Form 990 for tax year 2023
Filed by NEW YORK CITY ENERGY EFFICIENCY CORPORATION.
Totals
- Total revenue
- $4,244,026
- Total expenses
- $7,489,197
- Contributions and grants received
- $1,766,679
- Grants paid
- $277,500
- Program service revenue
- $2,169,960
- Investment income
- $307,387
- Other revenue
- $0
- Total assets, end of year
- $47,387,838
- Total liabilities, end of year
- $21,474,211
- Net assets or fund balances, end of year
- $25,913,627
- Program services expenses (Part IX)
- $6,286,330
- Management and general expenses
- $1,090,630
- Fundraising expenses
- $112,237
- Program service expenses (Part III)
- $6,286,330
Program services were 83.9% 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)
$1,341,679
-
1f · All other contributions, gifts and grants
$425,000
-
2a · Program service revenue: PROGRAM INTEREST
total $1,775,265 · related or exempt $1,775,265
-
2b · Program service revenue: FEE INCOME
total $394,695 · related or exempt $394,695
-
3 · Investment income
total $142,923 · excluded $142,923
-
7a · Gross sales of assets other than inventory
securities $34,614,192
-
7b · Less cost or other basis and sales expenses
securities $34,449,728
-
7c · Gain or loss
securities $164,464
-
7d · Net gain or loss
total $164,464 · excluded $164,464
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $277,500 · program services $277,500
-
5 · Compensation of officers, directors and key employees
total $609,795 · program services $486,799 · management and general $107,491 · fundraising $15,505
-
7 · Other salaries and wages
total $1,995,321 · program services $1,523,915 · management and general $401,950 · fundraising $69,456
-
8 · Pension plan contributions
total $78,044 · program services $59,623 · management and general $15,709 · fundraising $2,712
-
9 · Other employee benefits
total $228,897 · program services $173,681 · management and general $46,930 · fundraising $8,286
-
10 · Payroll taxes
total $162,554 · program services $125,263 · management and general $31,934 · fundraising $5,357
-
11a · Fees: management
total $178,500 · management and general $178,500
-
11b · Fees: legal
total $105,127 · management and general $105,127
-
11g · Fees: other
total $349,284 · program services $253,636 · management and general $95,648
-
13 · Office expenses
total $125,594 · program services $98,636 · management and general $23,471 · fundraising $3,487
-
14 · Information technology
total $57,415 · program services $23,595 · management and general $33,820
-
16 · Occupancy
total $192,379 · program services $151,085 · management and general $35,953 · fundraising $5,341
-
17 · Travel
total $29,048 · program services $22,813 · management and general $5,429 · fundraising $806
-
20 · Interest
total $469,774 · program services $469,774
-
22 · Depreciation, depletion and amortization
total $2,826 · program services $2,220 · management and general $528 · fundraising $78
-
23 · Insurance
total $43,554 · program services $34,205 · management and general $8,140 · fundraising $1,209
-
24a · Other expenses: PROVISION FOR LOAN LOSS
total $2,523,667 · program services $2,523,667
-
24b · Other expenses: MISCELLANEOUS
total $59,918 · program services $59,918
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $4,027,665 · end of year $1,542,524
-
2 · Savings and temporary cash investments
beginning of year $13,568,082 · end of year $16,625,909
-
3 · Pledges and grants receivable
beginning of year $1,093,066 · end of year $923,153
-
4 · Accounts receivable
beginning of year $201,323 · end of year $283,753
-
7 · Other notes and loans receivable
beginning of year $24,365,448 · end of year $27,214,159
-
9 · Prepaid expenses and deferred charges
beginning of year $116,485 · end of year $81,936
-
10a · Land, buildings and equipment: cost or other basis
$154,214
-
10b · Land, buildings and equipment: accumulated depreciation
$152,329
-
10c · Land, buildings and equipment, net
beginning of year $4,711 · end of year $1,885
-
15 · Other assets
beginning of year $874,956 · end of year $714,519
-
17 · Accounts payable and accrued expenses
beginning of year $947,777 · end of year $1,165,674
-
19 · Deferred revenue
beginning of year $60,734
-
21 · Escrow or custodial account liability
beginning of year $124,378 · end of year $124,378
-
23 · Secured mortgages and notes payable
beginning of year $13,311,790 · end of year $15,877,790
-
24 · Unsecured notes and loans payable
end of year $3,721,305
-
25 · Other liabilities
beginning of year $739,999 · end of year $585,064
-
27 · Net assets without donor restrictions
beginning of year $3,304,318 · end of year $4,014,766
-
28 · Net assets with donor restrictions
beginning of year $25,762,740 · end of year $21,898,861
Mission and programs · 2023
Mission
NYCEEC'S MISSION IS TO DELIVER FINANCING SOLUTIONS AND ADVANCE MARKETS FOR ENERGY EFFICIENCY AND CLEAN ENERGY IN COMMUNITIES.
Activities or mission (Part I)
DELIVERING FINANCING SOLUTIONS AND ADVANCING MARKETS FOR ENERGY EFFICIENCY AND CLEAN ENERGY.
-
THROUGH THE END OF FY 2024, NYCEEC HAD MOBILIZED MORE THAN $445 MILLION IN CAPITAL SINCE LAUNCHING OPERATIONS. NYCEEC CONTINUED TO SERVE LOW-TO MODERATE INCOME (LMI) POPULATIONS, GREENING MORE THAN 15,000 AFFORDABLE HOUSING UNITS TO-DATE, WITH 85% NYCEEC-FINANCED PROJECTS IN FY 2024 BEING AFFORDABLE. NYCEEC INVESTED IN START-UP EFFORTS FOR THE CITY OF NEW YORK'S COMMERCIAL PROPERTY ASSESSED CLEAN ENERGY (C-PACE) PROGRAM, WHICH SAW CUMULATIVE VOLUME OF $117 MILLION THROUGH FY 2024.IN ADDITION, NYCEEC CONTINUED TO DEEPEN AND EXPAND PARTNERSHIPS WITH DEVELOPERS, HOUSING AGENCIES, CONTRACTORS, AND GOVERNMENT PROGRAMS.
Expenses $6,286,330 · Grants $277,500 · Revenue $2,169,960
As filed on the 2023 return.
Listed in Part VII
-
Ashok GuptaASHOK GUPTA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Bruce SchleinBRUCE SCHLEIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Elizabeth ZeldinELIZABETH ZELDIN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
J Gregory HaleJ GREGORY HALE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Jeffrey I BrodskyJEFFREY I BRODSKY
BOARD MEMBER AND CHAIRPERSON
- Total calculated
- $0
- Hours/week
- 1
-
Joe ChavezJOE CHAVEZ
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
John RiceJOHN RICE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Kimberly DargaKIMBERLY DARGA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Marc KhouzamiMARC KHOUZAMI
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Mark ZuluagaMARK ZULUAGA
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Renwick PaigeRENWICK PAIGE
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Sadie McKeownSADIE MCKEOWN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Susan LeedsSUSAN LEEDS
BOARD MEMBER AND SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Kellim KeenanKELLIM KEENAN
BOARD MEMBER
- Total calculated
- $0
- Hours/week
- 1
-
Curtis ProbstCURTIS PROBST
CEO, PRESIDENT
- Total calculated
- $286,879
- From this org
- $214,354
- From related orgs
- $0
- Other
- $72,525
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $214,354
- Bonus
- $0
- Other
- $0
- Deferred
- $8,507
- Nontaxable benefits
- $64,018
- Filer's total
- $286,879
-
Jay MervesJAY MERVES
DIR. OF BUSINESS DEV., TREASURER
- Total calculated
- $293,705
- From this org
- $223,234
- From related orgs
- $0
- Other
- $70,471
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $223,234
- Bonus
- $0
- Other
- $0
- Deferred
- $8,766
- Nontaxable benefits
- $61,705
- Filer's total
- $293,705
-
Erangi DiasERANGI DIAS
DIR. OF BUSINESS DEV.
- Total calculated
- $139,519
- From this org
- $133,681
- From related orgs
- $0
- Other
- $5,838
- Hours/week
- 40
-
Marian L WeberMARIAN L WEBER
DIRECTOR
- Total calculated
- $123,559
- From this org
- $113,925
- From related orgs
- $0
- Other
- $9,634
- Hours/week
- 40
-
Michael KerstetterMICHAEL KERSTETTER
GENERAL COUNSEL/DIRECTOR
- Total calculated
- $209,016
- From this org
- $198,065
- From related orgs
- $0
- Other
- $10,951
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $198,065
- Bonus
- $0
- Other
- $0
- Deferred
- $7,344
- Nontaxable benefits
- $3,607
- Filer's total
- $209,016
-
Naeemah E LajoieNAEEMAH E LAJOIE
DIRECTOR OF OPERATIONS
- Total calculated
- $229,261
- From this org
- $177,644
- From related orgs
- $0
- Other
- $51,617
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $177,644
- Bonus
- $0
- Other
- $0
- Deferred
- $7,260
- Nontaxable benefits
- $44,357
- Filer's total
- $229,261
-
Patrick O'DonnellPATRICK O'DONNELL
DIRECTOR OF ENGINEERING
- Total calculated
- $168,402
- From this org
- $158,557
- From related orgs
- $0
- Other
- $9,845
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $158,557
- Bonus
- $0
- Other
- $0
- Deferred
- $6,440
- Nontaxable benefits
- $3,405
- Filer's total
- $168,402
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 · 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
-
$200,000
ELEMENTAL AND NYCEEC WILL PROVIDE THE TOOLS AND GUIDANCE NECESSARY TO SET THESE INNOVATORS AND THEIR COMPANIES ON A TRAJECTORY TOWARD BROADER DEBT CAPITAL MARKET ACCESS.
-
$77,500
SOLAR ONE WILL SUPPORT NYCEEC IN: (I) ENGAGING THE COMMUNITY THROUGH EDUCATION BY PROVIDING EDUCATIONAL RESOURCES TO A RANGE OF COMMUNITY INPUT AND OWNERSHIP IN CLEAN ENERGY INITIATIVES; (II) DEVELOPING A TRAINED CLEAN ENERGY WORKFORCE, PROVIDING TRAINING OPPORTUNITIES ESPECIALLY WHERE THEY HAVE NOT BEEN EVENLY DISTRIBUTED, BUILDING CAPACITY AND INCREASING NUMBERS OF COMMUNITY MEMBERS QUALIFIED AND READY TO PARTICIPATE IN THE WORKFORCE, SUPPORTING ENERGY EFFICIENCY AND CLEAN ENERGY PROJECTS.
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
NYCEEC FUEL CONVERSION RECEIVABLES LLC
INACTIVE · NY · income $0 · assets $0
Directly controlled by NEW YORK CITY ENERGY EFFICIENCY CORPORATION
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 1 April 2025
- IRS schema version
- 2023v6.0
- Source object
- 202521009349301952
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