Ahead Energy Corporation
- Assets
- $1.6m
- Revenue
- $460.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, NY
- Founding
- 10/1990
- Data as of
- 05/2023
- EIN
- 22-3018053
Organization Overview
Ahead Energy Corporation is located in Rochester, NY. The organization was established in 1990. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ahead Energy Corporation 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 05/2023, Ahead Energy Corporation generated $460.9k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 46.5% each year . All expenses for the organization totaled $212.8k during the year ending 05/2023. While expenses have increased by 16.1% per year over the past 4 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
AHEAD ENERGY IS FOCUSED ON R&D, DEVELOPMENT AND DEMONSTRATION OF CLIMATE FRIENDLY ENERGY SYSTEMS FOR REMOTE/OFF-GRID AREAS. AHEAD WAS FORMED IN 1988 TO CONSULT ON AND IMPLEMENT ENERGY SYSTEMS IN UNDERSERVED, OFF-GRID AREAS OF AFRICA. WE NOW HAVE A MORE GLOBAL FOCUS, RELATED TO THE TRANSITION TO WIND AND SOLAR POWER, AND HYDROGEN/FUEL CELLS (INCLUDING RENEWABLE HYDROGEN CARRIERS SUCH AS METHANOL AND AMMONIA), PLUS OTHER FORMS OF STORAGE INCLUDING BATTERIES AND THERMAL ENERGY STORAGE. AHEAD OWNS AND MANAGES A UNIQUE MULTI-USER FACILITY IN ROCHESTER, NY - WHICH IS AFFILIATED WITH ALFRED UNIVERSITY. AHEAD'S WORK REMAINS RELEVANT TO DEVELOPING COUNTRIES, BUT THE TECHNOLOGIES HAVE POTENTIAL APPLICATION IN REMOTE AREAS IN THE USA AND MANY OTHER COUNTRIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MAINTAINED AND OPERATED OUR R&D FACILITY FOR CURRENT USERS AND THEIR PROJECTS. A PREVIOUS ASSET RETIREMENT OBLIGATION WAS PARTIALLY REVERSED, BASED ON AN OPTION TO CANCEL PERIOD EXPIRING WITH A FACILITY USER, WHO RESTARTED THE LABS FOR FUEL CELL AND ELECTROLYZER MEMBRANE R&D. THE BUILDING AND ITS INFRASTRUCTURE ARE NOW BEING CARRIED AT A VALUE CONSISTENT WITH A RECENT APPRAISAL, AND IS HELD FOR SALE TO FREE UP ASSETS FOR R&D AND DEMONSTRATION PROJECTS, OR TO DEVELOP A SMALLER FACILITY WHICH IS SUITABLE FOR VOCATIONAL TRAINING.
PURGE LABS, SCRAPPING OR DONATING CERTAIN TEST STAND EQUIPMENT TO ALFRED UNIVERSITY, IN PREPARATION FOR NEW FACILITY USER - FOR R&D AND DEMONSTRATION OF LOW CARBON TECHNOLOGIES. BUILDING MAY BE SOLD OR REFINANCED IN 2023.
MEMBER AND BOARD PARTICIPATION IN THE AMMONIA ENERGY ASSOCIATION, A GROUP WHICH IS SUPPORTING THE USE OF AMMONIA AS A CARBON-FREE ENERGY CARRIER MADE FROM HYDROGEN (FROM ELECTROLYZERS) AND NITROGEN (FROM AIR SEPARATION). AN OBJECTIVE IS TO MAKE AHEAD'S FACILITY AVAILABLE FOR SYSTEM INTEGRATION AND DEMONSTRATION OF AMMONIA-BASED MICROGRID SOLUTIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Eleanor Rusling Executive Director | Officer | 20 | $36,000 |
Malcolm Grieve Chairman And Acting Treasurer | OfficerTrustee | 20 | $0 |
Manfred Niethammer Vice Chairman | OfficerTrustee | 2 | $0 |
David Johnston Director | Trustee | 2 | $0 |
Colonel Johann Clendenin Director | Trustee | 2 | $0 |
Paul Jordan Director | Trustee | 2 | $0 |
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 | $215,091 |
| Investment income | $0 |
| 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 | $460,888 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $36,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,139 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $9,436 |
| Fees for services: Accounting | $763 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,481 |
| Advertising and promotion | $32 |
| Office expenses | $15,647 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $34,633 |
| Travel | $300 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $65,790 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $14,835 |
| All other expenses | $0 |
| Total functional expenses | $212,820 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,944 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,690 |
| 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 | $0 |
| Net Land, buildings, and equipment | $1,527,405 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,619,039 |
| Accounts payable and accrued expenses | $24,999 |
| 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 | $936,035 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $232,693 |
| Total liabilities | $1,193,727 |
| 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 | $425,312 |
| Total liabilities and net assets/fund balances | $1,619,039 |