Overview
What is Iso New England Inc?
Iso New England Inc, headquartered in Holyoke, Massachusetts, is a renowned not-for-profit organization dedicated to ensuring the reliable supply of electricity throughout New England. By managing the region's wholesale electricity markets, the organization maintains the constant availability of competitively-priced electricity for its 15.1 million residents. Exercising operational authority over the bulk transmission facilities, Iso New England provides non-discriminatory, open-access transmission service. Their mission also includes administering and enhancing sustainable, competitive, and efficient energy markets in New England. With a workforce of 693 individuals, the corporation operates exclusively for charitable purposes, focusing on the reliability of the bulk power and transmission system and the provision of effective energy markets.
Official website here: www.iso-ne.com
What are the reviews and ratings of this charity?
Charity Navigator Rating: 81% (Three-Star out of Four Star rating)
Iso New England Inc has achieved an 81% score on Charity Navigator, reflecting a solid performance particularly in accountability and finance. This rating indicates that the organization maintains a strong commitment to transparency and responsible financial management. The score is solely based on accountability metrics, showcasing the nonprofit's dedication to maintaining an independent and well-governed board as well as sound financial practices.
The organization has a fully independent board, with all members meeting the standard for independence, and it scores high on aspects such as financial oversight and the absence of material diversions of assets. Additionally, it excels in program expense ratios, with nearly 90% of its budget allocated directly to its programs. This is a positive indicator of the organization’s focus on fulfilling its mission.
However, while Iso New England Inc demonstrates strengths in governance and financial responsibility, the rating does not encompass other dimensions of nonprofit performance such as program effectiveness or community impact. Thus, while it is recognized for its accountability, potential donors should consider seeking additional information about its overall effectiveness in achieving its mission.
This AI summary has been generated from information found on Charity Navigator.
Is Iso New England Inc legitimate?
Iso New England Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Iso New England Inc 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: $16,914,505
Professional Fundraising Fees: $0
Other Salaries and Wages: $90,279,092
For more financial information, click here
Official website here: www.iso-ne.com
What is the mission statement of Iso New England Inc?
Iso New England Inc is a charitable organization dedicated to ensuring the reliability of the bulk power and transmission system in the region. By exercising operational authority over the bulk transmission facilities, the corporation works to maintain system stability. Additionally, Iso New England Inc plays a key role in administering and enhancing sustainable, competitive, and efficient energy markets. Lastly, they provide non-discriminatory and open-access transmission service, allowing fair access for all users. The organization's ultimate goal is to keep the energy infrastructure functioning smoothly and effectively.
Official website here: www.iso-ne.com
Who is the CEO of Iso New England Inc?
Gordon Van Welie is the CEO of Iso New England Inc The CEO's salary of Iso New England Inc is $1,883,859 and their total compensation is $2,776,761.
Official website here: www.iso-ne.com
What is the revenue of Iso New England Inc?
Iso New England Inc's revenue in 2023 was $235,600,056.
Official website here: www.iso-ne.com
Who are the executives of Iso New England Inc and what are their salaries?
The average compensation at Iso New England Inc during 2023 was $152,048. There are 705 employees at Iso New England Inc.
Here are 36 key members and their salaries (Iso New England Inc's CEO's salary is $1,883,859 and their total compensation is $2,776,761):
- Compensation: $165,750
- Related: $0
- Other: $0
- Compensation: $146,750
- Related: $0
- Other: $0
- Compensation: $149,250
- Related: $0
- Other: $0
- Compensation: $140,250
- Related: $0
- Other: $0
- Compensation: $151,000
- Related: $0
- Other: $0
- Compensation: $99,250
- Related: $0
- Other: $0
- Compensation: $135,750
- Related: $0
- Other: $0
- Compensation: $47,250
- Related: $0
- Other: $0
- Compensation: $141,500
- Related: $0
- Other: $0
- Compensation: $137,750
- Related: $0
- Other: $0
- Compensation: $1,883,859
- Related: $0
- Other: $892,902
- Compensation: $1,449,836
- Related: $0
- Other: $756,020
- Compensation: $782,546
- Related: $0
- Other: $360,284
- Compensation: $689,186
- Related: $0
- Other: $139,626
- Compensation: $702,339
- Related: $0
- Other: $346,140
- Compensation: $456,319
- Related: $0
- Other: $194,424
- Compensation: $535,608
- Related: $0
- Other: $280,093
- Compensation: $539,504
- Related: $0
- Other: $253,320
- Compensation: $619,544
- Related: $0
- Other: $275,366
- Compensation: $115,931
- Related: $0
- Other: $100,362
- Compensation: $656,988
- Related: $0
- Other: $224,835
- Compensation: $424,942
- Related: $0
- Other: $266,937
- Compensation: $341,165
- Related: $0
- Other: $242,693
- Compensation: $376,660
- Related: $0
- Other: $150,424
- Compensation: $361,558
- Related: $0
- Other: $191,650
- Compensation: $335,902
- Related: $0
- Other: $183,544
- Compensation: $294,809
- Related: $0
- Other: $133,292
- Compensation: $321,405
- Related: $0
- Other: $265,681
- Compensation: $286,531
- Related: $0
- Other: $127,511
- Compensation: $388,661
- Related: $0
- Other: $37,550
- Compensation: $321,316
- Related: $0
- Other: $108,497
- Compensation: $330,233
- Related: $0
- Other: $228,138
- Compensation: $475,128
- Related: $0
- Other: $64,625
- Compensation: $334,058
- Related: $0
- Other: $152,004
- Compensation: $359,620
- Related: $0
- Other: $57,690
- Compensation: $334,542
- Related: $0
- Other: $38,517
Official website here: www.iso-ne.com
Where can I find the form 990 for Iso New England Inc?
Iso New England Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.iso-ne.com
Learn more at the official website: www.iso-ne.com
Mission Statement of Iso New England Inc
Iso New England Inc, a charitable organization, is dedicated to ensuring the reliability of the bulk power and transmission system in New England. To accomplish this, the corporation holds operational authority over the bulk transmission facilities. Additionally, Iso New England Inc plays a significant role in the administration and enhancement of sustainable, competitive, and efficient energy markets. By providing non-discriminatory, open-access transmission service, the organization enables a level playing field for all market participants.
The primary objective of Iso New England Inc is to maintain the reliability of the New England power grid. To achieve this, the corporation assumes operational control over the region's bulk transmission infrastructure. By exercising this authority, Iso New England Inc can ensure that power flows efficiently and effectively throughout the grid, minimizing disruptions and blackouts for consumers.
Furthermore, Iso New England Inc is committed to optimizing energy markets in New England. The organization seeks to create a competitive, sustainable, and efficient energy marketplace. By providing open-access transmission services, the corporation ensures equal access to the grid for all market participants, ultimately driving innovation and competition in the industry. This, in turn, leads to better energy solutions for consumers and the environment.
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Impact
October, 2024
Iso New England Inc. plays a vital role in maintaining the reliability and efficiency of the electricity supply for over 15 million residents in the New England region. By exercising operational authority over the bulk power and transmission systems, it ensures that electricity is available and delivered consistently, which is crucial for both residential and commercial energy needs.
Through its management of wholesale electricity markets, Iso New England Inc. promotes competitive pricing, thereby safeguarding consumers' interests and fostering sustainable energy practices. In 2022 alone, it facilitated more than $13.7 billion in market transactions, showcasing its significant impact on the region's economy and energy landscape.
Additionally, the organization is dedicated to enhancing energy market efficiency and sustainability, while also ensuring that transmission services are non-discriminatory and open-access. This commitment not only supports a fair energy marketplace but also contributes to environmental goals by promoting the use of renewable energy sources.
Overall, Iso New England Inc. serves as a cornerstone of the region's energy infrastructure, balancing the complexities of energy supply and market dynamics while striving for a sustainable future.
This information is meant to be a general summary of Iso New England Inc. 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: $1,793,188
- Program Service Revenue: $233,806,868
- Gross Receipts: $235,600,056
Assets and Liabilities:
- Total Assets: $732,557,047
- Total Liabilities: $732,557,047
- Net Assets: $0
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
ENERGY ADMIN. SERVICES
Revenue
$115,863,821
RELIABILITY ADMIN. SVC
Revenue
$70,415,864
SCH. SYS. CONT. & DISP
Revenue
$47,527,183
Organization Details
Founding Year
1997
Phone
(413) 535-4000Principal Officer
Gordon Van Welie
Main Address
ONE SULLIVAN ROAD, HOLYOKE, MA, 01040
Website
www.iso-ne.comNTEE Category
Code: C35 - Environment
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