North Carolina Advanced Energy Corporation

Organization Overview

North Carolina Advanced Energy Corporation is located in Raleigh, NC. The organization was established in 1981. According to its NTEE Classification (U99) the organization is classified as: Science & Technology N.E.C., under the broad grouping of Science & Technology and related organizations. As of 12/2021, North Carolina Advanced Energy Corporation employed 69 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. North Carolina Advanced Energy Corporation 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 12/2021, North Carolina Advanced Energy Corporation generated $8.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $7.4m during the year ending 12/2021. While expenses have increased by 0.4% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

THE TWO MAJOR CORPORATE GOALS ARE TO MODERATE THE RISE IN DEMAND FOR ELECTRICITY AND TO HELP SHIFT DEMAND TO OFF-PEAK PERIODS. THE ARTICLES OF INCORPORATION ALSO CHARGE THE CORPORATION WITH FULFILLING THE COMPLEMENTARY PURPOSES OF EDUCATING CONSUMERS ABOUT ENERGY, PROVIDING ALTERNATIVES TO CURRENT ELECTRIC GENERATION TECHNOLOGIES, DEVELOPING MORE ECONOMIC SOURCES OF ELECTRIC POWER, INCREASING SYSTEM EFFICIENCY AND LOAD FACTORS THROUGH CONSERVATION AND LOAD MANAGEMENT, HELPING TO MODERATE THE FUTURE COST OF ELECTRIC SERVICE, AND DEMONSTRATING MORE EFFICIENT USES OF ELECTRIC POWER.

Describe the Organization's Program Activity:

Part 3 - Line 4a

TESTING, CONSULTING AND TRAINING


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Board, Officers & Key Employees

Name (title)Compensation
Robert Goodson
President &
$221,754
Brian Coble
Senior VP
$169,644
Eugene Butler
Bus. Develop
$145,732
Shawn Fitzpatrick
Sr. Solar En
$128,726
Michael Stowe
Engineer
$128,363
Chrstine Maurer
Technical Ma
$120,113

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$8,497,829
Investment income $91,337
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 $8,839,166

Grants Recieved

Over the last fiscal year, we have identified 1 grants that North Carolina Advanced Energy Corporation has recieved totaling $10,000.

Awarding OrganizationAmount
The Energy Foundation

San Francisco, CA

PURPOSE: TO PROMOTE EDUCATION AND ANALYSIS ON THE BENEFITS OF CLEAN TRANSPORTATION FUELS

$10,000
View Grant Recipient Profile

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