Virginia Pace Authority

Nonprofit profile at a glance

EIN: 834132579
IRS 990-EZ coverage: 2020–2024
Forms available: Form 990-EZ 2024
Location: Springfield, VA, USA
Phone: 4153077777
Rating: 50
Verdict: MIXED
Rating confidence: Moderate
Sector: Science and Technology N.E.C.

Reported finances

Revenue: $61,416
Expenses: $172,476
Assets: $20,407
Liabilities: $471,405

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

Leadership & pay

6 people listed

Executive titles in this filing

Sydney Covey (Vice President)

People named in this filing

William Nusbaum (Secretary)
Paul Brooks (Treasurer)
Greg Montgomery (Director)

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

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

Overview

Mission

Administering Clean Energy Financing

What it reported doing in 2024

Startup production and advancement of PACE (commercialproperty assessed clean energy) programs in the stateof Virginia

Operating model

Revenue model: Earned-program. 81% of the money available for current operations came from fees and other program revenue.
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

MIXED - The filed numbers largely add up and revenue has grown recently. 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: 14
Transparency & Controls: 100
Sustainability: 7
Growth: 60

Detailed rating inputs

Financial Efficiency

Mission deployment rate: 19.2%; rating input score 19
Program expense ratio: 6.8%; rating input score 7

Transparency & Controls

Consistency checks: 100%; rating input score 100; 52nd percentile among comparable filings
Major donor itemization: Yes; rating input score 100

Sustainability

Operating margin: -180.8%; rating input score 5; 5th percentile among comparable filings
Total-asset coverage ratio: 0.12; rating input score 12; 12th percentile among comparable filings
Liabilities to assets ratio: 23.1; rating input score 1; 1st percentile among comparable filings
Officer compensation ratio: 5.6%; rating input score 10; 10th percentile among comparable filings

Growth

Program expense growth: -39.4% per year; rating input score 0; 10th percentile among comparable filings
Revenue growth: 5.4% per year; rating input score 100; 72nd percentile among comparable filings
Asset growth: 24.2% per year; rating input score 100; 89th percentile among comparable filings

Details

Where the money goes: 19.2% of revenue deployed · 6.8% of spending went to programs
Governance: Filed governance answers
Accomplishments: 1 filed program accomplishment · $12K in reported program spending
Leadership: top reported pay $0 · 6 people listed
Consistency: 7 of 7 current checks pass
Schedules: 3 filed schedules
Filing history: 5 filing years from 2020 to 2024
Contacts: How to reach this organization
Money network: 1 filed money-flow record
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 19/100.
High — Financial Efficiency: Program expense ratio scored 7/100.
High — Sustainability: Operating margin scored 5/100.
High — Growth: Program expense growth scored 0/100.
High — Sustainability: Total-asset coverage ratio scored 12/100.
High — Sustainability: Liabilities to assets ratio scored 1/100.
High — Sustainability: Officer compensation ratio scored 10/100.