2025-09-03T09:15:14-05:00 2024-12-31 582676261 Rogers & Company PLLC 8300 Boone Boulevard Suite 600 Vienna VA 22182 990 2024-01-01 270566795 Verra VERR 2029260038 1802 Vernon St NW Ste 1105 Washington DC 200091217 Anil Vinayak Chief Financial Officer 2029260038 2025-09-02 1 1 Lori A Collingsworth P00639819 7038930300 2025-09-02 2024 2025-03-06 01:10:19Z Mandy Rambharos 1802 Vernon St NW Ste 1105 Washington DC 200091217 27758613 0 X https://verra.org/ X 2009 DC Verra sets the world's leading standards for climate action and sustainable development. 11 11 109 207 0 0 16137 5000 28157921 26565382 1630873 1188231 0 0 29804931 27758613 0 0 0 0 21182278 29637753 0 0 7139 17927677 17495301 39109955 47133054 -9305024 -19374441 47899270 28663979 4536813 4675963 43362457 23988016 X Verra drives transformational action on climate change and sustainable development through high-integrity standards that mobilize finance and deliver real impact. 0 0 38516514 24480700 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 2743772 1743913 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, in which case a CCB label is applied to the Verified Carbon Units (VCUs) issued to that project. These projects, include reforestation, afforestation, vegetation, forest restoration, agroforestry, and sustainable agriculture projects. 375530 238683 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. 160616 102086 160616 102086 41796432 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 0 0 0 0 0 0 0 0 0 1 X 39 0 1 109 1 0 0 0 0 0 0 0 0 0 0 0 0 X 11 11 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 Kenneth Markowitz Chair 4.00 X X 0 0 0 Jim Cannon Vice Chair 2.00 X X 0 0 0 Andre de Ruyter Director 1.00 X 0 0 0 Julie McLaughlin 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 Marc Stuart 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 Mark Kenber Director 1.00 X 0 0 0 Kelley Kizzier Director 1.00 X 0 0 0 Mandy Rambharos Director thru 8/24, CEO as of 8/24 40.00 X X 152093 0 9359 Anil Vinayak Chief Financial Officer as of 6/24 40.00 X 205704 0 22858 Judith Simon President through 11/2024 40.00 X 421247 0 62836 Farhan Ahmed Chief Prog Mgmt Officer thru 10/24 40.00 X 313800 0 47583 Justin Wheler Chief Program Management Officer 40.00 X 208522 0 16197 Toby Janson-Smith Chief Prog Dev & Innovation Officer 40.00 X 307128 0 66643 Joseph DellOrfano Chief Technology Officer as of 3/24 40.00 X 269043 0 51808 Hillary Navarro Chief Comm & Engagement Officer 40.00 X 237212 0 54678 Robin Rix Chief Legal, Risk, & Gov Officer 40.00 X 298439 0 21337 Andrew Howard Chief Strategy & Policy Officer 40.00 X 238748 0 0 Naomi Swickward Sr Director, REDD+ Prog Development 40.00 X 226368 0 6645 Jerry Seager Sr Director, Program Quality 40.00 X 225854 0 32612 Benktesh Sharma Sr Director, Technology Solutions 40.00 X 214609 0 48766 Mary Gilmore-Maurer Legal Director 40.00 X 214763 0 15645 Julianne Baroody Sr Director, Certification 40.00 X 207495 0 44554 David Antonioli Former CEO 40.00 X 148882 0 0 William Ferretti Former CFOO 40.00 X 159951 0 0 4049858 0 501521 90 1 1 0 Arnold & Porter Kaye Scholer LLP PO Box 719451 Philadelphia PA 191719451 Legal advisory services 2689569 APX Inc 2150 North First St Ste 429 San Jose CA 95131 Design & maintain in-house registry 1026202 Globalization Partners 175 Federal St 17th Floor Boston MA 02110 Professional employment services 848325 CTrees 12 S Raymond Ave Ste B Pasadena CA 91105 Program service provider 641000 LevelUp HCS LLC 400 Park Avenue 19th Floor New York NY 10022 Recruiting & staffing services 570664 31 5000 5000 Program service levy income 900099 22814138 22814138 Registry service fees 900099 2856377 2856377 Val, Ver, and annual program fees 900099 702000 702000 Methodology approval fees 900099 117500 117500 Other program revenue 900099 67867 67867 7500 7500 26565382 1188231 1188231 27758613 26565382 0 1188231 X 3314068 3047685 265650 733 19488058 17927174 1556535 4349 784117 725375 58537 205 5207677 4813253 393092 1332 843833 779790 63828 215 3239669 2149783 1089886 42900 42900 9562753 8792890 769695 168 779173 645434 133602 137 715008 496487 218521 180380 119697 60683 863138 616091 247047 472610 325089 147521 240265 159435 80830 238635 158354 80281 Subscriptions & dues 636770 515895 120875 Credit losses provision 524000 524000 47133054 41796432 5329483 7139 681293 733816 41791100 22331034 2586364 3489298 2225250 1916842 575744 382755 329538 192989 285725 0 47899270 28663979 4226287 4668463 0 7500 310526 0 4536813 4675963 X 43362457 23988016 43362457 23988016 47899270 28663979 -19374441 0 X X 0 1 X 1 0 X 1736811 1522332 492748 16137 5000 3773028 19038639 38956641 31441144 28157921 26565382 144159727 20775450 40478973 31933892 28174058 26570382 147932755 0 2178169 9841133 8605763 7142412 7325792 35093269 2178169 9841133 8605763 7142412 7325792 35093269 112839486 36037 26486 490364 1630873 1188231 3371991 36037 26486 490364 1630873 1188231 3371991 20811487 40505459 32424256 29804931 27758613 151304746 0.74580 0.74880 0.02230 0.01630 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 47133054 47133054 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 2021-2024. 575744 382755 192989 192989 X 27758613 0 27758613 0 27758613 47133054 0 47133054 0 47133054 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 9 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 121845 East Asia and the Pacific 0 5 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 674309 Europe 0 35 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 5421205 Middle East & North Africa 0 2 Program Services VCS, SDVISta, Scope 3 Standard 256243 North America 0 17 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 3633313 South America 0 21 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 3171866 South Asia 0 18 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 1542922 Sub-Saharan Africa 0 15 Program Services VCS, SDVISta, CCBS, Innovations, Plastics, Scope 3 Standard, Program Dev & Innovation 1632057 0 122 0 0 0 122 16453760 0 16453760 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 2024. 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 Judith Simon President through 11/2024 313160 0 38961 0 69126 0 31672 0 31164 0 484083 0 0 0 Toby Janson-Smith Chief Prog Dev & Innovation Officer 291623 0 13183 0 2322 0 29839 0 36804 0 373771 0 0 0 Farhan Ahmed Chief Prog Mgmt Officer thru 10/24 218986 0 10227 0 84587 0 17779 0 29804 0 361383 0 0 0 Joseph DellOrfano Chief Technology Officer as of 3/24 251801 0 15000 0 2242 0 24646 0 27162 0 320851 0 0 0 Robin Rix Chief Legal, Risk, & Gov Officer 284534 0 13370 0 535 0 14227 0 7110 0 319776 0 0 0 Hillary Navarro Chief Comm & Engagement Officer 228699 0 7703 0 810 0 23234 0 31444 0 291890 0 0 0 Benktesh Sharma Sr Director, Technology Solutions 204253 0 9674 0 682 0 20596 0 28170 0 263375 0 0 0 Jerry Seager Sr Director, Program Quality 214078 0 10683 0 1093 0 21413 0 11199 0 258466 0 0 0 Julianne Baroody Sr Director, Certification 197366 0 9674 0 455 0 20258 0 24296 0 252049 0 0 0 Andrew Howard Chief Strategy & Policy Officer 214686 0 24062 0 0 0 0 0 0 0 238748 0 0 0 Naomi Swickward Sr Director, REDD+ Prog Development 208262 0 0 0 18106 0 0 0 6645 0 233013 0 0 0 Mary Gilmore-Maurer Legal Director 146334 0 68429 0 0 0 11707 0 3938 0 230408 0 0 0 Anil Vinayak Chief Financial Officer as of 6/24 189583 0 15000 0 1121 0 17333 0 5525 0 228562 0 0 0 Justin Wheler Chief Program Management Officer 192262 0 15635 0 625 0 9613 0 6584 0 224719 0 0 0 Mandy Rambharos Director thru 8/24, CEO as of 8/24 151179 0 0 0 914 0 3030 0 6329 0 161452 0 0 0 William Ferretti Former CFOO 0 0 0 0 159951 0 0 0 0 0 159951 0 0 0 David Antonioli Former CEO 0 0 0 0 148882 0 0 0 0 0 148882 0 0 0 Part I, Line 4a David Antonioli, former Chief Executive Officer through June 2023, received severance compensation in the amount of $148,882 in calendar year 2024. William Ferretti, former Chief Financial and Operating Officer through December 2023, received severance compensation in the amount of $159,951 in calendar year 2024. Judith Simon, President through November 2024, received severance compensation in the amount of $28,793 in calendar year 2024. Farhan Ahmed, Chief Program Management Officer through October 2024, received severance compensation in the amount of $66,671 in calendar year 2024. 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 2024, Verra had approximately 207 volunteers helping to drive impact across Verra's programmatic areas. Form 990, Part III, Line 4a, VCS Program: (continued) In the Verified Carbon Standard (VCS) Program, Verra launched the following new methodologies in 2024: VCS Methodology VM0049 Carbon Capture and Storage: VM0049 is a globally applicable framework for technology-based carbon capture and storage (CCS) activities that generate carbon dioxide removals (CDRs) and emission reductions. CDRs are considered a critical element of corporate net zero climate strategies. VCS Methodology VM0050 Energy Efficiency and Fuel-Switch Measures in Cookstoves, v1.0. VM0050 is a comprehensive and robust new methodology that provides a high-integrity approach to quantifying emission reductions from energy efficiency and fuel-switch measures (i.e., involving the replacement of fossil fuels and non-renewable biomass) in cookstoves. In 2024, the VCS Program and two VCS methodologies were approved by the Integrity Council for the Voluntary Carbon Market (ICVCM) as meeting the Core Carbon Principles (CCP) criteria. The methodologies include VCS Methodology VM0048 Reducing Emissions from Deforestation and Forest Degradation, v1.0 and VCS Methodology VM0047 Afforestation, Reforestation, and Revegetation, v1.0. These approvals reinforce that the program and the approved methodologies reflect scientific rigor, transparency, and credibility, and deliver real, measurable, and verifiable emissions reductions. 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 2024, Verra launched the Nature Framework, a new methodology in the SD VISta Program that enables projects to quantify biodiversity outcomes and generate Nature Credits. The framework will incentivize widespread investment in measurable conservation and restoration activities benefiting nature and people. 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 which often represent the majority of a company's emissions abatement targets and are therefore critical to reduce. The program is well-suited to drive investment and scale up in-value-chain climate action. Program Development and Innovation: 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. - Publication of new fee schedule: Verra launched a comprehensive updated fee schedule that lays out the fee structures and details for all its standards programs. The fee changes will enable Verra to do the following: (1) maintain the operation of high-quality standards programs that are advancing critically needed climate action and sustainable development; (2) continue implementing improvements to ensure the quality and rigor of its programs; (3) further advance its digitization and digitalization efforts to streamline project review processes for its stakeholders. - Improved project review processes and client relations: Verra also took steps to strengthen its project review processes and enhance client relations by (1) publishing the average processing times for various types of project review requests to increase transparency around the project review process; (2) finalizing target service-level agreements that set clear goals and performance benchmarks for the project review processing times; and (3) introducing a new risk-based approach (RBA) to conducting project review processes to improve the efficiency of project reviews without compromising quality and integrity. - Performance Monitoring Program for Auditors: Verra also launched a Performance Monitoring Program (PMP) for its validation/verification bodies (VVBs), the third-party, independent auditors that validate the projects Verra certifies and verify the credits Verra issues. These auditors are a critical part of Verra's robust certification system. The PMP enables Verra to monitor and strengthen VVB performance across all Verra standards programs and ensure they execute their auditing services in compliance with Verra's program rules and requirements. - 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 2024, Verra utilized 207 volunteers globally to do this work. - Digitalization Initiatives: Verra significantly advanced its multiyear digitalization initiative in 2024. 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. - Initiatives included: 1) 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). 2) The Verra Project Hub also provides the ability to submit non-permanent risk reports for AFOLU (agriculture, forestry, and land use projects) as well as Geological Carbon Sequestration projects digitally and notices of validation and verification services to Verra. 3) 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. 4) We have connected our Registry Data with Climate Action Data Trust through the Project Hub to provide general transparency of our data. Users from 182 countries have accessed the Project Hub since its launch in October 2023. 5) Verra's Long-Term Monitoring System (LTMS) is monitoring 289 AFOLU projects registered under the Verified Carbon Standard (VCS) Program to track loss events and reversals. This system aims to manage the non-permanence risk of nature-based credits and ensure the transparency and environmental integrity of Verified Carbon Units. The Project Activity Data Allocation (PADA) Request tool streamlines the querying, requesting, and dissemination of activity data for REDD projects, enhancing efficiency and accuracy in interactions between Verra and its users. 6) The Digitized Exemption Request Form makes it easier for project proponents, authorized representatives, and validation/verification bodies (VVBs) submitting exemption requests for projects in the Verified Carbon Standard (VCS) Program, the Climate, Community & Biodiversity Standards (CCBS) Program, Jurisdictional and Nested REDD+ (JNR) Framework, Plastic Waste Reduction Standard Program (Plastic Program), and the Sustainable Development Verified Impact Standard (SD VISta) Program and enhances access, efficiency and transparency in our process for all the uses. 7) The Project Submission Tool is a digital platform that streamlines the creation and management of carbon project submissions to Verra, supporting various report generations and enhancing project management efficiency. This tool is used to digitalize templates for VCS, Plastic, SD VISta and CCB Standards for project description, monitoring reports, validation report and verification report along with 13 methodologies in 2024. The digitally submitted projects are prioritized by Verra reviewers. We are working with various external parties to improve monitoring and verification on the Digital Measurement, Reporting, and Verification (DMRV) platform. 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 109 U.S. employees reported on the 2024 Form W-3, 122 international employees were employed by Verra under the global EOR arrangements in 2024. All international employees required to be listed in Part VII, Section A have been included. A total of 45 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. 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 8,792,890. Management and general expenses 769,695. Fundraising expenses 168. Total expenses 9,562,753. 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.