Ct Energy Efficiency Finance Company
- Assets
- $31.4m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Wallingford, CT
- Founding
- 12/2012
- Data as of
- 03/2022
- EIN
- 45-2412035
Organization Overview
Ct Energy Efficiency Finance Company is located in Wallingford, CT. The organization was established in 2012. According to its NTEE Classification (C35) the organization is classified as: Energy Resources Conservation & Development, under the broad grouping of Environment and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. CT Energy Efficiency Finance Company 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 03/2022, CT Energy Efficiency Finance Company generated $2.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.8% each year. All expenses for the organization totaled $1.9m during the year ending 03/2022. While expenses have increased by 13.8% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO LEND TO CONSUMERS & LANDLORDS FOR PROJECTS FOR RENEWABLE ENERGY & REDUCING ENERGY USE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CAPITAL FOR CHANGE, THROUGH ITS CEEFCO SUBSIDIARY, OFFERS 5 DIFFERENT LOAN PRODUCTS FOR HOMEOWNERS AS WELL AS MULTI-TENANT LANDLORDS ACROSS CONNECTICUT WITH A RANGE OF REPAYMENT TERMS AND INTEREST RATES. MANY MAKE USE OF ON-BILL REPAYMENT THROUGH EVERSOURCE. TOTAL CAPITAL AVAILABLE FOR THESE PROGRAMS EXCEEDS $12 MILLION SUPPORTING OVER 3000 ACTIVE LOANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Brian Robinson Vice Chair | OfficerTrustee | 0.5 | $0 |
Dorothy Adams Chairperson | OfficerTrustee | 0.5 | $0 |
Tim Hodges Secretary | OfficerTrustee | 0.5 | $0 |
Calvin B Vinal CEO (until 11/2021) | OfficerTrustee | 2.5 | $0 |
Jeff Robinson Treasurer | OfficerTrustee | 0.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Capital For Change Inc Loan Servicing And Origination Fees | 3/30/22 | $1,005,662 |
Service Stars Llc Contractor | 3/30/22 | $491,332 |
Energy Unlimited Llc Contractor | 3/30/22 | $253,150 |
King Energy Associates Llc Contractor | 3/30/22 | $177,907 |
Busy Bee Services Llc Contractor | 3/30/22 | $178,548 |
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 | $650,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $650,000 |
| Total Program Service Revenue | $1,341,460 |
| 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 | $1,991,460 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $20,400 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,050,662 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $15,838 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $483,896 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $1,872,286 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,863,075 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $171,613 |
| 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 | $38,233 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $29,303,180 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $31,376,101 |
| Accounts payable and accrued expenses | $285,938 |
| Grants payable | $0 |
| Deferred revenue | $1,852,487 |
| 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 | $14,700,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $16,838,425 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $14,537,676 |
| 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 | $31,376,101 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Efficiency Forward Inc Medford, MA | $5,907,697 | $9,722,584 |
Center For Ecotechnology Inc Dalton, MA | $5,279,642 | $8,781,564 |
New York City Energy Efficiency Corporation New York, NY | $49,730,328 | $4,961,348 |
Environment Next Inc East Aurora, NY | $24,217,627 | $8,709,351 |
E4thefuture Framingham, MA | $19,416,406 | $1,363,963 |
Northeast Energy Efficiency Partnerships Inc Lexington, MA | $4,479,644 | $4,251,266 |
Deploy-Us Inc Boston, MA | $2,976,414 | $4,253,205 |
Interstate Renewable Energy Council Albany, NY | $3,755,320 | $4,093,970 |
National Wind Technology Consortium Albany, NY | $2,138,543 | $2,465,652 |
Sustainable Westchester Inc Mount Kisco, NY | $1,228,571 | $2,221,583 |
Ct Energy Efficiency Finance Company Wallingford, CT | $31,376,101 | $1,991,460 |
Necec Institute Inc Boston, MA | $828,078 | $1,728,672 |