ST PAUL, MN
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Sign In — Free (10 views/day)DISTRICT ENERGY ST PAUL INC, founded in 1979, is a mid-sized nonprofit in the Public & Societal Benefit sector that reported $67.0M in total revenue in fiscal year 2023. Revenue grew 9% year-over-year, indicating healthy expansion. Expenses of $57.9M left a modest 14% surplus.
TO BE THE PREFERRED PROVIDER OF COMMUNITY ENERGY SERVICES THAT BENEFIT OUR CUSTOMERS, THE COMMUNITY AND THE ENVIRONMENT.
DISTRICT ENERGY SERVICES:DISTRICT ENERGY ST. PAUL IS A NON-PROFIT UTILITY PROVIDING ENERGY SERVICES TO DOWNTOWN SAINT PAUL, MN. THE CORE HEATING NETWORK SERVES OVER 200 BUILDINGS IN THE CENTRAL...
DISTRICT ENERGY SERVICES:DISTRICT ENERGY ST. PAUL IS A NON-PROFIT UTILITY PROVIDING ENERGY SERVICES TO DOWNTOWN SAINT PAUL, MN. THE CORE HEATING NETWORK SERVES OVER 200 BUILDINGS IN THE CENTRAL BUSINESS DISTRICT AND ACROSS THE RIVER TO A SECONDARY AREA OF COMMERCIAL, LIGHT INDUSTRIAL, AND RESIDENTIAL DEVELOPMENT. THE COOLING NETWORK SERVES MORE THAN 120 BUILDINGS IN THE CENTRAL BUSINESS DISTRICT. THE CUSTOMER BASE INCLUDES THE STATE OF MINNESOTA CAPITOL COMPLEX, CITY AND COUNTY OWNED BUILDINGS, HIGHER EDUCATION, HOSPITALS, FORTUNE 500 COMPANIES, RESIDENTIAL APARTMENTS, CONDOS, AND TOWNHOMES, AS WELL AS HOTELS, ENTERTAINMENT, AND SPORTS VENUES. DISTRICT ENERGY ST. PAUL IS THE LARGEST HOT WATER DISTRICT ENERGY SYSTEM IN THE UNITED STATES AND IS RECOGNIZED GLOBALLY AS A LEADER IN INTEGRATED AND DYNAMIC ENERGY SERVICES. TO INCREASE EFFICIENCY, RELIABILITY, AND IMPROVE THE ENVIRONMENTAL PROFILE OF THE SYSTEM, THE UTILITY HAS INCORPORATED THERMAL STORAGE, SOLAR THERMAL, AND BIOMASS-FIRED COMBINED HEAT AND POWER. IN 2024, DISTRICT ENERGY REMAINED DEDICATED TO SUPPORTING CUSTOMERS THROUGH THEIR DISTRICT ENERGY CONNECTIONS, WITH CUSTOMER ENGAGEMENT CONTINUING TO BE A CORE VALUE. THIS YEAR, CUSTOMERS WERE INVITED TO A CUSTOMER APPRECIATION DAY, WHICH INCLUDED PLANT FACILITY TOURS AND AN EDUCATIONAL SEMINAR FOCUSED ON HELPING CUSTOMERS MAXIMIZE THE BENEFITS OF THEIR DISTRICT ENERGY SERVICE. THROUGHOUT THE YEAR, SYSTEM DISTRIBUTION WORK ALSO CONTINUED, INCLUDING UPGRADES AROUND THE NEW BUS RAPID TRANSIT STOPS AND THE REPLACEMENT AND REPAIR OF HOT WATER AND CHILLED WATER PIPES TO MAINTAIN THE HIGH RELIABILITY OF SERVICE. DISTRICT ENERGY ALSO COMPLETED A WASTEWATER HEAT RECOVERY STUDY IN COLLABORATION WITH THE METROPOLITAN COUNCIL AND THE CITY OF SAINT PAUL, ADVANCED ITS PARTNERSHIP WITH CATERPILLAR TO PILOT A HYDROGEN CHP PROJECT AT THE KELLOGG PLANT, AND EXPLORED NEW WAYS TO COMMUNICATE THE COMPLEX TOPIC OF MANAGING EMERALD ASH BORER TREE WASTE. IN ADDITION, DISTRICT ENERGY'S STRONG COMMITMENT TO RENEWABLE ENERGY CONTINUES TO DRIVE THE DEVELOPMENT OF THE HEIGHTS COMMUNITY ENERGY PROJECT, IN PARTNERSHIP WITH THE SAINT PAUL PORT AUTHORITY. THIS AQUIFER THERMAL ENERGY STORAGE PROJECT IS AMONG THE FIRST OF ITS KIND IN NORTH AMERICA AND HIGHLIGHTS SAINT PAUL'S LEADERSHIP IN SUSTAINABLE ENERGY INNOVATION. AS THE COMPANY CONTINUES TO GROW, IT REMAINS DEDICATED TO PRIORITIZING THE CUSTOMERS' NEEDS FOR RELIABILITY, EFFICIENCY, AND COST-EFFECTIVENESS. AT ENERGY PARK UTILITY COMPANY, THE TEAM LAUNCHED A NEW WEBSITE. THE WEBSITE HAS BEEN DESIGNED TO PROVIDE EXISTING CUSTOMERS WITH ACCESS TO INFORMATION ABOUT THE SYSTEM AND THEIR SERVICES, WHILE PROVIDING POTENTIAL TENANTS WITH INFORMATION ABOUT THE ENERGY SERVICES.
OPERATIONS & MANAGEMENT SERVICES:DE SERVICES LLC IS RESPONSIBLE FOR THE OPERATIONS AND MANAGEMENT OF MULTIPLE ENERGY SYSTEMS AND OPERATIONS IN SAINT PAUL, MN, INCLUDING ENERGY PARK UTILITY COMPANY...
OPERATIONS & MANAGEMENT SERVICES:DE SERVICES LLC IS RESPONSIBLE FOR THE OPERATIONS AND MANAGEMENT OF MULTIPLE ENERGY SYSTEMS AND OPERATIONS IN SAINT PAUL, MN, INCLUDING ENERGY PARK UTILITY COMPANY, DISTRICT ENERGY ST. PAUL, ST. PAUL COGENERATION, AND ENVIRONMENTAL WOOD SUPPLY. THESE LAST THREE ENTITIES WORK TOGETHER TO HELP USE LOCAL TREE WASTE (BIOMASS) TO GENERATE HEAT AND ELECTRICITY FOR A LOW-CARBON ENERGY SOLUTION FOR LOCAL CUSTOMERS. THE TEAM WORKS WITH CITIES, COUNTIES, PRIVATE LANDOWNERS, AND BUSINESSES WHO NEED HELP DEALING WITH STORM-DAMAGED, DISEASED, INFESTED AND OTHER COMPROMISED TREES. THIS YEAR, THE TEAM SUPPORTED THE EFFORT OF THE MINNESOTA POLLUTION CONTROL AGENCY ("MPCA") TO COORDINATE MEETINGS OF BIOMASS STAKEHOLDERS TO BETTER UNDERSTAND THE VALUE THE COMPANY'S SERVICES PROVIDE TO THEM AND THE COMMUNITY. THIS WORK INCLUDED, PLANT, AND WOODYARD TOURS AND PARTICIPATION IN STAKEHOLDER WORKGROUP MEETINGS LED BY MPCA. THE COMPANY CONTINUES TO MANAGE A LARGE QUANTITY OF WOOD FOR THE METROPOLITAN REGION DUE TO THE REMOVAL OF TREES HARMED BY THE EMERALD ASH BORER.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2023 | 2022 | Change | |
|---|---|---|---|
| Revenue | $67,001,355 | $61,525,227 | +0.1% |
| Expenses | $57,940,921 | $54,846,368 | +0.1% |
| Net Income | $9,060,434 | $6,678,859 | +0.4% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| KENNETH SMITH | PRESIDENT & CEO | 35.10 |
Officer
Director
|
$592,179 | $77,323 | $987,445 |
| HEIDI CONRAD | CHAIR & OFFICER | 1.00 |
Officer
Director
|
$0 | $0 | $15,700 |
| BEVERLY JONES HEYDINGER | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| ERIC KRAUSE | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| HEIDE KEMPF-SCHWARZE | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| KELLY LANGE | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| KEN PETERSON | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| PAT WOLF | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| TONY POOLE | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| ANDREW KASID | EVP/CFO FINANCE & ACCOUNTING | 31.60 |
Officer
|
$281,022 | $71,934 | $626,157 |
| MICHAEL BURNS | CHIEF SYSTEMS OPERATIONS OFFICER | 12.80 |
Key Emp
|
$114,536 | $79,659 | $577,606 |
| MICHAEL AUGER CHIEF BUSINESS | OFFICER & COPORATE SECRETARY | 26.70 |
Key Emp
|
$224,874 | $68,616 | $552,900 |
| LUKE GAALSWYK | PRESIDENT, EVER-GREEN ENERGY | 11.00 |
Key Emp
|
$117,268 | $21,129 | $498,733 |
| KATHERINE VERHASSELT | CHIEF PEOPLE & COMMUNICATION OFFICER | 24.20 |
Key Emp
|
$129,418 | $31,641 | $335,221 |
| MICHAEL AHERN | CHIEF DEVELOPMENT OFFICER | 9.20 |
Highest
|
$78,004 | $69,780 | $578,517 |
| PAMELA SARNE | VICE PRESIDENT, ACCOUNTING | 22.70 |
Highest
|
$113,387 | $46,973 | $378,468 |
| STEPHEN RAMBECK | DIRECTOR OF BUSINESS DEVELOPMENT | 39.10 |
Highest
|
$195,905 | $19,591 | $241,675 |
| CHRISTOPHER PETERSON | DIRECTOR OF PRODUCTION | 41.30 |
Highest
|
$171,653 | $57,141 | $237,725 |
| NICK OELKE | SR ELECTRICAL ENGINEER | 2.50 |
Highest
|
$10,002 | $55,981 | $228,434 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2024 | $67,001,355 | $57,940,921 | $175,428,818 | $9,060,434 |
| 2023 | $61,525,227 | $54,846,368 | $172,042,252 | $6,678,859 |
| 2022 | $45,571,955 | $44,720,001 | $140,549,719 | $851,954 |
| 2021 | $38,563,375 | $37,956,895 | $133,953,246 | $606,480 |
| 2020 | $37,138,547 | $36,744,373 | $128,688,462 | $394,174 |
| 2019 | $38,618,552 | $38,081,948 | $131,661,820 | $536,604 |
| 2018 | $38,050,242 | $38,560,596 | $131,837,385 | $-510,354 |
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