COOL EFFECT INC

Greenbrae, CA   |  www.cooleffect.org

Mission

Our mission is to reduce carbon emissions.

Ruling year info

2016

CEO

Marisa de Belloy

Main address

100 Drakes Landing Suite 260

Greenbrae, CA 94904 USA

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EIN

47-5068496

Subject area info

Environmental education

Natural resources

Environment

Population served info

Children and youth

NTEE code info

Environmental Education and Outdoor Survival Programs (C60)

Natural Resource Conservation and Protection (C30)

Fund Raising and/or Fund Distribution (C12)

IRS subsection

501(c)(3) Public Charity

IRS filing requirement

This organization is required to file an IRS Form 990 or 990-EZ.

Tax forms

Show Forms 990

Programs and results

What we aim to solve

SOURCE: Self-reported by organization

We’ve seen a radical spike in our carbon emissions since the Industrial Revolution, with today’s numbers at an all-time high. Carbon dioxide is warming the planet to unsustainable levels and temperatures will only keep rising unless we do something about it.

Our programs

SOURCE: Self-reported by organization

What are the organization's current programs, how do they measure success, and who do the programs serve?

Coollection

We crowdsource funding to support programs across the globe to reduce global warming. The Coollection is made up of 13 carbon reducing projects. When a donation comes in, over 93% of the money is sent directly to these projects which are thoroughly vetted by our team at Cool Effect.

Population(s) Served

Combining science, expertise, and transparency, we are creating a community built around one simple vision: give people the power and confidence to band together and reduce the carbon pollution that causes climate change.

Population(s) Served

Where we work

Goals & Strategy

SOURCE: Self-reported by organization

Learn about the organization's key goals, strategies, capabilities, and progress.

Charting impact

Four powerful questions that require reflection about what really matters - results.

Cool Effect's mission is to reduce global greenhouse gas emissions, in particular carbon dioxide.

Cool Effect identifies and verifies projects around the globe that reduce carbon emissions. It then provides a platform for approved projects to receive donations via our website. Over 90% of a donation goes directly to our client's project of choice. Our projects are 100% additional—which means that the reduction in carbon emissions would not have happened under any other circumstances except for a donation.

Every international carbon standard requires a project to provide and prove measurements based on peer-approved scientific methodologies. This documentation is reviewed by two independent Technical Advisory Committees. Cool Effect verifies, once more, the work of these Committees as well as validates the financial durability of the project. This process guarantees projects that are scientifically and financially strong and ethically sound.

Cool Effect has established a proven framework for finding and approving projects that measurably reduce carbon emissions and require additional support. Every project on Cool Effect’s platform is triple-verified, starting with a review and verification from one of the world’s major carbon standards—the Gold Standard, the Verified Carbon Standard, the Climate Action Reserve, the American Carbon Registry, or the United Nations’ Clean Development Mechanism. Once that’s complete, Global Offset Research, an independent subsidiary, verifies the project against a second set of international standards, such as those required by the United Nations Framework Convention on Climate Change.

From there, we review the project internally with a long checklist that includes questions such as:

- Has the project been issued credits by a major carbon standard?
- Is this project additional?
- Is the science of the project verifiable?
- Are the project’s financials in order?
- Is the project being run by competent, experienced management?
- Have we visited the project site (when possible)?

Once we have satisfactory answers to all of our questions and if all these criteria are met, the project can be considered officially verified and added to the Cool Effect platform.

In 2019, Cool Effect has helped secure support for the following initiatives:

● Preserving old growth spruce forest on Afognak Island in Alaska. Over the next 30 years this forest will sequester 1.5 million tonnes of CO2.
● Supporting the International Small Group and Tree Planting Program (TIST). Since 1999, TIST has helped plant over 18 million trees in Tanzania, India, Kenya, and Uganda.
● Protecting 14,546 acres of native grasslands across the Great Plains, which sequester close to 3 million tonnes of CO2.
● Building 9,276 clean cookstoves in Honduras this year, reducing 27,828 metric tons of CO2.
● Installing efficient cookstoves at local schools and orphanages in Malawi.
● Educating farmers in the Makira rainforest about sustainable techniques to reduce deforestation.
● Saving trees in Uganda by constructing cookstoves that reduce wood consumption. Carbon emissions have been reduced by 3.5 million tonnes.
● Installing biogas digesters in Vietnam so families no longer rely on coal and fertilizer.
● Planting mangrove trees in Myanmar to stabilize the coastline, reduce erosion, protect from storms, and provide a home for fish, birds, and plants.

Financials

COOL EFFECT INC
Fiscal year: Jul 01 - Jun 30
Financial documents
2018 Cool Effect audited financials 6.30.16.pdf 2018 6.30.18 Audited Financials.pdf
done  Yes, financials were audited by an independent accountant. info

Revenue vs. expenses:  breakdown

SOURCE: IRS Form 990 info
NET GAIN/LOSS:    in 
Note: When component data are not available, the graph displays the total Revenue and/or Expense values.

Liquidity in 2019 info

SOURCE: IRS Form 990

3.97

Average of 4.30 over 4 years

Months of cash in 2019 info

SOURCE: IRS Form 990

2.2

Average of 0.7 over 4 years

Fringe rate in 2019 info

SOURCE: IRS Form 990

4%

Average of 6% over 4 years

Funding sources info

Source: IRS Form 990

Assets & liabilities info

Source: IRS Form 990

Financial data

Source: IRS Form 990 info

COOL EFFECT INC

Revenue & expenses

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990

Fiscal year ending: cloud_download Download Data

COOL EFFECT INC

Balance sheet

Fiscal Year: Jul 01 - Jun 30

SOURCE: IRS Form 990

The balance sheet gives a snapshot of the financial health of an organization at a particular point in time. An organization's total assets should generally exceed its total liabilities, or it cannot survive long, but the types of assets and liabilities must also be considered. For instance, an organization's current assets (cash, receivables, securities, etc.) should be sufficient to cover its current liabilities (payables, deferred revenue, current year loan, and note payments). Otherwise, the organization may face solvency problems. On the other hand, an organization whose cash and equivalents greatly exceed its current liabilities might not be putting its money to best use.

Fiscal year ending: cloud_download Download Data

Operations

The people, governance practices, and partners that make the organization tick.

Documents
Form 1023/1024 is not available for this organization

CEO

Marisa de Belloy

Marisa de Belloy's expertise spans a multitude of fields ranging from nonprofit management, investment banking, strategy, consulting, and corporate development to international entrepreneurial ventures. Having spent 13 years teaching and working in Europe, Marisa returned to the Bay Area in 2014 to serve as COO at Made in a Free World, an anti-slavery nonprofit, where she was responsible for accelerating the organization's growth.

Number of employees

Source: IRS Form 990

COOL EFFECT INC

Officers, directors, trustees, and key employees

SOURCE: IRS Form 990

Compensation
Other
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Compensation data
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COOL EFFECT INC

Highest paid employees

SOURCE: IRS Form 990

Compensation
Other
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Compensation data
Download up to 5 most recent years of highest paid employee data for this organization

This organization has no recorded board members.

Board leadership practices

SOURCE: Self-reported by organization

GuideStar worked with BoardSource, the national leader in nonprofit board leadership and governance, to create this section.

  • Board orientation and education
    Does the board conduct a formal orientation for new board members and require all board members to sign a written agreement regarding their roles, responsibilities, and expectations? No
  • CEO oversight
    Has the board conducted a formal, written assessment of the chief executive within the past year ? No
  • Ethics and transparency
    Have the board and senior staff reviewed the conflict-of-interest policy and completed and signed disclosure statements in the past year? No
  • Board composition
    Does the board ensure an inclusive board member recruitment process that results in diversity of thought and leadership? No
  • Board performance
    Has the board conducted a formal, written self-assessment of its performance within the past three years? No