The Future of Heat Intiative Inc

Nonprofit profile at a glance

EIN
994236866
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Cambridge, MA, USA
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Public Utilities

Reported finances

Revenue
$436,175
Expenses
$113,592
Assets
$328,958
Liabilities
$6,375

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

Leadership & pay

2 people listed

Executive titles in this filing

  • Michael E Bloomberg (Executive Director)
  • Bruce E Biewald (President and Director)

Highest reported compensation

  • Michael E Bloomberg (Executive Director): $62,500 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 Future of Heat Initiative provides state utility regulators policymakers and public interest intervenors with independent research legal analysis and technical support to advance the effective regulation of gas utilities. By equipping decision-makers with rigorous analysis evidence-based insights and practical tools we support policies and investments that safeguard consumers empower workers and accelerate the transition to a modern energy system.

What it reported doing in 2024

Education and collaboration on labor impacts of gas policies

Operating model

Revenue model
Donor-supported. 100% 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 a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 29
  • Transparency & Controls: 100
  • Accountability: 79
  • Sustainability: 71
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 11.8%; rating input score 12
  • Program expense ratio: 45.2%; rating input score 45
  • Fundraising efficiency: $32.28 raised per $1 spent on fundraising; rating input score 68; 68th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • 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: 4 of 8 controls in place; rating input score 50
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 74%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 2.9; rating input score 68; 68th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 40; 40th percentile among comparable filings
  • Officer compensation ratio: 55%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 11.8% of revenue deployed · 45.2% of spending went to programs
  • Governance: 2 of 2 board members independent · 4 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $51K in reported program spending
  • Leadership: top reported pay $62K · 2 people listed
  • Consistency: 36 of 36 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Contacts: How to reach this organization
  • Money network: 1 filed money-flow record
  • 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 — Financial Efficiency: Mission deployment rate scored 12/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 45/100.
  • Review — Accountability: Governance controls: 4 of 8 not reported.
  • High — Sustainability: Officer compensation ratio scored 3/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 40/100.