Mid-hudson Energy Transition Inc

Nonprofit profile at a glance

EIN
872100911
IRS 990 coverage
2022–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
Kingston, NY, USA
Phone
8453831050
Rating
70
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Energy Resources Conservation and Development

Official website

Reported finances

Revenue
$1,776,416
Expenses
$1,128,612
Assets
$1,557,360
Liabilities
$532,334

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

Leadership & pay

8 people listed

Executive titles in this filing

  • SUSAN GILLESPIE (PRESIDENT)

Highest reported compensation

  • JASMINE GRAHAM (MEMBER): $196,403 total reported compensation

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

Overview

Mission

Our mission is to empower municipalities, residents, and businesses to own and shre renewable energy, create healthier buildings, and join in community wealth-building to strengthen the resilience of the hudson valley in the face of climate change.

What it reported doing in 2024

We have a number of program in place to accomplish our mission. Programs include: 1) community choice aggregation (cca); 2) home upgrade grants (hug) program; and 3) the home energy loan program (help). The cca program allows cities and towns to pool together the buying power of their residents and small businesses to purchase cleaner, affordable electricity on their behalf. Under cca, the local government can select a cleaner energy supply mix than what the utility offers and the customers' utility continues to deliver that energy over the existing power lines. The hug program provides grants to address households with inadequate living conditions, including poor indoor air quality, high energy bills, and uncomfortable homes. The grants aim to address barriers to accessing available incentives to improve energy efficiency standards by partnering with local organizations, contractors, and homeowners to improve their homes' comfort, health & safety, and affordability.help provides extremely low-interest loans and small grants to low-income individuals to finance healthy, energy efficient, and climate resilient home improvements.

Operating model

Revenue model
Donor-supported. 84% of the money available for current operations came from contributions and gifts.
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.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 74
  • Accountability: 88
  • Sustainability: 62
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 46%; rating input score 46
  • Program expense ratio: 68.8%; rating input score 69
  • Fundraising efficiency: $18.12 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: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • 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: 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: 5 of 7 controls in place; rating input score 71
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • 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: 36.5%; rating input score 88; 88th percentile among comparable filings
  • Total-asset coverage ratio: 1.38; rating input score 53; 53rd percentile among comparable filings
  • Liabilities to assets ratio: 0.34; rating input score 22; 22nd percentile among comparable filings
  • Officer compensation ratio: 17.4%; rating input score 18; 18th percentile among comparable filings

Growth

  • Program expense growth: 98% per year; rating input score 100; 99th percentile among comparable filings
  • Revenue growth: 7.9% per year; rating input score 100; 59th percentile among comparable filings
  • Asset growth: 1.4% per year; rating input score 100; 23rd percentile among comparable filings

Details

  • Where the money goes: 46% of revenue deployed · 68.8% of spending went to programs
  • Governance: 8 of 8 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $777K in reported program spending
  • Leadership: top reported pay $196K · 8 people listed · 1 of 6 pay-setting controls reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • Related organizations: 1 filed related-organization link
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • Moderate — Financial Efficiency: Mission deployment rate scored 46/100.
  • Review — Financial Efficiency: Fundraising efficiency scored 56/100.
  • Review — Accountability: Governance controls: Independent financial-statement audit not reported.
  • Review — Sustainability: Total-asset coverage ratio scored 53/100.
  • High — Sustainability: Officer compensation ratio scored 18/100.
  • High — Sustainability: Liabilities to assets ratio scored 22/100.