Innovation Center For Energy And Transportation
- Assets
- $405.7k
- Revenue
- $312.8k
- Investments
- $0.0
- Employees
- 2
- Location
- Los Angeles, CA
- Founding
- 10/2008
- Data as of
- 12/2022
- EIN
- 26-2619591
Organization Overview
Innovation Center For Energy And Transportation is located in Los Angeles, CA. The organization was established in 2008. 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 12/2022, Innovation Center For Energy And Transportation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Innovation Center For Energy And Transportation 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, Innovation Center For Energy And Transportation generated $312.8k 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 (8.4%) each year. All expenses for the organization totaled $496.2k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.0%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE CLEAN ENERGY AND SUSTAINABLE TRANSPORTATION TO MITIGATE CLIMATE CHANGE AROUND THE WORLD.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRANSPORTATION: ICET PROMOTES TRANSPORTATION ELECTRIFICATION POLICIES AND ZERO EMISSION VEHICLE IDEAS AROUND THE GLOBE TO ACHIEVE REAL INCREASES IN ELECTRIC VEHICLE SALES AND REDUCTIONS IN GREENHOUSE GAS EMISSIONS. THE SPECIFIC TASKS UNDER THIS PROGRAM ARE: 1. TRANSPORTATION ELECTRIFICATION ROADMAP DEVELOPMENT 2. VEHICLE FUEL CONSUMPTION STANDARDS AND POLICIES 3.ELECTRIC VEHICLE PROMOTION AND POLICY RESEARCH.
CLIMATE CHANGE: WITH SUPPORT FROM PHILANTHROPIC FOUNDATIONS AND MULTILATERAL AGENCIES, ICET IS WORKING WITH PARTNERS IN GOVERNMENTS AND BUSINESS TO DEVELOP AND PROMOTE ENERGY AND CARBON MANAGEMENT BEST PRACTICES TO REDUCE ENERGY USE AND GREENHOUSE GAS EMISSIONS FROM CORPORATIONS AS WELL AS LOCAL ECONOMIC DEVELOPMENT AREAS. ICET IS DEVELOPING A CLIMATE FINANCING MECHANISM TO REDUCE GHG EMISSIONS FROM COOLING SECTOR. THE GOAL OF THIS WORKING AREA IS TO PRODUCE RELIABLE,CONSISTENT AND VERIFIABLE PROGRESS AND INFORMATION ON ENERGY CONSUMPTION AND CARBON EMISSIONS ON THE CORPORATION AND LOCAL MUNICIPALITY LEVEL.
CLEAN ENERGY: ICET PROMOTES U.S. CLEAN ENERGY AND ENVIRONMENTAL TECHNOLOGIES IN EMERGING MARKETS, AND PROVIDES SERVICES FOR US FIRMS TO SHOWCASE THEIR PRODUCTS & SERVICES IN ASIAN AND GREATER CHINA MARKETS IN ORDER TO INCREASE MARKET DEMAND AND SALES FOR US CLEAN TECH COMPANIES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Feng An Directorpresident | OfficerTrustee | 40 | $108,000 |
Fu Qiang Yang Director | Trustee | 0 | $0 |
Robyn Camp Director | Trustee | 0 | $0 |
Jim D Boyd Director | Trustee | 0 | $0 |
Kate Blumberg Director | Trustee | 0 | $0 |
John Decicco Director | Trustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $60,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $303,781 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $363,781 |
| Total Program Service Revenue | $0 |
| Investment income | $1,275 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$52,248 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $312,808 |
| 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 | $190,000 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $108,000 |
| Compensation of current officers, directors, key employees. | $12,960 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $54,000 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $22,550 |
| Payroll taxes | $12,617 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $245 |
| Advertising and promotion | $0 |
| Office expenses | $9,762 |
| Information technology | $4,832 |
| Royalties | $0 |
| Occupancy | $43,301 |
| Travel | $16,494 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,881 |
| Interest | $4,306 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,327 |
| Insurance | $2,022 |
| All other expenses | $3,597 |
| Total functional expenses | $496,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,740 |
| Savings and temporary cash investments | $79,482 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $100,000 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $100,000 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $3,220 |
| Investments—publicly traded securities | $80,304 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $405,746 |
| Accounts payable and accrued expenses | $10,262 |
| 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 | $146,715 |
| Other liabilities | $6,665 |
| Total liabilities | $163,642 |
| Net assets without donor restrictions | $42,104 |
| Net assets with donor restrictions | $200,000 |
| 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 | $405,746 |