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Nonprofiteer
← MONTGOMERY COUNTY GREEN BANK CORP

Form 990 for tax year 2022

Filed by MONTGOMERY COUNTY GREEN BANK CORP.

Totals

Total revenue
$19,408,579
Total expenses
$2,560,274
Contributions and grants received
$473,302
Grants paid
$0
Program service revenue
$130,016
Investment income
$686,662
Other revenue
$18,118,599
Total assets, end of year
$41,091,048
Total liabilities, end of year
$6,632,508
Net assets or fund balances, end of year
$34,458,540
Program services expenses (Part IX)
$1,900,590
Management and general expenses
$621,055
Fundraising expenses
$38,629
Program service expenses (Part III)
$1,900,590

Program services were 74.2% 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

    $473,302

  • 2a · Program service revenue: PROGRAM REVENUE

    total $130,016 · related or exempt $130,016

  • 3 · Investment income

    total $686,662 · related or exempt $686,662

  • 11a · Other revenue: ENERGY TAX REVENUE

    total $18,118,599 · related or exempt $18,118,599

  • 11e · Other revenue, total

    $18,118,599

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,274,626 · program services $847,582 · management and general $404,064 · fundraising $22,980

  • 7 · Other salaries and wages

    total $143,616 · program services $95,502 · management and general $45,526 · fundraising $2,588

  • 8 · Pension plan contributions

    total $44,086 · program services $29,315 · management and general $13,976 · fundraising $795

  • 9 · Other employee benefits

    total $132,257 · program services $87,947 · management and general $41,926 · fundraising $2,384

  • 10 · Payroll taxes

    total $89,753 · program services $59,683 · management and general $28,452 · fundraising $1,618

  • 11b · Fees: legal

    total $18,206 · program services $12,798 · management and general $5,120 · fundraising $288

  • 11c · Fees: accounting

    total $74,727 · program services $52,529 · management and general $21,016 · fundraising $1,182

  • 11g · Fees: other

    total $36,305 · program services $25,521 · management and general $10,210 · fundraising $574

  • 12 · Advertising and promotion

    total $85,527 · program services $61,579 · management and general $19,671 · fundraising $4,277

  • 13 · Office expenses

    total $56,956 · program services $37,591 · management and general $18,226 · fundraising $1,139

  • 16 · Occupancy

    total $18,996 · program services $12,537 · management and general $6,079 · fundraising $380

  • 23 · Insurance

    total $21,216 · program services $14,003 · management and general $6,789 · fundraising $424

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $360,526 · program services $360,526

  • 24b · Other expenses: PRODUCT DEVELOPMENT

    total $203,477 · program services $203,477

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $20,312

  • 2 · Savings and temporary cash investments

    beginning of year $22,811,452 · end of year $31,368,833

  • 4 · Accounts receivable

    beginning of year $225,244 · end of year $2,727,389

  • 9 · Prepaid expenses and deferred charges

    beginning of year $21,838 · end of year $22,228

  • 12 · Investments: other securities

    beginning of year $1,048,148 · end of year $6,970,712

  • 15 · Other assets

    beginning of year $1,886 · end of year $1,886

  • 17 · Accounts payable and accrued expenses

    beginning of year $128,271 · end of year $242,134

  • 21 · Escrow or custodial account liability

    beginning of year $6,390,374 · end of year $6,390,374

  • 27 · Net assets without donor restrictions

    beginning of year $11,970,107 · end of year $27,093,964

  • 28 · Net assets with donor restrictions

    beginning of year $5,640,128 · end of year $7,364,576

Mission and programs · 2022

Mission

MONTGOMERY COUNTY GREEN BANK CORPORATION IS MAKING ENERGY EFFICIENCY AND CLEAN ENERGY ATTAINABLE FOR ALL IN OUR COMMUNITY AND CREATING A MORE SUSTAINABLE AND RESILIENT FUTURE.

  • THE MONTGOMERY COUNTY GREEN BANK IS A PUBLICLY-CHARTERED NONPROFIT DEDICATED TO ACCELERATING AFFORDABLE ENERGY EFFICIENCY AND CLEAN ENERGY INVESTMENT IN MONTGOMERY COUNTY, MD. WE PARTNER WITH THE PRIVATE SECTOR TO BUILD A MORE DIVERSE, EQUITABLE, AND INCLUSIVELY PROSPEROUS,RESILIENT, SUSTAINABLE, AND HEALTHY COMMUNITY. OUR WORK SUPPORTS MONTGOMERY COUNTY'S GOAL TO REDUCE ITS GREENHOUSE GAS EMISSIONS.

    Expenses $1,900,590

As filed on the 2022 return.

Listed in Part VII

  • Bonnie Norman

    CHAIR

    Total calculated
    $0
    Hours/week
    15

  • Marcene Mitchell

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    12

  • Bob Sahadi

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    12

  • Bert Hunter

    SECRETARY

    Total calculated
    $0
    Hours/week
    12

  • Michael Coveyou

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • Adrianna Hochberg

    EX-OFFICIO

    Total calculated
    $0
    Hours/week
    1

  • Stacy Swann

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Kyle Danish

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Brian Marconi

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Marissa Ramirez

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Zach Marks

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Stephen Morel

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $209,137
    From this org
    $197,827
    From related orgs
    $0
    Other
    $11,310
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $186,893
    Bonus
    $8,500
    Other
    $2,434
    Deferred
    $11,310
    Nontaxable benefits
    $0
    Filer's total
    $209,137

  • Thomas Deyo

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $215,997
    From this org
    $203,633
    From related orgs
    $0
    Other
    $12,364
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $203,261
    Bonus
    $0
    Other
    $372
    Deferred
    $12,364
    Nontaxable benefits
    $0
    Filer's total
    $215,997

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 · 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

The filer's explanations (Part III)

PART I, LINE 7
STEPHEN MOREL, CHIEF EXECUTIVE OFFICER, RECEIVED A BONUS OF $8,500 DURING THE YEAR ENDED JUNE 30, 2023.
PART I, LINE 3:
APPROVED IN ADVANCE BY APPROVAL BODY COMPOSED ENTIRELY OF INDIVIDUALS WHO DO NOT HAVE CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT. DATA DEMONSTRATING FAIR MARKET OF COMPENSATION IS USED, WHICH MAY INCLUDE EXPERT COMPENSATION STUDIES BY INDEPENDENT FIRMS, WRITTEN JOB OFFERS FOR POSITIONS AT SIMILAR ORGANIZATIONS, DOCUMENTED PHONE CALLS ABOUT SIMILAR POSITIONS AT OTHER ORGANIZATIONS, OR INFORMATION OBTAINED FROM IRS FORM 990 FILINGS OF SIMILAR ORGANIZATIONS. THE APPROVAL BODY CONCURRENTLY DOCUMENTS HOW IT REACHED ITS DECISIONS, INCLUDING DATA ON WHICH IT RELIED.

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.

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202313209349302211

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