Form 990 for tax year 2023

Totals

Total revenue

$837,821

Total expenses

$684,587

Contributions and grants received

$380,768

Grants paid

$191,634

Program service revenue

$456,106

Investment income

$922

Other revenue

$25

Total assets, end of year

$232,081

Total liabilities, end of year

$112,810

Net assets or fund balances, end of year

$119,271

Program services expenses (Part IX)

$576,065

Management and general expenses

$108,522

Fundraising expenses

$0

Program service expenses (Part III)

$576,065

Program services were 84.1% 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.

Mission and programs · 2023

• Established Energy Transition Program The Energy Transition Program is a community-driven effort to help our island achieve its renewable energy goals through direct engagement with residents, businesses, the Wampanoag Tribe of Gay Head (Aquinnah), municipalities, and environmental justice communities in the transition to a renewable energy future. The program confronts the climate crisis across five main areas of focus: renewable energy generation, strategic electrification, energy efficiency, resiliency, and equity. VPDF hired an Energy Transition Coordinator under this programmatic effort to support community outreach, engagement, education, technology, and partnership development. VPDF also established a network of Energy Coaches to support island residents in the transition to a renewable energy future through in-kind one-on-one educational consultations, and developed a new website that serves as a resource for residents and business to engage in the energy transition. Finally, VPDF applied successfully to become a Community First Partner (CFP) with Mass Save. VPDF, in its role as a CFP, anticipates that it will increase overall participation in Mass Save Energy Efficiency programs by increasing island-based capacity to perform Home Energy Assessments from 600 assessments/year to an estimated 1000+ assessments/year and increasing island-based capacity to conduct weatherization and HVAC work by recruiting local contractors. Successfully Assumed Responsibilities Under Community Benefits Agreements with Vineyard Wind and Park City Wind VPDF was assigned the responsibilities outlined in Community Benefits Agreements with Vineyard Wind 1 LLC and Park City Wind LLC to conduct education, outreach, and communication in support of offshore wind development in two offshore wind areas, under the conditions that the benefits of such projects remain in the island community. VPDF anticipates that our charitable work under the Community Benefits Agreements will result in over 50 year-round jobs in renewables to the island, secure approximately $50 million in infrastructure investments, and garner an estimated $22 million in direct investments for the island community to advance renewable energy development & education, resiliency technology, and equity initiatives on the island. Received Approval for Resiliency and Affordability Project Plans As a result of its Community Benefit Agreement with Vineyard Wind, VPDF is the managing entity responsible for the implementation of the Resiliency and Affordability Program (RAP) on Martha's Vineyard. The RAP is a $7.5 million commitment to the island over 15 years designed to increase renewable resiliency technology in the form of solar & battery storage projects at critical government, nonprofit, and tribal facilities, and to deliver electricity bill savings to the island's income eligible ratepayers. VPDF received approval for its Project Plans, which featured an effective and efficient mechanism to donate funds to income eligible ratepayers on Martha's Vineyard and outlined VPDF's approach to donate monies to towns for resiliency projects.

  Expenses $576,065 · Grants $191,634 · Revenue $456,106

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

Listed in Part VII

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.

Grants on this return

• Cape Light Compact

  $190,000

  Resilience and Affordability Program - To assist low-income ratepayers reduce energy costs.

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.

• Vineyard Power Cooperative

  501(c)(12) · Renewable Energy · MA

Provenance

Return type

form_990

Tax year

2023

Filed

13 May 2024

IRS schema version

2023v5.0

Source object

202401359349304800

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