Harvard Dedicated Energy Limited

Overview

Mission

Harvard dedicated energy limited exists to purchase wholesale power for harvard university.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

Nonprofit profile at a glance

EIN
030425512
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Headquarters
Cambridge, MA, USA
Phone
6174950398
Rating
39
Verdict
REVIEW
Rating confidence
Moderate
Sector
Nonmonetary Support N.E.C.

The verdict

REVIEW - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 21
  • Transparency & Controls: 64
  • Accountability: 32
  • Sustainability: 82
  • Growth: 20

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 28.8%; rating input score 29
  • Program expense ratio: 13.8%; rating input score 14
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 3rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 95.3%; rating input score 99; 99th percentile among comparable filings
  • Total-asset coverage ratio: 49.14; rating input score 99; 99th percentile among comparable filings
  • Liabilities to assets ratio: 0.1; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 117%; rating input score 0; 0th percentile among comparable filings

Growth

  • Program expense growth: -41.3% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: -21.6% per year; rating input score 0; 1st percentile among comparable filings
  • Asset growth: 4.2% per year; rating input score 100; 30th percentile among comparable filings

Details

  • Where the money goes: 28.8% of revenue deployed · 13.8% of spending went to programs
  • Governance: 0 of 3 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment · $31K in reported program spending
  • Leadership: top reported pay $883K · 4 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $135K reported
  • Consistency: 15 of 15 current checks pass
  • Schedules: 5 filed schedules · includes executive pay
  • Filing history: 15 annual filings from 2010 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 217 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Leadership & pay

4 people listed

Highest reported compensation

  • MEREDITH WEENICK (PRESIDENT AND DIRECTOR): $882,830 total reported compensation
  • SEAN CARON (VICE PRESIDENT AND TREASURER): $565,865 total reported compensation
  • AUDREY K WANG (CLERK): $434,486 total reported compensation

Source: IRS Form 990. Selected filing: FY2024.