Citizens Energy Corp

Not tax-deductible

Boston, MA501(c)(4)EIN 04-2691955Revenue $3.0M in FY2024

On file with the IRScitizensenergy.com2 Seaport Lane 5c, 02210-2001 · Boston, MATax-exempt since Nov 1980

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Citizens Energy corporation provides low-cost Energy services to low-income families in the u.s. By developing successful Energy projects and using the profits to fund assistance programs. Citizens Energy corporation exists to help make life's basic needs more accessible and affordable. Citizens Energy corporation has used revenues from commercial enterprises to channel hundreds of millions of dollars into charitable programs in the united states. Whether heating the homes of the elderly and poor in massachusetts, lowering the cost of prescription drugs for millions of americans, or providing low-cost solar electricity to low-income families through our community solar projects, Citizens Energy corporation creates social ventures as innovative as the businesses that finance them.

80¢ of each $1 spent went to programs.
Run by 3 volunteers and 26 employees.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(4)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $1.1M a year · 40% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
80%
of spending
Looks good: 80% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$425K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
6 mo
of spending, in cash
Looks good: 5.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $125K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$770K
0.6% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 4 voting members
Looks good: 3 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.0M
+13% vs prior year
Spent
$4.3M
To programs
80%
Net assets
$121.1M
By yearFY2020–FY2024
Revenue
$3.0M
FY2024▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$2.3M
FY2021$4.4M
FY2022$1.8M
FY2023$2.7M
FY2024$3.0M
Expenses
$4.3M
FY2024▼ -11%
Tap a bar for its year
Expenses by fiscal year
FY2020$3.2M
FY2021$3.6M
FY2022$3.9M
FY2023$4.8M
FY2024$4.3M
Net assets
$121.1M
FY2024▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$86.0M
FY2021$90.4M
FY2022$111.3M
FY2023$112.6M
FY2024$121.1M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Nov 1980.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

80 cents of each dollar spent went to programs.

Program services 80% · $3.4M Management & general 20% · $849K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

12 people listed on the 990; $425K paid to officers and key staff.

Part VII, Section A · reportable compensation
Director of Charitable Programs
$169,576Pt VII · Sec A
Director of Communications
$75,388Pt VII · Sec A
$42,442Pt VII · Sec A
$41,279Pt VII · Sec A
$32,205Pt VII · Sec A
$22,836Pt VII · Sec A
Exec Asst to Chair, CEO, CFO
$22,800Pt VII · Sec A
$6,000Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Kristina Perez$169,576$162,460$152,656$132,760$122,758
Peter F Smith$42,442$42,431$84,971$84,978$85,061
Brian O'Connor—$80,736$80,734$80,751$80,729
Nicole Malone$75,388————
Ernest J Panos$32,205$33,901$67,801$67,608$67,793
Ginette Trask$22,800$20,781$20,784$58,611$20,192
Timothy J Minogue$41,279$38,762$38,299$36,270$34,760
Joseph P Kennedy III$22,836$22,784———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides low-cost energy and prescription drugs to low-income families and the elderly.

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Provided by the organization

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3 programs · $1.9M · in their own filed words · FY2024
01

Citizens provides deeply discounted electricity credits to approximately 12,000 low-income ratepayers in the imperial irrigation district (iid), from its 39-MEGAWATT low-income community solar project citizens imperial solar, LLC commissioned in 2019.

$1.3Mprogram expense
02

In 2019, citizens began a program to provide increased access to the benefits of electric vehicle (ev) transportation to disadvantaged communities in san diego county by providing funding to purchase ev's and charging infrastructure to non-profit organizations that provide services to low-income families.

$262Kprogram expense
03

Citizens Energy Shelter Winter Assistance Program

Since 1984, citizens energy has contributed grants to over 125 emergency shelters in massachusetts and rhode island to help cover their energy costs during the winter season.

$256Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2021
Total grants receivedfrom 1 funder$125K
Grants paid · 40 grants · $11.0M · 2020–2024
Unitemized GrantFY2024$1,332,479
San Diego Canyonlands INCCA · FY2024$262,261
Unitemized GrantFY2024$183,454
Mashpee Wampanoag TribeFY2024$135,915
Valerie FundNJ · FY2024$10,000
Saint Raphael ChurchCA · FY2024$10,000
Unitemized GrantFY2023$1,544,249
The Neighborhood House AssnCA · FY2023$511,656
Unitemized GrantFY2023$126,922
See all 40 grants →

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$3.0M
Ln 12
Gifts and grantsLn 1h$2.5M
Investment incomeLn 3$296K
Other incomeLn 4–11$174K
Money outPt IX
$4.3M
Ln 25
Programscol B$3.4M
Managementcol C$849K
Owns and owesPt X
$121.1M
net assets · Ln 32
Cash and savingsLn 1–2$2.1M
Total assetsLn 16$121.9M
LiabilitiesLn 26$770K
PeoplePt VI, VII
12
listed · VII A
PaidVII A10
Voting boardVI 1a4
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.5M
Investment incomeLn 3$296K
Other incomeLn 4–11$174K
Gains on assetsLn 7−$151K
Total revenueLn 12$3.0M
Assets in detailPt X, end of year
SavingsLn 2$2.1M
Cash and savings togetherLn 1–2$2.1M
InvestmentsLn 11–13$17.0M
Other assetsLn 15$101.9M
Total assetsLn 16$121.9M
LiabilitiesLn 26$770K
Net assetsLn 32$121.1M
OperationsPt I, VI
EmployeesI 526
VolunteersI 63
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$2.4M$2.1M
InvestmentsLn 11–13$18.2M$17.0M
Total assetsLn 16$113.3M$121.9M
LiabilitiesLn 26$643K$770K
Net assetsLn 32$112.6M$121.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.1M$1.1M
Grants to domestic individualsLn 2$1.5M$1.5M
Pay of current officers, directors and key staffLn 5$133K$133K
Other salaries and wagesLn 7$648K$416K$232K
Pension plan contributionsLn 8$26K$26K
Other employee benefitsLn 9$230K$162K$68K
Payroll taxesLn 10$7K$7K
Legal feesLn 11b$10K$10K
Accounting feesLn 11c$170K$170K
Other fees for servicesLn 11g$8K$1K$6K
Advertising and promotionLn 12$58K$28K$30K
Office expensesLn 13$104K$92K$13K
Information technologyLn 14$29K$29K
OccupancyLn 16$151K$73K$78K
TravelLn 17$24K$8K$17K
InsuranceLn 23$41K$41K
Other expenses (24a–d)Ln 24$519$519
Total functional expensesLn 25$4.3M$3.4M$849K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $3.0M$4.3M−$1.3M$121.1M 990 PDF
FY2023 $2.7M$4.8M−$2.2M$112.6M 990 PDF
FY2022 $1.8M$3.9M−$2.1M$111.3M 990 PDF
FY2021 $4.4M$3.6M$796K$90.4M 990 PDF
FY2020 $2.3M$3.2M−$923K$86.0M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $2,987,263 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,020,743$2,516,677
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $355,141$296,346
I-11 Other revenuePrior year $276,279$174,240
I-12 Total revenuePrior year $2,652,163$2,987,263
I-13 Grants and similar amounts paidPrior year $3,231,671$2,635,482
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $912,995$1,043,672
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $660,206$595,476
I-18 Total expensesPrior year $4,804,872$4,274,630
I-19 Revenue less expensesPrior year −$2,152,709−$1,287,367
Part VI · Governance 3 of 4 board members independent, 3 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members3
VI-2 Family or business relationship among officers or directorsYes
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-12a Written conflict of interest policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,987,263 across 7 lines filed
Lines not itemized here account for $90,000 of total revenue; see the IRS return.
VIII-1d Related organizations$1,829,521
VIII-1f All other contributions, gifts and grants$687,156
VIII-1h Total contributions, gifts and grants$2,516,677
VIII-3 Investment incomeExcluded from tax $446,960$446,960
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$150,614−$150,614
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $84,240$84,240
VIII-12 Total revenueRelated to mission $84,240 · Unrelated business $0 · Excluded from tax $386,346$2,987,263
Part IX · Statement of functional expenses $4,274,630 across 17 lines filed
IX-1 Grants to domestic organizationsPrograms $1,119,549$1,119,549
IX-2 Grants to domestic individualsPrograms $1,515,933$1,515,933
IX-5 Pay of current officers, directors and key staffManagement $132,875$132,875
IX-7 Other salaries and wagesPrograms $415,909 · Management $231,611$647,520
IX-8 Pension plan contributionsManagement $26,259$26,259
IX-9 Other employee benefitsPrograms $161,865 · Management $67,825$229,690
IX-10 Payroll taxesManagement $7,328$7,328
IX-11b Legal feesPrograms $9,795$9,795
IX-11c Accounting feesManagement $170,000$170,000
IX-11g Other fees for servicesPrograms $1,300 · Management $6,283$7,583
IX-12 Advertising and promotionPrograms $28,288 · Management $29,944$58,232
IX-13 Office expensesPrograms $91,741 · Management $12,746$104,487
IX-14 Information technologyManagement $28,503$28,503
IX-16 OccupancyPrograms $73,332 · Management $78,150$151,482
IX-17 TravelPrograms $7,535 · Management $16,680$24,215
IX-23 InsuranceManagement $40,660$40,660
IX-24 Other expenses (24a–d)Management $519$519
IX-25 Total functional expensesPrograms $3,425,247 · Management $849,383 · Fundraising $0$4,274,630
Part X · Balance sheet $121,876,306 assets, 12 lines filed
X-2 Savings and temporary cash investmentsStart of year $2,438,481$2,073,453
X-4 Accounts receivableStart of year $179,047$847,954
X-9 Prepaid expenses and deferred chargesStart of year $148,031$136,799
X-11 Publicly traded securitiesStart of year $18,165,872$16,964,757
X-15 Other assetsStart of year $92,355,462$101,853,343
X-16 Total assetsStart of year $113,286,893$121,876,306
X-17 Accounts payable and accrued expensesStart of year $643,390$769,751
X-26 Total liabilitiesStart of year $643,390$769,751
X-27 Net assets without donor restrictionsStart of year $110,324,751$119,111,893
X-28 Net assets with donor restrictionsStart of year $2,318,752$1,994,662
X-32 Total net assets or fund balancesStart of year $112,643,503$121,106,555
X-33 Total liabilities and net assetsStart of year $113,286,893$121,876,306
Part XI · Reconciliation of net assets $121,106,555 net assets at year end
XI-1 Total revenue$2,987,263
XI-2 Total expenses$4,274,630
XI-3 Revenue less expenses−$1,287,367
XI-4 Net assets at start of year$112,643,503
XI-5 Net unrealized gains (losses) on investments$252,538
XI-9 Other changes in net assets$9,497,881
XI-10 Net assets at end of year$121,106,555

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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