New York City Energy Efficiency Corporation
- Assets
- $49.7m
- Revenue
- $5.0m
- Investments
- $0.0
- Employees
- 17
- Location
- New York, NY
- Founding
- 11/2012
- Data as of
- 06/2021
- EIN
- 27-3731338
Organization Overview
New York City Energy Efficiency Corporation is located in New York, NY. The organization was established in 2012. According to its NTEE Classification (C35) the organization is classified as: Energy Resources Conservation & Development, under the broad grouping of Environment and related organizations. As of 06/2021, New York City Energy Efficiency Corporation employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. New York City Energy Efficiency Corporation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2021, New York City Energy Efficiency Corporation generated $5.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.7%) each year. All expenses for the organization totaled $5.7m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
NYCEEC'S MISSION IS TO DELIVER FINANCING SOLUTIONS AND ADVANCE MARKETS FOR ENERGY EFFICIENCY AND CLEAN ENERGY IN BUILDINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frederick H Lee Co-Ceo, Co-President | Officer | 40 | $227,060 |
Jay Merves Dir. Of Business Dev., Tre | Officer | 40 | $191,998 |
Curtis Probst Co-Ceo, Co-President | Officer | 40 | $188,046 |
Jessica Luk Director Of Development | 40 | $146,742 | |
Michael Kerstetter General Counsel | 40 | $140,441 | |
Naeemah E Lajoie Director Of Operations | 40 | $138,308 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Otterbourg Legal Services | 6/29/19 | $136,312 |
Burchman Terrio Quist Llc Accounting Serivces | 6/29/19 | $146,074 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,886,741 |
| All other contributions, gifts, grants, and similar amounts not included above | $941,750 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,828,491 |
| Total Program Service Revenue | $2,130,819 |
| Investment income | $2,038 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,961,348 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $945,739 |
| Compensation of current officers, directors, key employees. | $173,124 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,086,522 |
| Pension plan accruals and contributions | $9,225 |
| Other employee benefits | $71,986 |
| Payroll taxes | $123,149 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $23,245 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $335,626 |
| Advertising and promotion | $0 |
| Office expenses | $74,523 |
| Information technology | $82,268 |
| Royalties | $0 |
| Occupancy | $227,459 |
| Travel | $2,871 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $499,497 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,878 |
| Insurance | $41,894 |
| All other expenses | $0 |
| Total functional expenses | $5,666,673 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,971,183 |
| Savings and temporary cash investments | $10,157,081 |
| Pledges and grants receivable | $1,456,206 |
| Accounts receivable, net | $397,529 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $29,550,789 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $55,472 |
| Net Land, buildings, and equipment | $13,810 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,128,258 |
| Total assets | $49,730,328 |
| Accounts payable and accrued expenses | $1,112,713 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $124,378 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $15,000,000 |
| Unsecured mortgages and notes payable | $303,297 |
| Other liabilities | $0 |
| Total liabilities | $16,540,388 |
| Net assets without donor restrictions | $2,400,396 |
| Net assets with donor restrictions | $30,789,544 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $49,730,328 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that New York City Energy Efficiency Corporation has recieved totaling $540,625.
| Awarding Organization | Amount |
|---|---|
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $250,000 |
United States Energy Foundation San Francisco, CA PURPOSE: TO PROMOTE EDUCATION AND ANALYSIS TO ADVANCE ENERGY OPTIMIZATION. | $150,000 |
Rockefeller Foundation New York, NY PURPOSE: TOWARD THE COSTS OF AN EFFORT TO TRANSFORM AFFORDABLE MULTIFAMILY BUILDINGS TO NET-ZERO OR NEAR NET-ZERO ENERGY USE | $140,625 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Efficiency Forward Inc Medford, MA | $5,907,697 | $9,722,584 |
Center For Ecotechnology Inc Dalton, MA | $5,279,642 | $8,781,564 |
New York City Energy Efficiency Corporation New York, NY | $49,730,328 | $4,961,348 |
Environment Next Inc East Aurora, NY | $24,217,627 | $8,709,351 |
E4thefuture Framingham, MA | $19,416,406 | $1,363,963 |
Northeast Energy Efficiency Partnerships Inc Lexington, MA | $4,479,644 | $4,251,266 |
Deploy-Us Inc Boston, MA | $2,976,414 | $4,253,205 |
Interstate Renewable Energy Council Albany, NY | $3,755,320 | $4,093,970 |
Green Mountain Energy Sun Club Princeton, NJ | $0 | $1,158,123 |
National Wind Technology Consortium Albany, NY | $2,138,543 | $2,465,652 |
Sustainable Westchester Inc Mount Kisco, NY | $1,228,571 | $2,221,583 |
Conservation Consultants Pittsburgh, PA | $941,687 | $805,109 |