Overview
What is People's Solar Energy Fund?
People's Solar Energy Fund, based in Florence, Massachusetts, is a nonprofit organization dedicated to facilitating community-based and community-owned solar projects, primarily in communities of color. They provide technical assistance and financing to their member organizations, helping them overcome barriers in project development. The organization keeps track of federal opportunities and offers assistance in packaging proposals to pursue federal funds, which could unlock significant opportunities for their members. People's Solar Energy Fund is actively pursuing strategic partnerships with philanthropic funders and other aligned partners to maximize these opportunities and catalyze further funding for primarily BIPOC communities. Their mission is to build a scalable system of support for community-led and community-owned solar projects, contributing to cleaner, more affordable energy, job creation, community asset development, and a more democratized energy system.
Official website here: www.psef.network
What are the reviews and ratings of this charity?
Charity Navigator Rating: 75% (Three-Star out of Four Star rating)
The People's Solar Energy Fund earned a Three-Star rating from Charity Navigator, indicating a solid level of accountability and financial health. The score is based entirely on its Accountability & Finance, where it received a score of 75 out of 100. This rating reflects the organization's commitment to maintaining a majority independent board and strong financial oversight.
Strengths of the organization include its fully independent board and effective whistleblower, conflict of interest, and document retention policies. Furthermore, the organization has demonstrated no material diversion of assets, which contributes to its trustworthiness. The financial statements are well audited, ensuring transparency and accountability in operations.
However, the organization faces a challenge with its program expense ratio, which stands at 52.85%, indicating that a smaller portion of its expenses is directed towards its programs compared to administrative costs. This may raise questions for potential donors regarding the impact of their contributions. Overall, while the People's Solar Energy Fund shows strengths in governance and financial practices, it may need to enhance its program expenditure to further improve its rating.
This AI summary has been generated from information found on Charity Navigator.
Is People's Solar Energy Fund legitimate?
People's Solar Energy Fund is a legitimate nonprofit organization registered as a 501(c)(3) entity. People's Solar Energy Fund submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $270,693
Professional Fundraising Fees: $0
Other Salaries and Wages: $160,866
For more financial information, click here
Official website here: www.psef.network
What is the mission statement of People's Solar Energy Fund?
The People's Solar Energy Fund provides non-extractive financing, technical assistance, and discounted services to establish a scalable system of support for community-led and community-owned solar projects. The focus is on projects that benefit low-income and minority communities, contributing to cleaner and more affordable energy, job creation, community asset development, and a more democratized energy system. This organization aims to make solar energy more accessible, fostering a more sustainable and equitable energy landscape.
Official website here: www.psef.network
Who is the CEO of People's Solar Energy Fund?
Timothy Denherder-Thomas is the Board Chair of People's Solar Energy Fund.
Official website here: www.psef.network
What is the revenue of People's Solar Energy Fund?
People's Solar Energy Fund's revenue in 2022 was $754,677.
Official website here: www.psef.network
Who are the executives of People's Solar Energy Fund and what are their salaries?
The average compensation at People's Solar Energy Fund during 2022 was $86,312. There are 5 employees at People's Solar Energy Fund.
Here are 16 key members and their salaries:
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Official website here: www.psef.network
Where can I find the form 990 for People's Solar Energy Fund?
People's Solar Energy Fund's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.psef.network
Learn more at the official website: www.psef.network
Mission Statement of People's Solar Energy Fund
People's Solar Energy Fund, an organization committed to fostering a more equitable and sustainable energy system, provides non-extractive financing, technical assistance, and discounted services to support community-led and community-owned solar projects. The primary focus of their mission is to benefit low-income and communities of color, contributing to cleaner and more affordable energy, job creation, community asset development, and a more democratized energy system. By implementing a scalable system of support, People's Solar Energy Fund aims to empower these communities to take control of their energy needs and contribute to a more equitable energy sector.
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Impact
July, 2024
People's Solar Energy Fund's impact can be seen in the support it provides to community-led and community-owned solar projects, particularly in low- or moderate-income communities and communities of color. By offering non-extractive financing, technical assistance, and discounted services, the fund is contributing to a cleaner and more affordable energy system. Moreover, the emphasis on job creation, community asset development, and democratizing the energy sector further highlights the fund's positive impact on underserved communities. Through strategic partnerships and federal funding pursuits, People's Solar Energy Fund is working to scale up its support and facilitate the development of more community solar projects, thereby promoting sustainability and equity in the energy sector.
This information is meant to be a general summary of People's Solar Energy Fund. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $400
- Program Service Revenue: $16,277
- Gross Receipts: $754,677
Assets and Liabilities:
- Total Assets: $934,788
- Total Liabilities: $86,953
- Net Assets: $847,835
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
PROGRAM FEES
Revenue
$13,777
PROGAMMATIC INVESTMENT INCOME
Revenue
$2,500
Organization Details
Founding Year
2019
Phone
(203) 916-3490Principal Officer
Timothy Denherder-Thomas
Main Address
296 NONOTUCK STREET STE 4, FLORENCE, MA, 01062
Website
www.psef.networkNTEE Category
Code: W80 - Public benefit
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