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Nonprofiteer
← MONTGOMERY COUNTY GREEN BANK CORP

Form 990 for tax year 2024

Filed by MONTGOMERY COUNTY GREEN BANK CORP.

Totals

Total revenue
$25,520,849
Total expenses
$9,381,198
Contributions and grants received
$3,672,059
Grants paid
$0
Program service revenue
$990,494
Investment income
$2,152,074
Other revenue
$18,706,222
Total assets, end of year
$141,084,371
Total liabilities, end of year
$74,333,824
Net assets or fund balances, end of year
$66,750,547
Program services expenses (Part IX)
$7,918,776
Management and general expenses
$1,374,168
Fundraising expenses
$88,254
Program service expenses (Part III)
$7,918,776

Program services were 84.4% 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)

    $2,765,969

  • 1f · All other contributions, gifts and grants

    $906,090

  • 2a · Program service revenue: PROGRAM REVENUE

    total $990,494 · related or exempt $990,494

  • 3 · Investment income

    total $2,152,074 · related or exempt $2,152,074

  • 11a · Other revenue: ENERGY TAX REVENUE

    total $18,706,222 · related or exempt $18,706,222

  • 11e · Other revenue, total

    $18,706,222

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,879,122 · program services $1,173,136 · management and general $665,397 · fundraising $40,589

  • 7 · Other salaries and wages

    total $238,722 · program services $149,035 · management and general $84,531 · fundraising $5,156

  • 8 · Pension plan contributions

    total $72,488 · program services $45,254 · management and general $25,668 · fundraising $1,566

  • 9 · Other employee benefits

    total $217,463 · program services $135,762 · management and general $77,004 · fundraising $4,697

  • 10 · Payroll taxes

    total $37,781 · program services $23,587 · management and general $13,378 · fundraising $816

  • 11b · Fees: legal

    total $363,008 · program services $226,626 · management and general $128,541 · fundraising $7,841

  • 11c · Fees: accounting

    total $156,592 · program services $97,760 · management and general $55,450 · fundraising $3,382

  • 11g · Fees: other

    total $363,264 · program services $226,786 · management and general $128,632 · fundraising $7,846

  • 12 · Advertising and promotion

    total $186,788 · program services $164,317 · management and general $9,395 · fundraising $13,076

  • 13 · Office expenses

    total $361,513 · program services $233,501 · management and general $128,012

  • 16 · Occupancy

    total $121,441 · program services $76,010 · management and general $43,002 · fundraising $2,429

  • 22 · Depreciation, depletion and amortization

    total $8,299 · program services $8,299

  • 23 · Insurance

    total $42,806 · program services $26,792 · management and general $15,158 · fundraising $856

  • 24a · Other expenses: PRODUCT DEVELOPMENT

    total $4,931,713 · program services $4,931,713

  • 24b · Other expenses: BAD DEBT EXPENSE

    total $400,198 · program services $400,198

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $27,197,836 · end of year $99,901,792

  • 4 · Accounts receivable

    beginning of year $2,993,288 · end of year $2,786,369

  • 7 · Other notes and loans receivable

    beginning of year $27,214,041 · end of year $36,504,003

  • 9 · Prepaid expenses and deferred charges

    beginning of year $65,747 · end of year $47,905

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

    $114,887

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

    $8,299

  • 10c · Land, buildings and equipment, net

    beginning of year $0 · end of year $106,588

  • 14 · Intangible assets

    beginning of year $0 · end of year $270,193

  • 15 · Other assets

    beginning of year $2,886 · end of year $1,467,521

  • 17 · Accounts payable and accrued expenses

    beginning of year $472,528 · end of year $556,018

  • 19 · Deferred revenue

    beginning of year $0 · end of year $65,889,031

  • 21 · Escrow or custodial account liability

    beginning of year $6,390,374 · end of year $6,390,374

  • 25 · Other liabilities

    beginning of year $0 · end of year $1,498,401

  • 27 · Net assets without donor restrictions

    beginning of year $41,213,942 · end of year $54,326,568

  • 28 · Net assets with donor restrictions

    beginning of year $9,396,954 · end of year $12,423,979

Mission and programs · 2024

Mission

MONTGOMERY COUNTY GREEN BANK CORPORATION IS MAKING ENERGY EFFICIENCY AND CLEAN ENERGY ATTAINABLE FOR ALL IN OUR COMMUNITY AND CREATING A MORE SUSTAINABLE AND RESILIENT FUTURE.

  • THE MONTGOMERY COUNTY GREEN BANK IS A PUBLICLY-CHARTERED NONPROFIT DEDICATED TO ACCELERATING AFFORDABLE ENERGY EFFICIENCY AND CLEAN ENERGY INVESTMENT IN MONTGOMERY COUNTY, MD. WE PARTNER WITH THE PRIVATE SECTOR TO BUILD A MORE DIVERSE, EQUITABLE, AND INCLUSIVELY PROSPEROUS,RESILIENT, SUSTAINABLE, AND HEALTHY COMMUNITY. OUR WORK SUPPORTS MONTGOMERY COUNTY'S GOAL TO REDUCE ITS GREENHOUSE GAS EMISSIONS.

    Expenses $7,918,776

As filed on the 2024 return.

Listed in Part VII

  • Julie Abrams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William Bumpers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David Crow

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kyle Danish

    SECRETARY

    Total calculated
    $0
    Hours/week
    12

  • Bert Hunter

    SECRETARY

    Total calculated
    $0
    Hours/week
    12

  • Andrea Longton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    12

  • Brian Marconi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Zach Marks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marcene Mitchell

    CHAIR

    Total calculated
    $0
    Hours/week
    12

  • Jon Monger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Bonnie Norman

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marissa Ramirez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    12

  • Bob Sahadi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stacy Swann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    12

  • Stephen Morel

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $301,399
    From this org
    $287,341
    From related orgs
    $0
    Other
    $14,058
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $252,488
    Bonus
    $27,500
    Other
    $7,353
    Deferred
    $14,058
    Nontaxable benefits
    $0
    Filer's total
    $301,399

  • Mariann Zylstra

    OFFICER

    Total calculated
    $0
    Hours/week
    40

  • Timothy Zhang

    OFFICER

    Total calculated
    $241,431
    From this org
    $229,424
    From related orgs
    $0
    Other
    $12,007
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $197,475
    Bonus
    $7,800
    Other
    $24,149
    Deferred
    $12,007
    Nontaxable benefits
    $0
    Filer's total
    $241,431

  • Xxxxx Xxxx

    SENIOR DIRECTOR OF COMMERCIAL BUSINESS

    Total calculated
    $188,467
    From this org
    $179,767
    From related orgs
    $0
    Other
    $8,700
    Hours/week
    40

  • Xxxxx Xxxx

    DIRECTOR,CLIMATE RESILIENCE

    Total calculated
    $170,056
    From this org
    $161,435
    From related orgs
    $0
    Other
    $8,621
    Hours/week
    40

  • Xxxxx Xxxx

    DIRECTOR, RENEWABLE ENERGY

    Total calculated
    $154,678
    From this org
    $147,364
    From related orgs
    $0
    Other
    $7,314
    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

Itemized on Schedule J with no Part VII listing of the same name on this return:

  • Xxxxx Xxxx

    SENIOR DIRECTOR OF COMMERCIAL BUSINE

    Schedule J breakdown

    Base
    $139,854
    Bonus
    $14,080
    Other
    $25,833
    Deferred
    $8,700
    Nontaxable benefits
    $0
    Filer's total
    $188,467

  • Xxxxx Xxxx

    DIRECTOR,CLIMATE RESILIENCE

    Schedule J breakdown

    Base
    $151,635
    Bonus
    $9,800
    Other
    $0
    Deferred
    $8,621
    Nontaxable benefits
    $0
    Filer's total
    $170,056

  • Xxxxx Xxxx

    DIRECTOR, RENEWABLE ENERGY

    Schedule J breakdown

    Base
    $124,735
    Bonus
    $10,400
    Other
    $12,229
    Deferred
    $7,314
    Nontaxable benefits
    $0
    Filer's total
    $154,678

Answered yes

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 7
THE FOLLOWING INDIVIDUALS RECEIVED A BONUS DURING THE YEAR ENDED JUNE 30, 2025: STEPHEN MOREL, CHIEF EXECUTIVE OFFICER: $27,500 TIMOTHY ZHANG, CHIEF INVESTMENT OFFICER: $7,800 SENIOR DIRECTOR OF COMMERCIAL BUSINESS: $14,080 DIRECTOR,CLIMATE RESILIENCE: $9,800 DIRECTOR, RENEWABLE ENERGY: $10,400
PART I, LINE 3:
APPROVED IN ADVANCE BY APPROVAL BODY COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT. DATA DEMONSTRATING FAIR MARKET OF COMPENSATION IS USED, WHICH MAY INCLUDE EXPERT COMPENSATION STUDIES BY INDEPENDENT FIRMS, WRITTEN JOB OFFERS FOR POSITIONS AT SIMILAR ORGANIZATIONS, DOCUMENTED PHONE CALLS ABOUT SIMILAR POSITIONS AT OTHER ORGANIZATIONS, OR INFORMATION OBTAINED FROM IRS FORM 990 FILINGS OF SIMILAR ORGANIZATIONS. THE APPROVAL BODY CONCURRENTLY DOCUMENTS HOW IT REACHED ITS DECISIONS, INCLUDING DATA ON WHICH IT RELIED.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202503189349314155

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