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Nonprofit · EIN 88-1122351

TERRASET

Tax-exempt · NEW YORK, NY 10001

Financials

$3.6M$3.4M2024
Revenue Expenses · by fiscal year end
Financials of TERRASET by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$3,573,511$3,417,532$155,979$847,059$121,488$725,571
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$3,552,903
Program service revenue
$0
Investment income
$19,873
Net gain from sales of assets
-$27,034
Other revenue
$735

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$345,743
Other salaries and wages
$76,256
Salaries, compensation and benefits (total)
$447,485
Professional fundraising fees
$0
Legal fees
$992
Accounting fees
$4,107
Occupancy
$2,292
Travel
$7,753
Program services (functional)
$2,977,445
Management and general (functional)
$203,653
Fundraising (functional)
$236,434

Balance sheet and other

Total assets, start of year
$569,118
Total assets, end of year
$847,059
Total liabilities, end of year
$121,488
Net assets, end of year
$725,571
Publicly traded securities
$250,999
Net assets without donor restrictions
$723,007
Net assets with donor restrictions
$2,564
Gross receipts
$6,471,076
Employees
2
Volunteers
18
Year formed
2022
State of legal domicile
CO

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensation
ADAM FRASERCEO & PRESIDENT
Officer
40$326,243
ALEX ROETTERFOUNDER & CHAIR
Trustee or director, Officer
10$0
CHRIS WEDDINGTREASURER
Trustee or director, Officer
10$0
ERZSI SOUSASECRETARY
Trustee or director, Officer
10$0

Address and contacts

Address (IRS master file)
244 FIFTH AVE STE 2454, NEW YORK, NY 10001-7604
In care of
% ADAM FRASER
Principal officer (990 for 2024)
ADAM FRASER, 2525 ARAPAHOE AVE STE E4 706, BOULDER, CO 80302
Signed the 990
ADAM FRASER, CEO & PRESIDENT
Phone
(646) 355-8390
Return prepared by
CONDON O'MEARA MCGINTY & DONNELLY LLP

Mission

TERRASET USES PHILANTHROPIC CAPITAL TO PURCHASE PERMANENT, HIGH-QUALITY CARBON REMOVAL. WE POOL DONATIONS FROM INDIVIDUALS, FOUNDATIONS, FAMILY OFFICES, AND DONOR ADVISED FUNDS, AND MAKE STRATEGIC PURCHASES OF HIGH-QUALITY CARBON REMOVAL FROM INNOVATIVE PROJECTS AND COMPANIES.

990 for the year ended December 31, 2024

Program accomplishments

  • TERRASET'S PROGRAMMATIC ACTIVITIES ARE FOCUSED ON CARBON REMOVAL (CDR). SCALING CDR IS ESSENTIAL. CDR SOLUTIONS EXIST, BUT THEY'RE NOT GROWING FAST ENOUGH, AND THERE AREN'T ENOUGH OF THEM. OUR PROJECTS USE A RANGE OF METHODOLOGIES TO REMOVE CARBON FROM THE ATMOSPHERE THANKS TO OUR CATALYTIC PHILANTHROPIC CAPITAL. THE BENEFITS OF THESE PROJECTS GO FAR BEYOND JUST REMOVING CARBON - THEY CREATE JOBS, BOOST BIODIVERSITY, AND SUPPORT LOCAL COMMUNITIES. THEY IMPROVE SOIL HEALTH, STRENGTHEN WILDFIRE RESILIENCE, AND REVITALIZE MARINE ECOSYSTEMS.
    Expenses $2,977,445

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
88-1122351
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (170(b)(1)(A)(vi))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
2022
Accounting year ends
December
Files
Form 990 or 990-EZ
Category (NTEE)
Environment (C20)
Assets (IRS master file)
$847,059
Income (IRS master file)
$6,471,076

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$3,573,511$3,417,532$847,059XML
990December 2023$995,334$522,782$569,118IRS
990-EZDecember 2022–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 88-1122351).

Questions about TERRASET

What is the EIN of TERRASET?
The employer identification number (EIN) of TERRASET is 88-1122351.
Is TERRASET tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
Are donations to TERRASET tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does TERRASET file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of TERRASET due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did TERRASET last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of TERRASET?
The 990 for the year ended December 31, 2024 names ADAM FRASER.
Who are the officers and directors of TERRASET?
The 990 for the year ended December 31, 2024 lists 4 people; 1 received compensation from the organization, the highest $326,243 (ADAM FRASER, CEO & PRESIDENT).
How much revenue does TERRASET have?
On its 990 for the year ended December 31, 2024 it reported revenue of $3,573,511, expenses of $3,417,532 and total assets of $847,059 at year end.

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