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Nreca Research

Tax-deductible

Arlington, VA501(c)(3)Since 2019Public & Societal Benefit EIN 84-2724646Revenue $11.4M in FY2024

On file with the IRS4301 Wilson Blvd, 22203-4419 · Arlington, VATax-exempt since Aug 2020Publicly supported charity — 170(b)(1)(A)(vi)

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The mission of Nreca Research is to engage in privately funded scientific Research activities focused on supporting, sustaining, and improving the electrical grid of the future.

501(c)(3) charity; gifts are tax-deductible.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
4 of 5
filings with a surplus
Average surplus $2K a year · under 1% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Named funders
1
named funder · $162K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.9M
100% of total assets
Concern: liabilities are 100% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$11.4M
-0.5% vs prior year
Spent
$11.4M
To programs
99%
Net assets
$0
By yearFY2020–FY2024
Revenue
$11.4M
FY2024▼ -0.5%
Tap a bar for its year
Revenue by fiscal year
FY2020$11.1M
FY2021$13.7M
FY2022$10.0M
FY2023$11.5M
FY2024$11.4M
Expenses
$11.4M
FY2024▼ -0.8%
Tap a bar for its year
Expenses by fiscal year
FY2020$11.1M
FY2021$13.7M
FY2022$10.0M
FY2023$11.5M
FY2024$11.4M
Net assets
$0
FY2024
Tap a bar for its year
Net assets by fiscal year
FY2020$0
FY2021$0
FY2022$0
FY2023$0
FY2024$0

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

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2020.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $11.3M Management & general 1% · $70K

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

11 people listed on the 990.

Part VII, Section A · reportable compensation
Digna Louis
Secretery/Treasurer
$0Pt VII · Sec A
Jeffrey Connor
Chieft Operating Officer
$0Pt VII · Sec A
Jim Matheson
President, CEO
$0Pt VII · Sec A
Angela Strickland
Vice President
$0Pt VII · Sec A
Jessica Healy
Asst. Secretary
$0Pt VII · Sec A
Carter Manucy
SR. Director, Cybersecurity
$0Pt VII · Sec A
Achol Deng
Principal Program Manager
$0Pt VII · Sec A
David Pinney
Principal Analytical Tools & Software Products
$0Pt VII · Sec A
See Nreca Research executive salaries →

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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

Improves the future electrical grid through privately funded scientific research.

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Provided by the organization

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3 programs · $9.0M · in their own filed words · FY2024
01

Research activities focused on improving cooperatives cybersecurity defensive measures to protect their cooperative and electrical infrastructure from cyber attacks and other malicious activities.

$3.5Mprogram expense
02

Research activities focused on improving member outreach and strategic initiatives

$3.0Mprogram expense
03

Research activities focused on improving data analytics, grid resilency and reliability

$2.4Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
University of PittsburghFY2024$162K
Total grants receivedfrom 1 funder$162K

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$11.4M
Ln 12
Fees for servicesLn 2g$7.8M
Gifts and grantsLn 1h$3.6M
Money outPt IX
$11.4M
Ln 25
Programscol B$11.3M
Managementcol C$70K
Owns and owesPt X
$0
net assets · Ln 32
Total assetsLn 16$2.9M
LiabilitiesLn 26$2.9M
PeoplePt VI, VII
11
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.6M
Government grantsLn 1e$3.6M
Fees for servicesLn 2g$7.8M
Gains on assetsLn 7−$11K
Total revenueLn 12$11.4M
Assets in detailPt X, end of year
Land, buildings, equipmentLn 10c$7K
Other assetsLn 15$0
Total assetsLn 16$2.9M
LiabilitiesLn 26$2.9M
Net assetsLn 32$0
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Land, buildings, equipmentLn 10c$23K$7K
Total assetsLn 16$2.9M$2.9M
LiabilitiesLn 26$2.9M$2.9M
Net assetsLn 32$0$0
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$2.8M$2.5M$308K
Other employee benefitsLn 9$884K$731K$154K
Legal feesLn 11b$1K$1K
Accounting feesLn 11c$21K$21K
Other fees for servicesLn 11g$4.3M$4.1M$131K$0
Office expensesLn 13$15K$2K$14K
Information technologyLn 14$428K$428K
OccupancyLn 16$198K$0$198K
TravelLn 17$369K$344K$25K
Conferences, conventions and meetingsLn 19$430K$429K$346
InterestLn 20$18K$18K
Depreciation, depletion and amortizationLn 22$25K$302$25K
InsuranceLn 23$21K$2K$19K
Other expenses (24a–d)Ln 24$2.3M$436K$1.9M
All other expensesLn 24e−$338K$2.8M−$3.1M$0
Total functional expensesLn 25$11.4M$11.3M$70K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $11.4M$11.4M$17K$0 990 PDF
FY2023 $11.5M$11.5M−$7K$0 990 PDF
FY2022 $10.0M$10.0M$0$0 990 PDF
FY2021 $13.7M$13.7M$0$0 990 PDF
FY2020 $11.1M$11.1M$0$0 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $11,429,821 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $4,233,604$3,638,757
I-9 Program service revenuePrior year $7,250,819$7,802,322
I-10 Investment incomePrior year $7,369−$11,258
I-11 Other revenue$0
I-12 Total revenuePrior year $11,491,792$11,429,821
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $3,917,508$3,645,098
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $7,581,325$7,767,484
I-18 Total expensesPrior year $11,498,833$11,412,582
I-19 Revenue less expensesPrior year −$7,041$17,239
Part VI · Governance 0 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $11,429,821 across 6 lines filed
Lines not itemized here account for $593,739 of total revenue; see the IRS return.
VIII-1e Government grants$3,638,757
VIII-1h Total contributions, gifts and grants$3,638,757
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $7,208,583$7,208,583
VIII-3 Investment incomeExcluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$11,258−$11,258
VIII-12 Total revenueRelated to mission $7,802,322 · Unrelated business $0 · Excluded from tax −$11,258$11,429,821
Part IX · Statement of functional expenses $11,412,582 across 15 lines filed
IX-7 Other salaries and wagesPrograms $2,453,242 · Management $307,728$2,760,970
IX-9 Other employee benefitsPrograms $730,513 · Management $153,615$884,128
IX-11b Legal feesManagement $1,229$1,229
IX-11c Accounting feesManagement $20,746$20,746
IX-11g Other fees for servicesPrograms $4,135,586 · Management $130,842 · Fundraising $0$4,266,428
IX-13 Office expensesPrograms $1,880 · Management $13,570$15,450
IX-14 Information technologyManagement $428,314$428,314
IX-16 OccupancyPrograms $0 · Management $197,910$197,910
IX-17 TravelPrograms $343,976 · Management $25,330$369,306
IX-19 Conferences, conventions and meetingsPrograms $429,304 · Management $346$429,650
IX-20 InterestManagement $17,813$17,813
IX-22 Depreciation, depletion and amortizationPrograms $302 · Management $24,932$25,234
IX-23 InsurancePrograms $2,132 · Management $18,780$20,912
IX-24 Other expenses (24a–d)Programs $436,186 · Management $1,876,488$2,312,674
IX-24e All other expensesPrograms $2,809,003 · Management −$3,147,185 · Fundraising $0−$338,182
IX-25 Total functional expensesPrograms $11,342,124 · Management $70,458 · Fundraising $0$11,412,582
Part X · Balance sheet $2,854,165 assets, 9 lines filed
X-4 Accounts receivableStart of year $2,855,134$2,847,187
X-10c Land, buildings and equipment, netStart of year $23,231$6,978
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $2,878,365$2,854,165
X-17 Accounts payable and accrued expensesStart of year $165,025$95,381
X-25 Other liabilitiesStart of year $2,713,340$2,758,784
X-26 Total liabilitiesStart of year $2,878,365$2,854,165
X-32 Total net assets or fund balancesStart of year $0$0
X-33 Total liabilities and net assetsStart of year $2,878,365$2,854,165
Part XI · Reconciliation of net assets $0 net assets at year end
XI-1 Total revenue$11,429,821
XI-2 Total expenses$11,412,582
XI-3 Revenue less expenses$17,239
XI-4 Net assets at start of year$0
XI-5 Net unrealized gains (losses) on investments−$17,239
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$0

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

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