Nevada Clean Energy Fund

Nonprofit profile at a glance

EIN: 824784502
IRS 990 coverage: 2021–2024
Forms available: Form 990 2024
Location: Reno, NV, USA
Phone: 7757370975
Rating: 78
Verdict: SUPPORTED
Rating confidence: Moderate
Sector: Public, Society Benefit N.E.C.

Reported finances

Revenue: $3,633,493
Expenses: $3,420,826
Assets: $14,098,169
Liabilities: $12,507,155

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

Leadership & pay

13 people listed

Executive titles in this filing

KIRSTEN STASIO (CEO)

Highest reported compensation

KIRSTEN STASIO (CEO): $170,774 total reported compensation
ASHEESH BHALLA (GENERAL COUN): $128,765 total reported compensation
GREGORY ZEGAS (INVESTMENTS): $119,823 total reported compensation

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

Overview

Mission

The Nevada clean energy fund (ncef) is a non-profit organization that supports a thriving, affordable, and accessible clean energy economy by providing financial and technical resources to nevadans.

What it reported doing in 2024

The Nevada clean energy fund (ncef) is a nonprofit organization whose mission is to support a thriving, affordable, and accessible clean energy economy by providing financial and technical resources to nevadans. Ncef was established by Nevada legislation in 2017 to accelerate clean energy growth in the state, reduce energy costs, create jobs, and meaningfully address climate change. Ncef works with communities, local businesses, schools, governments, utilities, contractors, lenders, and others to increase access to clean energy opportunities such as renewable energy, energy efficiency, zero-emission vehicles, and energy storage.

Operating model

Revenue model: Grant-funded. 77% of the money available for current operations came from government grants.
Distribution model: Direct operator. The filing allocates 88% 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 - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

Financial Efficiency: 77
Transparency & Controls: 75
Accountability: 86
Sustainability: 52
Growth: 100

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 74.4%; rating input score 74
Program expense ratio: 77.1%; rating input score 77
Fundraising efficiency: $354.47 raised per $1 spent on fundraising; rating input score 94; 94th 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: 100%; rating input score 100; 72nd 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: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Fail
- Document-retention policy: Fail
- CEO compensation review process: Pass
- 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: 5.9%; rating input score 53; 53rd percentile among comparable filings
Total-asset coverage ratio: 4.12; rating input score 80; 80th percentile among comparable filings
Liabilities to assets ratio: 0.89; rating input score 8; 8th percentile among comparable filings
Officer compensation ratio: 14.9%; rating input score 19; 19th percentile among comparable filings

Growth

Program expense growth: 97.3% per year; rating input score 100; 99th percentile among comparable filings
Revenue growth: 77.7% per year; rating input score 100; 99th percentile among comparable filings
Asset growth: 108% per year; rating input score 100; 99th percentile among comparable filings

Details

Where the money goes: 74.4% of revenue deployed · 77.1% of spending went to programs
Governance: 9 of 9 board members independent · 6 of 9 filing controls reported
Programs: 1 filed program accomplishment · $2.6M in reported program spending
Leadership: top reported pay $171K · 13 people listed · 1 of 6 pay-setting controls reported
Consistency: 34 of 34 current checks pass
Schedules: 8 filed schedules · includes major donors, grants, and executive pay
Filing history: 4 filing years from 2021 to 2024
Contacts: How to reach this organization
Money network: 7 filed money-flow records
Related organizations: 3 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.

Key Signals

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

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

Review — Accountability: Governance controls: 3 of 9 not reported.
Review — Sustainability: Operating margin scored 53/100.
High — Sustainability: Liabilities to assets ratio scored 8/100.
High — Sustainability: Officer compensation ratio scored 19/100.
High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.