2025-11-17T18:41:47+00:00 2024-12-31 135381590 BDO USA 200 PARK AVE 38TH FLOOR NEW YORK NY 10166 990 2024-01-01 873398574 EFI FOUNDATION EFIF 2026880010 900 17TH STREET NW SUITE 1100 WASHINGTON DC 20006 JOSEPH S HEZIR EVP AND TREASURER 2026880010 2025-11-18 true PAUL HAMMERSCHMIDT P01384178 2128858000 2025-11-17 2024 2025-03-06 01:10:19Z JOSEPH S HEZIR 900 17TH STREET NW SUITE 1100 WASHINGTON DC 20006 14011996 false X WWW.efifoundation.org X 2021 DC Educating the public on innovative evidence-based technology and policy solutions to complex energy challenges, combining rigorous analysis with a pragmatic approach to bridge the gap towards a low carbon energy future. 7 5 43 5 0 4136283 2963548 0 10804174 0 0 0 244274 4136283 14011996 0 0 0 0 3147778 3328651 0 0 160691 2060714 8790816 5208492 12119467 -1072209 1892529 2715958 5193792 1901061 2134531 814897 3059261 false false 9689681 0 10804174 In 2024, the three principal program service areas included clean energy finance, federal energy innovation program management, and clean hydrogen market formation. The Energy Futures Finance Forum (EF3) is a novel effort to identify policies and measures to expand the attractiveness of investment opportunities in clean energy to a broader cross-section of the investment community. The foundation issued several reports on this topic, including a framework report identifying potential additional sources of clean energy finance and a report on identifying opportunities to enhance investment opportunities in industrial carbon capture and storage. In 2024, the Foundation launched a new multi-year effort, the Nuclear Scaling Initiative, together with the Clean Air Task Force and the Nuclear Threat Initiative, to enable the expanded deployment of new nuclear energy generation. The foundation formed the Hydrogen Demand Initiative (H2DI), a consortium of six entities, to develop a novel program design to stimulate creation of new markets for clean hydrogen. The consortium conducted an extensive market assessment with outreach efforts to over 200 companies that expressed interest in hydrogen market formation. The project was a follow-on to previous work to identify the need for new policies and programs to enable the formation of regional markets for clean hydrogen in power generation, industrial, and commercial applications. Finally, the foundation continued work on a major study initiative on opportunities to improve the effectiveness, efficiency, and agility of federally funded energy innovation programs and projects. 9689681 true true false false false false false false false false true false false true true true true false false false false false false false false false false false false true false false false false false false false false false false false false false false false false false false false false true 20 0 true 43 true false false false false false false false false false false false false X 7 5 true false false false false false false true true false false false true true true true true true true true false false DC X EFI FOUNDATION 2026691563 900 17TH STREET NW SUITE 1100 WASHINGTON DC 20006 Ernest J Moniz CEO and Director 10.0 X X 123958 0 0 Joseph S Hezir EVP and Treasurer 24.0 X X 169250 0 0 Melanie A Kenderdine EVP and Secretary (thru 4/30/24) 20.0 X X 64606 0 0 Charles Curtis Director 1.0 X 0 0 0 Clint Vince Director 1.0 X 0 0 0 Jeanette Pablo Director 1.0 X 0 0 0 KAREN WAYLAND DIRECTOR (AS OF 7/30/24) 1.0 X 0 0 0 Richard Meserve Director 1.0 X 0 0 0 Alexander Kizer Senior Vice President 40.0 X 285105 0 22414 David Ellis SVP of Policy Strategy/Outreach 40.0 X 220891 0 23414 Stephen Comello SVP, Strategic Initiatives 40.0 X 235239 0 31026 Jeffery Brown Managing Director 20.0 X 157455 0 0 Madeline Shomburg Director of Research 40.0 X 172510 0 36384 Michael Downey Deputy Director of Research 40.0 X 127760 0 23000 Minji Jeong Research Specialist 40.0 X 108892 0 31515 Tatiana Bruce De Silva Project Manager 40.0 X 114669 0 5733 1780335 0 173486 12 false true false S&P Global Inc 15 Inverness Way East Englewood CA 80112 Technical and Project Management Support 2327556 Rocky Mountain Institute 1620 Dodge Street Omaha NE 63197 Technical and Project Management Support 1500000 LevelTen Energy 2211 Elliott Avenue suite 110 Seattle WA 98121 Technical and Project Management Support 667793 Dentons LLP 1900 K Street NW Washington DC 20006 legal 647770 Holland & Knight LLP PO Box 936937 Atlanta GA 31193 legal 359518 13 2963548 2963548 Revenue from Contracts with Customers 541900 10804174 10804174 0 0 0 0 10804174 0 0 0 0 rent reimbursement 900099 182584 182584 other income 900099 61690 61690 0 0 0 0 244274 14011996 10804174 0 244274 X 1175903 1175903 1013971 88111 870715 55145 103939 58396 42830 2713 807899 420227 364582 23090 226939 127501 93515 5923 201848 201848 270322 270322 6178980 5668787 510193 0 47538 26708 19589 1241 107197 60226 44173 2798 482834 271271 198962 12601 239154 175023 13953 50178 67245 37780 27710 1755 24214 13604 9978 632 11831 6647 4875 309 22124 12430 9117 577 Project specific expense 910006 910006 Equipment and furniture 81078 45552 33410 2116 Advisory board meetings 51977 51977 PUBLIC OUTREACH 32600 32600 61868 34762 25493 1613 12119467 9689681 2269095 160691 1612744 250105 3650286 787756 193985 0 0 0 0 6466 16004 59896 23097 1326 36799 0 0 41070 860367 452842 2715958 5193792 311446 1807317 0 0 1589615 327214 1901061 2134531 -427915 1542084 1242812 1517177 814897 3059261 2715958 5193792 1892529 351835 0 X false true true false X 0 0 3416194 4136283 2963548 10516025 0 0 0 0 3416194 4136283 2963548 10516025 3666480 6849545 0 0 0 0 0 0 244274 244274 10760299 10804174 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - RENT REIMBURSEMENT, COLUMN A - 0.0, COLUMN B - 0.0, COLUMN C - 0.0, COLUMN D - 0.0, COLUMN E - 182584.0, COLUMN F - 182584.0; DESCRIPTION - MISCELLANEOUS REVENUE, COLUMN A - 0.0, COLUMN B - 0.0, COLUMN C - 0.0, COLUMN D - 0.0, COLUMN E - 61690.0, COLUMN F - 61690.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 6246 2537 3709 53650 20560 33090 36799 due from related party 112457 security deposits 10239 Right-of-use assets, operating leases 322006 other assets 8140 452842 Federal Income Taxes Operating lease liabilities 327214 327214 X 14011996 0 0 14011996 0 0 14011996 12119467 0 0 12119467 0 0 12119467 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote Under the provisions of FASB ASC Topic 740, Income Taxes (ASC 740), the Foundation is required to disclose unrecognized tax benefits. Management has evaluated the effect of the guidance provided by ASC 740 and all other tax positions that could have a significant effect on the financial statements and determined the Foundation had no material uncertain tax positions at December 31, 2024, that require disclosure or recognition. Generally, the Foundation's tax returns remain open and subject to examination for three years from the filing date. X X X X false false false false false false false false false Joseph S Hezir EVP and Treasurer 169250 0 0 0 0 0 0 0 0 0 169250 0 0 0 Stephen Comello SVP, Strategic Initiatives 235239 0 0 0 0 0 0 0 31026 0 266265 0 0 0 David Ellis SVP of Policy Strategy/Outreach 220891 0 0 0 0 0 0 0 23414 0 244305 0 0 0 Alexander Kizer Senior Vice President 285105 0 0 0 0 0 0 0 22414 0 307519 0 0 0 Jeffery Brown Managing Director 157455 0 0 0 0 0 0 0 0 0 157455 0 0 0 Michael Downey Deputy Director of Research 127760 0 0 0 0 0 0 0 23000 0 150760 0 0 0 Madeline Shomburg Director of Research 172510 0 0 0 0 0 0 0 36384 0 208894 0 0 0 Form 990, Part III, Line 1 Briefly describe the organization's mission EFI Foundation is a Washington, DC-based nonprofit 501(c)(3) organization dedicated to educating the public on innovative evidence-based technology and policy solutions to complex energy challenges. The foundation's work combines rigorous analysis with a pragmatic approach to bridge the gap towards a low carbon energy future. The EFI Foundation and its predecessor organization (the Energy Futures Initiative) has released over fifty public reports on energy security and policy innovation, conducted over a hundred workshops and educational webinars, and informed the creation of a number of new governmental initiatives. Under the leadership of Ernest J. Moniz, the 13th U.S. Secretary of Energy, foundation personnel have decades of experience and proven track records in government, academia, and the private sector. EFI Foundation adheres to the principle of analytical independence while focusing on solutions that are effective, pragmatic, equitable, and acceptable to the broadest range of stakeholders. Our research team and global network of multidisciplinary experts understand current energy markets, trends, and needs, and apply this collective talent and knowledge to a range of policy questions. EFI Foundation builds on the prior work of the Energy Futures initiative, founded in 2017. Form 990, Part VI, Line 15 Lines 15a and 15b, Compensation review and approval process The Foundation has a Compensation Committee composed of three independent directors on the Board who receive no compensation from the Foundation and have no other conflicts of interest. The Compensation Committee is responsible for approving the compensation of all disqualified persons (including those listed in Part VI, Section B, Lines 15a and 15b) in advance. Prior to making its determination, the Committee obtains and relies on appropriate comparability data, using a study developed from Form 990s of similarly situated public charities showing compensation paid to persons in similar positions. The Committee adequately and timely documents the basis for its determination concurrently with making compensation decisions, in the form of meeting minutes and committee resolutions. Form 990, Part VI, Line 2 Joseph S. Hezir, Ernest J. Moniz, and Melanie A. Kenderdine (EVP and Secretary thru 4/30/24) maintained a business relationship during the tax year. Form 990, Part VI, Line 11b Review of form 990 by governing body Form 990 was prepared by a nationally recognized accounting firm in conjunction with the organization's financial department. The draft Form 990 was reviewed by the Treasurer for accuracy and completeness, then provided to the Audit Committee of the Board of Directors for review before being distributed to the full Board prior to filing with the Internal Revenue Service. Form 990, Part VI, Line 12c Conflict of interest policy For board members, a conflict of interest review is conducted during the annual board meeting. For staff, the Foundation requires employees to sign the handbook acknowledging that they have read and agree to follow its policies, including the mandatory reporting of any conflicts of interest. Form 990, Part VI, Line 19 Required documents available to the public THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. Form 990, Part IX, Line 11g Other Fees CONSULTANTS - Total Expense: 6178980, Program Service Expense: 5668787, Management and General Expenses: 510193, Fundraising Expenses: 0; Form 990, Part XI, Line 8 The increase in net assets of $351,835 is a result of additional 2023 program service revenue that qualifies as related revenue for Form 990 reporting. This adjustment was recorded following the completion of the financial statement audit and after the 2023 Form 990 was filed, and is consistent with the 2023 audited financial statements.