Slipstream Group INC EIN 39-1356152

Slipstream Group INC

EIN  39-1356152 Public charity (501(c)(3)) Madison, WI Founded 1980
Form 990 (PDF) Compare with another nonprofit →
Verified accurate 8/6/26 · see original filing: IRS
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Size
$10–100M
What they do
Drives climate solutions for all people.
Leadership
Sandra Hall Henry · President & CEO · $230K
Money in and out
$41.1M revenue, $42.8M expenses
Bottom line
73% program efficiency

Drives climate solutions for all people. For fiscal year 2024 it reported $41.1M in revenue, $42.8M in expenses, and $12.2M in net assets.Pt I

Where the money goes · FY2024
Total revenue
$41.1M
Pt VIII · Ln 12
Total expenses
$42.8M
Pt IX · Ln 25
Net assets
$12.2M
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$1.8M
Where spending went · Part IX cols B–D
Program services $0.73 Management & general $0.23 Fundraising $0.04
Program efficiency
73%
of spending reaches programs▼ -5% vs prior filing year
Operating runway
3.8mo
months of highly liquid reserves at operating expense rate▼ -30% vs prior filing year
Surplus margin
-4%
revenue over expenses, this year▼ -43% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$41.1M
FY2024▼ -10%
Expenses
$42.8M
FY2024▼ -9%
Total assets
$32.1M
FY2024▼ -24%
Total liabilities
$19.9M
FY2024▼ -29%
Total revenue
$41.1M
Pt VIII · Ln 12
Total expenses
$42.8M
Pt IX · Ln 25
Net assets
$12.2M
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$1.8M
Total assetsPt X · Ln 16$32.1M
Program-expense ratioPt IX · col B73%
Voting members of governing bodyPt I · Ln 314
Independent voting membersPt I · Ln 414
Mission & Programs · Part III

Where the work happens

3 program services account for $27.8M of program spending, described in the organization's own filed words · FY2024.
01

Efficiency at Scale

We implement pilot and full-scale energy efficiency programs for utilities and governments. We specialize in programs that address underserved customers, like improving the energy efficiency of manufactured housing.

$20.4Mprogram expense
02

Emerging Technologies and Human Factors

Our research focuses on the discovery and testing of technology that drives down carbon emissions due to buildings. The research ranges from field testing of the energy performance of new technologies to pioneering approaches to grid-interactives efficient buildings.

$3.9Mprogram expense
03

Financing for a Low-Carbon Future

Slipstream provides financing programs to enable government and utility customers to complete energy improvements. Our core competencies include property assessed clean energy finance (pace) in the commercial sector, lending programs for home energy retrofits, and innovative financing to make it easier for low-income homeowners to…

$3.5Mprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CSlipstream Group INC
EINHdr · item D39-1356152
Principal addressHdr · item CMadison, WI
WebsiteHdr · item Jslipstreaminc.org
Year of formationHdr · item L1980
State of legal domicileHdr · item MWI
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEnvironment (C350)
Ruling yearIRS BMFJul 1980

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a14
Independent voting membersPt VI · Ln 1b14
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2Yes

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President & CEO
$230,247Pt VII · Sec A
VP Operations/CFO
$171,629Pt VII · Sec A
Chief Program Officer
$151,788Pt VII · Sec A
Advancement Officer
$144,820Pt VII · Sec A
VP of Research
$142,517Pt VII · Sec A
Director of Workforce Dev
$139,266Pt VII · Sec A
Director of Engineering
$138,648Pt VII · Sec A
General Counsel Mag Dir
$117,150Pt VII · Sec A

Sandra Hall Henry’s $230K as President & CEO is at the 42nd percentile of top reported officer pay among 324 $10–100M environment nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

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

NameFY2024FY2023FY2022FY2021FY2020
Sandra Hall Henry$230,247$232,384$84,536
Franklin Greb$146,204$207,539$185,705
Puja Vohra$156,939$150,605$190,655
Amanda Berg$64,882$156,602$183,470
Karen Weigert$177,935$174,507
Katrina Keller$171,629$141,925$17,520
Margaret Anderson$160,183$158,611
Heidi Gorrill$151,788$138,536

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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Statement of Revenue

Part VIII
Program service revenue$34.5M · 84%
Contributions & grants$5.7M · 14%
Investment income$767K · 2%
Program service revenue84%$34.5M
Contributions & grants14%$5.7M
Investment income2%$767K
Other revenue$5K
— government grantsLn 1e$5.4M
Total revenueLn 12$41.1M

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.73 Management & general $0.23 Fundraising $0.04
Program services73%$31.2M
Management & general23%$9.8M
Fundraising4%$1.8M
Total functional expensesLn 25$42.8M

Balance Sheet

Part X · end of year
CashLn 1$12.3M
Total assetsLn 16$32.1M
Total liabilitiesLn 26$19.9M
Total net assetsLn 32$12.2M
Months of cash on handcomputed3.5

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $13.6M · Operating expenses/yr $42.8M
3.8 months
Where the money goes
Program services
Program services $31.2M · Total expenses $42.8M
73%
Management & General
Management & general $9.8M · Total expenses $42.8M
23%
Fundraising
Fundraising $1.8M · Total expenses $42.8M
4%
Cost to raise $1
Fundraising expense (3-yr avg) $1.9M · Solicited contributions (3-yr avg) $373K
$5.08 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $5.7M · Total revenue $41.1M
14%
Government reliance
Government grants $5.4M · Total revenue $41.1M
13%
Earned-income share
Program service revenue $34.5M · Total revenue $41.1M
84%
Investment reliance
Investment income $767K · Total revenue $41.1M
+2%
Program self-sufficiency
Program service revenue $34.5M · Total expenses $42.8M
81%
Growth & trend
Revenue growth (YoY)
This year $41.1M · Prior year $45.8M
-10%
Revenue CAGR
FY2020 $50.3M · FY2024 $41.1M
-5%
Net-asset trend (YoY)
End of year $12.2M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $41.1M · Expenses $42.8M
-4%
Liabilities-to-Assets
Total liabilities — · Total assets $32.1M
Net-asset ratio
Net assets $12.2M · Total assets $32.1M
38%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $1.3M · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $32.1M
4%
People & payroll
Highest Reported Total Compensation
Individual Sandra Hall Henry · Reported title PRESIDENT & CEO · Highest reported compensation $230K · Total expenses $42.8M
1%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $15.8M · Total expenses $42.8M
37%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 73%
Overhead ratio 23%
Fundraising cost ratio 31%
Revenue growth -10%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · funders on record
Grants received · FY2024
See all 4 funders →

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$41.1M revenue · viewing · ⤓ 990 PDF
FY2023$45.8M revenue · ⤓ 990 PDF
FY2022$38.8M revenue · ⤓ 990 PDF
FY2021$48.3M revenue · ⤓ 990 PDF
FY2020$50.3M revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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