Energy Federation Inc

What it reported doing in 2024

Incentive servicesduring efi's history the organization has processed incentives for hundreds of millions of energy efficient products and measures, including energy efficient lighting, appliances, high efficiency hvac equipment, advanced power strips, insulation and air sealing measures, and renewable energy systems, having issued approximately $3 billion worth of incentives on behalf of our clients to-date. Incentives such as these are to encourage consumers and businesses to invest in energy efficient products and measures that they might not otherwise. The types of incentive services that efi makes available to utilities include the following: upstream rebates, in which the incentive agreement is typically executed between the utility sponsor and a manufacturer/retailer, result in the customer price for the energy efficient product being discounted by the amount of the incentive provided by the utility. Efi verifies the purchase data provided by the manufacturer/retailer and reimburses the manufacturer/retailer. Midstream rebates, for which customer and measure eligibility is confirmed by a retailer or distributor, with the utility rebate applied by the distributor during the purchase. Efi verifies the customer and measure eligibility and reimbursed the midstream distributor. Downstream rebates are those in which the end-user must apply for a rebate subsequent to the purchase of the energy efficient measure. Efi usually supports these programs through the deployment of an online site through which required information may be entered and/or uploaded. Efi sometimes enters information from downstream rebates on behalf of the customer, but today management of downstream programs consists more of reviewing and verifying customer-submitted data. Instant rebates allow eligible customers to verify their eligibility for a utility rebate on a given product through their smart phone, select from a list of participating retailers, and have a discount code barcode sent to their phone via text that will apply the utility rebate during checkout at the retailer. The savings from the products and measures for which utilities offer financial incentives (rebates) provide significant benefits to consumers and businesses in the form of lower energy bills, they reduce the need for additional power plant development associated with electricity generation, and they result in reduced atmospheric emissions of greenhouse gasses.

Financial Efficiency

• Mission deployment rate: 100%; rating input score 100
• Program expense ratio: 63.9%; rating input score 64
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
• Pay-setting controls: 3 of 6 controls in place; rating input score 50
  • Compensation committee: Pass
  • Independent consultant: Missing
  • Other Form 990s reviewed: Pass
  • Written employment contract: Missing
  • Compensation survey or study: Missing
  • Board or committee approval: Pass
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 80%; rating input score 80; 25th percentile among comparable filings
• Governance controls: 9 of 9 controls in place; rating input score 100
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: Pass
  • Other executive compensation review process: Pass
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -157.6%; rating input score 15; 15th percentile among comparable filings
• Total-asset coverage ratio: 1.42; rating input score 29; 29th percentile among comparable filings
• Liabilities to assets ratio: 0.44; rating input score 11; 11th percentile among comparable filings
• Officer compensation ratio: 73.4%; rating input score 5; 5th percentile among comparable filings

Growth

• Program expense growth: -4.7% per year; rating input score 0; 38th percentile among comparable filings
• Revenue growth: -0.7% per year; rating input score 0; 57th percentile among comparable filings
• Asset growth: -0.5% per year; rating input score 0; 37th percentile among comparable filings