Fiscal Year 2018 Audited Financial Statements

Total Page:16

File Type:pdf, Size:1020Kb

Fiscal Year 2018 Audited Financial Statements 350.ORG FINANCIAL STATEMENTS SEPTEMBER 30, 2018 350.ORG TABLE OF CONTENTS SEPTEMBER 30, 2018 Pages Independent Auditors’ Report ................................................................................................ 3-4 Financial Statements Statement of Financial Position ......................................................................................... 5 Statement of Activities ...................................................................................................... 6 Statement of Cash Flows ................................................................................................... 7 Notes to Financial Statements ............................................................................................ 8-13 7910 WOODMONT AVENUE 1150 18TH STREET, NW SUITE 500 SUITE 550 BETHESDA, MD 20814 WASHINGTON, DC 20036 (T) 301.986.0600 (T) 202.822.0717 Independent Auditors’ Report Board of Directors 350.Org Washington, D.C. We have audited the accompanying financial statements of 350.Org (the Organization) (a nonprofit organization), which comprise the statement of financial position as of September 30, 2018, and the related statements of activities and cash flows for the year then ended, and the related notes to the financial statements. Management’s Responsibility for the Financial Statements Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America; this includes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error. Auditors’ Responsibility Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free from material misstatement. An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. The procedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments, the auditors consider internal control relevant to the entity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. Accordingly, we express no such opinion. An audit also includes evaluating the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Opinion In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of 350.Org as of September 30, 2018, and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. COUNCILOR, BUCHANAN & MITCHELL, P.C. – CPAs AND BUSINESS ADVISORS www.cbmcpa.com | (F) 301.986.0432 Board of Directors 350.Org Report on Summarized Comparative Information We have previously audited the Organization’s September 30, 2017, financial statements, and we expressed an unmodified audit opinion on those financial statements in our report dated March 13, 2018. In our opinion, the summarized comparative information presented herein as of and for the year ended September 30, 2017, is consistent, in all material respects, with the audited financial statements from which it has been derived. Washington, D.C. Certified Public Accountants December 3, 2019 - 4 - 350.ORG STATEMENT OF FINANCIAL POSITION SEPTEMBER 30, 2018 (WITH SUMMARIZED FINANCIAL INFORMATION AS OF SEPTEMBER 30, 2017) 2018 2017 Assets Current Assets Cash and Cash Equivalents $ 11,836,712 $ 11,026,169 Grants and Contributions Receivable 1,862,079 742,666 Receivable from Employee 58,660 - Due from 350.Org Action Fund 247,238 56,677 Prepaid Expenses and Other Current Assets 398,413 149,545 Total Current Assets 14,403,102 11,975,057 Grants and Contributions Receivable, Net of Current Portion 1,202,185 246,378 Investments 67,133 62,707 Deposits 368,125 32,506 Property and Equipment, Net 107,692 70,913 Total Assets $ 16,148,237 $ 12,387,561 Liabilities and Net Assets Current Liabilities Accounts Payable and Accrued Expenses $ 931,539 $ 575,495 Accrued Vacation 501,501 222,429 Grants Payable 803,272 340,000 Total Current Liabilities 2,236,312 1,137,924 Net Assets Unrestricted 10,357,530 10,240,799 Temporarily Restricted 3,554,395 1,008,838 Total Net Assets 13,911,925 11,249,637 Total Liabilities and Net Assets $ 16,148,237 $ 12,387,561 See accompanying Notes to Financial Statements. - 5 - 350.ORG STATEMENT OF ACTIVITIES FOR THE YEAR ENDED SEPTEMBER 30, 2018 (WITH SUMMARIZED FINANCIAL INFORMATION FOR THE YEAR ENDED SEPTEMBER 30, 2017) Temporarily 2018 2017 Unrestricted Restricted Total Total Revenue Grants and Contributions $ 14,308,453 $ 4,719,704 $ 19,028,157 $ 16,784,979 Donated Services 600 - 600 30,521 Investment Income 23,342 - 23,342 5,364 Other Income 39,777 - 39,777 20,387 Releases from Restriction 2,174,147 (2,174,147) - - Total Revenue 16,546,319 2,545,557 19,091,876 16,841,251 Expenses Program Services Field 10,534,512 - 10,534,512 8,665,999 Communications 1,417,717 - 1,417,717 788,925 Digital 1,265,988 - 1,265,988 1,007,423 Total Program Services 13,218,217 - 13,218,217 10,462,347 Supporting Services Management and General 2,548,536 - 2,548,536 1,955,557 Fundraising 662,835 - 662,835 490,882 Total Supporting Services 3,211,371 - 3,211,371 2,446,439 Total Expenses 16,429,588 - 16,429,588 12,908,786 Change in Net Assets 116,731 2,545,557 2,662,288 3,932,465 Net Assets, Beginning of Year 10,240,799 1,008,838 11,249,637 7,317,172 Net Assets, End of Year $ 10,357,530 $ 3,554,395 $ 13,911,925 $ 11,249,637 See accompanying Notes to Financial Statements. - 6 - 350.ORG STATEMENT OF CASH FLOWS FOR THE YEAR ENDED SEPTEMBER 30, 2018 (WITH SUMMARIZED FINANCIAL INFORMATION FOR THE YEAR ENDED SEPTEMBER 30, 2017) 2018 2017 Cash Flows from Operating Activities Change in Net Assets $ 2,662,288 $ 3,932,465 Adjustments to Reconcile Change in Net Assets to to Net Cash Provided by Operating Activities Depreciation and Amortization 47,943 38,431 Donated Securities Received (397,141) (684,711) Proceeds from Sales of Donated Securities 392,715 691,790 (Increase) Decrease in Grants and Contributions Receivable (2,075,220) 385,263 Increase in Receivable from Employee (58,660) - (Increase) in Prepaid Expenses and Other Current Assets (248,868) (125,174) Increase in Deposits (335,619) (5,683) Increase in Accounts Payable and Accrued Expenses 356,044 101,992 (Increase) Decrease in Due from 350.Org Action Fund (190,561) 81,190 Increase (Decrease) in Accrued Vacation 279,072 (21,199) Increase in Grants Payable 463,272 340,000 Net Cash Provided by Operating Activities 895,265 4,734,364 Cash Flows from Investing Activities Purchases of Property and Equipment (84,722) (54,285) Net Cash Used in Investing Activities (84,722) (54,285) Net Increase in Cash and Cash Equivalents 810,543 4,680,079 Cash and Cash Equivalents, Beginning of Year 11,026,169 6,346,090 Cash and Cash Equivalents, End of Year $ 11,836,712 $ 11,026,169 See accompanying Notes to Financial Statements. - 7 - 350.ORG NOTES TO FINANCIAL STATEMENTS SEPTEMBER 30, 2018 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES 350.Org (the Organization) is a dynamic and highly collaborative climate change campaign, building a global grassroots movement to solve the climate crisis. The Organization works with volunteers in countries around the world, using online tools to facilitate strategic campaigns, grassroots organizing, and public engagement actions in order to communicate both the realities of science and principles of justice and help realize the solutions that will ensure a better future for all. The Organization is supported primarily by grants and contributions. The major programs of the Organization are as follows: Field: The Field program works to bring international and national policy more in line with the scientific necessities of tackling the climate crisis. This work is accomplished by building broad and deep connections to support an international network of climate activists, as well as identifying key moments to elevate an issue and advocate for social change. Communications: The Communications program works to shape the terms of debate on climate change internationally and domestically through a creative and incisive narrative, and a sophisticated media strategy encompassing both traditional and new media. Digital: The Digital program works to facilitate dialogue and organizing amongst individuals, organizers, and organizations in the global climate movement around the world. This work is accomplished through online media such as emails, blogs, and social networks, multimedia such as photo galleries and videos, and
Recommended publications
  • Eco-Anxiety: a Discourse Analysis of Media Representations of the School Strike for Climate
    Running head: YOUTH CLIMATE CHANGE MOVEMENT 1 Eco-Anxiety: A Discourse Analysis of Media Representations of the School Strike for Climate Movement Brittany Smith This thesis is submitted in partial fulfilment of the Honours degree of Bachelor of Psychological Science (Honours) School of Psychology Faculty of Health and Medical Sciences The University of Adelaide Submission Date: 29 September 2020 Word count: 9,083 YOUTH CLIMATE CHANGE MOVEMENT 2 Table of Contents Table of Contents .........................................................................................................................2, 3 List of Tables ....................................................................................................................................4 Abstract ............................................................................................................................................5 Declaration .......................................................................................................................................6 Contribution Statement ....................................................................................................................7 Acknowledgements ..........................................................................................................................8 Chapter 1: Introduction ....................................................................................................................9 1.1. Overview ...................................................................................................................9
    [Show full text]
  • Columbia University Task Force on Climate: Report
    COLUMBIA UNIVERSITY TASK FORCE ON CLIMATE: REPORT Delivered to President Bollinger December 1, 2019 UNIVERSITY TASK FORCE ON CLIMATE FALL 2019 Contents Preface—University Task Force Process of Engagement ....................................................................................................................... 3 Executive Summary: Principles of a Climate School .............................................................................................................................. 4 Introduction: The Climate Challenge ..................................................................................................................................................... 6 The Columbia University Response ....................................................................................................................................................... 7 Columbia’s Strengths ........................................................................................................................................................................ 7 Columbia’s Limitations ...................................................................................................................................................................... 8 Why a School? ................................................................................................................................................................................... 9 A Columbia Climate School .................................................................................................................................................................
    [Show full text]
  • Focus on Change: a Closer Look at Climate Change Impacts in the Northeast
    Focus on Change: A Closer Look at Climate Change Impacts in the Northeast A synthesis of the June 27, 2012 conference held at Pace’s Schimmel Theater in downtown Manhattan This synthesis has been drafted by the staff of the Pace Energy and Climate Center and is not a word-for-word transcript of the event. Any errors or omissions are the responsibility of Pace and the text should not be used for quotations or direct attribution to speakers without the speaker's permission. What’s at Stake? Bill McKibben & 350.org The sprawling nature of the environmental movement is a bright light to emphasize before focusing on the grimmer stuff. People of all kinds are trying to do something about climate change, the greatest problem that we have ever faced. CNN has called the climate movement the “most widespread political activity in the history of the planet.” 350.org has organized 20,000 rallies in 192 countries, every nation save North Korea. Still, the fight against climate change is being lost. The level of carbon in the atmosphere is increasing, and worse, the temperature is increasing. Just this spring, researchers in the Arctic recorded CO2 concentrations of more than 400 parts per million (ppm), which is well above the 350 ppm that scientists have determined is the highest safe CO2 concentration and from which 350.org takes its name. Within 18 months, the rest of the world will catch up to the Arctic CO2 concentration, which is the highest level recorded in 800,000 years. From these sobering statistics we take renewed determination.
    [Show full text]
  • Climate Change and Social Campaigns Abstract
    DOI: 10.25122/jml-2020-0173 Journal of Medicine and Life Vol. 13, Issue 4, October-December 2020, pp. 454–457 Climate Change and Social Campaigns Raluca Raducu1, Cristina Soare1, Cristina-Mihaela Chichirez1*, Monica Roxana Purcarea2 1. Department of Marketing and Medical Technology, “Carol Davila” University of Medicine and Pharmacy, Bucharest, Romania 2. Department of Nephrology, “Carol Davila” Clinical Nephrology Hospital, Bucharest, Romania * Corresponding Author: Cristina - Mihaela Chichirez, PhD Assist Department of Marketing and Medical Technology, Carol Davila University of Medicine and Pharmacy, 8, Eroilor Sanitari Boulevard, 050474, Bucharest, Romania Phone: +40742814902 E-mail: [email protected] Received: August 20th, 2020 – Accepted: November 7th, 2020 Abstract The impact of climate change on humanity and nature is increasingly evident. The atmosphere and oceans have warmed, leading to rising sea levels, a sharp drop in Arctic sea ice, floods, heatwaves, and fires. Calls to action are getting stronger. Concerns about climate change have become a full social movement, stimulating climate activism from the bottom up to the world, especially among young people. Campaigns are initiated by governments and international organizations, scientists and scientific institutions, organiza- tions, groups, and people in civil society, public intellectuals and political, religious leaders, people of culture and entertainment. These campaigns generally aim to inform, raise awareness and shape public understanding about the science, problems, and policy of cli- mate change, with the hope that, first of all, people will change their attitudes and behavior, and secondly, will mobilize to put pressure on policymakers for effective climate policies. Keywords: Civil society, climate activism, climate change, demonstrations, social campaigns.
    [Show full text]
  • Arab Youth Climate Movement
    + Arab Youth Climate Movement UNEP – ROWA Regional Stakeholders Meeting + From Rio to Doha + Rio+20 + UNEP’s Role in Civil Society engagement Build on the Rio+20 outcomes para. 88h and 99 in particular, and to make sure that we see progress: The need for an international convention on procedural rights, as well as regional conventions with compliance mechanisms. The need for UNEP to show leadership when implementing its new mandate under para 88h and to promote mechanisms for a strengthening of public participation in International Environmental Governance, not only within its own processes but also across the whole IEG (as it has done in the past with its Bali Guidelines). + + Sept 2012 - Birth of the Arab Youth Climate Movement (AYCM) + + Arab Youth Climate Movement The Arab Youth Climate Movement (AYCM) is an independent body that works to create a generation-wide movement across the Middle East & North Africa to solve the climate crisis, and to assess and support the establishment of legally binding agreements to deal with climate change issue within international negotiations. The AYCM has a simple vision – we want to be able to enjoy a stable climate similar to that which our parents and grandparents enjoyed. + COP18 + Day of Action – Key Messages Climate change is a threat to all life on the planet. Unfortunately, the Arab countries have so far been the only region that is ignoring the threat of climate change. Arab leaders must fulfill their responsibilities towards future generations, by working constructively and strongly on the national and international level to achieve greenhouse gas emission reduction in the region and globally.
    [Show full text]
  • Climate Justice Club Presents a Factbook on the Intersection of Social Justice and Environmental and Climate Justice
    The College of Saint Benedict and Saint John’s University’s Climate Justice Club presents a Factbook on the intersection of social justice and environmental and climate justice. During the summer of 2020, we released the Factbook Unlearning Racist Behaviors in the Climate Activist World, which addresses the intersection of climate justice and environmental racism. The purpose of this factbook is to encourage our audience to utilize the sources in an effort to educate themselves about the disproportionate impact polluting industries have on communities of color. Social Justice in the Environmental Movement: A Factbook to Explore and Learn About the Intersection of Social Justice & Environmental and Climate Justice expands on our past factbook by not only considering how our club’s mission overlaps with racial justice, but with social justice as a whole. Please visit NAACP’s website to learn more about environmental and climate justice. Climate Justice Club encourages you to read through these resources to understand/learn why there is no climate justice without social justice. Please view the Table of Contents to explore the various media presented throughout the Factbook; there are resources for everyone! We believe it is pertinent that we continue educating ourselves and turn this learning into collective action. Share with us the information that stuck out most to you, and promote it on social media! We would like to credit the organization/platform Intersectional Environmentalist for providing some of the resources found throughout the Factbook. Authored by Maggie Morin With Support by Con Brady, Melissa Burrell, Valerie Doze, Tamia Francois, & Carolyn Rowley In Collaboration with Saint John’s Outdoor University 1 Table of Contents Items below are hyperlinked for your convenience.
    [Show full text]
  • Climate Change & Audit
    No 2| 2020 Climate Change & Audit Journal Our responsibility towards “ future generations 1 Table of contents 13 32 The United Nations providing Climate action – already at scientific facts to assess climate the forefront of EU policy change and its impacts through making for a decade the IPCC - worth a Nobel Prize By Mauro Petriccione, Director-General By Abdalah Mokssit, Secretary of the for Climate Action (CLIMA), European Intergovernmental Panel on Climate Change (IPCC) Commission 37 INTERVIEW Interview with Iliana Ivanova and Nikolaos Milionis, ECA Members Stepping up climate action audits… to address climate change realities 92 06 EDITORIAL 32 Climate action – already at the forefront of EU 08 European climate policy in 2020: at the crossroads policy making for a decade between leadership aspirations and struggles to By Mauro Petriccione, Director-General for Climate Action put promises into practice (CLIMA), European Commission Charlotte Unger, Institute for Advanced Sustainability Studies 37 Stepping up climate action audits… to address (IASS) climate change realities 13 The United Nations providing scientific facts to IInterview with Iliana Ivanova and Nikolaos Milionis, assess climate change and its impacts through the ECA Members IPCC - worth a Nobel Prize By Gaston Moonen By Abdalah Mokssit, Secretary of the Intergovernmental Panel 43 Auditing EU actions on climate change: what on Climate Change (IPCC) issues and challenges EU auditors faced? 18 It takes more than markets: first lessons from the By Phil Wynn Owen, former ECA
    [Show full text]
  • Climate Futures: Youth Perspectives
    Conference briefing Climate Futures: Youth Perspectives February 2021 William Finnegan #clClimateFutures cumberlandlodge.ac.uk @CumberlandLodge Foreword This briefing document has been prepared to guide and inform discussions at Climate Futures: Youth Perspectives, the virtual conference we are convening from 9 to 18 March 2021. It provides an independent review of current research and thinking, and information about action being taken to address the risks associated with our rapidly changing climate. In March, we are convening young people from schools, colleges and universities across the UK, together with policymakers, charity representatives, activists, community practitioners and academics, for a fortnight of intergenerational dialogue on some of the biggest challenges facing the planet today. We are providing a platform for young people to express their views, visions and expectations for climate futures, ahead of the 2021 United Nations Climate Change Conference (COP26) in Glasgow, this November. Ideas and perspectives from the Cumberland Lodge conference will be consolidated into a summary report, to be presented to the Youth4Climate: Driving Ambition meeting (Pre-COP26) in Milan this September. We are grateful to our freelance Research Associate, Bill Finnegan, for preparing this resource for us. Bill will be taking part in our virtual conference and writing our final report. The draft report will be reviewed and refined at a smaller consultation involving conference participants and further academics and specialists in the field of climate change, before being published this summer. I hope that you find this briefing useful, both for the conference discussions and your wider work and study. I look forward to seeing you at the conference.
    [Show full text]
  • How Does Greta Thunberg Use the Discourse of Youth in Her Movement For
    UNIVERSITY OF CALGARY The Greta Effect: How does Greta Thunberg use the discourse of youth in her movement for climate justice? By Leann E. Leung Supervisors: Dr. Mél Hogan & Dr. Tamara Shepherd A THESIS SUBMITTED TO THE FACULTY OF ARTS IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE DEGREE OF “BA HONOURS COMMUNICATION AND MEDIA STUDIES” DEPARTMENT OF COMMUNICATION, MEDIA AND FILM CALGARY, ALBERTA APRIL, 2020 © Leann E. Leung 2020 2 Abstract In Winter 2018, Greta Thunberg, a 15-year-old Swedish climate activist stopped going to school and started to protest outside of the Swedish Parliament with a sign that said, “Skolstrejk för Klimatet”, which stands for “Schoolstrike for Climate”. Fast forward to September 2019, with the help of social media, she led four million people around the world for the “Fridays4Future” global climate strike, and was named Time Magazine’s “Person of the Year” for 2019. Using the critical discourse analysis framework purposed by Fairclough and Janks, and drawing on Foucault’s theorization on discourse, power and resistance, this thesis analyzes three of Greta Thunberg’s speeches to understand the way she draws on different linguistic functions to form discursive frames about the identity and ideology of youth. Evidence from the analysis concludes that while Thunberg is politically resistant in her attempts to subvert the traditional social and familial hierarchies of power, she uses both dominant and counter discourses about youth to articulate her political position. The conclusion also suggests that the oppositional position of young people in the climate movement represents a counter-power, that mutually constitutes a power struggle along with the dominant power.
    [Show full text]
  • Fossil Fuel Divestment in US Higher Education: Student-Led Organising
    Local Environment, 2015 http://dx.doi.org/10.1080/13549839.2015.1009825 Fossil fuel divestment in US higher education: student-led organising for climate justice ∗ Jessica Grady-Bensona and Brinda Sarathyb aYoung Alumni Organizer, Responsible Endowments Coalition, Brooklyn, NY, USA; bAssociate Professor of Environmental Analysis, Pitzer College, Claremont, CA, USA (Received 21 September 2014; accepted 14 January 2015) Based on over one year of participant observation within the student-led fossil fuel divestment (FFD) movement, this article contextualises the origins, successes, challenges, and inner workings of the FFD movement in US higher education. We analyse several college divestment campaigns to illuminate key factors that have contributed to wins and rejections, and explore why students continue to organise for FFD. It is our contention that such widespread mobilisation for FFD signals a sea change, from individualised sustainability efforts to youth-led collective political action, and recognition of climate change as a social justice issue. In addition to participant observation, we gathered data from 23 survey responses of organisers involved in divestment campaigns within higher education, and 40 interviews with individuals including student and professional organisers within the FFD movement, institutional decision-makers at campuses with FFD campaigns, and other experts in the area. Our analysis also reveals that relatively smaller endowments and, more importantly, institutional values of environmental sustainability and social justice played key roles in colleges’ decision to divest. Our examination of divestment “losses” illuminates common arguments administrators deploy in their rejection statements, including the perceived costs of divestment, the need to maintain fiduciary responsibility, and scepticism that divestment will have any impact on the fossil fuel industry.
    [Show full text]
  • Protest for a Future II
    Protest for a future II Composition, mobilization and motives of the participants in Fridays For Future climate protests on 20-27 September, 2019, in 19 cities around the world Edited by Joost de Moor, Katrin Uba, Mattias Wahlström, Magnus Wennerhag, and Michiel De Vydt Table of Contents Copyright statement ......................................................................................................................... 3 Summary........................................................................................................................................... 4 Introduction: Fridays For Future – an expanding climate movement ................................................. 6 Background ................................................................................................................................... 7 Description of the survey collaboration and the survey methodology ............................................ 8 Age, gender and education .......................................................................................................... 11 Mobilization networks ................................................................................................................. 15 Emotions ..................................................................................................................................... 19 The “Greta effect” ....................................................................................................................... 23 Proposed solutions to the climate problem
    [Show full text]
  • Mexican Youth Climate Movement
    Mexican Youth Climate Movement April 21st, 2021 To the esteemed Heads of State and Government at the Leaders Summit on Climate, We, as Mexico´s youth, would like to deliver a message of the utmost urgency. We are addressing you not only as political leaders, but also as the captains of our common ship — this unique, gorgeous planet Earth that is home to everything you cherish and everyone you love. The climate crisis is the biggest threat humanity has ever faced. The future of today’s youth and generations yet born depends on our capacity to transcend our divisions to think and act collectively to meet this existential challenge. As you gather for the Climate Summit, we are deeply concerned that President Lopez Obrador is actively working to take our country backwards with the adoption of reforms to our electric industry law that would increase Mexico’s annual greenhouse gas emissions in 2024 by 32% over 2020 levels according to analysis by the Mexican Climate Initiative.I The reforms erect major new barriers to clean energy deployment to ensure new markets for dirty, heavy fuel oil produced by our national oil company, PEMEX. As you know, the next generations around the world will experience much greater global temperature and climate change impacts—increased and more severe floods, cyclones, droughts, heat waves, water scarcity, etc.— than older age groups, who will not live to see the more extreme impacts of climate change materialize. On March 24th, 16 Mexican youth climate organizations and more than 200 individual young people filed a petition for protection of constitutional rights challenging these reforms to the Electricity Industry Act that would reverse the nation’s transition to clean energy.
    [Show full text]