INTRODUCTION Predicting the electronic structure of the molecules is one of the most important contributions of quantum chemistry to other disciplines of science, e.g., spectroscopy, molecular physics, or biochemistry. The calculation of electronic excitations is of particular interest for scientists studying molecular systems, especially those designing new materials. While in recent years a significant progress has been made in this area,theexistingmethodsofcalculatingexcitationenergiesof molecules are often not sufficiently accurate or too expensive to apply to a system of interest. Although ab initio methods such as complete-active-space second-orderperturbationtheory(CASPT2)ormethodsbased on coupled cluster theory allow one to make accurate predictions for excitation energies of molecules, they are still prohibitively expensive computationally. Other routinely used methods are based on the time-dependent density functional theory (TDDFT). They have become the method of choice for predicting excitation energies of different systems mainly due to their relatively low computational cost and reasonable accuracy for some excitations. Most TDDFT methods rely on the adiabatic approximation and consequently they usually failindescribingstatesofmulticonfigurationalcharacter.Also, theproblematicbehaviorofcharge-transferandRydbergstates canbetracedbacktothewrongasymptoticsoftheapproximate local potential underlying the method. A few remedies have beenproposedtocuresomeoftheproblemsofapproximations to TDDFT but, in general, their accuracy still lags behind ab initio methods. The above problems signal a need for different methods of calculation. This brings in the spotlight Theophilou’s