Cause IQ organization profile

Vermont Energy Investment Corporation (VEIC)

Program areas | Form 990s | Financials | Vendors | Personnel | Peers

VEIC is a energy conservation organization based in Burlington, VT that was founded in 1986. As of 2019 they had $87 million in revenue and $22 million in assets.

The Vermont Energy Investment Corporation's mission is reducing the economic and environmental costs of energy consumption through cost-effective energy efficiency and renewable technologies.

EIN:
03-0304418
City:
State:
Website:
Phone:
(802) 658-6060
Facebook:
Twitter:
Founded:
1986
Type:
501(c)(3)
NTEE:
Revenue:
$87,429,577
Assets:
$22,684,853
Employees:
310
Fiscal year end:
December
Revenue trends:
Asset trends:

Program areas at VEIC

Efficiency Vermont provides vermonters with objective guidance and incentives to improve the affordability and comfort of their homes, businesses, institutions, and communities through Energy efficiency. In 2018 efficiency Vermont worked with more than 109,000 vermonters, who will save $220.7 million over the lifetime of their 2018 investments in efficiency equipment and buildings. Efficiency Vermont is operated pursuant to an order of appointment from the Vermont public utility commission that expires on december 31, 2026, and represented approximately 67% of total veic revenues in 2018.

Efficiency smart is an Energy efficiency program that assists individuals and businesses in lowering their power bills by providing technical assistance and financial incentives for equipment and systems that improve electrical efficiency. In 2018 efficiency smart served 58 of american municipal power's member utilities in four states-reaching 14,378 residential households and 164 businesses who will save an aggregate of $6.3 million over the lifetime of their 2018 investments. Efficiency smart is operated through a contract with american municipal power for the period of january 1, 2017 through december 31, 2019 and represented approximately 3% of total veic revenues in 2018.

The dc sustainable Energy utility (dcseu) helps district residents and businesses use less Energy and save money, and is the only utility in the country that combines Energy savings goals with social equity goals. In its 2018 fiscal year, the dcseu helped dc residents and businesses save enough electricity to power 15,000 homes for an entire year, and created more than $187 million in lifetime Energy cost savings for ratepayers. The dcseu invested more than $4 million on Energy efficiency projects in low-income communities, created more than 85 full-time equivalent jobs for residents at dc's living wage, and prevented more than 1.2 million tons of lifetime carbon emissions. The dcseu program is conducted through a contract with the department of Energy and environment for the period of april 5, 2017 through september 30, 2021 and represented approximately 23% of total veic revenues in 2018.

Form 990s for VEIC

Fiscal year endingDate received by IRSFormPDF link
2018-12Feb 18, 2020990View PDF
2017-12Feb 21, 2019990View PDF
2016-12Dec 20, 2017990View PDF
2015-12Jan 23, 2017990View PDF
2014-12Aug 21, 2015990View PDF
...and six more Form 990 PDFs

Financials for VEIC

Field2018
Total grants, contributions, etc.$0
Program services$87,335,778
Investment income and dividends$93,799
Tax-exempt bond proceeds$0
Royalty revenue$0
Net rental income$0
Net gain from sale of non-inventory assets$0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous revenues$0
Total revenues$87,429,577

Vendors for VEIC

VendorServicesAmount paidDate
Gallagher Flynn and Company LLPTax accounting2020-02-18
██████ ██████████ ████████████Customer Incentive Processor$2,5732020-02-18
████████ █████████ ██████ ███Energy Efficiency Consultant$6,5912020-02-18
████ ███████████ ██Temp Staffing Agency$4,9892020-02-18
███████ ██████Education and Training$3,3552020-02-18
███████ █████ ███ ███████Audit accounting2019-12-31
██████ ███████ ████Insurance2019-12-31
████████ ████████ ███Insurance agent or broker$2,1242019-12-31
...and eight more vendors

Personnel at VEIC

NameTitleCompensationMost recent data
Rebecca FosterInterim Veic Chief Executive Officer and Director , Efficiency Vermont$145,575Aug. 23, 2020
Scott ComeauChief Financial Officer$178,080Aug. 23, 2020
█████ █████████████General Manager, Mid - Atlantic Region-Aug. 10, 2019
██████ ███████Director , Finance$145,769Dec. 31, 2018
█████ ████████Director , Financing Strategies$145,435Dec. 31, 2018
█████ █████Director , Marketing , Business Development , and Policy-Aug. 23, 2020
██████ ███ ███ █████Director , Data and Technical Services / Merwe Director , Data and Technology-Aug. 23, 2020
█████ ███████Director, Human Resources$159,319Dec. 31, 2017
████ ██████Director , People and Culture-Aug. 23, 2020
█████ █████Director of Distributed Utilities$162,625Dec. 31, 2018
...and 19 more key personnel

Peer energy conservation and development organizations

 NameTypeRevenueLocation
1District Energy St Paul501(c)(3)$38 millionSt Paul, MN
2Elevate Energy501(c)(3)$24 millionChicago, IL
3U S Green Building Council (USGBC)501(c)(3)$39 millionWashington, DC
4The Reinvestment Fund (TRF)501(c)(3)$53 millionPhiladelphia, PA
5Center for American Progress (CAP)501(c)(3)$44 millionWashington, DC
6Oak Ridge Associated Universities (ORAU)501(c)(3)$94 millionOak Ridge, TN
7Northwest Energy Efficiency Alliance501(c)(3)$38 millionPortland, OR
8Energy Federation501(c)(4)$25 millionSouthborough, MA
9Environmental Defense Fund (EDF)501(c)(3)$210 millionNew York, NY
10Dollar Energy Fund501(c)(3)$33 millionPittsburgh, PA
11Wilderness Society501(c)(3)$42 millionWashington, DC
12Southern Environmental Law Center (SELC)501(c)(3)$60 millionCharlottesville, VA
13Grid Alternatives Affiliates and Subsidiaries501(c)(3)$36 millionOakland, CA
14Thermal Energy Corporation (TECO)501(c)(3)$63 millionHouston, TX
15Green Building Certification Institute (GBCI)501(c)(6)$47 millionWashington, DC
16Growth Energy501(c)(6)$24 millionWashington, DC
17Clinton Foundation501(c)(3)$30 millionLittle Rock, AR
18MRIGlobal501(c)(3)$109 millionKansas City, MO
19Acumen Fund501(c)(3)$34 millionNew York, NY
20Ecology Action of Santa Cruz501(c)(3)$33 millionSanta Cruz, CA
21Texas Association of School Boards501(c)(3)$71 millionAustin, TX
22Union of Concerned Scientists (UCS)501(c)(3)$39 millionCambridge, MA
23Alliance for Sustainable Energy501(c)(3)$411 millionGolden, CO
24The Partnership Project501(c)(3)$23 millionWashington, DC
25ISO New England (ISO-NE)501(c)(3)$194 millionHolyoke, MA