2025-10-09T09:47:38-05:00 2024-12-31 333709623 COHNREZNICK ADVISORY LLC 707 WILSHIRE BLVD STE 4950 LOS ANGELES CA 90017 990 2024-01-01 831666979 BLUE FOREST FINANCE INC BLUE 2022711548 5960 S LAND PARK DR 1264 SACRAMENTO CA 95822 ZACHARY KNIGHT CEO & PRESIDENT 2022711548 2025-10-08 1 1 JOLANTA TUCK P01340068 3108439700 2025-10-07 2024 2025-03-06 01:10:19Z ZACHARY KNIGHT 5960 S LAND PARK DR 1264 SACRAMENTO CA 95822 19530205 0 X WWW.BLUEFOREST.ORG X 2018 CA BLUE FOREST IS A NON-PROFIT CONSERVATION FINANCE ORGANIZATION. WE BRING PEOPLE, FINANCE AND SCIENCE TOGETHER TO RESTORE AND PROTECT OUR FORESTS, WATERSHEDS, ECOSYSTEMS AND COMMUNITIES. 7 5 46 5 0 0 5606954 6138844 1564017 2359521 196582 433396 34120 399 7401673 8932160 850000 1300000 0 0 4133238 5028470 0 0 238007 1476875 2662435 6460113 8990905 941560 -58745 21610036 35190546 16829384 29861439 4780652 5329107 X BLUE FOREST IS A NON-PROFIT CONSERVATION FINANCE ORGANIZATION. WE BRING PEOPLE, FINANCE AND SCIENCE TOGETHER TO RESTORE AND PROTECT OUR FORESTS, WATERSHEDS, ECOSYSTEMS AND COMMUNITIES. 0 0 6494036 1300000 2359920 PROJECT DEVELOPMENT - INVOLVES DEVELOPMENT, DESIGN, AND IMPLEMENTATION OF CONSERVATION FINANCE. THIS INCLUDES THE FOREST RESILIENCE BOND (FRB), AN INNOVATIVE FINANCING MECHANISM THAT ACCESSES PRIVATE CAPITAL TO FINANCE FOREST RESTORATION PROJECTS TO PROTECT COMMUNITIES, ECOSYSTEM BENEFITS, AND RURAL LIVELHOODS; AND BLUE FOREST ASSET MANAGEMENT (BFAM), WHICH PROVIDES FLEXIBLE FINANCING TO COMPANIES LEADING FOREST RESTORATION AND WILDFIRE MITIGATION WORK ACROSS CALIFORNIA. 2024 IMPACTS INCLUDED $17.8M DEPLOYED FOR ECOSYSTEM RESILIENCE, 141 JOBS SUPPORTED, 12 ACTIVE NATIONAL FOREST ENGAGEMENTS FOR FRB PROJECT DEVELOPMENT, 10,168 ACRES PROTECTED, AND 34,977 ACRE-FEET OF WATER SUPPLY PROTECTED. 350654 COMMUNICATIONS, OUTREACH, & EDUCATION - INVOLVES ACTIVITIES TO PRODUCE AND DISSEMINATE MATERIALS AND INFORMATION ABOUT OUR INNOVATIVE FINANCE MODELS AND THE MULTIPLE BENEFITS OF ECOSYSTEM CONSERVATION AND RESTORATION GENERALLY. OUR STAKEHOLDER AND PUBLIC OUTREACH AND EDUCATION EXPANDS KNOWLEDGE OF OUR PROJECTS WHILE PROMOTING THEM AS EMERGING AND EFFECTIVE MODELS THAT ARE APPLICABLE AND REPLICABLE TO MANY LANDSCAPES AND ECOSYSTEM SITUATIONS IN NEED OF LARGE-SCALE MANAGEMENT AND RESTORATION, WHILE ALSO ADVANCING THE FIELD OF CONSERVATION FINANCE BROADLY. 2024 IMPACTS INCLUDED FEATURES IN LEADING IMPACT INVESTING PUBLICATIONS, INCLUSION IN THE REVENUES FOR NATURE DATABASE, WINNER OF THE FOREST SERVICE REGIONAL PARTNERSHIP OF THE YEAR, ACHIEVING COIN CDFI CERTIFICATION, AND BEING NAMED AS A KEELING CURVE PRIZE LAUREATE. 134951 SCIENCE & RESEARCH - BLUE FOREST COMBINES THE LATEST WESTERN SCIENCE WITH INDIGENOUS KNOWLEDGE TO BUILD MORE RESILIENT ECOSYSTEMS AND COMMUNITIES. OUR SCIENCE TEAM WORKS TO EVALUATE AND MONITOR PROJECT BENEFITS. WE HELP DEVELOP, TEST AND DEPLOY NEW TOOLS AND METHODS FOR MEASURING RESTORATION PROJECT OUTCOMES. WE PARTNER WITH ACADEMIC AND RESEARCH ORGANIZATIONS TO EVALUATE AND COMMUNICATE THE BENEFITS OF INVESTING IN ECOSYSTEM RESILIENCE, AND WE MAINTAIN A PORTFOLIO OF INDEPENDENT RESEARCH PROJECTS AIMED AT GAINING NEW INSIGHTS INTO THE BENEFITS OF WELL-MANAGED LANDSCAPES. IN 2024 BLUE FOREST TEAM MEMBERS PUBLISHED 4 RESEARCH PAPERS, COMPLETED BENEFITS ANALYSIS FOR 21 UNIQUE PROJECTS, AND PARTICIPATED IN 19 PUBLIC PRESENTATIONS AND PANELS. 6979641 1 1 0 0 0 0 0 0 0 0 0 1 1 0 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 20 0 1 46 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 5 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 CA X X ZACHARY KNIGHT 2022711548 5960 S LAND PARK DR 1264 SACRAMENTO CA 95822 ZACHARY KNIGHT CEO & PRESIDENT 50.00 X X 182374 0 48804 NICHOLAS WOBBROCK CHIEF CONSERVATION OFFICER & SECRETARY 50.00 X X 178913 0 31207 SHERI ELLIOTT DIRECTOR 1.00 X 0 0 0 RICARDO BAYON DIRECTOR 1.00 X 0 0 0 NEWSHA K AJAMI DIRECTOR 1.00 X 0 0 0 DANIELA SALTZMAN DIRECTOR 1.00 X 0 0 0 CHAD REED DIRECTOR 1.00 X 0 0 0 GORDON VERMEER CFO & TREASURER 50.00 X 182895 0 33055 PHILIP SAKSA CHIEF SCIENTIST 50.00 X 193240 0 19190 MACKENZIE CLOYES CHIEF OF STAFF 50.00 X 161734 0 17100 FOREST CRANDALL DIRECTOR OF INVESTMENTS 50.00 X 144728 0 15708 SEREN PENDLETON-KNOLL DIRECTOR OF EXTERNAL AFFAIRS 50.00 X 132754 0 27673 MICAH ELIAS DIRECTOR OF NATURAL CAPITAL 50.00 X 125534 0 15652 LUKE CARPENTER DIRECTOR OF INVESTMENTS 50.00 X 124358 0 19790 1426530 0 228179 13 0 1 0 ORRICK HERRINGTON & SUTCLIFFE LLP 405 HOWARD ST SAN FRANCISCO CA 94105 LEGAL SERVICES 305373 COHNREZNICK LLP 707 WILSHIRE BLVD SUITE 4950 LOS ANGELES CA 90017 AUDIT AND TAX SERVICES 131041 2 2564869 3573975 6138844 FEE INCOME 541690 1663029 1663029 PROJECT INCOME 541620 696492 696492 2359521 2503 2503 11028938 10598045 430893 430893 430893 399 399 399 8932160 2359920 0 433396 1300000 1300000 869677 593827 237794 38056 2568111 1751511 704352 112248 127160 87387 34173 5600 1145864 787462 307937 50465 317658 218301 85367 13990 203 203 263355 263355 36234 36234 378434 357801 18370 2263 15407 9475 5638 294 71681 52580 16437 2664 21728 15122 5719 887 316202 278333 29933 7936 354736 354736 10052 6908 2701 443 INVESTMENT LOSS ON PART 1116281 1116281 OTHER PERSONNEL EXPENSE 48173 32412 13722 2039 LICENSES & TAXES 29949 17505 11322 1122 8990905 6979641 1773257 238007 2201746 2452099 1300716 1579816 332340 291001 1084591 5764783 50128 108296 16604673 20071331 35467 4873220 375 50000 21610036 35190546 216817 396229 960000 1110000 152567 690439 15500000 27664771 16829384 29861439 X 4275652 3917885 505000 1411222 4780652 5329107 21610036 35190546 -58745 607200 0 X 0 1 X 1 0 X 1507672 1347595 4244407 5606954 6138844 18845472 1507672 1347595 4244407 5606954 6138844 18845472 5476282 13369190 533 75 1071 14896 2503 19078 664 28482 79535 34120 399 143200 19007750 5949069 0.70340 X 0.92160 0.00130 SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2020 AMOUNT: $ 664. 2021 AMOUNT: $ 28,482. 2022 AMOUNT: $ 79,535. 2023 AMOUNT: $ 34,120. 2024 AMOUNT: $ 399. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 FIXED INCOME SECURITIES: COMMON COLLECTIVE FUNDS 20071331 F 20071331 INVESTMENT IN PARTNERSHIP 4873220 F 4873220 X 9725982 607200 222856 830056 8895926 36234 36234 8932160 9177527 222856 222856 8954671 36234 36234 8990905 PART X, LINE 2: THE COMPANY QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS WELL AS SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE. ON AN ANNUAL BASIS, THE COMPANY ANALYZES THE AMOUNT OF UNRELATED BUSINESS TAXABLE INCOME FROM THEIR VARIOUS PROJECTS AND PROVIDE FOR TAXES ON SUCH INCOME, IF ANY, UNDER SECTION 511 OF THE INTERNAL REVENUE CODE AND SECTION 23731 OF THE CALIFORNIA REVENUE AND TAXATION CODE. DURING THE YEAR ENDED DECEMBER 31, 2024, THE COMPANY HAD NO SIGNIFICANT ACTIVITIES SUBJECT TO THESE TAXES. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE COMPANY AND HAS CONCLUDED THAT, AS OF DECEMBER 31, 2024, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. THE COMPANY HAS NO UNRECOGNIZED TAX BENEFITS ON DECEMBER 31, 2024. THE FEDERAL INFORMATIONAL TAX RETURNS OF THE COMPANY FOR TAX YEARS ENDED DECEMBER 31, 2022, AND SUBSEQUENT REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. THE RETURNS FOR CALIFORNIA, THE ONLY STATE TAX JURISDICTION, REMAIN SUBJECT TO EXAMINATION BY THE CALIFORNIA FRANCHISE TAX BOARD FOR TAX YEARS ENDED DECEMBER 31, 2021, AND SUBSEQUENT. THE COMPANY CONTINUALLY EVALUATES EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS. 1 NATIONAL FOREST FOUNDATION 27 FORT MISSOULA RD STE 3 MISSOULA MT 59804 521786332 501(C)(3) 1000000 0 FOREST RESTORATION SERVICES ASSOCIATED WITH YUBA II FRB PROJECT UPPER MOKELUMNE RIVER WATERSHED AUTHORITY 375 11TH STREET OAKLAND CA 94607 043594428 100000 0 FOREST RESTORATION SERVICES ASSOCIATED WITH UPPER MOKELUMNE I FRB PROJECT CHELAN COUNTY 411 WASHINGTON STREET SUITE 201 WENATCHEE WA 98801 916001297 200000 0 FOREST RESTORATION SERVICES ASSOCIATED WITH UPPER WENATCHEE I FRB PROJECT 3 0 PART I, LINE 2: USE OF GRANT FUNDS IS LIMITED TO TERMS PURSUANT TO THE SIGNED WRITTEN AGREEMENT BETWEEN THE TAXPAYER AND THE RECIPIENT ORGANIZATION. THE RECIPIENT ORGANIZATION IS TO PROVIDE QUARTERLY STATUS REPORTS DETAILING THE STATUS OF ANY ONGOING SERVICES, AS WELL AS PROVIDE ANY OTHER REPORTS AND INFORMATION REGARDING AGREED-UPON SERVICES AS MAY BE REASONABLY REQUESTED IN WRITING BY THE GRANTOR. X X X X 0 0 0 0 0 0 0 0 0 ZACHARY KNIGHT CEO & PRESIDENT 180634 0 0 0 1740 0 7990 0 40814 0 231178 0 0 0 GORDON VERMEER CFO & TREASURER 181817 0 0 0 1078 0 7703 0 25352 0 215950 0 0 0 PHILIP SAKSA CHIEF SCIENTIST 191500 0 0 0 1740 0 7730 0 11460 0 212430 0 0 0 NICHOLAS WOBBROCK CHIEF CONSERVATION OFFICER & SECRETA 177173 0 0 0 1740 0 7550 0 23657 0 210120 0 0 0 MACKENZIE CLOYES CHIEF OF STAFF 160000 0 0 0 1734 0 6469 0 10631 0 178834 0 0 0 FOREST CRANDALL DIRECTOR OF INVESTMENTS 143500 0 0 0 1228 0 5600 0 10108 0 160436 0 0 0 SEREN PENDLETON-KNOLL DIRECTOR OF EXTERNAL AFFAIRS 131020 0 0 0 1734 0 5689 0 21984 0 160427 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE FORM 990 BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD ENSURES THAT THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO ALL INTERESTED PERSONS. INTERESTED PERSONS MUST SIGN AN ANNUAL STATEMENT ATTESTING THEY HAVE RECEIVED A COPY OF THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 INDEPENDENT BOARD DIRECTORS REVIEW PEER ORGANIZATION COMPENSATION AND OTHER RELEVANT DATA, THEN RECOMMEND CEO COMPENSATION AND A COMPENSATION RANGE FOR OTHER OFFICERS AND KEY EMPLOYEES TO THE BOARD FOR ITS REVIEW AND APPROVAL ON AN ANNUAL BASIS, WITH SUCH REVIEW AND APPROVAL REFLECTED IN BOARD MEETING MINUTES. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990S ARE ALSO AVAILABLE ON THE COMPANY'S WEBSITE. 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