Peoples Solar Energy Fund

Analysis

Peoples Solar Energy Fund is a registered charity in United States, based in Pittsfield, MA. It received its IRS tax-exemption ruling in June 2020, 6 years ago. Its declared purposes cover public and societal benefit, which this site groups under other charitable purposes. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, Peoples Solar Energy Fund reported income of $1.3m and spending of $629k, leaving 50% of income unspent that year. Across the 4 years on record, from December 2020 to December 2023, income grew from $828k to $1.3m (+52%), an average of +15% a year. The sharpest change came in the year to December 2022, when income rose by 190%. Over the whole period it spent 53% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Peoples Solar Energy Fund sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 82nd percentile, and in the 81st percentile within MA. Charities of a similar size with the same main cause include Eduquemos Para LA Vida Inc ($1.3m), Savo Island Cooperative Homes Inc ($1.3m) and Beaver County Assn for the Blind ($1.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 96% and program service revenue 4.0% of the total. Compensation of current officers, directors and key employees was $300k (48% of expenses). Other salaries and wages came to $121k. It paid $14k in professional fundraising fees. At year end it held assets of $1.6m against liabilities of $88k, net assets of $1.5m. It reported 17 employees.