Charity Search / EVERGREEN CLIMATE INNOVATIONS
Environment (C35) IRS Verified DX Registered 990 on File

EVERGREEN CLIMATE INNOVATIONS

EIN: 27-2378677 · CHICAGO, IL 60642-8100 · United States · FY 2024 Data
3 out of 5 58 / 100 Based on 2+ years of filings
Financial strength (30%) 92/100
Reliability (20%) 50/100
Effectiveness (25%) 81/100
Impact (25%) No data yet
Financial data: FY 2024 · Scored 9/13/2026
CharityAI™ Score
Not yet evaluated
Mission Statement

Clean Energy Trust is a cleantech accelerator that fuels innovation to create a healthier environment and more prosperous future. We launch, fund, and grow early stage clean energy businesses in the Midwest through direct investment, venture development, and advocacy. Clean Energy Trust is a 501C3 public charity. Our unique funding model gives our fund the flexibility to invest in earlier-stage technology than traditional funds. Our philosophy is to be “first money in” and work closely with promising young companies to achieve growth milestones and successful exits. We have developed unique relationships with investors, labs, large corporations, and entrepreneurs to source quality companies for investment. We rely upon a broad pool of scientific and business experts to evaluate their investment potential. To date, CET has awarded over $3M in funding to 29 clean energy startups. Startups benefitting from our programs have gone on to raise an additional $86M in follow on funding – and have created over 300 jobs. We specialize in commercializing research from labs and universities into the market. We invest between $50 – $500k in seed stage rounds to enable startups to develop a prototype or complete a market milestone to attract further investment. The U.S. Department of Energy has consistently ranked Clean Energy Trust as one of the best accelerators in the country. Our staff and Board of Directors are passionate about changing the future of energy and business through innovation, and we hope you join us on this mission.

Financial Overview — FY 2024
$3.7M
Total Revenue
$3.2M
Total Expenses
$15.7M
Net Assets
11
Employees
Revenue Sources
Expense Breakdown
Program Expense Ratio 78.4%
Fundraising Efficiency N/A
Operating Reserve 59.44x
Liability-to-Asset 18.4%
Revenue Diversification 95.3%
Executive Compensation $983K
Compared with Peers
FY 2024
Compared with 1,437 similar organizations (United States, Environment, $1M–$10M in expenses), FY 2024.
This organization Middle half of peers (P25–P75) Peer median
Ratio This org Peer median Position (P10 → P90)
Program expense ratio
Program expenses / total expenses · higher is better
78.4% 82.0%
P10P90
Below median
Admin expense ratio
Management and general / total expenses · lower is better
7.1% 12.3%
P10P90
Top quarter
Fundraising expense ratio
Fundraising expenses / total expenses · lower is better
14.5% 3.8%
P10P90
Bottom quarter
Operating reserve
Months of expenses covered by net assets · higher is better
59.4 mo 13.3 mo
P10P90
Top quarter
Liabilities to assets
Total liabilities / total assets · lower is better
18.4% 8.5%
P10P90
Below median
Revenue concentration
Share of revenue from the largest source · lower is better
95.3% 90.7%
P10P90
Below median
Revenue growth
Year over year revenue growth
89.5% 11.6%
P10P90
Expense growth
Year over year expense growth
2.3% 12.9%
P10P90
Surplus margin
Surplus as a share of revenue
13.7% 4.5%
P10P90
Financial History
Year Revenue Expenses Net Assets Program % Staff
2024 $3.7M $3.2M $15.7M 78.4% 11
2023 $1.9M $3.1M $12.1M 79.2% 10
2022 $4.4M $2.8M $12.2M 81.2% 10
2021 $4.4M $2.1M N/A — 10
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Organization Details
EIN
27-2378677
State
IL
City
CHICAGO
ZIP
60642-8100
Classification
C35
Category
Environment
Rating
3★
Coverage
A
Last Updated
Aug 2026
IRS Ruling Year
2010
Foundation Code
15
Form 990
On File
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