CIRCULATE INITIATIVE INC

EIN: 834505154 501(c)(3) Environment

NEW YORK, NY

Total Revenue
$1,974,077
Total Expenses
$2,510,477
Total Assets
$3,322,495
Net Assets
$1,267,416
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
DE
Principal Officer
MICHAEL SADOWSKI
Phone
6467831943
Tax Period
2024-01-01 to 2024-12-31

CIRCULATE INITIATIVE INC, founded in 2018, is a community nonprofit in the Environment sector that reported $2.0M in total revenue in fiscal year 2024. Revenue surged 45% from the prior year, signaling strong growth momentum. Expenses of $2.5M exceeded revenue, resulting in a 27% operating deficit.

Mission

THE ORGANIZATION'S PURPOSE IS TO TARGET THE REDUCTION OF OCEAN PLASTICS AND RELATED ENVIRONMENTAL POLLUTION AND COMBATING ENVIRONMENTAL DETERIORATION BY CONDUCTING ACTIVITY IN SOUTH AND SOUTH EAST ASIA THROUGH THREE OF ITS CORE STRATEGIES: INCUBATION AND TECHNICAL ASSISTANCE; IMPACT MEASUREMENT AND KNOWLEDGE MANAGEMENT; AND AMPLIFICATION AND AWARENESS BUILDING IN FURTHERANCE OF THE SOCIAL AND ENVIRONMENTAL IMPACTS OF REDUCING THE AMOUNT OF PLASTIC ENTERING THE ENVIRONMENT AND CREATING ECONOMIC VALUE FOR MARGINALIZED LOCAL COMMUNITIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $1,738,577
Program Service Revenue $200,445
Investment Income $35,055
Other Revenue $0
TOTAL REVENUE $1,974,077

Expense Breakdown

Grants Paid $274,267
Salaries & Benefits $311,357
Fundraising Expenses $0
Program Expenses $2,192,592
Other Expenses $1,924,853
TOTAL EXPENSES $2,510,477

Year-over-Year Comparison

2024 2023 Change
Revenue $1,974,077 $1,364,382 +0.4%
Expenses $2,510,477 $2,004,736 +0.3%
Net Income $-536,400 $-640,354 -0.2%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
5
Independent Members
3
Employees
N/A
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
4
$311,357
Total Directors
5
$141,750
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ROBERT KAPLAN BOARD MEMBER/TREASURER 1.00
Officer Director
$0 $0 $0
MICHAEL SADOWSKI EXEC DIRECTOR AND BOARD MEMBER 16.00
Officer Director
$141,750 $0 $141,750
HEATHER CANON BOARD MEMBER 1.00
Director
$0 $0 $0
ARIEL MULLERTHRU DEC 2024 BOARD MEMBER/SECRETARY 1.00
Officer Director
$0 $0 $0
KAVITA PRAKASH-MANI BOARD MEMBER 1.00
Director
$0 $0 $0
KHUNAPONG KHUNARAKSA SR. DIRECTOR, FINANCE & OPS 40.00
Officer
$165,293 $4,314 $169,607
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2024 $1,974,077 $2,510,477 $3,322,495 $-536,400
2023 $1,364,382 $2,004,736 $2,268,604 $-640,354
2022 $4,096,428 $3,951,480 $2,645,356 $144,948
2021 $3,893,164 $3,958,123 $3,225,449 $-64,959
2020 $3,202,863 $4,000,724 $3,395,567 $-797,861
2019 $6,540,474 $1,616,964 $4,984,810 $4,923,510
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