Sustainable Energy Utility Inc
- Assets
- $151.0m
- Revenue
- $34.8m
- Investments
- $0.0
- Employees
- 8
- Location
- Dover, DE
- Founding
- 06/2009
- Data as of
- 06/2022
- EIN
- 26-3963904
Organization Overview
Sustainable Energy Utility Inc, operating under the name Delaware Sustainable Energy Utility, is located in Dover, DE. 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. As of 06/2022, Delaware Sustainable Energy Utility employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Delaware Sustainable Energy Utility 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 06/2022, Delaware Sustainable Energy Utility generated $34.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $18.8m during the year ending 06/2022. While expenses have increased by 10.6% 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, Delaware Sustainable Energy Utility has awarded 126 individual grants totaling $51,079,085. 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
TO SERVE THE SUSTAINABLE ENERGY NEEDS OF ALL DELAWARE ENERGY CONSUMERS USING ALL FUELS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO SERVE THE SUSTAINABLE ENERGY NEEDS OF ALL DELAWARE ENERGY CONSUMERS USING ALL FUELS
TO SERVE THE SUSTAINABLE ENERGY NEEDS OF ALL DELAWARE ENERGY CONSUMERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Senator Harris B Mcdowell III Co-Founder/c | OfficerTrustee | $0 | |
Kristopher E Knight Treasurer/se | OfficerTrustee | $0 | |
Sean Finnigan Board Member | Trustee | $0 | |
Michael J Chajes PHD Board Member | Trustee | $0 | |
W Charles Paradee III Board Member | Trustee | $0 | |
Shawn M Garvin Board Member | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $25,126,281 |
| 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 | $25,126,281 |
| Total Program Service Revenue | $8,927,831 |
| Investment income | $738,945 |
| 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 | $34,793,273 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,002,515 |
| 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. | $128,500 |
| Compensation of current officers, directors, key employees. | $128,500 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $407,627 |
| Pension plan accruals and contributions | $36,859 |
| Other employee benefits | $25,261 |
| Payroll taxes | $40,017 |
| Fees for services: Management | $51,463 |
| Fees for services: Legal | $16,840 |
| Fees for services: Accounting | $60,166 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $15,065 |
| Fees for services: Other | $8,375,033 |
| Advertising and promotion | $320,165 |
| Office expenses | $6,517 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $64,975 |
| Travel | $13,564 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,697,800 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $602 |
| Insurance | $18,155 |
| All other expenses | $30,841 |
| Total functional expenses | $18,813,221 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,071,204 |
| Savings and temporary cash investments | $37,442,311 |
| Pledges and grants receivable | $70,203,872 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $35,949,491 |
| Inventories for sale or use | $38,024 |
| Prepaid expenses and deferred charges | $3,367,005 |
| Net Land, buildings, and equipment | $147 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $933,788 |
| Total assets | $151,005,842 |
| Accounts payable and accrued expenses | $2,979,915 |
| Grants payable | $0 |
| Deferred revenue | $391,833 |
| Tax-exempt bond liabilities | $63,765,000 |
| 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 | $1,028,938 |
| Other liabilities | $0 |
| Total liabilities | $68,165,686 |
| Net assets without donor restrictions | $82,726,756 |
| Net assets with donor restrictions | $113,400 |
| 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 | $151,005,842 |
Grants Awarded
Over the last fiscal year, Sustainable Energy Utility Inc has awarded $6,951,265 in support to 16 organizations.
| Grant Recipient | Amount |
|---|---|
FRANKLIN ENERGY SERVICES LLC | | | $4,420,000 |
Dover, DE | | $684,353 |
Boston, MA | | $406,158 |
HABITAT FOR HUMANITY - SUSSEX | | | $354,668 |
HABITAT FOR HUMANITY - NEW CASTLE | | | $316,667 |
ARCA RECYCLING INC | | | $125,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sustainable Energy Utility Inc has recieved totaling $950,000.
| Awarding Organization | Amount |
|---|---|
Delaware Community Foundation Wilmington, DE PURPOSE: RESTRICTED TO SUPPORT ENERGY EFFICIENCY PROJECTS IN THE DELMARVA POWER SERVICE TERRITORY. | $950,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sustainable Energy Utility Inc Dover, DE | $151,005,842 | $34,793,273 |
Green Mountain Energy Sun Club Princeton, NJ | $0 | $1,158,123 |
Chesapeake Climate Action Network Takoma Park, MD | $2,554,371 | $2,158,684 |
Conservation Consultants Pittsburgh, PA | $941,687 | $805,109 |
Home Performance Coalition Inc Moon Township, PA | $723,815 | $1,280,136 |
Montgomery County Green Bank Corporation Rockville, MD | $24,128,880 | $933,131 |
International Institute For Energy Conservation Inc Breinigsville, PA | $432,705 | $1,459,901 |
Marec Action Camden, DE | $653,349 | $797,998 |
Clean Fuel Development Coalition Potomac, MD | $115,422 | $632,707 |
Pump Systems Matter Inc Parsipanny, NJ | $724,604 | $525,671 |
The Energy Efficiency Alliance Philadelphia, PA | $284,653 | $601,017 |
Solhomes Chevy Chase, MD | $50,345 | $214,572 |