Form 990 for tax year 2023

Totals

Total revenue

$396,843,381

Total expenses

$396,633,689

Contributions and grants received

$395,570,444

Grants paid

$0

Program service revenue

$0

Investment income

$1,272,726

Other revenue

$211

Total assets, end of year

$168,027,868

Total liabilities, end of year

$163,054,191

Net assets or fund balances, end of year

$4,973,677

Program services expenses (Part IX)

$391,934,114

Management and general expenses

$4,699,575

Fundraising expenses

$0

Program service expenses (Part III)

$391,934,114

Program services were 98.8% 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.

Mission and programs · 2023

• MARKET ACCELERATION: ENABLING FLEET TRANSFORMATION-CALSTART DESIGNS, LEADS, AND IMPLEMENTS ZERO-EMISSION VEHICLE AND INFRASTRUCTURE INCENTIVE PROGRAMS FOR TRUCKS, BUSES, CARS, AND OFF-ROAD EQUIPMENT FOR FEDERAL, STATE, AND LOCAL GOVERNMENTS. THESE PROGRAMS SUPPORT PRIVATE AND PUBLIC FLEETS ACROSS THE U.S., HELPING REDUCE OPERATING COSTS AND EXPANDING DOMESTIC ZERO-EMISSION VEHICLE AND INFRASTRUCTURE MANUFACTURING. HIGHLIGHTS FROM FY2024 INCLUDE: - THE US DEPARTMENT OF ENERGY AWARDED CALSTART $4 MILLION TO LEAD THE CHARGE@WORK PROGRAM, A NATIONAL INITIATIVE TO SUPPORT EMPLOYER-BASED CHARGING. - THE COMMUNITIES IN CHARGE PROJECT, WITH AN $88 MILLION INVESTMENT FROM THE CALIFORNIA ENERGY COMMISSION (CES) AND THE ENERGIIZE PROJECT ($276 MILLION INVESTMENT THROUGH 2026) PROVIDES INCENTIVES VIA REIMBURSEMENT FOR EV AND H2 INFRASTRUCTURE TO SUPPORT MEDIUM/HEAVY-DUTY ZEVS. - IN PARTNERSHIP WITH THE MASSACHUSETTS CLEAN ENERGY CENTER (MASSCEC), CALSTART LAUNCHED THE RIDE CLEAN MASS PROGRAM, AN INITIATIVE AIMED AT HELPING THE VEHICLE-FOR-HIRE (VFH) INDUSTRY SWITCH TO ZERO-EMISSION VEHICLES. BY PROVIDING FINANCIAL INCENTIVES, THE RIDE CLEAN MASS PROGRAM HAS EARMARKED $5.35 MILLION TO SUPPORT DRIVERS THROUGH 2025. RIDE CLEAN MASS CHARGING HUB PROGRAM IS THE SECOND PHASE OF THE MASSCEC PARTNERSHIP WITH A $6.1 MILLION INVESTMENT TO CONSTRUCT 57 CHARGING HUBS ACROSS THE STATE THROUGH 2026. - CALIFORNIA'S AIR RESOURCES BOARD'S (CARB) CLEAN OFF-ROAD EQUIPMENT VOUCHER INCENTIVE PROJECT (CORE) HAS CUMULATIVELY RECEIVED $538 MILLION IN FUNDING, INCLUDING $15 MILLION ALLOCATED IN 2024 FOR ZERO-EMISSION EQUIPMENT FOR SMALL BUSINESSES AND PUBLIC AGENCIES. - CARB HAS CUMULATIVELY FUNDED $2.288 BILLION FOR THE HYBRID AND ZERO EMISSION TRUCK AND BUS VOUCHER INCENTIVE PROJECT (HVIP), INCLUDING $15 MILLION FOR THE INNOVATIVE SMALL E-FLEET (ISEF) SET-ASIDE WITHIN HVIP IN 2024.

  Expenses $382,189,944

• TECHNOLOGY DEVELOPMENT AND DEMONSTRATION PROGRAM- CALSTART PROVIDES INDEPENDENT ANALYSIS AND GUIDANCE TO HELP GOVERNMENT AND INDUSTRY ACCELERATE THE DEPLOYMENT OF COMMERCIALLY VIABLE ADVANCED TECHNOLOGIES. CALSTART SERVES AS THE MEDIUM- AND HEAVY-DUTY VEHICLE ADVISOR TO THE CALIFORNIA AIR RESOURCES BOARD (CARB) AND ASSISTS IN DEVELOPMENT OF ITS ONGOING HEAVY DUTY INVESTMENT PLAN, OFFERING TECHNICAL EXPERTISE TO ALIGN VEHICLE AND INFRASTRUCTURE PLANNING WITH MARKET NEEDS.IN 2024, CALSTART HOSTED TWO LARGE-SCALE RIDE AND DRIVE EVENTS IN POMONA AND OAKLAND, CA, FEATURING 70+ ZERO-EMISSION VEHICLES AND EQUIPMENT FOR FLEET OPERATORS, DEMONSTRATING REAL-WORLD PRODUCT READINESS AND PERFORMANCE.CALSTART IS A SUBRECIPIENT ON THREE EPA CLEAN PORTS PROGRAM AWARDS ON THE EAST COAST: - WITH THE PORT AUTHORITY OF NEW YORK AND NEW JERSEY ($451M TOTAL AWARD), CALSTART IS MANAGING $51M IN SUPPORT OF A CLEAN EQUIPMENT VOUCHER PROGRAM AND DEVELOPMENT OF NEAR-PORT CHARGING HUBS THROUGH A GREEN DRAYAGE ACCELERATOR. - IN MARYLAND, CALSTART IS SUPPORTING THE PORT AUTHORITY'S PLANNING GRANT AWARD ($147M TOTAL AWARD) THROUGH TRUCK OPERATOR ENGAGEMENT. CALSTART IS MANAGING $20M TO ADMINISTER A CLEAN EQUIPMENT AND INFRASTRUCTURE VOUCHER PROGRAM THROUGH A GREEN DRAYAGE ACCELERATOR. - CALSTART WAS AWARDED THE PRIME CONTRACT BY MASSCEC FOR THE RECENTLY LAUNCHED MHD MOBILE CHARGING PROGRAM, THROUGH WHICH FOUR FLEETS WILL PILOT MOBILE/TEMPORARY CHARGING SOLUTIONS TO ENABLE FLEET ELECTRIFICATION. - AS A PART OF A CONSULTANT TEAM, CALSTART COMPLETED THE MAINE CLEAN TRANSPORTATION ROADMAP FOR MEDIUM- AND HEAVY-DUTY VEHICLES FOR MAINE DOT, THE GOVERNOR'S ENERGY OFFICE, AND THE GOVERNOR'S OFFICE OF POLICY INNOVATION AND THE FUTURE. - CALSTART ALSO ADMINISTERS AND PROVIDES OUTREACH TO NYSERDA'S NEW YORK TRUCK VOUCHER INCENTIVE PROGRAM (NYTVIP). - MASS FLEET ADVISOR IS A TECHNICAL ASSISTANCE PROGRAM FOR PRIVATE MHDV FLEETS; CALSTART IS THE PRIME RECIPIENT OF MASSACHUSETTS CLEAN ENERGY CENTER'S (MASSCEC) PROGRAM. - IN 2024, CALSTART WAS AWARDED A FLEET ADVISORY PROGRAM IN NEW JERSEY BY THE NJ DEPARTMENT OF ENVIRONMENTAL PROTECTION.

  Expenses $5,542,124

• PROMOTING ADVANCED TRANSPORTATION TECHNOLOGIES CHAMPIONS (MEMBER SERVICES, PUBLICATIONS, AND CONFERENCES)- CALSTART PROVIDES A WIDE RANGE OF NETWORKING AND STRATEGIC PARTNERING OPPORTUNITIES FOR ITS 250+ MEMBER COMPANIES AND STAKEHOLDER ORGANIZATIONS. CALSTART MEMBERS BENEFIT FROM THE UNIQUE RESEARCH AND ANALYSIS REPORTS AND HAVE ACCESS TO CURATED INFORMATION ABOUT OPPORTUNITIES AND INDUSTRY TRENDS IN ADVANCED TRANSPORTATION TECHNOLOGIES. OUR PROGRAM TEAMS ALSO CONDUCT WEBINARS TO INFORM MEMBERS AND OTHERS OF THE LATEST DEVELOPMENTS, OPPORTUNITIES, AND FORECASTS ABOUT EV'S AND OTHER ADVANCED TRANSPORTATION TECHNOLOGIES.IN 2024, CALSTART PUBLISHED UPDATES TO ITS INDUSTRY-LEADING "ZEROING IN ON ZERO-EMISSION TRUCKS AND "ZEROING IN ON ZERO-EMISSION BUSES" REPORTS, BOTH OF WHICH PROVIDE CONCISE AND CURRENT SNAPSHOTS OF ZERO-EMISSION VEHICLE DEPLOYMENT STATISTICS ACROSS THE UNITED STATES. THESE REPORTS OFFER INSIGHTS INTO KEY TRENDS DRIVING GROWTH IN ADOPTION, AS WELL AS OPPORTUNITIES TO FURTHER ACCELERATE THIS GROWTH THAT CAN HELP INFORM POLICYMAKERS, MANUFACTURERS, FLEET OWNERS, AND FINANCIAL STAKEHOLDERS. CALSTART ALSO DEVELOPED A GROUNDBREAKING FINANCIAL MODEL, PUBLISHED IN "FINANCING FLEET ELECTRIFICATION: BATTERY-ELECTRIC TRUCK COMPONENT RESALE HIGHLIGHTS RESIDUAL VALUE UPSIDE", FOR BENCHMARKING THE ESTIMATED VALUE OF BATTERY-ELECTRIC TRUCKS (BETS) AT THE END OF THEIR FINANCING TERMS. THIS METHOD SHOWS THAT BET LEASE AND FINANCING UNDERWRITERS SHOULD LOOK TO SECOND-LIFE APPLICATIONS OF BET COMPONENTS AND CAN ATTRIBUTE BETS WITH HIGHER RESIDUAL VALUE, MEANING MORE AFFORDABLE PAYMENTS FOR FLEETS. IN ADDITION, CALSTART'S DRIVE TO ZERO PROGRAM PUBLISHED THE THIRD ANNUAL "GLOBAL PROGRESS TOWARD DECARBONIZING TRANSPORTATION: MULTI-COUNTRY ACTION PLAN FOR 2024 UPDATE (MCAP)", WHICH HIGHLIGHTS THE FORWARD ACTION OF THE 38 GLOBAL MOU COUNTRY SIGNATORIES TOWARD FULFILLING THE GOAL OF 30% NEW MEDIUM- AND HEAVY-DUTY VEHICLE (MHDV) SALES BEING ZERO-EMISSION BY 2030, WITH 100% BY 2040. THE 2024 MCAP, PREPARED FOR GLOBAL MOU COUNTRIES AND ENDORSERS, PROVIDES NEW INFORMATION ON THE OVERALL ZERO-EMISSION MHDV MARKET AND OFFERS AN OVERVIEW OF THE IMPACTFUL POLICY MEASURES IMPLEMENTED BY GLOBAL MOU SIGNATORY NATIONS.

  Expenses $1,300,237

• OTHER PROGRAMS

  Expenses $2,901,809 · Revenue $211

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

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

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

2023

Filed

7 August 2025

IRS schema version

2023v6.0

Source object

202512199349301011

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