Necec Institute Inc
- Assets
- $425.8k
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Somerville, MA
- Founding
- 09/2009
- Data as of
- 12/2022
- EIN
- 20-5961645
Organization Overview
Necec Institute Inc is located in Somerville, MA. The organization was established in 2009. According to its NTEE Classification (C35) the organization is classified as: Energy Resources Conservation & Development, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Necec Institute 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 12/2022, Necec Institute Inc generated $1.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $1.6m during the year ending 12/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Necec Institute Inc has awarded 26 individual grants totaling $288,500. 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
NECEC LEADS THE JUST, EQUITABLE AND RAPID TRANSITION TO A CLEAN ENERGY FUTURE AND DIVERSE CLIMATE ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN NECEC'S POLICY AND GOVERNMENT AFFAIRS INITIATIVES, THE INSTITUTE LEADS PLANNING AND BROAD EDUCATION AND RELATED EFFORTS, WHILE THE COUNCIL LEADS IN LEGISLATIVE ADVOCACY AND RELATED CONVENINGS. NECEC'S COMBINED POLICY EFFORTS FOCUS ON ADVANCING THE NORTHEAST US'S VALUABLE MARKETS IN:- GRID MODERNIZATION & 21ST CENTURY ELECTRICITY SYSTEM (INCLUDINGRATE CASE INITIATIVES)- DISTRIBUTED CLEAN ENERGY RESOURCES, INCLUDING SOLAR, ENERGYSTORAGE, EFFICIENCY, AND BUILDING TECHNOLOGIES- GRID-SCALE RENEWABLES - ONSHORE WIND, OFFSHORE WIND, GRID-SCALESOLAR- CLIMATE & GREENHOUSE GAS MARKETS- NORTHEAST CLEAN TRANSPORTATION SOLUTIONS
COMMUNICATIONS, MEMBERSHIPS, EVENTS AND SPECIAL PROJECTS.
NECEC'S CLEANTECH NAVIGATE NORTHEAST (NAVIGATE) PROGRAM LEVERAGES THE POWER OF NECEC'S NETWORKS TO PROVIDE CLEANTECH STARTUPS ACCESS TO RESOURCES AND BUSINESS SUPPORT TO GROW AND SCALE. WORKING WITH DOZENS OF PARTNER ORGANIZATIONS (THE NAVIGATE INNOVATION PARTNERS) INCLUDING INCUBATORS, ACCELERATORS, AND ASSOCIATIONS, NAVIGATE HELPS PARTNERS AND THEIR PORTFOLIO STARTUPS GET TO THE NEXT STAGE OF THEIR GROWTH THROUGH ITS UNIQUE SERVICES AND EVENTS.
CLEANTECH OPEN IS THE OLDEST AND LARGEST CLEANTECH STARTUP ACCELERATOR PROGRAM, WITH THE MISSION TO FIND, FUND, AND FOSTER ENTREPRENEURS WITH IDEAS TO SOLVE OUR GREATEST ENVIRONMENTAL AND ENERGY CHALLENGES. THROUGH OUR ANNUAL BUSINESS COMPETITION AND ACCELERATOR PROGRAM, WE CONNECT CLEANTECH STARTUPS WITH THE PEOPLE AND RESOURCES THAT WILL ACCELERATE THEIR SUCCESS, AND PROVIDE A NATIONAL PLATFORM FOR PUBLIC VISIBILITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joseph Curtatone President | Officer | 18 | $0 |
Jeremy Mcdiarmid VP Policy & Government Affairs | Officer | 30 | $0 |
Alistair Pim Vp, Innovation & Partnerships | Officer | 22 | $0 |
Kristen Stelljes VP Learning And Org Effectiveness | Officer | 21 | $0 |
Peter Rothstein Past Board Member | Trustee | 1 | $0 |
Dan Goldman Chairman | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $33,406 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $52,835 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,354,274 |
| Noncash contributions included in lines 1a–1f | $2,664 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,440,515 |
| Total Program Service Revenue | $28,784 |
| Investment income | $4,282 |
| 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 | $1,475,117 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $50,000 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $1,128,074 |
| Fees for services: Legal | $57,144 |
| Fees for services: Accounting | $44,372 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $147,266 |
| Advertising and promotion | $0 |
| Office expenses | $8,741 |
| Information technology | $17,022 |
| Royalties | $0 |
| Occupancy | $25,025 |
| Travel | $22,679 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,905 |
| Interest | $159 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,819 |
| All other expenses | $0 |
| Total functional expenses | $1,645,231 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $158,018 |
| Savings and temporary cash investments | $44,952 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $158,623 |
| 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 | $7,010 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $57,166 |
| Total assets | $425,769 |
| Accounts payable and accrued expenses | $44,670 |
| Grants payable | $0 |
| Deferred revenue | $23,042 |
| 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 | $174,869 |
| Total liabilities | $242,581 |
| Net assets without donor restrictions | -$31,720 |
| Net assets with donor restrictions | $214,908 |
| 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 | $425,769 |
Grants Awarded
Over the last fiscal year, Necec Institute Inc has awarded $40,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
KASAVA ENGINEERING CORPORATION PURPOSE: 2022 CTO Regional Winner | $10,000 |
HIT NANO INC PURPOSE: 2022 CTO Regional Winner | $10,000 |
VERDE TECHNOLOGIES INC PURPOSE: 2022 CTO Regional Winner | $10,000 |
NTP TECHNOLOGIES INC PURPOSE: 2022 CTO Regional Winner | $10,000 |