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Nonprofiteer
← AMERICAN COUNCIL ON RENEWABLE ENERGY-ACORE

Form 990 for tax year 2024

Filed by AMERICAN COUNCIL ON RENEWABLE ENERGY-ACORE.

Totals

Total revenue
$9,245,250
Total expenses
$9,307,245
Contributions and grants received
$7,008,881
Grants paid
$910,000
Program service revenue
$2,161,279
Investment income
$75,090
Other revenue
$0
Total assets, end of year
$5,086,826
Total liabilities, end of year
$4,255,707
Net assets or fund balances, end of year
$831,119
Program services expenses (Part IX)
$6,712,772
Management and general expenses
$2,422,780
Fundraising expenses
$171,693
Program service expenses (Part III)
$6,712,772

Program services were 72.1% 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

    $7,008,881

  • 2a · Program service revenue: Membership Dues

    total $1,318,435 · related or exempt $1,318,435

  • 2b · Program service revenue: Conferences

    total $842,844 · related or exempt $842,844

  • 3 · Investment income

    total $75,090 · excluded $75,090

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $910,000 · program services $910,000

  • 5 · Compensation of officers, directors and key employees

    total $961,771 · program services $554,588 · management and general $383,078 · fundraising $24,105

  • 7 · Other salaries and wages

    total $3,188,547 · program services $1,838,624 · management and general $1,270,013 · fundraising $79,910

  • 8 · Pension plan contributions

    total $156,127 · program services $90,028 · management and general $62,186 · fundraising $3,913

  • 9 · Other employee benefits

    total $543,629 · program services $313,475 · management and general $216,530 · fundraising $13,624

  • 10 · Payroll taxes

    total $254,747 · program services $146,896 · management and general $101,467 · fundraising $6,384

  • 11c · Fees: accounting

    total $45,960 · management and general $45,960

  • 11g · Fees: other

    total $1,508,230 · program services $1,344,014 · management and general $164,216

  • 13 · Office expenses

    total $80,550 · program services $64,440 · management and general $8,055 · fundraising $8,055

  • 14 · Information technology

    total $107,570 · program services $86,056 · management and general $10,757 · fundraising $10,757

  • 16 · Occupancy

    total $242,572 · program services $194,058 · management and general $24,257 · fundraising $24,257

  • 17 · Travel

    total $86,438 · program services $69,150 · management and general $17,288

  • 19 · Conferences, conventions and meetings

    total $941,073 · program services $860,666 · management and general $80,407

  • 20 · Interest

    total $2,998 · program services $2,398 · management and general $300 · fundraising $300

  • 22 · Depreciation, depletion and amortization

    total $48,912 · program services $36,684 · management and general $12,228

  • 24a · Other expenses: Dues and Subscriptions

    total $220,460 · program services $195,203 · management and general $25,257

  • 24b · Other expenses: Postage and Delivery

    total $4,648 · program services $3,950 · management and general $349 · fundraising $349

  • 24c · Other expenses: Bank Charges

    total $2,621 · program services $2,228 · management and general $393

  • 24d · Other expenses: Equipment and Maintenan

    total $392 · program services $314 · management and general $39 · fundraising $39

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,898 · end of year $160,743

  • 2 · Savings and temporary cash investments

    beginning of year $3,005,726 · end of year $3,109,515

  • 3 · Pledges and grants receivable

    beginning of year $839,600 · end of year $829,000

  • 4 · Accounts receivable

    beginning of year $175,000

  • 9 · Prepaid expenses and deferred charges

    beginning of year $174,455 · end of year $271,686

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

    $223,463

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

    $163,665

  • 10c · Land, buildings and equipment, net

    beginning of year $84,463 · end of year $59,798

  • 15 · Other assets

    beginning of year $913,784 · end of year $656,084

  • 17 · Accounts payable and accrued expenses

    beginning of year $311,915 · end of year $579,552

  • 18 · Grants payable

    beginning of year $1,633,000 · end of year $193,000

  • 19 · Deferred revenue

    beginning of year $1,528,479 · end of year $2,706,954

  • 23 · Secured mortgages and notes payable

    beginning of year $38,357 · end of year $7,661

  • 25 · Other liabilities

    beginning of year $985,061 · end of year $768,540

  • 27 · Net assets without donor restrictions

    beginning of year -$1,212,672 · end of year -$382,777

  • 28 · Net assets with donor restrictions

    beginning of year $1,930,786 · end of year $1,213,896

Mission and programs · 2024

Mission

The American Council on Renewable Energy (ACORE) is a 501 (c)(3) national nonprofit organization that unites finance, policy and technology to accelerate the transition to a renewable energy economy.

Activities or mission (Part I)

To unite business, policy and finance to accelerate the transition to a renewable energy economy.

  • ACORE deploys three major programs to drive its overall mission. 1. FinanceACORE supports the rapid scaling of clean energy investments through its work in project finance and ESG by engaging existing investors and directing new entrants to the clean energy sector.2. PolicyACORE works with Congress, the Administration, federal agencies, state governments, and U.S. power markets to promote and defend policies that accelerate the transition to a clean energy economy.3. TechnologyACORE is at the forefront of fostering the innovation, development, and integration of clean energy, grid technologies, and expanded transmission.

    Expenses $4,802,420 · Grants $910,000

  • ACORE produces a mixture of in-person and virtual events annually to connect attendees with up-to-the-minute insights on the policies, financial trends, and grid issues most pertinent to the clean energy sector. ACORE's 2024 signature events included the ACORE Policy Forum and Awards Gala in Washington, D.C., the ACORE Finance Forum in New York City, and the ACORE Grid Forum in Arlington, Virginia.

    Expenses $1,910,352 · Revenue $2,161,279

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

Listed in Part VII

  • Raymond Long

    Incoming President & CEO

    Total calculated
    $710,517
    From this org
    $675,000
    From related orgs
    $0
    Other
    $35,517
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $600,000
    Bonus
    $75,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $35,517
    Filer's total
    $710,517

  • Kevin Gresham

    Board Chair

    Total calculated
    $0
    Hours/week
    2

  • Shannon Kellogg

    Secretary

    Total calculated
    $0
    Hours/week
    2

  • Patrick Reiten

    Treasurer

    Total calculated
    $0
    Hours/week
    2

  • Vikas Agrawal

    Director

    Total calculated
    $0
    Hours/week
    2

  • Laura Beane

    Director

    Total calculated
    $0
    Hours/week
    2

  • Mit Buchanan

    Director

    Total calculated
    $0
    Hours/week
    2

  • William Conkling

    Director

    Total calculated
    $0
    Hours/week
    2

  • Mona Dajani

    Director

    Total calculated
    $0
    Hours/week
    2

  • William Demas

    Director

    Total calculated
    $0
    Hours/week
    2

  • David Giordano

    Director

    Total calculated
    $0
    Hours/week
    2

  • Kristal Hansley

    Director

    Total calculated
    $0
    Hours/week
    2

  • Ja Kao

    Director

    Total calculated
    $0
    Hours/week
    2

  • Vishal Kapadia

    Director

    Total calculated
    $0
    Hours/week
    2

  • Phil Musser

    Director

    Total calculated
    $0
    Hours/week
    2

  • Urvi Parekh

    Director

    Total calculated
    $0
    Hours/week
    2

  • Gaurav Raniwala

    Director

    Total calculated
    $0
    Hours/week
    2

  • Himanshu Saxena

    Director

    Total calculated
    $0
    Hours/week
    2

  • Meghan Schultz

    Director

    Total calculated
    $0
    Hours/week
    2

  • Raymond Wood

    Director

    Total calculated
    $0
    Hours/week
    2

  • Puneet Verma

    Director

    Total calculated
    $0
    Hours/week
    2

  • Christian Warren

    Director

    Total calculated
    $0
    Hours/week
    2

  • Robin Millican

    Director

    Total calculated
    $0
    Hours/week
    2

  • Jordan Newman

    Director

    Total calculated
    $0
    Hours/week
    2

  • Sandhya Ganapathy

    Director

    Total calculated
    $0
    Hours/week
    2

  • James Giamarino

    Director

    Total calculated
    $0
    Hours/week
    2

  • Adam Altenhofen

    Director

    Total calculated
    $0
    Hours/week
    2

  • Gerald Borenstein

    Chief Financial Officer

    Total calculated
    $251,252
    From this org
    $226,939
    From related orgs
    $0
    Other
    $24,313
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $226,939
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $24,313
    Filer's total
    $251,252

  • Colleen Pickford

    EVP Corporate Engagement

    Total calculated
    $263,217
    From this org
    $227,700
    From related orgs
    $0
    Other
    $35,517
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $227,700
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $35,517
    Filer's total
    $263,217

  • Lesley Hunter

    SVP Policy & Engagement

    Total calculated
    $238,804
    From this org
    $203,305
    From related orgs
    $0
    Other
    $35,499
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,305
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $35,499
    Filer's total
    $238,804

  • Alexandra Hobson

    SVP Communications

    Total calculated
    $238,775
    From this org
    $208,501
    From related orgs
    $0
    Other
    $30,274
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $208,501
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $30,274
    Filer's total
    $238,775

  • Kevin ORourke

    SVP Development & Public A

    Total calculated
    $238,064
    From this org
    $225,869
    From related orgs
    $0
    Other
    $12,195
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,869
    Bonus
    $20,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $12,195
    Filer's total
    $238,064

  • Constance Thompson

    SVP ACORE Accelerate

    Total calculated
    $192,202
    From this org
    $180,090
    From related orgs
    $0
    Other
    $12,112
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $180,090
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $12,112
    Filer's total
    $192,202

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 · 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

The filer's explanations (Part III)

Part I, Line 7
The organization provided bonus compensation to both the outgoing president & CEO and incoming president & CEO

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

Provenance

Return type
form_990
Tax year
2024
Filed
3 November 2025
IRS schema version
2024v5.2
Source object
202513079349302631

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

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