Nonprofit · EIN 03-0304418
VERMONT ENERGY INVESTMENT CORP
Tax-exempt · WINOOSKI, VT 05404
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $130,939,426 | $131,141,340 | -$201,914 | $53,392,034 | $24,668,245 | $28,723,789 |
| December 31, 2023 | 990 | $123,099,830 | $121,025,310 | $2,074,520 | $52,913,819 | $23,988,116 | $28,925,703 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $9,594,192
- of which government grants
- $9,594,192
- Program service revenue
- $120,619,050
- Investment income
- $726,184
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $8,524,334
- Compensation of officers, directors and key employees
- $1,841,232
- Other salaries and wages
- $38,924,053
- Salaries, compensation and benefits (total)
- $49,536,021
- Professional fundraising fees
- $0
- Legal fees
- $100,868
- Accounting fees
- $87,400
- Occupancy
- $2,049,915
- Travel
- $610,961
- Depreciation
- $558,333
- Program services (functional)
- $124,497,870
- Management and general (functional)
- $6,643,470
Balance sheet and other
- Total assets, start of year
- $52,913,819
- Total assets, end of year
- $53,392,034
- Total liabilities, end of year
- $24,668,245
- Net assets, end of year
- $28,723,789
- Land, buildings and equipment
- $2,166,299
- Net assets without donor restrictions
- $28,723,789
- Gross receipts
- $130,939,426
- Employees
- 426
- Volunteers
- 0
- Year formed
- 1986
- State of legal domicile
- VT
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| REBECCA FOSTER | CHIEF EXECUTIVE OFFICER Officer | 37.5 | $372,517 | $40,677 |
| KATHERINE MEYERS | CHIEF FINANCIAL OFFICER Officer | 37.5 | $274,920 | $14,143 |
| LISA HARRIS | CHIEF PEOPLE OFFICER Highest-paid employee | 37.5 | $266,073 | $22,500 |
| PIERRE VAN DER MERWE | CHIEF TECHNOLOGY OFFICER Highest-paid employee | 37.5 | $248,730 | $34,604 |
| LOUIS HUTCHINSON | COO THROUGH NOV. 2024 Key employee | 37.5 | $249,507 | $21,578 |
| BRIAN KEALOHA | CHIEF GROWTH AND IMPACT OFFICER Highest-paid employee | 37.5 | $253,635 | $7,659 |
| MATTHEW DOOLEY | MAN. DIR., EN SERV/INT. COO A/O NOV Highest-paid employee | 37.5 | $243,190 | $13,032 |
| ANGELA JOHNSON | DIRECTOR, FINANCE, DCSEU Highest-paid employee | 37.5 | $204,658 | $18,621 |
| PETER WALKE | MANAGING DIRECTOR, EFFICIENCY VT Key employee | 37.5 | $190,505 | $14,403 |
| BEN BURDICK | INTERIM MANAGING DIRECTOR, DCSEU Key employee | 37.5 | $191,569 | $9,706 |
| STEPHANIE PHILLIPS | CHIEF GENERAL COUNSEL Officer | 37.5 | $186,999 | $10,205 |
| ERNEST JOLLY | MAN. DIR., DCSEU THROUGH SEP. 2024 Key employee | 37.5 | $160,993 | $3,012 |
| ELLEN ZUCKERMAN | CHAIR Trustee or director, Officer | 1 | $3,750 | $0 |
| OSWALDO ACOSTA | TREASURER Trustee or director, Officer | 1 | $3,000 | $0 |
| NANCY OWENS | VICE CHAIR Trustee or director, Officer | 1 | $2,750 | $0 |
9 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| DIANNE DILLON-RIDGLEY | DIRECTOR Trustee or director | 1 | $2,000 |
| VINCENT VALDES | DIRECTOR Trustee or director | 1 | $2,000 |
| NICK RICHARDSON | DIRECTOR Trustee or director | 1 | $2,000 |
| CEDERICK ANTHONY PICKETT | SECRETARY Trustee or director, Officer | 1 | $2,000 |
| DALE BRYK | DIRECTOR Trustee or director | 1 | $2,000 |
| JACOB PARK | DIRECTOR Trustee or director | 1 | $2,000 |
| BRANDI COLANDER | DIRECTOR THROUGH SEP. 2024 Trustee or director | 1 | $1,500 |
| JANET BESSER | DIRECTOR Trustee or director | 1 | $0 |
| MERRIAN BORGESON | DIRECTOR Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 24 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| REBECCA FOSTER | CHIEF EXECUTIVE OFFICER Officer | 37.5 | $315,599 | $14,670 |
| ERNEST JOLLY | MANAGING DIRECTOR, DCSEU Key employee | 37.5 | $228,997 | $2,254 |
| MATTHEW DOOLEY | MANAGING DIRECTOR, ENERGY SERVICES Highest-paid employee | 37.5 | $210,434 | $9,454 |
| LISA HARRIS | CHIEF PEOPLE OFFICER Highest-paid employee | 37.5 | $206,497 | $6,740 |
| KATHERINE MEYERS | CHIEF FINANCIAL OFFICER Officer | 37.5 | $200,641 | $9,850 |
| BRIAN KEALOHA | CHIEF GROWTH AND IMPACT OFFICER Highest-paid employee | 37.5 | $206,795 | $2,035 |
| PIERRE VAN DER MERWE | CHIEF TECHNOLOGY OFFICER Highest-paid employee | 37.5 | $187,385 | $11,937 |
| ANGELA JOHNSON | DIRECTOR, FINANCE, DCSEU Highest-paid employee | 37.5 | $186,090 | $9,579 |
| LOUIS HUTCHINSON | CHIEF OPERATING OFFICER Key employee | 37.5 | $190,988 | $1,933 |
| STEPHANIE PHILLIPS | CHIEF GENERAL COUNSEL Officer | 37.5 | $178,144 | $8,690 |
| PETER WALKE | MANAGING DIRECTOR, EFFICIENCY VT Key employee | 37.5 | $183,180 | $3,311 |
| NANCY OWENS | VICE CHAIR Trustee or director, Officer | 1 | $4,250 | $0 |
| OSWALDO ACOSTA | TREASURER Trustee or director, Officer | 1 | $3,000 | $0 |
| ELLEN ZUCKERMAN | CHAIR Trustee or director, Officer | 1 | $2,500 | $0 |
| BRANDI COLANDER | DIRECTOR Trustee or director | 1 | $2,500 | $0 |
| DIANNE DILLON-RIDGLEY | DIRECTOR Trustee or director | 1 | $2,000 | $0 |
| ISABELINA NAHMENS | DIRECTOR Trustee or director | 1 | $2,000 | $0 |
| CEDERICK ANTHONY PICKETT | DIRECTOR Trustee or director | 1 | $2,000 | $0 |
| MERRIAN BORGESON | DIRECTOR Trustee or director | 1 | $2,000 | $0 |
| MARC MIHALY | DIRECTOR Trustee or director | 1 | $1,500 | $0 |
| DALE BRYK | DIRECTOR Trustee or director | 1 | $1,000 | $0 |
| JACOB PARK | DIRECTOR Trustee or director | 1 | $1,000 | $0 |
| JANET BESSER | DIRECTOR Trustee or director | 1 | $0 | $0 |
| TONY PICKETT | SECRETARY Trustee or director, Officer | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 20 WINOOSKI FALLSWAY 5TH, WINOOSKI, VT 05404-0000
- Principal officer (990 for 2024)
- KATHERINE MEYERS, 20 WINOOSKI FALLS WAY 5TH FLOOR, WINOOSKI, VT 05404
- Signed the 990
- KATHERINE MEYERS, CFO
- Phone
- (800) 639-6069
- Website
- WWW.VEIC.ORG
- Return prepared by
- GALLAGHER FLYNN & COMPANY LLP
Mission
VEIC IS A SUSTAINABLE ENERGY COMPANY ON A MISSION TO GENERATE THE ENERGY SOLUTIONS THE WORLD NEEDS (CONTINUES IN SCHEDULE O). (CONTINUED), WORKING TO COMBAT THE CLIMATE CRISIS, BOOST COMMUNITY RESILIENCE, AND LOWER ENERGY COSTS. FOR NEARLY 40 YEARS VEIC HAS BEEN WORKING WITH GOVERNMENTS, UTILITIES, FOUNDATIONS AND BUSINESSES ACROSS NORTH AMERICA TO DEVELOP AND DEPLOY CLEAN ENERGY SERVICES THAT PROVIDE IMMEDIATE AND LASTING CHANGE. WITH EXPERTISE IN DECARBONIZATION PLANNING, PROGRAM AND FLEET SOLUTIONS, MARKETING & EDUCATION, AND NEW APPROACHES TO PILOTS AND FEDERAL FUNDING SOLUTIONS, VEIC BRINGS INNOVATIVE IDEAS TO THE MARKET THAT MEET GOALS AND REDUCE GHG. IN ADDITION TO OUR FULL-SERVICE CONSULTING BUSINESS, VEIC ADMINISTERS THREE LARGE-SCALE SUSTAINABLE ENERGY PROGRAMS: EFFICIENCY VERMONT, EFFICIENCY SMART, AND THE DC SUSTAINABLE ENERGY UTILITY (DCSEU).
Program accomplishments
- EFFICIENCY VERMONT WORKS WITH PARTNERS TO HELP THE STATE TRANSITION TO MORE AFFORDABLE, LOW CARBON ENERGY USE THROUGH EDUCATION, INCENTIVES, AND SUPPORT FOR OUR CLEAN ENERGY WORKFORCE. THE INVESTMENTS THAT VERMONTERS HAVE MADE IN ENERGY EFFICIENCY SINCE EFFICIENCY VERMONT'S INCEPTION IN 2000 WILL SAVE OVER $3.5 BILLION OVER THE LIFETIME OF THOSE INVESTMENTS, AND AVOID OVER 14.5 MILLION TONS OF CO2E.Expenses $68,575,392 · revenue $71,176,014
- THE DC SUSTAINABLE ENERGY UTILITY (DCSEU) IS THE ONLY UTILITY IN THE COUNTRY THAT COMBINES ENERGY SAVINGS GOALS WITH SOCIAL EQUITY GOALS. SINCE 2011, THE DCSEU HAS HELPED DISTRICT RESIDENTS, BUSINESSES, AND INSTITUTIONS GENERATE MORE THAN $1.4 BILLION IN LIFETIME ENERGY COST SAVINGS AND PREVENT MORE THAN 7 MILLION TONS OF GREENHOUSE GAS EMISSIONS. THE DCSEU HAS INVESTED MORE THAN $60 MILLION IN ENERGY EFFICIENCY AND RENEWABLE ENERGY PROJECTS IN LOW-INCOME COMMUNITIES. OUR WORK IS BUILDING A BRIGHTER ECONOMIC, ENVIRONMENTAL, AND ENERGY FUTURE FOR THE DISTRICT (CONTINUES IN SCHEDULE O).(CONTINUED) IN 2024, THE DCSEU'S EFFORTS GENERATED $333 MILLION IN LIFETIME COST SAVINGS FOR DC RESIDENTS AND BUSINESSES, CREATED 90 GREEN JOBS FOR DISTRICT RESIDENTS, AND PREVENTED 1.08 MILLION MTCO2E IN LIFETIME GREENHOUSE GAS EMISSIONS, THE EQUIVALENT OF 77 MILLION GALLONS OF GASOLINE CONSUMED.Expenses $32,617,626 · revenue $33,925,882
- EFFICIENCY SMART HELPS PARTICIPATING MUNICIPAL ELECTRIC UTILITIES AND THEIR CUSTOMERS REDUCE THEIR ENERGY USE AND SAVE MONEY THROUGH TECHNICAL ASSISTANCE AND FINANCIAL INCENTIVES. SINCE 2011, EFFICIENCY SMART HAS SERVED MORE THAN 65 OF AMERICAN MUNICIPAL POWER'S MEMBER UTILITIES IN FOUR STATES. IN 2024, EFFICIENCY SMART ASSISTED AN ESTIMATED 1,332 RESIDENTIAL HOUSEHOLDS AND 178 BUSINESSES. THESE CUSTOMERS WILL REALIZE MORE THAN $19.5 MILLION IN SAVINGS OVER THE LIFETIME OF THE PRODUCTS THEY INSTALLED. IN ADDITION, PARTICIPATING MUNICIPAL ELECTRIC UTILITIES WILL SAVE NEARLY $11.5 MILLION IN ENERGY, CAPACITY, AND TRANSMISSION COSTS.Expenses $3,029,552 · revenue $3,268,400
- VEIC PROVIDES NATIONAL AND INTERNATIONAL CONSULTING SERVICES TO UTILITIES, BUSINESSES, GOVERNMENT AGENCIES, MUNICIPALITIES, AND FOUNDATIONS. WE WORK WITH OUR CLIENTS TO DECARBONIZE THEIR ENERGY SYSTEMS THROUGH OUR FOUR CORE SERVICES: ENERGY EFFICIENCY, BUILDING DECARBONIZATION, TRANSPORTATION ELECTRIFICATION, AND MAKING ELECTRICITY GRIDS CLEAN AND FLEXIBLE. WE HELP OUR CLIENTS SAVE ENERGY, REDUCE GREENHOUSE GAS EMISSIONS, AND ADVANCE SOCIAL AND ECONOMIC EQUITY. IN 2024, 59% OF VEIC'S ORG-WIDE CONSULTING WORK HAD AN EXPLICIT FOCUS ON LOW-TO-MODERATE-INCOME COMMUNITIES. IN 2024, VEIC EXPENDED $9,383,100 IN FEDERAL GRANTS FUNDED BY THE CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS.VEIC HAD A NET LOSS FOR 2024 AND HAD BUDGETED FOR THIS NET LOSS IN ORDER TO SUPPORT MAKING INVESTMENTS TO SUPPORT FUTURE YEAR REVENUE GROWTH. THIS WAS IN LINE WITH VEIC'S STRATEGIC PLAN TO INCREASE IMPACT AND DELIVERY OF ITS MISSION OVER THE NEXT SEVERAL YEARS.Expenses $20,275,300 · grants $8,524,334 · revenue $12,292,447
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 03-0304418
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (509(a)(2))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 1988
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Environment (C350)
- Assets (IRS master file)
- $53,392,034
- Income (IRS master file)
- $130,939,426
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $130,939,426 | $131,141,340 | $53,392,034 | XML |
| 990 | December 2023 | $123,099,830 | $121,025,310 | $52,913,819 | XML |
| 990 | December 2022 | $108,745,667 | $106,290,392 | $52,044,292 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2019 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
| 990 | December 2017 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 03-0304418).
Questions about VERMONT ENERGY INVESTMENT CORP
- What is the EIN of VERMONT ENERGY INVESTMENT CORP?
- The employer identification number (EIN) of VERMONT ENERGY INVESTMENT CORP is 03-0304418.
- Is VERMONT ENERGY INVESTMENT CORP tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1988.
- Are donations to VERMONT ENERGY INVESTMENT CORP tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does VERMONT ENERGY INVESTMENT CORP file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of VERMONT ENERGY INVESTMENT CORP due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did VERMONT ENERGY INVESTMENT CORP last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of VERMONT ENERGY INVESTMENT CORP?
- The 990 for the year ended December 31, 2024 names KATHERINE MEYERS.
- Who are the officers and directors of VERMONT ENERGY INVESTMENT CORP?
- The 990 for the year ended December 31, 2024 lists 24 people; 22 received compensation from the organization, the highest $372,517 (REBECCA FOSTER, CHIEF EXECUTIVE OFFICER).
- How much revenue does VERMONT ENERGY INVESTMENT CORP have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $130,939,426, expenses of $131,141,340 and total assets of $53,392,034 at year end.
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