2015-08-05T15:35:34-05:00 2014-12-31 521446779 JOHNSON LAMBERT LLP PO BOX 525 BURLINGTON VT 05402 990 2014-01-01 030304418 VERMONT ENERGY INVESTMENT CORPORATION VERM 8026586060 128 LAKESIDE AVENUE NO 401 BURLINGTON VT 054014894 SCOTT COMEAU CFO 8026586060 2015-08-05 1 MATT T GRAVELIN CPA P00962423 8023834800 2014 2016-03-07 17:11:31Z SCOTT COMEAU 128 LAKESIDE AVENUE NO 401 BURLINGTON VT 054014894 86797423 0 X WWW.VEIC.ORG X 1986 VT VEIC'S MISSION IS TO REDUCE THE COSTS, BOTH ECONOMIC AND ENVIRONMENTAL, OF ENERGY USE. 9 9 375 0 0 0 0 0 75494925 86797423 996 0 0 0 75495921 86797423 0 0 0 0 27836743 29131482 0 0 0 46976666 56679156 74813409 85810638 682512 986785 25961901 20660969 18529793 12242076 7432108 8418893 X VERMONT ENERGY INVESTMENT CORPORATION'S (VEIC) MISSION IS TO REDUCE THE COSTS, BOTH ECONCOMIC AND ENVIRONMENTAL, OF ENERGY USE. VEIC PURSUES THEIR MISSION THROUGH PLANNING, IMPLEMENTATION, AND FINANCING OF ENERGY PROGRAMS AND PROJECTS, AND BY ADVOCATING FOR PUBLIC POLICIES THAT MAXIMIZE COST-EFFECTIVE CARBON-REDUCTION THROUGH ENERGY EFFICIENCY AND RENEWABLE ENERGY. 0 0 65273659 80619364 ENERGY EFFICIENCY UTILITIES: VEIC OPERATES ENERGY EFFICIENCY UTILITIES (EEUS) IN VERMONT (EFFICIENCY VERMONT), THE DISTRICT OF COLUMBIA (DC SEU), AND OHIO (EFFICIENCY SMART). THE EFFICIENCY VERMONT PROGRAM PROVIDES ENERGY EFFICIENCY SERVICES TO HOMES AND BUSINESSES IN VERMONT TO HELP VERMONTERS SAVE MONEY AND HELP REDUCE CARBON DIOXIDE EMISSIONS. THE DC SEU PROGRAM OFFERS INTEGRATED PERFORMANCE-BASED IMPLEMENTATION SERVICES, BASED ON VEIC'S INDUSTRY-LEADING PROGRAMS. THE DC SEU PROGRAM'S INITIATIVES ARE TO REDUCE ELECTRIC AND GAS ENERGY USE BY 1% PER YEAR, INVEST 30% OF PROGRAM FUNDING INTO IMPROVING THE ENERGY EFFICIENCY OF LOW-INCOME HOUSING, AND CREATING GREEN JOBS. CONTINUED ON SCHEDULE O.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. 4565016 6178059 GENERAL CONSULTING AND OTHER ENERGY EFFICIENCY IMPLEMENTATION PROGRAMS - VEIC PROVIDES NATIONAL AND INTERNATIONAL CONSULTING SERVICES TO CONSUMER AND ENVIRONMENTAL ORGANIZATIONS, ELECTRIC AND GAS UTILITIES, AND OTHER CLIENTS, FOR ENERGY EFFICIENCY AND RENEWABLE ENERGY ACTIVITIES. 69838675 1 0 0 1 0 0 0 0 0 0 1 0 0 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 910 0 1 375 1 0 0 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X SCOTT COMEAU 8026586060 128 LAKESIDE AVENUE SUITE 401 BURLINGTON VT 05401 GUS SEELIG CHAIR 1.00 X X 2500 0 0 MEG POWER PRESIDENT 1.00 X X 2500 0 0 SUE COAKLEY VICE CHAIR 1.00 X X 0 0 0 CHARLES SMITH TREASURER 1.00 X X 2500 0 0 CHARLES STONE DIRECTOR 1.00 X 2968 0 0 TIFFANY BLUEMLE DIRECTOR 1.00 X 0 0 0 RICHARD COWART DIRECTOR 1.00 X 2500 0 0 MICHAEL DWORKIN DIRECTOR 1.00 X 2500 0 0 JOHN GILROY DIRECTOR 1.00 X 2727 0 0 DONALD JOHNSTONE EXECUTIVE DIRECTOR 37.50 X 162475 0 20526 SCOTT COMEAU CHIEF FINANCIAL OFFICER 37.50 X 132977 0 13368 LINDA GIBSON DIRECTOR OF ADMINISTRATION 37.50 X 70926 0 4913 BETH SACHS CO-FOUNDER/SECRETARY 33.80 X 90911 0 12384 JAMES MERRIAM DIRECTOR VEIC OPERATIONS 37.50 X 155358 0 19777 THEODORE TRABUE JR DIRECTOR DC SEU 37.50 X 146274 0 16824 MARCUS WALKER DIRECTOR DC SEU OPERATIONS 37.50 X 140135 0 15151 ERIN CARROLL DIRECTOR CONSULTATIVE SERVICES 37.50 X 161065 0 9165 KRISTYN WILDER DIRECTOR EFFICIENCY SMART 37.50 X 137731 0 7574 1216047 0 119682 43 0 1 0 CTI GLOBAL SOLUTIONS INC 1050 17TH ST NW WASHINGTON DC 20036 ENERGY EFFICIENCY CONSULTANT 554601 GEORGE L NICHOLS & ASSOCIATES LLC 505 G STREET NE WASHINGTON DC 20002 ENERGY EFFICIENCY CONSULTANT 402626 CAPSTONE COMMUNITY ACTION INC 20 GABLE PLACE BARRE VT 05641 ENERGY EFFICIENCY CONSULTANT 370458 OPTIMAL ENERGY INC 10600 ROUTE 116 HINESBURG VT 05461 ENERGY EFFICIENCY CONSULTANT 357346 ENERGY FEDERATION INCORPORATED 40 WASHINGTON STREET WESTBOROUGH MA 01581 ENERGY EFFICIENCY CONSULTANT 314435 24 ENERGY EFFICENCY UTILITIES 561000 80619364 80619364 ENERGY SERVICES: CONSULTING 541700 4449309 4449309 PERFORMANCE INCENTIVE AWARDS 541700 1728750 1728750 86797423 86797423 86797423 0 0 X 701890 435632 266258 23180612 16480762 6699850 988546 988546 2411485 2411485 1848949 1848949 46093 46093 64507 64507 48000 48000 12139410 11468782 670628 902325 902325 1498900 1318672 180228 128901 128893 8 2304641 1969520 335121 1017585 846876 170709 507829 441730 66099 144876 56213 88663 454839 116417 338422 157494 157494 INCENTIVE PAYMENTS 34280228 34280228 OTHER EXPENSES 1365170 475838 889332 EQUIPMENT AND SOFTWARE 954475 483896 470579 MANTENANCE AND REPAIRS 663883 432891 230992 85810638 69838675 15971963 0 8485 986472 27720 27789 20977918 12558294 54694 50000 124293 672500 695460 1097588 5846766 4714462 1219182 1132304 2854149 4136022 25961901 20660969 13458678 11699174 39909 244013 4512894 0 518312 298889 18529793 12242076 X 7432108 8418893 7432108 8418893 25961901 20660969 986785 0 X 0 1 X 1 1 1 X 1810397 8637774 4838071 15286242 43919136 59441444 71559837 75494925 86797423 337212765 45729533 68079218 76397908 75494925 86797423 352499007 0 141211 8140516 16359509 11658050 36299286 141211 8140516 16359509 11658050 36299286 316199721 3173 39712 3498 996 47379 3173 39712 3498 996 47379 556076 556076 45732706 68675006 76401406 75495921 86797423 353102462 0.89550 0.87320 0.00010 0.00020 X 0 1 0 0 0 0 1 80795 0 0 80795 0 PART II-B, LINE 1: VEIC'S PRIMARY LOBBYING ACTIVITIES WERE RELATED TO STATE GOVERNMENT ACTIVITIES IN VERMONT. VEIC HAS TWO EMPLOYEES (GEORGE TWIGG AND SCUDDER PARKER) WHO ARE REGISTERED LOBBYISTS WITH THE VERMONT SECRETARY OF STATE'S OFFICE. NEITHER SPEND A MAJORITY OF THEIR 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). 2083302 1889273 194029 1459902 1134222 325680 2303562 1690967 612595 1132304 ACCRUED EEU PERFORMANCE INCENTIVES 3864946 DUE FROM LANDLORD (MAIN FACILITY LEASE) 271076 4136022 CAPITAL LEASE OBLIGATIONS 298889 298889 X 85068673 0 85068673 1728750 1728750 86797423 84081888 -1728750 -1728750 85810638 0 85810638 PART X, LINE 2: VEIC AND COMMONS ENERGY FOLLOW THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES STANDARD WHICH REQUIRES VEIC TO REPORT UNCERTAIN TAX POSITIONS, RELATED INTEREST AND PENALTIES, AND TO RECORD LIABILITIES RELATED TO UNCERTAIN TAX BENEFITS AND ACCRUED INTEREST AND PENALTIES ACCORDINGLY. AS OF DECEMBER 31, 2014 AND 2013, MANAGEMENT DETERMINED THAT THERE ARE NO MATERIAL UNRECOGNIZED TAX POSITIONS TO REPORT. PART XI, LINE 4B - OTHER ADJUSTMENTS: PERFORMANCE INCENTIVE AWARD INCOME PART XII, LINE 2D - OTHER ADJUSTMENTS: PERFORMANCE INCENTIVE AWARD INCOME 1 X X 1 0 0 0 0 0 0 0 0 DONALD JOHNSTONE EXECUTIVE DIRECTOR 161075 0 0 0 1400 0 10177 0 10349 0 183001 0 0 0 JAMES MERRIAM DIRECTOR VEIC OPERATIONS 155358 0 0 0 0 0 9768 0 10009 0 175135 0 0 0 THEODORE TRABUE JR DIRECTOR DC SEU 145524 0 0 0 750 0 6171 0 10653 0 163098 0 0 0 MARCUS WALKER DIRECTOR DC SEU OPERATIONS 140135 0 0 0 0 0 4498 0 10653 0 155286 0 0 0 ERIN CARROLL DIRECTOR CONSULTATIVE SERVICES 159153 0 0 0 1912 0 8408 0 757 0 170230 0 0 0 PART I, LINE 4A VEIC PROVIDED SEVERANCE PAYMENTS TO KRISTYN WILDER, DIRECTOR OF EFFICIENCY SMART IN THE AMOUNT OF $29,856. FORM 990, PART VI, SECTION B, LINE 11 THE AUDIT COMMITTEE REVIEWS THE 990 AND THEN PRESENTS A SUMMARY TO THE GOVERNING BOARD FOR APPROVAL. 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 A 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 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 DOES NOT HAVE A POLICY THAT MAKES THESE DOUCMENTS AVAILABLE TO THE PUBLIC, HOWEVER, VEIC WOULD PROVIDE THESE DOCUMENTS TO ANY MEMBER OF THE PUBLIC WHO REQUESTS TO SEE THEM. FORM 990, PART IX, LINE 11G WORK BASED ON DEFINED DELIVERABLES RELATED TO DIRECT BILLABLE PROJECTS: PROGRAM SERVICE EXPENSES 7,870,224. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 7,870,224. INDIRECT POOL CONTRACTORS (I.E. FINANCE, IT) AND SOFTWARE SUPPORT: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 639,156. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 639,156. SERVICES PERFORMED ON INCENTIVE-BASED PROGRAMS OR RECEIVED INCENTIVE: PROGRAM SERVICE EXPENSES 3,125,362. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,125,362. WORK RELATED TO DIRECT BILLABLE PROJECTS: PROGRAM SERVICE EXPENSES 2,362. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,362. WORK TO SUPPORT A DIRECT DIVISION WITHOUT DEFINED DELIVERABLES: PROGRAM SERVICE EXPENSES 470,834. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 470,834. SUBCONTRACTORS WORKING ON MISSION-RELATED PROJECTS OR ADVERTISING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 31,472. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 31,472. COMMONS ENERGY L3C 128 LAKESIDE AVE SUITE 401 BURLINGTON VT 05401 464740743 PROVIDE ENERGY IMPROVEMENT SERVICES TO UNDERSERVED PUBLIC BUILDINGS VT 350000 204145 VERMONT ENERGY INVESTMENT CORPORATION