Vermont Energy Investment Corp
95% goes to programs $0 to raise $100 Growing revenue
Vermont Energy Investment Corp is a 501(c)(3) organization based in Winooski, Vermont, registered in 1988, with $130,939,426 in FY2024 revenue. CharityIndex grades it A, and it directs about 95% of spending to programs.
20 Winooski Fallsway 5th, Winooski, VT, 05404 EIN 03-0304418 Since 1988
Revenue (FY2024)
$130.9M
▲ 6.4% vs prior year
Environment median: $250K
Expenses (FY2024)
$131.1M
Net assets
$28.7M
Employees
426
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
A+Program efficiency40% of the rating95% to programs · $0 to raise $100
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Vermont Energy Investment Corp: 95% to programs · $0 to raise $100 earns a A+ on this criterion. See the exact thresholds →
BFinancial health25% of the rating3 mo reserves · -0% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Vermont Energy Investment Corp: 3 mo reserves · -0% margin earns a B on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Vermont Energy Investment Corp: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Vermont Energy Investment Corp: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
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Mission
Veic is a sustainable energy company on a mission to generate the energy (continues in sched o)(continued) solutions the world needs.
What they do
The dc sustainable energy utility (dcseu) is the only utility in the country that combines energy savings goals with social equity goals. since 2011, the dcseu has helped district residents, businesses, and institutions generate more than $1.4 billion in lifetime energy cost savings and prevent more than 7 million tons of greenhouse gas emissions. the dcseu has invested more than $60 million in energy efficiency and renewable energy projects in low-income communities. our work is building a brighter economic, environmental, and energy future for the district (continues in schedule o).(continued) in 2024, the dcseu's efforts generated $333 million in lifetime cost savings for dc residents and businesses, created 90 green jobs for district residents, and prevented 1.08 million mtco2e in lifetime greenhouse gas emissions, the equivalent of 77 million gallons of gasoline consumed.
Efficiency smart helps participating municipal electric utilities and their customers reduce their energy use and save money through technical assistance and financial incentives. since 2011, efficiency smart has served more than 65 of american municipal power's member utilities in four states. in 2024, efficiency smart assisted an estimated 1,332 residential households and 178 businesses. these customers will realize more than $19.5 million in savings over the lifetime of the products they installed. in addition, participating municipal electric utilities will save nearly $11.5 million in energy, capacity, and transmission costs.
Veic provides national and international consulting services to utilities, businesses, government agencies, municipalities, and foundations. we work with our clients to decarbonize their energy systems through our four core services: energy efficiency, building decarbonization, transportation electrification, and making electricity grids clean and flexible. we help our clients save energy, reduce greenhouse gas emissions, and advance social and economic equity. in 2024, 59% of veic's org-wide consulting work had an explicit focus on low-to-moderate-income communities. in 2024, veic expended $9,383,100 in federal grants funded by the coronavirus state and local fiscal recovery funds.veic had a net loss for 2024 and had budgeted for this net loss in order to support making investments to support future year revenue growth. this was in line with veic's strategic plan to increase impact and delivery of its mission over the next several years.
Contact & location
- Address
- 20 Winooski Fallsway 5th, Winooski, VT, 05404
- City
- Winooski
- State
- Vermont
- Category
- Environment
- Subcategory
- Natural Resources Conservation
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $75.5M (FY2013) to $130.9M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $24.7MNet assets $28.7M
Operating margin
-0.2%
Spent more than it raised in the latest fiscal year.
Total assets
$53.4M
Total liabilities
$24.7M
Net assets
$28.7M
Salaries & benefits
$49.5M
38% of expenses
Board members
11
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $130,939,426▲6.4% | $131,141,340▲8.4% | $28,723,789▼0.7% | $53,392,034▲0.9% | 990 |
| 2023 | $123,099,830▲13.2% | $121,025,310▲13.9% | $28,925,703▲7.7% | $52,913,819▲1.7% | 990 |
| 2022 | $108,745,667▲14.5% | $106,290,392▲16.9% | $26,851,183▲10.1% | $52,044,292▲35.6% | 990 |
| 2021 | $94,935,292▼22.0% | $90,928,851▼22.3% | $24,395,908▲19.6% | $38,391,512▼8.9% | 990 |
| 2020 | $121,662,420▲22.9% | $116,957,963▲21.7% | $20,389,467▲30.0% | $42,152,408▲56.7% | 990 |
| 2019 | $99,018,110▲13.3% | $96,107,411▲12.5% | $15,685,010▲22.8% | $26,906,393▲18.6% | 990 |
| 2018 | $87,429,577▼8.6% | $85,400,411▼7.9% | $12,774,311▲18.9% | $22,684,853▼3.8% | 990 |
| 2017 | $95,648,100▲9.2% | $92,719,368▲5.7% | $10,745,145▲37.5% | $23,577,182▼5.8% | 990 |
| 2016 | $87,557,045▲2.0% | $87,715,728▲1.7% | $7,816,413▼2.0% | $25,030,404▲20.9% | 990 |
| 2015 | $85,840,612▼1.1% | $86,283,571▲0.6% | $7,975,096▼5.3% | $20,702,426▲0.2% | 990 |
| 2014 | $86,797,423▲15.0% | $85,810,638▲14.7% | $8,418,893▲13.3% | $20,660,969▼20.4% | 990 |
| 2013 | $75,495,921 | $74,813,409▲12.2% | $7,432,108▲32.9% | $25,961,901▲75.8% | 990 |
| 2011 | — | $66,669,382▲44.7% | $5,592,572▲55.1% | $14,769,787▲0.3% | 990 |
| 2010 | — | $46,089,664 | $3,606,916 | $14,720,402 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Rebecca Foster — $372,517 (0.28% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Rebecca Foster | Chief Executive Officer | 37.5 | $372,517 |
| Katherine Meyers | Chief Financial Officer | 37.5 | $274,920 |
| Lisa Harris | Chief People Officer | 37.5 | $266,073 |
| Brian Kealoha | Chief Growth and Impact Officer | 37.5 | $253,635 |
| Louis Hutchinson | Coo Through Nov. 2024 | 37.5 | $249,507 |
| Pierre Van Der Merwe | Chief Technology Officer | 37.5 | $248,730 |
| Matthew Dooley | Man. Dir., En Serv/int. Coo A/o Nov | 37.5 | $243,190 |
| Angela Johnson | Director, Finance, Dcseu | 37.5 | $204,658 |
| Ben Burdick | Interim Managing Director, Dcseu | 37.5 | $191,569 |
| Peter Walke | Managing Director, Efficiency Vt | 37.5 | $190,505 |
| Stephanie Phillips | Chief General Counsel | 37.5 | $186,999 |
| Ernest Jolly | Man. Dir., Dcseu Through Sep. 2024 | 37.5 | $160,993 |
| Ellen Zuckerman | Chair | 1 | $3,750 |
| Oswaldo Acosta | Treasurer | 1 | $3,000 |
| Nancy Owens | Vice Chair | 1 | $2,750 |
| Cederick Anthony Pickett | Secretary | 1 | $2,000 |
| Dale Bryk | Director | 1 | $2,000 |
| Dianne Dillon-ridgley | Director | 1 | $2,000 |
| Jacob Park | Director | 1 | $2,000 |
| Nick Richardson | Director | 1 | $2,000 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Capstone Community Action Inc | Customer Incentive Processor | $2,151,997 |
| Peer Consultants PC | Temp Staffing Agency | $741,217 |
| Swipejobs | Temp Staffing Agency | $463,061 |
| Aspen of Dc Inc | Temp Staffing Agency | $454,729 |
| Bpm LLP | Energy Consultant | $418,444 |
Grants received · $1.0M total
14 grants to Vermont Energy Investment Corp totaling $1.0M, reported by foundations on their Schedule I filings.
| Grantmaker | Purpose | Year | Amount |
|---|---|---|---|
| Rocky Mountain Institute | Support program | 2023 | $19,893 |
| Rocky Mountain Institute | Support program | 2022 | $96,265 |
| World Resources Institute | Promote envir sustainable transport solutions | 2022 | $15,547 |
| World Resources Institute | Promote envir sustainable transport solutions | 2021 | $111,932 |
| Vermont Community Foundation | General purpose | 2021 | $34,920 |
| New Hampshire Charitable Foundation | To facilitate, coordinate, and lead the energy efficiency value chain approach | 2020 | $96,500 |
| World Resources Institute | Promote envir sustainable transport solutions | 2020 | $25,496 |
| New Hampshire Charitable Foundation | For energy efficiency, value chain approach and conference support | 2019 | $218,175 |
| E4thefuture | To purchase and show a zero energy modular (zem) home for affordable housing options for low income residents in massachusetts. | 2019 | $45,000 |
| Sierra Club Foundation | To increase awareness of electric school bus technology and connect schools to volkswagen settlement funds to support deployment of this technology | 2018 | $50,000 |
| New Hampshire Charitable Foundation | To assess/select metrics-develop baseline data-north country energy effect value chain | 2018 | $20,000 |
| New Hampshire Charitable Foundation | To provide leadership and coordination for a value chain approach in energy efficiency | 2017 | $202,448 |
| Sierra Club Foundation | To educate state and school districts leaders about electric school buses and to accelerate investments in electric school bus pilot programs | 2017 | $50,000 |
| Pew Charitable Trusts | Policy | 2017 | $45,000 |
Grants made · $8.5M in FY2024
21 grants totaling $8.5M in FY2024 — showing the 15 largest. All grants made by Vermont Energy Investment Corp →
| Recipient | Purpose | Amount |
|---|---|---|
| Rutland West Neighborhood Housing Services Inc | Workforce development | $1,000,000 |
| Southwest Vermont Supervisory Union | Indoor air quality | $930,000 |
| Rutland Northeast Supervisory Union | Indoor air quality | $834,185 |
| Central Vermont Supervisory Union | Indoor air quality | $750,000 |
| Lyndon Institute | Indoor air quality | $616,655 |
| Vermont Achievement Center Inc | Indoor air quality | $614,890 |
| Mount Abraham Unified School District | Indoor air quality | $506,400 |
| Orange East Supervisory Union | Indoor air quality | $503,840 |
| Burlington School District | Indoor air quality | $380,838 |
| Milton Town School District | Indoor air quality | $374,487 |
| North Country Supervisory Union | Indoor air quality | $300,000 |
| Addison Northwest School District | Indoor air quality | $300,000 |
| Clara Martin Center Inc | Indoor air quality | $279,168 |
| Mountain Views Supervisory Union | Indoor air quality | $250,000 |
| Windham Central Supervisory Union | Indoor air quality | $240,000 |
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Compare Vermont Energy Investment Corp
Frequently asked questions
- Is Vermont Energy Investment Corp a legitimate nonprofit?
- Yes. Vermont Energy Investment Corp is a 501(c)(3) organization registered with the U.S. Internal Revenue Service under EIN 03-0304418, based in Winooski, Vermont. Donations are tax-deductible.
- What is Vermont Energy Investment Corp's EIN?
- Vermont Energy Investment Corp's Employer Identification Number (EIN) is 03-0304418.
- How much revenue does Vermont Energy Investment Corp report?
- Vermont Energy Investment Corp reported $130,939,426 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Vermont Energy Investment Corp's spending goes to programs?
- Vermont Energy Investment Corp spends about 95% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Vermont Energy Investment Corp have?
- CharityIndex grades Vermont Energy Investment Corp A, based on program efficiency and fundraising cost.
- How much does Vermont Energy Investment Corp's highest-paid employee make?
- The highest reported compensation on Vermont Energy Investment Corp's latest Form 990 is $372,517, paid to Rebecca Foster (Chief Executive Officer).
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Data for Vermont Energy Investment Corp (EIN 03-0304418) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.