The Heights Community Energy Inc

Nonprofit profile at a glance

EIN
992460886
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
St Paul, MN, USA
Phone
6512978955
Rating
47
Verdict
MIXED
Rating confidence
Moderate
Sector
Public Utilities

Reported finances

Revenue
$159,730
Expenses
$231,727
Assets
$6,488,322
Liabilities
$6,577,828

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

Leadership & pay

3 people listed

Executive titles in this filing

  • KATHRYN SARNECKI (PRESIDENT)

People named in this filing

  • KATHRYN SARNECKI (PRESIDENT)
  • ANDREW KASID (TREASURER)
  • TIM KORBY (SECRETARY)

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

To provide heating and cooling energy services ("energy services") for the heights redevelopment project in saint paul, Minnesota.

What it reported doing in 2024

The heights community energy will conduct charitable activities to carry out the purposes of and lessen the burdens of the city of saint paul and the saint paul port authority with respect to the energy and environmental needs of the heights redevelopment project. In particular, the heights community energy will construct, operate, and maintain a district energy system that services the housing units, commercial units, and visitors of the redeveloped, mixed-use neighborhood. The organization will maintain the energy system to support the goal of building a net-zero carbon neighborhood that will service as a model for displacing natural gas and eliminating carbon emissions across Minnesota. The organization's activities will also assist saint paul by meeting its sustainability goals in the redevelopment to reduce the impacts of climate change, redevelop certain areas to increase basic public infrastructure, and focus investments along transit corridors. The city of saint paul has designed the heights as one of these certain areas to be redeveloped into a compact, mixed use and commercial center to increase access to community services and businesses.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
No current program activity. The filing reports no program spending for the current year.

The verdict

MIXED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 0
  • Transparency & Controls: 90
  • Accountability: 88
  • Sustainability: 40
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 0%; rating input score 0
  • Program expense ratio: 0%; rating input score 0
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 7 controls in place; rating input score 71
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -45.1%; rating input score 6; 6th percentile among comparable filings
  • Total-asset coverage ratio: 28; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 1.01; rating input score 5; 5th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

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

Details

  • Where the money goes: 0% of revenue deployed · 0% of spending went to programs
  • Governance: 3 of 3 board members independent · 5 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 3 people listed
  • Highest-paid contractors: 2 contractors listed · $2.7M reported
  • Consistency: 20 of 20 current checks pass
  • Schedules: 3 filed schedules
  • Filing history: 1 filing year from 2024
  • Contacts: How to reach this organization
  • 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 — Financial Efficiency: Mission deployment rate scored 0/100.
  • High — Financial Efficiency: Program expense ratio scored 0/100.
  • Review — Accountability: Governance controls: 2 of 7 not reported.
  • High — Sustainability: Operating margin scored 6/100.
  • High — Sustainability: Liabilities to assets ratio scored 5/100.