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Nonprofiteer
← SUSTAINABLE ENERGY UTILITY INC

Form 990 for tax year 2024

Filed by SUSTAINABLE ENERGY UTILITY INC.

Totals

Total revenue
$48,748,802
Total expenses
$35,292,334
Contributions and grants received
$39,712,351
Grants paid
$5,680,894
Program service revenue
$5,734,353
Investment income
$3,296,664
Other revenue
$5,434
Total assets, end of year
$162,588,182
Total liabilities, end of year
$54,489,278
Net assets or fund balances, end of year
$108,098,904
Program services expenses (Part IX)
$33,574,483
Management and general expenses
$1,717,851
Fundraising expenses
$0
Program service expenses (Part III)
$33,574,483

Program services were 95.1% 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.

  • 1e · Government grants (contributions)

    $39,712,351

  • 2a · Program service revenue: PROGRAM SERVICE REVENUE

    total $5,734,353 · related or exempt $5,734,353

  • 3 · Investment income

    total $3,296,664 · related or exempt $3,296,664

  • 11a · Other revenue: LOAN LATE FEES

    total $5,434 · excluded $5,434

  • 11e · Other revenue, total

    $5,434

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $5,680,894 · program services $5,680,894

  • 7 · Other salaries and wages

    total $628,167 · management and general $628,167

  • 8 · Pension plan contributions

    total $38,691 · management and general $38,691

  • 9 · Other employee benefits

    total $60,260 · management and general $60,260

  • 10 · Payroll taxes

    total $44,388 · management and general $44,388

  • 11a · Fees: management

    total $528,012 · management and general $528,012

  • 11b · Fees: legal

    total $178,212 · management and general $178,212

  • 11c · Fees: accounting

    total $88,415 · management and general $88,415

  • 11f · Fees: investment management

    total $44,922 · program services $14,375 · management and general $30,547

  • 11g · Fees: other

    total $15,061,949 · program services $15,061,949

  • 12 · Advertising and promotion

    total $92,038 · program services $85,013 · management and general $7,025

  • 13 · Office expenses

    total $22,161 · management and general $22,161

  • 16 · Occupancy

    total $73,056 · management and general $73,056

  • 17 · Travel

    total $6,760 · program services $6,760

  • 20 · Interest

    total $1,427,276 · program services $1,427,276

  • 22 · Depreciation, depletion and amortization

    total $26,220 · program services $26,220

  • 23 · Insurance

    total $18,917 · management and general $18,917

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $10,963,304 · program services $10,963,304

  • 24b · Other expenses: SREC SALE EXPENSES

    total $185,202 · program services $185,202

  • 24c · Other expenses: BANK CHARGES

    total $84,093 · program services $84,093

  • 24d · Other expenses: COMPUTER SERVICES

    total $38,202 · program services $38,202

  • 24e · All other expenses

    total $1,195 · program services $1,195

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,470,014 · end of year $3,777,836

  • 2 · Savings and temporary cash investments

    beginning of year $47,318,784 · end of year $60,370,797

  • 3 · Pledges and grants receivable

    beginning of year $62,255,772 · end of year $58,133,448

  • 7 · Other notes and loans receivable

    beginning of year $40,489,575 · end of year $39,323,171

  • 9 · Prepaid expenses and deferred charges

    beginning of year $523,865 · end of year $92,306

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

    $163,114

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

    $91,047

  • 10c · Land, buildings and equipment, net

    beginning of year $92,051 · end of year $72,067

  • 15 · Other assets

    beginning of year $813,152 · end of year $818,557

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,273,593 · end of year $1,660,262

  • 19 · Deferred revenue

    beginning of year $381,550 · end of year $389,501

  • 20 · Tax-exempt bond liabilities

    beginning of year $55,815,000 · end of year $51,690,000

  • 24 · Unsecured notes and loans payable

    beginning of year $852,279 · end of year $747,267

  • 25 · Other liabilities

    beginning of year $60 · end of year $2,248

  • 27 · Net assets without donor restrictions

    beginning of year $94,527,331 · end of year $107,985,504

  • 28 · Net assets with donor restrictions

    beginning of year $113,400 · end of year $113,400

Mission and programs · 2024

Mission

TO SERVE THE SUSTAINABLE ENERGY NEEDS OF ALL DELAWARE ENERGY CONSUMERS USING ALL FUELS.

  • TO OFFER RENEWABLE AND ENERGY-EFFICIENT PROGRAMS THAT HELP DELAWAREANS REDUCE THEIR CARBON FOOTPRINT.

    Expenses $33,574,483 · Grants $5,680,894 · Revenue $5,734,353

  • TO SERVE THE SUSTAINABLE ENERGY NEEDS OF ALL DELAWARE ENERGY CONSUMERS

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

Listed in Part VII

  • Senator Harris B McDowell III

    CO-FOUNDER/M

    Total calculated
    $0

  • Kristopher E Knight

    TREASURER/SE

    Total calculated
    $0

  • Michael J Chajes PhD

    BOARD MEMBER

    Total calculated
    $0

  • W Charles Paradee III

    BOARD MEMBER

    Total calculated
    $0

  • Sean Finnigan

    CHAIRMAN

    Total calculated
    $0

  • Stephanie L Hansen

    BOARD MEMBER

    Total calculated
    $0

  • Richard I G Jones Jr

    BOARD MEMBER

    Total calculated
    $0

  • Ric Moore

    BOARD MEMBER

    Total calculated
    $0

  • Drew Slater

    EXECUTIVE DI

    Total calculated
    $135,000
    From this org
    $135,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Jameson Tweedie

    BOARD MEMBER

    Total calculated
    $0

  • Greg Patterson

    BOARD MEMBER

    Total calculated
    $0

  • Suzanne Sebastian

    EMPLOYEE

    Total calculated
    $110,711
    From this org
    $110,711
    From related orgs
    $0
    Other
    $0
    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.

Grants on this return

  • DELAWARE STATE HOUSING AUTHORITY

    $1,500,000

  • NEW ECOLOGY INC

    $685,721

  • OFFICE OF MANAGMENT & BUDGET

    $450,000

  • LEWES PUBLIC LIBRARY

    $240,945

  • RED CLAY CONSOILDATED SCHOOL DISTRI

    $235,000

  • SUSTAINABLE REAL ESTATE SOLUTIONS

    $232,732

  • CITY OF MILFORD

    $213,440

  • ATLANTIC EMERGENCY SOLUTIONS

    $209,231

  • ENSAVE INC

    $175,974

  • APPLIED ENERGY GROUP

    $171,758

The 10 largest by cash amount. The API serves every itemized grant.

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.

  • STATE OF DELAWARE

    STATE GOV · DE

Provenance

Return type
form_990
Tax year
2024
Filed
13 December 2025
IRS schema version
2024v5.0
Source object
202523579349300907

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

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