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← CALIFORNIA CLEAN ENERGY FUND

Form 990 for tax year 2024

Filed by CALIFORNIA CLEAN ENERGY FUND.

Totals

Total revenue
$2,295,602
Total expenses
$2,763,955
Contributions and grants received
$2,299,023
Grants paid
$75,000
Program service revenue
$0
Investment income
$0
Other revenue
-$3,421
Total assets, end of year
$4,843,531
Total liabilities, end of year
$3,126,484
Net assets or fund balances, end of year
$1,717,047
Program services expenses (Part IX)
$1,841,773
Management and general expenses
$922,182
Fundraising expenses
$0
Program service expenses (Part III)
$1,841,773

Program services were 66.6% 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)

    $2,298,023

  • 1f · All other contributions, gifts and grants

    $1,000

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Exchange Loss

    total -$156 · excluded -$156

  • 11b · Other revenue: Investment Loss in LPS

    total -$3,265 · excluded -$3,265

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    -$3,421

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $75,000 · program services $75,000

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $915,298 · program services $803,269 · management and general $112,029

  • 7 · Other salaries and wages

    total $369,756 · program services $324,578 · management and general $45,178

  • 8 · Pension plan contributions

    total $11,649 · program services $10,240 · management and general $1,409

  • 9 · Other employee benefits

    total $218,619 · program services $190,714 · management and general $27,905

  • 10 · Payroll taxes

    total $115,697 · program services $100,997 · management and general $14,700

  • 11b · Fees: legal

    total $2,872 · management and general $2,872

  • 11c · Fees: accounting

    total $111,420 · management and general $111,420

  • 11g · Fees: other

    total $569,366 · program services $186,152 · management and general $383,214 · fundraising $0

  • 12 · Advertising and promotion

    total $3,876 · program services $3,876

  • 13 · Office expenses

    total $7,385 · program services $5,531 · management and general $1,854

  • 14 · Information technology

    total $91,656 · program services $21,687 · management and general $69,969

  • 16 · Occupancy

    total $88,920 · management and general $88,920

  • 17 · Travel

    total $43,868 · program services $10,573 · management and general $33,295

  • 19 · Conferences, conventions and meetings

    total $12,351 · program services $10,624 · management and general $1,727

  • 22 · Depreciation, depletion and amortization

    total $25,938 · program services $25,591 · management and general $347

  • 23 · Insurance

    total $7,127 · management and general $7,127

  • 24a · Other expenses: Public Relations

    total $58,874 · program services $58,874

  • 24b · Other expenses: Web Site

    total $12,953 · program services $10,789 · management and general $2,164

  • 24c · Other expenses: Payroll and Bank Fees

    total $8,422 · management and general $8,422

  • 24d · Other expenses: License/Taxes/Fees

    total $5,531 · management and general $5,531

  • 24e · All other expenses

    total $7,377 · program services $3,278 · management and general $4,099 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $134,254 · end of year $507,008

  • 4 · Accounts receivable

    beginning of year $3,245,891 · end of year $3,612,841

  • 5 · Loans and receivables from officers and key people

    end of year $0

  • 6 · Loans and receivables from disqualified persons

    end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $209,117 · end of year $209,985

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

    $385,100

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

    $353,138

  • 10c · Land, buildings and equipment, net

    beginning of year $60,734 · end of year $31,962

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $306,040 · end of year $49,599

  • 15 · Other assets

    beginning of year $349,414 · end of year $432,136

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,500,888 · end of year $1,899,963

  • 19 · Deferred revenue

    beginning of year $147,050 · end of year $147,050

  • 22 · Loans and payables to officers and key people

    end of year $0

  • 25 · Other liabilities

    beginning of year $256,670 · end of year $1,079,471

  • 27 · Net assets without donor restrictions

    beginning of year $2,363,609 · end of year $1,679,814

  • 28 · Net assets with donor restrictions

    beginning of year $37,233 · end of year $37,233

Mission and programs · 2024

Mission

THE CALIFORNIA CLEAN ENERGY FUND SUPPORTS ENTREPRENEURS TO DRIVE INNOVATION AND BUILD EQUITY INTO THE CLEAN ECONOMY.

Activities or mission (Part I)

PROGRAM AND FUND MANAGER DRIVING CLEAN ENERGY ENTREPRENEURSHIP

  • CONTINUOUS PROGRAM DELIVERY OF THE CALIFORNIA SUSTAINABLE ENERGY ENTREPRENEUR DEVELOPMENT (CALSEED) PROGRAM WITH THE GOAL OF AWARDING UP TO $66M IN GRANTS TO A DIVERSE POOL OF SUSTAINABLE ENERGY ENTREPRENEURS. THE PROGRAM WAS LAUNCHED IN 2016 AND IS EXPECTED TO CONTINUE THROUGH 2027. ALTHOUGH THE PROGRAM IS OPEN TO ALL WHO QUALIFY, WOMEN AND PEOPLE OF COLOR ARE ESPECIALLY ENCOURAGED TO APPLY. THE PROGRAM IS LED BY THE CALIFORNIA CLEAN ENERGY FUND (UNDER NEWENERGY NEXUS BRANDING) IN PARTNERSHIP WITH PROGRAM PARTNERS TO PROVIDE NOT ONLY GRANT FUNDS PROVIDED BY THE CALIFORNIA ENERGY COMMISSION BUT ALSO BUSINESS COACHING AND INTRODUCTIONS TO CLEAN ENERGY INVESTORS AND COMMERCIALIZATION PARTNERS.

    Expenses $1,166,938 · Grants $75,000

  • CALTESTBED PROVIDES VOUCHERS TO CALIFORNIA CLEAN ENERGY ENTREPRENEURS READY TO TEST THEIR INNOVATIONS IN TESTBED FACILITIES ACROSS THE STATE. THE PROGRAM, FUNDED THROUGH A GRANT BY THE CALIFORNIA ENERGY COMMISSION, ENDEAVORS TO EXPEDITE CLEAN ENERGY INNOVATORS' PATHWAY TO COMMERCIALIZATION. DURING 2024 THE PROGRAM PROVIDED ACTIVE TECHNOLOGY TESTING SERVICES FOR 35 OUT OF THE 90 ENTREPRENEURS THAT WERE SELECTED IN FOUR COHORTS SINCE 2019. THE TECHNOLOGY TESTING IS PROVIDED THROUGH LAB PARTNERS. IN ADDITION TO TESTING VOUCHERS THE PROGRAM PROVIDES STRONG NETWORK CONNECTIONS TO PILOT CUSTOMERS AND INVESTORS.

    Expenses $534,088

  • CALCEF IS A SUBCONTRACTOR ON THE POWER FORWARD GRANT PROGRAM, A BATTERY MANUFACTURING GRANT PROGRAM FUNDED BY THE CALIFORNIA ENERGY COMMISSION. THE PROGRAM IS DESIGNED TO FURTHER THE GOAL OF TRANSITIONING TO ZERO-EMISSION TRANSPORTATION BY SUPPORTING RESEARCH IN ZERO-EMISSION VEHCILE BATTERY MANUFACTURING. CALCEF IS SUPPORTING CALSTART, THE LEAD IMPLEMENTER, THROUGH DEVELOPMENT OF A COMMUNITY BENEFITS AND WORKFORCE PLAN, A COMPONENT OF THE PROGRAM'S OUTREACH, APPLICATION PROCESS, SELECTION AND OVERSIGHT MEANT TO ENSURE ACCESSIBILITY FOR DISADVANTAGED AND LOW-INCOME COMMUNITIES.

    Expenses $140,747

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Janet Dalziell

    Chair START: 5/2024

    Total calculated
    $0
    Hours/week
    3

  • Jon Foster

    Secretary/Treasurer

    Total calculated
    $0
    Hours/week
    3 + 4 related

  • Julie Blunden

    Chair END: 5/2024

    Total calculated
    $0
    Hours/week
    3

  • Ian Rogoff

    Board Member

    Total calculated
    $0
    Hours/week
    3 + 4 related

  • Christina Borsum

    CFO

    Total calculated
    $221,375
    From this org
    $207,783
    From related orgs
    $0
    Other
    $13,592
    Hours/week
    16 + 24 related

    Schedule J breakdown matched by us

    Base
    $207,783
    Bonus
    $0
    Other
    $0
    Deferred
    $6,300
    Nontaxable benefits
    $7,292
    Filer's total
    $221,375

  • Danny Kennedy

    Executive Director END: 7/2024

    Total calculated
    $157,803
    From this org
    $129,471
    From related orgs
    $0
    Other
    $28,332
    Hours/week
    16 + 24 related

    Schedule J breakdown matched by us

    Base
    $129,471
    Bonus
    $0
    Other
    $0
    Deferred
    $3,884
    Nontaxable benefits
    $24,448
    Filer's total
    $157,803

  • Henri Van Eeghen

    CEO START: 8/2024

    Total calculated
    $120,014
    From this org
    $112,485
    From related orgs
    $0
    Other
    $7,529
    Hours/week
    8 + 32 related

  • Grace Nitafan

    Controller

    Total calculated
    $191,803
    From this org
    $176,109
    From related orgs
    $0
    Other
    $15,694
    Hours/week
    15 + 25 related

    Schedule J breakdown matched by us

    Base
    $176,109
    Bonus
    $0
    Other
    $0
    Deferred
    $5,383
    Nontaxable benefits
    $10,311
    Filer's total
    $191,803

  • Rebecca Lee

    Managing Director of CA

    Total calculated
    $224,303
    From this org
    $217,770
    From related orgs
    $0
    Other
    $6,533
    Hours/week
    33 + 7 related

    Schedule J breakdown matched by us

    Base
    $217,770
    Bonus
    $0
    Other
    $0
    Deferred
    $6,533
    Nontaxable benefits
    $0
    Filer's total
    $224,303

  • Alisa Ahmadian

    Head of Partnerships, Events & Brand

    Total calculated
    $123,437
    From this org
    $115,919
    From related orgs
    $0
    Other
    $7,518
    Hours/week
    35 + 5 related

  • Joy Larson

    Program Director

    Total calculated
    $161,675
    From this org
    $150,268
    From related orgs
    $0
    Other
    $11,407
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,268
    Bonus
    $0
    Other
    $0
    Deferred
    $4,552
    Nontaxable benefits
    $6,855
    Filer's total
    $161,675

  • Rachel Yu

    Program Development and Operations Director

    Total calculated
    $153,075
    From this org
    $142,653
    From related orgs
    $0
    Other
    $10,422
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $142,653
    Bonus
    $0
    Other
    $0
    Deferred
    $4,280
    Nontaxable benefits
    $6,142
    Filer's total
    $153,075

  • Tristan Tremschnig

    Global Communications Director

    Total calculated
    $160,747
    From this org
    $150,000
    From related orgs
    $0
    Other
    $10,747
    Hours/week
    9 + 31 related

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $0
    Other
    $0
    Deferred
    $4,500
    Nontaxable benefits
    $6,247
    Filer's total
    $160,747

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 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 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

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.

  • CALCEF INNOVATIONS

    501(c)(3) · GROW CLEAN ENERGY MARKETS AND ACCELERATE EQUITABLE CLEAN ENERGY ADOPTION · CA · controlled entity

    Directly controlled by CALIFORNIA CLEAN ENERGY FUND

  • NEW ENERGY NEXUS ENVENTURE

    501(c)(3) · SUPPORT SOCIAL ENTERPRISES THAT DISTRIBUTE CLEAN ENERGY PRODUCTS · CA

    Directly controlled by CALCEF INNOVATIONS

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.

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • MICROGRID CATALYTIC CAPITAL PARTNERS LLC

    Related · INVESTMENT FUND TO FACILIATE INVESTMENT IN MICROGRID · DE · 100% owned · share of income -$3,265 · share of assets $85,166

    Directly controlled by California Clean Energy Fund

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • NEW ENERGY NEXUS SHANGHAI LTD

    C Corporation · BUSINESS CONSULTING FOR RENEWABLE ENERGY · CH · 0% owned

    Directly controlled by NA

  • NEW ENERGY NEXUS VENTURES PTE LTD

    C Corporation · INVESTMENT MANAGEMENT COMPANY · SN · 0% owned

    Directly controlled by NA

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.1
Source object
202543219349320064

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