Overview
What is National Wind Technology Consortium Inc?
The National Wind Technology Consortium Inc is a nonprofit organization based in Albany, New York, focusing on supporting scientific research in the public interest. They collaborate on prioritized activities to reduce the cost of energy for offshore wind in the U.S. Their mission is to deliver technical solutions that reduce the Levelized Cost of Energy (LCOE) for U.S. offshore wind plants and increase opportunities for U.S. manufacturing. By doing so, they aim to maximize economic and social benefits for the public through innovations that overcome technical and supply chain barriers, and build strong networks. The organization is nationally focused, working to sustain American leadership in offshore wind development. They achieve this by securing support from private and public sources, employing a market-pull approach.
Official website here: www.nationaloffshorewind.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 84% - Three-Star out of Four Star rating
The National Wind Technology Consortium Inc has earned a Three-Star rating from Charity Navigator, reflecting a solid commitment to accountability and finance. With an overall score of 84%, the organization demonstrates transparency and effective financial management, which are critical for building trust with donors and stakeholders.
One of the notable strengths of the organization is its governance structure, characterized by 100% independent board members, ensuring that decisions are made without conflicts of interest. Additionally, the organization has a high program expense ratio of 92.80%, indicating that a significant portion of its resources is directed towards its mission rather than administrative costs.
While the organization scores well in various financial metrics, it is important for potential donors to consider the impact of its programs and how effectively they are achieving their mission. Overall, the National Wind Technology Consortium Inc appears to be a responsible organization with strong financial practices, but ongoing evaluation of its program effectiveness would be beneficial for a comprehensive understanding of its impact.
This AI summary has been generated from information found on Charity Navigator.
Is National Wind Technology Consortium Inc legitimate?
National Wind Technology Consortium Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. National Wind Technology Consortium 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: $273,240
Professional Fundraising Fees: $0
Other Salaries and Wages: $705,895
For more financial information, click here
Official website here: www.nationaloffshorewind.org
What is the mission statement of National Wind Technology Consortium Inc?
The National Wind Technology Consortium Inc is a nationally focused organization, dedicated to supporting scientific research in the public interest. Its primary mission is to collaborate on prioritized activities aimed at reducing the cost of energy for offshore wind in the United States, while maximizing economic and social benefits for the public. This is achieved through innovations that reduce technical and supply chain barriers and build strong networks. The Consortium works towards delivering technical solutions to decrease the Levelized Cost of Energy (LCOE) for U.S. offshore wind plants and increase opportunities for U.S. manufacturing, by securing support from both private and public sources and utilizing a market-pull approach. The Consortium prioritizes research directly applicable to the technical barriers that offshore wind and transmission developers, Original Equipment Manufacturers (OEMs), and supply chain partners face.
Official website here: www.nationaloffshorewind.org
What is the revenue of National Wind Technology Consortium Inc?
National Wind Technology Consortium Inc's revenue in 2023 was $7,199,798.
Official website here: www.nationaloffshorewind.org
Who are the executives of National Wind Technology Consortium Inc and what are their salaries?
The average compensation at National Wind Technology Consortium Inc during 2023 was $163,189. There are 6 employees and 30 volunteers at National Wind Technology Consortium Inc.
Here are 32 key members and their salaries:
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Official website here: www.nationaloffshorewind.org
Where can I find the form 990 for National Wind Technology Consortium Inc?
National Wind Technology Consortium Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.nationaloffshorewind.org
Learn more at the official website: www.nationaloffshorewind.org
Mission Statement of National Wind Technology Consortium Inc
The National Wind Technology Consortium Inc is a nationally focused organization dedicated to supporting scientific research in the public interest. Its mission is to collaborate on prioritized activities, with the aim of reducing the cost of energy for offshore wind in the United States while maximizing economic and social benefits for the public. By doing so, the Consortium seeks to reduce technical and supply chain barriers and build strong networks.
The Consortium works towards building support from both private and public sources to chart a path that will sustain American leadership in offshore wind development. This is achieved through the utilization of a market-pull approach. The Consortium prioritizes research directly applicable to the technical barriers that offshore wind and transmission developers, Original Equipment Manufacturers (OEMs), and supply chain partners face. The ultimate goal is to deliver technical solutions to reduce the Levelized Cost of Energy (LCOE) for U.S. offshore wind plants and increase opportunities for U.S. manufacturing. In other words, the National Wind Technology Consortium Inc is a driving force in the pursuit of affordable, homegrown offshore wind energy solutions.
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Impact
June, 2024
National Wind Technology Consortium Inc's impact is focused on supporting scientific research in the public interest to reduce the cost of energy of offshore wind in the US. By collaborating on prioritized activities, the consortium aims to sustain American leadership in offshore wind development by addressing technical barriers faced by developers, OEMs, and supply chain partners. Through its work, the consortium is delivering technical solutions to reduce the Levelized Cost of Energy (LCOE) for US offshore wind plants and increase opportunities for US manufacturing. This effort not only benefits the environment but also maximizes economic and social benefits for the public through innovative solutions and building strong networks.
This information is meant to be a general summary of National Wind Technology Consortium 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.
- Gross Receipts: $7,199,798
Assets and Liabilities:
- Total Assets: $2,567,833
- Total Liabilities: $1,680,083
- Net Assets: $887,750
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Organization Details
Founding Year
2018
Principal Officer
Lyndie Hice-Dunton
Website
www.nationaloffshorewind.orgNTEE Category
Code: C35 - Environment
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