Overview
What is Citizens Energy Corporation?
Citizens Energy Corporation is a not-for-profit organization based in Boston, Massachusetts. Its primary mission is to provide affordable energy services to low-income families in the United States. Established in 1979, the corporation has generated revenue from commercial enterprises and channeled it into charitable programs, both domestically and internationally. In particular, they have aided the elderly and poor in Massachusetts, lowered prescription drug costs, implemented solar heating projects in Jamaica and Venezuela, and lately, they have been providing low-cost solar electricity to low-income families through community solar projects. Additionally, their 39-megawatt low-income community solar project, Citizens Imperial Solar, LLC, commissioned in 2019, offers deeply discounted electricity credits to approximately 14,500 low-income ratepayers in the Imperial Irrigation District, saving them approximately $4.2 million per year. With a workforce of 28 employees, Citizens Energy Corporation works tirelessly to make life's basic needs more accessible and affordable.
Official website here: www.citizensenergy.com
Is Citizens Energy Corporation legitimate?
Citizens Energy Corporation is a legitimate nonprofit organization registered as a 501(c)(4) entity. Citizens Energy 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: $172,943
Professional Fundraising Fees: $0
Other Salaries and Wages: $535,572
For more financial information, click here
Official website here: www.citizensenergy.com
What is the mission statement of Citizens Energy Corporation?
Citizens Energy Corporation's mission is centered around providing affordable energy services to low-income families in the United States. The corporation achieves this by engaging in successful energy projects and utilizing the profits to fund assistance programs. The organization's aim is to make life's basic needs more accessible and affordable. With its roots dating back to 1979, Citizens Energy Corporation has generated substantial revenue from commercial enterprises, subsequently channeling hundreds of millions of dollars into charitable programs both domestically and internationally. The corporation has initiated various social ventures, such as providing discounted electricity credits to low-income families and funding solar heating projects in countries like Jamaica and Venezuela. In the Imperial Irrigation District (IID) in the United States, Citizens Energy Corporation's initiatives have resulted in approximately $4.2 million in electricity savings annually for struggling ratepayers.
Official website here: www.citizensenergy.com
Who is the CEO of Citizens Energy Corporation?
Peter F Smith is the Ceo of Citizens Energy Corporation. The CEO's salary of Citizens Energy Corporation is $20,784 and their total compensation is $157,765.
Official website here: www.citizensenergy.com
What is the revenue of Citizens Energy Corporation?
Citizens Energy Corporation's revenue in 2022 was $1,841,369.
Official website here: www.citizensenergy.com
Who are the executives of Citizens Energy Corporation and what are their salaries?
The average compensation at Citizens Energy Corporation during 2022 was $25,304. There are 28 employees and 3 volunteers at Citizens Energy Corporation.
Here are 11 key members and their salaries (Citizens Energy Corporation's CEO's salary is $20,784 and their total compensation is $157,765):
- Compensation: $0
- Related: $396,539
- Other: $27,509
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $2,000
- Related: $0
- Other: $0
- Compensation: $84,971
- Related: $743,517
- Other: $303,419
- Compensation: $67,801
- Related: $534,965
- Other: $51,031
- Compensation: $38,299
- Related: $239,897
- Other: $47,552
- Compensation: $80,734
- Related: $160,734
- Other: $37,238
- Compensation: $152,656
- Related: $0
- Other: $33,941
- Compensation: $20,784
- Related: $107,352
- Other: $29,629
- Compensation: $0
- Related: $143,813
- Other: $0
Official website here: www.citizensenergy.com
Where can I find the form 990 for Citizens Energy Corporation?
Citizens Energy Corporation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.citizensenergy.com
Learn more at the official website: www.citizensenergy.com
Mission Statement of Citizens Energy Corporation
Citizens Energy Corporation, a renowned organization, is dedicated to providing affordable and essential energy services to low-income families in the United States. It achieves this mission by successfully developing energy projects and utilizing the profits to fund various assistance programs. The corporation's primary objective is to make life's basic necessities more accessible for those in need.
Citizens Energy Corporation's journey began in 1979 with oil-trading ventures in Latin America and Africa. Leveraging the revenues generated from these commercial enterprises, the corporation has channeled hundreds of millions of dollars into charitable programs, not only in the United States but also internationally. The organization has demonstrated its commitment to social causes by providing deeply discounted electricity credits to approximately 14,500 low-income ratepayers in the Imperial Irrigation District (IID) through its 39-megawatt low-income community solar project, Citizens Imperial Solar, LLC, commissioned in 2019. This initiative results in annual electricity savings of approximately $4.2 million for needy ratepayers struggling to cope with the region's scorching temperatures.
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Impact
October, 2024
Citizens Energy Corporation plays a significant role in enhancing energy accessibility and affordability for low-income families across the United States. By developing innovative energy projects, the organization channels profits from its various commercial ventures into programs that provide essential support to disadvantaged communities.
One notable initiative is the Citizens Imperial Solar project, which offers deeply discounted electricity credits to approximately 14,500 low-income ratepayers in the Imperial Irrigation District. This 39-megawatt community solar project has resulted in around $4.2 million in electricity savings annually for families grappling with high energy costs, particularly in extreme heat conditions.
Beyond solar energy, Citizens Energy’s efforts extend to various charitable programs, including lowering prescription drug costs for millions of Americans and initiating solar heating projects in countries such as Jamaica and Venezuela. Since its inception in 1979, the organization has utilized revenues from its operations in oil trading and energy projects to contribute hundreds of millions of dollars to these beneficial programs.
Through its comprehensive commitment to social ventures, Citizens Energy Corporation not only provides essential services to those in need but also addresses broader challenges related to energy inequity and economic hardship, thereby making a lasting impact on communities.
This information is meant to be a general summary of Citizens Energy 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 2022.
- Investment Income: -$172,988
- Gross Receipts: $3,877,247
Assets and Liabilities:
- Total Assets: $112,380,570
- Total Liabilities: $1,067,322
- Net Assets: $111,313,248
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Organization Details
Founding Year
1979
Phone
(617) 338-6300Principal Officer
Peter F Smith
Main Address
2 SEAPORT LANE 5C, BOSTON, MA, 02210
Website
www.citizensenergy.comNTEE Category
Code: W80 - Public benefit
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