Solar Toledo Neighborhood Foundation

Nonprofit profile at a glance

EIN
825012403
IRS 990 coverage
2019–2024
Forms available
Form 990 2024
Location
Toledo, OH, USA
Phone
4192415049
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Fund Raising and/or Fund Distribution

Official website

Reported finances

Revenue
$402,806
Expenses
$331,364
Assets
$4,311,782
Liabilities
$159,025

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

Leadership & pay

7 people listed

Highest reported compensation

  • MR KEITH BURWELL (SECRETARY/TREASURER THRU AUGUST 2024): $382,946 total reported compensation
  • MS KIM CRYAN (CFO): $260,720 total reported compensation
  • MS KATE SOMMERFELD (SECRETARY/TREASURER): $104,854 total reported compensation

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

Overview

Mission

To support the surrounding community using proceeds from a solar installation project to provide assistance in local workforce development, educational programs, and blight reduction grants.

What it reported doing in 2024

The solar toledo neighborhood foundation was created to maintain a solar installation project whose proceeds from the sale of electricity will be reinvested in the surrounding community through grants that will support local workforce development, educational programs, and blight reduction.a nearly 3-mw solar array produces clean, renewable electricity for a 300,000 sq. Ft axle assembly operation and generates revenue for the foundation to reinvest in the surrounding areas through grants and local nonprofits.

Operating model

Revenue model
Earned-program. 69% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 81% 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

SUPPORTED - A large share of available resources goes toward mission work and the filed numbers largely add up. Few specific pay-setting methods are documented in the filing; unanswered boxes are not proof of absence and revenue has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 78
  • Transparency & Controls: 71
  • Accountability: 95
  • Sustainability: 66
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.2%; rating input score 81
  • Program expense ratio: 98.6%; rating input score 99
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 8 controls in place; rating input score 88
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 17.7%; rating input score 71; 71st percentile among comparable filings
  • Total-asset coverage ratio: 13.01; rating input score 92; 92nd percentile among comparable filings
  • Liabilities to assets ratio: 0.04; rating input score 35; 35th percentile among comparable filings
  • Officer compensation ratio: 32.9%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 41.8% per year; rating input score 100; 94th percentile among comparable filings
  • Revenue growth: -31.4% per year; rating input score 0; 2nd percentile among comparable filings
  • Asset growth: 11.2% per year; rating input score 100; 69th percentile among comparable filings

Details

  • Where the money goes: 81.2% of revenue deployed · 98.6% of spending went to programs
  • Governance: 4 of 4 board members independent · 7 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $327K in reported program spending
  • Leadership: top reported pay $383K · 7 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 21 of 21 current checks pass
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 5 filing years from 2019 to 2024
  • Contacts: How to reach this organization
  • Money network: 5 filed money-flow records
  • Related organizations: 16 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • 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 — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Growth: Revenue growth scored 0/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 9/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 35/100.