Non-profit

Ecority

Website:

www.ecority.org/

Location:

San Antonio, TX

Tax ID:

92-0812171

Tax-Exempt Status:

501(c)(3)

Type:

Environmentalist Funding Organization

Formation:

2022

Executive Director:

Chuck Purvis

Budget (2023):

Revenue: $1,033,210

Expenses: $1,009,763

Assets: $130,397 13

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Ecority is a left-of-center nonprofit that was established to leverage and scale the Biden administration’s Environmental Protection Agency (EPA)-administered Greenhouse Gas Reduction (GHGR) Fund. Its members include a national network of credit unions, community development financial institutions (CDFI), and “green banks.” 1 2

Ecority aims to provide financing opportunities for climate-related investments in the United States through federal funding programs such as the GHGR Fund. 2 As of June 2024, Ecority’s coalition has customers in 43 states with a network of nearly 600 community branches. 3

History and Leadership

Ecority was founded in 2022 4 and given tax-exempt status by the Internal Revenue Service in 2024. 5

Chuck Purvis has been the interim chief executive officer of Ecority since October 2023. 6 Prior to joining Ecority, Purvis was the president and chief executive officer of Coastal Federal Credit Union. 7

Ecority is headquartered in San Antonio, Texas. 2

Activities and Funding

Ecority is a left-of-center nonprofit that was established to leverage and scale the Biden administration’s Environmental Protection Agency (EPA)-administered Greenhouse Gas Reduction (GHGR) Fund’s National Clean Investment Fund, which has been called a national “green bank.” 1 The organization consists of a national network of credit unions and community development financial institutions (CDFI) to expand climate-related investments in the United States. 2

 

Ecocity supports ending the financing of greenhouse gas emissions by working with credit unions and CDFIs across the United States. 3 The organization acts in accordance with the far-left Justice40 mandate, in which 40 percent of its efforts would target low-income and traditionally underrepresented communities. 8

As of June 2024, Ecority’s coalition has customers in 43 states, with a network of nearly 600 community branches. 9 Ecority claims it can leverage the balance funds of every credit union and CDFI in the United States by using loan recourse guarantees, portfolio risk management, and reserves allocation. 8

Ecority’s network members plan to deploy EPA funding through investments in weather-dependent energy projects and low-income communities. With proper implementation, Ecority’s NCIF program could result in more than $100 billion of GHGR-eligible projects receiving funding. The organization has encouraged the EPA to cap pass-through charges for “green banks” 10 and its application for federal funding was endorsed by the National Association of Federally Insured Credit Unions, the Credit Union National Association, and supported by the Community Foundation Climate Collaborative. 11

In 2023, Ecority applied for an aggregate of $14.87 billion in grant funding from the EPA’s GHGR Fund to support its efforts, 2 which promote so-called “green banks” that focus on climate and environmentalist-related activities. Forty percent of Ecority’s grant funding request is directed towards commercial and industrial investment. 8 Ecority claimed its loan origination and service platform would allow credit unions and CDFIs access to federally supported loan programs managed by Ecority as the eligible EPA grant recipient.  3

In 2023, Ecority spent $962,806 on financial assistance and support for organizations to support the rapid deployment of weather-dependent energy and other technologies to reduce greenhouse gas emissions and air pollution. 12

Funding

Ecority receives funding from contributions and grants. In 2023, the organization reported revenue of $1,033,210 and expenses of $1,009,763. Ecority received $130,000 of contributions and grants in 2022. 13

References

  1. Chemnick, Jean. “Here’s who wants to run the country’s $14B ‘green bank’.” E&E News by Politico. November 6, 2023. Accessed July 1, 2024. https://www.eenews.net/articles/heres-who-wants-to-run-the-countrys-14b-green-bank/.
  2. Purvis, Chuck. “Green Lending: An Opportunity to Ignore.” ALM Credit Union Times. January 8, 2024. Accessed June 28, 2024. https://archive.md/ZjFZ5#selection-1011.0-1015.181.
  3. “Home.” Let’s finance the end of Greenhouse Gas. Now.” Ecocity. Accessed June 28, 2024. https://www.ecority.org/.
  4. “Ecority.” CauseIQ. Accessed June 28, 2024. https://www.causeiq.com/organizations/ecority,920812171/.
  5. “Letter of Determination.” Department of Treasury Internal Revenue Service. February 2024. Accessed June 28, 2024. https://apps.irs.gov/pub/epostcard/dl/FinalLetter_92-0812171_ECORITY_06212023_00.pdf.
  6. “Chuck Purvis.” LinkedIn Profile. Accessed June 28, 2024. https://www.linkedin.com/in/chuck-purvis-11535b5/.
  7. “Chuck Purvis to lead Ecority as Interim CEO.” CUInsight. November 15, 2024. Accessed June 28, 2024. https://www.cuinsight.com/press-release/chuck-purvis-to-lead-ecority-as-interim-ceo/.
  8. “Home.” Who Is Ecority. Ecority. Accessed June 28, 2024. https://www.ecority.org/.
  9. “Home.” Let’s finance the end of Greenhouse Gas. Now.” Ecority. Accessed June 28, 2024. https://www.ecority.org/.
  10. “Ecority Will Catalyze a National Network of Credit Unions and State-Chartered Green Banks to Deploy Clean Energy Projects Through the EPA Greenhouse Gas Reduction Fund.” Ecority. November 3, 2023. Accessed June 28, 2024. https://www.businesswire.com/news/home/20231103261804/en/Ecority-Will-Catalyze-a-National-Network-of-Credit-Unions-and-State-Chartered-Green-Banks-to-Deploy-Clean-Energy-Projects-Through-the-EPA-Greenhouse-Gas-Reduction-Fund.
  11. Baxter, Amy .” Ecority Aims to Deploy Clean Energy Projects with EPA Funding.” Environment and Energy Leader. November 6, 2023. Accessed Jun 28, 2024. https://www.environmentenergyleader.com/2023/11/ecority-aims-to-deploy-clean-energy-projects-with-epa-funding/.
  12.  “Ecority.” Return of Organization Exempt From Income Tax. (Form 990). 2023. Part III. https://www.causeiq.com/organizations/view_990/920812171/ad1f338659136bfc7dd545613bbb743b.
  13.   “Ecority.” Return of Organization Exempt From Income Tax. (Form 990). 2023. Part I. https://www.causeiq.com/organizations/view_990/920812171/ad1f338659136bfc7dd545613bbb743b
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Nonprofit Information

  • Accounting Period: December - November
  • Tax Exemption Received: February 1, 2024

  • Available Filings

    No filings available.

    Ecority

    1730 Broadway
    San Antonio, TX 78215-1438