Ct Energy Efficiency Finance Company
- Assets
- $44.9m
- Revenue
- $2.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Wallingford, CT
- Founding
- 12/2012
- Data as of
- 03/2024
- 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 03/2024, CT Energy Efficiency Finance Company generated $2.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 8.6% each year. All expenses for the organization totaled $3.3m during the year ending 03/2024. 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
2024
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 |
|---|---|---|---|
Dorothy Adams Chair (until 1/2024) | OfficerTrustee | 0.5 | $0 |
Jeffrey Robinson Treasurer | OfficerTrustee | 0.5 | $0 |
Robin Golden Secretary | OfficerTrustee | 0.5 | $0 |
Benna Lehrer Chair (as Of 1/2024) | OfficerTrustee | 0.5 | $0 |
Brian Robinson Director | Trustee | 0.5 | $0 |
Diane Smith CEO | Officer | 2.5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Capital For Change Inc Loan Servicing And Origination Fees | 3/30/24 | $1,274,066 |
Service Stars Llc Contractor | 3/30/24 | $989,483 |
Call The Bee Heating Cooling Plumbing Contractor | 3/30/24 | $346,047 |
Harp Mechanical And Home Services Llc Contractor | 3/30/24 | $344,892 |
Total Mechanical Systems Llc Contractor | 3/30/24 | $380,491 |
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 | $2,039,699 |
| Investment income | $102,229 |
| 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 | $2,141,928 |
| 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 | $61,410 |
| Fees for services: Accounting | $21,084 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,274,066 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $18,540 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,320,554 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $574,062 |
| Total functional expenses | $3,269,716 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,654,239 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $308,108 |
| 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 | $59,843 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $40,919,520 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $44,941,710 |
| Accounts payable and accrued expenses | $320,160 |
| Grants payable | $0 |
| Deferred revenue | $1,468,104 |
| 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 | $30,000,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $31,788,264 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $13,153,446 |
| 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 | $44,941,710 |