2023-11-15T10:54:56-05:00 2022-12-31 251644159 BROWN SCHULTZ SHERIDAN & FRITZ 205 EAST MAIN STREET WESTMINSTER MD 21157 990 2022-01-01 200231609 ENVIRONMENT NEXT INC ENVI 2402470630 853 MAIN STREET EAST AURORA NY 14052 ERIC CARLSON PRESIDENT 2402470630 2023-11-08 true ERIC CARLSON XXX-XX-XXXX false WANDA K LYNN CPA P00726749 4108763990 2023-11-14 2022 2023-04-26 12:10:37Z ERIC CARLSON 853 MAIN STREET EAST AURORA NY 14052 31963258 false X ENVIRONMENTNEXT.ORG X 2003 DE REDUCING THE IMPACT OF CLIMATE CHANGE THROUGH REDUCTION OF CO2 EMISSIONS, ENVIRONMENTAL EDUCATION, RENEWABLE AND EFFICIENT ENERGY, AND FORESTRY PROJECTS FOR A CLEANER AND HEALTHIER ENVIRONMENT. 4 3 7 6 0 7432475 6986424 72593 40711 224291 5206904 979992 16597385 8709351 28831424 311491 0 0 2774129 9455866 0 230852 2461402 6825966 5547022 16281832 3162329 12549592 24217627 31227885 4083224 1786996 20134403 29440889 X THROUGH OCTOBER 2022, OUR MISSION IS TO REDUCE THE IMPACT OF CLIMATE CHANGE THROUGH THE REDUCTION OF CARBON DIOXIDE EMISSIONS, EDUCATE THE PUBLIC ABOUT THE ISSUES OF CLIMATE CHANGE, SUPPORT RENEWABLE ENERGY, ENERGY EFFICIENCY, AND FORESTRY PROJECTS, AND SEEK WAYS TO HAVE A CLEANER AND HEALTHIER ENVIRONMENT. AFTER THIS DATE, THE ORGANIZATION'S MISSION IS TO SUPPORT INDIVIDUALS, NONPROFITS AND BUSINESSES AROUND THE WORLD ON SOLUTIONS TO COMPLEX CLIMATE ISSUES. TO PROVIDE LEADERSHIP, OUTREACH AND COMMUNICATION SUPPORT, GRANTS, AND INVESTMENTS TO EMPOWER LEADERS AND THEIR IDEAS TO SOLVE OUR CLIMATE CRISIS. true true 15002498 43203 CARBONFUND.ORG FOUNDATION, INC. SUPPORTED THE REDUCTION OF CARBON OFFSETS, THE PLANTING OF TREES, IN ADDITION TO SUPPORTING NUMEROUS CARBONFREE CERTIFIED PRODUCTS, WATER RESTORATION CREDITS, AND RENEWABLE ENERGY CERTIFICATES. CARBONCO, A WHOLLY-OWNED SUBSIDIARY OF THE FOUNDATION, CONTINUED TO ADVISE AND ASSIST WITH THE IMPLEMENTATION OF FOUR REDD+ CARBON REDUCTION PROJECTS IN THE ACRE, BRAZIL, HELPING TO PRESERVE 750,000 ACRES, VERIFYING THE CARBON REDUCTIONS, ALONG WITH THE COMMUNITY AND BIODIVERSITY BENEFITS TO THE HIGHEST INTERNATIONAL STANDARDS, INCLUDING VCS AND CCBS WITH GOLD LEVEL DISTINCTION. 15002498 true true false true false false false false false false true false false false true false true false false false true false false false false false false false false true false false false false false false false false false false false false true false false false false true 7 0 true 7 true false false false false false false false false false false true false X 4 3 false false true false false false false true true false false true true true true true true true true false AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN NC NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV X X BONNIE MOSCATO OUTSIDE ACCOUNTANT 2402470630 853 MAIN STREET EAST AURORA NY 14052 ERIC CARLSON PRESIDENT 45.00 X X 7098657 0 35470 BRIAN MCFARLAND SR. VP OF PR 40.00 X 1502189 0 6400 JARETT EMERT VP OF PARTNE 40.00 X 1436931 0 25477 LINDA KELLY VP OF PARTNE 40.00 X 186667 0 16034 SUZANNE KAUFMAN CFO/FINANCE 29.00 X 160077 0 0 MARK REES DIRECTOR 2.00 X 0 0 0 W PAUL ROWLAND CHAIRMAN 4.00 X X 0 0 0 REED SPELLMAN TREASURER 2.00 X X 0 0 0 10384521 83381 5 false true false ARNOLD & PORTER KAYE SCHOLER LLP 601 MASSACHUSETTS AVE NW WASHINGTON DC 20001 LEGAL 299225 THE ENVIRONMENTAL FINANCIAL CONSULTING GROUP LLC 4915 W 31ST AVE DENVER CO 80212 CONSULTING 232500 OSTRYA CONSERVATION INC PO BOX 153 SCOTTSVILLE VA 24590 VERIFICATION 179500 KLEINJOHNSON GROUP LLC 923 15TH STREET NW SIXTH FLOOR WASHINGTON DC 20005 LOBBYING 162500 4 6986424 5176 6986424 CARBONFREE PRODUCT FEES 519100 40711 40711 40711 216721 216721 5000000 9817 4990183 4990183 4990183 19716910 3122017 16594893 16594893 MISCELLANEOUS INCOME 900099 2492 2492 2492 28831424 16638096 5206904 6687876 6202203 291404 194269 2474967 2474967 23500 23500 65089 65089 204434 193702 6439 4293 343453 343453 76138 76138 150000 150000 9335 9335 363838 98010 265828 53353 53353 5292 5292 89857 40081 25432 24344 1434 198 1236 36222 36180 42 10152 10152 SUPPORT OF CARBON OFFSET 4214162 4214162 EXCISE TAXES 1451053 1451053 LICENSES AND PERMITS 13305 5359 7946 MISCELLANEOUS EXPENSES 6437 6437 1935 1935 16281832 15002498 1048482 230852 4707853 88562 11695802 379187 481765 2380842 1411835 3129409 1062820 2940 2940 567 13574297 16237101 45472 250000 24217627 31227885 4083224 335943 1451053 4083224 1786996 X 17853501 28950304 2280902 490585 20134403 29440889 24217627 31227885 X 12549592 -3153917 -89189 X false true X false false X 2280871 3645107 3622874 7432475 6986424 23967751 2280871 3645107 3622874 7432475 6986424 23967751 1690407 22277344 154833 173756 144367 208146 216721 897823 8110 56550 64660 24930234 37866441 0.89360 0.89760 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 150000 false false 150000 false SCHEDULE C, PART II-B, LINE 1 CARBONFUND.ORG FOUNDATION, INC. WORKED WITH AN INDEPENDENT CONSULTING GROUP TO OBTAIN INSIGHT INTO LEGISLATION AND REGULATIONS REGARDING CARBON CREDITS AND ENVIRONMENTAL ISSUES. THE GROUP ALSO HAS HELPED THE ORGANIZATION COMMUNICATE ITS MESSAGE TO KEY DECISION MAKERS, IN TERMS OF PROMOTING CLIMATE CHANGE MITIGATION AND THE SPECIFIC ROLE CARBON REDUCTION CAN PLAY IN THE EFFORTS. 2940 2940 EXCISE TAX PAYABLE 1451053 1451053 28831424 28831424 28831424 19524938 3243106 3243106 16281832 16281832 SCHEDULE D, PAGE 4, PART XII, LINE 2D LOSS ON UNCOLLECTIBLE PLEDGES 89,189 UNREALIZED LOSS ON INVESTMENTS 3,153,917 SOUTH AMERICA 1 PROGRAM SERVICES CARBON CREDIT PROD. 1971451 1 1 1971451 1971451 false false false false false false SCHEDULE F, PAGE 1, PART I, LINE 3 SOUTH AMERICA 1,971,451 0 X X X X false false false false false false true true false ERIC CARLSON PRESIDENT 413507 6685150 12200 23270 7134127 BRIAN MCFARLAND SR. VP OF PROJECTS 247264 1254925 6400 1508589 JARETT EMERT VP OF PARTNERSHIPS 204182 1232749 8360 17117 1462408 LINDA KELLY VP OF PARTNERSHIPS 186667 7073 8961 202701 SUZANNE KAUFMAN CFO/FINANCE MANAGER 60077 100000 160077 SCHEDULE J, PAGE 1, PART I, LINE 6B COMPENSATION CONTINGENT UPON NET EARNINGS OF CARBONCO, LLC, THE WHOLLY- OWNED, SINGLE-MEMBER LIMITED LIABILITY COMPANY OF THE ORGANIZATION (AND DISREGARDED FOR TAX PURPOSES). THE BOARD OF CARBONCO ADOPTED SHORT-TERM AND LONG-TERM INCENTIVE PLANS FOR THE PRESIDENT, EXECUTIVE VICE PRESIDENT OF CARBON PROJECTS & ORIGINATION, AND SENIOR VICE PRESIDENT OF CLIMATE STRATEGY & PARTNERSHIPS/CONSERVATION INVESTMENTS. AN INDEPENDENT COMPENSATION CONSULTANT, KORN FERRY, WAS ENGAGED TO PERFORM A COMPARABILITY STUDY AND COMPENSATION ANALYSIS AND DEVELOP AND RECOMMEND THESE PLANS FOR THE BOARD'S REVIEW AND APPROVAL. THE PLANS WERE DEVELOPED AND APPROVED BY THE BOARD TO ALIGN THE INTERESTS OF EMPLOYEES WITH CARBONCO'S BUSINESS PLAN TO SUPPORT THE TAX-EXEMPT PURPOSES OF THE ORGANIZATION, FOCUS ON THE LONG- TERM GROWTH AND PERFORMANCE OF CARBONCO'S BUSINESS, AND RETAIN KEY EMPLOYEES. IN APPROVING THE PLANS, CARBONCO FOLLOWED THE REBUTTABLE PRESUMPTION PROCEDURE DESCRIBED IN REGULATIONS SECTION 53.4958-6(C). SCHEDULE J, PAGE 1, PART I, LINE 7 ALL EMPLOYEES ARE ELIGIBLE TO RECEIVE BONUSES ANNUALLY. THESE BONUSES ARE DETERMINED BY THE PRESIDENT, WHILE THE PRESIDENT'S BONUS IS DETERMINED BY THE BOARD. SCHEDULE J, PART III THE FOLLOWING FIGURES REPRESENT AMOUNTS REPORTED ON SCHEDULE J WHICH WERE REIMBURSED BY CARBONCO, LLC, A DISREGARDED ENTITY OF CARBONFUND.ORG FOUNDATION, FOR RELATED WORK PERFORMED: ERIC CARLSON: BASE - 157,435; BONUS - 6,642,950 BRIAN MCFARLAND: BASE - 129,257; BONUS - 1,254,925 JARETT EMERT: BASE - 48,691; BONUS - 1,217,979 SUZANNE KAUFMAN: BASE - 4,619; BONUS - 100,000 THE ORGANIZATION ENGAGED THE LAW FIRM OF ARNOLD & PORTER KAYE SCHOLER LLP TO PROVIDE A WRITTEN LEGAL OPINION ON WHETHER THE COMPENSATION PAID, BASED ON THE COMPARABILITY DATA AND ANALYSIS PROVIDED BY THE INDEPENDENT COMPENSATION CONSULTANT, KORN FERRY, MEETS THE REBUTTABLE PRESUMPTION PROCEDURE DESCRIBED IN REGULATIONS SECTION 53.4958-6(C) AND WHETHER SUCH COMPENSATION IS REASONABLE AND WILL NOT RESULT IN AN EXCESS BENEFIT TRANSACTION SUBJECT TO TAX UNDER SECTION 4958. THE LAW FIRM'S OPINION CONCLUDED THAT, BASED ON THE FACTS PRESENTED AND THE COMPARABILITY DATA AND ANALYSIS PROVIDED BY KORN FERRY, IN THEIR OPINION, IT IS MORE LIKELY THAN NOT THAT THE COMPENSATION PAID IS REASONABLE AND WILL NOT RESULT IN AN EXCESS BENEFIT TRANSACTION SUBJECT TO TAX UNDER SECTION 4958. FORM 990 - ORGANIZATION'S MISSION THROUGH OCTOBER 2022, OUR MISSION IS TO REDUCE THE IMPACT OF CLIMATE CHANGE THROUGH THE REDUCTION OF CARBON DIOXIDE EMISSIONS, EDUCATE THE PUBLIC ABOUT THE ISSUES OF CLIMATE CHANGE, SUPPORT RENEWABLE ENERGY, ENERGY EFFICIENCY, AND FORESTRY PROJECTS, AND SEEK WAYS TO HAVE A CLEANER AND HEALTHIER ENVIRONMENT. AFTER THIS DATE, THE ORGANIZATION'S MISSION IS TO SUPPORT INDIVIDUALS, NONPROFITS AND BUSINESSES AROUND THE WORLD ON SOLUTIONS TO COMPLEX CLIMATE ISSUES. TO PROVIDE LEADERSHIP, OUTREACH AND COMMUNICATION SUPPORT, GRANTS, AND INVESTMENTS TO EMPOWER LEADERS AND THEIR IDEAS TO SOLVE OUR CLIMATE CRISIS. FORM 990, PAGE 2, PART III, LINE 2 AFTER THE SALE OF THE INTELLECTUAL PROPERTY RELATED TO CARBONFUND.ORG FOUNDATION, INC., THE ORGANIZATION CHANGED ITS NAME TO ENVIRONMENT NEXT, INC. AND SHIFTED ITS FOCUS TO INSTEAD PROVIDING GRANT AND INVESTMENT FUNDING TO ASSIST IN FINDING SOLUTIONS TO COMPLEX CLIMATE ISSUES. FORM 990, PAGE 2, PART III, LINE 3 DURING 2022 THE ORGANIZATION SOLD SUBSTANTIALLY ALL OF ITS INTELLECTUAL PROPERTY INCLUDING TRADEMARKS, PROPRIETARY SOFTWARE, DOMAIN NAME, CUSTOMER LISTS AND SOCIAL MEDIA ACCOUNTS RELATED TO CARBONFUND.ORG FOUNDATION, INC. THE ORGANIZATION ALSO SOLD ALL OF ITS PURCHASED CARBON OFFSET INVENTORY ON HAND. THE ORGANIZATION NO LONGER RETIRES CARBON OFFSETS ON BEHALF OF DONORS. ANY OUTSTANDING CARBON OFFSET RETIREMENTS REQUIRED BY DONORS FROM 2022 WERE SATISFIED DURING 2023. FORM 990, PAGE 6, PART VI, LINE 4 THE ORGANIZATION CHANGED ITS NAME FROM CARBONFUND.ORG FOUNDATION, INC. TO ENVIRONMENT NEXT, INC. FORM 990, PAGE 6, PART VI, LINE 11B THE DRAFT 990 IS REVIEWED IN DETAIL BY THE TREASURER, PRESIDENT, AND THE BOARD OF DIRECTORS BEFORE FILING. FORM 990, PAGE 6, PART VI, LINE 12C THE ORGANIZATION ADDRESSES CONFLICTS OF INTEREST ON A REGULAR BASIS FOR BOTH THE GOVERNING BODY AS WELL AS EMPLOYEES. THIS IS TYPICALLY DONE DURING SENIOR MANAGEMENT AND BOARD MEETINGS, AND IN ACCORDANCE WITH THE ORGANIZATION'S WRITTEN CONFLICT OF INTEREST POLICY AND PROCEDURES. BOARD MEMBERS ARE ASKED TO EXCUSE THEMSELVES FROM A DISCUSSION OR VOTE IF THERE IS A CONFLICT OF INTEREST. ALL NEW EMPLOYEES ARE REQUIRED TO READ THE EMPLOYEE HANDBOOK AND ACKNOWLEDGE THE RECEIPT OF IT BY SIGNING IT. THE HANDBOOK CONTAINS THE CONFLICT OF INTEREST POLICY. THE BOARD OF DIRECTORS AND EMPLOYEES ARE REQUIRED TO SIGN THE CONFLICT OF INTEREST POLICY EACH YEAR. FORM 990, PAGE 6, PART VI, LINE 15A THE SALARY OF THE PRESIDENT OF THE ORGANIZATION IS DETERMINED USING AN INDEPENDENT COMPENSATION CONSULTANT, KORN FERRY, WHO DETERMINES A SALARY RANGE BASED ON LIKE WORK PERFORMED AT LIKE COMPANIES (FOR PROFIT AND NONPROFIT), AND IN LIKE CIRCUMSTANCES, PER IRS GUIDELINES. THE BOARD IS RESPONSIBLE FOR SETTING THE SALARY WITHIN THIS RANGE. FORM 990, PAGE 6, PART VI, LINE 15B THE SALARY OF THE OFFICERS AND TOP MANAGEMENT OFFICIALS OF THE ORGANIZATION IS DETERMINED USING AN INDEPENDENT COMPENSATION CONSULTANT, KORN FERRY, WHO DETERMINES A SALARY RANGE BASED ON LIKE WORK PERFORMED AT LIKE COMPANIES (FOR PROFIT AND NONPROFIT), AND IN LIKE CIRCUMSTANCES, PER IRS GUIDELINES. THE PRESIDENT IS RESPONSIBLE FOR SETTING EACH OF THE APPROPRIATE SALARIES WITHIN THIS RANGE. FORM 990, PAGE 6, PART VI, LINE 17 MASSACHUSETTS, MARYLAND, MAINE, MICHIGAN, MINNESOTA, NORTH CAROLINA, NEW HAMPSHIRE, NEW JERSEY, NEW MEXICO, NEW YORK, OHIO, OKLAHOMA, OREGON, PENNSYLVANIA, RHODE ISLAND, SOUTH CAROLINA, TENNESSEE, UTAH, VIRGINIA, WASHINGTON, WISCONSIN, WEST VIRGINIA FORM 990, PAGE 6, PART VI, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. THE ORGANIZATION'S FINANCIAL STATEMENTS ARE AVAILABLE ON ITS WEBSITE AS WELL AS UPON REQUEST. FORM 990, PART XI, LINE 9 LOSS ON UNCOLLECTIBLE PLEDGES -89,189 CARBONCO LLC 853 MAIN STREET EAST AURORA NY 14052 275046022 CONSULTING DE 16635830 5869968 ENVIR NEXT ENVIRONMENT NEXT INC