Investment from Gates Family Foundation and Funding Partners will help iCAST create new energy efficiency program for nonprofits
March 20, 2012 - iCAST (International Center for Appropriate and Sustainable Technology) announces the launch of ResourceSmart for Nonprofits, an energy efficiency improvement program that will provide energy efficiency upgrades to nonprofit organizations across Colorado. The Gates Family Foundation’s program-related investment (PRI) will allow iCAST to provide low-interest, long-term, financing solutions to nonprofit applicants through Funding Partners. The program offers a simple solution to help nonprofits save on utility costs by reducing energy use.
“We are excited to support the creation of a new resource that will allow nonprofit organizations to enhance energy use, comfort, and savings in the facilities they own.” said Tom Gougeon, Gates Family Foundation President.
Designed as an all-encompassing approach to energy efficiency improvements, ResourceSmart for Nonprofits manages every step of the process, including conducting energy assessments of the property, a comprehensive report on payback, access to low-cost loans, recruitment and management of sub-contractors and their work, and project quality control throughout the duration of the project. The program also provides rebates, incentives, and savings packages to help nonprofits see actual cost savings from day one - savings that will continue to grow as energy prices rise.
“iCAST is proud to launch the ResourceSmart for Non-Profits program in partnership with the Gates Family Foundation and Funding Partners,” said Ravi Malhotra, President and founder of iCAST, “This program will provide a self-sustaining route to help nonprofits save money while providing a better environment to their clients.”
“This partnership is a tremendous example of Coloradans helping Coloradans. Three community-focused organizations working in close participation to deliver tangible benefits to other groups that in turn deliver valuable services to our residents in greatest need,” said Joe Rowan, Executive Director of Funding Partners, “This program showcases an occasion where the nonprofit community is leading by example to address a common concern.”
For more information on the program, please visit www.resourcesmart.org. Nonprofits such as social service organizations, charter schools, community facilities, etc. interested in participating in the program can contact iCAST at [email protected] or calling 1-866-590-4377.
