ISO NEW ENGLAND INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- ISO NEW ENGLAND INC (EIN 04-3372500)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-08-29
- IRS object ID
- 202412429349301016
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
- Return header
- Form 990
- Schedule A
- Schedule C
- Schedule D
- Schedule I
- Schedule J
- Schedule K
- Schedule L
- Schedule O
- Schedule R
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-08-29T10:08:46-05:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 135565207 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | KPMG LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 60 SOUTH STREET TWO FINANCIAL | AddressLine1Txt |
| Address Line2 | CENTER | AddressLine2Txt |
| City | BOSTON | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 02111 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 043372500 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ISO NEW ENGLAND INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | ISON | BusinessNameControlTxt |
| Phone | 4135354000 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE SULLIVAN ROAD | AddressLine1Txt |
| City | HOLYOKE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01040 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ROBERT C LUDLOW | PersonNm |
| Person Title | VP, CHIEF FIN'L AND COMPL OFFI | PersonTitleTxt |
| Phone | 4135354000 | PhoneNum |
| Signature | 2024-08-28 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | ZELJKO POPOVIC | PreparerPersonNm |
| PTIN | P01795951 | PTIN |
| Phone | 6179881000 | PhoneNum |
| Preparation | 2024-08-05 | PreparationDt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-08-08 14:25:15Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | GORDON VAN WELIE | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE SULLIVAN ROAD | AddressLine1Txt |
| City | HOLYOKE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01040 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $235,600,056 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c3 | Yes (X) | Organization501c3Ind |
| Website Address | WWW.ISO-NE.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1997 | FormationYr |
| Legal Domicile State | DE | LegalDomicileStateCd |
| Activity Or Mission | THE CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES INCLUDING THE FOLLOWING: TO (I) MAINTAIN THE RELIABILITY OF THE BULK POWER AND TRANSMISSION SYSTEM IN NEW ENGLAND BY, AMONGST OTHER FUNCTIONS, EXERCISING OPERATIONAL AUTHORITY OVER THE BULK TRANSMISSION FACILITIES, (II) ADMINISTER AND SEEK TO ENHANCE SUSTAINABLE, COMPETITIVE AND EFFICIENT ENERGY MARKETS, AND (III) PROVIDE NON-DISCRIMINATORY, OPEN-ACCESS TRANSMISSION SERVICE. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 705 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $209,827,910 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $233,806,868 | CYProgramServiceRevenueAmt |
| PY Investment Income | $985,488 | PYInvestmentIncomeAmt |
| CY Investment Income | $1,793,188 | CYInvestmentIncomeAmt |
| PY Other Revenue | $0 | PYOtherRevenueAmt |
| CY Other Revenue | $0 | CYOtherRevenueAmt |
| PY Total Revenue | $210,813,398 | PYTotalRevenueAmt |
| CY Total Revenue | $235,600,056 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $17,900 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $13,500 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $127,162,889 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $139,985,650 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $83,632,609 | PYOtherExpensesAmt |
| CY Other Expenses | $95,600,906 | CYOtherExpensesAmt |
| PY Total Expenses | $210,813,398 | PYTotalExpensesAmt |
| CY Total Expenses | $235,600,056 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $0 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $0 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $732,557,047 | TotalAssetsBOYAmt |
| Total Assets EOY | $513,103,203 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $732,557,047 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $513,103,203 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $0 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $0 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE CORPORATION IS ORGANIZED AND OPERATED EXCLUSIVELY FOR CHARITABLE PURPOSES INCLUDING THE FOLLOWING: TO (I) MAINTAIN THE RELIABILITY OF THE BULK POWER AND TRANSMISSION SYSTEM IN NEW ENGLAND BY, AMONG OTHER FUNCTIONS, EXERCISING OPERATIONAL AUTHORITY OVER THE BULK TRANSMISSION FACILITIES, (II) ADMINISTER AND SEEK TO ENHANCE SUSTAINABLE, COMPETITIVE AND EFFICIENT ENERGY MARKETS, AND (III) PROVIDE NON-DISCRIMINATORY, OPEN-ACCESS TRANSMISSION SERVICE. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Expense | $104,980,949 | ExpenseAmt |
| Revenue | $116,539,145 | RevenueAmt |
| Desc | ISO NEW ENGLAND INC. (ISO-NE) IS THE NOT-FOR-PROFIT ORGANIZATION AUTHORIZED BY THE FEDERAL GOVERNMENT TO PERFORM THREE CRITICAL ACTIVITIES TO ENSURE THE RELIABLE SUPPLY OF ELECTRICITY THROUGHOUT NEW ENGLAND. THROUGH ITS FIRST ACTIVITY, ENERGY ADMINISTRATION, ISO-NE ENSURES THE CONSTANT AVAILABILITY OF COMPETITIVELY PRICED ELECTRICITY FOR THE REGION'S 15.1 MILLION RESIDENTS BY DESIGNING, REFINING, AND ADMINISTERING, IN A FAIR AND UNBIASED MANNER, THE REGION'S WHOLESALE ELECTRICITY MARKETS. DURING 2023, ISO-NE WAS RESPONSIBLE FOR THE FAIR ADMINISTRATION OF APPROXIMATELY $6 BILLION OF MARKET TRANSACTIONS. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $63,746,753 | ExpenseAmt |
| Grant | $13,500 | GrantAmt |
| Revenue | $70,764,293 | RevenueAmt |
| Desc | THROUGH ITS SECOND ACTIVITY, RELIABILITY ADMINISTRATION, ISO-NE ENSURES THE RELIABLE DAY-TO-DAY OPERATION OF THE REGION'S HIGH VOLTAGE TRANSMISSION SYSTEM. AMONG OTHER ACTIVITIES, THIS INVOLVES: (I) COORDINATING THE OPERATION OF THE REGION'S MORE THAN 350 DISPATCHABLE POWER PLANTS AND 9,000 MILES OF HIGH VOLTAGE TRANSMISSION LINES; (II) MANAGING THE MOVEMENT OF HIGH-VOLTAGE ELECTRICITY INTO, WITHIN, AND OUT OF NEW ENGLAND; (III) ENSURING THAT THE SIX-STATE NEW ENGLAND REGION HAS THE POWER SYSTEM RESOURCES NECESSARY TO MEET CONSUMER DEMAND FOR ELECTRICITY AND FEDERALLY-MANDATED RELIABILITY REQUIREMENTS; (IV) COORDINATING HOW TRANSMISSION LINES, GENERATION, AND OTHER RESOURCES CONNECT TO AND OPERATE ON THE POWER GRID RELIABLY; AND (V), WORKING WITH THE INDUSTRY TO DEVELOP TRANSMISSION INFRASTRUCTURE SOLUTIONS THAT ARE ESSENTIAL FOR MAINTAINING POWER SYSTEM RELIABILITY. DURING 2023 ISO-NE COORDINATED THE GENERATION AND TRANSMISSION OF THE APPROXIMATELY 114,700 GIGAWATT-HOURS OF POWER CONSUMED IN THE REGION. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Expense | $43,055,531 | ExpenseAmt |
| Revenue | $47,808,405 | RevenueAmt |
| Desc | THROUGH ITS THIRD ACTIVITY, SCHEDULING SERVICES, ISO-NE FORECASTS AND SCHEDULES THE ELECTRICITY NEEDED IN THE REGION FOR EVERY SECOND OF EVERY DAY AND ENSURES THERE IS ENOUGH ELECTRICITY GENERATED TO MEET DEMAND AS WELL AS RESOURCES NEEDED TO MAINTAIN STRINGENT RELIABILITY CRITERIA. IN CONDUCTING THIS ACTIVITY, ISO-NE: (I) MONITORS THE FLOW OF ELECTRICITY INTO, OUT OF, AND OVER NEW ENGLAND'S HIGH-VOLTAGE TRANSMISSION SYSTEM AND (II) SCHEDULES HUNDREDS OF DIVERSE POWER RESOURCES AND TRANSMISSION COMPONENTS TO SUPPLY JUST THE RIGHT AMOUNT OF ELECTRICITY TO MEET THE REGION'S DEMAND AND REQUIRED RESERVE MARGIN. ISO-NE IS RESPONSIBLE FOR ENSURING THAT THE GRID CAN WITHSTAND THE SUDDEN LOSS OF A POWER PLANT OR TRANSMISSION EQUIPMENT CAUSED BY WEATHER, MECHANICAL FAILURE, OR OTHER TRIGGERS. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Expenses | $211,783,233 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | Yes (1) | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Lobbying Activities | Yes (1) | LobbyingActivitiesInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | Yes (1) | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | Yes (1) | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | Yes (1) | TaxExemptBondsInd |
| Invest Tax Exempt Bonds | 0 | InvestTaxExemptBondsInd |
| Escrow Account | 0 | EscrowAccountInd |
| On Behalf Of Issuer | 0 | OnBehalfOfIssuerInd |
| Engaged In Excess Benefit Trans | 0 | EngagedInExcessBenefitTransInd |
| PY Excess Benefit Trans | 0 | PYExcessBenefitTransInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | Yes (1) | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Trnsfr Exmpt Non Chrtbl Rltd Org | Yes (1) | TrnsfrExmptNonChrtblRltdOrgInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 85 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 705 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Quid Pro Quo Contributions | 0 | QuidProQuoContributionsInd |
| Form8282 Property Disposed Of | 0 | Form8282PropertyDisposedOfInd |
| Rcv Fnds To Pay Prsnl Bnft Cntrct | 0 | RcvFndsToPayPrsnlBnftCntrctInd |
| Pay Premiums Prsnl Bnft Cntrct | 0 | PayPremiumsPrsnlBnftCntrctInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | Yes (1) | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | 0 | MembersOrStockholdersInd |
| Election Of Board Members | 0 | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | Yes (1) | InvestmentInJointVentureInd |
| Written Policy Or Procedure | 0 | WrittenPolicyOrProcedureInd |
| States Where Copy Of Return Is Fld | MA | StatesWhereCopyOfReturnIsFldCd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | ROBERT C LUDLOW | PersonNm |
| Phone | 4135354014 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE SULLIVAN ROAD | AddressLine1Txt |
| City | HOLYOKE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01040 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (36 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | OfficerOfficerInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| CHERYL LAFLEUR | ||||||||
| CHAIR, BOARD OF DIRECTORS | 8.00 | Yes (X) | $165,750 | $0 | $0 | |||
| CAREN ANDERS | ||||||||
| DIRECTOR | 8.00 | Yes (X) | $146,750 | $0 | $0 | |||
| BROOK M COLANGELO | ||||||||
| DIRECTOR | 7.00 | Yes (X) | $149,250 | $0 | $0 | |||
| STEVEN B CORNELI | ||||||||
| DIRECTOR | 6.00 | Yes (X) | $140,250 | $0 | $0 | |||
| MICHAEL J CURRAN | ||||||||
| DIRECTOR | 8.00 | Yes (X) | $151,000 | $0 | $0 | |||
| ROBERTO R DENIS | ||||||||
| DIRECTOR (THROUGH 9/30/23) | 8.00 | Yes (X) | $99,250 | $0 | $0 | |||
| CATHERINE FLAX | ||||||||
| DIRECTOR | 6.00 | Yes (X) | $135,750 | $0 | $0 | |||
| CRAIG IVEY | ||||||||
| DIRECTOR (BEGINNING 10/1/23) | 4.00 | Yes (X) | $47,250 | $0 | $0 | |||
| MARK VANNOY | ||||||||
| DIRECTOR | 7.00 | Yes (X) | $141,500 | $0 | $0 | |||
| MELVIN G WILLIAMS JR | ||||||||
| DIRECTOR | 6.00 | Yes (X) | $137,750 | $0 | $0 | |||
| GORDON VAN WELIE | ||||||||
| PRESIDENT & CHIEF EXECUTIVE OFFICER | 45.00 | $1,883,859 | $0 | $892,902 | Yes (X) | |||
| VAMSI K CHADALAVADA | ||||||||
| EXEC. VP & CHIEF OPERATING OFFICER | 45.00 | $1,449,836 | $0 | $756,020 | Yes (X) | |||
| ROBERT C LUDLOW | ||||||||
| VP, CHIEF FINANCIAL & COMP. OFF. | 45.00 | $782,546 | $0 | $360,284 | Yes (X) | |||
| MATTHEW W WHITE | ||||||||
| VP, MARKET DEV. & CHIEF ECON. | 45.00 | $689,186 | $0 | $139,626 | Yes (X) | |||
| PETER T BRANDIEN | ||||||||
| VP, SYSTEM OPS. & MARKET ADMIN. | 45.00 | $702,339 | $0 | $346,140 | Yes (X) | |||
| KATHLEEN DECASTRO | ||||||||
| VP, HR & CHIEF PEOPLE DIV. OFF. | 45.00 | $456,319 | $0 | $194,424 | Yes (X) | |||
| ROBERT G ETHIER | ||||||||
| VP, SYSTEM PLANNING | 45.00 | $535,608 | $0 | $280,093 | Yes (X) | |||
| ANNE C GEORGE | ||||||||
| VP, CHIEF EXT AFFAIRS & COMM. OFF. | 45.00 | $539,504 | $0 | $253,320 | Yes (X) | |||
| MARIA A GULLUNI | ||||||||
| VP, GEN. COUNSEL & CORP. SEC. | 45.00 | $619,544 | $0 | $275,366 | Yes (X) | |||
| LORRAINE M BRADY | ||||||||
| SR. CORP. ADMIN. & ASST. SEC. | 40.00 | $115,931 | $0 | $100,362 | Yes (X) | |||
| MARK G KARL | ||||||||
| VP, MARKET DEV. & SETTLEMENTS | 45.00 | $656,988 | $0 | $224,835 | Yes (X) | |||
| RUDOLF A PAWUL | ||||||||
| VP, INFO. & CYBER SEC. SVCS. | 45.00 | $424,942 | $0 | $266,937 | Yes (X) | |||
| M DAVID HAMEEDY | ||||||||
| DIRECTOR, PROGRAM MGMT. OFFICE | 40.00 | $341,165 | $0 | $242,693 | Yes (X) | |||
| MATTHEW F GOLDBERG | ||||||||
| DIRECTOR, STRAT., RISK & OPS. COMM. | 41.00 | $376,660 | $0 | $150,424 | Yes (X) | |||
| MICHAEL N TANIWHA | ||||||||
| IT DIR., INFR. & ENTRPR. SUPP. | 44.00 | $361,558 | $0 | $191,650 | Yes (X) | |||
| SHANNON L CAREY | ||||||||
| DIRECTOR, MKT. ANALYSIS & STLMNT. | 41.00 | $335,902 | $0 | $183,544 | Yes (X) | |||
| BRENT OBERLIN | ||||||||
| DIRECTOR, TRANSMISSION PLANNING | 45.00 | $294,809 | $0 | $133,292 | Yes (X) | |||
| DENNIS G ROBINSON | ||||||||
| DIRECTOR, MARKET ADMIN. & AUCTIONS | 41.00 | $321,405 | $0 | $265,681 | Yes (X) | |||
| ALAN F MCBRIDE | ||||||||
| DIRECTOR, TRANS. SVCS. & RESC. QUAL. | 44.00 | $286,531 | $0 | $127,511 | Yes (X) | |||
| ALBERT EVANS | ||||||||
| DIRECTOR, CYBER SEC. & COMPL. | 40.00 | $388,661 | $0 | $37,550 | Yes (X) | |||
| DAVID NAUGHTON | ||||||||
| EXEC. DIR., MKT. MONITORING | 40.00 | $321,316 | $0 | $108,497 | Yes (X) | |||
| ELLEN FOLEY | ||||||||
| DIRECTOR, CORP. MEDIA & WEB COMM. | 40.00 | $330,233 | $0 | $228,138 | Yes (X) | |||
| CHRISTOPHER NOLAN | ||||||||
| DIRECTOR, MARKET & CREDIT RISK | 42.00 | $475,128 | $0 | $64,625 | Yes (X) | |||
| TONGXIN ZHENG | ||||||||
| DIRECTOR, ADVANCED TECH SOLUTIONS | 44.00 | $334,058 | $0 | $152,004 | Yes (X) | |||
| GREGG BRADLEY | ||||||||
| MANAGER, MARKET MONITORING | 40.00 | $359,620 | $0 | $57,690 | Yes (X) | |||
| JOHN DILORETO | ||||||||
| DIRECTOR, INTERNAL AUDIT | 40.00 | $334,542 | $0 | $38,517 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $15,032,690 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $6,072,125 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 504 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| GE ENERGY MANAGEMENT SERVICE | |||||
| 4200 WILDWOOD PARKWAY | ATLANTA | GA | 30339 | ENERGY MANAGEMENT SYSTEM | $10,271,963 |
| MITSUBISHI ELECTRIC POWER PRODUCTS INC | |||||
| 530 KEYSTONE DRIVE | WARRENDALE | PA | 15086 | POWER SYSTEM CONSULTING | $5,194,260 |
| SIEMENS INDUSTRY INC | |||||
| 100 TECHNOLOGY DRIVE | ALPHARETTA | GA | 30005 | POWER SYSTEM CONSULTING | $2,620,444 |
| RLC ENGINEERING LLC | |||||
| 267 WHITTEN DRIVE | HALLOWELL | ME | 04347 | ENGINEERING SERVICES | $2,072,351 |
| CAPGEMINI AMERICA INC | |||||
| 79 5TH AVE | NEW YORK | NY | 10003 | INFORMATION TECHNOLOGY | $1,620,332 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 76 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| ENERGY ADMIN. SERVICES | 221000 | $115,863,821 | $115,863,821 |
| RELIABILITY ADMIN. SVC | 221000 | $70,415,864 | $70,415,864 |
| SCH. SYS. CONT. & DISP | 221000 | $47,527,183 | $47,527,183 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $233,806,868 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,793,188 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,304,975 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $488,213 | ExclusionAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $235,600,056 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $235,111,843 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $488,213 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $13,500 | TotalAmt |
| Program Services | $13,500 | ProgramServicesAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $16,914,505 | TotalAmt |
| Program Services | $11,255,476 | ProgramServicesAmt |
| Management And General | $5,659,029 | ManagementAndGeneralAmt |
Comp Disqual Persons CompDisqualPersonsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $257,276 | TotalAmt |
| Program Services | $257,276 | ProgramServicesAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $90,279,092 | TotalAmt |
| Program Services | $81,251,183 | ProgramServicesAmt |
| Management And General | $9,027,909 | ManagementAndGeneralAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $14,424,104 | TotalAmt |
| Program Services | $12,981,694 | ProgramServicesAmt |
| Management And General | $1,442,410 | ManagementAndGeneralAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,346,191 | TotalAmt |
| Program Services | $10,140,465 | ProgramServicesAmt |
| Management And General | $1,205,726 | ManagementAndGeneralAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,764,482 | TotalAmt |
| Program Services | $6,088,034 | ProgramServicesAmt |
| Management And General | $676,448 | ManagementAndGeneralAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,228,056 | TotalAmt |
| Program Services | $606,813 | ProgramServicesAmt |
| Management And General | $621,243 | ManagementAndGeneralAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $735,376 | TotalAmt |
| Program Services | $515,076 | ProgramServicesAmt |
| Management And General | $220,300 | ManagementAndGeneralAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $187,066 | TotalAmt |
| Program Services | $168,359 | ProgramServicesAmt |
| Management And General | $18,707 | ManagementAndGeneralAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $19,349,624 | TotalAmt |
| Program Services | $17,444,468 | ProgramServicesAmt |
| Management And General | $1,905,156 | ManagementAndGeneralAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,343,996 | TotalAmt |
| Program Services | $1,972,954 | ProgramServicesAmt |
| Management And General | $371,042 | ManagementAndGeneralAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $22,145,598 | TotalAmt |
| Program Services | $21,000,643 | ProgramServicesAmt |
| Management And General | $1,144,955 | ManagementAndGeneralAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $7,547,567 | TotalAmt |
| Program Services | $6,990,746 | ProgramServicesAmt |
| Management And General | $556,821 | ManagementAndGeneralAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $802,854 | TotalAmt |
| Program Services | $646,999 | ProgramServicesAmt |
| Management And General | $155,855 | ManagementAndGeneralAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $647,902 | TotalAmt |
| Program Services | $528,868 | ProgramServicesAmt |
| Management And General | $119,034 | ManagementAndGeneralAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,177,708 | TotalAmt |
| Program Services | $1,177,708 | ProgramServicesAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $30,034,229 | TotalAmt |
| Program Services | $29,852,433 | ProgramServicesAmt |
| Management And General | $181,796 | ManagementAndGeneralAmt |
Insurance InsuranceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $373,940 | TotalAmt |
| Program Services | $248,832 | ProgramServicesAmt |
| Management And General | $125,108 | ManagementAndGeneralAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt | Program ServicesProgramServicesAmt | Management And GeneralManagementAndGeneralAmt |
|---|---|---|---|
| NORTH AMERICAN ELECTRIC | $7,107,173 | $7,107,173 | |
| DUES & SUBSCRIPTIONS | $1,498,504 | $1,138,065 | $360,439 |
| RECRUITING/ADVERTISING | $158,591 | $142,732 | $15,859 |
| NORTHEAST POWER COORD. | $153,806 | $153,806 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $108,916 | TotalAmt |
| Program Services | $99,930 | ProgramServicesAmt |
| Management And General | $8,986 | ManagementAndGeneralAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $235,600,056 | TotalAmt |
| Program Services | $211,783,233 | ProgramServicesAmt |
| Management And General | $23,816,823 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,413 | BOYAmt |
| EOY | $4,413 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $178,311,998 | BOYAmt |
| EOY | $70,007,375 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,283,250 | BOYAmt |
| EOY | $34,120,967 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $34,860,035 | BOYAmt |
| EOY | $31,421,723 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $493,621,363 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $383,962,727 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $106,724,670 | BOYAmt |
| EOY | $109,658,636 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $378,372,681 | BOYAmt |
| EOY | $267,890,089 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $732,557,047 | BOYAmt |
| EOY | $513,103,203 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $47,186,401 | BOYAmt |
| EOY | $43,714,720 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $50,342,874 | BOYAmt |
| EOY | $47,662,266 | EOYAmt |
Tax Exempt Bond Liabilities TaxExemptBondLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $39,726,228 | BOYAmt |
| EOY | $36,560,989 | EOYAmt |
Escrow Account Liability EscrowAccountLiabilityGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $519,780,799 | BOYAmt |
| EOY | $317,435,036 | EOYAmt |
Unsecured Notes Loans Payable UnsecuredNotesLoansPayableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $49,993,735 | BOYAmt |
| EOY | $49,998,177 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $25,527,010 | BOYAmt |
| EOY | $17,732,015 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $732,557,047 | BOYAmt |
| EOY | $513,103,203 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $0 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $732,557,047 | BOYAmt |
| EOY | $513,103,203 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Reconcilation Revenue Expnss | $0 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | $0 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Separate Basis Fincl Stmt | Yes (X) | SeparateBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule A IRS990ScheduleA
| Field | Value | IRS element (for citing) |
|---|---|---|
| Publicly Supported Org509a2 | Yes (X) | PubliclySupportedOrg509a2Ind |
Gross Receipts Admissions GrossReceiptsAdmissionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $193,969,455 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $195,585,357 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $201,634,657 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $210,614,772 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $235,111,843 | CurrentTaxYearAmt |
| Total | $1,036,916,084 | TotalAmt |
Total509 Total509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $193,969,455 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $195,585,357 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $201,634,657 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $210,614,772 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $235,111,843 | CurrentTaxYearAmt |
| Total | $1,036,916,084 | TotalAmt |
Amounts Rcvd Dsqlfy Person AmountsRcvdDsqlfyPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $0 | TotalAmt |
Substantial Contributors Amt SubstantialContributorsAmtGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $95,503,479 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $100,011,426 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $98,226,088 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $105,037,327 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $115,237,692 | CurrentTaxYearAmt |
| Total | $514,016,012 | TotalAmt |
Subst And Dsqlfy Prsns Tot SubstAndDsqlfyPrsnsTotGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $95,503,479 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $100,011,426 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $98,226,088 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $105,037,327 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $115,237,692 | CurrentTaxYearAmt |
| Total | $514,016,012 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support Total509 | $522,900,072 | PublicSupportTotal509Amt |
Gross Investment Income509 GrossInvestmentIncome509Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $297,971 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $57,999 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $50,902 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $197,151 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $488,213 | CurrentTaxYearAmt |
| Total | $1,092,236 | TotalAmt |
Investment Income And UBTI InvestmentIncomeAndUBTIGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $297,971 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $57,999 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $50,902 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $197,151 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $488,213 | CurrentTaxYearAmt |
| Total | $1,092,236 | TotalAmt |
Total Support Calendar Year TotalSupportCalendarYearGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Tax Year Minus4 Years | $194,267,426 | CurrentTaxYearMinus4YearsAmt |
| Current Tax Year Minus3 Years | $195,643,356 | CurrentTaxYearMinus3YearsAmt |
| Current Tax Year Minus2 Years | $201,685,559 | CurrentTaxYearMinus2YearsAmt |
| Current Tax Year Minus1 Year | $210,811,923 | CurrentTaxYearMinus1YearAmt |
| Current Tax Year | $235,600,056 | CurrentTaxYearAmt |
| Total | $1,038,008,320 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Public Support CY509 | 0.50380 | PublicSupportCY509Pct |
| Public Support PY509 | 0.50850 | PublicSupportPY509Pct |
| Investment Income CY | 0.00110 | InvestmentIncomeCYPct |
| Investment Income PY | 0.00090 | InvestmentIncomePYPct |
| Thirty Thr Pct Suprt Tests CY509 | Yes (X) | ThirtyThrPctSuprtTestsCY509Ind |
Schedule C IRS990ScheduleC
Other Exempt Purpose Expend OtherExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $211,783,233 | FilingOrganizationsTotalAmt |
Total Exempt Purpose Expend TotalExemptPurposeExpendGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $211,783,233 | FilingOrganizationsTotalAmt |
Lobbying Nontaxable Amount LobbyingNontaxableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $1,000,000 | FilingOrganizationsTotalAmt |
Grassroots Nontaxable GrassrootsNontaxableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $250,000 | FilingOrganizationsTotalAmt |
Tot Lbbyng Grassroot Mns Non Tx TotLbbyngGrassrootMnsNonTxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $0 | FilingOrganizationsTotalAmt |
Tot Lbby Expend Mns Lbbyng Non Tx TotLbbyExpendMnsLbbyngNonTxGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Filing Organizations Total | $0 | FilingOrganizationsTotalAmt |
Avg Lobbying Nontaxable Amount AvgLobbyingNontaxableAmountGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $1,000,000 | CurrentYearMinus3Amt |
| Current Year Minus2 | $1,000,000 | CurrentYearMinus2Amt |
| Current Year Minus1 | $1,000,000 | CurrentYearMinus1Amt |
| Current Year | $1,000,000 | CurrentYearAmt |
| Total | $4,000,000 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Lobbying Ceiling | $6,000,000 | LobbyingCeilingAmt |
Avg Grassroots Nontaxable AvgGrassrootsNontaxableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Current Year Minus3 | $250,000 | CurrentYearMinus3Amt |
| Current Year Minus2 | $250,000 | CurrentYearMinus2Amt |
| Current Year Minus1 | $250,000 | CurrentYearMinus1Amt |
| Current Year | $250,000 | CurrentYearAmt |
| Total | $1,000,000 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grassroots Ceiling | $1,500,000 | GrassrootsCeilingAmt |
Schedule D IRS990ScheduleD
| Field | Value | IRS element (for citing) |
|---|---|---|
| Agent Trustee Etc | 0 | AgentTrusteeEtcInd |
| Incl Escrow Custodial Acct Liab | Yes (1) | InclEscrowCustodialAcctLiabInd |
| Explanation Provided | Yes (X) | ExplanationProvidedInd |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $67,782,372 | OtherCostOrOtherBasisAmt |
| Depreciation | $39,246,504 | DepreciationAmt |
| Book Value | $28,535,868 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $60,429,490 | OtherCostOrOtherBasisAmt |
| Depreciation | $46,165,774 | DepreciationAmt |
| Book Value | $14,263,716 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $365,409,501 | OtherCostOrOtherBasisAmt |
| Depreciation | $298,550,449 | DepreciationAmt |
| Book Value | $66,859,052 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $109,658,636 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (8 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| SECURITY DEPOSITS FINANCIAL ASSURANCE, HELD ON BEHALF OF MARKET PARTICIP | $234,322,947 |
| RESTRICTED CASH ON DEPOSIT (CLUSTER FUNDS), HELD ON BEHALF OF MARKET PARTICI | $17,398,205 |
| RESTRICTED CONGESTION REVENUE FUND, HELD ON BEHALF OF MARKET PARTICIPANTS | $7,564,698 |
| RESTRICTED CASH ON DEP(FORF FCM FUNDS),HELD ON BEHALF OF MARKET PARTICIPANTS | $4,477,764 |
| SYSTEM IMPACT STUDY DEPOSITS | $1,778,500 |
| MARKET PARTICIPANT SETTLEMENT FUNDS | $1,157,503 |
| RIGHT OF USE ASSET, OPERATING LEASES | $1,189,622 |
| FAIR MARKET VALUE OF INTEREST RATE CAP FOR TAX EXEMPT DEBT | $850 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $267,890,089 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| PENSIONS BENEFIT LIABILITY | $16,541,860 |
| LEASE LIABILITY OPERATING | $1,189,622 |
| ACTIVITIES RESERVE LIABILITIES | $533 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $17,732,015 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $235,600,056 | TotalRevEtcAuditedFinclStmtAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $235,600,056 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $235,600,056 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $235,600,056 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $235,600,056 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $235,600,056 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | THE COMPANY HAS DETERMINED PRIOR TO RECORDING ANY BENEFIT IN THE FINANCIAL STATEMENTS THAT IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY, AS REQUIRED BY THE ACCOUNTING FOR UNCERTAINTY WITHIN INCOME TAXES IN FASB ASC TOPIC 740, INCOME TAXES. A TAX POSITION IS MEASURED AT THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN FIFTY PERCENT LIKELY OF BEING REALIZED UPON SETTLEMENT. |
| SCHEDULE D, PART IV, LINE 2B | THE $317,435,036 REPORTED ON LINE 21, PART X OF THE FORM 990 REPRESENTS FUNDS HELD BY ISO NEW ENGLAND INC., FOR OR ON BEHALF OF MARKET PARTICIPANTS IN FURTHERANCE OF ISO NEW ENGLAND INC'S TAX-EXEMPT PURPOSE. |
| SCHEDULE D, PART VI, LINE 1A | ISO NEW ENGLAND INCURRED COSTS ASSOCIATED WITH THE PURCHASE OF LAND AT THE MAIN CONTROL CENTER LOCATED AT SULLIVAN ROAD IN HOLYOKE, MA AND THE BACKUP CONTROL CENTER LOCATED AT HELMSFORD WAY IN WINDSOR, CT. ISO NEW ENGLAND RECOVERS CURRENT YEAR AMORTIZATION THROUGH THE ANNUAL TARIFF FILING "RECOVERY OF ISO ADMINISTRATIVE EXPENSES". UNAMORTIZED LAND IS RECOGNIZED AS A DEFERRED ASSET AND REPORTED ON PART X, LINE 9 - PREPAID EXPENSES AND DEFERRED ASSETS ON THE FORM 990. THE MAIN CONTROL CENTER INCLUDES FULLY AMORTIZED LAND OF $150,596 AND THE BACKUP CONTROL CENTER INCLUDES LAND PURCHASE OF $982,581 AND AMORTIZATION OF $383,207 FOR A BOOK VALUE OF $599,374. |
Schedule I IRS990ScheduleI
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Recipient Table RecipientTable (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | Recipient EINRecipientEIN | IRC SectionIRCSectionDesc | Cash GrantCashGrantAmt | Non Cash AssistanceNonCashAssistanceAmt | Non Cash AssistanceNonCashAssistanceDesc | Purpose Of GrantPurposeOfGrantTxt |
|---|---|---|---|---|---|---|---|---|---|
| UNIVERSITY OF MASSACHUSETTS AMHERST | |||||||||
| 130 NATURAL RESOURCES ROAD | AMHERST | MA | 01003 | 043167352 | GOVERNMENTAL ENTITY | $7,500 | $0 | N/A | SUPPORT FOR THE COLLEGE OF ENGINEERING INDUSTRY PARTNER PROGRAM FOR THE ACADEMIC YEAR 2023 |
| IEEE FOUNDATION INC | |||||||||
| 445 HOES LANE | PISCATAWAY | NJ | 08855 | 131356633 | 501(C)(3) | $6,000 | $0 | N/A | SUPPORT OF THE REGION 1 RECIPIENTS FOR THE IEEE PES SCHOLARSHIP PLUS INITIATIVE FUND |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total501c3 Org | 2 | Total501c3OrgCnt |
| Total Other Org | 2 | TotalOtherOrgCnt |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCH I, PART I, LINE 2 | FormAndLineReferenceDesc |
| Explanation | IN 2023 ISO NEW ENGLAND INC. MADE A TOTAL OF THREE GRANTS TO 501(C) AND GOVERNMENT ORGANIZATIONS. THESE CONSISTED OF TWO GRANTS TO AN EDUCATIONAL INSTITUTION AND ONE NON-PROFIT EDUCATIONAL AND SERVICE ORGANIZATION. ISO NEW ENGLAND INC. GRANTS IN 2023 CONSISTED OF THREE SCHOLARSHIPS. ISO NEW ENGLAND INC. MONITORS THE USE OF THESE SCHOLARSHIP GRANTS BY WORKING WITH EACH ORGANIZATION AND PROVIDING INPUT INTO THE SCHOLARSHIP AWARDEES AND BY RECEIVING SUPPORTING DOCUMENTATION FROM THE ORGANIZATION ON HOW THE SCHOLARSHIP GRANT WILL BE USED AND NOTING THE STATED USE ON THE PAYMENT TO EACH ORGANIZATION. | ExplanationTxt |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Idemnification Gross Up Pmts | Yes (X) | IdemnificationGrossUpPmtsInd |
| Written Policy Ref T And E Expnss | Yes (1) | WrittenPolicyRefTAndEExpnssInd |
| Substantiation Required | Yes (1) | SubstantiationRequiredInd |
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Written Employment Contract | Yes (X) | WrittenEmploymentContractInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | Yes (1) | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
| Comp Based On Revenue Of Flng Org | 0 | CompBasedOnRevenueOfFlngOrgInd |
| Comp Bsd On Rev Related Orgs | 0 | CompBsdOnRevRelatedOrgsInd |
| Comp Bsd Net Earns Flng Org | 0 | CompBsdNetEarnsFlngOrgInd |
| Comp Bsd Net Earns Rltd Orgs | 0 | CompBsdNetEarnsRltdOrgsInd |
| Any Non Fixed Payments | Yes (1) | AnyNonFixedPaymentsInd |
| Initial Contract Exception | 0 | InitialContractExceptionInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (28 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GORDON VAN WELIE | ||||||||||||||
| PRESIDENT & CHIEF EXECUTIVE OFFICER | $913,364 | $0 | $960,687 | $0 | $9,808 | $0 | $864,420 | $0 | $28,482 | $0 | $2,776,761 | $0 | $451,607 | $0 |
| VAMSI K CHADALAVADA | ||||||||||||||
| EXEC. VP & CHIEF OPERATING OFFICER | $651,917 | $0 | $793,601 | $0 | $4,318 | $0 | $724,310 | $0 | $31,710 | $0 | $2,205,856 | $0 | $320,884 | $0 |
| ROBERT C LUDLOW | ||||||||||||||
| VP, CHIEF FINANCIAL & COMP. OFF. | $482,249 | $0 | $294,881 | $0 | $5,416 | $0 | $329,762 | $0 | $30,522 | $0 | $1,142,830 | $0 | $208,683 | $0 |
| PETER T BRANDIEN | ||||||||||||||
| VP, SYSTEM OPS. & MARKET ADMIN. | $443,754 | $0 | $251,895 | $0 | $6,690 | $0 | $323,929 | $0 | $22,211 | $0 | $1,048,479 | $0 | $159,709 | $0 |
| MARIA A GULLUNI | ||||||||||||||
| VP, GEN. COUNSEL & CORP. SEC. | $426,087 | $0 | $190,417 | $0 | $3,040 | $0 | $275,228 | $0 | $138 | $0 | $894,910 | $0 | $103,483 | $0 |
| MARK G KARL | ||||||||||||||
| VP, MARKET DEV. & SETTLEMENTS | $331,830 | $0 | $280,105 | $0 | $45,053 | $0 | $205,752 | $0 | $19,083 | $0 | $881,823 | $0 | $161,863 | $0 |
| MATTHEW W WHITE | ||||||||||||||
| VP, MARKET DEV. & CHIEF ECON. | $344,739 | $0 | $341,317 | $0 | $3,130 | $0 | $102,814 | $0 | $36,812 | $0 | $828,812 | $0 | $72,695 | $0 |
| ROBERT G ETHIER | ||||||||||||||
| VP, SYSTEM PLANNING | $373,459 | $0 | $158,791 | $0 | $3,358 | $0 | $247,740 | $0 | $32,353 | $0 | $815,701 | $0 | $93,459 | $0 |
| ANNE C GEORGE | ||||||||||||||
| VP, CHIEF EXT AFFAIRS & COMM. OFF. | $378,825 | $0 | $158,939 | $0 | $1,740 | $0 | $220,601 | $0 | $32,719 | $0 | $792,824 | $0 | $88,169 | $0 |
| RUDOLF A PAWUL | ||||||||||||||
| VP, INFO. & CYBER SEC. SVCS. | $368,259 | $0 | $55,779 | $0 | $904 | $0 | $240,065 | $0 | $26,872 | $0 | $691,879 | $0 | $0 | $0 |
| KATHLEEN DECASTRO | ||||||||||||||
| VP, HR & CHIEF PEOPLE DIV. OFF. | $356,412 | $0 | $98,850 | $0 | $1,057 | $0 | $163,205 | $0 | $31,219 | $0 | $650,743 | $0 | $0 | $0 |
| DENNIS G ROBINSON | ||||||||||||||
| DIRECTOR, MARKET ADMIN. & AUCTIONS | $257,708 | $0 | $59,998 | $0 | $3,699 | $0 | $239,877 | $0 | $25,804 | $0 | $587,086 | $0 | $0 | $0 |
| M DAVID HAMEEDY | ||||||||||||||
| DIRECTOR, PROGRAM MGMT. OFFICE | $275,679 | $0 | $57,952 | $0 | $7,534 | $0 | $205,743 | $0 | $36,950 | $0 | $583,858 | $0 | $0 | $0 |
| ELLEN FOLEY | ||||||||||||||
| DIRECTOR, CORP. MEDIA & WEB COMM. | $235,318 | $0 | $92,395 | $0 | $2,520 | $0 | $216,356 | $0 | $11,782 | $0 | $558,371 | $0 | $0 | $0 |
| MICHAEL N TANIWHA | ||||||||||||||
| IT DIR., INFR. & ENTRPR. SUPP. | $268,010 | $0 | $92,483 | $0 | $1,065 | $0 | $162,502 | $0 | $29,148 | $0 | $553,208 | $0 | $0 | $0 |
| CHRISTOPHER NOLAN | ||||||||||||||
| DIRECTOR, MARKET & CREDIT RISK | $271,576 | $0 | $60,000 | $0 | $143,552 | $0 | $28,500 | $0 | $36,125 | $0 | $539,753 | $0 | $0 | $0 |
| MATTHEW F GOLDBERG | ||||||||||||||
| DIRECTOR, STRAT., RISK & OPS. COMM. | $261,123 | $0 | $114,695 | $0 | $842 | $0 | $111,529 | $0 | $38,895 | $0 | $527,084 | $0 | $60,461 | $0 |
| SHANNON L CAREY | ||||||||||||||
| DIRECTOR, MKT. ANALYSIS & STLMNT. | $246,911 | $0 | $87,262 | $0 | $1,729 | $0 | $152,454 | $0 | $31,090 | $0 | $519,446 | $0 | $41,364 | $0 |
| TONGXIN ZHENG | ||||||||||||||
| DIRECTOR, ADVANCED TECH SOLUTIONS | $232,886 | $0 | $99,579 | $0 | $1,593 | $0 | $116,312 | $0 | $35,692 | $0 | $486,062 | $0 | $0 | $0 |
| DAVID NAUGHTON | ||||||||||||||
| EXEC. DIR., MKT. MONITORING | $268,249 | $0 | $52,650 | $0 | $417 | $0 | $71,418 | $0 | $37,079 | $0 | $429,813 | $0 | $0 | $0 |
| BRENT OBERLIN | ||||||||||||||
| DIRECTOR, TRANSMISSION PLANNING | $242,016 | $0 | $51,134 | $0 | $1,659 | $0 | $97,600 | $0 | $35,692 | $0 | $428,101 | $0 | $0 | $0 |
| ALBERT EVANS | ||||||||||||||
| DIRECTOR, CYBER SEC. & COMPL. | $290,440 | $0 | $80,234 | $0 | $17,987 | $0 | $36,300 | $0 | $1,250 | $0 | $426,211 | $0 | $0 | $0 |
| GREGG BRADLEY | ||||||||||||||
| MANAGER, MARKET MONITORING | $195,806 | $0 | $53,210 | $0 | $110,604 | $0 | $25,826 | $0 | $31,864 | $0 | $417,310 | $0 | $0 | $0 |
| ALAN F MCBRIDE | ||||||||||||||
| DIRECTOR, TRANS. SVCS. & RESC. QUAL. | $238,257 | $0 | $46,639 | $0 | $1,635 | $0 | $91,338 | $0 | $36,173 | $0 | $414,042 | $0 | $0 | $0 |
| JOHN DILORETO | ||||||||||||||
| DIRECTOR, INTERNAL AUDIT | $268,125 | $0 | $62,723 | $0 | $3,694 | $0 | $35,325 | $0 | $3,192 | $0 | $373,059 | $0 | $0 | $0 |
| LORRAINE M BRADY | ||||||||||||||
| SR. CORP. ADMIN. & ASST. SEC. | $106,506 | $0 | $8,310 | $0 | $1,115 | $0 | $76,936 | $0 | $23,426 | $0 | $216,293 | $0 | $0 | $0 |
| CHERYL LAFLEUR | ||||||||||||||
| CHAIR, BOARD OF DIRECTORS | $165,750 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $165,750 | $0 | $0 | $0 |
| MICHAEL J CURRAN | ||||||||||||||
| DIRECTOR | $151,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $151,000 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 1A | DURING 2023, TWO OF ISO NEW ENGLAND'S FIVE HIGHEST PAID EMPLOYEES (THAT WERE NOT ALSO A CURRENT OFFICER, DIRECTOR, TRUSTEE OR KEY EMPLOYEE) RECEIVED RELOCATION BENEFITS AND RELATED TAX INDEMNIFICATION AND GROSS UP COMPENSATION. ONE OF THESE AWARDS HAD AN AFTER TAX VALUE OF $141,909 AND A RELATED $51,538 TAX GROSS UP, WHILE THE OTHER HAD AN AFTER TAX VALUE OF $109,726 AND A RELATED $38,638 TAX GROSS UP. THE VALUE OF THE BENEFITS RECEIVED DURING 2023 WERE INCLUDED ON THE EMPLOYEE'S IRS FORM W-2 FOR 2023 AS TAXABLE COMPENSATION. ONE KEY EMPLOYEE AND ONE FIVE HIGHEST PAID EMPLOYEE RECEIVED A RETIREMENT GIFT THAT WAS GROSSED UP SO THAT EACH HAD AN AFTER TAX VALUE OF $500 AND RELATED APPROXIMATE GROSS UP OF $165. TWO KEY EMPLOYEES RECEIVED AN AWARD UNDER THE COMPANY'S EMPLOYEE RECOGNITION PROGRAM. THE TAXABLE EMPLOYEE RECOGNITION PROGRAM IS AVAILABLE TO ALL EMPLOYEES WITH EXCEPTION OF THE CEO, EXECUTIVE/SENIOR VICE PRESIDENTS, AND VICE PRESIDENTS. THE EMPLOYEE RECOGNITION PROGRAM RECOGNIZES EMPLOYEE ACHIEVEMENTS OR ACCOMPLISHMENTS THAT CONTRIBUTE TO THE OVERALL OBJECTIVE OF THE BUSINESS. IT ENCOURAGES EMPLOYEES TO EXCEL IN ISO CORE COMPETENCIES, EITHER INDIVIDUALLY OR THROUGH TEAMS. EACH OF THESE AWARDS HAD AN AFTER TAX VALUE OF $150 AND A RELATED APPROXIMATE $67 TAX GROSS UP. |
| PART I, LINE 3 | COMPENSATION IS APPROVED IN ADVANCE BY THE BOARD OF DIRECTORS (THE "BOARD"). SCHEDULE O, FORM 990, PART VI, SECTION B, LINE 15 PROVIDES A COMPLETE DESCRIPTION OF THE ESTABLISHMENT OF COMPENSATION FOR ISO NEW ENGLAND'S CHIEF EXECUTIVE OFFICER, AND OTHER OFFICERS OF THE COMPANY. |
| PART I, LINE 4A | MARK KARL RECEIVED SEVERANCE PAYMENT IN THE AMOUNT OF $32,753.88. |
| PART I, LINE 7 | ISO NEW ENGLAND CURRENTLY ADMINISTERS TWO INCENTIVE COMPENSATION PLANS THAT BOTH PROVIDE FOR NON-FIXED PAYMENTS: AN ANNUAL PERFORMANCE INCENTIVE PLAN (THE "API PLAN") AND A LONG-TERM INCENTIVE PLAN (THE DEFERRED PERFORMANCE INCENTIVE PLAN, "DPI PLAN"). SUBJECT TO CERTAIN ELIGIBILITY CRITERIA, MOST EMPLOYEES MAY RECEIVE AN API PLAN AWARD BASED UPON A FORMULA THAT TAKES INTO ACCOUNT ORGANIZATIONAL PERFORMANCE, INDIVIDUAL PERFORMANCE, ANNUAL BASE PAY (AS DECEMBER 31ST OF THE PLAN YEAR) AND A GRADE-RELATED SALARY PERCENTAGE. ORGANIZATIONAL PERFORMANCE IS MEASURED BY THE BOARD OF DIRECTORS OF ISO NEW ENGLAND (THE "BOARD") AGAINST GOALS AND OBJECTIVES DEVELOPED BY THE COMPENSATION AND HUMAN RESOURCES COMMITTEE OF THE BOARD (THE "COMMITTEE"), OTHER BOARD COMMITTEES, AND THE BOARD AT THE COMMENCEMENT OF EACH PLAN YEAR. THE INDIVIDUAL PERFORMANCE OF AN OFFICER IS EVALUATED BY THE COMMITTEE AND THE BOARD. THE FINAL API PLAN AWARD FOR AN OFFICER IS CALCULATED AND PAID ONCE THE BOARD DETERMINES THE SCORES FOR ORGANIZATIONAL PERFORMANCE AND INDIVIDUAL PERFORMANCE FOR THE PLAN YEAR. THE DPI PLAN AWARDS ARE AVAILABLE TO OFFICERS AND ARE BASED UPON THE ACHIEVEMENT OF ORGANIZATIONAL AND INDIVIDUAL LONG-TERM GOALS ESTABLISHED BY RECOMMENDATIONS OF THE COMMITTEE (WITH INPUT FROM OTHER BOARD COMMITTEES) AND WITH THE APPROVAL OF THE BOARD. SIMILAR TO THE API PLAN, THE DPI PLAN AWARDS ARE CALCULATED USING AN ELIGIBLE EMPLOYEE'S BASE SALARY IN EFFECT AS OF DECEMBER 31ST OF THE PLAN YEAR AND A GRADE-RELATED SALARY PERCENTAGE; HOWEVER, DPI PLAN AWARDS GENERALLY ARE PAID TWO AND ONE-HALF YEARS AFTER THE END OF THE PLAN YEAR. THE BOARD ASSESSES THE PERFORMANCE OF THE ORGANIZATION AND THE INDIVIDUAL AT THE END OF EACH PLAN YEAR, AND REASSESSES THE ORGANIZATION'S PROGRESS TOWARDS ITS LONG-TERM GOALS AND OBJECTIVES TWO AND ONE-HALF YEARS LATER, IMMEDIATELY PRIOR TO THE CALCULATION AND PAY-OUT OF THE DPI PLAN AWARD. UNDER BOTH PLANS, ISO NEW ENGLAND RESERVES THE RIGHT TO REDUCE OR ELIMINATE PLAN AWARDS IF THE ELIGIBLE EMPLOYEE OR THE ORGANIZATION UNDERPERFORMS OR THERE IS A MAJOR COLLAPSE OF THE BULK ELECTRIC POWER SYSTEM MANAGED BY ISO NEW ENGLAND. |
Schedule K IRS990ScheduleK
Tax Exempt Bonds Issues TaxExemptBondsIssuesGrp (2 entries)
| Bond ReferenceBondReferenceCd | Bond Issuer EINBondIssuerEIN | CUSIPCUSIPNum | Bond IssuedBondIssuedDt | Issue PriceIssuePriceAmt | PurposePurposeDesc | DefeasedDefeasedInd | On Behalf Of IssuerOnBehalfOfIssuerInd | Pool FinancingPoolFinancingInd |
|---|---|---|---|---|---|---|---|---|
| MASSACHUSETTS DEVELOPMENT FINANCE AGENCY | ||||||||
| A | 043431814 | 57583RAA3 | 2005-02-25 | $45,500,000 | FINANCE ACQUISITION OF 64K SQ. FOOT FACILITY, RENOVATE EXISTING BUILDING | 0 | 0 | 0 |
| CONNECTICUT INNOVATIONS INCORPORATED | ||||||||
| B | 041423798 | 20758CAA3 | 2012-12-13 | $36,000,000 | FINANCE ACQUISITION OF LAND & OFFICE BUILDING FOR BACK-UP CONTROL CENTER | 0 | 0 | 0 |
Tax Exempt Bonds Proceeds TaxExemptBondsProceedsGrp (2 entries)
| Bond ReferenceBondReferenceCd | RetiredRetiredAmt | Total ProceedsTotalProceedsAmt | Working Capital ExpendituresWorkingCapitalExpendituresAmt | Capital ExpendituresCapitalExpendituresAmt | Substantial CompletionSubstantialCompletionYr | Refunding Tax Exempt BondsRefundingTaxExemptBondsInd | Refunding Taxable BondsRefundingTaxableBondsInd | Final Allocation MadeFinalAllocationMadeInd | Adequate Books And Rec MaintAdequateBooksAndRecMaintInd | Issuance Costs From ProceedsIssuanceCostsFromProceedsAmt | Other Spent ProceedsOtherSpentProceedsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|
| A | $30,485,000 | $45,500,000 | $146,955 | $45,353,045 | 2007 | 0 | 0 | Yes (1) | Yes (1) | ||
| B | $14,270,000 | $36,000,000 | $222,060 | $34,041,441 | 2014 | 0 | 0 | Yes (1) | Yes (1) | $386,499 | $1,350,000 |
Tax Exempt Bonds Private Bus Use TaxExemptBondsPrivateBusUseGrp (2 entries)
| Bond ReferenceBondReferenceCd | Owning Bond Financed PropertyOwningBondFinancedPropertyInd | Any Lease ArrangementsAnyLeaseArrangementsInd | Mgmt Contract Bond Fincd PropMgmtContractBondFincdPropInd | Engage Bond Counsel ContractsEngageBondCounselContractsInd | Any Research AgreementsAnyResearchAgreementsInd | Private Bus Use By OthersPrivateBusUseByOthersPct | Private Bus Concerning UBIPrivateBusConcerningUBIPct | Total Private Business UseTotalPrivateBusinessUsePct | Bond Iss Meet Prvt Sec Pymt TestBondIssMeetPrvtSecPymtTestInd | Change In Use Bond Financed PropChangeInUseBondFinancedPropInd | Procs Nonqualified Bond RemdtdProcsNonqualifiedBondRemdtdInd |
|---|---|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | Yes (1) | Yes (1) | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | 0 | 0.00000 | 0.00000 | 0.00000 | 0 | 0 | Yes (1) |
Tax Exempt Bonds Arbitrage TaxExemptBondsArbitrageGrp (2 entries)
| Bond ReferenceBondReferenceCd | Form8038 T FiledForm8038TFiledInd | Rebate Not Due YetRebateNotDueYetInd | Exception To RebateExceptionToRebateInd | No Rebate DueNoRebateDueInd | Variable Rate IssueVariableRateIssueInd | Hedge Identified In Bks And RecHedgeIdentifiedInBksAndRecInd | Gross Proceeds Invested In GICGrossProceedsInvestedInGICInd | Gross Proceeds InvestedGrossProceedsInvestedInd | Written Proc To Monitor ReqsWrittenProcToMonitorReqsInd |
|---|---|---|---|---|---|---|---|---|---|
| A | 0 | 0 | 0 | Yes (1) | Yes (1) | 0 | 0 | 0 | Yes (1) |
| B | 0 | 0 | 0 | Yes (1) | Yes (1) | 0 | 0 | 0 | Yes (1) |
Procedures Corrective Action ProceduresCorrectiveActionGrp (2 entries)
| Bond ReferenceBondReferenceCd | Procedures Corrective ActionProceduresCorrectiveActionInd |
|---|---|
| A | Yes (1) |
| B | Yes (1) |
Supplemental Information Detail SupplementalInformationDetail (4 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, COLUMN F: | 02/25/2005 45,500,000 MASSACHUSETTS DEVELOPMENT - THE PROCEEDS OF THE BONDS LOANED TO ISO NEW ENGLAND INC. WERE MADE TO FINANCE AND REFINANCE A PROJECT LOCATED AT ONE SULLIVAN ROAD, HOLYOKE, MASSACHUSETTS; GENERALLY CONSISTING OF (A) THE ACQUISITION OF A 13-ACRE PARCEL OF PROPERTY AND ATTACHED EXISTING 64,000 SQUARE FOOT FACILITY; (B) THE RENOVATION, EQUIPPING AND FURNISHING OF THE EXISTING FACILITY, INCLUDING CONSTRUCTION OF A 3,200 SQUARE FOOT EXPANSION, A NEW LOBBY AND MECHANICAL PENTHOUSES, (C) CONSTRUCTION, EQUIPPING AND FURNISHING OF A THREE STORY, 100,000 SQUARE FOOT FACILITY; AND (D) CONSTRUCTION OF SITE IMPROVEMENTS, INCLUDING BUT NOT LIMITED TO AN ADDITIONAL 342-SPACE PARKING LOT, A RETAINING WALL AND SECURITY SCREEN, A PEDESTRIAN CONNECTING BRIDGE BETWEEN THE EXISTING AND NEW FACILITY AND A GUARD HOUSE, ALL TO BE USED BY THE COMPANY TO CONDUCT ITS MISSION AND ACTIVITIES. |
| PART I, COLUMN F: | 12/13/2012 36,000,000 CONNECTICUT INNOVATIONS INCORPORATED - THE PROCEEDS OF THE BONDS LOANED TO ISO NEW ENGLAND INC., WERE MADE TO FINANCE THE COST OF A (A) ACQUISITION OF REAL PROPERTY LOCATED AT 55 HELMSFORD WAY, WINDSOR, CONNECTICUT (THE "PROPERTY"), (B) THE CONSTRUCTION OF AN APPROXIMATELY 70,000 SQUARE FOOT OFFICE BUILDING FOR A BACK-UP CONTROL CENTER WITH DATA CENTER AND CONTROL ROOM COMPONENTS ON THE PROPERTY, (C) THE PURCHASE AND INSTALLATION OF GENERAL MACHINERY, EQUIPMENT, OFFICE FURNITURE AND FIXTURES, AND (D) MISCELLANEOUS CAPITAL PROJECTS; AND (E) PAY COSTS OF ISSUANCE AND CREDIT ENHANCEMENT FEES WITH RESPECT TO THE BONDS (THE "PROJECT"). |
| PART IV, LINE 2C | 02/25/2005 45,500,000 MASSACHUSETTS DEVELOPMENT - 02/25/2005 45,500,000 MASSACHUSETTS DEVELOPMENT - MARCH 19, 2010 THE ARBITRAGE REBATE CALCULATION WAS COMPLETED. |
| PART IV, LINE 2C | 12/13/2012 36,000,000 CONNECTICUT INNOVATIONS INCORPORATED - 12/13/2012 36,000,000 CONNECTICUT INNOVATIONS INCORPORATED - NOVEMBER 30, 2022 THE ARBITRAGE REBATE CALCULATION WAS COMPLETED. |
Schedule L IRS990ScheduleL
Bus Tr Involve Interested Prsn BusTrInvolveInterestedPrsnGrp
Name Of Interested NameOfInterested
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | RALPH SLATE | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Relationship Description | FAMILY MEMBER OF OFFICER | RelationshipDescriptionTxt |
| Transaction | $257,276 | TransactionAmt |
| Transaction | COMPENSATION OF EMPLOYEE AT ISO | TransactionDesc |
| Sharing Of Revenues | 0 | SharingOfRevenuesInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE L, PART IV, LINE 1 | FormAndLineReferenceDesc |
| Explanation | LINE 1 - RALPH SLATE IS A FAMILY MEMBER OF MARIA GULLUNI, CURRENT OFFICER. COMPENSATION AS AN EMPLOYEE OF ISO NEW ENGLAND INC. IN THE POSITION OF TECHNICAL MANAGER. THE AMOUNT IN COLUMN (C) REPRESENTS COMPENSATION EARNED FOR RALPH SLATE FOR 2023. | ExplanationTxt |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (7 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 1A | ISO NEW ENGLAND HAS NINE INDEPENDENT VOTING MEMBERS OF THE GOVERNING BODY THAT RECEIVE REASONABLE COMPENSATION FOR THEIR SERVICES PROVIDED IN THEIR CAPACITY AS MEMBERS OF THE GOVERNING BODY. THE COMPANY'S COMPENSATION CONSULTANT ASSESSES DIRECTOR COMPENSATION AMOUNTS TO ENSURE THE COMPENSATION IS REASONABLE. THIS BENCHMARK ASSESSMENT INCLUDES REVIEW OF PEER ORGANIZATIONS AND ORGANIZATIONS THAT BEST REFLECT THE MARKET FROM WHICH DIRECTOR TALENT IS SOURCED. |
| FORM 990, PART VI, SECTION A, LINE 4 | DURING 2023 ISO NEW ENGLAND AMENDED ITS BY-LAWS FOR THE FOLLOWING TWO ITEMS: TO INCREASE THE AGE, FROM 70 TO 75, FOR WHICH AN INDIVIDUAL IS ELIGIBLE FOR ELECTION OR REELECTION AS A BOARD MEMBER; AND TO ELIMINATE THE 4 YEAR TERM LIMIT FOR THE BOARD CHAIRMANSHIP. |
| FORM 990, PART VI, SECTION B, LINE 11B | THE FORM 990 IS PREPARED BY THE LEAD FINANCIAL ANALYST AND THEN REVIEWED AND COMMENTED UPON BY THE MANAGER, BUDGET AND FINANCIAL REPORTING. THE FORM 990 IS THEN REVIEWED AND COMMENTED UPON BY THE CONTROLLER AND DIRECTOR, ACCOUNTING, AND THEN BY ISO NEW ENGLAND'S EXTERNAL TAX COUNSEL AND EXTERNAL ACCOUNTING FIRM AS PAID TAX PREPARER, CHIEF FINANCIAL AND COMPLIANCE OFFICER AND THEN REVIEWED BY THE AUDIT & FINANCE COMMITTEE OF THE BOARD OF DIRECTORS AND THEN BY ISO NEW ENGLAND'S FULL BOARD OF DIRECTORS PRIOR TO BEING FILED. |
| FORM 990, PART VI, SECTION B, LINE 12C | ISO NEW ENGLAND HAS A "CODE OF CONDUCT" THAT APPLIES TO ITS DIRECTORS AND EMPLOYEES (INCLUDING OFFICERS AND KEY EMPLOYEES). THE AUDIT AND FINANCE COMMITTEE OF THE BOARD OF DIRECTORS OVERSEES THE ADMINISTRATION OF THE CODE OF CONDUCT AND ENSURES THAT PROMPT ACTION IS TAKEN TO INVESTIGATE ANY POTENTIAL VIOLATIONS OF, OR NONCOMPLIANCE WITH, THE CODE OF CONDUCT. WHEN A MEMBER OF THE BOARD OF DIRECTORS IS INVOLVED, THE FULL BOARD MAKES THE RELEVANT DETERMINATION. ON BEHALF OF THE AUDIT AND FINANCE COMMITTEE, THE COMPLIANCE OFFICER, WHO IS THE VICE PRESIDENT, HUMAN RESOURCES, HAS THE DAY-TO-DAY RESPONSIBILITY FOR REVIEWING COMPLIANCE WITH THE CODE OF CONDUCT, INCLUDING INTERPRETING THE CODE OF CONDUCT, ADVISING DIRECTORS, OFFICERS AND EMPLOYEES REGARDING POTENTIAL CONFLICTS OF INTEREST AND FOLLOWING UP ON ALL SUSPECTED VIOLATIONS. INDIVIDUALS SUBJECT TO THE CODE OF CONDUCT ARE PROHIBITED FROM USING THEIR POSITIONS TO IMPROPERLY BENEFIT THEMSELVES, THEIR FAMILY MEMBERS OR THE PEOPLE WITH WHOM THEY COHABITATE. SIMILARLY, SUCH INDIVIDUALS ARE PROHIBITED FROM HAVING A SIGNIFICANT FINANCIAL INTEREST IN ANY CONTRACTOR, COMPANY, BUSINESS, OR ENTERPRISE WHICH HAS, OR IS SEEKING TO ESTABLISH, BUSINESS RELATIONS WITH ISO NEW ENGLAND INC., UNLESS THAT RELATIONSHIP HAS BEEN DISCLOSED TO THE COMPLIANCE OFFICER OR HIS OR HER DESIGNEE AND APPROVED BY THE AUDIT AND FINANCE COMMITTEE OF THE BOARD OF DIRECTORS. INDIVIDUALS SUBJECT TO THE CODE OF CONDUCT ARE OBLIGATED TO IDENTIFY ACTIVITIES OF ANOTHER DIRECTOR, OFFICER OR EMPLOYEE THAT DO NOT COMPLY WITH THE CODE OF CONDUCT AND REPORT THEM TO THE COMPLIANCE OFFICER. SUCH REPORTS MAY BE MADE ON A CONFIDENTIAL BASIS AND INDIVIDUALS WILL NOT BE SUBJECT TO RETALIATORY ACTIONS FOR MAKING SUCH REPORTS. INDIVIDUALS WHO VIOLATE THE CODE OF CONDUCT MAY BE SUBJECT TO DISCIPLINARY ACTION INCLUDING SUSPENSION FROM DUTIES OR TERMINATION. ALL DIRECTORS AND EMPLOYEES ARE REQUIRED TO SIGN AN ANNUAL COMPLIANCE CERTIFICATE THAT STATES, AMONG OTHER THINGS, THAT THE INDIVIDUAL HAS READ, FULLY UNDERSTANDS AND WILL COMPLY WITH THE CODE OF CONDUCT. IF A CONFLICT EXISTS UNDER THE CODE OF CONDUCT, EMPLOYEES MUST EITHER REMOVE SUCH CONFLICT (WHICH MAY INCLUDE SEPARATION OF EMPLOYMENT FROM ISO NEW ENGLAND) OR BE GRANTED A WAIVER OF COMPLIANCE FROM A SPECIFIC PROVISION OF THE CODE OF CONDUCT FROM THE AUDIT AND FINANCE COMMITTEE. FOR CONFLICTS INCLUDING PROHIBITED INVESTMENTS, DIVESTITURE MUST OCCUR WITHIN SIX MONTHS OF COMMENCEMENT OF EMPLOYMENT, OF SUCH INVESTMENT BECOMING A PROHIBITED INVESTMENT, OR OF SUCH PROHIBITED INVESTMENT BEING ACQUIRED INVOLUNTARILY, AS APPLICABLE. FOR ISSUES INVOLVING THE PROHIBITION OF EMPLOYEE ASSOCIATION WITH MARKET PARTICIPANTS (INCLUDING SPOUSAL EMPLOYMENT BY A MARKET PARTICIPANT), THE AUDIT AND FINANCE COMMITTEE OF THE BOARD OF DIRECTORS MAY GRANT A WAIVER WHICH MAY INCLUDE LIMITATIONS ON THE EMPLOYEE'S DUTIES AND/OR CHANGE OF DUTIES TO AVOID AN APPEARANCE OF A CONFLICT. FOR OTHER POTENTIAL CODE OF CONDUCT VIOLATIONS, THE AUDIT AND FINANCE COMMITTEE OF THE BOARD OF DIRECTORS (OR WITH RESPECT TO MATTERS INVOLVING DIRECTORS, THE BOARD OF DIRECTORS) MAY GRANT A WAIVER OF COMPLIANCE FROM A SPECIFIC PROVISION OF THE CODE OF CONDUCT TO AVOID UNJUST OR UNREASONABLE RESULTS AND SUCH WAIVER MAY INCLUDE APPROPRIATE LIMITATIONS ON THE EMPLOYEE'S DUTIES AND RESPONSIBILITIES TO AVOID A CONFLICT OF INTEREST. |
| FORM 990, PART VI, SECTION B, LINE 15 | THE COMPENSATION OF THE CHIEF EXECUTIVE OFFICER AND OF EACH OF THE OTHER SENIOR EXECUTIVE OFFICERS OF ISO NEW ENGLAND INC. (THE "COMPANY") IS DETERMINED IN A MANNER SO THAT THE TOTAL COMPENSATION OF EACH INDIVIDUAL IS PRESUMED TO BE REASONABLE IN ACCORDANCE WITH TREASURY REGULATION 53.4958-6. IN ACCORDANCE WITH THIS TREASURY REGULATION: (I) EACH COMPENSATION ARRANGEMENT IS APPROVED IN ADVANCE BY THE MEMBERS OF THE BOARD OF DIRECTORS (THE "BOARD") AND/OR OF THE COMPENSATION AND HUMAN RESOURCES COMMITTEE OF THE BOARD (THE "COMMITTEE") WHO DO NOT HAVE A CONFLICT OF INTEREST WITH RESPECT TO THAT COMPENSATION ARRANGEMENT (AS SET FORTH IN TREAS. REG. 53.4958-6(C)(1)(III)); (II) EACH OF THE BOARD AND THE COMMITTEE OBTAINS AND RELIES UPON APPROPRIATE DATA AS TO COMPARABILITY PRIOR TO MAKING ITS DETERMINATION REGARDING A COMPENSATION ARRANGEMENT; AND (III) THE BASIS FOR THE COMPENSATION-RELATED DETERMINATION MADE BY THE BOARD OR THE COMMITTEE IS ADEQUATELY DOCUMENTED CONCURRENTLY WITH THE MAKING OF THE DETERMINATION. THE COMPANY'S OVERALL COMPENSATION POLICY IS DESIGNED TO PROMOTE THE TAX-EXEMPT PURPOSES OF THE COMPANY BY ATTRACTING, RETAINING AND MOTIVATING HIGHLY-SKILLED SENIOR MANAGEMENT TO DELIVER SUPERIOR SERVICE IN FURTHERANCE OF THE COMPANY'S EXEMPT PURPOSE: TO LESSEN THE BURDENS ON GOVERNMENT THROUGH THE ADMINISTRATION OF AN EFFICIENT AND RELIABLE ELECTRICITY TRANSMISSION SYSTEM, WHOLESALE ELECTRICITY MARKETPLACE AND COMPREHENSIVE REGIONAL BULK POWER SYSTEM PLANNING PROCESS FOR THE BENEFIT OF NEW ENGLAND. FOR EACH FISCAL YEAR, THE COMMITTEE DEVELOPS RECOMMENDATIONS REGARDING: (I) THE BASE SALARY OF EACH SENIOR EXECUTIVE; (II) THE ANNUAL PERFORMANCE INCENTIVE PLAN (I.E. THE SHORT-TERM INCENTIVE COMPENSATION PLAN) GOALS AND OBJECTIVES FOR THE PLAN YEAR FOR THE COMPANY AND EACH SENIOR EXECUTIVE; (III) THE LONG-TERM INCENTIVE COMPENSATION PLAN GOALS AND OBJECTIVES FOR THE PLAN YEAR FOR THE COMPANY AND EACH SENIOR EXECUTIVE; AND (IV) PROPOSED CHANGES, IF ANY, TO THE COMPANY'S FRINGE BENEFIT PLANS. AT THE END OF EACH FISCAL YEAR, THE COMMITTEE ALSO MAKES RECOMMENDATIONS REGARDING THE PERFORMANCE OF THE COMPANY AND EACH SENIOR EXECUTIVE AGAINST THE PLAN YEAR GOALS AND OBJECTIVES ESTABLISHED UNDER BOTH THE SHORT-TERM INCENTIVE COMPENSATION PLAN AND THE LONG-TERM INCENTIVE COMPENSATION PLAN. ALL OF THE AFOREMENTIONED COMMITTEE RECOMMENDATIONS ARE BASED UPON INFORMATION AND MATERIALS DERIVED FROM A NUMBER OF SOURCES, INCLUDING: EVALUATIONS OF THE COMPANY'S PERFORMANCE, REQUIREMENTS AND SHORT- AND LONG-RANGE STRATEGIC PLANS AS PREPARED BY THE BOARD, BOARD COMMITTEES AND SENIOR EXECUTIVES; EVALUATIONS OF THE PERFORMANCE OF EACH SENIOR EXECUTIVE'S PERFORMANCE AS PREPARED BY THE BOARD, THE COMMITTEE AND/OR SENIOR EXECUTIVES; SALARY AND OTHER COMPENSATION SURVEYS CONDUCTED BY INDEPENDENT HUMAN RESOURCES AND COMPENSATION CONSULTING FIRMS; REPORTS AND FINDINGS PREPARED BY AN INDEPENDENT HUMAN RESOURCES AND COMPENSATION CONSULTING FIRM RETAINED BY THE COMPANY TO EVALUATE THE REASONABLENESS OF THE COMPENSATION PAID TO SENIOR EXECUTIVES; AND WRITTEN AND ANECDOTAL INFORMATION COLLECTED BY THE HUMAN RESOURCES DEPARTMENT OF THE COMPANY IN CONNECTION WITH THE RECRUITMENT AND RETENTION OF SENIOR EXECUTIVES FOR THE COMPANY (INCLUDING REPORTS PROVIDED BY EXECUTIVE RECRUITMENT FIRMS). THE COMPENSATION-RELATED RECOMMENDATIONS MADE BY THE COMMITTEE ARE REFERRED TO THE BOARD FOR ITS REVIEW, TOGETHER WITH ALL EVALUATIONS, SURVEYS, CONSULTANT REPORTS AND FINDINGS AND OTHER INFORMATION COMPILED BY THE COMMITTEE. THE BOARD REVIEWS THE RECOMMENDATIONS AND MATERIAL PROVIDED BY THE COMMITTEE, AND CONSIDERS THE RECOMMENDATIONS IN LIGHT OF: THE PERFORMANCE, FINANCIAL CONDITION, REQUIREMENTS, AND EXEMPT PURPOSE GOALS AND OBJECTIVES OF THE COMPANY; THE PERFORMANCE, EXPERIENCE, AND RESPONSIBILITIES OF EACH SENIOR EXECUTIVE; AND THE COMPETITIVE MARKET FOR EXECUTIVE TALENT. THE RECOMMENDATIONS ALSO ARE WEIGHED AGAINST A RANGE OF REASONABLE COMPENSATION ESTABLISHED FOR EACH OF THE COMPANY'S EXECUTIVES BY AN INDEPENDENT HUMAN RESOURCES AND COMPENSATION CONSULTING FIRM (IN 2024, MERCER), BASED UPON INDEPENDENT SURVEY SOURCES AND COMPENSATION INFORMATION FOR FUNCTIONALLY-COMPARABLE POSITIONS PROVIDED OR MADE AVAILABLE BY OTHER REGIONAL TRANSMISSION OPERATORS, INDEPENDENT SYSTEMS OPERATORS, AND OTHER SIMILARLY SITUATED TAXABLE AND TAX-EXEMPT ORGANIZATIONS. BASED ON THE FOREGOING, THE BOARD MAKES A FINAL DECISION REGARDING EACH OF THE ELEMENTS OF EACH SENIOR EXECUTIVE'S COMPENSATION, INCLUDING: BASE SALARY; THE CURRENT FISCAL YEAR'S GOALS AND OBJECTIVES FOR EACH OF THE COMPANY AND THE EXECUTIVE FOR EACH OF THE SHORT-TERM INCENTIVE COMPENSATION PLAN AND THE LONG-TERM INCENTIVE COMPENSATION PLAN; CHANGES (IF ANY) TO THE COMPANY'S FRINGE BENEFIT PLANS; THE PERFORMANCE SCORES AGAINST THE PRIOR FISCAL YEAR'S GOALS AND OBJECTIVES FOR EACH OF THE COMPANY AND THE EXECUTIVE FOR EACH OF THE SHORT-TERM INCENTIVE COMPENSATION PLAN AND THE LONG-TERM INCENTIVE COMPENSATION PLAN; AND THE FINAL PAYMENTS TO BE MADE IN THE CURRENT FISCAL YEAR UNDER THE COMPANY'S INCENTIVE COMPENSATION PLANS BASED UPON THOSE COMPANY AND INDIVIDUAL PERFORMANCE SCORES. EACH COMPENSATION-RELATED DECISION OF THE BOARD IS DOCUMENTED IN THE MINUTES OF THE MEETING OR MEETINGS AT WHICH THAT DECISION IS MADE INCLUDING THE MATERIALS AND INFORMATION RELIED UPON TO MAKE THE DECISION, THE IDENTITY OF THE MEMBERS OF THE BOARD MAKING THE DECISION AND A SUMMARY OF THE BOARD'S DELIBERATIONS AND REASONS UNDERLYING THE DECISION. THOSE MINUTES ARE THEREAFTER REVIEWED AND, WITH ANY CORRECTIONS AGREED TO BY THE BOARD, ARE APPROVED AT THE NEXT MONTHLY MEETING OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 16A: THE COMPANY HAS ENTERED INTO AGREEMENTS TO SHARE COSTS FOR STUDIES AND OTHER WORK OF COMMON INTEREST. THESE COST SHARING AGREEMENTS ARE WITH OTHER INDEPENDENT SYSTEM OPERATORS (ISOS) AND REGIONAL TRANSMISSION ORGANIZATIONS (RTOS,) ALL OF WHICH ARE TAX-EXEMPT ORGANIZATIONS EXCEPT FOR PJM INTERCONNECTION LLC, WHICH IS A TAXABLE ENTITY ORGANIZED AS A LIMITED LIABILITY COMPANY. THE COMPANY REVIEWS AGREEMENTS ENTERED INTO TO SAFEGUARD ITS EXEMPT STATUS AND TO ENSURE THAT THE COMPANY'S PARTICIPATION IN THE AGREEMENTS FURTHERS ITS TAX EXEMPT PURPOSE. FORM 990, PART VI, SECTION B, LINE 16B: THE METHODOLOGY OF ISO NEW ENGLAND'S FIN 48 (ASC 740) ANALYSIS INCLUDES REVIEW AND EVALUATION OF THE ORGANIZATIONS TAX EXEMPT STATUS, GEOGRAPHICAL SCOPE IN WHICH IT OPERATES, AND ORGANIZATIONAL AND OPERATIONAL DOCUMENTS. INCLUDED IN THE REVIEW OF THE OPERATIONAL DOCUMENTS, ARE ANY JOINT VENTURE ARRANGEMENTS. THE CONTROLLER AND DIRECTOR, ACCOUNTING REVIEWS THE OBJECTIVE AND THE SCOPE OF ANY JOINT VENTURE ARRANGEMENT, TOGETHER WITH ANY DOCUMENTS MEMORIALIZING THE JOINT VENTURE ARRANGEMENT, TO SAFEGUARD THE ASSETS AND TAX-EXEMPT STATUS OF THE COMPANY AND TO ENSURE THAT THE COMPANY'S PARTICIPATION IN THE JOINT VENTURE FURTHERS ITS TAX EXEMPT PURPOSE. IN ADDITION, ISO NEW ENGLAND MONITORS ALL ACTIVITIES TO ENSURE THAT NO ACTIVITY RESULTS IN ITS EARNINGS OR ASSETS INURING TO THE BENEFIT OF ANY INDIVIDUAL. |
| FORM 990, PART VI, SECTION C, LINE 19 | ISO NEW ENGLAND MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY (CALLED "THE CODE OF CONDUCT"), AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON ITS WEBSITE WWW.ISO-NE.COM. EACH OF THESE DOCUMENTS CAN BE FOUND ON THE WEBSITE AS FOLLOWS: GOVERNING DOCUMENTS AND CODE OF CONDUCT - HTTPS://WWW.ISO-NE.COM/ABOUT/CORPORATE-GOVERNANCE/CORPORATE-DOCUMENTS, AND THE FINANCIAL STATEMENTS CAN BE FOUND AT WWW.ISO-NE.COM/ABOUT/CORPORATE-GOVERNANCE/FINANCIAL-PERFORMANCE. |
| FORM 990, PART VII, SECTION A, LINE 1A | ISO NEW ENGLAND ENTERED INTO A SETTLEMENT AGREEMENT WITH THE FEDERAL ENERGY REGULATORY COMMISSION'S OFFICE OF ENFORCEMENT TO RESOLVE A DISPUTE STEMMING FROM THE DELAY IN THE COMMERCIALIZATION OF THE SALEM HARBOR POWER DEVELOPMENT GENERATING FACILITY IN MASSACHUSETTS (FORMERLY KNOWN AS FOOTPRINT POWER) AND ITS RECEIPT OF CAPACITY PAYMENTS. AS OUTLINED IN THE SETTLEMENT AGREEMENT, A $500,000 PENALTY THAT WAS PAID IN OCTOBER 2022, WAS FUNDED THROUGH A REDUCTION IN EXECUTIVE COMPENSATION. DURING 2022 ACCRUED COMPENSATION WAS REDUCED BY THE $500,000 PENALTY THAT RESULTED IN A REDUCTION IN ANNUAL PERFORMANCE PLAN (THE "API PLAN" AS NOTED ON SCHEDULE J PART III) PAYMENTS MADE IN MARCH 2023 TO ISO NEW ENGLAND INC. OFFICERS. |
Schedule R IRS990ScheduleR
Id Related Tax Exempt Org IdRelatedTaxExemptOrgGrp
Disregarded Entity Name DisregardedEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ISO NEW ENGLAND INC RETIREE MEDICAL DENTAL AND LIFE TRUST | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | ONE SULLIVAN ROAD | AddressLine1Txt |
| City | HOLYOKE | CityNm |
| State Abbreviation | MA | StateAbbreviationCd |
| ZIP | 01040 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 137379693 | EIN |
| Primary Activities | RETIREE INSURANCE | PrimaryActivitiesTxt |
| Legal Domicile State | MA | LegalDomicileStateCd |
| Exempt Code Section | 501(C)(9) | ExemptCodeSectionTxt |
| Public Charity Status | N/A | PublicCharityStatusTxt |
| Direct Controlling NA | N/A | DirectControllingNACd |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | Yes (1) | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp
Other Organization Name OtherOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ISO NEW ENGLAND INC RETIREE MEDICAL DENTAL AND LIFE TRUST | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transaction Type | R | TransactionTypeTxt |
| Involved | $622,250 | InvolvedAmt |
| Method Of Amount Determination | FMV | MethodOfAmountDeterminationTxt |