2025-09-30T15:42:34-05:00 2024-12-31 431985162 SMITH SULLIVAN & BROWN PC 80 FLANDERS ROAD SUITE 302 WESTBOROUGH MA 01581 990 2024-01-01 800388618 HOME ENERGY EFFICIENCY TEAM INC HOME 5169004338 50 MILK STREET 16TH FLOOR BOSTON MA 02109 ZEYNEB MAGAVI EXECUTIVE DIRECTOR 5169004338 2025-09-30 1 1 SANDRA M BROWN CPA P01614103 5088717178 2025-09-25 2024 2025-03-06 01:10:19Z ZEYNEB MAGAVI 50 MILK STREET 16TH FLOOR BOSTON MA 02109 3561896 0 X WWW.HEET.ORG X 2009 MA TO EVOLVE THE ENERGY SYSTEM TO MEET THE NEEDS OF THE FUTURE. 8 8 24 5 0 0 2291633 3528667 20730 6000 5853 27187 1183 -13251 2319399 3548603 0 352875 0 0 978123 1089259 0 0 173005 1154674 1959317 2132797 3401451 186602 147152 2119303 2368908 298953 396371 1820350 1972537 X TO EVOLVE THE ENERGY SYSTEM TO MEET THE NEEDS OF THE FUTURE. 0 0 2813920 352875 6000 WE TOOK A NOVEL METHOD TO REDUCE LEAKED DISTRIBUTION PIPES GAS FROM IDEA TO RESEARCH TO ENACTED REGULATION, CUTTING LOST GAS BY 25% IN THE FIRST STATE DEPLOYED. WE PROPOSED A NOVEL UTILITY USING SINGLE-PIPE AMBIENT GEOTHERMAL NETWORKS THAT ALLOWS EXISTING GAS UTILITIES TO MODERNIZE AND FUTURE-PROOF INFRASTRUCTURE INVESTMENTS WHILE GROWING GOOD JOBS, LOWERING ENERGY COSTS AND EMISSIONS, AND IMPROVING SAFETY, RELIABILITY, SECURITY, HEALTH AND COMFORT. THE FIRST GAS TO GEO INSTALL IS OPERATIONAL AS OF JUNE 2024, NOW SERVING 140 CUSTOMERS, AND THERE IS A RAPIDLY GROWING PROJECT PIPELINE. WE BUILT A TECHNO ECONOMIC MODEL, LAUNCHED A DATABASE, LAUNCHED THE FIRST GEOTHERMAL TECHNICIAN TRAINING, AND DEVELOPED AND LED A SCALABLE COMMUNITY-INITIATED PROJECT APPROACH. WE ARE ENGAGED IN WIDESPREAD EDUCATION, RESOURCE AND POLICY DEVELOPMENT, AS WELL AS ONGOING INNOVATION TO UNLOCK THE AMBIENT THERMAL ENERGY OPPORTUNITY. 2813920 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 18 0 24 1 0 0 0 0 0 0 0 0 0 0 X 8 8 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 1 1 0 MA X NOPALZIN TORRES 6174338088 50 MILK STREET 16TH FLOOR BOSTON MA 02109 ANA MARIA CAMARGO PRESIDENT 1.00 X X 0 0 0 WILLIAM HARKINS TREASURER 8.00 X X 0 0 0 DAVID OLIVER CLERK 1.00 X X 0 0 0 JASON TAYLOR BOARD MEMBER/CONSULTANT 1.00 X 1413 0 0 KAREN MARTIN BOARD MEMBER 1.00 X 0 0 0 MARILYN RAY SMITH BOARD MEMBER 1.00 X 0 0 0 JOHN REINHARDT BOARD MEMBER 1.00 X 0 0 0 HG CHISSELL BOARD MEMBER 1.00 X 0 0 0 AUDREY SCHULMAN CO-EXEC DIRECTOR THRU 3/31/24 40.00 X 29020 0 7936 ZEYNEB MAGAVI EXECUTIVE DIRECTOR 40.00 X 94656 0 0 NOPALZIN TORRES DIRECTOR OF FINANCE 40.00 X 89481 0 13398 214570 0 21334 0 0 0 0 SALAS O'BRIEN NORTH LLC 2720 ARBOR CT EU CLAIRE WI 54701 GEOTHERM CONSULTANT 507814 ALLIANCE FOR SUSTAINABLE ENERGY LLC 15013 DENVER WEST PARKWAY MAILSTOP GOLDEN CO 80401 LEGUP SUBCONTRACTOR 219000 THE REGENTS OF THE UNIV OF CALIFORNIA 1608 FOURTH STREET BERKELEY CA 947201103 LEGUP SUBCONTRACTOR 204269 LAWRENCE BERKELEY NATIONAL LABORATORY 1 CYCLOTRON RD BERKELEY CA 94720 LEGUP SUBCONTRACTOR 139658 EMERGENT URBAN CONCEPTS LLC 13 KENDALL AVE SLEEPY HOLLOW NY 10591 LEGUP PROJECT MGT 108960 5 135006 1928502 1465159 3528667 PROGRAM FEES 900099 6000 6000 6000 27187 27187 0 135006 13293 -13293 -13293 OTHER REVENUE 900099 42 42 42 3548603 6042 0 13894 X 352875 352875 237828 106144 109852 21832 735640 498351 148706 88583 33677 24505 5596 3576 82114 52562 20205 9347 17375 17375 30726 30726 1682692 1594889 45047 42756 41968 14790 27095 83 59855 37708 15563 6584 42979 41062 1806 111 51455 49159 2163 133 5613 5613 MISCELLANEOUS 16366 14392 1974 PROGRAM SUPPLIES AND EX 10288 10108 180 3401451 2813920 414526 173005 1898188 1263069 210375 1029185 10740 54757 21897 2119303 2368908 298953 321371 75000 298953 396371 X 166190 148066 1654160 1824471 1820350 1972537 2119303 2368908 147152 5036 0 X 0 1 X 1 0 X 533542 834197 1756737 2291633 3528667 8944776 533542 834197 1756737 2291633 3528667 8944776 284825 8659951 5853 27187 33040 300000 54693 2504 1183 42 358422 9336238 110975 0.92760 0.84160 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2023 AMOUNT: $ 1,183. 2024 AMOUNT: $ 42. PROCEEDS FROM SETTLEMENT - 2020 AMOUNT: $ 300,000. STIMULUS/COVID CREDITS - 2021 AMOUNT: $ 54,693. 2022 AMOUNT: $ 2,504. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 3553639 5036 5036 3548603 0 3548603 3401452 0 3401452 0 3401452 ANNUAL CELEBRATION 135006 135006 2114 9977 1202 135006 135006 2114 9977 1202 13293 -13293 1 TOWN OF LEXINGTON 1625 MASSACHUSETTS AVE LEXINGTON MA 02420 046001200 LOCAL GOVT 50000 0 KICKSTART GRANTS TOWN OF DEERFIELD 8 CONWAY ST SOUTH DEERFIELD MA 01373 046001126 LOCAL GOVT 25000 0 KICKSTART GRANTS NEW GARDEN PARK INC 89 SHREWSBURY ST STE 300 WORCESTER MA 01604 201727883 501(C)(3) 25000 0 KICKSTART GRANTS PARISH OF ST PETER'S CHURCH 24 SAINT PETER ST SALEM MA 01970 046056566 501(C)(3) 50000 0 KICKSTART GRANTS CITY OF SOMERVILLE 93 HIGHLAND AVE SOMERVILLE MA 02143 046001414 LOCAL GOVT 25000 0 KICKSTART GRANTS CITY OF GLOUCESTER 3 POND RD GLOUCESTER MA 01930 046001390 LOCAL GOVT 25000 0 KICKSTART GRANTS LOWELL HOUSING AUTHORITY 350 MOODY ST LOWELL MA 01854 046003186 GOVT - PHA 25000 0 KICKSTART GRANTS GREEN-NEWTON 897 MAIN ST 590242 NEWTON MA 02460 043075981 501(C)(3) 10000 0 KICKSTART GRANTS TOWN OF ASHLAND 101 MAIN ST ASHLAND MA 01721 046001074 LOCAL GOVT 10000 0 KICKSTART GRANTS TOWN OF ACTON 472 MAIN ST ATTN SUSTAINABILITY ACTON MA 01720 056001062 LOCAL GOVT 10000 0 KICKSTART GRANTS HEETLABS INCORPORATED 21 ACORN ST CAMBRIDGE MA 02139 992296720 501(C)(3) 97875 0 OPERATING SUPPORT 11 0 PART I, LINE 2: KICKSTART GRANTS: IN CONNECTION WITH FUNDING THROUGH THE MASSACHUSETTS CLEAN ENERGY TECHNOLOGY CENTER, THE ORGANIZATION SOLICITED PROPOSALS FROM VARIOUS MUNICIPALITIES AND NONPROFIT ORGANIZATIONS WHO WERE INTERESTED IN CONDUCTING FEASIBILITY STUDIES TO ASSESS POTENTIAL SITES FOR NETWORKED GEOTHERMAL PROJECTS. THE ORGANIZATION SELECTED 12 RECIPIENTS IN 2024 FOR GRANTS OF EITHER $10,000 OR $50,000. THESE GRANTS ARE CONDITIONAL BASED ON SATISFACTORY PROGRESS TOWARDS THE GOALS OF THE GRANT AGREEMENTS. DURING THE YEAR ENDED DECEMBER 31, 2024, $255,000 IS RECOGNIZED AS GRANT EXPENSE. THE REMAINING $125,000 IS EXPECTED TO BE PAID ONCE THE CONDITIONS OF THE GRANTS ARE MET. HEETLABS: HEETLABS INCORPORATED WAS ESTABLISHED IN 2024 AS AN INDEPENDENT CHARITABLE ORGANIZATION TO CONTINUE THE WORK WHICH BEGAN AS HEET INCUBATOR PROJECTS. HEET ASSISTED WITH THE STARTUP OF THE NEW ORGANIZATION AND ENTERED INTO A GRANT AGREEMENT EFFECTIVE APRIL 1, 2024 FOR 24 MONTHS. UNDER THE GRANT AGREEMENT, HEET WILL PROVIDE FUNDING UP TO $261,000 TO SUPPORT THE OPERATIONS OF HEETLABS. THE ULTIMATE FUNDING MAY VARY IN ACCORDANCE WITH THE GRANT TERMS. HEET'S CO-FOUNDER TRANSITIONED TO HEETLABS AS ITS EXECUTIVE DIRECTOR PURSUANT TO A TRANSITION AGREEMENT. IT IS THE INTENTION OF BOTH ORGANIZATIONS THAT WHILE THERE MAY BE OPPORTUNITIES FOR COLLABORATION, HEETLABS WILL OPERATE INDEPENDENTLY OF HEET WITH ITS OWN GOVERNANCE AND FUNDING STREAMS. DURING THE YEAR ENDED DECEMBER 31, 2024, HEET PAID HALF OF THE MAXIMUM GRANT COMMITMENT, OF WHICH AMOUNT, $97,875 IS RECOGNIZED AS GRANT EXPENSE AND $32,625 IS CARRIED AS A PREPAID EXPENSE. FORM 990, PART VI, SECTION B, LINE 11B COPIES OF THE AUDITED FINANCIAL STATEMENTS AND DRAFT FORM 990 WERE DISTRIBUTED TO THE ORGANIZATION'S BOARD OF DIRECTORS FOR APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD REVIEWS THE POLICIES ANNUALLY AND HAS ALL BOARD MEMBERS FILL OUT AND SIGN A CONFLICT OF INTEREST POLICY EACH YEAR THAT IS THEN REVIEWED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 BOARD MEMBERS APPROVE THE CO-DIRECTOR SALARIES USING COMPARABLE DATA FOR ORGANIZATIONS OF SIMILAR SIZE AND MISSION. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FORM 1023 AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. TAX FILINGS AND FINANCIAL STATEMENTS AVAILABLE ON THE MASSACHUSETTS ATTORNEY GENERALS WEBSITE. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 162,231. MANAGEMENT AND GENERAL EXPENSES 45,047. FUNDRAISING EXPENSES 42,756. TOTAL EXPENSES 250,034. SUBCONTRACTED RESEARCH: PROGRAM SERVICE EXPENSES 1,432,658. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,432,658.