Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: MEMBERSHIP FEE REVENUE

  total $238,546,787 · related or exempt $223,664,361 · unrelated business $14,882,426

• 2b · Program service revenue: SUPPLEMENTAL FUNDING

  total $231,973,695 · related or exempt $184,767,019 · unrelated business $47,206,676

• 2c · Program service revenue: BILLABLE SERVICES

  total $18,198,066 · related or exempt $1,370,385 · unrelated business $16,827,681

• 3 · Investment income

  total $11,160,712 · excluded $11,160,712

• 5 · Royalties

  total $419,821 · excluded $419,821

• 7a · Gross sales of assets other than inventory

  securities $349,546,655 · other assets $1,772,545

• 7b · Less cost or other basis and sales expenses

  securities $349,597,671 · other assets $0

• 7c · Gain or loss

  securities -$51,016 · other assets $1,772,545

• 7d · Net gain or loss

  total $1,721,529 · excluded $1,721,529

• 11a · Other revenue: SALE OF R&D REPORTS

  total $752,871 · related or exempt $752,871

• 11b · Other revenue: MEMBERSHIP TERM. FEE

  total $400,000 · related or exempt $400,000

• 11c · Other revenue: SALE OF SOLAR POWER

  total $3,032 · unrelated business $3,032

• 11d · All other revenue

  total $21,078 · related or exempt $21,078

• 11e · Other revenue, total

  $1,176,981

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $793,038 · program services $793,038

• 2 · Grants to domestic individuals

  total $17,000 · program services $17,000

• 3 · Grants to foreign organizations and individuals

  total $64,437 · program services $64,437

• 5 · Compensation of officers, directors and key employees

  total $16,222,058 · management and general $16,222,058

• 7 · Other salaries and wages

  total $183,326,148 · program services $113,846,566 · management and general $69,479,582

• 8 · Pension plan contributions

  total $21,032,201 · program services $13,444,180 · management and general $7,588,021

• 9 · Other employee benefits

  total $45,556,309 · program services $29,120,453 · management and general $16,435,856

• 10 · Payroll taxes

  total $14,188,316 · program services $9,069,439 · management and general $5,118,877

• 11b · Fees: legal

  total $2,334,133 · program services $537,009 · management and general $1,797,124

• 11c · Fees: accounting

  total $397,789 · management and general $397,789

• 11d · Fees: lobbying

  total $23,500 · management and general $23,500

• 11f · Fees: investment management

  total $194,441 · management and general $194,441

• 11g · Fees: other

  total $5,758,480 · program services $492,728 · management and general $5,265,752

• 13 · Office expenses

  total $22,825,042 · program services $19,958,303 · management and general $2,866,739

• 14 · Information technology

  total $12,151,308 · management and general $12,151,308

• 16 · Occupancy

  total $6,438,962 · program services $7,518,500 · management and general -$1,079,538

• 17 · Travel

  total $19,353,190 · program services $15,467,484 · management and general $3,885,706

• 19 · Conferences, conventions and meetings

  total $14,591,301 · program services $14,103,721 · management and general $487,580

• 21 · Payments to affiliates

  total $22,289,393 · program services $12,312,687 · management and general $9,976,706

• 22 · Depreciation, depletion and amortization

  total $9,444,276 · program services $10,870,173 · management and general -$1,425,897

• 23 · Insurance

  total $1,348,129 · management and general $1,348,129

• 24a · Other expenses: R&D EXPENSES

  total $111,835,364 · program services $111,835,364

• 24b · Other expenses: STAFFING

  total $1,329,519 · management and general $1,329,519

• 24c · Other expenses: PRINTING & PUBLICATIONS

  total $1,229,998 · program services $1,044,288 · management and general $185,710

• 24d · Other expenses: EQUIPMENT RENTAL & MAIN

  total $1,134,048 · management and general $1,134,048

• 24e · All other expenses

  total $2,453,064 · program services $1,358,214 · management and general $1,094,850

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $43,324,218 · end of year $52,163,159

• 2 · Savings and temporary cash investments

  beginning of year $74,739,439 · end of year $22,767,026

• 4 · Accounts receivable

  beginning of year $61,042,924 · end of year $67,044,086

• 9 · Prepaid expenses and deferred charges

  beginning of year $12,108,224 · end of year $12,994,796

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

  $187,654,567

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

  $108,799,304

• 10c · Land, buildings and equipment, net

  beginning of year $65,433,007 · end of year $78,855,263

• 12 · Investments: other securities

  beginning of year $150,560,730 · end of year $150,676,989

• 15 · Other assets

  beginning of year $20,561,624 · end of year $17,385,175

• 17 · Accounts payable and accrued expenses

  beginning of year $83,803,370 · end of year $80,594,476

• 19 · Deferred revenue

  beginning of year $164,138,637 · end of year $158,532,904

• 25 · Other liabilities

  beginning of year $28,407,979 · end of year $24,048,080

• 27 · Net assets without donor restrictions

  beginning of year $151,420,180 · end of year $138,711,034

The filer's explanations (Part III)

PART I, LINE 1A

FIRST-CLASS TRAVEL SENIOR VICE PRESIDENTS AND THE CHIEF EXECUTIVE OFFICER, ALONG WITH CERTAIN BOARD MEMBERS FOR WHOM EPRI REIMBURSES TRAVEL, ARE AUTHORIZED TO BOOK AIR TRAVEL ONE CLASS ABOVE ECONOMY ON FLIGHTS WHERE THE PUBLISHED DURATION IS MORE THAN FOUR (4) HOURS, OR THE TRIP DURATION (DEPARTURE AIRPORT TO DESTINATION AIRPORT) REQUIRES ONE OR MORE STOPS FOR A TOTAL PUBLISHED DURATION OF MORE THAN SEVEN (7) HOURS. PERSONAL SERVICES EPRI MAKES AVAILABLE TO ITS KEY OFFICERS A FINANCIAL PLANNING BENEFIT THROUGH AN OUTSIDE VENDOR, WHICH EACH OFFICER MAY DETERMINE TO ACCEPT OR DECLINE. OFFICERS SELECTING THE SERVICE MAY ALSO USE THE PLANNER FOR TAX PREPARATION ADVICE. THE BENEFIT IS TREATED AS TAXABLE INCOME TO THE OFFICER. THERE WERE TWELVE OFFICERS ELIGIBLE FOR A VOLUNTARY FINANCIAL PLANNING BENEFIT OFFERED BY EPRI AND SEVEN OFFICERS ACCEPTING THE PROGRAM RESULTING IN $14,500 OF TAXABLE INCOME TO FIVE OF THOSE OFFICERS, $7,190 OF TAXABLE INCOME TO ONE OF THOSE OFFICERS AND $3,595 OF TAXABLE INCOME TO ONE OF THOSE OFFICERS.

PART I, LINES 4A-B

SEVERANCE ARRANGEMENTS THE INSTITUTE HAS ESTABLISHED SEVERANCE PLANS FOR ITS REGULAR EMPLOYEES, INCLUDING OFFICERS. EMPLOYEES HAVE NO PRE-EXISTING VESTED OR ACCRUED RIGHTS TO A SEVERANCE BENEFIT UNDER THESE PLANS, AND THE PLANS MAY BE CHANGED AT THE DISCRETION OF THE INSTITUTE. SEVERANCE BENEFITS IN EACH PLAN ARE CONTINGENT UPON QUALIFYING EMPLOYEE TERMINATIONS AND OTHER CONDITIONS AS REQUIRED IN THE PARTICULAR PLAN. GENERALLY, THE AMOUNT OF ANY SEVERANCE BENEFIT IS DEPENDENT UPON THE POSITION HELD BY THE EMPLOYEE AND LENGTH OF SERVICE UP TO FORTY-TWO WEEKS OF SALARY AND TWO MONTHS OF HEALTH BENEFIT CONTINUATION IN THE OFFICER PLAN. IN CONNECTION WITH THE LONG-TERM INCENTIVE PROGRAM, OFFICERS (AS DETERMINED BY THE BOARD OR A BOARD COMMITTEE) MAY BE ENTITLED TO A PAYMENT UPON QUALIFYING TERMINATIONS, AS REQUIRED IN THE PROGRAM. IN 2024, THE FOLLOWING INDIVIDUAL RECEIVED A SEVERANCE PAYMENT WHICH IS REPORTED AS TAXABLE INCOME ON SCHEDULE J, PART II, COLUMN (B)(III): CATHERINE JEREZA: $653,458 SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN EPRI PROVIDES A RETIREMENT CONTRIBUTION FOR ITS EMPLOYEES BASED ON THEIR COMPENSATION. THIS RETIREMENT CONTRIBUTION IS USUALLY IN THE FORM OF AN EMPLOYER CONTRIBUTION TO ITS RETIREMENT PLANS. HOWEVER, IF THE CALCULATED RETIREMENT CONTRIBUTION EXCEEDS THE RETIREMENT PLAN EMPLOYER CONTRIBUTION LIMIT FOR THE YEAR, THE AMOUNT OF THE RETIREMENT CONTRIBUTION IN EXCESS OF THE LIMIT IS REPORTED ON THE EMPLOYEES' FORM W-2 AS TAXABLE INCOME AS REQUIRED AND REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III) AS FOLLOWS: ARSHAD MANSOOR : $100,175 NEIL M WILMSHURST : $13,045 ROBERT N CHAPMAN : $8,888 NEVA ESPINOZA : $1,135

PART I, LINE 7

NON-FIXED PAYMENTS OFFICERS, AS WELL AS EMPLOYEES, ARE ELIGIBLE FOR DISCRETIONARY INCENTIVE AWARDS BASED ON EPRI'S RESULTS AGAINST CORPORATE GOALS, WHICH ARE ESTABLISHED BY THE COMPENSATION AND LEADERSHIP DEVELOPMENT COMMITTEE OF THE BOARD, AND EACH INDIVIDUAL'S PERFORMANCE AND CONTRIBUTION TOWARD ACHIEVING THOSE GOALS. INCENTIVE AWARDS ARE STRONGLY TIED TO BOTH CORPORATE AND INDIVIDUAL PERFORMANCE. THE LEVEL OF INCENTIVE AWARDS FOR WHICH AN EMPLOYEE IS ELIGIBLE IS DETERMINED BASED AS A PERCENTAGE OF BASE SALARY, DEPENDING UPON THE EMPLOYEE'S POSITION, AND ARE CONSIDERED IN THE DETERMINATION BY EPRI OF A TOTAL REASONABLE COMPENSATION PACKAGE FOR THE POSITION. THE COMPENSATION AND LEADERSHIP DEVELOPMENT COMMITTEE OF THE BOARD OF DIRECTORS CONSIDERS AND, IN ITS DISCRETIONARY JUDGMENT, APPROVES INCENTIVE PAYMENTS FOR EACH OFFICER AT THE LEVEL OF VICE PRESIDENT OR ABOVE, WITH THE EXCEPTION OF THE INCENTIVE PAYMENT FOR THE CHIEF EXECUTIVE OFFICER WHICH IS CONSIDERED AND, IN ITS DISCRETIONARY JUDGMENT, APPROVED BY THE EXECUTIVE COMMITTEE OF THE BOARD.

Related corporations and trusts

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

• EPRI INTERNATIONAL INC

  C · INTL SALES AND R&D APPLICATIONS · DE · 100% owned · share of income $1,149,006 · share of assets $8,520,502 · controlled entity

  Directly controlled by EPRI INC

• EPRI EUROPE DAC

  C · R&D APPLICATIONS · EI · 100% owned · share of income $980,921 · share of assets $8,087,585 · controlled entity

  Directly controlled by EPRI INTER INC

• EPRI GULF LTD

  C · HOLDING COMPANY · UK · 100% owned · controlled entity

  Directly controlled by EPRI INC

• EPRI GULF ENERGY RESEARCH LLC-SPC

  C · R&D AND OTHER BUSINESS ACTIVITIES · AE · 100% owned · controlled entity

  Directly controlled by EPRI GULF LTD