Citizens Energy Corp
- Assets
- $112.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 28
- Location
- Boston, MA
- Founding
- 11/1980
- Data as of
- 12/2022
- EIN
- 04-2691955
Organization Overview
Citizens Energy Corp is located in Boston, MA. The organization was established in 1980. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Citizens Energy Corp employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Citizens Energy Corp is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2022, Citizens Energy Corp generated $1.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (11.2%) each year. All expenses for the organization totaled $3.9m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Citizens Energy Corp has awarded 73 individual grants totaling $2,698,089. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SEE SCHEDULE OCITIZENS ENERGY CORPORATION PROVIDES LOW-COST ENERGY SERVICES TO LOW-INCOME FAMILIES IN THE U.S. BY DEVELOPING SUCCESSFUL ENERGY PROJECTS AND USING THE PROFITS TO FUND ASSISTANCE PROGRAMS. CITIZENS ENERGY CORPORATION EXISTS TO HELP MAKE LIFE'S BASIC NEEDS MORE ACCESSIBLE AND AFFORDABLE. BEGINNING IN 1979 WITH OIL-TRADING VENTURES IN LATIN AMERICA AND AFRICA, CITIZENS ENERGY CORPORATION HAS USED REVENUES FROM COMMERCIAL ENTERPRISES TO CHANNEL HUNDREDS OF MILLIONS OF DOLLARS INTO CHARITABLE PROGRAMS IN THE UNITED STATES AND ABROAD. WHETHER HEATING THE HOMES OF THE ELDERLY AND POOR IN MASSACHUSETTS, LOWERING THE COST OF PRESCRIPTION DRUGS FOR MILLIONS OF AMERICANS, STARTING SOLAR HEATING PROJECTS IN JAMAICA AND VENEZUELA, OR PROVIDING LOW-COST SOLAR ELECTRICITY TO LOW-INCOME FAMILIES THROUGH OUR COMMUNITY SOLAR PROJECTS, CITIZENS ENERGY CORPORATION CREATES SOCIAL VENTURES AS INNOVATIVE AS THE BUSINESSES THAT FINANCE THEM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CITIZENS PROVIDES DEEPLY DISCOUNTED ELECTRICITY CREDITS TO APPROXIMATELY 14,500 LOW-INCOME RATEPAYERS IN THE IMPERIAL IRRIGATION DISTRICT (IID), FROM ITS 39-MEGAWATT LOW-INCOME COMMUNITY SOLAR PROJECT CITIZENS IMPERIAL SOLAR, LLC COMMISSIONED IN 2019. A COMBINATION OF FREE ELECTRICITY FUNDED FROM CITIZENS SUNRISE TRANSMISSION LLC (CST) AND LOW-COST WHOLESALE ELECTRICITY SOLD DIRECTLY TO IID PROVIDES APPROXIMATELY $4.2 MILLION OF ELECTRICITY SAVINGS PER YEAR TO NEEDY RATEPAYERS STRUGGLING TO STAY COOL IN THE REGION'S 115-DEGREE HEAT.
UNRESTRICTED DONATIONS MADE TO NON-PROFITSRELATED OF $112,191 AND INCLUDING GRANTS OF $112,191NATURAL GAS ASSISTANCE FUND:RELATED OF $86,850 AND INCLUDING GRANTS OF $86,850DURING 1984, CITIZENS ENERGY CORPORATION BEGAN A NATURAL GAS ASSISTANCE PROGRAM FOR THE PURPOSE OF PROVIDING THE BENEFIT OF LOWER-COST NATURAL GAS TO LOW-INCOME & ELDERLY PEOPLE THROUGHOUT THE UNITED STATES AND HEATING ASSISTANCE FOR HOMELESS SHELTERS. THE ASSISTANCE FUND IS ADMINISTERED BY LOCAL SOCIAL SERVICES AGENCIES WITHIN THEIR AREA TO PROVIDE GRANTS TO NEEDY USERS.OTHER PROGRAMS NOTE:IN 2019, CITIZENS LAUNCHED ITS "JOE-4-SUN" LOW-INCOME COMMUNITY SOLAR PROGRAM. THE PROGRAM PROVIDES RETAIL ELECTRICITY BILL CREDITS AT A 50% DISCOUNT TO MORE THAN 2,500 INCOME-QUALIFIED NEEDY FAMILIES ACROSS MASSACHUSETTS AND NEW YORK, SAVING EACH FAMILY APPROXIMATELY $300 PER YEAR. THE BILL CREDITS ORIGINATE FROM SOLAR PROJECTS DEVELOPED, BUILT, OWNED, AND OPERATED BY CITIZENS ENTERPRISES' SUBSIDIARIES. JOE-4-SUN PROVIDES APPROXIMATELY $600,000 PER YEAR OF ELECTRICITY SAVINGS TO LOW-INCOME FAMILIES.IN ADDITION TO THE JOE-4-SUN LOW-INCOME COMMUNITY SOLAR PROGRAM, CITIZENS ALSO PROVIDES APPROXIMATELY $1.8 MILLION/YEAR OF ELECTRICITY SAVINGS TO MUNICIPALITIES, COLLEGES, AND NON-PROFIT ORGANIZATIONS FROM BILL CREDITS GENERATED FROM ITS SOLAR PROJECTS. DURING 2022, CITIZENS INCURRED $758,408 IN EXPENSES FOR OUTREACH, MARKETING, AND CUSTOMER SERVICE RELATED TO ADMINISTERING THE JOE-4-SUN PROGRAM.IN 2022, CITIZENS, IN PARTNERSHIP WITH VINEYARD WIND, BEGAN A PROGRAM TO PURCHASE NET METERING OR SOLAR BILL CREDITS ON BEHALF OF LOW-INCOME RATEPAYERS WHO LIVE IN COASTAL AREAS IMPACTED BY THE VINEYARD WIND OFFSHORE WIND PROJECT. PURCHASING THE BILL CREDITS FOR THESE HOUSEHOLDS FURTHER REDUCES THEIR MONTHLY ELECTRIC BILLS, BEYOND THE INITIAL SAVINGS FROM THE DISCOUNTED BILL CREDITS. DURING 2022, CITIZENS SPENT $73,182 TO REDUCE 166 LOW-INCOME HOUSEHOLD'S ENERGY BILLS.
IN 2019, CITIZENS BEGAN A PROGRAM TO PROVIDE INCREASED ACCESS TO THE BENEFITS OF ELECTRIC VEHICLE (EV) TRANSPORTATION TO DISADVANTAGED COMMUNITIES IN SAN DIEGO COUNTY BY PROVIDING FUNDING TO PURCHASE EV'S TO NON-PROFIT ORGANIZATIONS THAT PROVIDE SERVICES TO LOW-INCOME FAMILIES. FUNDING FOR THIS PROGRAM COMES FROM CITIZENS SYCAMORE-PENASQUITOS TRANSMISSION, LLC (CSPT). IN 2022, THIS PROGRAM FUNDED GRANTS TO PROVIDE EV VANS AND THE ASSOCIATED CHARGING INFRASTRUCTURE TO THREE CRITICALLY IMPORTANT NON-PROFIT ORGANIZATIONS: THE INDIAN HEALTH COUNCIL IN VALLEY CENTER (WWW.INDIANHEALTH.COM), THE SOUTHERN INDIAN HEALTH COUNCIL IN ALPINE (WWW.SIHC.ORG), AND MEALS ON WHEELS OF SAN DIEGO COUNTY (WWW.MEALS-ON-WHEELS.ORG)
CITIZENS ENERGY SHELTER WINTER ASSISTANCE PROGRAM: SINCE 1984,CITIZENS ENERGY HAS CONTRIBUTED GRANTS TO OVER 125 HOMELESS SHELTERS IN MASSACHUSETTS AND RHODE ISLAND TO COVER THEIR ENERGY COSTS DURING THE WINTER SEASON.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph P Kennedy II Chairman And President | Trustee | 1 | $0 |
Randy Greene Director | Trustee | 1 | $2,000 |
Patrick Jones Director | Trustee | 1 | $2,000 |
Evelyn Murphy Director | Trustee | 1 | $2,000 |
Peter F Smith CEO | Officer | 8 | $84,971 |
Ernest J Panos CFO | Officer | 8 | $67,801 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,857,168 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,857,168 |
| Total Program Service Revenue | $0 |
| Investment income | $192,188 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$365,176 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $90,000 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,841,369 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $981,663 |
| Grants and other assistance to domestic individuals. | $1,497,143 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $172,943 |
| Compensation of current officers, directors, key employees. | $172,943 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $535,572 |
| Pension plan accruals and contributions | $6,100 |
| Other employee benefits | $125,255 |
| Payroll taxes | $11,458 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,225 |
| 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 | $5,258 |
| Advertising and promotion | $39,180 |
| Office expenses | $301,286 |
| Information technology | $19,554 |
| Royalties | $0 |
| Occupancy | $140,810 |
| Travel | $3,458 |
| 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 | $36,314 |
| All other expenses | $15,600 |
| Total functional expenses | $3,892,819 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,336,094 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $169,047 |
| 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 | $117,195 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,685,812 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $94,072,422 |
| Total assets | $112,380,570 |
| Accounts payable and accrued expenses | $1,067,322 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| 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 | $1,067,322 |
| Net assets without donor restrictions | $108,026,873 |
| Net assets with donor restrictions | $3,286,375 |
| 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 | $112,380,570 |
Grants Awarded
Over the last fiscal year, Citizens Energy Corp has awarded $707,010 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MEALS ON WHEELS PURPOSE: UNRESTRICTED | $475,704 |
JOHN F KENNEDY LIBRARY PURPOSE: UNRESTRICTED | $25,000 |
ROBERT F KENNEDY CENTER PURPOSE: UNRESTRICTED | $40,000 |
INDIAN HEALTH COUNCIL PURPOSE: UNRESTRICTED | $166,306 |