New England States Committee On Electricity
- Assets
- $2.1m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 7
- Location
- Osterville, MA
- Founding
- 02/2011
- Data as of
- 12/2023
- EIN
- 27-4343680
Organization Overview
New England States Committee On Electricity, operating under the name Nescoe Inc, is located in Osterville, MA. The organization was established in 2011. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Nescoe Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nescoe Inc is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 12/2023, Nescoe Inc generated $1.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $1.5m during the year ending 12/2023. While expenses have increased by 0.5% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
NESCOE IS RECOGNIZED BY THE FEDERAL ENERGY REGULATORY COMMISSION AS NEW ENGLAND'S REGIONAL STATE COMMITTEE. NESCOE'S MISSION IS TO REPRESENT THE INTERESTS OF THE CITIZENS OF THE REGION BY ADVANCING POLICIES DESIGNED TO PROVIDE ELECTRICITY AT THE LOWEST POSSIBLE PRICE OVER THE LONG TERM, CONSISTENT WITH MAINTAINING RELIABLE SERVICE AND ENVIRONMENTAL QUALITY. NESCOE SEEKS TO ACCOMPLISH ITS OBJECTIVES IN THE CONTEXT OF A COMPETITIVE WHOLESALE ELECTRICITY MARKET, AND IT STRIVES TO ADVANCE ITS MISSION THROUGH COLLABORATIVE WORK WITH ISO-NE, THE NEW ENGLAND POWER POOL, AND OTHER REGIONAL STAKEHOLDERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THROUGHOUT 2023, NESCOE REPRESENTED THE COLLECTIVE VIEWS OF THE NEW ENGLAND STATES, AND REGULARLY PLAYED AN IMPORTANT ROLE IN SUBSTANTIVE NEW ENGLAND REGIONAL STAKEHOLDER FORUMS. THIS INCLUDED NESCOE'S REGULAR PARTICIPATION IN NEW ENGLAND POWER POOL'S PARTICIPANTS, RELIABILITY, TRANSMISSION, AND MARKETS COMMITTEE MEETINGS. NESCOE ALSO OFFERED PROPOSALS IN CONNECTION WITH PLANNING AND MARKET RULE CHANGES TO ADVANCE CONSUMER INTERESTS AND STATES' SHARED ENERGY OBJECTIVES. ADDITIONALLY, NESCOE PARTICIPATED IN ISO NEW ENGLAND'S PLANNING ADVISORY COMMITTEE AND POWER SUPPLY PLANNING COMMITTEE. NESCOE ALSO MONITORED VARIOUS WORKING GROUPS. IN 2023, NESCOE PARTICIPATED IN ISO NEW ENGLAND FORUMS AND FEDERAL JURISDICTIONAL MATTERS CONCERNING RESOURCE ADEQUACY AND SYSTEM PLANNING- RELATED ISSUES WITH SIGNIFICANT IMPLICATIONS FOR NEW ENGLAND CONSUMERS. IN 2023, NESCOE WAS ACTIVE IN VARIOUS TRANSMISSION-RELATED MATTERS. FOR EXAMPLE, NESCOE FILED DETAILED COMMENTS FOLLOWING THE FEDERAL ENERGY REGULATORY COMMISSION'S (FERC) TECHNICAL CONFERENCE IN CONNECTION WITH ITS TRANSMISSION PLANNING AND COST MANAGEMENT AND JOINT FEDERAL-STATE TASK FORCE ON ELECTRIC TRANSMISSION. ADDITIONALLY, IN 2023, NESCOE BEGAN DISCUSSIONS WITH TRANSMISSION OWNERS AND OTHER STAKEHOLDERS REGARDING IMPROVING THE TRANSPARENCY, REVIEW, AND SCRUTINY OF ASSET CONDITION PROJECTS. THESE PROJECTS REPRESENT THE LARGEST COST CATEGORY OF TRANSMISSION PROJECTS CONSUMERS ULTIMATELY PAY, AND HAVE LITTLE TO NO MEANINGFUL REGULATORY OVERSIGHT. IN 2023, NESCOE WAS ACTIVE IN FERC'S NEW ENGLAND GAS-ELECTRIC FORUM, WITH NESCOE MANAGERS PARTICIPATING IN THE FORUM. NESCOE FILED COMMENTS WITH FERC THAT ADVOCATED FOR FERC TO LEAD A PROCESS TO STUDY AND ASSESS THE OPERATIONAL INTERPLAY BETWEEN THE INTERSTATE GAS AND ELECTRIC SYSTEMS AND INVESTIGATE HOW CHANGES TO THE ELECTRIC SYSTEM ARE LIKELY TO CHANGE GAS SYSTEM NEEDS AS NEW ENGLAND TRANSITIONS AWAY FROM ITS RELIANCE ON FOSSIL FUELS. LIKE PAST YEARS, IN 2023, NESCOE DEDICATED TIME TO ENSURING THAT NEW ENGLAND CONSUMER INTERESTS WERE REPRESENTED IN CONNECTION WITH A UNIQUE COST-OF-SERVICE CONTRACT FOR TWO RETIRING GENERATING UNITS LOCATED JUST OUTSIDE OF BOSTON. THE D.C. CIRCUIT COURT OF APPEALS ACTED FAVORABLY ON EVERY ISSUE ON WHICH NESCOE HAD PETITIONED THE COURT FOR REVIEW, WITH MILLIONS OF DOLLARS IN COST IMPLICATIONS. NESCOE ALSO PARTICIPATED IN A COMMISSION-ORDERED HEARING IN LATE 2023, AND SETTLEMENT DISCUSSIONS WITH ALL INTERESTED PARTIES IN EARLY 2023 WHICH RESULTED IN A NESCOE-SUPPORTED FERC APPROVED SETTLEMENT AGREEMENT. NESCOE CONTINUED TO REVIEW AND CHALLENGE, WHERE NECESSARY, CLAIMED COSTS IN 2023 FOR THAT PERIOD OF THE CONTRACT TERM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katie Dykes Connecticut Manager | Trustee | 5 | $0 |
Phillip Bartlett II Maine Manager | Trustee | 5 | $0 |
Jason Marshall Massachusetts Manager | Trustee | 5 | $0 |
Matthew Nelson Massachusetts Manager (thr | Trustee | 5 | $0 |
Patrick Woodcock Massachusetts Manager (thr | Trustee | 5 | $0 |
Jared Chicoine New Hampshire Manager | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Exeter Associates Inc Technical Cons | 12/30/20 | $105,838 |
Phyllis G Kimmel Law Office Pllc Legal Ferc | 12/30/20 | $130,663 |
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 | $1,496,613 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,496,613 |
| Total Program Service Revenue | $0 |
| Investment income | $26,408 |
| 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 | $1,523,021 |
| 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. | $228,176 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $682,924 |
| Pension plan accruals and contributions | $38,959 |
| Other employee benefits | $59,787 |
| Payroll taxes | $64,721 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,053 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,057 |
| Fees for services: Other | $6,567 |
| Advertising and promotion | $0 |
| Office expenses | $1,476 |
| Information technology | $1,380 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $48,191 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $115 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,743 |
| Insurance | $7,331 |
| All other expenses | $0 |
| Total functional expenses | $1,490,069 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $168,440 |
| Savings and temporary cash investments | $1,685,829 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $222,163 |
| 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 | $0 |
| Net Land, buildings, and equipment | $10,927 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,087,359 |
| Accounts payable and accrued expenses | $118,097 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $118,097 |
| Net assets without donor restrictions | $1,969,262 |
| 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 | $2,087,359 |