ISO NEW ENGLAND INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1997

Legal Domicile

Phone

4135354000

Tax Period

2024-01-01 to 2024-12-31

ISO NEW ENGLAND INC, founded in 1997, is a major nonprofit in the Environment sector that reported $264.6M in total revenue in fiscal year 2024. Revenue grew 12% year-over-year, indicating healthy expansion.

Mission

THE CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES INCLUDING THE FOLLOWING: TO (I) MAINTAIN THE RELIABILITY OF THE BULK POWER AND TRANSMISSION SYSTEM IN NEW ENGLAND BY, AMONG OTHER FUNCTIONS, EXERCISING OPERATIONAL AUTHORITY OVER THE BULK TRANSMISSION FACILITIES, (II) ADMINISTER AND SEEK TO ENHANCE SUSTAINABLE, COMPETITIVE AND EFFICIENT ENERGY MARKETS, AND (III) PROVIDE NON-DISCRIMINATORY, OPEN-ACCESS TRANSMISSION SERVICE.

Program Service Accomplishments

Program 1

Expenses: $115,867,972 Revenue: $128,373,469

ISO NEW ENGLAND INC. (ISO-NE) IS THE NOT-FOR-PROFIT ORGANIZATION AUTHORIZED BY THE FEDERAL GOVERNMENT TO PERFORM THREE CRITICAL ACTIVITIES TO ENSURE THE RELIABLE SUPPLY OF ELECTRICITY THROUGHOUT NEW ENGLAND. THROUGH ITS FIRST ACTIVITY, ENERGY ADMINISTRATION, ISO-NE ENSURES THE CONSTANT AVAILABILITY OF COMPETITIVELY PRICED ELECTRICITY FOR THE REGION'S 15.1 MILLION RESIDENTS BY DESIGNING, REFINING, AND ADMINISTERING IN A FAIR AND UNBIASED MANNER THE REGION'S WHOLESALE ELECTRICITY MARKETS. DURING 2024, ISO-NE WAS RESPONSIBLE FOR THE FAIR ADMINISTRATION OF APPROXIMATELY $7 BILLION OF MARKET TRANSACTIONS.

Program 2

Expenses: $71,396,763 Revenue: $79,090,602

THROUGH ITS SECOND ACTIVITY, RELIABILITY ADMINISTRATION, ISO-NE ENSURES THE RELIABLE DAY-TO-DAY OPERATION OF THE REGION'S HIGH VOLTAGE TRANSMISSION SYSTEM. AMONG OTHER THINGS, THIS INVOLVES (I)...

THROUGH ITS SECOND ACTIVITY, RELIABILITY ADMINISTRATION, ISO-NE ENSURES THE RELIABLE DAY-TO-DAY OPERATION OF THE REGION'S HIGH VOLTAGE TRANSMISSION SYSTEM. AMONG OTHER THINGS, THIS INVOLVES (I) COORDINATING THE OPERATION OF THE REGION'S NEARLY 400 DISPATCHABLE POWER PLANTS AND 9,000 MILES OF HIGH VOLTAGE TRANSMISSION LINES; (II) MANAGING THE MOVEMENT OF HIGH-VOLTAGE ELECTRICITY INTO, WITHIN, AND OUT OF NEW ENGLAND; (III) ENSURING THAT THE SIX-STATE NEW ENGLAND REGION HAS THE POWER SYSTEM RESOURCES NECESSARY TO MEET CONSUMER DEMAND FOR ELECTRICITY AND FEDERALLY-MANDATED RELIABILITY REQUIREMENTS; (IV) COORDINATING HOW TRANSMISSION LINES, GENERATION, AND OTHER RESOURCES CONNECT TO AND OPERATE ON THE POWER GRID RELIABLY; AND (V), WORKING WITH THE INDUSTRY TO DEVELOP TRANSMISSION INFRASTRUCTURE SOLUTIONS THAT ARE ESSENTIAL FOR MAINTAINING POWER SYSTEM RELIABILITY. DURING 2024 ISO-NE COORDINATED THE GENERATION AND TRANSMISSION OF THE APPROXIMATELY 116,700 GIGAWATT-HOURS OF POWER CONSUMED IN THE REGION.

Program 3

Expenses: $50,803,834 Revenue: $56,284,384

THROUGH ITS THIRD ACTIVITY, SCHEDULING SERVICES, ISO-NE FORECASTS AND SCHEDULES THE ELECTRICITY NEEDED IN THE REGION FOR EVERY SECOND OF EVERY DAY AND ENSURES THERE IS ENOUGH ELECTRICITY GENERATED TO MEET DEMAND AS WELL AS RESOURCES NEEDED TO MAINTAIN STRINGENT RELIABILITY CRITERIA. IN CONDUCTING THIS ACTIVITY, ISO-NE (I) MONITORS THE FLOW OF ELECTRICITY INTO, OUT OF, AND OVER NEW ENGLAND'S HIGH-VOLTAGE TRANSMISSION SYSTEM AND (II) SCHEDULES HUNDREDS OF DIVERSE POWER RESOURCES AND TRANSMISSION COMPONENTS TO SUPPLY JUST THE RIGHT AMOUNT OF ELECTRICITY TO MEET THE REGION'S DEMAND AND REQUIRED RESERVE MARGIN. ISO-NE IS RESPONSIBLE FOR ENSURING THAT THE GRID CAN WITHSTAND THE SUDDEN LOSS OF A POWER PLANT OR TRANSMISSION EQUIPMENT CAUSED BY WEATHER, MECHANICAL FAILURE, OR OTHER TRIGGERS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $262,503,596

Investment Income $2,090,594

Other Revenue $0

TOTAL REVENUE $264,594,190

Expense Breakdown

Grants Paid $13,500

Salaries & Benefits $156,422,169

Fundraising Expenses $0

Program Expenses $238,068,569

Other Expenses $108,158,521

TOTAL EXPENSES $264,594,190

Year-over-Year Comparison

	2024	2023	Change
Revenue	$264,594,190	$235,600,056	+0.1%
Expenses	$264,594,190	$235,600,056	+0.1%
Net Income	$0	$0	N/A

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

764

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

$13,918,019

Total Directors

$1,288,750

Key Employees

$3,450,032

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BROOK M COLANGELO	DIRECTOR	8.0	Director	$153,250	$0	$153,250
CAREN ANDERS	DIRECTOR	8.0	Director	$140,250	$0	$140,250
CATHERINE FLAX	DIRECTOR	8.0	Director	$135,250	$0	$135,250
CHERYL LAFLEUR	CHAIR, BOARD OF DIRECTORS	8.0	Director	$160,250	$0	$160,250
CRAIG IVEY	DIRECTOR	8.0	Director	$144,250	$0	$144,250
MARK VANNOY	DIRECTOR	8.0	Director	$148,750	$0	$148,750
MELVIN G WILLIAMS JR	DIRECTOR	8.0	Director	$136,750	$0	$136,750
MICHAEL J CURRAN	DIRECTOR	8.0	Director	$137,250	$0	$137,250
STEVEN B CORNELI	DIRECTOR	8.0	Director	$132,750	$0	$132,750
ALAN F MCBRIDE	V.P., System Planning	46.0	Officer	$340,809	$65,948	$406,757
ANNE C GEORGE	VP, CHIEF EXT AFFAIRS & COMM. OFF.	45.0	Officer	$608,935	$263,304	$872,239
GORDON VAN WELIE	PRESIDENT & CHIEF EXECUTIVE OFFICER	45.0	Officer	$2,253,854	$996,565	$3,250,419
KATHLEEN DECASTRO	VP, HR & CHIEF PEOPLE DIV. OFF.	45.0	Officer	$517,033	$285,038	$802,071
LORRAINE M BRADY	SR. CORP. ADMIN. & ASST. SEC.	45.0	Officer	$125,838	$30,528	$156,366
MARIA A GULLUNI	VP & GENERAL COUNSEL	45.0	Officer	$699,983	$250,779	$950,762
MATTHEW W WHITE	VP, MARKET DEV. & SETTLEMENTS & CHIEF ECON.	45.0	Officer	$713,908	$231,581	$945,489
PETER T BRANDIEN	VP, SYSTEM OPS. & MARKET ADMIN.	45.0	Officer	$1,079,127	$120,164	$1,199,291
ROBERT C LUDLOW	VP, CHIEF FINANCIAL & COMP. OFF.	45.0	Officer	$816,584	$380,513	$1,197,097
ROBERT G ETHIER	VP, SYSTEM PLANNING	45.0	Officer	$557,048	$29,668	$586,716
RUDOLF A PAWUL	VP, INFO. & CYBER SEC. SVCS.	45.0	Officer	$494,558	$230,362	$724,920
STEPHEN GEORGE	V.P, SYSTEM OPER & MARKET ADMIN	45.0	Officer	$316,566	$38,230	$354,796
VAMSI K CHADALAVADA	EXEC. VP & CHIEF OPERATING OFFICER	45.0	Officer	$1,694,325	$776,771	$2,471,096
ALBERT EVANS	CHIEF OF INFORMATION SECURITY	40.0	Key Emp	$411,466	$35,715	$447,181
BRENT OBERLIN	EXEC DIRECTOR, TRANSMISSION PLANNING	47.0	Key Emp	$321,885	$69,893	$391,778
DAVID NAUGHTON	EXEC. DIR., MKT. MONITORING	40.0	Key Emp	$356,682	$58,776	$415,458
DENNIS G ROBINSON	EXEC DIRECTOR, MARKET ADMIN. & AUCTIONS	41.0	Key Emp	$347,537	$92,578	$440,115
M DAVID HAMEEDY	EXEC DIRECTOR, PROGRAM MGMT. OFFICE	40.0	Key Emp	$371,295	$138,324	$509,619
MATTHEW F GOLDBERG	EXEC DIRECTOR, STRAT., RISK & OPS. COMM.	40.0	Key Emp	$371,078	$56,487	$427,565
SHANNON L CAREY	EXEC DIRECTOR, MKT. ANALYSIS & STLMNT.	42.0	Key Emp	$347,908	$81,669	$429,577
STEVEN GOULD	Director, Operations	45.0	Key Emp	$294,243	$94,496	$388,739
CHRISTOPHER GEISSLER	DIRECTOR, ECONOMIC ANALYSIS	44.0	Highest	$364,669	$36,892	$401,561
CHRISTOPHER NOLAN	DIRECTOR, MARKET & CREDIT RISK	40.0	Highest	$364,776	$36,548	$401,324
JOHN DILORETO	EXEC DIRECTOR, INTERNAL AUDIT	40.0	Highest	$345,524	$40,702	$386,226
PARVIZ ALIVAND	MANAGER, MARKET DESIGN AND PRINCIPAL ECONOMIST	41.0	Highest	$349,742	$44,404	$394,146
TONGXIN ZHENG	CHIEF TECHNOLOGIST	41.0	Highest	$350,835	$90,622	$441,457
MARK G KARL	FORMER VP, MARKET DEV. & SETTLEMENTS	N/A		$453,047	$-46,261	$406,786
MICHAEL N TANIWHA	FORMER IT DIR., INFR. & ENTRPR. SUPP.	N/A		$197,928	$-21,702	$176,226

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	$264,594,190	$264,594,190	$700,237,762	No data
2023	$235,600,056	$235,600,056	$513,103,203	No data
2022	$210,813,398	$210,813,398	$732,557,047	No data
2021	$201,685,559	$201,685,559	$660,644,997	No data
2020	$195,643,356	$195,643,356	$546,417,316	No data
2019	$194,266,780	$194,266,780	$566,816,092	No data
2018	$193,047,934	$193,047,934	$547,211,218	No data