Montgomery County Green Bank Corp
- Assets
- $41.1m
- Revenue
- $19.4m
- Investments
- $7.0m
- Employees
- 13
- Location
- Rockville, MD
- Founding
- 06/2017
- Data as of
- 06/2023
- EIN
- 81-2179565
Organization Overview
Montgomery County Green Bank Corp is located in Rockville, MD. The organization was established in 2017. 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 06/2023, Montgomery County Green Bank Corp employed 13 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery County Green Bank Corp 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 06/2023, Montgomery County Green Bank Corp generated $19.4m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 29.2% each year . All expenses for the organization totaled $2.6m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MONTGOMERY COUNTY GREEN BANK CORPORATION IS MAKING ENERGY EFFICIENCY AND CLEAN ENERGY ATTAINABLE FOR ALL IN OUR COMMUNITY AND CREATING A MORE SUSTAINABLE AND RESILIENT FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MONTGOMERY COUNTY GREEN BANK IS A PUBLICLY-CHARTERED NONPROFIT DEDICATED TO ACCELERATING AFFORDABLE ENERGY EFFICIENCY AND CLEAN ENERGY INVESTMENT IN MONTGOMERY COUNTY, MD. WE PARTNER WITH THE PRIVATE SECTOR TO BUILD A MORE DIVERSE, EQUITABLE, AND INCLUSIVELY PROSPEROUS,RESILIENT, SUSTAINABLE, AND HEALTHY COMMUNITY. OUR WORK SUPPORTS MONTGOMERY COUNTY'S GOAL TO REDUCE ITS GREENHOUSE GAS EMISSIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bonnie Norman Chair | Trustee | 15 | $0 |
Marcene Mitchell Vice Chair | Trustee | 12 | $0 |
Bob Sahadi Vice Chair | Trustee | 12 | $0 |
Bert Hunter Secretary | Trustee | 12 | $0 |
Michael Coveyou Ex-Officio | Trustee | 1 | $0 |
Adrianna Hochberg Ex-Officio | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $473,302 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $473,302 |
| Total Program Service Revenue | $130,016 |
| Investment income | $686,662 |
| 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 | $19,408,579 |
| 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. | $1,274,626 |
| Compensation of current officers, directors, key employees. | $404,064 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $143,616 |
| Pension plan accruals and contributions | $44,086 |
| Other employee benefits | $132,257 |
| Payroll taxes | $89,753 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,206 |
| Fees for services: Accounting | $74,727 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $36,305 |
| Advertising and promotion | $85,527 |
| Office expenses | $56,956 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,996 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $21,216 |
| All other expenses | $0 |
| Total functional expenses | $2,560,274 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $31,368,833 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,727,389 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $22,228 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $6,970,712 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,886 |
| Total assets | $41,091,048 |
| Accounts payable and accrued expenses | $242,134 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $6,390,374 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $6,632,508 |
| Net assets without donor restrictions | $27,093,964 |
| Net assets with donor restrictions | $7,364,576 |
| 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 | $41,091,048 |