2019-11-13T13:03:35-06:00 2018-12-31 030225774 GALLAGHER FLYNN & COMPANY LLP 55 COMMUNITY DRIVE SUITE 401 SOUTH BURLINGTON VT 05403 990 2018-01-01 030304418 VERMONT ENERGY INVESTMENT CORPORATION VERM 8006396069 128 LAKESIDE AVENUE NO 401 BURLINGTON VT 054014894 SCOTT COMEAU CFO 8006396069 2019-11-11 1 STEPHEN P TRENHOLM CPA P00460558 8028631331 2019-11-11 50.195.15.36 2019-11-11 11:28:26 ES P EB8F6A28B0370BA37570C5B41D0D8C17CE793587 E92608B5359A74535CCF3E3FAB804A4942986F47 2018 2020-04-17 16:48:07Z SCOTT COMEAU 128 LAKESIDE AVENUE NO 401 BURLINGTON VT 054014894 87429577 0 X WWW.VEIC.ORG X 1986 VT VEIC'S MISSION IS TO REDUCE THE COSTS, BOTH ECONOMIC AND ENVIRONMENTAL, OF ENERGY USE. 11 11 310 0 0 9882 0 0 95606270 87335778 26547 93799 15283 0 95648100 87429577 0 0 0 0 33594690 32757313 0 0 0 59124678 52643098 92719368 85400411 2928732 2029166 23577182 22684853 12832037 9910542 10745145 12774311 X VERMONT ENERGY INVESTMENT CORPORATION'S (VEIC) PROVIDES NATIONAL AND INTERNATIONAL ENERGY EFFICIENCY AND RENEWABLE ENERGY CONSULTING TO ELECTRIC AND GAS UTILITIES, GOVERNMENTS, FOUNDATIONS AND BUSINESSES. VEIC OFFERS EXPERTISE IN PLANNING, DESIGN AND IMPLEMENTATION.VEIC'S WORK INCLUDES ANALYZING AND ADVISING ON OTHER ENERGY EFFICIENCY PROGRAMS, HELPING COMMERCIAL AND INDUSTRIAL BUSINESSES BETTER UNDERSTAND AND MANAGE THEIR ENERGY USE, DEVELOPING AND MAINTAINING TECHNICAL REFERENCE MANUALS, DESIGNING AND DELIVERING HOME ENERGY ASSESSMENT PILOTS, AND SHIFTING PUBLIC TRANSPORTATION TO ELECTRIC VEHICLES. 0 0 56786658 58842409 EFFICIENCY VERMONT PROVIDES VERMONTERS WITH OBJECTIVE GUIDANCE AND INCENTIVES TO IMPROVE THE AFFORDABILITY AND COMFORT OF THEIR HOMES, BUSINESSES, INSTITUTIONS, AND COMMUNITIES THROUGH ENERGY EFFICIENCY. IN 2018 EFFICIENCY VERMONT WORKED WITH MORE THAN 109,000 VERMONTERS, WHO WILL SAVE $220.7 MILLION OVER THE LIFETIME OF THEIR 2018 INVESTMENTS IN EFFICIENCY EQUIPMENT AND BUILDINGS. EFFICIENCY VERMONT IS OPERATED PURSUANT TO AN ORDER OF APPOINTMENT FROM THE VERMONT PUBLIC UTILITY COMMISSION THAT EXPIRES ON DECEMBER 31, 2026, AND REPRESENTED APPROXIMATELY 67% OF TOTAL VEIC REVENUES IN 2018. 18612229 20000602 THE DC SUSTAINABLE ENERGY UTILITY (DCSEU) HELPS DISTRICT RESIDENTS AND BUSINESSES USE LESS ENERGY AND SAVE MONEY, AND IS THE ONLY UTILITY IN THE COUNTRY THAT COMBINES ENERGY SAVINGS GOALS WITH SOCIAL EQUITY GOALS. IN ITS 2018 FISCAL YEAR, THE DCSEU HELPED DC RESIDENTS AND BUSINESSES SAVE ENOUGH ELECTRICITY TO POWER 15,000 HOMES FOR AN ENTIRE YEAR, AND CREATED MORE THAN $187 MILLION IN LIFETIME ENERGY COST SAVINGS FOR RATEPAYERS. THE DCSEU INVESTED MORE THAN $4 MILLION ON ENERGY EFFICIENCY PROJECTS IN LOW-INCOME COMMUNITIES, CREATED MORE THAN 85 FULL-TIME EQUIVALENT JOBS FOR RESIDENTS AT DC'S LIVING WAGE, AND PREVENTED MORE THAN 1.2 MILLION TONS OF LIFETIME CARBON EMISSIONS. THE DCSEU PROGRAM IS CONDUCTED THROUGH A CONTRACT WITH THE DEPARTMENT OF ENERGY AND ENVIRONMENT FOR THE PERIOD OF APRIL 5, 2017 THROUGH SEPTEMBER 30, 2021 AND REPRESENTED APPROXIMATELY 23% OF TOTAL VEIC REVENUES IN 2018. 2781233 2981756 EFFICIENCY SMART IS AN ENERGY EFFICIENCY PROGRAM THAT ASSISTS INDIVIDUALS AND BUSINESSES IN LOWERING THEIR POWER BILLS BY PROVIDING TECHNICAL ASSISTANCE AND FINANCIAL INCENTIVES FOR EQUIPMENT AND SYSTEMS THAT IMPROVE ELECTRICAL EFFICIENCY. IN 2018 EFFICIENCY SMART SERVED 58 OF AMERICAN MUNICIPAL POWER'S MEMBER UTILITIES IN FOUR STATES-REACHING 14,378 RESIDENTIAL HOUSEHOLDS AND 164 BUSINESSES WHO WILL SAVE AN AGGREGATE OF $6.3 MILLION OVER THE LIFETIME OF THEIR 2018 INVESTMENTS. EFFICIENCY SMART IS OPERATED THROUGH A CONTRACT WITH AMERICAN MUNICIPAL POWER FOR THE PERIOD OF JANUARY 1, 2017 THROUGH DECEMBER 31, 2019 AND REPRESENTED APPROXIMATELY 3% OF TOTAL VEIC REVENUES IN 2018. 4587528 5511011 4587528 5511011 82767648 1 0 0 1 0 0 0 0 0 0 1 0 0 1 0 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 882 0 1 310 1 0 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X SCOTT COMEAU 8026586060 128 LAKESIDE AVENUE SUITE 401 BURLINGTON VT 05401 JOHN GILROY DIRECTOR 1.00 X 1500 0 0 MEG POWER DIRECTOR 1.00 X 0 0 0 GUS SEELIG DIRECTOR 1.00 X 1500 0 0 CHARLES STONE VICE PRESIDENT 1.00 X X 1500 0 0 RICHARD COWART PRESIDENT 1.00 X X 1500 0 0 SUE COAKLEY TREASURER 1.00 X X 1500 0 0 ELLEN ZUCKERMAN DIRECTOR 1.00 X 500 0 0 COLIN OWYANG DIRECTOR 1.00 X 0 0 0 MICHAEL DWORKIN DIRECTOR 1.00 X 1500 0 0 NICK RICHARDSON DIRECTOR 1.00 X 500 0 0 JANET BESSER DIRECTOR 1.00 X 0 0 0 JIM MADEJ CEO 38.00 X 204756 0 18748 SCOTT COMEAU CFO 38.00 X 178080 0 15104 KURT JANSON SECRETARY AND GENERAL COUNSEL 38.00 X 140409 0 6902 THEODORE TRABUE DIRECTOR DC SEU 38.00 X 164112 0 23206 MARCUS WALKER DIRECTOR DC SEU OPERATIONS 38.00 X 152039 0 24816 EVERETT WOODEL DIRECTOR, MIDWEST REGION 38.00 X 154168 0 7691 KAREN GLITMAN DIRECTOR, EFFICIENCY VERMONT 38.00 X 158027 0 24334 BARRY HULCE DIRECTOR OF DISTRIBUTED UTILITIES 38.00 X 162625 0 14207 ANMOL VANAMALI DIRECTOR, FINANCING STRATEGIES 38.00 X 145435 0 8362 PATRICIA BOYD SENIOR TECHNOLOGY STATEGIST 38.00 X 140869 0 7996 MATTHEW DOOLEY DIRECTOR,ENERGY SERVICES 38.00 X 149358 0 18500 ANGELA JOHNSON DIRECTOR, FINANCE 38.00 X 145769 0 15072 SHERYL DOVE MANAGER, STRATEGY AND PLANNING 38.00 X 146060 0 24500 2051707 0 209438 68 0 1 0 CAPSTONE COMMUNITY ACTION INC 20 GABLE PLACE BARRE VT 05641 ENERGY EFFICIENCY CONSULTANT 659171 PEER CONSULTANTS PC 409 12TH ST SW SUITE 603 WASHINGTON DC 20024 TEMP STAFFING AGENCY 498915 CASCADE ENERGY 123 NE 3RD AVE SUITE 400 PORTLAND OR 97232 EDUCATION AND TRAINING 335595 ENERGY FEDERATION INCORPORATED 1 WILLIOW SUITE 2000 SOUTHBOROUGH MA 01745 CUSTOMER INCENTIVE PROCESSOR 257382 INSTITUTE FOR MARKET TRANSFORMATION 1707 L STREET NW SUITE 1050 WASHINGTON DC 20036 EDUCATION AND TRAINING 253618 10 ENERGY EFFICENCY UTILITIES 561000 79426329 79426329 ENERGY SERVICES: CONSULTING 541700 5184037 5184037 PERFORMANCE INCENTIVE AWARDS 541700 2398438 2398438 PROJECT REVENUE 541700 326974 326974 87335778 93799 93799 87429577 87429577 0 0 1161591 628346 533245 22385027 21678649 706378 1050671 996218 54453 6015504 5713530 301974 2144520 2033377 111143 71263 52206 19057 75000 62522 12478 60000 60000 5046541 4858319 188222 855644 855644 1047995 983885 64110 2713745 2667129 46616 738179 617111 121068 328245 288680 39565 430557 408508 22049 231854 223162 8692 INCENTIVE PAYMENTS 39227107 39227107 EQUIPMENT AND SOFTWARE 924235 885457 38778 OTHER EXPENSES 892733 587798 304935 85400411 82767648 2632763 0 1614303 7577105 877717 243328 12398479 7793138 1509862 2781885 69027 22430 714512 1037535 7715620 6828573 869141 887047 447159 5315 5315 5518826 1889911 23577182 22684853 9356613 5847663 193364 345594 3717285 3282060 0 12832037 9910542 X 10745145 12774311 10745145 12774311 23577182 22684853 2029166 0 X X 0 1 X 1 1 1 X 86797423 85836624 87506014 95606270 87335778 443082109 86797423 85836624 87506014 95606270 87335778 443082109 0 0 0 443082109 3988 13365 26547 93799 137699 3988 13365 26547 93799 137699 37666 15283 52949 86797423 85840612 87557045 95648100 87429577 443272757 0.99960 0.97270 0.00030 0.00010 X 0 1 0 0 0 0 1 71120 0 0 71120 0 PART II-B, LINE 1: VEIC'S PRIMARY LOBBYING ACTIVITIES WERE RELATED TO STATE GOVERNMENT ACTIVITIES IN VERMONT. VEIC HAS ONE EMPLOYEE (ABBY WHITE) WHO IS A REGISTERED LOBBYIST WITH THE VERMONT SECRETARY OF STATE'S OFFICE. THIS EMPLOYEE DOES NOT SPEND A MAJORITY OF HER TIME ON LOBBYING. VEIC ALSO EMPLOYS A CONTRACT LOBBYIST WITHIN VERMONT (THE NECRASON GROUP) FOR ASSISTANCE AND SUPPORT ON LEGISLATIVE AND EXECUTIVE BRANCH RELATIONS. VEIC OCCASIONALLY INTERACTS WITH THE FEDERAL GOVERNMENT ON ISSUES AND LEGISLATION OF INTEREST TO THE ORGANIZATION. THIS PRIMARILY COMES THROUGH CONTACTS WITH THE VERMONT CONGRESSIONAL DELEGATION AND THEIR STAFF, AND WITH FEDERAL AGENCY OFFICIALS (MOSTLY AT THE U.S. DEPARTMENT OF ENERGY, BUT PERIODICALLY ALSO WITH STAFF AT THE COUNCIL ON ENVIRONMENTAL QUALITY, THE USDA, AND OTHER AGENCIES WITH PERIPHERAL ENERGY-RELATED INTERESTS). 2203884 2001043 202841 1483219 1478358 4861 4028517 3349172 679345 887047 ACCRUED EEU PERFORMANCE INCENTIVES 1845429 OTHER RECEIVABLES 44482 1889911 X PART X, LINE 2: THE COMPANIES FOLLOW THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES STANDARD WHICH REQUIRES THE REPORTING OF UNCERTAIN TAX POSITIONS, RELATED INTEREST AND PENALTIES, AND TO RECORD LIABILITIES RELATED TO UNCERTAIN TAX POSITIONS AND ACCRUED INTEREST AND PENALTIES ACCORDINGLY. AS OF DECEMBER 31, 2018, MANAGEMENT DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS TO REPORT. UNITED KINGDOM 0 1 125205 CANADA 0 0 44291 0 1 0 0 0 1 169496 0 169496 0 0 0 0 0 0 X X 0 0 0 0 0 0 0 0 0 JIM MADEJ CEO 203537 0 0 0 1219 0 10481 0 18748 0 233985 0 0 0 SCOTT COMEAU CFO 173344 0 0 0 4736 0 8740 0 15104 0 201924 0 0 0 KURT JANSON SECRETARY AND GENERAL COUNSEL 135530 0 0 0 4879 0 6902 0 12695 0 160006 0 0 0 THEODORE TRABUE DIRECTOR DC SEU 163256 0 0 0 856 0 6917 0 23206 0 194235 0 0 0 MARCUS WALKER DIRECTOR DC SEU OPERATIONS 151039 0 0 0 1000 0 16769 0 24816 0 193624 0 0 0 EVERETT WOODEL DIRECTOR, MIDWEST REGION 153653 0 0 0 515 0 0 0 7691 0 161859 0 0 0 KAREN GLITMAN DIRECTOR, EFFICIENCY VERMONT 156617 0 0 0 1410 0 8436 0 25279 0 191742 0 0 0 BARRY HULCE DIRECTOR OF DISTRIBUTED UTILITIES 157209 0 0 0 5416 0 13048 0 14207 0 189880 0 0 0 ANMOL VANAMALI DIRECTOR, FINANCING STRATEGIES 140833 0 0 0 4602 0 2830 0 8362 0 156627 0 0 0 PATRICIA BOYD SENIOR TECHNOLOGY STATEGIST 138258 0 500 0 2111 0 7285 0 16572 0 164726 0 0 0 MATTHEW DOOLEY DIRECTOR,ENERGY SERVICES 144018 0 0 0 5340 0 7154 0 13375 0 169887 0 0 0 ANGELA JOHNSON DIRECTOR, FINANCE 145769 0 0 0 0 0 1534 0 8681 0 155984 0 0 0 SHERYL DOVE MANAGER, STRATEGY AND PLANNING 139060 0 0 0 7000 0 4279 0 11812 0 162151 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S GOVERNING BODY REVIEWS THE FORM 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C VEIC REQUIRES AN ANNUAL SIGN OFF FROM DIRECTORS DISCLOSING INTERESTS THAT COULD GIVE RISE TO CONFLICT OF INTEREST. THE CONFLICT OF INTEREST STATEMENTS ARE SUBMITTED FOR REVIEW TO VEIC. AS SOON AS POTENTIAL CONFLICT OF INTEREST EXISTS, A BOARD MEMBER MUST FULLY DISCLOSE THE NATURE OF THE INTEREST AND WITHDRAW FROM VOTING ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS DETERMINED THE EXECUTIVE DIRECTOR'S SALARY, THE BOARD WAS ADVISED BY THE CONSULTANT/ SEARCH FIRM (ISAACSON MILLER) WHO HELPED THEM HIRE THIS POSITION. THEY ALSO CONSIDERED EXECUTIVE SALARIES FOR OTHER VERMONT NON-PROFIT AND GOVERNMENT INSTITUTIONS. THE EXECUTIVE DIRECTOR'S COMPENSATION IS REVIEWED ANNUALLY. THE EXECUTIVE DIRECTOR MAKES DECISIONS REGARDING ALL KEY EMPLOYEE COMPENSATION (EXCLUDING EXECUTIVE DIRECTOR COMPENSATION WHICH IS DETERMINED BY THE BOARD). FORM 990, PART VI, SECTION C, LINE 19 VEIC PROVIDES THESE DOCUMENTS TO ANY MEMBER OF THE PUBLIC UPON REQUEST. FORM 990, PART XII, LINE 2C: NO CHANGES HAVE BEEN MADE TO THE PROCESS IN THE CURRENT YEAR. COMMONS ENERGY L3C 128 LAKESIDE AVE SUITE 401 BURLINGTON VT 05401 464740743 PROVIDE ENERGY IMPROVEMENT SERVICES TO UNDERSERVED PUBLIC BUILDINGS VT 405884 3689603 VERMONT ENERGY INVESTMENT CORPORATION SUN SHARES LLC 128 LAKESIDE AVE SUITE 401 BURLINGTON VT 05401 474405649 ELECTRIC POWER VT VEIC C 29271 54035 1.00000 0 SUSTAINABILITY BENEFITS CORPORATION 128 LAKESIDE AVE SUITE 401 BURLINGTON VT 05401 822108246 SOFTWARE DEVELOPMENT VT VEIC C -12855 5620 1.00000 0 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 SUN SHARES LLC D 65000 CASH VALUE