Form 990 for tax year 2023

Totals

Total revenue

$1,254,539

Total expenses

$628,965

Contributions and grants received

$1,200,000

Grants paid

$34,000

Program service revenue

$49,953

Investment income

$4,586

Other revenue

$0

Total assets, end of year

$1,579,408

Total liabilities, end of year

$88,425

Net assets or fund balances, end of year

$1,490,983

Program services expenses (Part IX)

$348,615

Management and general expenses

$210,654

Fundraising expenses

$69,696

Program service expenses (Part III)

$348,615

Program services were 55.4% 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.

Mission and programs · 2023

• TRAINING THROUGH OUR 3 CAPACITY-BUILDING PROGRAMS: COMMUNITIES OF COLOR BUILDING SOLAR CAPACITY (CBSC), SOLAR LEADERS IN COMMUNITY (SLIC) AND MOVEMENT FOR SOLAR CAPACITY AND LEADERSHIP (MSCL), PSEF PROVIDED TRAINING AND FOSTERED CLOSE WORKING PARTNERSHIPS IN COMMUNITIES OF COLOR TO STRENGTHEN CAPACITY OF BIPOC-LED GROUPS TO HAVE A PLACE IN THE BURGEONING SOLAR MOVEMENT, AND, TO HELP MORE ADVANCED GROUPS PURSUE THE FEDERAL OFFERINGS WITH A PARTICULAR EYE TOWARDS THE CLIMATE, HEALTH, GREEN JOBS AND WEALTH-BUILDING PROMISE OF COMMUNITY-OWNED SOLAR. AS PART OF THIS COMMITMENT, WE EXPANDED OUR TEAM TO BETTER SUPPORT OUR CAPACITY-BUILDING EFFORTS. A TOTAL OF 40 INDIVIDUALS AND 12 GROUPS FROM 20 STATES AND PUERTO RICO PARTICIPATED IN OUR PROGRAMS. IN 2023, THE MSCL PROGRAM HELD 2 COHORTS, AND WE HOSTED 2 RETREATS, PROVIDING PARTICIPANTS WITH OPPORTUNITIES TO CONNECT, COLLABORATE, AND STRENGTHEN THEIR NETWORKS. FOLLOWING THESE PROGRAMS, SEVERAL ORGANIZATIONS APPLIED FOR PSEF MEMBERSHIP AND ARE NOW WORKING TOWARD DEVELOPING THEIR OWN COMMUNITY- OWNED SOLAR PROJECTS.

  Expenses $91,633 · Grants $24,000

• MEMBERSHIP IN 2023, PSEF EXPERIENCED GROWTH IN ITS MEMBERSHIP, WELCOMING TWO NEW MEMBERS, WAI?ANAE SUSTAINABILITY COOPERATIVE AND GREEN ENERGY JUSTICE CO-OP (GEJC), TO ITS COMMUNITY OF 24 MEMBERS. TO BETTER ALIGN ITS VISION AND GOALS, PSEF INITIATED A STRATEGIC PLANNING PROCESS IN THE FALL OF 2022. THIS STRATEGIC PLANNING EFFORT CULMINATED IN THE ORGANIZATION'S FIRST IN- PERSON MEMBERSHIP STRATEGIC PLANNING RETREAT, WHICH TOOK PLACE IN JANUARY 2023. THE RETREAT SERVED AS A PIVOTAL MOMENT FOR PSEF'S DIRECTION AND FUTURE STRATEGIES. AS PART OF ITS COMMITMENT TO BUILDING STRONG RELATIONSHIPS WITHIN ITS NETWORK, PSEF'S EXECUTIVE LEADERS EMBARKED ON VISITS TO VARIOUS MEMBERS AND THEIR PROJECT SITES. THESE INTERACTIONS HELPED STRENGTHEN THE BONDS AND COLLABORATIONS WITHIN THE ORGANIZATION.

  Expenses $68,515 · Grants $10,000

• LENDING PSEF OFFERS A BLEND OF FLEXIBLE, AFFORDABLE CAPITAL TO SUPPORT COMMUNITY- OWNED PROJECTS. TWO OF OUR MEMBERS RECENTLY BENEFITED FROM OUR PRE- DEVELOPMENT LOAN PROGRAM. GREEN ENERGY JUSTICE COOPERATIVE SECURED A 120,000 LOAN FOR THE DEVELOPMENT OF AN INNOVATIVE 9MW COMMUNITY-OWNED SOLAR PROJECT IN ILLINOIS. SIMILARLY, HOAHU ENERGY COOPERATIVE MOLOKA'I RECEIVED 55,000 TO SUPPORT THE FIRST COMMUNITY-OWNED SOLAR PROJECT ON THE ISLAND OF MOLOKA'I, HAWAII. OUR TEAM HAS ALSO DEDICATED SIGNIFICANT TIME TO REFINING OUR LENDING PROCESSES TO BETTER SERVE OUR MEMBERS' NEEDS.

  Expenses $52,338

• REGRANTING ENSURING THAT WE ADDRESS THE SPECTRUM OF RESOURCE GAPS MEMBERS FACE IS A KEY FOCUS OF PSEF'S AND WE ARE WORKING TO ENSURE THAT PSEF OFFERINGS BRIDGE THE RESOURCE GAPS THAT SO OFTEN PREVENT PROJECTS FROM TAKING OFF, RESULT IN THEM STAGNATING, OR LEAD TO THEIR FAILURE. TO THIS END, WE CARVED OUT A PORTION OF THE PRE-DEVELOPMENT LOAN POOL FOR EARLY STAGE MINI-GRANTS TO PROVIDE MORE FLEXIBLE EARLY STAGE FUNDS TO SUPPORT COMMUNITIES INNOVATING IN PROJECT STRUCTURE AND OWNERSHIP MODELS, AND MAXIMIZING OVERALL COMMUNITY BENEFIT. PROJECT FINANCE PSEF HAS BEEN PROACTIVELY ADAPTING TO THE CHANGES INTRODUCED BY THE INFLATION REDUCTION ACT, PARTICULARLY IN THE EVOLVING STRUCTURE OF TAX CREDITS. IN RESPONSE, WE HAVE EXPLORED DIRECT PAY OPTIONS AS AN ALTERNATIVE AND PROVIDED OUR MEMBERS WITH EXPERT LEGAL GUIDANCE ON THESE DEVELOPMENTS. LOOKING AHEAD, PSEF WILL CONTINUE TO FORGE PARTNERSHIPS WITH ALIGNED INVESTORS AND FUNDERS TO SECURE PROJECT FINANCING. SIMULTANEOUSLY, WE ARE STRENGTHENING OUR INTERNAL FINANCIAL INFRASTRUCTURE TO ENABLE MEMBERS TO ACCESS CRITICAL CAPITAL DIRECTLY THROUGH PSEF. ADDITIONALLY, WE REMAIN ACTIVE IN COALITIONS, WORKING TO LEVERAGE FEDERAL FUNDING OPPORTUNITIES FOR THE BENEFIT OF OUR MEMBERS. PSEC MANAGEMENT/ SHARED SERVICES AFTER ESTABLISHING OUR FOR-PROFIT ENTITY, PEOPLE'S SOLAR ENERGY COOPERATIVE, TO FACILITATE INVESTMENTS, WE LAUNCHED SHARED INSURANCE PRODUCTS FOR OUR MEMBERS. FOLLOWING THE SUCCESSFUL COMPLETION OF OUR FIRST INSURANCE AGGREGATION POOL, WE MOVED FORWARD WITH A SECOND POOL, BENEFITING 17 MEMBER PROJECTS. POLICY, PARTNERSHIPS & OUTREACH AS AN ORGANIZATION COMMITTED TO WORKING COLLABORATIVELY WITH KINDRED SISTER ORGANIZATIONS, PSEF WORKED IN 2023 TO STRENGTHEN ITS TIES TO AND ENGAGEMENT IN KEY COALITIONS SUCH AS THE ENERGY DEMOCRACY PROJECT (A NATIONAL COALITION EDUCATING AND ADVOCATING FOR AN END TO MONOPOLISTIC CORPORATE CONTROL OVER THIS FUNDAMENTAL HUMAN NEED), AND THE BLACK SOLIDARITY ECONOMY FUND (A NATIONAL NETWORK OF BLACK COOPS AND PROJECT OF THE NEW ECONOMY COALITION). SUCH PARTNERSHIPS ENHANCE EFFORTS FOR ADVOCACY AND FIELD- BUILDING, AND DEEPEN OUR TIES WITH ALLIED ORGANIZATIONS WORKING WITH FRONTLINE, IMPACTED COMMUNITIES. WE ALSO SPOKE ON A PANEL AT THE OPPORTUNITY FINANCE NETWORK REGARDING BIPOC (BLACK, INDIGENOUS, AND PEOPLE OF COLOR) REPRESENTATION IN NEW GUARANTEE PROGRAMS; AND WE HELPED PILOT- TEST AND OFFER DESIGN INPUT INTO THE FIRST COMMUNITY-SOLAR CERTIFICATION CURRICULUM (OFFERED BY THE UNIVERSITY OF NEW HAMPSHIRE). WE ALSO ACTIVELY PARTICIPATED IN COALITIONS LIKE THE REGENERATIVE ECONOMIES NETWORK AND THE COMMUNITY POWER COALITION TO APPLY FOR FEDERAL FUNDING THROUGH THE GREENHOUSE GAS REDUCTION FUND'S CLEAN COMMUNITIES INVESTMENT ACCELERATOR AND SOLAR FOR ALL PROGRAMS. TECHNICAL ASSISTANCE AS AN INTERMEDIARY NON-PROFIT LOAN FUND, PEOPLE'S SOLAR ENERGY FUND (PSEF) SEEKS TO SUPPORT OUR NETWORK OF MEMBER ORGANIZATIONS IN OVERCOMING THE BARRIERS OF DEVELOPING COMMUNITY-BASED AND COMMUNITY-OWNED SOLAR PROJECTS PRIMARILY IN COMMUNITIES OF COLOR. TO DO THIS EFFICIENTLY AND EFFECTIVELY FOR OUR MEMBERS, WE ARE CLOSELY TRACKING FEDERAL OPPORTUNITIES TO SHARE WITH OUR MEMBERSHIP, AS WELL AS PROVIDING TECHNICAL ASSISTANCE TO HELP MEMBERS PACKAGE THEIR PROPOSALS AND PURSUE FEDERAL FUNDS. FEDERAL FUNDS FLOWING FROM THE INFLATION REDUCTION ACT (IRA) HAVE THE POTENTIAL TO UNLOCK SIGNIFICANT OPPORTUNITIES FOR PSEF MEMBERS TO BOTH PILOT AND SCALE PROJECTS TO MULTIPLE COMMUNITIES. WE ARE ACTIVELY PURSUING FEDERAL FUNDS TO ENSURE THAT THIS CAPITAL IS ACCESSIBLE TO NOT ONLY CURRENT MEMBERS, BUT FUTURE COMMUNITY-BASED SOLAR DEVELOPERS WHEN NEEDED. IN ORDER TO MAXIMIZE THIS OPPORTUNITY AND CATALYZE FURTHER FUNDING FOR PRIMARILY BIPOC COMMUNITIES DEVELOPING PROJECTS, WE ARE PURSUING STRATEGIC PARTNERSHIPS WITH PHILANTHROPIC FUNDERS AND OTHER ALIGNED PARTNERS. WE CONTINUE TO SUPPORT PEER CONSULTATIONS AMONG OUR MEMBERS TO ADVANCE THE DEVELOPMENT OF THEIR COMMUNITY SOLAR PROJECTS. A NOTABLE RESOURCE IN THESE EFFORTS IS THE FINANCIAL MODEL CREATED BY OUR FINANCIAL MODELING WORKING GROUP

  Expenses $136,129 · Revenue $49,953

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

• MILLARD OWENS

  CO-DIRECTOR

  Total calculated

  $163,503

  From this org

  $150,000

  From related orgs

  $0

  Other

  $13,503

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $150,000

  Bonus

  —not reported

  Other

  —not reported

  Deferred

  $3,462

  Nontaxable benefits

  $10,041

  Filer's total

  $163,503

• MMAKGANTSI MAFOJANE

  CO-DIRECTOR

  Total calculated

  $153,462

  From this org

  $150,000

  From related orgs

  $0

  Other

  $3,462

  Hours/week

  40

  Schedule J breakdown matched by us

  Base

  $150,000

  Bonus

  —not reported

  Other

  —not reported

  Deferred

  $3,462

  Nontaxable benefits

  —not reported

  Filer's total

  $153,462

• DENISE ABDUL-RAHMAN

  DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• ALISON ANDREWS

  SECRETARY

  Total calculated

  $0

  Hours/week

  2

• AMY BETTLE

  BOARD CHAIR

  Total calculated

  $0

  Hours/week

  2

• GOPAL DAYANENI

  DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• TIMOTHY DENHERDER-THOMAS

  DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• CRYSTAL HUANG

  DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• JIM JOHNSON

  TREASURER

  Total calculated

  $0

  Hours/week

  2

• JOSEPH MCNEIL

  DIRECTOR

  Total calculated

  $0

  Hours/week

  1

• MELA MILES

  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

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

• SOCIAL AND ENVIRON ENTREPRENEURS

  $12,000

  ENERGY PROJECTS

Provenance

Return type

form_990

Tax year

2023

Filed

25 October 2024

IRS schema version

2023v5.0

Source object

202423049349300512

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