Form 990 for tax year 2024

Filed by EVERGREEN CLIMATE INNOVATIONS.

Totals

Total revenue: $3,672,788
Total expenses: $3,168,634
Contributions and grants received: $3,500,104
Grants paid: $115,000
Program service revenue: $232,997
Investment income: -$60,313
Other revenue: $0
Total assets, end of year: $19,236,717
Total liabilities, end of year: $3,540,126
Net assets or fund balances, end of year: $15,696,591
Program services expenses (Part IX): $2,483,695
Management and general expenses: $225,020
Fundraising expenses: $459,919
Program service expenses (Part III): $2,483,695

Program services were 78.4% 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.

1b · Membership dues

$37,506
1e · Government grants (contributions)

$638,593
1f · All other contributions, gifts and grants

$2,824,005
2a · Program service revenue: CLEAN ENERGY ENTREPRENEUR COACHIN

total $160,511 · related or exempt $160,511
2b · Program service revenue: EVENTS

total $54,367 · related or exempt $54,367
2c · Program service revenue: SPONSORSHIP REVENUE

total $18,119 · related or exempt $18,119
3 · Investment income

total $125,220 · excluded $125,220
7b · Less cost or other basis and sales expenses

securities $185,533
7c · Gain or loss

securities -$185,533
7d · Net gain or loss

total -$185,533 · excluded -$185,533

Functional expenses

Part IX, the statement of functional expenses.

1 · Grants to domestic organizations and governments

total $115,000 · program services $115,000
5 · Compensation of officers, directors and key employees

total $982,511 · program services $732,463 · management and general $85,436 · fundraising $164,612
7 · Other salaries and wages

total $804,121 · program services $587,176 · management and general $82,150 · fundraising $134,795
8 · Pension plan contributions

total $25,834 · program services $21,677 · fundraising $4,157
9 · Other employee benefits

total $136,662 · program services $113,170 · management and general $636 · fundraising $22,856
10 · Payroll taxes

total $104,313 · program services $76,356 · management and general $10,501 · fundraising $17,456
11b · Fees: legal

total $2,078 · program services $1,753 · fundraising $325
11c · Fees: accounting

total $79,553 · program services $67,128 · fundraising $12,425
11g · Fees: other

total $46,740 · program services $39,440 · fundraising $7,300
12 · Advertising and promotion

total $112,286 · program services $88,722 · management and general $7,248 · fundraising $16,316
13 · Office expenses

total $53,494 · program services $39,437 · management and general $5,095 · fundraising $8,962
16 · Occupancy

total $238,691 · program services $175,964 · management and general $22,785 · fundraising $39,942
17 · Travel

total $16,827 · program services $7,987 · management and general $4,677 · fundraising $4,163
19 · Conferences, conventions and meetings

total $79,342 · program services $62,909 · management and general $646 · fundraising $15,787
20 · Interest

total $65,561 · program services $62,830 · management and general $2,731
22 · Depreciation, depletion and amortization

total $27,902 · program services $20,569 · management and general $2,664 · fundraising $4,669
23 · Insurance

total $4,726 · program services $3,485 · management and general $451 · fundraising $790
24a · Other expenses: DIRECT COST OF EVENTS

total $243,370 · program services $243,370
24e · All other expenses

total $29,623 · program services $24,259 · fundraising $5,364

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $1,489,476 · end of year $1,540,373
2 · Savings and temporary cash investments

beginning of year $525 · end of year $0
3 · Pledges and grants receivable

beginning of year $1,379,427 · end of year $866,650
7 · Other notes and loans receivable

beginning of year $1,603,546 · end of year $994,839
9 · Prepaid expenses and deferred charges

beginning of year $29,668 · end of year $33,012
10a · Land, buildings and equipment: cost or other basis

$58,460
10b · Land, buildings and equipment: accumulated depreciation

$52,764
10c · Land, buildings and equipment, net

beginning of year $7,074 · end of year $5,696
13 · Investments: program-related

beginning of year $10,538,945 · end of year $15,424,793
14 · Intangible assets

beginning of year $27,813 · end of year $3,403
15 · Other assets

beginning of year $300,931 · end of year $367,951
17 · Accounts payable and accrued expenses

beginning of year $182,475 · end of year $89,117
19 · Deferred revenue

end of year $258,316
23 · Secured mortgages and notes payable

beginning of year $3,141,664 · end of year $3,132,693
24 · Unsecured notes and loans payable

end of year $60,000
27 · Net assets without donor restrictions

beginning of year $10,171,513 · end of year $15,457,847
28 · Net assets with donor restrictions

beginning of year $1,881,753 · end of year $238,744

Mission and programs · 2024

Mission

EVERGREEN ADVANCES CLIMATE TECH IN THE GREATER MIDWEST.WE SUPPORT STARTUPS BRINGING IMPACTFUL CLIMATE TECHNOLOGIES TO MARKET. WE MAKE SEED INVESTMENTS AND PROVIDE HANDS-ON SUPPORT TO ENTREPRENEURS. WE EXPAND ACCESS TO INNOVATION BY CULTIVATING AN ECOSYSTEM OF INVESTORS, CORPORATE PARTNERS, DONORS, AND COLLABORATORS.

Activities or mission (Part I)

WE DEPLOY PATIENT CAPITAL FOR A WORLD THAT CAN'T AFFORD TO WAIT. WE CULTIVATE EARLY POTENTIAL: INVESTING WHERE OTHERS SEE RISK, WE TURN POSSIBILITY INTO REALITY. WE CONNECT THE CLIMATE ECOSYSTEM: BRINGING TOGETHER INNOVATORS, INVESTORS, AND INSTITUTIONS, WE HARNESS THE MIDWEST'S POTENTIAL. WE CATALYZE OUTSIZED IMPACT: INVESTING WITH AGILITY AND EFFICIENCY, WE UNCOVER THE CLIMATE SOLUTIONS THAT WILL CHANGE THE WORLD.

THE 501VC INVESTMENT PROGRAM IS THE MECHANISM THROUGH WHICH EVERGREEN PROVIDES CATALYTIC CAPITAL AND SUPPORT TO EARLY-STAGE ENTREPRENEURS. THERE ARE THREE COMPONENTS TO THE INVESTMENT PROGRAM: FIND, FUND, AND GROW. "FIND" REPRESENTS THE EFFORT EVERGREEN UNDERTAKES TO IDENTIFY AND RECRUIT HIGH-POTENTIAL ENTREPRENEURS INTO ITS PROGRAMMING. "FUND" REFERS TO THE INVESTMENTS EVERGREEN MAKES IN THE PROMISING STARTUPS FOUNDED BY THESE ENTREPRENEURS. "GROW" DESCRIBES THE ONGOING ENGAGEMENT AND PROGRAMMING EVERGREEN PROVIDES STARTUPS AND ENTREPRENEURS THAT ARE PART OF ITS PORTFOLIO. THIS SUPPORT ENCOMPASSES EDUCATIONAL CONTENT, MENTORING, BUSINESS DEVELOPMENT ASSISTANCE, AND FUNDRAISING SUPPORT.

Expenses $1,616,167 · Grants $115,000 · Revenue $232,997
WITH SUPPORT FROM FOUNDATION GRANTS, EVERGREEN LEADS A CLEAN ENERGY EMPLOYMENT TRENDS STUDY ENCOMPASSING A REGION COVERING 12 MIDWEST STATES. THE DATA IS USED TO ILLUSTRATE THE GROWTH AND CONTRIBUTION OF THIS SECTOR TO ECONOMIC DEVELOPMENT AND IS A VALUABLE RESOURCE TO POLICYMAKERS AND LEGISLATORS. THE CLEAN JOBS MIDWEST REPORT IS A COMPONENT OF A LARGER NATIONAL STUDY CONDUCTED BY A CONSORTIUM OF PARTNERS, ENCOMPASSING ALL 50-STATES AND THE DISTRICT OF COLUMBIA.

Expenses $558,934
EVERGREEN RECEIVED A GRANT FROM THE U.S. ECONOMIC DEVELOPMENT ADMINISTRATION TO LAUNCH ENTREPRENEURIAL SUPPORT PROGRAMS. CORE IS THE STRUCTURED FUNDRAISING PROGRAM DESIGNED TO CATALYZE ADDITIONAL INVESTMENT FROM INSTITUTIONAL INVESTORS IN A SECTOR AND REGION WHERE RAISING CAPITAL IS EXTREMELY CHALLENGING. WORKING WITH INDIVIDUAL STARTUPS, EVERGREEN HELPS THESE COMPANIES SUCCESSFULLY EXECUTE FUNDRAISING BY ASSESSING INVESTMENT READINESS, HELPING PREPARE FINANCIAL MODELS AND PRESENTATION MATERIALS, SUPPORTING OUTREACH TO FUNDERS, SUPPORTING DUE DILIGENCE REQUESTS FROM POTENTIAL INVESTORS, AND ADVISING ON DEAL TERM NEGOTIATION. THESE ARE TIME CONSUMING ACTIVITIES AND EVERGREEN'S ENGAGEMENT NOT ONLY ENSURES GREATER SUCCESS BUT ALSO FREES TIME FOR THE ENTREPRENEURS TO FOCUS ON THEIR CORE BUSINESSES.

Expenses $212,285
EVERGREEN RECEIVED A GRANT FROM THE US DEPARTMENT OF ENERGY, ENERGY PROGRAM FOR INNOVATION CLUSTERS(EPIC). THIS PROGRAM HELPS GROW THE MIDWEST ENERGY INNOVATION ECOSYSTEM AND ADVANCED MANUFACTURING ECOSYSTEM. THE INITIATIVES ENABLES BOTH THE DELIVERY OF ACCESSIBLE EDUCATION AND TRAINING RESOURCES, AS WELL AS A COMPREHENSIVE ACCELERATOR PROGRAM FOR ENERGY HARDWARE STARTUPS IN THE MIDWEST AND BEYOND.

Expenses $96,309

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

Listed in Part VII

Amy FranceticAMY FRANCETIC

BOARD CHAIRWOMAN / FORMER CEO

Total calculated

$0

Hours/week

1
Karen KerrKAREN KERR

TREASURER

Total calculated

$0

Hours/week

1
Tim StojkaTIM STOJKA

DEVELOPMENT CHAIR

Total calculated

$0

Hours/week

1
Sanjeev KrishnanSANJEEV KRISHNAN

BOARD MEMBER

Total calculated

$0

Hours/week

1
Colleen CalhounCOLLEEN CALHOUN

BOARD MEMBER

Total calculated

$0

Hours/week

1
Thomas O'NeillTHOMAS O'NEILL

BOARD MEMBER

Total calculated

$0

Hours/week

1
Maggie PakulaMAGGIE PAKULA

BOARD MEMBER

Total calculated

$0

Hours/week

1
Jeffrey YinglingJEFFREY YINGLING

BOARD MEMBER

Total calculated

$0

Hours/week

1
Dr Cheryl MartinDR CHERYL MARTIN

BOARD MEMBER

Total calculated

$0

Hours/week

1
Andrew SchwertfegerANDREW SCHWERTFEGER

BOARD MEMBER

Total calculated

$0

Hours/week

1
Rachel StarRACHEL STAR

BOARD MEMBER

Total calculated

$0

Hours/week

1
Kishore RaoKISHORE RAO

BOARD MEMBER

Total calculated

$0

Hours/week

1
Noelle LaingNOELLE LAING

BOARD MEMBER

Total calculated

$0

Hours/week

1
Michelle CarrMICHELLE CARR

CEO

Total calculated

$384,481

From this org

$357,500

From related orgs

$0

Other

$26,981

Hours/week

40

Schedule J breakdown matched by us

Base

$275,000

Bonus

$82,500

Other

$0

Deferred

$5,250

Nontaxable benefits

$21,731

Filer's total

$384,481
Paul SeidlerPAUL SEIDLER

MANAGING PARTNER

Total calculated

$314,027

From this org

$285,990

From related orgs

$0

Other

$28,037

Hours/week

40

Schedule J breakdown matched by us

Base

$240,799

Bonus

$45,191

Other

$0

Deferred

$6,306

Nontaxable benefits

$21,731

Filer's total

$314,027
Ian AdamsIAN ADAMS

MANAGING PARTNER

Total calculated

$284,003

From this org

$256,434

From related orgs

$0

Other

$27,569

Hours/week

40

Schedule J breakdown matched by us

Base

$222,960

Bonus

$33,474

Other

$0

Deferred

$5,838

Nontaxable benefits

$21,731

Filer's total

$284,003
Shashank ChurukantiSHASHANK CHURUKANTI

SENIOR ANALYST

Total calculated

$216,726

From this org

$190,128

From related orgs

$0

Other

$26,598

Hours/week

40

Schedule J breakdown matched by us

Base

$162,225

Bonus

$27,903

Other

$0

Deferred

$4,867

Nontaxable benefits

$21,731

Filer's total

$216,726
Marc AltmanMARC ALTMAN

DIRECTOR OF DEVELOPMENT

Total calculated

$206,353

From this org

$179,843

From related orgs

$0

Other

$26,510

Hours/week

40

Schedule J breakdown matched by us

Base

$159,294

Bonus

$20,549

Other

$0

Deferred

$4,779

Nontaxable benefits

$21,731

Filer's total

$206,353
Estelle M RichardsESTELLE M RICHARDS

DIRECTOR OF OPERATIONS

Total calculated

$166,124

From this org

$150,874

From related orgs

$0

Other

$15,250

Hours/week

40

Schedule J breakdown matched by us

Base

$140,339

Bonus

$10,535

Other

$0

Deferred

$0

Nontaxable benefits

$15,250

Filer's total

$166,124
Dylan J O'ReillyDYLAN J O'REILLY

SENIOR PROGRAM MANAGER

Total calculated

$130,458

From this org

$119,576

From related orgs

$0

Other

$10,882

Hours/week

40
Rachel L SebaldRACHEL L SEBALD

DIRECTOR OF MARKETING & COMMUNICATIONS

Total calculated

$114,064

From this org

$106,439

From related orgs

$0

Other

$7,625

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. 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 · Independent compensation consultant
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: BONUSES ARE NOT GUARANTEED AND ARE GIVEN ANNUALLY AND APPROVED BY THE BOARD OF DIRECTORS.

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

CALECTRA INC

$30,000

DEI PROGRAM GRANT
KIT SWITCH

$30,000

DEI PROGRAM GRANT
NATURAL SCIENCE LLC

$25,000

DEI PROGRAM GRANT
SENSATEK PROPULSION TECHNOLOGY INC

$10,000

DEI PROGRAM GRANT
GOOD FIBES

$10,000

DEI PROGRAM GRANT
EARNEST AGRICULTURE INC

$10,000

DEI PROGRAM GRANT

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.

ILLINOIS CLEAN ENERGY INNOVATION FUND LLC

FOSTER INNOVATION & PROMOTE ECONOMICALLY DRIVEN ENVIRONMENTAL SUSTAINABILITY · IL · income $715,353 · assets $6,886,050

Directly controlled by EVERGREEN CLIMATE INNOVATIONS
CLEAN ENERGY PRIZE FUND

FOSTER INNOVATION & PROMOTE ECONOMICALLY DRIVEN ENVIRONMENTAL SUSTAINABILITY · IL · income $2,424,624 · assets $7,352,644

Directly controlled by EVERGREEN CLIMATE INNOVATIONS

Provenance

Return type: form_990
Tax year: 2024
Filed: 14 November 2025
IRS schema version: 2024v5.2
Source object: 202503199349300745

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

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