Evergreen Climate Innovations
- Assets
- $15.4m
- Revenue
- $4.4m
- Investments
- $0.0
- Employees
- 10
- Location
- Chicago, IL
- Founding
- 03/2011
- Data as of
- 12/2022
- EIN
- 27-2378677
Organization Overview
Evergreen Climate Innovations is located in Chicago, IL. The organization was established in 2011. 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, Evergreen Climate Innovations employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Evergreen Climate Innovations 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, Evergreen Climate Innovations generated $4.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $2.8m during the year ending 12/2022. While expenses have increased by 0.7% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EVERGREEN CLIMATE INNOVATIONS IS A CLEAN TECH ACCELERATOR THAT FUELS INNOVATION TO CREATE A HEALTHIER ENVIRONMENT AND MORE PROSPEROUS FUTURE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE 501VC INVESTMENT PROGRAM IS THE MECHANISM THROUGH WHICH EVERGREEN PROVIDES CATALYTIC CAPITAL AND SUPPORT TO EARLY-STAGE ENTREPRENEURS. THERE ARE THREE COMPONENTS TO THE INVESTMENT PROGRAM: FIND, FUND, AND GROW. "FIND" REPRESENTS THE EFFORT EVERGREEN UNDERTAKES TO IDENTIFY AND RECRUIT HIGH-POTENTIAL ENTREPRENEURS INTO ITS PROGRAMMING. "FUND" REFERS TO THE INVESTMENTS EVERGREEN MAKES IN THE PROMISING STARTUPS FOUNDED BY THESE ENTREPRENEURS. "GROW" DESCRIBES THE ONGOING ENGAGEMENT AND PROGRAMMING EVERGREEN PROVIDES STARTUPS AND ENTREPRENEURS THAT ARE PART OF ITS PORTFOLIO. THIS SUPPORT ENCOMPASSES EDUCATIONAL CONTENT, MENTORING, BUSINESS DEVELOPMENT ASSISTANCE, AND FUNDRAISING SUPPORT.
EVERGREEN RECEIVED A GRANT FROM THE US DEPARTMENT OF ENERGY, ENERGY PROGRAM FOR INNOVATION CLUSTERS(EPIC). THIS PROGRAM HELPS GROW THE MIDWEST ENERGY INNOVATION ECOSYSTEM AND ADVANCED MANUFACTURING ECOSYSTEM. THE INITIATIVES ENABLES BOTH THE DELIVERY OF ASSESSIBLE EDUCATION AND TRAINING RESOURCES, AS WELL AS A COMPREHEVSIVE ACCELERATOR PROGRAMS FOR ENERGY HARDWARE STARTUPS IN THE MIDWEST AND BEYOND.
EVERGREEN RECEIVED A GRANT FROM THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION TO LAUNCH ENTREPRENEURIAL SUPPORT PROGRAMS. CORE IS THE STRUCTURED FUNDRAISING PROGRAM DESIGNED TO CATALYZE ADDITIONAL INVESTMENT FROM INSTITUTIONAL INVESTORS IN A SECTOR AND REGION WHERE RAISING CAPITAL IS EXTREMELY CHALLENGING. WORKING WITH INDIVIDUAL STARTUPS, EVERGREEN HELPS THESE COMPANIES SUCCESSFULLY EXECUTE FUNDRAISING BY ASSESSING INVESTMENT READINESS, HELPING PREPARE FINANCIAL MODELS AND PRESENTATION MATERIALS, SUPPORTING OUTREACH TO FUNDERS, SUPPORTING DUE DILIGENCE REQUESTS FROM POTENTIAL INVESTORS, AND ADVISING ON DEAL TERM NEGOTIATION. THESE ARE TIME CONSUMING ACTIVITIES AND EVERGREEN'S ENGAGEMENT NOT ONLY ENSURES GREATER SUCCESS BUT ALSO FREES TIME FOR THE ENTREPRENEURS TO FOCUS ON THEIR CORE BUSINESSES.
WITH SUPPORT FROM FOUNDATION GRANTS, EVERGREEN LEADS A CLEAN ENERGY EMPLOYMENT TRENDS STUDY ENCOMPASSING A REGION COVERING 12 MIDWEST STATES. THE DATA IS USED TO ILLUSTRATE THE GROWTH AND CONTRIBUTION OF THIS SECTOR TO ECONOMIC DEVELOPMENT AND IS A VALUABLE RESOURCE TO POLICYMAKERS AND LEGISLATORS. THE CLEAN JOBS MIDWEST STUDY IS A COMPONENT OF A LARGER NATIONAL STUDY CONDUCTED BY A CONSORTIUM OF PARTNERS, ENCOMPASSING ALL 50-STATES AND THE DISTRICT OF COLUMBIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Francetic Chair | OfficerTrustee | 1 | $0 |
Karen Kerr Treasurer | OfficerTrustee | 1 | $0 |
Tim Stoijka Development Chair | Trustee | 1 | $0 |
Sanjeev Krishnan Development Committee | Trustee | 1 | $0 |
Dr Cheryl Martin Development Committee | Trustee | 1 | $0 |
Andrew Schwertfeger Development Committee | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Resolute Consulting Marketing And Public Relations | 12/30/15 | $195,125 |
Freshwater Advisors Consultants | 12/30/15 | $150,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $232,835 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,847,870 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,080,705 |
| Total Program Service Revenue | $101,727 |
| Investment income | $130,469 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,000 |
| Net Gain/Loss on Asset Sales | $89,958 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,404,859 |
| 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. | $266,380 |
| Compensation of current officers, directors, key employees. | $26,638 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,084,068 |
| Pension plan accruals and contributions | $6,873 |
| Other employee benefits | $144,851 |
| Payroll taxes | $85,543 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,124 |
| Fees for services: Accounting | $79,452 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $247,012 |
| Advertising and promotion | $76,203 |
| Office expenses | $37,100 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $97,272 |
| Travel | $24,294 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $23,196 |
| Interest | $32,939 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $59,469 |
| Insurance | $26,044 |
| All other expenses | $7,059 |
| Total functional expenses | $2,788,904 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,980,106 |
| Savings and temporary cash investments | $150,551 |
| Pledges and grants receivable | $1,736,601 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,975,044 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $30,352 |
| Net Land, buildings, and equipment | $78,728 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $8,199,937 |
| Intangible assets | $0 |
| Other assets | $265,847 |
| Total assets | $15,417,166 |
| Accounts payable and accrued expenses | $82,654 |
| 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 | $3,150,000 |
| Unsecured mortgages and notes payable | $1,000 |
| Other liabilities | $0 |
| Total liabilities | $3,233,654 |
| Net assets without donor restrictions | $10,134,410 |
| Net assets with donor restrictions | $2,049,102 |
| 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 | $15,417,166 |
Grants Awarded
Over the last fiscal year, Evergreen Climate Innovations has awarded $90,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
AEROSPEC TECHNOLOGIES PURPOSE: DOE 570 STUDENT PRIZE | $50,000 |
SUN BUCKETS INC PURPOSE: 2017 CHALLENGE PRIZE | $40,000 |