Nonprofit · EIN 87-2762989
VINEYARD POWER DEVELOPMENT FUND INC
Tax-exempt · VINEYARD HVN, MA 02568
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $955,784 | $951,683 | $4,101 | $146,744 | $23,372 | $123,372 |
| December 31, 2023 | 990 | $837,821 | $684,587 | $153,234 | $232,081 | $112,810 | $119,271 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $424,412
- Program service revenue
- $523,919
- Investment income
- $7,453
- Other revenue
- $0
Expenses
- Grants and similar amounts paid
- $194,402
- Compensation of officers, directors and key employees
- $148,295
- Other salaries and wages
- $375,664
- Salaries, compensation and benefits (total)
- $621,038
- Professional fundraising fees
- $0
- Legal fees
- $21,485
- Accounting fees
- $5,000
- Occupancy
- $40,670
- Travel
- $6,654
- Program services (functional)
- $831,610
- Management and general (functional)
- $120,073
Balance sheet and other
- Total assets, start of year
- $232,081
- Total assets, end of year
- $146,744
- Total liabilities, end of year
- $23,372
- Net assets, end of year
- $123,372
- Net assets without donor restrictions
- $123,372
- Gross receipts
- $955,784
- Employees
- 11
- Volunteers
- 16
- Year formed
- 2021
- State of legal domicile
- MA
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 |
|---|---|---|---|---|
| Richard Andre | President Trustee or director, Officer | 27 | $138,038 | $10,257 |
| Luke Lefeber | Controller & Renewable Dev. Manager Highest-paid employee | 40 | $138,193 | $6,817 |
| Michael Jacobs | Chairman Trustee or director, Officer | 0.5 | $0 | $0 |
| Rob Hannemann | Treasurer Trustee or director, Officer | 0.5 | $0 | $0 |
| William Lake | Clerk Trustee or director, Officer | 0.5 | $0 | $0 |
| Ann Berwick | Director Trustee or director | 0.5 | $0 | $0 |
| Jeff Parker | Director Trustee or director | 0.5 | $0 | $0 |
990 for the year ended December 31, 2023: 6 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Richard Andre | President Trustee or director, Officer | 24 | $131,106 | $11,552 |
| Michael Jacobs | Chairman Trustee or director, Officer | 0.5 | $0 | $0 |
| Rob Hannemann | Treasurer Trustee or director, Officer | 0.5 | $0 | $0 |
| William Lake | Clerk Trustee or director, Officer | 0.5 | $0 | $0 |
| Ann Berwick | Director Trustee or director | 0.5 | $0 | $0 |
| Ron Dagostino | Past Director Trustee or director | 0.5 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 517 STATE RD, VINEYARD HVN, MA 02568-5622
- Principal officer (990 for 2024)
- Richard Andre, 151 Beach Road Unit 1A, Vineyard Haven, MA 02568
- Signed the 990
- Richard Andre, President
- Phone
- (508) 693-3002
- Website
- www.vineyardpower.com
- Return prepared by
- Berry Dunn McNeil & Parker LLC
Mission
We are located on Martha's Vineyard and our mission is to foster the production of electricity from local, renewable resources while enhancing resiliency at our community's critical facilities and ensuring equitable access for all residents and businesses. Our vision for the island is to be 100% renewable in electricity, transportation, and heating by 2040.
Program accomplishments
- Continued Implementation of Energy Transition Program The Energy Transition Program is a community-driven effort to help our island achieve its renewable energy goals through direct engagement with residents, businesses, the Wampanoag Tribe of Gay Head (Aquinnah), municipalities, and environmental justice communities in the transition to a renewable energy future. The program confronts the climate crisis across five main areas of focus: renewable energy generation, strategic electrification, energy efficiency, resiliency, and equity. VPDF, utilizing its staff to support community outreach, engagement, education, technology, and partnership development, and leveraging its role as Community First Partner (CFP) to the Cape Light Compact and Mass Save, increased Home Energy Assessment enrollments by 70% year over year. Our organization also conducted nearly 80 individual energy coaching sessions in 2024 to support island residents in the energy transition. As a result of its Community Benefit Agreement with Vineyard Wind, VPDF is the managing entity responsible for the implementation of the Resiliency and Affordability Program (RAP) on Martha's Vineyard. The RAP is a $7.5 million commitment to the island over 15 years designed to increase renewable resiliency technology in the form of solar & battery storage projects at critical government, nonprofit, and tribal facilities, and to deliver electricity bill savings to the island's income eligible ratepayers. Under Project Plans approved by Vineyard Wind and Massachusetts Department of Energy Resources, VPDF committed $611,000 over 20 years to subsidize municipal solar and battery storage projects, $40,000 to non-profit affordable housing solar projects, donated over $150,000 to subsidize income eligible ratepayer electricity costs, and provided over $44,000 in interest free financing to the Wampanoag Tribe of Gay Head (Aquinnah) to support the development of solar and battery storage for new Tribal housing units. Lastly, VPDF worked with the Wampanoag Tribe of Gay Head (Aquinnah) (WTGHA) to develop the WTGHA Priority Climate Action Plan (PCAP) under U.S. EPA Climate Pollution Reduction Grants and to advise on energy-related matters including energy efficiency and renewable energy generation.Expenses $831,610 · grants $194,402 · revenue $523,919
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
- 87-2762989
- 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
- 2022
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Philanthropy, voluntarism and grantmaking foundations (T20)
- Assets (IRS master file)
- $146,744
- Income (IRS master file)
- $955,784
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $955,784 | $951,683 | $146,744 | IRS |
| 990 | December 2023 | $837,821 | $684,587 | $232,081 | XML |
| 990-EZ | December 2022 | – | – | – | IRS |
| 990-EZ | December 2021 | – | – | – | 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 87-2762989).
Questions about VINEYARD POWER DEVELOPMENT FUND INC
- What is the EIN of VINEYARD POWER DEVELOPMENT FUND INC?
- The employer identification number (EIN) of VINEYARD POWER DEVELOPMENT FUND INC is 87-2762989.
- Is VINEYARD POWER DEVELOPMENT FUND INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 2022.
- Are donations to VINEYARD POWER DEVELOPMENT FUND INC tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does VINEYARD POWER DEVELOPMENT FUND INC 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 VINEYARD POWER DEVELOPMENT FUND INC 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 VINEYARD POWER DEVELOPMENT FUND INC 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 VINEYARD POWER DEVELOPMENT FUND INC?
- The 990 for the year ended December 31, 2024 names Richard Andre.
- Who are the officers and directors of VINEYARD POWER DEVELOPMENT FUND INC?
- The 990 for the year ended December 31, 2024 lists 7 people; 2 received compensation from the organization, the highest $138,038 (Richard Andre, President).
- How much revenue does VINEYARD POWER DEVELOPMENT FUND INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $955,784, expenses of $951,683 and total assets of $146,744 at year end.
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