Vermont Energy Investment Corp
Public records show a registered, tax-exempt organization in good standing.
What it says it does
VEIC IS A SUSTAINABLE ENERGY COMPANY ON A MISSION TO GENERATE THE ENERGY SOLUTIONS THE WORLD NEEDS (CONTINUES IN SCHEDULE O). (CONTINUED), WORKING TO COMBAT THE CLIMATE CRISIS, BOOST COMMUNITY RESILIENCE, AND LOWER ENERGY COSTS. FOR NEARLY 40 YEARS VEIC HAS BEEN WORKING WITH GOVERNMENTS, UTILITIES, FOUNDATIONS AND BUSINESSES ACROSS NORTH AMERICA TO DEVELOP AND DEPLOY CLEAN ENERGY SERVICES THAT PROVIDE IMMEDIATE AND LASTING CHANGE. WITH EXPERTISE IN DECARBONIZATION PLANNING, PROGRAM AND FLEET SOLUTIONS, MARKETING & EDUCATION, AND NEW APPROACHES TO PILOTS AND FEDERAL FUNDING SOLUTIONS, VEIC BRINGS INNOVATIVE IDEAS TO THE MARKET THAT MEET GOALS AND REDUCE GHG. IN ADDITION TO OUR FULL-SERVICE CONSULTING BUSINESS, VEIC ADMINISTERS THREE LARGE-SCALE SUSTAINABLE ENERGY PROGRAMS: EFFICIENCY VERMONT, EFFICIENCY SMART, AND THE DC SUSTAINABLE ENERGY UTILITY (DCSEU).
- Income
- $130.9 million
- Spending
- $131.1 million
- Spent on programs
- 95%
- Reserves
- 2.4 months of spending
- Largest source of income
- fees for its services, 92%
- Employees
- 426
- Volunteers
- 0
- Highest pay
- $413,194, chief executive officer
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Financial health
Fair: 58 out of 100. Higher than 42% of charities in its peer group (environment, over $100m).
Reserves
10 of 35Spendable reserves would cover 2.4 months of spending.
Debt
10 of 20It owes 46% of what it owns.
Living within its means
8 of 15Spending exceeded income by 0% of income.
Income trend
15 of 15Income rose 6% on the year before.
Spending floor
15 of 1595% of spending went to programs and raising each dollar of donations cost 0 cents.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Governance
Strong: 100 out of 100. Higher than 16% of charities in its peer group (environment, over $100m).
Independent board
25 of 2511 of 11 voting board members are independent.
Conflict of interest policy
15 of 15Has a written conflict of interest policy.
Whistleblower policy
8 of 8Has a written whistleblower policy.
Record keeping policy
7 of 7Has a written policy on keeping and destroying records.
Board minutes
5 of 5Keeps minutes of board meetings.
Board sees the tax return
10 of 10Gave the board a copy of this return before filing it.
Pay set independently
5 of 5Sets its chief executive's pay through independent review and comparison.
Independent check of accounts
15 of 15Its accounts were audited by an independent accountant.
No reported misuse
10 of 10Reports no diversion of assets, excess benefits or loans to insiders.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Impact evidence
Describes programs. Its tax return describes what it does but we have found no measurable results in it.
Programs described in its return (4)
- $68.6 million spent. EFFICIENCY VERMONT WORKS WITH PARTNERS TO HELP THE STATE TRANSITION TO MORE AFFORDABLE, LOW CARBON ENERGY USE THROUGH EDUCATION, INCENTIVES, AND SUPPORT FOR OUR CLEAN ENERGY WORKFORCE. THE INVESTMENTS THAT VERMONTERS HAVE MADE IN ENERGY EFFICIENCY SINCE EFFICIENCY VERMONT'S INCEPTION IN 2000 WILL SAVE OVER $3.5 BILLION OVER THE LIFETIME OF THOSE INVESTMENTS, AND AVOID OVER 14.5 MILLION TONS OF CO2E.
- $32.6 million spent. THE DC SUSTAINABLE ENERGY UTILITY (DCSEU) IS THE ONLY UTILITY IN THE COUNTRY THAT COMBINES ENERGY SAVINGS GOALS WITH SOCIAL EQUITY GOALS. SINCE 2011, THE DCSEU HAS HELPED DISTRICT RESIDENTS, BUSINESSES, AND INSTITUTIONS GENERATE MORE THAN $1.4 BILLION IN LIFETIME ENERGY COST SAVINGS AND PREVENT MORE THAN 7 MILLION TONS OF GREENHOUSE GAS EMISSIONS. THE DCSEU HAS INVESTED MORE THAN $60 MILLION IN ENERGY EFFICIENCY AND RENEWABLE ENERGY PROJECTS IN LOW-INCOME COMMUNITIES. OUR WORK IS BUILDING A BRIGHTER ECONOMIC, ENVIRONMENTAL, AND ENERGY FUTURE FOR THE DISTRICT (CONTINUES IN SCHEDULE O).(CONTINUED) IN 2024, THE DCSEU'S EFFORTS GENERATED $333 MILLION IN LIFETIME COST SAVINGS FOR DC RESIDENTS AND BUSINESSES, CREATED 90 GREEN JOBS FOR DISTRICT RESIDENTS, AND PREVENTED 1.08 MILLION MTCO2E IN LIFETIME GREENHOUSE GAS EMISSIONS, THE EQUIVALENT OF 77 MILLION GALLONS OF GASOLINE CONSUMED.
- $3.0 million spent. EFFICIENCY SMART HELPS PARTICIPATING MUNICIPAL ELECTRIC UTILITIES AND THEIR CUSTOMERS REDUCE THEIR ENERGY USE AND SAVE MONEY THROUGH TECHNICAL ASSISTANCE AND FINANCIAL INCENTIVES. SINCE 2011, EFFICIENCY SMART HAS SERVED MORE THAN 65 OF AMERICAN MUNICIPAL POWER'S MEMBER UTILITIES IN FOUR STATES. IN 2024, EFFICIENCY SMART ASSISTED AN ESTIMATED 1,332 RESIDENTIAL HOUSEHOLDS AND 178 BUSINESSES. THESE CUSTOMERS WILL REALIZE MORE THAN $19.5 MILLION IN SAVINGS OVER THE LIFETIME OF THE PRODUCTS THEY INSTALLED. IN ADDITION, PARTICIPATING MUNICIPAL ELECTRIC UTILITIES WILL SAVE NEARLY $11.5 MILLION IN ENERGY, CAPACITY, AND TRANSMISSION COSTS.
- $20.3 million spent. VEIC PROVIDES NATIONAL AND INTERNATIONAL CONSULTING SERVICES TO UTILITIES, BUSINESSES, GOVERNMENT AGENCIES, MUNICIPALITIES, AND FOUNDATIONS. WE WORK WITH OUR CLIENTS TO DECARBONIZE THEIR ENERGY SYSTEMS THROUGH OUR FOUR CORE SERVICES: ENERGY EFFICIENCY, BUILDING DECARBONIZATION, TRANSPORTATION ELECTRIFICATION, AND MAKING ELECTRICITY GRIDS CLEAN AND FLEXIBLE. WE HELP OUR CLIENTS SAVE ENERGY, REDUCE GREENHOUSE GAS EMISSIONS, AND ADVANCE SOCIAL AND ECONOMIC EQUITY. IN 2024, 59% OF VEIC'S ORG-WIDE CONSULTING WORK HAD AN EXPLICIT FOCUS ON LOW-TO-MODERATE-INCOME COMMUNITIES. IN 2024, VEIC EXPENDED $9,383,100 IN FEDERAL GRANTS FUNDED BY THE CORONAVIRUS STATE AND LOCAL FISCAL RECOVERY FUNDS.VEIC HAD A NET LOSS FOR 2024 AND HAD BUDGETED FOR THIS NET LOSS IN ORDER TO SUPPORT MAKING INVESTMENTS TO SUPPORT FUTURE YEAR REVENUE GROWTH. THIS WAS IN LINE WITH VEIC'S STRATEGIC PLAN TO INCREASE IMPACT AND DELIVERY OF ITS MISSION OVER THE NEXT SEVERAL YEARS.
Source: Form 990 for the year ending December 31, 2024, filed with the Internal Revenue Service. Rating method 2026.2. How we rate
Legitimacy checks
Is it registered with the IRS? Passed.
Listed in the IRS master file of tax-exempt organizations as a 501(c)(3) charitable organization.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Has the IRS revoked its tax-exempt status? Passed.
Not on the IRS automatic revocation list.
Source: Automatic revocation of exemption list, Internal Revenue Service, file dated September 30, 2026.
Are donations tax-deductible? Passed.
On the IRS list of organizations eligible to receive tax-deductible contributions.
Source: Publication 78 data: organizations eligible for tax-deductible contributions, Internal Revenue Service, file dated September 10, 2026.
Is it keeping up with its IRS filings? Passed.
Most recent return on file covers the year ending December 2024.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
How long has it been tax-exempt? Passed.
Recognized by the IRS since September 1988.
Source: Exempt Organizations Business Master File, Internal Revenue Service, file dated September 7, 2026.
Is it in good standing with state regulators? Passed.
Not on California's list of charities barred from soliciting. Other states are not yet checked.
Source: May Not Operate or Solicit for Charitable Purposes list, California Attorney General, Registry of Charities and Fundraisers, file dated October 7, 2026.
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