Illinois Science And Energy Innovation Foundation
- Assets
- $25.4m
- Revenue
- $1.4m
- Investments
- $14.9m
- Employees
- 5
- Location
- Gilberts, IL
- Founding
- 12/2013
- Data as of
- 12/2023
- EIN
- 45-5087827
Organization Overview
Illinois Science And Energy Innovation Foundation, operating under the name Energy Foundry, is located in Gilberts, IL. The organization was established in 2013. 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, Energy Foundry employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Energy Foundry 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, Energy Foundry generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (15.1%) each year. All expenses for the organization totaled $1.4m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (15.2%) per year over the past 9 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Energy Foundry has awarded 194 individual grants totaling $42,859,916. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT SOCIAL WELFARE AND ECONOMIC DEVELOPMENT BY PROVIDING FINANCIAL AND TECHNICAL SUPPORT FOR ENERGY CONCEPTS AND TO PROVIDE CONSUMER EDUCATION REGARDING SMART METERS AND RELATED TECHNOLOGIES AND SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PURSUANT TO CHAPTER 220, SECTION 5/16-180.7(D) OF THE PUBLIC UTILITIES ACT OF ILLINOIS COMPILED STATUTES, IN 2012 THE FOUNDATION RECEIVED INITIAL FUNDING FROM TWO ILLINOIS UTILITY CORPORATIONS. FURTHER, THE FOUNDATION RECEIVES VARIOUS ADDITIONAL GRANTS AND/OR DONATIONS TO SUPPORT PROGRAMS AND RELATED EXPENSES. THE FUNDS WERE AND WILL BE EXPENDED TO PROVIDE FINANCIAL AND TECHNICAL SUPPORT AND ASSISTANCE TO ENTITIES FOR PROGRAMS AND PROJECTS THAT SUPPORT, ENCOURAGE OR UTILIZE INNOVATIVE TECHNOLOGIES OR OTHER METHODS THAT WILL BENEFIT THE PUBLIC BY PROMOTING ECONOMIC DEVELOPMENT IN ILLINOIS.
TO SUPPORT SOCIAL WELFARE AND ECONOMIC DEVELOPMENT BY PROVIDING FINANCIAL AND TECHNICAL SUPPORT FOR ENERGY CONCEPTS AND TO PROVIDE CONSUMER EDUCATION REGARDING SMART METERS AND RELATED TECHNOLOGIES AND SERVICES.
PURSUANT TO CHAPTER 220, SECTION 5/16-180.6(F) OF THE PUBLIC UTILITIES ACT OF ILLINOIS COMPILED STATUTES, PROVIDES FOR FUNDING FROM THE TWO UTILITY CORPORATIONS OF 5,000,000 PER YEAR BEGINNING IN 2012 AND CONTINUING FOR TEN YEARS. THE FUNDS WILL BE USED TO PROVIDE CONSUMER EDUCATION REGARDING SMART METERS AND RELATED TECHNOLOGIES AND SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jason Blumberg Executive Di | Officer | 49 | $218,783 |
Megan Clifford Director | Trustee | 1 | $0 |
Mark Laufenburg Director | Trustee | 2 | $0 |
Brendan Reilly Director | Trustee | 1 | $0 |
Robert Greenlee Secretary | Officer | 3.5 | $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 | $238,204 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $238,204 |
| Total Program Service Revenue | $0 |
| Investment income | $702,003 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,603 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,360,960 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $248,872 |
| 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 | $606,597 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $83,649 |
| Payroll taxes | $47,753 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $84,931 |
| Fees for services: Accounting | $87,167 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $29,734 |
| Advertising and promotion | $11,036 |
| Office expenses | $35,623 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $62,848 |
| Travel | $48,969 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,672 |
| Insurance | $7,582 |
| All other expenses | $0 |
| Total functional expenses | $1,360,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $326,346 |
| Savings and temporary cash investments | $375,094 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $35,184 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,748,043 |
| Investments—other securities | $14,887,731 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $25,372,398 |
| Accounts payable and accrued expenses | $8,452 |
| 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 | $8,452 |
| Net assets without donor restrictions | $25,363,946 |
| 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 | $25,372,398 |
Grants Awarded
Over the last fiscal year, Illinois Science And Energy Innovation Foundation has awarded $248,872 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
CITY OF CHICAGO PURPOSE: CONSUMER EDUCATION | $42,395 |
ILLINOIS SCIENCE AND TECHNOLOGY COA PURPOSE: CONSUMER EDUCATION | $141,618 |
THE KINDLING GROUP PURPOSE: CONSUMER EDUCATION | $64,859 |