American Council On Renewable Energy-Acore
- Assets
- $5.2m
- Revenue
- $10.2m
- Investments
- $0.0
- Employees
- 29
- Location
- Washington, DC
- Founding
- 05/2002
- Data as of
- 12/2023
- EIN
- 52-2353661
Organization Overview
American Council On Renewable Energy-Acore is located in Washington, DC. The organization was established in 2002. According to its NTEE Classification (U30) the organization is classified as: Physical & Earth Sciences, under the broad grouping of Science & Technology and related organizations. As of 12/2023, American Council On Renewable Energy-Acore employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Council On Renewable Energy-Acore 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 12/2023, American Council On Renewable Energy-Acore generated $10.2m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 17.4% each year . All expenses for the organization totaled $9.9m during the year ending 12/2023. While expenses have increased by 15.0% per year over the past 9 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.
Since 2021, American Council On Renewable Energy-Acore has awarded 14 individual grants totaling $2,222,000. 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 UNITE BUSINESS, POLICY AND FINANCE TO ACCELERATE THE TRANSITION TO A RENEWABLE ENERGY ECONOMY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACORE DEPLOYS THREE MAJOR PROGRAMS TO DRIVE ITS OVERALL MISSION. 1. FINANCEACORE SUPPORTS THE RAPID SCALING OF CLEAN ENERGY INVESTMENTS THROUGH ITS WORK IN PROJECT FINANCE AND ESG BY ENGAGING EXISTING INVESTORS AND DIRECTING NEW ENTRANTS TO THE CLEAN ENERGY SECTOR.2. POLICYACORE WORKS WITH CONGRESS, THE ADMINISTRATION, FEDERAL AGENCIES, STATE GOVERNMENTS, AND U.S. POWER MARKETS TO PROMOTE AND DEFEND POLICIES THAT ACCELERATE THE TRANSITION TO A CLEAN ENERGY ECONOMY.3. TECHNOLOGYACORE IS AT THE FOREFRONT OF FOSTERING THE INNOVATION, DEVELOPMENT, AND INTEGRATION OF CLEAN ENERGY, GRID TECHNOLOGIES, AND EXPANDED TRANSMISSION.
ACORE PRODUCES A MIXTURE OF IN-PERSON AND VIRTUAL EVENTS ANNUALLY TO CONNECT ATTENDEES WITH UP-TO-THE-MINUTE INSIGHTS ON THE POLICIES, FINANCIAL TRENDS, AND GRID ISSUES MOST PERTINENT TO THE CLEAN ENERGY SECTOR. ACORE'S 2023 SIGNATURE EVENTS INCLUDED THE ACORE POLICY FORUM AND AWARDS GALA IN WASHINGTON, D.C., THE ACORE FINANCE FORUM IN NEW YORK CITY, AND THE ACORE GRID FORUM IN ARLINGTON, VIRGINIA.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Gregory Wetstone Outgoing President & CEO | OfficerTrustee | 40 | $469,806 |
Raymond Long Incoming President & CEO | OfficerTrustee | 40 | $256,818 |
Kevin Gresham Board Chair | OfficerTrustee | 2 | $0 |
Shannon Kellogg Secretary | OfficerTrustee | 2 | $0 |
Patrick Reiten Treasurer | OfficerTrustee | 2 | $0 |
Vikas Agrawal Director | Trustee | 2 | $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 | $8,111,868 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,111,868 |
| Total Program Service Revenue | $2,092,484 |
| Investment income | $43,946 |
| 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 | $10,248,895 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,913,000 |
| 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. | $1,000,544 |
| Compensation of current officers, directors, key employees. | $341,810 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,251,604 |
| Pension plan accruals and contributions | $177,192 |
| Other employee benefits | $522,573 |
| Payroll taxes | $293,470 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,500 |
| Fees for services: Accounting | $41,044 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,127,006 |
| Advertising and promotion | $3,874 |
| Office expenses | $54,265 |
| Information technology | $253,048 |
| Royalties | $0 |
| Occupancy | $231,151 |
| Travel | $52,676 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $764,459 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $41,660 |
| Insurance | $12,187 |
| All other expenses | $147,623 |
| Total functional expenses | $9,895,876 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $21,898 |
| Savings and temporary cash investments | $3,005,726 |
| Pledges and grants receivable | $839,600 |
| Accounts receivable, net | $175,000 |
| 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 | $174,455 |
| Net Land, buildings, and equipment | $84,463 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $913,784 |
| Total assets | $5,214,926 |
| Accounts payable and accrued expenses | $311,915 |
| Grants payable | $1,633,000 |
| Deferred revenue | $1,528,479 |
| 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 | $38,357 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $985,061 |
| Total liabilities | $4,496,812 |
| Net assets without donor restrictions | -$1,212,672 |
| Net assets with donor restrictions | $1,930,786 |
| 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 | $5,214,926 |
Grants Awarded
Over the last fiscal year, American Council On Renewable Energy-Acore has awarded $555,000 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
ALLIANCE FOR CLEAN ENERGY NY PURPOSE: Program service | $30,000 |
INTERWEST ENERGY ALLIANCE PURPOSE: Program service | $80,000 |
MAREC ACTION PURPOSE: Program service | $275,000 |
RENEW NORTHEAST PURPOSE: Program service | $50,000 |
SOUTHERN RENEWABLE ENERGY ASSOCIATION PURPOSE: Program service | $120,000 |