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Nonprofit · EIN 56-1275391

NORTH CAROLINA ADVANCED ENERGY CORPORATION

Tax-exempt · RALEIGH, NC 27607

Financials

$8M$8.3M2023$7.9M$8.6M2024
Revenue Expenses · by fiscal year end
Financials of NORTH CAROLINA ADVANCED ENERGY CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$7,935,080$8,579,226-$644,146$9,155,220$1,742,717$7,412,503
December 31, 2023990$8,001,008$8,288,349-$287,341$10,460,302$2,286,299$8,174,003
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$273,746
of which government grants
$273,746
Program service revenue
$7,473,689
Investment income
$187,645
Other revenue
$0

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$810,552
Other salaries and wages
$3,659,344
Salaries, compensation and benefits (total)
$6,466,089
Professional fundraising fees
$0
Legal fees
$65,025
Accounting fees
$69,594
Occupancy
$381,489
Travel
$155,060
Depreciation
$151,557
Program services (functional)
$5,608,427
Management and general (functional)
$2,970,799

Balance sheet and other

Total assets, start of year
$10,460,302
Total assets, end of year
$9,155,220
Total liabilities, end of year
$1,742,717
Net assets, end of year
$7,412,503
Land, buildings and equipment
$1,438,139
Net assets without donor restrictions
$7,412,503
Gross receipts
$7,935,080
Employees
74
Year formed
1980
State of legal domicile
NC

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
BRIAN COBLEPRESIDENT
Officer
40$209,438$57,221
ROBERT GOODSONPRESIDENT- (
Officer
40$223,388$12,345
MICHAEL STOWEENGINEER V
Highest-paid employee
40$146,267$24,207
CHRSTINE MAURERDIR, OPS&ENG
Officer
40$143,364$21,101
SHAWN FITZPATRICKENGINEER V
Highest-paid employee
40$140,064$16,432
EUGENE BUTLERBUS. DEVELP.
Highest-paid employee
40$147,948$8,504
MARIA MAUCERISR MNGR-WEAT
Highest-paid employee
40$128,465$18,984
EMILY ERNST LUNNEDIR, FINANCE
Officer
40$135,372$8,323
MICHAEL LYDASR MNGR-LARG
Highest-paid employee
40$123,243$18,634
ROBERT POWELLCHAIR
Trustee or director, Officer
1$0$0
CHRIS EDGEVICE CHAIR
Trustee or director, Officer
1$0$0
ADAM FOODMANTREASURER
Trustee or director, Officer
1$0$0
KATHARINE KOLLINSSECRETARY
Trustee or director, Officer
1$0$0
JO ANNE SANFORDDIRECTOR
Trustee or director
1$0$0
VENU GHANTADIRECTOR
Trustee or director
1$0$0
6 more people on this return
NameTitleHours / weekCompensation
DIONNE DELLI-GATTIMEMBER-AT-LA
Trustee or director, Officer
1$0
HAYES JERNIGAN FINLEYDIRECTOR
Trustee or director
1$0
PETER LEDFORDDIRECTOR
Trustee or director
1$0
PAUL SPRUILLDIRECTOR
Trustee or director
1$0
GAYLENE WATSONDIRECTOR
Trustee or director
1$0
AMY PICKLEDIRECTOR
Trustee or director
1$0
990 for the year ended December 31, 2023: 18 people
NameTitleHours / weekCompensationOther / benefits
ROBERT GOODSONPRESIDENT &
Officer
40$242,921$14,133
BRIAN COBLECHIEF OP OFF
Officer
40$186,113$18,549
MICHAEL STOWEENGINEER V
Highest-paid employee
40$140,289$22,819
EUGENE BUTLERBUS. DEVELP.
Highest-paid employee
40$143,395$8,266
CHRSTINE MAURERENGINEERING
Highest-paid employee
40$129,577$19,303
SHAWN FITZPATRICKENGINEER III
Highest-paid employee
40$132,319$15,254
ROBERT POWELLVICE CHAIR
Trustee or director, Officer
1$601$0
DIONNE DELLI-GATTIDIRECTOR
Trustee or director
1$500$0
CARL WILKINSSECRETARY
Trustee or director, Officer
1$375$0
JO ANNE SANFORDCHAIR
Trustee or director, Officer
1$250$0
KATHARINE KOLLINSTREASURER
Trustee or director, Officer
1$0$0
CHRIS EDGEMEMBER-AT-LA
Trustee or director, Officer
1$0$0
VENU GHANTADIRECTOR
Trustee or director
1$0$0
HAYES JERNIGAN FINLEYDIRECTOR
Trustee or director
1$0$0
ADAM FOODMANDIRECTOR
Trustee or director
1$0$0
PETER LEDFORDDIRECTOR
Trustee or director
1$0$0
PAUL SPRUILLDIRECTOR
Trustee or director
1$0$0
GAYLENE WATSONDIRECTOR
Trustee or director
1$0$0

Address and contacts

Address (IRS master file)
701 CORPORATE CENTER DRIVE SUITE 40, RALEIGH, NC 27607-5084
Principal officer (990 for 2024)
BRIAN COBLE, 701 CORPORATE CENTER DR STE 400, RALEIGH, NC 27606
Signed the 990
BRIAN COBLE, PRESIDENT
Phone
(919) 857-9000
Return prepared by
MCNAIR MCLEMORE MIDDLEBROOKS & CO LLC

Mission

ADVANCED ENERGY HELPS ALL CUSTOMERS IN NORTH CAROLINA - RESIDENTIAL, COMMERCIAL AND INDUSTRIAL - LOWER COSTS AND ENSURE ENERGY RELIABILITY.

990 for the year ended December 31, 2024

Program accomplishments

  • ENERGY ENGINEERING, CONSULTING AND TESTING
    Expenses $5,608,427

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
56-1275391
Tax-exempt status
501(c)(3): Charitable, religious, educational or scientific organization
Foundation status
Publicly supported organization (509(a)(2))
Donations deductible (Pub 78)
Public charity, 50% deduction limit
Exempt since
1981
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$9,155,220
Income (IRS master file)
$7,935,080

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$7,935,080$8,579,226$9,155,220XML
990December 2023$8,001,008$8,288,349$10,460,302XML
990December 2022$8,369,337$8,811,211$9,435,626IRS
990December 2021–––IRS
990December 2020–––IRS
990December 2018–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 56-1275391).

Questions about NORTH CAROLINA ADVANCED ENERGY CORPORATION

What is the EIN of NORTH CAROLINA ADVANCED ENERGY CORPORATION?
The employer identification number (EIN) of NORTH CAROLINA ADVANCED ENERGY CORPORATION is 56-1275391.
Is NORTH CAROLINA ADVANCED ENERGY CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(3) since 1981.
Are donations to NORTH CAROLINA ADVANCED ENERGY CORPORATION tax-deductible?
Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
Which annual return does NORTH CAROLINA ADVANCED ENERGY CORPORATION file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of NORTH CAROLINA ADVANCED ENERGY CORPORATION due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did NORTH CAROLINA ADVANCED ENERGY CORPORATION last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of NORTH CAROLINA ADVANCED ENERGY CORPORATION?
The 990 for the year ended December 31, 2024 names BRIAN COBLE.
Who are the officers and directors of NORTH CAROLINA ADVANCED ENERGY CORPORATION?
The 990 for the year ended December 31, 2024 lists 21 people; 9 received compensation from the organization, the highest $209,438 (BRIAN COBLE, PRESIDENT).
How much revenue does NORTH CAROLINA ADVANCED ENERGY CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $7,935,080, expenses of $8,579,226 and total assets of $9,155,220 at year end.

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