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Nonprofiteer
← ILLINOIS SCIENCE AND ENERGY INNOVATION FOUNDATION

Form 990 for tax year 2023

Filed by ILLINOIS SCIENCE AND ENERGY INNOVATION FOUNDATION.

Totals

Total revenue
$1,360,960
Total expenses
$1,360,433
Contributions and grants received
$238,204
Grants paid
$248,872
Program service revenue
$0
Investment income
$707,606
Other revenue
$415,150
Total assets, end of year
$25,372,398
Total liabilities, end of year
$8,452
Net assets or fund balances, end of year
$25,363,946
Program services expenses (Part IX)
$1,308,352
Management and general expenses
$52,081
Fundraising expenses
$0
Program service expenses (Part III)
$1,308,352

Program services were 96.2% 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.

  • 1f · All other contributions, gifts and grants

    $238,204

  • 3 · Investment income

    total $702,003 · related or exempt $702,003

  • 7a · Gross sales of assets other than inventory

    other assets $17,936

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

    other assets $12,333

  • 7c · Gain or loss

    other assets $5,603

  • 7d · Net gain or loss

    total $5,603 · related or exempt $5,603

  • 11a · Other revenue: PTR/S CORP GROSS INCOME

    total $415,150 · related or exempt $415,150

  • 11e · Other revenue, total

    $415,150

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $248,872 · program services $248,872

  • 7 · Other salaries and wages

    total $606,597 · program services $576,267 · management and general $30,330

  • 9 · Other employee benefits

    total $83,649 · program services $79,467 · management and general $4,182

  • 10 · Payroll taxes

    total $47,753 · program services $45,365 · management and general $2,388

  • 11b · Fees: legal

    total $84,931 · program services $80,684 · management and general $4,247

  • 11c · Fees: accounting

    total $87,167 · program services $82,809 · management and general $4,358

  • 11g · Fees: other

    total $29,734 · program services $28,247 · management and general $1,487

  • 12 · Advertising and promotion

    total $11,036 · program services $11,036

  • 13 · Office expenses

    total $35,623 · program services $33,858 · management and general $1,765

  • 16 · Occupancy

    total $62,848 · program services $59,706 · management and general $3,142

  • 17 · Travel

    total $48,969 · program services $48,969

  • 22 · Depreciation, depletion and amortization

    total $5,672 · program services $5,636 · management and general $36

  • 23 · Insurance

    total $7,582 · program services $7,436 · management and general $146

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $616,253 · end of year $326,346

  • 2 · Savings and temporary cash investments

    beginning of year $980,988 · end of year $375,094

  • 7 · Other notes and loans receivable

    beginning of year $41,786 · end of year $35,184

  • 10c · Land, buildings and equipment, net

    beginning of year $18,006

  • 11 · Investments: publicly traded securities

    beginning of year $10,092,867 · end of year $9,748,043

  • 12 · Investments: other securities

    beginning of year $14,074,456 · end of year $14,887,731

  • 17 · Accounts payable and accrued expenses

    beginning of year $148,787 · end of year $8,452

  • 19 · Deferred revenue

    beginning of year $312,150

  • 27 · Net assets without donor restrictions

    beginning of year $25,363,419 · end of year $25,363,946

Mission and programs · 2023

Mission

TO SUPPORT SOCIAL WELFARE AND ECONOMIC DEVELOPMENT BY PROVIDING FINANCIAL AND TECHNICAL SUPPORT FOR ENERGY CONCEPTS AND TO PROVIDE CONSUMER EDUCATION REGARDING SMART METERS AND RELATED TECHNOLOGIES AND SERVICES.

  • PURSUANT TO CHAPTER 220, SECTION 5/16-180.7(D) OF THE PUBLIC UTILITIES ACT OF ILLINOIS COMPILED STATUTES, IN 2012 THE FOUNDATION RECEIVED INITIAL FUNDING FROM TWO ILLINOIS UTILITY CORPORATIONS. FURTHER, THE FOUNDATION RECEIVES VARIOUS ADDITIONAL GRANTS AND/OR DONATIONS TO SUPPORT PROGRAMS AND RELATED EXPENSES. THE FUNDS WERE AND WILL BE EXPENDED TO PROVIDE FINANCIAL AND TECHNICAL SUPPORT AND ASSISTANCE TO ENTITIES FOR PROGRAMS AND PROJECTS THAT SUPPORT, ENCOURAGE OR UTILIZE INNOVATIVE TECHNOLOGIES OR OTHER METHODS THAT WILL BENEFIT THE PUBLIC BY PROMOTING ECONOMIC DEVELOPMENT IN ILLINOIS.

    Expenses $1,053,844

  • PURSUANT TO CHAPTER 220, SECTION 5/16-180.6(F) OF THE PUBLIC UTILITIES ACT OF ILLINOIS COMPILED STATUTES, PROVIDES FOR FUNDING FROM THE TWO UTILITY CORPORATIONS OF 5,000,000 PER YEAR BEGINNING IN 2012 AND CONTINUING FOR TEN YEARS. THE FUNDS WILL BE USED TO PROVIDE CONSUMER EDUCATION REGARDING SMART METERS AND RELATED TECHNOLOGIES AND SERVICES.

    Expenses $248,872 · Grants $248,872

  • TO SUPPORT SOCIAL WELFARE AND ECONOMIC DEVELOPMENT BY PROVIDING FINANCIAL AND TECHNICAL SUPPORT FOR ENERGY CONCEPTS AND TO PROVIDE CONSUMER EDUCATION REGARDING SMART METERS AND RELATED TECHNOLOGIES AND SERVICES.

    Expenses $5,636

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

Listed in Part VII

  • Jason Blumberg

    EXECUTIVE DI

    Total calculated
    $218,783
    From this org
    $218,783
    From related orgs
    $0
    Other
    $0
    Hours/week
    49 + 1 related

    Schedule J breakdown matched by us

    Base
    $218,783
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $218,783

  • Megan Clifford

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Mark Laufenburg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.5 related

  • Brendan Reilly

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 0.25 related

  • Robert Greenlee

    SECRETARY

    Total calculated
    $0
    Hours/week
    3.5 + 0.5 related

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

None.

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

The filer's explanations (Part III)

SCHEDULE J, PART III
IN RELATION TO SECTION 4C, REPRESENTED IN BOX BII: ISIEF OFFERS KEY EMPLOYEES INCENTIVE BASED COMPENSATION IN THE FORM OF OPTIONS TO ACQUIRE FROM THE COMPANY INTERESTS IN EQUITY INVESTMENTS OF THE ORGANIZATION. THESE OPTIONS ARE MADE PURSUANT TO AN INCENTIVE COMPENSATION PLAN APPROVED ANNUALLY BY THE BOARD OF DIRECTORS AND THE PRESENT FAIR MARKET VALUE OF SUCH OPTIONS ARE REPORTED AS COMPENSATION.

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

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.

  • ENERGY FOUNDRY INTELLIGENCE LLC

    IL

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.0
Source object
202413379349300936

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