NORTH CAROLINA ADVANCED ENERGY CORPORATION (EIN 561275391) - Form 990 Financial Analysis & Trantor Score

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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

1980

Legal Domicile

Principal Officer

ROBERT GOODSON

Phone

9198579000

Tax Period

2023-01-01 to 2023-12-31

NORTH CAROLINA ADVANCED ENERGY CORPORATION, founded in 1980, is a community nonprofit that reported $8.0M in total revenue in fiscal year 2023.

Mission

THE TWO MAJOR CORPORATE GOALS ARE TO MODERATE THE RISE IN DEMAND FOR ELECTRICITY AND TO HELP SHIFT DEMAND TO OFF-PEAK PERIODS. THE ARTICLES OF INCORPORATION ALSO CHARGE THE CORPORATION WITH FULFILLING THE COMPLEMENTARY PURPOSES OF EDUCATING CONSUMERS ABOUT ENERGY, PROVIDING ALTERNATIVES TO CURRENT ELECTRIC GENERATION TECHNOLOGIES, DEVELOPING MORE ECONOMIC SOURCES OF ELECTRIC POWER, INCREASING SYSTEM EFFICIENCY AND LOAD FACTORS THROUGH CONSERVATION AND LOAD MANAGEMENT, HELPING TO MODERATE THE FUTURE COST OF ELECTRIC SERVICE, AND DEMONSTRATING MORE EFFICIENT USES OF ELECTRIC POWER.

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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 (2023)

Revenue Breakdown

Contributions & Grants $332,565

Program Service Revenue $7,555,751

Investment Income $112,692

Other Revenue $0

TOTAL REVENUE $8,001,008

Expense Breakdown

Grants Paid $0

Salaries & Benefits $6,255,904

Fundraising Expenses $0

Program Expenses $5,551,335

Other Expenses $2,032,445

TOTAL EXPENSES $8,288,349

Year-over-Year Comparison

	2023	2022	Change
Revenue	$8,001,008	$8,369,337	0.0%
Expenses	$8,288,349	$8,811,211	-0.1%
Net Income	$-287,341	$-441,874	-0.3%

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

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

$462,942

Total Directors

$1,726

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
JO ANNE SANFORD	CHAIR	1.00	Officer Director	$250	$0	$250
ROBERT POWELL	VICE CHAIR	1.00	Officer Director	$601	$0	$601
KATHARINE KOLLINS	TREASURER	1.00	Officer Director	$0	$0	$0
CARL WILKINS	SECRETARY	1.00	Officer Director	$375	$0	$375
CHRIS EDGE	MEMBER-AT-LA	1.00	Officer Director	$0	$0	$0
VENU GHANTA	DIRECTOR	1.00	Director	$0	$0	$0
DIONNE DELLI-GATTI	DIRECTOR	1.00	Director	$500	$0	$500
HAYES JERNIGAN FINLEY	DIRECTOR	1.00	Director	$0	$0	$0
ADAM FOODMAN	DIRECTOR	1.00	Director	$0	$0	$0
PETER LEDFORD	DIRECTOR	1.00	Director	$0	$0	$0
PAUL SPRUILL	DIRECTOR	1.00	Director	$0	$0	$0
GAYLENE WATSON	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT GOODSON	PRESIDENT &	40.00	Officer	$242,921	$14,133	$257,054
BRIAN COBLE	CHIEF OP OFF	40.00	Officer	$186,113	$18,549	$204,662
EUGENE BUTLER	BUS. DEVELP.	40.00	Highest	$143,395	$8,266	$151,661
MICHAEL STOWE	ENGINEER V	40.00	Highest	$140,289	$22,819	$163,108
SHAWN FITZPATRICK	ENGINEER III	40.00	Highest	$132,319	$15,254	$147,573
CHRSTINE MAURER	ENGINEERING	40.00	Highest	$129,577	$19,303	$148,880

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	No data	No data	No data	No data
2023	$8,001,008	$8,288,349	$10,460,302	$-287,341
2022	$8,369,337	$8,811,211	$9,435,626	$-441,874
2021	$8,839,166	$7,411,080	$9,515,286	$1,428,086
2020	$7,615,886	$6,350,362	$8,294,134	$1,265,524
2019	$7,840,968	$6,956,365	$6,697,706	$884,603
2018	$7,685,439	$6,487,004	$5,986,199	$1,198,435

NORTH CAROLINA ADVANCED ENERGY CORPORATION