VERMONT ENERGY INVESTMENT CORPORATION

EIN: 030304418 501(c)(3) Environment

WINOOSKI, VT

Total Revenue
$130,939,426
Total Expenses
$131,141,340
Total Assets
$53,392,034
Net Assets
$28,723,789
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Financial Trends

Organization Details

Formation Year
1986
Legal Domicile
VT
Principal Officer
KATHERINE MEYERS
Phone
8006396069
Tax Period
2024-01-01 to 2024-12-31

VERMONT ENERGY INVESTMENT CORPORATION, founded in 1986, is a major nonprofit in the Environment sector that reported $130.9M in total revenue in fiscal year 2024.

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 Service Accomplishments

Program 1
Expenses: $68,575,392 Revenue: $71,176,014

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...

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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.

Program 2
Expenses: $32,617,626 Revenue: $33,925,882

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...

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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.

Program 3
Expenses: $3,029,552 Revenue: $3,268,400

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...

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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.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $9,594,192
Program Service Revenue $120,619,050
Investment Income $726,184
Other Revenue $0
TOTAL REVENUE $130,939,426

Expense Breakdown

Grants Paid $8,524,334
Salaries & Benefits $49,536,021
Fundraising Expenses $0
Program Expenses $124,497,870
Other Expenses $73,080,985
TOTAL EXPENSES $131,141,340

Year-over-Year Comparison

2024 2023 Change
Revenue $130,939,426 $123,099,830 +0.1%
Expenses $131,141,340 $121,025,310 +0.1%
Net Income $-201,914 $2,074,520 -1.1%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
11
Independent Members
11
Employees
426
Volunteers
N/A

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
7
$910,961
Total Directors
12
$23,000
Key Employees
4
$841,273
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
ELLEN ZUCKERMAN CHAIR 1.00
Officer Director
$3,750 $0 $3,750
OSWALDO ACOSTA TREASURER 1.00
Officer Director
$3,000 $0 $3,000
NANCY OWENS VICE CHAIR 1.00
Officer Director
$2,750 $0 $2,750
DIANNE DILLON-RIDGLEY DIRECTOR 1.00
Director
$2,000 $0 $2,000
VINCENT VALDES DIRECTOR 1.00
Director
$2,000 $0 $2,000
NICK RICHARDSON DIRECTOR 1.00
Director
$2,000 $0 $2,000
CEDERICK ANTHONY PICKETT SECRETARY 1.00
Officer Director
$2,000 $0 $2,000
DALE BRYK DIRECTOR 1.00
Director
$2,000 $0 $2,000
JACOB PARK DIRECTOR 1.00
Director
$2,000 $0 $2,000
BRANDI COLANDER DIRECTOR THROUGH SEP. 2024 1.00
Director
$1,500 $0 $1,500
JANET BESSER DIRECTOR 1.00
Director
$0 $0 $0
MERRIAN BORGESON DIRECTOR 1.00
Director
$0 $0 $0
REBECCA FOSTER CHIEF EXECUTIVE OFFICER 37.50
Officer
$372,517 $40,677 $413,194
KATHERINE MEYERS CHIEF FINANCIAL OFFICER 37.50
Officer
$274,920 $14,143 $289,063
STEPHANIE PHILLIPS CHIEF GENERAL COUNSEL 37.50
Officer
$186,999 $10,205 $197,204
LOUIS HUTCHINSON COO THROUGH NOV. 2024 37.50
Key Emp
$249,507 $21,578 $271,085
BEN BURDICK INTERIM MANAGING DIRECTOR, DCSEU 37.50
Key Emp
$191,569 $9,706 $201,275
PETER WALKE MANAGING DIRECTOR, EFFICIENCY VT 37.50
Key Emp
$190,505 $14,403 $204,908
ERNEST JOLLY MAN. DIR., DCSEU THROUGH SEP. 2024 37.50
Key Emp
$160,993 $3,012 $164,005
LISA HARRIS CHIEF PEOPLE OFFICER 37.50
Highest
$266,073 $22,500 $288,573
BRIAN KEALOHA CHIEF GROWTH AND IMPACT OFFICER 37.50
Highest
$253,635 $7,659 $261,294
PIERRE VAN DER MERWE CHIEF TECHNOLOGY OFFICER 37.50
Highest
$248,730 $34,604 $283,334
MATTHEW DOOLEY MAN. DIR., EN SERV/INT. COO A/O NOV 37.50
Highest
$243,190 $13,032 $256,222
ANGELA JOHNSON DIRECTOR, FINANCE, DCSEU 37.50
Highest
$204,658 $18,621 $223,279
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $130,939,426 $131,141,340 $53,392,034 $-201,914
2023 $123,099,830 $121,025,310 $52,913,819 $2,074,520
2022 $108,745,667 $106,290,392 $52,044,292 $2,455,275
2021 $94,935,292 $90,928,851 $38,391,512 $4,006,441
2020 $121,662,420 $116,957,963 $42,152,408 $4,704,457
2020 $121,662,420 $116,957,963 $42,152,408 $4,704,457
2019 $99,018,110 $96,107,411 $26,906,393 $2,910,699
2018 $87,429,577 $85,400,411 $22,684,853 $2,029,166
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