storage (GCS) Non-Permanence Risk Tool, multiple deeds of representation for use in the VCS Program, and forms for VCS requantification notifications, exemption requests, and Core Carbon Principles label requests. Throughout the year, we encouraged the use of digital versions of documents where possible, as digital submissions facilitate transparency and enable an efficient review process. 8) In support of strong security and trust standards, we completed the AICPA examination and achieved SOC 2 Type II compliance as of October 1, 2025. 9) As part of our migration to a new managed services provider offering 24/7 global support, we implemented a third-party Security Operations Center (SOC). This enhancement strengthens our security posture by providing continuous monitoring, threat detection, and incident response capabilities across our IT environment. 10) To unlock value from legacy PDF documents, we obtained an AWS grant to initiate digitization efforts, transforming unstructured content into actionable data and insights that support risk modeling for future project reviews. Form 990, Part V, Line 2a and Part VII Section A, Line 2: Verra contracts with Globalization Partners and Atlas Technology Solutions Inc as their employers of record (EORs) for international employees. These EORs serve as the employers of record for tax, benefits, and insurance purposes for Verra's international employees. In addition to the 68 U.S. employees reported on the 2025 Form W-3, 92 international employees were employed by Verra under the global EOR arrangements in 2025. All international employees required to be listed in Part VII, Section A have been included. A total of 35 international employees are included in the Part VII, Section A, Line 2 count. Form 990, Part VI, Section B, line 11b Form 990 is prepared by an outside CPA firm, which is reviewed in detail by CEO and CFO. 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, Contractors, Consultants and other professional fees: Program service expenses 5,568,195. Management and general expenses 55,887. Fundraising expenses 2,130. Total expenses 5,626,212. 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.