Iso New England Inc
- Assets
- $660.6m
- Revenue
- $201.7m
- Investments
- $0.0
- Employees
- 671
- Location
- Holyoke, MA
- Founding
- 11/2004
- Data as of
- 12/2021
- EIN
- 04-3372500
Organization Overview
Iso New England Inc is located in Holyoke, MA. The organization was established in 2004. 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 12/2021, Iso New England Inc employed 671 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iso New England Inc 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 12/2021, Iso New England Inc generated $201.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $201.7m during the year ending 12/2021. While expenses have increased by 2.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Iso New England Inc has awarded 19 individual grants totaling $157,968. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES INCLUDING THE FOLLOWING, TO (I) MAINTAIN THE RELIABILITY OF THE BULK POWER AND TRANSMISSION SYSTEM IN NEW ENGLAND BY, AMONG OTHER THINGS, EXERCISING OPERATIONAL AUTHORITY OVER THE BULK TRANSMISSION FACILITIES, (II) ADMINISTER AND SEEK TO ENHANCE SUSTAINABLE, COMPETITIVE AND EFFICIENT ENERGY MARKETS, AND (III) PROVIDE NON-DISCRIMINATORY, OPEN-ACCESS TRANSMISSION SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REFERENCE LINE 4A: ENERGY ADMINISTRATION - ISO NEW ENGLAND INC. (ISO-NE) IS THE NOT-FOR-PROFIT ORGANIZATION AUTHORIZED BY THE FEDERAL GOVERNMENT TO PERFORM THREE CRITICAL ACTIVITIES TO ENSURE THE RELIABLE SUPPLY OF ELECTRICITY THROUGHOUT NEW ENGLAND. THROUGH ITS FIRST ACTIVITY, ENERGY ADMINISTRATION, ISO-NE ENSURES THE CONSTANT AVAILABILITY OF COMPETITIVELY-PRICED ELECTRICITY FOR THE REGION'S 14.8 MILLION RESIDENTS BY DESIGNING, REFINING, AND ADMINISTERING IN A FAIR AND UNBIASED MANNER THE REGION'S WHOLESALE ELECTRICITY MARKETS. DURING 2021, ISO-NE WAS RESPONSIBLE FOR THE FAIR ADMINISTRATION OF OVER $8.39 BILLION OF MARKET TRANSACTIONS.
REFERENCE LINE 4B: RELIABILITY ADMINISTRATION - THROUGH ITS SECOND ACTIVITY, RELIABILITY ADMINISTRATION, ISO-NE ENSURES THE RELIABLE DAY-TO-DAY OPERATION OF THE REGION'S HIGH VOLTAGE TRANSMISSION SYSTEM. AMONG OTHER THINGS, THIS INVOLVES (I) COORDINATING THE OPERATION OF THE REGION'S 350 POWER PLANTS AND 9,000 MILES OF HIGH VOLTAGE TRANSMISSION LINES; (II) MANAGING THE MOVEMENT OF HIGH-VOLTAGE ELECTRICITY INTO, WITHIN, AND OUT OF NEW ENGLAND; (III) ENSURING THAT THE SIX-STATE NEW ENGLAND REGION HAS THE POWER SYSTEM RESOURCES NECESSARY TO MEET CONSUMER DEMAND FOR ELECTRICITY AND FEDERALLY-MANDATED RELIABILITY REQUIREMENTS; (IV) COORDINATING HOW TRANSMISSION LINES, GENERATION, AND OTHER RESOURCES CONNECT TO AND OPERATE ON THE POWER GRID RELIABLY; AND (V), WORKING WITH THE INDUSTRY TO DEVELOP TRANSMISSION INFRASTRUCTURE SOLUTIONS THAT ARE ESSENTIAL FOR MAINTAINING POWER SYSTEM RELIABILITY. DURING 2021, ISO-NE COORDINATED THE GENERATION AND TRANSMISSION OF THE 118,664 GIGAWATT-HOURS OF POWER CONSUMED IN THE REGION.
REFERENCE LINE 4C: SCHEDULING SERVICE - THROUGH ITS THIRD ACTIVITY, SCHEDULING SERVICES, ISO-NE FORECASTS AND SCHEDULES THE ELECTRICITY NEEDED IN THE REGION FOR EVERY SECOND OF EVERY DAY AND ENSURES THERE IS ENOUGH ELECTRICITY GENERATED TO MEET DEMAND AND RESOURCES NEEDED TO MAINTAIN STRINGENT RELIABILITY CRITERIA. IN CONDUCTING THIS ACTIVITY, ISO-NE (I) MONITORS THE FLOW OF ELECTRICITY INTO, OUT OF, AND OVER NEW ENGLAND'S HIGH-VOLTAGE TRANSMISSION SYSTEM AND (II) SCHEDULES HUNDREDS OF DIVERSE POWER RESOURCES AND TRANSMISSION COMPONENTS TO SUPPLY JUST THE RIGHT AMOUNT OF ELECTRICITY TO MEET THE REGION'S DEMAND AND REQUIRED RESERVE MARGIN. ISO-NE IS RESPONSIBLE FOR ENSURING THAT THE GRID CAN WITHSTAND THE SUDDEN LOSS OF A POWER PLANT OR TRANSMISSION EQUIPMENT CAUSED BY WEATHER, MECHANICAL FAILURE, OR OTHER TRIGGERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gordon Van Welie President, And Chief Executive Officer | OfficerTrustee | 45 | $1,764,631 |
Vamsi K Chadalavada Executive V.P. And Chief Operating Officer | Officer | 45 | $1,335,964 |
Robert C Ludlow V.P. Chief Financial & Compliance Officer | Officer | 45 | $695,089 |
Peter T Brandien V.P. System Operations & Market Administration | Officer | 45 | $644,487 |
Maria A Gulluni V.P. Gen'l Counsel And Corp. Sec. | Officer | 45 | $572,324 |
Janice S Dickstein V.P. Human Resources | Officer | 45 | $571,507 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Grid Solutions (Us) Llc Dba Ge Renewables Grid Llc Energy Management System Developer | 12/30/21 | $7,837,856 |
Siemens Industry Inc Power System Consulting | 12/30/21 | $1,724,621 |
Mitsubishi Electric Power Products Inc Power System Consulting | 12/30/21 | $2,591,790 |
Rlc Engineering Llc Engineering Services | 12/30/21 | $3,055,643 |
Analysis Group Inc Economic & Fin'l Consulting | 12/30/21 | $1,717,487 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $201,521,263 |
| Investment income | $163,971 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $325 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $201,685,559 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $19,800 |
| 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. | $16,806,965 |
| Compensation of current officers, directors, key employees. | $5,529,022 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $76,810,429 |
| Pension plan accruals and contributions | $13,192,116 |
| Other employee benefits | $8,527,664 |
| Payroll taxes | $5,600,766 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,114,234 |
| Fees for services: Accounting | $614,536 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $144,474 |
| Fees for services: Other | $17,624,688 |
| Advertising and promotion | $0 |
| Office expenses | $2,160,981 |
| Information technology | $17,504,167 |
| Royalties | $0 |
| Occupancy | $5,122,978 |
| Travel | $187,346 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $361,880 |
| Interest | $1,659,331 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $26,221,351 |
| Insurance | $314,455 |
| All other expenses | $146,236 |
| Total functional expenses | $201,685,559 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,413 |
| Savings and temporary cash investments | $160,672,315 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,448,111 |
| 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 | $85,375,464 |
| Net Land, buildings, and equipment | $100,210,697 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $279,933,997 |
| Total assets | $660,644,997 |
| Accounts payable and accrued expenses | $35,076,289 |
| Grants payable | $0 |
| Deferred revenue | $47,728,524 |
| Tax-exempt bond liabilities | $42,890,517 |
| Escrow or custodial account liability | $409,467,838 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $49,984,430 |
| Other liabilities | $75,497,399 |
| Total liabilities | $660,644,997 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $660,644,997 |
Grants Awarded
Over the last fiscal year, Iso New England Inc has awarded $19,800 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Shrewsbury, MA PURPOSE: Support for the College of Engineering Career Center Corporate Partnership Program in the amount of $10,000, and $3,800 for support of three High Tech Scholarship Awards for the Academic Year 2021/2022. | $13,800 |
Piscataway, NJ PURPOSE: Support of the Region 1 recipients for the IEEE PES Scholarship Plus Initiative Fund. | $6,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iso New England Inc Holyoke, MA | $660,644,997 | $201,685,559 |
Vermont Energy Investment Corp Winooski, VT | $38,391,512 | $94,935,292 |
Energy Federation Inc Marlborough, MA | $39,580,023 | $16,691,076 |
Efficiency Forward Inc Medford, MA | $5,907,697 | $9,722,584 |
Center For Ecotechnology Inc Dalton, MA | $5,279,642 | $8,781,564 |
New York City Energy Efficiency Corporation New York, NY | $49,730,328 | $4,961,348 |
Environment Next Inc East Aurora, NY | $24,217,627 | $8,709,351 |
E4thefuture Framingham, MA | $19,416,406 | $1,363,963 |
Northeast Energy Efficiency Partnerships Inc Lexington, MA | $4,479,644 | $4,251,266 |
Deploy-Us Inc Boston, MA | $2,976,414 | $4,253,205 |
Interstate Renewable Energy Council Albany, NY | $3,755,320 | $4,093,970 |
National Wind Technology Consortium Albany, NY | $2,138,543 | $2,465,652 |