Solar Toledo Neighborhood Foundation
- Assets
- $4.9m
- Revenue
- $777.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Toledo, OH
- Founding
- 12/2018
- Data as of
- 12/2021
- EIN
- 82-5012403
Organization Overview
Solar Toledo Neighborhood Foundation is located in Toledo, OH. The organization was established in 2018. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Solar Toledo Neighborhood Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Solar Toledo Neighborhood Foundation generated $777.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (10.6%) each year.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
AS A SUPPORTING ORGANIZATION OF THE TOLEDO COMMUNITY FOUNDATION, INC., THE EXEMPT PURPOSE OF THE ORGANIZATION IS TO FURTHER THE MISSION OF THE TOLEDO COMMUNITY FOUNDATION, INC. IN SERVING THE PEOPLE OF NORTHWEST OHIO AND SOUTHEAST MICHIGAN BY PROVIDING DISTRIBUTIONS EXCLUSIVELY TO THE TOLEDO COMMUNITY FOUNDATION, INC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SOLAR TOLEDO NEIGHBORHOOD FOUNDATION WAS CREATED TO MAINTAIN THE PROCEEDS OF 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.THE DEVELOPMENNT OF A NEARLY 3-MW SOLAR ARRAY THAT WILL PRODUCE CLEAN, RENEWABLE ELECTRICITY FOR A 300,000 SQ. FT AXLE ASSEMBLY OPERATION WILL GENERATE REVENUE FOR THE FOUNDATION TO REINVEST IN THE SURROUNDING AREAS THROUGH GRANTS AND LOCAL NONPROFITS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mr Scott A Estes Chair | OfficerTrustee | 0.25 | $0 |
Mr Thomas J Winston Secretary | OfficerTrustee | 0.25 | $0 |
Keith Burwell Treasurer | Officer | 0.25 | $0 |
Ms Kim Cryan CFO | Officer | 0.25 | $0 |
Paul L Toth Trustee | Trustee | 0.25 | $0 |
Mr L Zac Isaac Trustee | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $526,485 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $526,485 |
| Total Program Service Revenue | $250,541 |
| Investment income | $8 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $777,034 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $25,000 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,625 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $45,304 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $195,529 |
| Insurance | $0 |
| All other expenses | $200 |
| Total functional expenses | $278,945 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $131,688 |
| Savings and temporary cash investments | $41,001 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $4,692,697 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,865,386 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $888,925 |
| Other liabilities | $0 |
| Total liabilities | $888,925 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $3,976,461 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,865,386 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Solar Toledo Neighborhood Foundation has recieved totaling $526,485.
| Awarding Organization | Amount |
|---|---|
Toledo Community Foundation Toledo, OH PURPOSE: SOLAR PROJECT | $522,485 |
Toledo Community Foundation Algonquin Foundation Toledo, OH PURPOSE: GENERAL SUPPORT | $4,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Vista Foundation Hershey, PA | $12,658,681 | $12,905,128 |
Storehouse For Teachers Pittsburgh, PA | $4,365,823 | $11,202,988 |
Kentucky Educational Development Corporation Ashland, KY | $6,070,827 | $11,298,796 |
Elevate 215 Philadelphia, PA | $9,991,857 | $10,518,985 |
Battelle For Kids Hilliard, OH | $8,986,527 | $5,810,919 |
Mastery Charter Schools Foundation Philadelphia, PA | $112,317,090 | $8,533,885 |
Van Wert County Foundation Van Wert, OH | $84,063,134 | $5,243,606 |
Middlebury Community Schools Employee Benefit Trust Middlebury, IN | $1,426,617 | $4,992,187 |
Carrol W Hirsch Ta Brooklyn, OH | $78 | $994,416 |
Ohio Foundation Of Independent Colleges Inc Columbus, OH | $10,019,771 | $4,357,939 |
Indianapolis Public Schools Education Foundation Inc Indianapolis, IN | $8,991,095 | $5,839,882 |
Sme Education Foundation Southfield, MI | $34,257,056 | $11,054,523 |