DISTRICT ENERGY ST PAUL INC

EIN: 411358662 501(c)(3) Public & Societal Benefit

ST PAUL, MN

Total Revenue
$67,001,355
Total Expenses
$57,940,921
Total Assets
$175,428,818
Net Assets
$10,609,517
🔒

Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

Sign in with your work email to view Tuckman-Chang indicators

Sign In — Free (10 views/day)

Financial Trends

Organization Details

Formation Year
1979
Legal Domicile
MN
Principal Officer
KENNETH SMITH
Phone
6512978955
Tax Period
2023-10-01 to 2024-09-30

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.

Mission

TO DEVELOP, CONSTRUCT, & OPERATE A DISTRICT HEATING SYSTEM FOR ST. PAUL, MINNESOTA THAT BENEFITS ITS CUSTOMERS, COMMUNITY AND THE ENVIRONMENT.

🔒

Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

Sign in to view Trantor Score and financial metrics

Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Sign In — Free (10 views/day)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $6,061,745
Program Service Revenue $58,732,534
Investment Income $2,329,166
Other Revenue $-122,090
TOTAL REVENUE $67,001,355

Expense Breakdown

Grants Paid $25,000
Salaries & Benefits $14,538,752
Fundraising Expenses $0
Program Expenses $50,930,950
Other Expenses $43,377,169
TOTAL EXPENSES $57,940,921

Year-over-Year Comparison

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%
Key Indicators
✓ Grants to Organizations ✗ Grants to Individuals ✓ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required
🔒

Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

Sign in to view all financial metrics

Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Sign In

Governance

Voting Members
9
Independent Members
8
Employees
105
Volunteers
8

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✓ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
3
$1,629,302
Total Directors
9
$1,003,145
Key Employees
4
$1,964,460
Highest Compensated
5
reported
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
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

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
Explore More Nonprofits
→Top 100 Nonprofits in Minnesota →Largest U.S. Nonprofits →Best Rated Nonprofits →Most Efficient Nonprofits

Compare DISTRICT ENERGY ST PAUL INC with other nonprofits in Minnesota and across the country.

We Value Your Privacy
We use cookies and similar technologies to analyze site traffic and improve your experience. By clicking "Accept All", you consent to our use of cookies for analytics and measurement.