Siap Solar Inc

Nonprofit profile at a glance

EIN
992888899
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Edwardsville, IL, USA
Phone
6182040115
Rating
47
Verdict
MIXED
Rating confidence
Moderate

Reported finances

Revenue
$771,205
Expenses
$186,362
Assets
$4,045,520
Liabilities
$3,460,677

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

6 people listed

People named in this filing

  • JEFF HAARMANN (BOARD CHAIR)
  • CODY MOAKE (BOARD CHAIR)
  • JOHN LEWIS (BOARD CHAIR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Develop assets to supplement and reduce electricity expense for participating residents of siap community electricity aggregation programs.

What it reported doing in 2024

Siap solar is collecting a "municipal fee" from the rate priority power secured 3 years ago for the municipalities participating in the siap solar intergovernmental agreement. For every kwh consumed, $0.001 per kwh is collected from participating residents and distributed to siap solar from homefield energy (the retail energy supplier who holds the energy supply contract) to support the pending solar investment strategy.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

MIXED - The filed numbers largely add up and revenue comfortably covers expenses. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 27
  • Transparency & Controls: 90
  • Accountability: 24
  • Sustainability: 85
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 14%; rating input score 14
  • Program expense ratio: 57.8%; rating input score 58
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 0%; rating input score 0; 5th percentile among comparable filings
  • Governance controls: 4 of 7 controls in place; rating input score 57
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 75.8%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 21.71; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.86; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 14% of revenue deployed · 57.8% of spending went to programs
  • Governance: 0 of 5 board members independent · 4 of 7 filing controls reported
  • Programs: 2 filed program accomplishments · $108K in reported program spending
  • Leadership: top reported pay $0 · 6 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 4 filed schedules
  • Contacts: How to reach this organization
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Financial Efficiency: Mission deployment rate scored 14/100.
  • High — Accountability: Independent voting board scored 0/100.
  • Review — Financial Efficiency: Program expense ratio scored 58/100.
  • Review — Accountability: Governance controls: 2 of 6 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.