Civic Intelligence

North Carolina Clean Energy Fund

EIN 86-2644198 • 501(c)3 • Raleigh, NC

Pub. 78 EligibleNTEE C35

Profile

Our mission is to accelerate investment in clean and efficient energy solutions and increase climate resilience in north carolina, particularly to the benefit of underserved populations.

8105 Halethorpe DriveRaleigh, NC 27613

www.nccleanenergyfund.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

45th percentile

0.03x

Higher debt load relative to assets than 45% of similar nonprofits.

NTEE C • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

37th percentile

0.03x

Higher debt load relative to revenue than 37% of similar nonprofits.

NTEE C • $1M-$5M nonprofits • Source year 2024

Net Margin

94th percentile

79%

Higher net margin than 94% of similar nonprofits.

NTEE C • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

70th percentile

$110,925

Higher top officer pay than 70% of similar nonprofits.

Top officer pay equals 4.5% of source-year revenue.

NTEE C • $1M-$5M nonprofits • Source year 2024

Asset Growth

95th percentile

246%

Faster asset growth than 95% of similar nonprofits.

NTEE C • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

95th percentile

261%

Faster revenue growth than 95% of similar nonprofits.

NTEE C • $1M-$5M nonprofits • Annualized from 2023 to 2024

Assets

Up

$2,758,549

Up $1,961,404 (+246%) from 2023

Liabilities

Up

$69,137

Up $20,832 (+43%) from 2023

Net Assets

Up

$2,689,412

Up $1,940,572 (+259%) from 2023

Revenue

Up

$2,448,635

Up $1,769,465 (+261%) from 2023

Expenses

Up

$507,413

Up $361,319 (+247%) from 2023

Net Income

Up

$1,941,222

Up $1,408,146 (+264%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$3.0M$2.0M$1.0M$0Assets 2022: $219,964Liabilities 2022: $4,200Net Assets 2022: $215,7642022Assets 2023: $797,145Liabilities 2023: $48,305Net Assets 2023: $748,8402023Assets 2024: $2,758,549Liabilities 2024: $69,137Net Assets 2024: $2,689,4122024

Highlighted filing

2024

Assets$2,758,549
Liabilities$69,137
Net Assets$2,689,412

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$3.0M$2.0M$1.0M$0Revenue 2022: $220,000Expenses 2022: $4,236Net Income 2022: $215,7642022Revenue 2023: $679,170Expenses 2023: $146,094Net Income 2023: $533,0762023Revenue 2024: $2,448,635Expenses 2024: $507,413Net Income 2024: $1,941,2222024

Highlighted filing

2024

Revenue$2,448,635
Expenses$507,413
Net Income$1,941,222

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jan 21, 2025
Return Version
2023v6.0
Gross Receipts
$2,448,635
Mission and Program Overview

Mission

Our mission is to accelerate investment in clean and efficient energy solutions and increase climate resilience in north carolina, particularly to the benefit of underserved populations.

We partner with public and private investors, foundations and other non-profit organizations to deploy sustainable financing solutions that will create long-lasting environmental, economic and social benefits.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$176,695$1,853,405▲ $1,676,710
Cash and Non-Interest-Bearing Accounts$317,680$660,555▲ $342,875
Pledges and Grants Receivable$300,000$237,305▼ $62,695
Land, Buildings, and Equipment, Net$2,770$7,284▲ $4,514
Accounts Receivable-$0-
Total Assets$797,145$2,758,549▲ $1,961,404
Liabilities
Accounts Payable and Accrued Expenses$48,305$59,117▲ $10,812
Other Liabilities$0$10,020▲ $10,020
Total Liabilities$48,305$69,137▲ $20,832
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$448,840$2,248,803▲ $1,799,963
Net Assets With Donor Restrictions$300,000$440,609▲ $140,609
Total Net Assets Fund Balance$748,840$2,689,412▲ $1,940,572
Total Liabilities and Net Assets / Fund Balance$797,145$2,758,549▲ $1,961,404

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$7,284$1,730$9,014
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jennifer WeissCo-directorFT$104,400$6,525$110,925
Melissa Malkin-weberCo-directorFT$99,702$6,279$105,981

Board Members and Trustees

NameTitle
Ajulo OthowBoard Vice Chair
Bridget HerringBoard Member
Chris TeeterBoard Member
Juan CanalBoard Member
Mozine LoweBoard Member
Nora BargerBoard Member
Tyler NorrisBoard Member
Everette WinslowSecretary/treasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,419,805
Program Service Revenue
$0
Investment Income
$28,830
Other Revenue
$0
All Other Contributions
$2,419,805
Change in Net Assets
$1,941,222

Audited Revenue Reconciliation

Revenue per Audited Statements
$2,448,635
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Total Revenue per Audited Statements
$2,448,635
Total Revenue per Form 990
$2,448,635
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$377,556
Other Expenses$129,857
Total Fundraising Expense$31,394
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Current Officers, Directors, Trustees, and Key Employees$168,607$37,761$10,538$216,906
Other Salaries and Wages$83,946$18,800$5,247$107,993
Fees for Services Other$64,759$3,608$9,576$77,943
Other Employee Benefits$23,201$5,196$1,450$29,847
Fees for Services Accounting$20,796$1,159$3,075$25,030
Payroll Taxes$17,731$3,971$1,108$22,810
Travel$11,052$516$38$11,606
Insurance$2,721$1,288$170$4,179
Conferences and Meetings$2,538$21-$2,559
Depreciation Depletion$1,289$396$45$1,730
Information Technology$1,084$333$38$1,455
Other Expenses$600$586$43$1,186
Office Expenses$495$152$17$664
Total Functional Expenses$401,429$74,590$31,394$507,413

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$507,413
Total Expenses per Audited Statements$507,413
Total Expenses per Form 990$507,413
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Accrued Vacation$10,020
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

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

Form 990 will be reviewed and approved by the organization's board chair.

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

The conflict of interest policy is discussed annually during a meeting of the board of directors. Every director is required to sign the conflict of interest policy annually. If a conflict of interest is disclosed or idenitifed during this process, or at any time during the year, it would be addressed and resolved by the board of directors.

Form 990, Part VI, Section B, Line 15

Nccef strives to provide competitive and equitable compensation for its officers. We conduct market studies on an annual basis, which inform salary ranges and the compensation structure as a whole. Officer salaries are determined using this data, as well as other factors (incumbent education, experience, certifications, etc.), and all salary decisions are approved by the nccef board of directors.

Form 990, Part VI, Section C, Line 19

North carolina clean energy fund makes available to the public upon request, its governing documents, conflict of interst policy, and financial statements.

Filing and Contact Details

Filer

Filer Name
North Carolina Clean Energy Fund
EIN
86-2644198
Phone
5046068148
Address
8105 HALETHORPE DRIVE, RALEIGH, NC 27613

Signing Officer

Name
Jennifer Weiss
Title
Director
Phone
5046068148
Signed
2025-01-21
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Jennifer Weiss
Formed
2020
Legal Domicile
Nc
Voting Board Members
8
Independent Board Members
8
Employees
3
Volunteers
0

Preparer

Firm
Mpcompany Llp
Address
4600 MARRIOTT DRIVE SUITE 300, RALEIGH, NC 27612
Preparer
Martha Register-futrell
Phone
9198369200
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

In april 2024, nccef was part of a coalition. Led by the nc state energy office, that received notification of a $156 million award for the solar for all program, part of epa's greenhouse gas reduction fund. The program will launch in january 2025. Nccef also worked with buncombe county and asheville, nc to launch the electrifyabc program, a heat pump financing program.

Form 990, Part IX, Line 11G

Contracted services: program service expenses 64,759. Management and general expenses 3,608. Fundraising expenses 9,576. Total expenses 77,943.

FORM 990, PART XI, LINE 9:

Change in prior year net asset -650.

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IRS990/PrincipalOfficerNm0JENNIFER WEISS
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt0677500
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt00
IRS990/PYInvestmentIncomeAmt01670
IRS990/PYOtherExpensesAmt048955
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
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IRS990/PYSalariesCompEmpBnftPaidAmt097139
IRS990/PYTotalExpensesAmt0146094
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt0679170
IRS990/QuidProQuoContributionsInd00
IRS990/ReconcilationRevenueExpnssAmt01941222
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd00
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/ReportInvestmentsOtherSecInd00
IRS990/ReportLandBuildingEquipmentInd01
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd01
IRS990/ReportProgramRelatedInvstInd00
IRS990/SavingsAndTempCashInvstGrp/BOYAmt0176695
IRS990/SavingsAndTempCashInvstGrp/EOYAmt01853405
IRS990ScheduleA/First5Years170Ind0X
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus2YearsAmt0220000
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt03317305
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearAmt028830
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus1YearAmt01670
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt030500
IRS990ScheduleA/PublicOrganization170Ind0X
IRS990ScheduleA/PublicSupportTotal170Amt02600324
IRS990ScheduleA/SubstantialContributorsTotAmt0716981
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearAmt02419805
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus1YearAmt0677500
IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus2YearsAmt0220000
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt03317305
IRS990ScheduleA/TotalSupportAmt03347805
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IRS990ScheduleB/ContributorInformationGrp/TotalContributionsAmt0RESTRICTED
IRS990/ScheduleBRequiredInd01
IRS990ScheduleD/EquipmentGrp/BookValueAmt07284
IRS990ScheduleD/EquipmentGrp/DepreciationAmt01730
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt09014
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt00
IRS990ScheduleD/ExpensesSubtotalAmt0507413
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt010020
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0ACCRUED VACATION
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IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt02448635
IRS990ScheduleD/TotalBookValueLandBuildingsAmt07284
IRS990ScheduleD/TotalExpensesPerForm990Amt0507413
IRS990ScheduleD/TotalLiabilityAmt010020
IRS990ScheduleD/TotalRevenuePerForm990Amt02448635
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt02448635
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0507413
IRS990/ScheduleJRequiredInd00
IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN APRIL 2024, NCCEF WAS PART OF A COALITION. LED BY THE NC STATE ENERGY OFFICE, THAT RECEIVED NOTIFICATION OF A $156 MILLION AWARD FOR THE SOLAR FOR ALL PROGRAM, PART OF EPA'S GREENHOUSE GAS REDUCTION FUND. THE PROGRAM WILL LAUNCH IN JANUARY 2025. NCCEF ALSO WORKED WITH BUNCOMBE COUNTY AND ASHEVILLE, NC TO LAUNCH THE ELECTRIFYABC PROGRAM, A HEAT PUMP FINANCING PROGRAM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1FORM 990 WILL BE REVIEWED AND APPROVED BY THE ORGANIZATION'S BOARD CHAIR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE CONFLICT OF INTEREST POLICY IS DISCUSSED ANNUALLY DURING A MEETING OF THE BOARD OF DIRECTORS. EVERY DIRECTOR IS REQUIRED TO SIGN THE CONFLICT OF INTEREST POLICY ANNUALLY. IF A CONFLICT OF INTEREST IS DISCLOSED OR IDENITIFED DURING THIS PROCESS, OR AT ANY TIME DURING THE YEAR, IT WOULD BE ADDRESSED AND RESOLVED BY THE BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3NCCEF STRIVES TO PROVIDE COMPETITIVE AND EQUITABLE COMPENSATION FOR ITS OFFICERS. WE CONDUCT MARKET STUDIES ON AN ANNUAL BASIS, WHICH INFORM SALARY RANGES AND THE COMPENSATION STRUCTURE AS A WHOLE. OFFICER SALARIES ARE DETERMINED USING THIS DATA, AS WELL AS OTHER FACTORS (INCUMBENT EDUCATION, EXPERIENCE, CERTIFICATIONS, ETC.), AND ALL SALARY DECISIONS ARE APPROVED BY THE NCCEF BOARD OF DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4NORTH CAROLINA CLEAN ENERGY FUND MAKES AVAILABLE TO THE PUBLIC UPON REQUEST, ITS GOVERNING DOCUMENTS, CONFLICT OF INTERST POLICY, AND FINANCIAL STATEMENTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 64,759. MANAGEMENT AND GENERAL EXPENSES 3,608. FUNDRAISING EXPENSES 9,576. TOTAL EXPENSES 77,943.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6CHANGE IN PRIOR YEAR NET ASSET -650.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART IX, LINE 11G
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART XI, LINE 9:
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd01
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TerminateOperationsInd00
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IRS990/TotalAssetsGrp/BOYAmt0797145
IRS990/TotalAssetsGrp/EOYAmt02758549
IRS990/TotalCompGreaterThan150KInd00
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IRS990/TotalEmployeeCnt03
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt031394
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt074590
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0401429
IRS990/TotalFunctionalExpensesGrp/TotalAmt0507413
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IRS990/TotalOtherCompensationAmt012804
IRS990/TotalProgramServiceExpensesAmt0401429
IRS990/TotalReportableCompFromOrgAmt0204102
IRS990/TotalRevenueGrp/ExclusionAmt028830
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt02448635
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0797145
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02758549
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TravelGrp/FundraisingAmt038
IRS990/TravelGrp/ManagementAndGeneralAmt0516
IRS990/TravelGrp/ProgramServicesAmt011052
IRS990/TravelGrp/TotalAmt011606
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08105 HALETHORPE DR
IRS990/USAddress/CityNm0RALEIGH
IRS990/USAddress/StateAbbreviationCd0NC
IRS990/USAddress/ZIPCd027613
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.NCCLEANENERGYFUND.ORG
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0JENNIFER WEISS

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