Vermont Energy Investment Corporation (VEIC) is a nonprofit organization founded in 1986 and headquartered in Winooski, Vermont. The organization operates as a sustainable energy company providing high-impact energy solutions focused on decarbonizing buildings, transportation, and utility grids. VEIC employs approximately 280-426 staff members and works with leaders across the energy landscape including governments, utilities, foundations, and businesses across North America to create lasting change in clean energy adoption.
Financial Overview
From 2024 IRS Form 990-PF · View filing
Total Assets
$53.4M
+0.9% YoY
Annual Giving
$8.5M
+247.3% YoY
Grant Count
21
+75.0% YoY
Avg Grant Size
$406K
+98.5% YoY
Mission & Focus Areas
VEIC's mission is to generate the energy solutions the world needs and reduce the economic and environmental costs of energy consumption through cost-effective energy efficiency and renewable technologies. The organization's vision is "Healthy Planet, Thriving People."
Primary focus areas include:
- Energy Efficiency: Optimizing energy use and reducing energy burdens for low-income customers
- Building Decarbonization: Supporting the transition to low-carbon energy use through education, incentives, and workforce development
- Transportation Electrification: Advancing clean transportation solutions
- Grid Modernization: New approaches for a clean and flexible grid with demand management capabilities
- Technology Innovation: Developing pilots and programs that advance emerging technologies and innovative program models
Grantmaking
VEIC's grantmaking focuses on Education, Human Services, and Health Care, with typical awards ranging from $10,110 to $1,000,000. Total giving in 2024 was $8,524,334.
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Geographic Focus
Where this funder awards grants
VEIC operates primarily across North America, with significant presence in Vermont, the District of Columbia, and multiple states through the Efficiency Smart program (serving utilities in four states). The organization maintains offices in Winooski, Vermont and Burlington, Vermont.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
Assets & Revenue (2024)
- Total Assets: $53,392,034
- Total Revenue: $130,939,426
- Total Expenses: $131,141,340
- Total Giving: $8,524,334
Historical Financial Data (2023)
- Total Assets: $52.9 million
- Total Revenue: $123 million
- Total Expenses: $121 million
- Total Liabilities: $24 million
Earlier Data (2019)
- Total Revenue: $99,018,110
- Total Expenses: $96,107,411
- Net Assets: $15,685,010
Efficiency Vermont represented approximately 60% of total VEIC revenues in 2019.
| Metric | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Assets | $53,392,034 | $52,913,819 | $52,044,292 |
| Revenue | $130,939,426 | $123,099,830 | $108,745,667 |
| Expenses | $131,141,340 | $121,025,310 | $106,290,392 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $726,184 | $722,987 | $144,183 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2024
Grant Size Distribution
90 grants across all recorded years
Giving History
Grant recipients and amounts by year
No grants recorded for .
Leadership & Key People
Leadership team and compensation from IRS filings
Key executives include:
- Rebecca Foster: Chief Executive Officer
- Jennifer Wallace-brodeur: Managing Director, Business Development
- Lara Bonn: Managing Director, Enterprise Services
- Puja Vohra: Managing Director
- Elisabeth H: Chief People Officer
- Sharon Bay: Director, Project Management Office
- Kate Hunter: Director, Key Accounts
- Brian Picariello: Director, Consulting
- Sean Bleything: Business Operations Director
- Tony Pickett: Board Member
Compensation Overview
From 2024 IRS filing
From 2024 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| ELLEN ZUCKERMAN | CHAIR | 1 | $3,750 |
| OSWALDO ACOSTA | TREASURER | 1 | $3,000 |
| NANCY OWENS | VICE CHAIR | 1 | $2,750 |
| DIANNE DILLON-RIDGLEY | DIRECTOR | 1 | $2,000 |
| VINCENT VALDES | DIRECTOR | 1 | $2,000 |
| NICK RICHARDSON | DIRECTOR | 1 | $2,000 |
| CEDERICK ANTHONY PICKETT | SECRETARY | 1 | $2,000 |
| DALE BRYK | DIRECTOR | 1 | $2,000 |
| JACOB PARK | DIRECTOR | 1 | $2,000 |
| BRANDI COLANDER | DIRECTOR THROUGH SEP. 2024 | 1 | $1,500 |
| JANET BESSER | DIRECTOR | 1 | — |
| MERRIAN BORGESON | DIRECTOR | 1 | — |
| REBECCA FOSTER | CHIEF EXECUTIVE OFFICER | 37.5 | $372,517 |
| KATHERINE MEYERS | CHIEF FINANCIAL OFFICER | 37.5 | $274,920 |
| STEPHANIE PHILLIPS | CHIEF GENERAL COUNSEL | 37.5 | $186,999 |
| LOUIS HUTCHINSON | COO THROUGH NOV. 2024 | 37.5 | $249,507 |
| BEN BURDICK | INTERIM MANAGING DIRECTOR, DCSEU | 37.5 | $191,569 |
| PETER WALKE | MANAGING DIRECTOR, EFFICIENCY VT | 37.5 | $190,505 |
| ERNEST JOLLY | MAN. DIR., DCSEU THROUGH SEP. 2024 | 37.5 | $160,993 |
| LISA HARRIS | CHIEF PEOPLE OFFICER | 37.5 | $266,073 |
| BRIAN KEALOHA | CHIEF GROWTH AND IMPACT OFFICER | 37.5 | $253,635 |
| PIERRE VAN DER MERWE | CHIEF TECHNOLOGY OFFICER | 37.5 | $248,730 |
| MATTHEW DOOLEY | MAN. DIR., EN SERV/INT. COO A/O NOV | 37.5 | $243,190 |
| ANGELA JOHNSON | DIRECTOR, FINANCE, DCSEU | 37.5 | $204,658 |
Recent News & Activity
Recent developments and announcements
VEIC has been recognized for creating the "Efficiency Smart Power Plant" for American Municipal Power (AMP) members across six states. The organization received a $36 million grant for Efficiency Vermont operations. Additionally, VEIC has been involved in USDA-supported energy efficiency initiatives, including a $46 million USDA award to boost energy efficiency in Vermont and participation in USDA Rural Energy for America Program (REAP) grants supporting biomass and waste-to-energy technologies.
Vermont Energy Investment Corporation to Create \u201CEfficiency Smart Power\Subject Areas
Focus areas based on grantmaking activity
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Data last updated April 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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