Civic Intelligence

Rocky Mountain Institute

990 • Fiscal year 2018 • EIN 74-2244146

Jul 01, 2017 to Jun 30, 2018 • Filed on Mar 21, 2019

2490 Junction Place Suite 200Boulder, CO 80301

(303) 245-1003

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

54th percentile

0.30x

Higher debt load relative to assets than 54% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Liabilities / Revenue

48th percentile

0.27x

Higher debt load relative to revenue than 48% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Net Margin

57th percentile

5.8%

Higher net margin than 57% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Top Officer Pay

86th percentile

$560,025

Higher top officer pay than 86% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2018

Asset Growth

78th percentile

12%

Faster asset growth than 78% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Revenue Growth

74th percentile

16%

Faster revenue growth than 74% of similar nonprofits.

2018 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2017 to 2018

Assets

Up

$38,235,339

Up $4,044,992 (+12%) from 2017

Net Assets

Up

$26,773,079

Up $2,416,432 (+9.9%) from 2017

Liabilities

Up

$11,462,260

Up $1,628,560 (+17%) from 2017

Revenue

Up

$42,315,984

Up $5,925,990 (+16%) from 2017

Expenses

Up

$39,847,054

Up $6,444,233 (+19%) from 2017

Net Income

Down

$2,468,930

Down $518,243 (-17%) from 2017

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2011: $11,523,704Liabilities 2011: $2,181,959Net Assets 2011: $9,341,7452011Assets 2012: $10,280,047Liabilities 2012: $2,720,530Net Assets 2012: $7,559,5172012Assets 2013: $13,475,076Liabilities 2013: $1,713,682Net Assets 2013: $11,761,3942013Assets 2014: $18,910,188Liabilities 2014: $2,524,549Net Assets 2014: $16,385,6392014Assets 2015: $33,621,689Liabilities 2015: $9,103,705Net Assets 2015: $24,517,9842015Assets 2016: $32,947,222Liabilities 2016: $9,478,518Net Assets 2016: $23,468,7042016Assets 2017: $34,190,347Liabilities 2017: $9,833,700Net Assets 2017: $24,356,6472017Assets 2018: $38,235,339Liabilities 2018: $11,462,260Net Assets 2018: $26,773,0792018Assets 2019: $47,374,815Liabilities 2019: $12,131,611Net Assets 2019: $35,243,2042019Assets 2020: $59,543,794Liabilities 2020: $15,357,565Net Assets 2020: $44,186,2292020Assets 2021: $107,274,324Liabilities 2021: $15,200,947Net Assets 2021: $92,073,3772021Assets 2022: $116,417,411Liabilities 2022: $18,729,291Net Assets 2022: $97,688,1202022Assets 2023: $140,735,486Liabilities 2023: $44,380,064Net Assets 2023: $96,355,4222023Assets 2024: $149,471,347Liabilities 2024: $45,698,763Net Assets 2024: $103,772,5842024

Highlighted filing

2018

Assets$38,235,339
Liabilities$11,462,260
Net Assets$26,773,079

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$200M$150M$100M$50M$0-$50MExpenses 2011: $11,243,9302011Expenses 2012: $11,755,8622012Expenses 2013: $12,550,8182013Revenue 2014: $18,851,788Expenses 2014: $15,321,550Net Income 2014: $3,530,2382014Revenue 2015: $25,819,828Expenses 2015: $23,454,695Net Income 2015: $2,365,1332015Revenue 2016: $29,477,100Expenses 2016: $29,312,920Net Income 2016: $164,1802016Revenue 2017: $36,389,994Expenses 2017: $33,402,821Net Income 2017: $2,987,1732017Revenue 2018: $42,315,984Expenses 2018: $39,847,054Net Income 2018: $2,468,9302018Revenue 2019: $53,502,081Expenses 2019: $44,945,015Net Income 2019: $8,557,0662019Revenue 2020: $61,864,266Expenses 2020: $52,619,733Net Income 2020: $9,244,5332020Revenue 2021: $115,107,316Expenses 2021: $66,413,297Net Income 2021: $48,694,0192021Revenue 2022: $116,983,377Expenses 2022: $107,203,385Net Income 2022: $9,779,9922022Revenue 2023: $139,396,668Expenses 2023: $141,157,018Net Income 2023: -$1,760,3502023Revenue 2024: $164,733,491Expenses 2024: $160,014,972Net Income 2024: $4,718,5192024

Highlighted filing

2018

Revenue$42,315,984
Expenses$39,847,054
Net Income$2,468,930
Jump To
Filing Snapshot
Filing Period
Jul 1, 2017 to Jun 30, 2018
Signed
Mar 21, 2019
Return Version
2017v2.3
Gross Receipts
$42,376,113
Mission and Program Overview

Mission

Our mission is to transform global energy use to create a clean, prosperous, and secure low-carbon future.

Our mission is to drive the efficient and restorative use of resources.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$16,727,136$16,447,546▼ $279,590
Cash and Non-Interest-Bearing Accounts$4,238,927$7,702,222▲ $3,463,295
Pledges and Grants Receivable$9,275,331$7,414,920▼ $1,860,411
Accounts Receivable$1,788,180$3,644,758▲ $1,856,578
Investments Program Related$270,220$720,220▲ $450,000
Investments Other Securities$513,986$544,238▲ $30,252
Prepaid Expenses and Deferred Charges$175,946$315,834▲ $139,888
Total Assets$34,190,347$38,235,339▲ $4,044,992
Other Assets Total$1,200,621$1,445,601▲ $244,980
Liabilities
Mortgage Notes Payable Secured by Investment Property$4,760,648$6,112,254▲ $1,351,606
Accounts Payable and Accrued Expenses$3,555,049$4,438,311▲ $883,262
Deferred Revenue$1,211,071$643,645▼ $567,426
Other Liabilities$306,932$268,050▼ $38,882
Total Liabilities$9,833,700$11,462,260▲ $1,628,560
Net Assets / Fund Balance
Temporarily Rstr Net Assets$11,427,013$13,705,415▲ $2,278,402
Unrestricted Net Assets$12,049,414$12,172,869▲ $123,455
Permanently Rstr Net Assets$880,220$894,795▲ $14,575
Total Net Assets Fund Balance$24,356,647$26,773,079▲ $2,416,432
Total Liabilities and Net Assets / Fund Balance$34,190,347$38,235,339▲ $4,044,992

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$15,109,344$990,259$16,099,603
Equipment$392,551$1,487,874$1,880,425
Other Land Buildings$781,766$425,639$1,207,405
Leasehold Improvements$163,885$215,689$379,574

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2017$922,691$14,575▲ $65,521$19,388$971,159
2016$884,692$6,650▲ $78,141$35,926$922,691
2015$986,528$8,000▼ $9,811$100,025$884,692
2014$980,930$35,890▼ $30,291$609,285$377,244
2013$875,987$23,315▲ $89,825-$980,930
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jules KortenhorstChief Executive OfficerFT$297,993$262,032$560,025
Amory LovinsChariman Emeritus/chief ScientistFT$282,846$152,095$434,941
Jon CreytsManaging DirectorFT$244,070$98,139$342,209
Stephen DoigManaging DirectorFT$250,788$91,407$342,195
Jeruld WeilandManaging DirectorFT$255,081$85,042$340,123
James NewcombManaging DirectorFT$248,092$91,382$339,474
Curtis ProbstManaging Director Term End 01/18FT$240,411$97,488$337,899
Martha PickettGeneral Counsel - SecretaryFT$246,238$88,578$334,816
Edward HarveyManaging DirectorFT$251,395$79,861$331,256
Lena HansenManaging DirectorFT$231,003$85,407$316,410
Iain CampbellManaging DirectorFT$200,811$96,050$296,861
Paul BodnarManaging DirectorFT$230,462$31,367$261,829
Brad MushovicManaging DirectorFT$169,419$73,589$243,008
Carol NastaManaging Director Term End 05/18FT$170,075$68,693$238,768
Herve TouatiManaging DirectorFT$156,735$81,705$238,440
Mark GrundyManaging DirectorFT$172,411$61,765$234,176
Keely HendersonManaging Director Term End 05/17FT$114,090$110,398$224,488
Justin LockeDirectorFT$150,983$40,789$191,772
Victor OlgyayPrincipalFT$143,343$48,425$191,768
Heather MccreeryManaging DirectorFT$162,071$29,068$191,139
James MandelManaging Director Beg 06/18FT$135,597$54,862$190,459
Lily DongePrincipalFT$134,291$48,871$183,162
Jeff WallerPrincipalFT$142,361$36,859$179,220
Jennifer StokesManaging Director Beg 03/18FT$149,603$27,961$177,564
Ted WhiteChair of the Board-$50,000-$50,000

Board Members and Trustees

Highest Paid Contractors

ContractorServicesLocationCompensation
Cni ServicesIt Services7000 S YOSEMITE STREET SUITE 125, Centennial, CO 80112, Sf$496,549
Dnv Kema Rnewables INCContractorDEPT CH 19586, Palatine, IL 60055, Uk$356,441
Bross Group LLCIt Services200 UNION BLVD SUITE 200, Lakewood, CO 80228$352,722
Izulumoya Consulting (pty) LtdContractor-$217,616
Blue CommunicationsContractor-$176,625
Revenue and Support

Revenue Composition

Contributions and Grants
$33,898,510
Program Service Revenue
$8,330,801
Investment Income
$45,146
Other Revenue
$41,527
All Other Contributions
$33,031,677
Change in Net Assets
$2,468,930

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded15$1,175,840Fair Market Value (FMV)
Total Noncash Contributions15$1,175,840-

Audited Revenue Reconciliation

Revenue per Audited Statements
$42,310,845
Revenue Not Reported on Financial Statements
$5,139
Revenue Not Reported on Form 990
$247,964
Total Revenue per Audited Statements
$42,558,809
Total Revenue per Form 990
$42,315,984
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$22,973,306
Other Expenses$16,663,106
Total Fundraising Expense$2,372,894
Professional Fundraising Fees$135,302
Grants and Similar Amounts Paid$75,340

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$11,801,413$1,356,965$711,891$13,870,269
Fees for Services Other$5,330,898$749,814$88,890$6,169,602
Current Officers, Directors, Trustees, and Key Employees$3,837,323$956,730$725,321$5,519,374
Travel$2,546,124$162,639$88,252$2,797,015
Other Employee Benefits$1,586,407$195,758$88,966$1,871,131
Occupancy$1,447,163$314,757$107,033$1,868,953
Information Technology$1,007,498$317,287$101,852$1,426,637
Payroll Taxes$936,297$148,543$69,454$1,154,294
Office Expenses$629,540$188,822$124,322$942,684
Conferences and Meetings$795,463$12,661$22,661$830,785
Depreciation Depletion$637,748$118,986$49,150$805,884
Pension Plan Contributions$446,463$89,212$22,563$558,238
Interest-$443,620-$443,620
All Other Expenses$13,927$240,366$5,162$259,455
Fees for Services Legal$108,456$46,000-$154,456
Other Expenses$223,543$145,618$25,555$145,618
Fees for Services Professional Fundraising--$135,302$135,302
Insurance$85,695$15,785$6,520$108,000
Grants to Domestic Orgs$55,000--$55,000
Advertising$28,744$330-$29,074
Fees for Services Accounting$3,645$18,521-$22,166
Foreign Grants$20,340--$20,340
Fees for Service Investment Mgmnt Fees-$5,139-$5,139
Total Functional Expenses$31,541,687$5,932,473$2,372,894$39,847,054

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$40,142,377
Total Expenses per Form 990$39,847,054
Expenses per Audited Statements$39,841,915
Expenses Not Reported on Form 990$300,462
Expenses Not Reported on Financial Statements$5,139
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Watttime CorporationOakland, CA501(c)(3)General Support$50,000

International Summary

Offices
1
Employees
41
Spending
$3,672,801

International Compliance

Foreign grant records maintained
No
Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
Yes
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
East Asia and the PacificProgram ServicesChina115$1,292,801
EuropeProgram ServicesBuildings, Methane, Seed, Shipping Efficiency, Islands Energy Program, Ewf010$998,000
Sub-saharan AfricaProgram ServicesSeed and Sunshine for Mines02$543,000
North AmericaProgram ServicesIslands Energy and Buildings Programs04$393,000
Central America and the CaribbeanProgram ServicesIslands Energy Program07$289,000
South AmericaProgram ServicesIslands Energy Program02$87,000
South AsiaProgram ServicesIndia01$70,000
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
Yes

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$135,302
Fundraising Direct Expenses$60,129
Fundraising Gross Income$33,820

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Rmi 35th Anniversary$393,444$33,820$30,614$3,206
Total Events$393,444$33,820$60,129$-26,309
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Deferred Rent$173,980
Capital Lease Obligations$91,441
Due to Related Party$2,629
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

Jules kortenhorst and jon creyts have a business relationship as they serve together on a separate board.

Form 990, Part VI, Section B, Line 11B

Rmi's review process for the 990 form begins with a formal review by management. After management review, the 990 will be distributed to the full board prior to filling.

Form 990, Part VI, Section B, Line 12C

Trustees and key personnel are provided a conflict of interest policy on an annual basis to disclose of any interests. The policy is distributed annually and signed by all trustees and key personnel.

Form 990, Part VI, Section B, Line 15

Rmi has engaged an outside compensation firm to review compensation at all levels and help the organization to ensure compensation levels are appropriately competitive within the market. This review is completed every couple of years. Rmi regularly ensures new and modified positions of all levels are appropriately priced with regard to salary and bonus, including senior level positions. Additionally, the board of trustees formed a compensation committee in 2013 to ensure appropriate compensation practices are in place for the executive level. This compensation committee also approves compensation actions regarding senior team members and rmi's ceo.

Form 990, Part VI, Section C, Line 19

Rmi's articles of incorporation are of public record with the colorado secretary of state. Annual reports, irs form 990, and audited financial statements are available on the rmi website (www.rmi.org). Copies of any policy, including bylaws, are available upon request.

Filing and Contact Details

Filer

Filer Name
Rocky Mountain Institute
EIN
74-2244146
Phone
3032451003
Address
2490 JUNCTION PLACE SUITE 200, BOULDER, CO 80301

Signing Officer

Name
Jules Kortenhorst
Title
CEO
Phone
3032451003
Signed
2019-03-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jules Kortenhorst
Formed
1982
Legal Domicile
Co
Voting Board Members
20
Independent Board Members
17
Employees
185
Volunteers
16

Preparer

Firm
Plante & Moran Pllc
Address
8181 E TUFTS AVE SUITE 600, DENVER, CO 80237
Preparer
Dori J Eggett
Phone
3037409400
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

Watttime corporation is new, see schedule o narrative for the details.

Form 990, Part IX, Line 11G

Consulting fees: program service expenses 5,023,808. Management and general expenses 684,029. Fundraising expenses 88,890. Total expenses 5,796,727. Payroll fees: program service expenses 19,924. Management and general expenses 58,203. Fundraising expenses 0. Total expenses 78,127. Marketing and outreach: program service expenses 49,567. Management and general expenses 94. Fundraising expenses 0. Total expenses 49,661. Website: program service expenses 72,309. Management and general expenses 0. Fundraising expenses 0. Total expenses 72,309. Public relations: program service expenses 165,290. Management and general expenses 7,488. Fundraising expenses 0. Total expenses 172,778.

FORM 990, PART XI, LINE 9:

Write-off of pledges receivable -108,260. Change in net assets held at the denver foundation 37,665.

Financial Statement Notes

PART V, LINE 4:

Endowment funds are used to provide rmi internships.

PART X, LINE 2:

Rmi applies a more-likely-than-not measurement methodology to reflect the financial statement impact of uncertain tax positions taken or expected to be taken in a tax return. After evaluating the tax positions taken, none are considered to be uncertain; therefore, no amounts have been recognized as of june 30, 2018 and 2017. If incurred, interest and penalties associated with tax positions are recorded in the period assessed as general and administrative expense. No interest or penalties have been assessed as of june 30, 2018 and 2017.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Change in net assets held at the denver foundation 37,665. Special event expense 60,129.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Write-off of pledges receivable 108,260. Special event expense 60,129.

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IRS990/Desc0GLOBAL ENERGY TRANSITIONS- HELPING THE PEOPLE OF EMERGING ECONOMIES TO LEAPFROG STRAIGHT TO THE CLEAN ENERGY REVOLUTION.CHINA PROGRAM- SUPPORTING CHINA IN REDUCING ITS EMISSIONS AND FOLLOWING A CLEAN ENERGY PATHWAY. WE AIM TO HELP CHINA PEAK CARBON EMISSIONS BY 2030 AND, WITH GOVERNMENT AND OTHER PARTNERS, SUPPORT CHINA AS IT REDUCES ITS CARBON INTENSITY 60% BY 2030.CONTINUED ON SCHEDULE O.INDIA PROGRAM- SUPPORTING INDIA'S AMBITIOUS RENEWABLE ENERGY AND CLEAN MOBILITY GOALS BY PARTNERING WITH LEADERS IN THE GOVERNMENT AND PRIVATE SECTOR ON PROJECTS AT THE NATIONAL, STATE, AND CITY LEVELS. WE AIM TO CREATE A SHARED, CLEAN, AND CONNECTED MOBILITY FUTURE THAT PROMISES TO PROVIDE INDIANS WITH AFFORDABLE, EFFICIENT, AND RELIABLE TRANSPORTATION OPTIONS TO SUPPORT AND ENHANCE THEIR DAILY LIVES. WE'RE ALSO HOSTING A COMPETITION TO SPUR THE DEVELOPMENT OF A RESIDENTIAL COOLING TECHNOLOGY THAT CONSUMES FIVE TIMES LESS GRID ELECTRICITY THAN TODAY'S STANDARD PRODUCTS.ISLANDS ENERGY PROGRAM- ACCELERATING THE TRANSITION OF ISLAND ECONOMICS FROM A HEAVY DEPENDENCE ON FOSSIL FUELS TO EFFICIENCY AND RENEWABLES. WE AIM TO ACCELERATE THE TRANSITION TO RENEWABLES IN 13 ISLAND CARIBBEAN COUNTRIES, INSTALL 95 MEGAWATTS OF RENEWABLE ENERGY, AND LEVERAGE $300 MILLION IN FINANCING FOR ISLAND ENERGY PROJECTS BY 2020.SUSTAINABLE ENERGY FOR ECONOMIC DEVELOPMENT (SEED)- HELPING GOVERNMENTS IN SUB-SAHARAN AFRICA EXPAND ACCESS TO CLEAN, RELIABLE ELECTRICITY. WE AIM TO HELP SIX AFRICAN COUNTRIES EXPAND ELECTRICITY ACCESS WITH CLEAN TECHNOLOGIES BY 2020.
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$149$45.7$104$165$160$4.72
2023Detailed filing. Detailed filing data is available for this year.$141$44.4$96.4$139$141$1.76
2022Detailed filing. Detailed filing data is available for this year.$116$18.7$97.7$117$107$9.78
2021Detailed filing. Detailed filing data is available for this year.$107$15.2$92.1$115$66.4$48.7
2020Detailed filing. Detailed filing data is available for this year.$59.5$15.4$44.2$61.9$52.6$9.24
2019Detailed filing. Detailed filing data is available for this year.$47.4$12.1$35.2$53.5$44.9$8.56
2018Detailed filing. Detailed filing data is available for this year.$38.2$11.5$26.8$42.3$39.8$2.47
2017Detailed filing. Detailed filing data is available for this year.$34.2$9.83$24.4$36.4$33.4$2.99
2016Detailed filing. Detailed filing data is available for this year.$32.9$9.48$23.5$29.5$29.3$0.16
2015Detailed filing. Detailed filing data is available for this year.$33.6$9.10$24.5$25.8$23.5$2.37
2014Detailed filing. Detailed filing data is available for this year.$18.9$2.52$16.4$18.9$15.3$3.53
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.5$1.71$11.8$12.6
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.3$2.72$7.56$11.8
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.5$2.18$9.34$11.2