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Nonprofiteer
← PEOPLES SOLAR ENERGY FUND

Form 990 for tax year 2024

Filed by PEOPLES SOLAR ENERGY FUND.

Totals

Total revenue
$1,580,199
Total expenses
$1,039,554
Contributions and grants received
$1,550,000
Grants paid
$87,000
Program service revenue
$13,257
Investment income
$16,942
Other revenue
$0
Total assets, end of year
$2,595,766
Total liabilities, end of year
$569,094
Net assets or fund balances, end of year
$2,026,672
Program services expenses (Part IX)
$699,752
Management and general expenses
$267,784
Fundraising expenses
$72,018
Program service expenses (Part III)
$699,752

Program services were 67.3% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $1,550,000

  • 2a · Program service revenue: PROGAMMATIC INVESTMENT INCOME

    total $11,957 · related or exempt $11,957

  • 2b · Program service revenue: PROGRAM FEES

    total $1,300 · related or exempt $1,300

  • 3 · Investment income

    total $16,942 · excluded $16,942

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $87,000 · program services $87,000

  • 5 · Compensation of officers, directors and key employees

    total $307,304 · program services $169,893 · management and general $92,191 · fundraising $45,220

  • 7 · Other salaries and wages

    total $326,582 · program services $234,215 · management and general $86,934 · fundraising $5,433

  • 8 · Pension plan contributions

    total $11,518 · program services $4,974 · management and general $5,372 · fundraising $1,172

  • 9 · Other employee benefits

    total $14,076 · program services $6,952 · management and general $4,994 · fundraising $2,130

  • 10 · Payroll taxes

    total $59,201 · program services $33,565 · management and general $21,595 · fundraising $4,041

  • 11b · Fees: legal

    total $29,135 · program services $23,059 · management and general $6,076

  • 11c · Fees: accounting

    total $14,360 · management and general $14,360

  • 11e · Fees: professional fundraising services

    total $14,022 · fundraising $14,022

  • 11g · Fees: other

    total $73,973 · program services $71,553 · management and general $2,420

  • 13 · Office expenses

    total $6,467 · program services $3,811 · management and general $2,656

  • 14 · Information technology

    total $17,892 · program services $5,219 · management and general $12,673

  • 16 · Occupancy

    total $3,719 · program services $1,750 · management and general $1,969

  • 17 · Travel

    total $60,075 · program services $54,003 · management and general $6,072

  • 20 · Interest

    total $3,755 · program services $3,755

  • 23 · Insurance

    total $10,246 · management and general $10,246

  • 24a · Other expenses: BANK FEES

    total $229 · program services $3 · management and general $226

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $734,558 · end of year $2,069,195

  • 2 · Savings and temporary cash investments

    beginning of year $534,986 · end of year $44,005

  • 3 · Pledges and grants receivable

    end of year $150,000

  • 4 · Accounts receivable

    beginning of year $83,214 · end of year $119,601

  • 13 · Investments: program-related

    beginning of year $226,650 · end of year $212,965

  • 17 · Accounts payable and accrued expenses

    beginning of year $38,425 · end of year $19,094

  • 24 · Unsecured notes and loans payable

    beginning of year $50,000 · end of year $550,000

  • 27 · Net assets without donor restrictions

    beginning of year $1,158,683 · end of year $1,919,372

  • 28 · Net assets with donor restrictions

    beginning of year $332,300 · end of year $107,300

Mission and programs · 2024

Mission

PEOPLE'S SOLAR ENERGY FUND, INC. PROVIDES NON-EXTRACTIVE FINANCING, TECHNICAL ASSISTANCE AND BULK-PURCHASING DISCOUNTED SERVICES TO BUILD A SCALABLE SYSTEM OF SUPPORT FOR COMMUNITY-LED AND COMMUNITY-OWNED SOLAR PROJECTS. THE EMPHASIS IS ON PROJECTS BENEFITING LOW- OR MODERATE-INCOME COMMUNITIES AND COMMUNITIES OF COLOR, CONTRIBUTING TO CLEANER AND MORE AFFORDABLE ENERGY, JOB CREATION, COMMUNITY ASSET DEVELOPMENT, AND A MORE DEMOCRATIZED ENERGY SYSTEM.

  • TRAINING THROUGH CAPACITY BUILDING PSEF HAS MADE INCREDIBLE STRIDES IN SUPPORTING COMMUNITY BASED ORGANIZATIONS (CBOS) IN BUILDING CAPACITY AND INFRASTRUCTURE TO ADVANCE MORE COMMUNITY SOLAR PROJECTS. THROUGH HANDS-ON SUPPORT FROM PSEF STAFF, TECHNICAL ASSISTANCE, PEER LEARNING GROUPS, AND WEBINARS LED BY EXPERTS IN THE FIELD, APPROXIMATELY 75% OF PARTICIPANT ORGANIZATIONS LAUNCHED COMMUNITY-OWNED SOLAR EDUCATION INITIATIVES IN THEIR COMMUNITIES. PSEF ALSO SUPPORTED THESE ORGANIZATIONS BY FUNDING INTERNS AND PROVIDING MINI-GRANTS. ALONGSIDE THIS, OUR SOLAR LEADERS IN COMMUNITY (SLIC) INTERNSHIP PROGRAM PROVIDED INDIVIDUALS WITH HANDS-ON EXPERIENCE IN GRASSROOTS COMMUNITY ORGANIZING AND SOLAR PROJECT DEVELOPMENT RESEARCH BY MATCHING THEM WITH CBOS FROM OUR CBSC PROGRAM. PSEF LAUNCHED THE 2024-2025 COHORT OF SLIC IN OCTOBER WITH PARTICIPANTS ACROSS SIX STATES. THE MOVEMENT FOR SOLAR CAPACITY AND LEADERSHIP (MSCL) COMPLEMENTS OUR BROADER CAPACITY-BUILDING PROGRAMS BY FOCUSING ON DEVELOPING INDIVIDUAL COMMUNITY LEADERS EQUIPPED TO SPEARHEAD COMMUNITY-OWNED SOLAR PROJECTS. THE FIRST COHORT OF THE YEAR MARKED A SIGNIFICANT EXPANSION FOR MSCL, GROWING FROM 10 TO 30 FELLOWS.

    Expenses $97,646 · Grants $52,000

  • MEMBERSHIP IN 2024, PSEF WELCOMED 9 NEW ORGANIZATIONS INTO OUR MEMBERSHIP, WHICH DEMONSTRATES THE POWER OF BUILDING COMMUNITY WITH OTHERS. RECOGNIZING THAT THE MOVEMENT FOR LOCALLY-LED AND COMMUNITY-OWNED SOLAR WILL BE ONGOING, PSEF HAS EXPANDED ITS CAPACITY-BUILDING PROGRAMS TO MEET THE GROWING DEMAND ACROSS THE COUNTRY.

    Expenses $70,991 · Revenue $1,300

  • LENDING SINCE DEPLOYING OUR FIRST MEMBER LOANS TWO YEARS AGO, PSEF IS PLEASED TO REPORT ON THE FIRST REPAYMENTS OCCURRING IN 2024. THIS PROOF OF CONCEPT OF A REVOLVING LOAN FUND GOVERNED BY COMMUNITY GROUPS, DEMONSTRATES THE VIABILITY OF COMMUNITY-LED PROJECTS AND THE IMPORTANCE OF NON-EXTRACTIVE, RELATIONSHIP-BASED LENDING. IN 2024, PSEF FOCUSED ON BUILDING THE INFRASTRUCTURE NECESSARY TO SCALE FROM A PILOT FUND TO AN INTEGRATED CAPITAL FUND TAILORED TO SUPPORT PROJECTS AS THEY MATURE. THIS LED TO THE DEVELOPMENT OF NEW LOAN PRODUCTS, WHICH NOT ONLY PROVIDE VITAL EARLY STAGE CAPITAL, BUT WILL ALSO ENABLE MEMBERS TO LEVERAGE ADDITIONAL FEDERAL FUNDING SUCH AS TAX CREDITS.

    Expenses $29,893 · Revenue $11,957

  • REGRANTING IN 2024, OUR VITAL MINI-GRANTS PROGRAM SUPPORTED EARLY-STAGE SOLAR PROJECT CONCEPTUALIZATION AND FOUNDATIONAL WORK SUCH AS FORMING OWNERSHIP ENTITIES, DEVELOPING BUSINESS PLANS, AND ACCESSING IMMEDIATE APPLICATION SUPPORT FOR TAX CREDITS AND GRANTS. PROJECT FINANCE IN 2024, PSEF ENCOUNTERED BOTH SIGNIFICANT OPPORTUNITIES FOR INCREASED CAPITAL ACCESS, AS WELL AS NEW CHALLENGES-EACH ENRICHING OUR INVESTMENT AND LENDING PRACTICES. PSEF BEGAN REDESIGNING OUR CAPITAL OFFERINGS TO BETTER ALIGN WITH MEMBERS' NEEDS, DELIVERING VARYING FORMS OF GRANTS, LOANS, GUARANTEES AND TECHNICAL ASSISTANCE. OUR GOAL IS TO EMPOWER MEMBERS WITH THE RESOURCES TO OVERCOME BARRIERS TO SOLAR DEVELOPMENT, ENABLING THE CREATION OF SUSTAINABLE, COMMUNITY-DRIVEN ENERGY SOLUTIONS. PSEF FOCUSED ON BUILDING THE INFRASTRUCTURE NECESSARY TO SCALE FROM A PILOT FUND TO AN INTEGRATED CAPITAL FUND TAILORED TO SUPPORT PROJECTS AS THEY MATURE. THIS LED TO THE DEVELOPMENT OF NEW LOAN PRODUCTS, WHICH NOT ONLY PROVIDE VITAL EARLY STAGE CAPITAL, BUT WILL ALSO ENABLE MEMBERS TO LEVERAGE ADDITIONAL FEDERAL FUNDING SUCH AS TAX CREDITS. POLICY, PARTNERSHIPS & OUTREACH AS AN EXISTING PROJECT COLLABORATOR OF THE ENERGY DEMOCRACY PROJECT (EDP), PSEF COLLABORATED WITH A NETWORK OF ORGANIZATIONS WORKING TO DEMOCRATIZE ENERGY FOR EVERYDAY PEOPLE ACROSS THE COUNTRY. PSEF PARTICIPATED IN EDP'S GOVERNANCE COMMITTEE, DECOLONIZATION WORKING GROUP AND AS PART OF THE FEDERAL FUNDING WORKING GROUP OUR EXECUTIVE DIRECTOR PARTICIPATED AS A PANELIST ON EDP'S SUCCEEDING WITH FEDERAL FUNDING: EXPERIENCES FROM THE FIELD WEBINAR IN OCTOBER. THIS COLLABORATION HAS BEEN INSTRUMENTAL IN SITUATING THE WORK OF PSEF MEMBERS WITHIN THE BROADER ENERGY DEMOCRACY MOVEMENT. PSEF ALSO COLLABORATED TO LAUNCH THE REGENERATIVE ECONOMIES NETWORK-A MOVEMENT COMMITTED TO FUNDING THE JUST TRANSITION TO A REGENERATIVE ECONOMY. GUIDED BY DEMOCRATIC GOVERNANCE APPROACH, THE NETWORK SUPPORTED AN APPLICATION TO THE EPA'S GREENHOUSE GAS REDUCTION FUND: CLEAN COMMUNITIES INVESTMENT ACCELERATOR PROGRAM. ULTIMATELY THE APPLICATION WAS NOT SELECTED AS AN AWARDEE, BUT THROUGH THE PROCESS WE STRENGTHENED RELATIONSHIPS AND COMMITTED TO MOBILIZING SUPPORT FOR COMMUNITY-CENTERED PROJECTS. TECHNICAL ASSISTANCE BUILDING ON PSEF'S RESOURCE COMMONS APPROACH, PSEF FACILITATED A RANGE OF TECHNICAL ASSISTANCE TO SUPPORT MEMBERS AT VARIOUS STAGES OF PROJECT DEVELOPMENT IN 2024. THIS INCLUDED GRANT APPLICATION SUPPORT AND FINANCIAL MODELING TO LEGAL AND POLICY SUPPORT. PSEF'S FINANCIAL MODELING WORKING GROUP HAS DEVELOPED A TEMPLATE FINANCIAL MODEL DESIGNED TO ASSIST MEMBERS IN MODELING AND EVALUATING THE FINANCIAL VIABILITY OF COMMUNITY SOLAR PROJECTS.

    Expenses $501,222 · Grants $35,000

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • MMAKGANTSI MAFOJANE

    EXECUTIVE DI

    Total calculated
    $170,401
    From this org
    $165,577
    From related orgs
    $0
    Other
    $4,824
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,577
    Bonus
    $15,000
    Other
    not reported
    Deferred
    $1,656
    Nontaxable benefits
    $3,168
    Filer's total
    $170,401

  • MILLARD OWENS

    CO-DIRECTOR

    Total calculated
    $147,918
    From this org
    $144,896
    From related orgs
    $0
    Other
    $3,022
    Hours/week
    40

  • ALISON ANDREWS

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • AMY BETTLE

    CO-CHAIR

    Total calculated
    $0
    Hours/week
    2

  • TIMOTHY DENHERDER-THOMAS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CRYSTAL HUANG

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • STEPHANIE JOHNSON

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • JOSEPH MCNEIL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MELA MILES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • POUYA NAJAMAIE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SHIMEKIA NICHOLS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Provenance

Return type
form_990
Tax year
2024
Filed
12 November 2025
IRS schema version
2024v5.0
Source object
202523179349311662

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