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Nonprofiteer
← NORTH CAROLINA ADVANCED ENERGY CORPORATION

Form 990 for tax year 2024

Filed by NORTH CAROLINA ADVANCED ENERGY CORPORATION.

Totals

Total revenue
$7,935,080
Total expenses
$8,579,226
Contributions and grants received
$273,746
Grants paid
$0
Program service revenue
$7,473,689
Investment income
$187,645
Other revenue
$0
Total assets, end of year
$9,155,220
Total liabilities, end of year
$1,742,717
Net assets or fund balances, end of year
$7,412,503
Program services expenses (Part IX)
$5,608,427
Management and general expenses
$2,970,799
Fundraising expenses
$0
Program service expenses (Part III)
$5,608,427

Program services were 65.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $273,746

  • 2a · Program service revenue: SERVICE ACCOUNT REVENUE

    total $2,386,287 · related or exempt $2,386,287

  • 2b · Program service revenue: UTILITY NON-MEMBER REVENUE

    total $1,814,309 · related or exempt $1,814,309

  • 2c · Program service revenue: NON-UTILITY REVENUE

    total $1,222,059 · related or exempt $1,222,059

  • 2d · Program service revenue: STRATEGIC INVESTMENT REVENUE

    total $1,000,000 · related or exempt $1,000,000

  • 2e · Program service revenue: INVESTMENT ACCOUNT REVENUE

    total $558,504 · related or exempt $558,504

  • 2f · All other program service revenue

    total $492,530 · related or exempt $492,530

  • 3 · Investment income

    total $187,645 · related or exempt $187,645

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $810,552 · program services $486,331 · management and general $324,221

  • 7 · Other salaries and wages

    total $3,659,344 · program services $2,654,085 · management and general $1,005,259

  • 8 · Pension plan contributions

    total $257,410 · program services $180,187 · management and general $77,223

  • 9 · Other employee benefits

    total $1,347,409 · program services $948,317 · management and general $399,092

  • 10 · Payroll taxes

    total $391,374 · program services $273,962 · management and general $117,412

  • 11b · Fees: legal

    total $65,025 · management and general $65,025

  • 11c · Fees: accounting

    total $69,594 · management and general $69,594

  • 11g · Fees: other

    total $595,224 · program services $340,163 · management and general $255,061

  • 12 · Advertising and promotion

    total $3,107 · management and general $3,107

  • 13 · Office expenses

    total $24,203 · program services $18,394 · management and general $5,809

  • 14 · Information technology

    total $311,777 · program services $84,180 · management and general $227,597

  • 16 · Occupancy

    total $381,489 · program services $289,932 · management and general $91,557

  • 17 · Travel

    total $155,060 · program services $72,878 · management and general $82,182

  • 19 · Conferences, conventions and meetings

    total $278,513 · program services $130,901 · management and general $147,612

  • 22 · Depreciation, depletion and amortization

    total $151,557 · program services $70,130 · management and general $81,427

  • 23 · Insurance

    total $77,588 · program services $58,967 · management and general $18,621

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $337,198 · end of year $45,142

  • 2 · Savings and temporary cash investments

    beginning of year $6,716,223 · end of year $5,880,114

  • 4 · Accounts receivable

    beginning of year $1,711,744 · end of year $1,630,091

  • 9 · Prepaid expenses and deferred charges

    beginning of year $187,929 · end of year $161,734

  • 10a · Land, buildings and equipment: cost or other basis

    $3,485,574

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,047,435

  • 10c · Land, buildings and equipment, net

    beginning of year $1,507,208 · end of year $1,438,139

  • 17 · Accounts payable and accrued expenses

    beginning of year $529,436 · end of year $511,789

  • 25 · Other liabilities

    beginning of year $1,756,863 · end of year $1,230,928

  • 27 · Net assets without donor restrictions

    beginning of year $8,174,003 · end of year $7,412,503

Mission and programs · 2024

Mission

ADVANCED ENERGY HELPS ALL CUSTOMERS IN NORTH CAROLINA - RESIDENTIAL, COMMERCIAL AND INDUSTRIAL - LOWER COSTS AND ENSURE ENERGY RELIABILITY.

  • ENERGY ENGINEERING, CONSULTING AND TESTING

    Expenses $5,608,427

As filed on the 2024 return.

Listed in Part VII

  • Robert Powell

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Chris Edge

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Adam Foodman

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Katharine Kollins

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Jo Anne Sanford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Venu Ghanta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Dionne Delli-Gatti

    MEMBER-AT-LA

    Total calculated
    $0
    Hours/week
    1

  • Hayes Jernigan Finley

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Peter Ledford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Spruill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Gaylene Watson

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Amy Pickle

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Goodson

    PRESIDENT- (

    Total calculated
    $235,733
    From this org
    $223,388
    From related orgs
    $0
    Other
    $12,345
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $163,386
    Bonus
    $1,521
    Other
    $58,481
    Deferred
    $10,437
    Nontaxable benefits
    $1,908
    Filer's total
    $235,733

  • Brian Coble

    PRESIDENT

    Total calculated
    $266,659
    From this org
    $209,438
    From related orgs
    $0
    Other
    $57,221
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,895
    Bonus
    $1,521
    Other
    $1,022
    Deferred
    $47,600
    Nontaxable benefits
    $9,621
    Filer's total
    $266,659

  • Chrstine Maurer

    DIR, OPS&ENG

    Total calculated
    $164,465
    From this org
    $143,364
    From related orgs
    $0
    Other
    $21,101
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,999
    Bonus
    $1,521
    Other
    $844
    Deferred
    $7,519
    Nontaxable benefits
    $13,582
    Filer's total
    $164,465

  • Emily Ernst Lunne

    DIR, FINANCE

    Total calculated
    $143,695
    From this org
    $135,372
    From related orgs
    $0
    Other
    $8,323
    Hours/week
    40

  • Eugene Butler

    BUS. DEVELP.

    Total calculated
    $156,452
    From this org
    $147,948
    From related orgs
    $0
    Other
    $8,504
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $145,274
    Bonus
    $1,521
    Other
    $1,153
    Deferred
    $6,971
    Nontaxable benefits
    $1,533
    Filer's total
    $156,452

  • Michael Stowe

    ENGINEER V

    Total calculated
    $170,474
    From this org
    $146,267
    From related orgs
    $0
    Other
    $24,207
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,497
    Bonus
    $6,108
    Other
    $1,662
    Deferred
    $7,110
    Nontaxable benefits
    $17,097
    Filer's total
    $170,474

  • Shawn Fitzpatrick

    ENGINEER V

    Total calculated
    $156,496
    From this org
    $140,064
    From related orgs
    $0
    Other
    $16,432
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $137,613
    Bonus
    $1,481
    Other
    $970
    Deferred
    $7,172
    Nontaxable benefits
    $9,260
    Filer's total
    $156,496

  • Michael Lyda

    SR MNGR-LARG

    Total calculated
    $141,877
    From this org
    $123,243
    From related orgs
    $0
    Other
    $18,634
    Hours/week
    40

  • Maria Mauceri

    SR MNGR-WEAT

    Total calculated
    $147,449
    From this org
    $128,465
    From related orgs
    $0
    Other
    $18,984
    Hours/week
    40

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2024
Filed
30 September 2025
IRS schema version
2024v5.0
Source object
202522769349301112

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