Overview
What is Vermont Energy Investment Corporation?
The Vermont Energy Investment Corporation (VEIC) is a sustainable energy company based in Winooski, Vermont. With a mission to create energy solutions for a more affordable and low-carbon future, VEIC has been working in partnership with governments, utilities, foundations, and businesses across North America for over 35 years. Through expertise in energy efficiency, building and transportation electrification, and clean and flexible grid solutions, VEIC brings innovative approaches to the market that meet sustainability goals and reduce greenhouse gas emissions. VEIC is recognized for developing pilots and programs that optimize energy use, support low-income customers, and advance new technologies. VEIC administers three large-scale sustainable energy programs: Efficiency Vermont, Efficiency Smart, and the DC Sustainable Energy Utility. Collectively, these programs have saved Vermonters over $3 billion and avoided over 13 million tons of CO2e in emissions since 2000.
Official website here: www.veic.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96% (Four-Star out of Four Star rating)
The Vermont Energy Investment Corporation (VEIC) boasts an impressive 96% rating, demonstrating a strong commitment to accountability and financial health. The organization has achieved full marks in multiple areas including its independent board composition and effective financial oversight, indicating robust governance practices and transparency in its operations.
VEIC's high program expense ratio of 97.58% suggests that the majority of its funding is directed towards its mission-related activities, highlighting its focus on energy efficiency and sustainability initiatives. The absence of any material diversion of assets further reinforces its financial integrity and the trustworthiness of its management.
While the overall data is highly positive, it is important for potential donors to consider ongoing evaluation of the organization's impact and effectiveness in fulfilling its mission. Nonetheless, the strong scores across various accountability metrics position VEIC as a reliable nonprofit in the energy sector.
This AI summary has been generated from information found on Charity Navigator.
Is Vermont Energy Investment Corporation legitimate?
Vermont Energy Investment Corporation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Vermont Energy Investment Corporation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $1,455,915
Professional Fundraising Fees: $0
Other Salaries and Wages: $33,603,225
For more financial information, click here
Official website here: www.veic.org
What is the mission statement of Vermont Energy Investment Corporation?
The Vermont Energy Investment Corporation is a sustainable energy company committed to generating solutions that address the world's energy needs. With over 35 years of experience, this mission-driven organization has collaborated with various entities across North America to develop and implement clean energy services. Through their expertise in energy efficiency, building and transportation electrification, and a clean and flexible grid, VEIC introduces innovative solutions to the market, contributing to goals that reduce greenhouse gas emissions. Recognized for their pioneering work, they have developed pilots and programs that optimize energy usage, lessen energy burdens for low-income customers, and promote new technologies. In addition to their full-service consulting business, VEIC oversees three large-scale sustainable energy programs: Efficiency Vermont, Efficiency Smart, and the DC Sustainable Energy Utility.
Official website here: www.veic.org
Who is the CEO of Vermont Energy Investment Corporation?
Rebecca Foster is the CEO of Vermont Energy Investment Corporation The CEO's salary of Vermont Energy Investment Corporation is $315,599 and their total compensation is $330,269.
Official website here: www.veic.org
What is the revenue of Vermont Energy Investment Corporation?
Vermont Energy Investment Corporation's revenue in 2023 was $123,099,830.
Official website here: www.veic.org
Who are the executives of Vermont Energy Investment Corporation and what are their salaries?
The average compensation at Vermont Energy Investment Corporation during 2023 was $90,359. There are 388 employees at Vermont Energy Investment Corporation.
Here are 24 key members and their salaries (Vermont Energy Investment Corporation's CEO's salary is $315,599 and their total compensation is $330,269):
- Compensation: $1,500
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $4,250
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $2,500
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $3,000
- Related: $0
- Other: $0
- Compensation: $2,500
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $1,000
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $315,599
- Related: $0
- Other: $14,670
- Compensation: $200,641
- Related: $0
- Other: $9,850
- Compensation: $178,144
- Related: $0
- Other: $8,690
- Compensation: $183,180
- Related: $0
- Other: $3,311
- Compensation: $190,988
- Related: $0
- Other: $1,933
- Compensation: $228,997
- Related: $0
- Other: $2,254
- Compensation: $210,434
- Related: $0
- Other: $9,454
- Compensation: $186,090
- Related: $0
- Other: $9,579
- Compensation: $187,385
- Related: $0
- Other: $11,937
- Compensation: $206,497
- Related: $0
- Other: $6,740
- Compensation: $206,795
- Related: $0
- Other: $2,035
Official website here: www.veic.org
Where can I find the form 990 for Vermont Energy Investment Corporation?
Vermont Energy Investment Corporation's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.veic.org
Learn more at the official website: www.veic.org
Mission Statement of Vermont Energy Investment Corporation
Vermont Energy Investment Corporation (VEIC) is a sustainable energy company on a mission to generate the energy solutions the world needs. For over 35 years, VEIC has been working with governments, utilities, foundations, and businesses across North America to develop and deploy clean energy services that provide immediate and lasting change. With expertise in energy efficiency, building and transportation electrification, and new approaches for a clean and flexible grid, VEIC brings innovative solutions to the market that meet sustainability goals and reduce greenhouse gas emissions.
VEIC is recognized nationally for developing pilots and programs that optimize energy use, reduce energy burdens for low-income customers, and advance new technologies. The company's dedication to clean energy is evident in its full-service consulting business and three large-scale sustainable energy programs: Efficiency Vermont, Efficiency Smart, and the DC Sustainable Energy Utility (DCSEU). Through these initiatives, VEIC is committed to creating a more efficient and sustainable energy future.
VEIC's mission goes beyond just generating energy solutions; it aims to make these solutions accessible and beneficial for all. By working with various stakeholders, VEIC is able to implement sustainable energy strategies that not only meet the needs of the present but also anticipate and address the challenges of the future. The company's innovative approach and commitment to clean energy make it a leader in the sustainable energy sector.
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Impact
October, 2024
Vermont Energy Investment Corporation (VEIC) significantly impacts sustainable energy practices by fostering an affordable and low-carbon energy landscape. Through initiatives like Efficiency Vermont, VEIC collaborates with various stakeholders to promote energy-efficient solutions across the state. Since its inception in 2000, Vermonters' investments in energy efficiency have resulted in projected savings of over $3 billion and prevented more than 13 million tons of CO2 emissions.
VEIC's 35-year commitment to enhancing energy systems extends to building and transportation electrification and creating a flexible grid that responds to contemporary energy demands. It introduces innovative programs and pilots that optimize energy usage and support low-income consumers, ensuring equitable access to clean energy.
Additionally, VEIC administers large-scale programs such as Efficiency Smart and the DC Sustainable Energy Utility (DCSEU), further amplifying its influence on energy efficiency and sustainability. By working with governments, utilities, and businesses across North America, VEIC not only addresses local energy needs but also contributes to national goals of greenhouse gas reduction and climate resilience.
This information is meant to be a general summary of Vermont Energy Investment Corporation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $722,987
- Program Service Revenue: $115,279,421
- Gross Receipts: $123,099,830
Assets and Liabilities:
- Total Assets: $52,044,292
- Total Liabilities: $25,193,109
- Net Assets: $26,851,183
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ENERGY EFFICENCY UTILITIES
Revenue
$102,279,432
ENERGY SERVICES: CONSULTING
Revenue
$11,256,546
PERFORMANCE INCENTIVE AWARDS
Revenue
$1,735,912
PROJECT REVENUE
Revenue
$7,531
Organization Details
Founding Year
1986
Phone
(800) 639-6069Principal Officer
Katherine Meyers
Main Address
20 WINOOSKI FALLS WAY 5TH FLOOR, WINOOSKI, VT, 05404
Website
www.veic.orgNTEE Category
Code: C350 - Environment
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