Montgomery County Green Bank Corporation
- Assets
- $24.1m
- Revenue
- $933.1k
- Investments
- $1.0m
- Employees
- 7
- Location
- Rockville, MD
- Founding
- 06/2017
- Data as of
- 06/2022
- EIN
- 81-2179565
Organization Overview
Montgomery County Green Bank Corporation 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 06/2022, Montgomery County Green Bank Corporation employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Montgomery County Green Bank 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 06/2022, Montgomery County Green Bank Corporation generated $933.1k 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 (18.7%) each year. All expenses for the organization totaled $1.4m during the year ending 06/2022. 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
2022
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 |
|---|---|---|---|
Thomas Deyo Chief Executive Officer | Officer | 40 | $214,942 |
Stephen Morel Chief Investment Officer | Officer | 40 | $191,143 |
Marcene Mitchell Vice Chair | Trustee | 12 | $0 |
Bob Sahadi Vice Chair | Trustee | 12 | $0 |
Michael Coveyou Ex-Officio | Trustee | 1 | $0 |
Brian Marconi Director | 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 | $780,753 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $780,753 |
| Total Program Service Revenue | $98,071 |
| Investment income | $54,307 |
| 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 | $933,131 |
| 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. | $778,741 |
| Compensation of current officers, directors, key employees. | $361,711 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $34,426 |
| Pension plan accruals and contributions | $39,627 |
| Other employee benefits | $118,882 |
| Payroll taxes | $54,882 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,000 |
| Fees for services: Accounting | $43,005 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,487 |
| Advertising and promotion | $59,828 |
| Office expenses | $30,150 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,264 |
| 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 | $10,507 |
| All other expenses | $0 |
| Total functional expenses | $1,392,024 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $20,312 |
| Savings and temporary cash investments | $22,811,452 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $225,244 |
| 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 | $21,838 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,048,148 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,886 |
| Total assets | $24,128,880 |
| Accounts payable and accrued expenses | $128,271 |
| 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 | $6,518,645 |
| Net assets without donor restrictions | $11,970,107 |
| Net assets with donor restrictions | $5,640,128 |
| 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 | $24,128,880 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Montgomery County Green Bank Corporation has recieved totaling $150,000.
| Awarding Organization | Amount |
|---|---|
The Jpb Foundation New York, NY PURPOSE: GREEN BANK AFFORDABLE CLEAN ENERGY FINANCING | $150,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sustainable Energy Utility Inc Dover, DE | $151,005,842 | $34,793,273 |
Solar Energy Industries Association Inc Washington, DC | $18,099,333 | $20,516,160 |
Clasp Washington, DC | $15,465,717 | $16,877,815 |
Environmental Working Group Washington, DC | $14,685,158 | $16,093,379 |
Smart Electric Power Alliance Washington, DC | $18,618,602 | $11,424,998 |
Citizens For Responsible Energy Solutions Inc Washington, DC | $4,760,375 | $5,691,548 |
Urban Sustainability Directors Network Washington, DC | $14,958,599 | $9,810,102 |
National Hydropower Association Inc Washington, DC | $4,290,027 | $5,771,967 |
Institute For Market Transformation Inc Washington, DC | $5,588,466 | $5,620,018 |
Solar United Neighbors Washington, DC | $7,152,492 | $9,177,956 |
Renewable Energy Wildlife Institute Washington, DC | $5,884,881 | $3,402,247 |
Coalition For Green Capital Washington, DC | $1,092,509 | $2,755,500 |