Overview
What is Prospect Silicon Valley?
Prospect Silicon Valley, based in San Jose, California, serves as a catalyst for sustainability and decarbonization in energy, transportation, and infrastructure. Through various projects, the organization works with partners to install EV charging stations, develop energy management platforms for large vehicles, and explore automated people counting technology. They also engage in procurement initiatives to promote clean energy solutions and advise on smart building technologies. The organization is committed to reducing carbon emissions and fostering progress in sustainable energy practices.
Official website here: www.prospectsv.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 48% (Zero-Star out of Four Star rating)
Prospect Silicon Valley has received a low rating of 48%, indicating significant concerns about its accountability and financial practices. The organization has an independent board with 83% of its members being independent, which is a positive aspect. However, critical issues arise from missing financial statements and key policies such as a whistleblower policy and document retention guidelines, leading to a zero score in these areas.
Despite these shortcomings, the organization has shown commitment to transparency by listing its website on the tax form and maintaining board meeting minutes. Its liabilities to assets ratio is commendable at 29.93%, reflecting a reasonable level of financial health. However, the program expense ratio of 50.14% has raised flags about the efficiency of its spending on program services compared to administrative costs.
In summary, while Prospect Silicon Valley demonstrates some strengths in governance and financial health, the lack of key documentation and policies significantly detracts from its overall rating. These are areas that need immediate attention to improve accountability and build trust with stakeholders.
This AI summary has been generated from information found on Charity Navigator.
Is Prospect Silicon Valley legitimate?
Prospect Silicon Valley is a legitimate nonprofit organization registered as a 501(c)(3) entity. Prospect Silicon Valley 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: $207,561
Professional Fundraising Fees: $0
Other Salaries and Wages: $386,802
For more financial information, click here
Official website here: www.prospectsv.org
What is the mission statement of Prospect Silicon Valley?
Prospect Silicon Valley's mission is centered around promoting progress in sustainability and decarbonization, specifically in the sectors of energy, transportation, and infrastructure. They achieve this through various initiatives, such as managing grants for the installation of electric vehicle charging stations in communities, developing guides for electric vehicle fleets, and leading projects to integrate energy management platforms for large vehicles. Additionally, they conduct market research to improve automated people counting technology and advance connected vehicle technology. Their activities also include assessing market needs for clean energy solutions and upgrading existing buildings to achieve near-zero energy utilization.
Official website here: www.prospectsv.org
Who is the CEO of Prospect Silicon Valley?
Douglas Davenport is the Executive Dir. of Prospect Silicon Valley.
Official website here: www.prospectsv.org
What is the revenue of Prospect Silicon Valley?
Prospect Silicon Valley's revenue in 2022 was $888,763.
Official website here: www.prospectsv.org
Who are the executives of Prospect Silicon Valley and what are their salaries?
The average compensation at Prospect Silicon Valley during 2022 was $74,295. There are 8 employees at Prospect Silicon Valley.
Here are 4 key members and their salaries:
- Compensation: $190,000
- Related: $0
- Other: $17,561
- Compensation: $131,100
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Official website here: www.prospectsv.org
Where can I find the form 990 for Prospect Silicon Valley?
Prospect Silicon Valley's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.prospectsv.org
Learn more at the official website: www.prospectsv.org
Mission Statement of Prospect Silicon Valley
Prospect Silicon Valley, a nonprofit organization, is dedicated to driving progress towards sustainability and decarbonization in the sectors of energy, transportation, and infrastructure. Their mission involves guiding various communities in planning and installing electric vehicle charging ports, promoting zero-emission vehicles. Through projects like the Bay Area Charge Ahead Project, they have installed charging stations in numerous locations across the Bay Area, assisting 17 Bay Area communities in the process. Prospect Silicon Valley also focuses on decarbonizing transportation, working with partners to develop energy management platforms for large vehicles, particularly battery electric transit buses. Additionally, the organization conducts market research studies to understand and improve automated people counting technology, aiming to enhance transit services across jurisdictions. In the realm of sustainable buildings, Prospect Silicon Valley leads procurement programs to bridge the gap between clean energy companies and institutional and commercial customers, ultimately promoting the adoption of distributed energy resource solutions.
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Impact
October, 2024
Prospect Silicon Valley significantly advances sustainability and decarbonization efforts across energy, transportation, and infrastructure sectors. A notable achievement includes managing the Bay Area Charge Ahead Project, which successfully installed 152 electric vehicle (EV) charging ports in 17 communities throughout the Bay Area. This initiative, funded by the California Energy Commission, involved partnerships with ChargePoint and ABM, enabling crucial infrastructure development in public parking areas.
ProspectSV has also played a pivotal role in enhancing the operational efficiency of electric vehicle fleets. By collaborating with the Lawrence Berkeley National Laboratory, the organization created a comprehensive energy management platform designed specifically for managing battery electric transit buses, marking a transformative step in smart charging across the US transit industry. Furthermore, the development of a guidebook, "Ready, Set, Charge, Fleets!", empowers organizations to prepare for mass EV deployment.
In the realm of advanced mobility, ProspectSV has conducted extensive market research and focus groups to address barriers to adopting automated people counting technology in transit vehicles. This work informs state-level decisions being made by Caltrans and fosters innovation in connected vehicle technologies.
The organization’s outreach also extends to next-generation buildings through the Empower Procurement Program, which connects clean energy companies with institutional buyers, and the MarketZero project aimed at transforming grocery stores into near-zero energy facilities. Through these efforts, ProspectSV actively supports the transition to sustainable practices and infrastructure in California, ensuring a broader and lasting impact on decarbonization initiatives.
This information is meant to be a general summary of Prospect Silicon Valley. 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: $100
- Program Service Revenue: $663,256
- Gross Receipts: $888,763
Assets and Liabilities:
- Total Assets: $610,362
- Total Liabilities: $316,206
- Net Assets: $294,156
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Program Support
Revenue
$660,756
StartUp Program
Revenue
$2,500
Organization Details
Founding Year
2009
Phone
(408) 337-2483Principal Officer
Douglas Davenport
Main Address
3031 Tisch Way 1018, San Jose, CA, 95128
Website
www.prospectsv.orgNTEE Category
Code: S31 - Community improvement
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