Hanover County Clean Technology Innovation Center

Nonprofit profile at a glance

EIN
271229777
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Ashland, VA, USA
Phone
8046773885
Rating
76
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Energy Resources Conservation and Development

Reported finances

Revenue
$600,051
Expenses
$704,022
Assets
$595,940
Liabilities
$4,665

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

9 people listed

Executive titles in this filing

  • BRANDON TURNER (PRESIDENT)

People named in this filing

  • EMIL AVRAM (BOARD MEMBER)
  • DONTRESE BROWN (BOARD MEMBER)
  • JOSH FARRRAR (TREASURER)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support the innovations needed to achieve a net-zero carbon economy

What it reported doing in 2024

Provide incubator space and grants to start-up organizations and organizations wih innovations to achieve a net-zero carbon economy.

Operating model

Revenue model
Donor-supported. 82% of the money available for current operations came from contributions and gifts.
Distribution model
Direct operator. The filing allocates 86% 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.

The verdict

SUPPORTED - The filed numbers largely add up and a large share of available resources goes toward mission work. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 68
  • Transparency & Controls: 94
  • Accountability: 70
  • Sustainability: 34
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74%; rating input score 74
  • Program expense ratio: 62.6%; rating input score 63
  • Fundraising efficiency: $18.2 raised per $1 spent on fundraising; rating input score 56; 56th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -17.3%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 0.85; rating input score 37; 37th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 71; 71st percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 51.2% per year; rating input score 100; 96th percentile among comparable filings
  • Revenue growth: 46.3% per year; rating input score 100; 96th percentile among comparable filings
  • Asset growth: 34.1% per year; rating input score 100; 93rd percentile among comparable filings

Details

  • Where the money goes: 74% of revenue deployed · 62.6% of spending went to programs
  • Governance: 9 of 9 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $441K in reported program spending
  • Leadership: top reported pay $0 · 9 people listed
  • Consistency: 26 of 26 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2020 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 37/100.