Poweroptions Inc
- Assets
- $8.3m
- Revenue
- $3.8m
- Investments
- $0.0
- Employees
- 16
- Location
- Boston, MA
- Founding
- 03/2017
- Data as of
- 06/2023
- EIN
- 22-3041893
Organization Overview
Poweroptions Inc is located in Boston, MA. The organization was established in 2017. According to its NTEE Classification (P20) the organization is classified as: Human Service Organizations, under the broad grouping of Human Services and related organizations. As of 06/2023, Poweroptions Inc employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Poweroptions 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 06/2023, Poweroptions Inc generated $3.8m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $3.7m during the year ending 06/2023. 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
TO EMPOWER NON-PROFITS AND PUBLIC ENTITIES WITH SOLUTIONS TO REDUCE THE COST, CARBON, AND COMPLEXITY OF ENERGY. BY LEVERAGING THE CONSORTIUM, AND THROUGH OUR EXPERTISE AND ADVOCACY, WE ENABLE OUR MEMBERS TO FOCUS ON THEIR OWN IMPORTANT MISSIONS AND COMMUNITIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
POWEROPTIONS CONDUCTS COMPETITIVE PROCUREMENTS FOR ENERGY AND ENERGY RELATED SERVICES ON BEHALF OF THE CONSORTIUM OF MORE THAN 450 MEMBERS. THIS REQUIRES THE HIRING OF CONSULTANTS AND LEGAL SERVICES TO EVALUATE AND NEGOTIATE THE TERMS AND CONDITIONS FOR THE MEMBERS. ON AN ON-GOING BASIS, POWEROPTIONS STAFF FACILITATES THE ADMINISTRATION AND THE MARKETING OF THE PROGRAM, ASSISTS MEMBERS WITH BILLING DISPUTES WITH THE SUPPLIERS AND DEVELOPS NEW PROGRAM OPTIONS FOR THE CONSORTIUM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Heather Takle President And CEO | Officer | 40 | $352,493 |
Margaret Lusardi Executive Vice President | Officer | 40 | $248,161 |
Liam Sullivan Vice President Of Marketing | 40 | $165,211 | |
Rita A Moran Greinman Business Development Manager | 40 | $147,753 | |
Kristen A Patneaude Director Of Innovation | 40 | $132,215 | |
Erin Camp Esa Program Manager | 40 | $118,847 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Howell Energy Consulting Llc Energy Consultant | 6/29/18 | $136,852 |
Brown Rudnick Llp Legal | 6/29/18 | $111,562 |
Global Strategy Group Llc Strategic Communications | 6/29/18 | $131,637 |
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 | $3,524,367 |
| Investment income | $157,007 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $108,130 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,789,504 |
| 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. | $712,474 |
| Compensation of current officers, directors, key employees. | $71,247 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,273,794 |
| Pension plan accruals and contributions | $101,657 |
| Other employee benefits | $191,455 |
| Payroll taxes | $146,867 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $216,707 |
| Fees for services: Accounting | $101,783 |
| Fees for services: Lobbying | $30,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $50,811 |
| Fees for services: Other | $338,786 |
| Advertising and promotion | $67,466 |
| Office expenses | $8,520 |
| Information technology | $82,204 |
| Royalties | $0 |
| Occupancy | $80,171 |
| Travel | $21,182 |
| 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 | $9,170 |
| Insurance | $24,847 |
| All other expenses | $216,879 |
| Total functional expenses | $3,674,773 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $612,137 |
| Savings and temporary cash investments | $29,676 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $211,974 |
| 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 | $45,977 |
| Net Land, buildings, and equipment | $18,488 |
| Investments—publicly traded securities | $7,276,442 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $96,082 |
| Total assets | $8,290,776 |
| Accounts payable and accrued expenses | $502,605 |
| Grants payable | $0 |
| Deferred revenue | $402,845 |
| 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 | $74,485 |
| Total liabilities | $979,935 |
| Net assets without donor restrictions | $7,310,841 |
| 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 | $8,290,776 |
Grants Awarded
Over the last fiscal year, Poweroptions Inc has awarded $200,000 in support to 20 organizations.
| Grant Recipient | Amount |
|---|---|
YOUTH OPPORTUNITIES UPHELD INC PURPOSE: AWARD AS PART OF POWEROPTIONS' TWENTIETH ANNIVERSARY | $10,000 |
WINCHENDON HOUSING AUTHORITY PURPOSE: AWARD AS PART OF POWEROPTIONS' TWENTIETH ANNIVERSARY | $10,000 |
SHRINERS HOSPITALS FOR CHILDREN BOSTON PURPOSE: AWARD AS PART OF POWEROPTIONS' TWENTIETH ANNIVERSARY | $10,000 |
WORK INC PURPOSE: AWARD AS PART OF POWEROPTIONS' TWENTIETH ANNIVERSARY | $10,000 |
CHARLES RIVER CENTER PURPOSE: AWARD AS PART OF POWEROPTIONS' TWENTIETH ANNIVERSARY | $10,000 |
NEW BEDFORD HOUSING AUTHORITY PURPOSE: AWARD AS PART OF POWEROPTIONS' TWENTIETH ANNIVERSARY | $10,000 |