Skip to content
Nonprofiteer
← EVERGREEN CLIMATE INNOVATIONS

Form 990 for tax year 2022

Filed by EVERGREEN CLIMATE INNOVATIONS.

Totals

Total revenue
$4,404,859
Total expenses
$2,788,904
Contributions and grants received
$4,080,705
Grants paid
$0
Program service revenue
$101,727
Investment income
$220,427
Other revenue
$2,000
Total assets, end of year
$15,417,166
Total liabilities, end of year
$3,233,654
Net assets or fund balances, end of year
$12,183,512
Program services expenses (Part IX)
$2,264,078
Management and general expenses
$222,460
Fundraising expenses
$302,366
Program service expenses (Part III)
$2,264,078

Program services were 81.2% 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)

    $232,835

  • 1f · All other contributions, gifts and grants

    $3,847,870

  • 2a · Program service revenue: CLEAN ENERGY ENTREPREN

    total $57,428 · related or exempt $57,428

  • 2b · Program service revenue: EVENTS

    total $44,299 · related or exempt $44,299

  • 3 · Investment income

    total $130,469 · excluded $130,469

  • 6a · Gross rents

    real property $2,000

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $2,000

  • 6d · Net rental income or loss

    total $2,000 · excluded $2,000

  • 7a · Gross sales of assets other than inventory

    securities $89,958

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

    securities $0

  • 7c · Gain or loss

    securities $89,958

  • 7d · Net gain or loss

    total $89,958 · excluded $89,958

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $266,380 · program services $173,147 · management and general $26,638 · fundraising $66,595

  • 7 · Other salaries and wages

    total $1,084,068 · program services $865,055 · management and general $101,781 · fundraising $117,232

  • 8 · Pension plan contributions

    total $6,873 · management and general $6,873

  • 9 · Other employee benefits

    total $144,851 · program services $116,534 · management and general $7,664 · fundraising $20,653

  • 10 · Payroll taxes

    total $85,543 · program services $67,556 · management and general $6,343 · fundraising $11,644

  • 11b · Fees: legal

    total $22,124 · program services $21,125 · management and general $999

  • 11c · Fees: accounting

    total $79,452 · program services $58,531 · management and general $7,822 · fundraising $13,099

  • 11g · Fees: other

    total $247,012 · program services $226,237 · management and general $330 · fundraising $20,445

  • 12 · Advertising and promotion

    total $76,203 · program services $68,087 · management and general $3,278 · fundraising $4,838

  • 13 · Office expenses

    total $37,100 · program services $34,027 · management and general $1,263 · fundraising $1,810

  • 16 · Occupancy

    total $97,272 · program services $50,374 · management and general $33,658 · fundraising $13,240

  • 17 · Travel

    total $24,294 · program services $20,326 · management and general $1,583 · fundraising $2,385

  • 19 · Conferences, conventions and meetings

    total $23,196 · program services $19,468 · management and general $1,524 · fundraising $2,204

  • 20 · Interest

    total $32,939 · program services $32,273 · management and general $666

  • 22 · Depreciation, depletion and amortization

    total $59,469 · program services $45,718 · management and general $5,656 · fundraising $8,095

  • 23 · Insurance

    total $26,044 · program services $17,043 · management and general $5,456 · fundraising $3,545

  • 24a · Other expenses: DIRECT COST OF EVENTS

    total $469,025 · program services $442,457 · management and general $10,926 · fundraising $15,642

  • 24e · All other expenses

    total $7,059 · program services $6,120 · fundraising $939

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,569,530 · end of year $2,980,106

  • 2 · Savings and temporary cash investments

    beginning of year $150,532 · end of year $150,551

  • 3 · Pledges and grants receivable

    beginning of year $359,310 · end of year $1,736,601

  • 7 · Other notes and loans receivable

    beginning of year $1,600,044 · end of year $1,975,044

  • 9 · Prepaid expenses and deferred charges

    beginning of year $67,622 · end of year $30,352

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

    $200,553

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

    $121,825

  • 10c · Land, buildings and equipment, net

    beginning of year $110,604 · end of year $78,728

  • 13 · Investments: program-related

    beginning of year $3,842,268 · end of year $8,199,937

  • 15 · Other assets

    beginning of year $187,048 · end of year $265,847

  • 17 · Accounts payable and accrued expenses

    beginning of year $99,000 · end of year $82,654

  • 23 · Secured mortgages and notes payable

    beginning of year $1,650,000 · end of year $3,150,000

  • 24 · Unsecured notes and loans payable

    beginning of year $1,000 · end of year $1,000

  • 27 · Net assets without donor restrictions

    beginning of year $5,820,930 · end of year $10,134,410

  • 28 · Net assets with donor restrictions

    beginning of year $1,316,028 · end of year $2,049,102

Mission and programs · 2022

Mission

EVERGREEN CLIMATE INNOVATIONS (F/K/A CLEAN ENERGY TRUST) WAS FOUNDED IN 2010 WITH THE MISSION OF PROVIDING CATALYTIC CAPITAL AND SUPPORT TO ENTREPRENEURS COMMERCIALIZING TECHNOLOGIES AND SOLUTIONS FOR CLEAN ENERGY, DECARBONIZATION, AND ENVIRONMENTAL SUSTAINABILITY. EVERGREEN ALSO WORKS TO STRENGTHEN THE INNOVATION ECOSYSTEM IN THE MIDWEST REGION OF THE UNITED STATES BY CONVENING EVENTS, FOSTERING RELATIONSHIPS, AND PROMOTING THE SHARING OF KNOWLEDGE AND RESOURCES BETWEEN STAKEHOLDERS IN THE REGION.

Activities or mission (Part I)

EVERGREEN CLIMATE INNOVATIONS IS A CLEAN TECH ACCELERATOR THAT FUELS INNOVATION TO CREATE A HEALTHIER ENVIRONMENT AND MORE PROSPEROUS FUTURE.

  • THE 501VC INVESTMENT PROGRAM IS THE MECHANISM THROUGH WHICH EVERGREEN PROVIDES CATALYTIC CAPITAL AND SUPPORT TO EARLY-STAGE ENTREPRENEURS. THERE ARE THREE COMPONENTS TO THE INVESTMENT PROGRAM: FIND, FUND, AND GROW. "FIND" REPRESENTS THE EFFORT EVERGREEN UNDERTAKES TO IDENTIFY AND RECRUIT HIGH-POTENTIAL ENTREPRENEURS INTO ITS PROGRAMMING. "FUND" REFERS TO THE INVESTMENTS EVERGREEN MAKES IN THE PROMISING STARTUPS FOUNDED BY THESE ENTREPRENEURS. "GROW" DESCRIBES THE ONGOING ENGAGEMENT AND PROGRAMMING EVERGREEN PROVIDES STARTUPS AND ENTREPRENEURS THAT ARE PART OF ITS PORTFOLIO. THIS SUPPORT ENCOMPASSES EDUCATIONAL CONTENT, MENTORING, BUSINESS DEVELOPMENT ASSISTANCE, AND FUNDRAISING SUPPORT.

    Expenses $1,354,038 · Revenue $51,727

  • EVERGREEN RECEIVED A GRANT FROM THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION TO LAUNCH ENTREPRENEURIAL SUPPORT PROGRAMS. CORE IS THE STRUCTURED FUNDRAISING PROGRAM DESIGNED TO CATALYZE ADDITIONAL INVESTMENT FROM INSTITUTIONAL INVESTORS IN A SECTOR AND REGION WHERE RAISING CAPITAL IS EXTREMELY CHALLENGING. WORKING WITH INDIVIDUAL STARTUPS, EVERGREEN HELPS THESE COMPANIES SUCCESSFULLY EXECUTE FUNDRAISING BY ASSESSING INVESTMENT READINESS, HELPING PREPARE FINANCIAL MODELS AND PRESENTATION MATERIALS, SUPPORTING OUTREACH TO FUNDERS, SUPPORTING DUE DILIGENCE REQUESTS FROM POTENTIAL INVESTORS, AND ADVISING ON DEAL TERM NEGOTIATION. THESE ARE TIME CONSUMING ACTIVITIES AND EVERGREEN'S ENGAGEMENT NOT ONLY ENSURES GREATER SUCCESS BUT ALSO FREES TIME FOR THE ENTREPRENEURS TO FOCUS ON THEIR CORE BUSINESSES.

    Expenses $330,194 · Revenue $50,000

  • WITH SUPPORT FROM FOUNDATION GRANTS, EVERGREEN LEADS A CLEAN ENERGY EMPLOYMENT TRENDS STUDY ENCOMPASSING A REGION COVERING 12 MIDWEST STATES. THE DATA IS USED TO ILLUSTRATE THE GROWTH AND CONTRIBUTION OF THIS SECTOR TO ECONOMIC DEVELOPMENT AND IS A VALUABLE RESOURCE TO POLICYMAKERS AND LEGISLATORS. THE CLEAN JOBS MIDWEST STUDY IS A COMPONENT OF A LARGER NATIONAL STUDY CONDUCTED BY A CONSORTIUM OF PARTNERS, ENCOMPASSING ALL 50-STATES AND THE DISTRICT OF COLUMBIA.

    Expenses $230,368

  • EVERGREEN RECEIVED A GRANT FROM THE US DEPARTMENT OF ENERGY, ENERGY PROGRAM FOR INNOVATION CLUSTERS(EPIC). THIS PROGRAM HELPS GROW THE MIDWEST ENERGY INNOVATION ECOSYSTEM AND ADVANCED MANUFACTURING ECOSYSTEM. THE INITIATIVES ENABLES BOTH THE DELIVERY OF ASSESSIBLE EDUCATION AND TRAINING RESOURCES, AS WELL AS A COMPREHEVSIVE ACCELERATOR PROGRAMS FOR ENERGY HARDWARE STARTUPS IN THE MIDWEST AND BEYOND.

    Expenses $349,478

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Amy Francetic

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Karen Kerr

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Tim Stoijka

    DEVELOPMENT CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Sanjeev Krishnan

    DEVELOPMENT COMMITTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Cheryl Martin

    DEVELOPMENT COMMITTEE

    Total calculated
    $0
    Hours/week
    1

  • Andrew Schwertfeger

    DEVELOPMENT COMMITTEE

    Total calculated
    $0
    Hours/week
    1

  • Colleen Calhoun

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Maggie Pakula

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jeff Yingling

    DEVELOPMENT COMMITTEE

    Total calculated
    $0
    Hours/week
    1

  • Tom O'Neill

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Erik Birkerts

    SECRETARY & CEO

    Total calculated
    $270,896
    From this org
    $266,380
    From related orgs
    $0
    Other
    $4,516
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $194,290
    Bonus
    $72,090
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $4,516
    Filer's total
    $270,896

  • Paul Seidler

    DIRECTOR OF VENTURE DEVELO

    Total calculated
    $248,566
    From this org
    $223,849
    From related orgs
    $0
    Other
    $24,717
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,849
    Bonus
    $50,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $24,717
    Filer's total
    $248,566

  • Ian Adams

    CHIEF OF STAFF

    Total calculated
    $199,201
    From this org
    $175,118
    From related orgs
    $0
    Other
    $24,083
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $157,118
    Bonus
    $18,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $24,083
    Filer's total
    $199,201

  • Mark Altman

    DIRECTOR OF DEVELOPMENT

    Total calculated
    $177,744
    From this org
    $153,984
    From related orgs
    $0
    Other
    $23,760
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,899
    Bonus
    $20,085
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $23,760
    Filer's total
    $177,744

  • Estelle Seals

    DIRECTOR OF OPERATIONS

    Total calculated
    $143,812
    From this org
    $122,687
    From related orgs
    $0
    Other
    $21,125
    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

Answered yes

  • 3 · Independent compensation consultant
  • 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

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.

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.

  • CLEAN ENERGY INNOVATION FUND LLC

    FOSTER INNOVATION & PROMOTE ECONOMICALLY DRIVEN ENVIRONMENTAL SUSTAINABILITY · IL · income $3,152,475 · assets $6,967,828

    Directly controlled by EVERGREEN CLIMATE INNOVATIONS

  • CLEAN ENERGY PRIZE FUND

    FOSTER INNOVATION & PROMOTE ECONOMICALLY DRIVEN ENVIRONMENTAL SUSTAINABILITY · IL · income $24,245 · assets $5,114,691

    Directly controlled by EVERGREEN CLIMATE INNOVATIONS

Provenance

Return type
form_990
Tax year
2022
Filed
7 November 2023
IRS schema version
2022v5.0
Source object
202343139349304499

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.