TEXAS PROPERTY ASSESSED CLEAN ENERGY AUTHORITY (EIN 473563763) - Form 990 Financial Analysis & Trantor Score

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2015

Legal Domicile

Principal Officer

CHARLENE HEYDINGER

Phone

8557387223

Tax Period

2023-01-01 to 2023-12-31

TEXAS PROPERTY ASSESSED CLEAN ENERGY AUTHORITY, founded in 2015, is a small nonprofit in the Environment sector that reported $751K in total revenue in fiscal year 2023. Revenue fell 40% from the prior year — a significant decline worth monitoring. Expenses of $882K exceeded revenue, resulting in a 17% operating deficit.

Mission

TEXAS PACE AUTHORITY ADVANCES PROPERTY ASSESSED CLEAN ENERGY (PACE) PROJECTS IN TEXAS BY ADMINISTERING A UNIFORM COMMERCIAL AND INDUSTRIAL PACE PROGRAM ON BEHALF OF LOCAL GOVERNMENTS UNDER THE TEXAS CHAPTER 399 OF THE TEXAS LOCAL GOVERNMENT CODE AT NO COST TO THE LOCAL GOVERNMENT.

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Trantor Score

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

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

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $741,541

Investment Income $8,752

Other Revenue $1,000

TOTAL REVENUE $751,293

Expense Breakdown

Grants Paid $0

Salaries & Benefits $296,707

Fundraising Expenses $0

Program Expenses $809,680

Other Expenses $585,682

TOTAL EXPENSES $882,389

Year-over-Year Comparison

	2023	2022	Change
Revenue	$751,293	$1,256,287	-0.4%
Expenses	$882,389	$666,352	+0.3%
Net Income	$-131,096	$589,935	-1.2%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

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

Governance

Voting Members

Independent Members

Employees

Volunteers

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

$233,250

Total Directors

$233,250

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
CHARLENE HEYDINGER	PRESIDENT	50.00	Officer Director	$233,250	$0	$233,250
STEVE BLOCK	SECRETARY	2.00	Director	$0	$0	$0
MICHAEL GROMACKI	MEMBER	2.00	Director	$0	$0	$0
JOHN HALL	MEMBER	2.00	Director	$0	$0	$0
YARCUS LEWIS	MEMBER	5.00	Director	$0	$0	$0
DIANE RATH	MEMBER	2.00	Director	$0	$0	$0
HON PENNY REDINGTON	MEMBER	2.00	Director	$0	$0	$0
CARLTON SCHWAB	MEMBER	2.00	Director	$0	$0	$0
PATRICK WORRALL	MEMBER	4.00	Director	$0	$0	$0

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	No data	No data	No data	No data
2023	$751,293	$882,389	$840,995	$-131,096
2022	$1,256,287	$666,352	$973,889	$589,935
2021	$627,538	$524,549	$379,425	$102,989
2020	$371,452	$391,007	$277,268	$-19,555

TEXAS PROPERTY ASSESSED CLEAN ENERGY AUTHORITY