MID ATLANTIC CLEAN HYDROGEN HUB INC

EIN: 921666293 501(c)(3) Science & Technology

DOVER, DE

Total Revenue
$5,549,490
Total Expenses
$6,859,992
Total Assets
$3,710,111
Net Assets
$-1,867,236
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2023
Legal Domicile
DE
Principal Officer
MAAYAN CITRON
Phone
3022338034
Tax Period
2024-01-01 to 2024-12-31

MID ATLANTIC CLEAN HYDROGEN HUB INC, founded in 2023, is a community nonprofit in the Science & Technology sector that reported $5.5M in total revenue in fiscal year 2024. Revenue surged 580% from the prior year, signaling strong growth momentum. Expenses of $6.9M exceeded revenue, resulting in a 24% operating deficit.

Mission

MID ATLANTIC CLEAN HYDROGEN HUB INC. ("MACH2") WAS CREATED TO DEVELOP A REGIONAL CLEAN HYDROGEN HUB THAT WILL ALIGN HYDROGEN PRODUCERS AND CONSUMERS VIA A CONNECTED INFRASTRUCTURE LOCATED WITHIN THE MID-ATLANTIC REGION OF THE UNITED STATES.

Program Service Accomplishments

Program 1
Expenses: $6,239,077

COORDINATED CONTRACT NEGOTIATIONS AND EXECUTION OF A COOPERATIVE AGREEMENT WITH OFFICE OF CLEAN ENERGY DEMONSTRATIONS (OCED) FOR THE CREATION OF AN ECONOMICALLY VIABLE HYDROGEN HUB, TO ENABLE...

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COORDINATED CONTRACT NEGOTIATIONS AND EXECUTION OF A COOPERATIVE AGREEMENT WITH OFFICE OF CLEAN ENERGY DEMONSTRATIONS (OCED) FOR THE CREATION OF AN ECONOMICALLY VIABLE HYDROGEN HUB, TO ENABLE RELIABLE AND AFFORDABLE HYDROGEN PRODUCTION IN THE MID-ATLANTIC REGION. MACH2 IDENTIFIED TWELVE PROJECT PARTNERS FOR HYDROGEN PRODUCTION, STORAGE, DELIVERY, AND WORKFORCE DEVELOPMENT PROGRAMS, AND NEGOTIATED SUBAWARD AGREEMENTS. MACH2 PROVIDES PROJECT MANAGEMENT, FEDERAL AWARD COMPLIANCE, FUNDRAISING, BUDGET MANAGEMENT, AND COMMUNITY ENGAGEMENT SUPPORT FOR THE HUB. IN 2024, MACH2 WROTE AND FINALIZED POLICIES AND PROCEDURES FOR FEDERAL AWARD COMPLIANCE, INCLUDING A CONFLICT OF INTEREST POLICY, AND OBATAINED OCED APPROVAL. MACH2 SELECTED AN ERP SYSTEM FOR ACCOUNTING AND PROJECT MANAGEMENT AND HELD MEETINGS WITH KEY COMMUNITIES AND STAKEHOLDERS TO BUILD RELATIONSHIPS WITHIN THE COMMUNITIES WHERE THE HUB WILL OPERATE.

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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 $5,370,541
Program Service Revenue $0
Investment Income $0
Other Revenue $178,949
TOTAL REVENUE $5,549,490

Expense Breakdown

Grants Paid $0
Salaries & Benefits $764,650
Fundraising Expenses $0
Program Expenses $6,239,077
Other Expenses $6,095,342
TOTAL EXPENSES $6,859,992

Year-over-Year Comparison

2024 2023 Change
Revenue $5,549,490 $816,600 +5.8%
Expenses $6,859,992 $1,097,263 +5.3%
Net Income $-1,310,502 $-280,663 +3.7%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
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Liquidity & Cash Position

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Governance

Voting Members
16
Independent Members
15
Employees
N/A
Volunteers
4

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
6
$764,650
Total Directors
17
$764,650
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
MARTIN WADE CEO (JAN - OCT) 32.00
Officer Director
$265,000 $0 $265,000
JOSEPH COLELLA COO (JAN - OCT) 22.00
Officer Director
$350,000 $0 $350,000
MAAYAN CITRON COO (OCT - DEC) 38.00
Officer Director
$149,650 $0 $149,650
COLLIN O'MARA CO-CHAIR 15.00
Officer Director
$0 $0 $0
JIM SNELL CO-CHAIR 4.00
Officer Director
$0 $0 $0
DORA CHEATHAM TREASURER AND SECRETARY 7.00
Officer Director
$0 $0 $0
SINCERE HARRIS BOARD MEMBER 0.00
Director
$0 $0 $0
SAM ROBINSON BOARD MEMBER 0.00
Director
$0 $0 $0
CHRIS RUGGIERO BOARD MEMBER 0.00
Director
$0 $0 $0
FREDDY SANCHES BOARD MEMBER 0.00
Director
$0 $0 $0
FAY SHONG BOARD MEMBER 0.00
Director
$0 $0 $0
YUSHAN YAN BOARD MEMBER 0.00
Director
$0 $0 $0
RYAN BOYER BOARD MEMBER 0.00
Director
$0 $0 $0
DAN COSNER BOARD MEMBER 0.00
Director
$0 $0 $0
ANTHONY LOWMAN BOARD MEMBER 0.00
Director
$0 $0 $0
SUE MUKHERJEE BOARD MEMBER 0.00
Director
$0 $0 $0
JOHN KANE BOARD MEMBER 0.00
Director
$0 $0 $0
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 $5,549,490 $6,859,992 $3,710,111 $-1,310,502
2023 $816,600 $1,097,263 $133,557 $-280,663
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