Veic
Overview
Mission
VEIC helps energy leaders nationwide meet their clean energy goals. As a nonprofit organization, we work in the service of people and planet, designing innovative and holistic solutions that grow local economies, improve public health, and strengthen communities. Decarbonization support Helping partners shift from efficiency to comprehensive carbon reduction. VEIC helps clients transform promising ideas into proven clean energy solutions fit for broad adoption. Through hands-on testing of program designs, new technologies, and policies, we uncover practical ways to overcome the barriers to decarbonization. Whether you’re updating infrastructure for electrification, retrofitting existing systems, or integrating benefits like health and resilience, our team’s efforts deliver not just proof of what works, but a clear path forward for scaling to greatest effect. Our approach emphasizes...
What it reported doing in 2024
Veic provides national and international consulting services to utilities, businesses, government agencies, municipalities, and foundations. We work with our clients to decarbonize their energy systems through our four core services: energy efficiency, building decarbonization, transportation electrification, and making electricity grids clean and flexible. We help our clients save energy, reduce greenhouse gas emissions, and advance social and economic equity. In 2024, 59% of veic's org-wide consulting work had an explicit focus on low-to-moderate-income communities. In 2024, veic expended $9,383,100 in federal grants funded by the coronavirus state and local fiscal recovery funds.veic had a net loss for 2024 and had budgeted for this net loss in order to support making investments to support future year revenue growth. This was in line with veic's strategic plan to increase impact and delivery of its mission over the next several years.
Operating model
- Revenue model
- Earned-program. 92% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Direct operator. The nonprofit carried out 93% of its reported program work directly.
Nonprofit profile at a glance
- EIN
- 030304418
- IRS 990 coverage
- 2010–2024
- Website reviewed
- Jun 2026
- Forms available
- Form 990 2024
- Headquarters
- Winooski, VT, USA
- Rating
- 83
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Environment and Animals
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. The filing reports few safeguards for money sent abroad and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 95
- Transparency & Controls: 68
- Accountability: 89
- Sustainability: 27
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 95.1%; rating input score 95
- Program expense ratio: 94.9%; rating input score 95
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 71st percentile among comparable filings
- Pay-setting controls: 4 of 6 controls in place; rating input score 67
- Foreign activity oversight: Scored; rating input score 0
- Grant itemization coverage: 100%; rating input score 100; 48th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
- Public monitoring controls: 0 of 8 controls in place; rating input score 0
- Public policy transparency: 2 of 7 controls in place; rating input score 29
- Public financial transparency: 2 of 5 controls in place; rating input score 40
- Impact reporting controls: 4 of 7 controls in place; rating input score 57
- Public relationship transparency: No; rating input score 0
Accountability
- Independent voting board: 100%; rating input score 100; 76th percentile among comparable filings
- Governance controls: 9 of 9 controls in place; rating input score 100
- Public governance controls: 0 of 4 controls in place; rating input score 0
- Zakat policy transparency: Limited
Sustainability
- Operating margin: -0.2%; rating input score 26; 26th percentile among comparable filings
- Operating reserve ratio: 0.41; rating input score 14; 14th percentile among comparable filings
- Liabilities to assets ratio: 0.46; rating input score 39; 39th percentile among comparable filings
- Officer compensation ratio: 2.3%; rating input score 49; 49th percentile among comparable filings
Growth
- Program expense growth: 6.5% per year; rating input score 100; 53rd percentile among comparable filings
- Revenue growth: 5.4% per year; rating input score 100; 46th percentile among comparable filings
- Asset growth: 9.6% per year; rating input score 100; 68th percentile among comparable filings
Details
- What they do: 1 programs and campaigns described on the official site
- Where the money goes: 95.1% of revenue deployed · 94.9% of spending went to programs
- Governance: 11 of 11 board members independent · 9 of 9 filing controls reported
- Programs: 4 filed program accomplishments · $124.5M in reported program spending
- Leadership: top reported pay $413K · 24 people listed · 4 of 6 pay-setting controls reported
- Consistency: 32 of 32 current checks pass
- Schedules: 9 filed schedules · includes major donors, foreign activity, grants, and executive pay
- Filing history: 13 annual filings from 2010 to 2024
- Money network: 43 filed money-flow records
- Related organizations: 23 filed related-organization links