Virginia Renewable Energy Alliance
- Assets
- $237.3k
- Revenue
- $284.6k
- Investments
- $0.0
- Employees
- 2
- Location
- Richmond, VA
- Founding
- Data as of
- 12/2023
- EIN
- 26-4134317
Organization Overview
Virginia Renewable Energy Alliance is located in Richmond, VA. As of 12/2023, Virginia Renewable Energy Alliance employed 2 individuals. Virginia Renewable Energy Alliance is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Virginia Renewable Energy Alliance generated $284.6k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 33.3% each year . All expenses for the organization totaled $245.1k during the year ending 12/2023. While expenses have increased by 26.4% 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
THE VIRGINIA RENEWABLE ENERGY ALLIANCE (VA-REA) PROMOTES THE DEVELOPMENT, USE, AND COMMERCIALIZATION OF RENEWABLE ENERGY TO INCREASE BUSINESS OPPORTUNITIES FOR INDUSTRY TO HELP ACHIEVE THE COMMONWEALTH'S GROWING ENERGY DEMANDS WHILE ALSO IMPROVING THE COMMONWEALTH'S OVERALL ECONOMY AND ENVIRONMENT AND PROMOTING EDUCATION ON RENEWABLE ENERGY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGHOUT 2023, VA-REA ACTIVELY PROMOTED THE DEVELOPMENT OF RENEWABLE ENERGY IN THE COMMONWEALTH OF VIRGINIA BY SPONSORING A SERIES OF EDUCATIONAL EVENTS. IN APRIL, VA-REA ORGANIZED A LEADERSHIP IN ENERGY ADVANCEMENT & DEVELOPMENT (LEAD) CONFERENCE FOCUSED ON PROVIDING A GENERAL ASSEMBLY RECAP ON 2023 ENERGY BILLS. IN OCTOBER, VA-REA CO-HOSTED THE FIFTH ANNUAL VIRGINIA CLEAN ENERGY SUMMIT IN COLLABORATION WITH FIVE OTHER ORGANIZATIONS, HANDLING THE EVENT LOGISTICS. DECEMBER SAW VA-REA HOSTING ITS ANNUAL NETWORKING EVENT AND MEMBERS MEETING, WHERE THEY ALSO PRESENTED THE VIRGINIA RENEWABLE ENERGY AWARD.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cliona Mary Robb Chair | Officer | 1 | $0 |
Carrie Hearne Vice Chair | Officer | 1 | $0 |
Kevin Comer Treasurer | Officer | 1 | $0 |
Kirk Johnson Secretary | Officer | 1 | $0 |
Tyson Utt Imm Past Cha | Officer | 1 | $0 |
Alex Thorup Director | Trustee | 1 | $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 | $284,584 |
| 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 | $284,584 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $5,000 |
| 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 | $70,218 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $6,498 |
| Payroll taxes | $5,482 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,074 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $524 |
| Office expenses | $13 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $241 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,042 |
| All other expenses | $220 |
| Total functional expenses | $245,085 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $222,778 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,125 |
| 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 | $3,392 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $237,295 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $11,125 |
| 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 | $0 |
| Total liabilities | $11,125 |
| Net assets without donor restrictions | $226,170 |
| 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 | $237,295 |