THE HEIGHTS COMMUNITY ENERGY INC

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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

2024

Legal Domicile

Principal Officer

KATHRYN SARNECKI

Phone

6512978955

Tax Period

2024-03-29 to 2024-09-30

THE HEIGHTS COMMUNITY ENERGY INC, founded in 2024, is a micro nonprofit in the Public & Societal Benefit sector that reported $68K in total revenue in fiscal year 2024. Expenses of $85K exceeded revenue, resulting in a 26% operating deficit.

Mission

TO PROVIDE HEATING AND COOLING ENERGY SERVICES ("ENERGY SERVICES") FOR THE HEIGHTS REDEVELOPMENT PROJECT IN SAINT PAUL, MINNESOTA.

Program Service Accomplishments

Program 1

Expenses: $0 Revenue: $0

THE HEIGHTS COMMUNITY ENERGY WILL CONDUCT CHARITABLE ACTIVITIES TO CARRY OUT THE PURPOSES OF AND LESSEN THE BURDENS OF THE CITY OF SAINT PAUL AND THE SAINT PAUL PORT AUTHORITY WITH RESPECT TO THE...

THE HEIGHTS COMMUNITY ENERGY WILL CONDUCT CHARITABLE ACTIVITIES TO CARRY OUT THE PURPOSES OF AND LESSEN THE BURDENS OF THE CITY OF SAINT PAUL AND THE SAINT PAUL PORT AUTHORITY WITH RESPECT TO THE ENERGY AND ENVIRONMENTAL NEEDS OF THE HEIGHTS REDEVELOPMENT PROJECT. IN PARTICULAR, THE HEIGHTS COMMUNITY ENERGY WILL CONSTRUCT, OPERATE, AND MAINTAIN A DISTRICT ENERGY SYSTEM THAT SERVICES THE HOUSING UNITS, COMMERCIAL UNITS, AND VISITORS OF THE REDEVELOPED, MIXED-USE NEIGHBORHOOD. THE ORGANIZATION WILL MAINTAIN THE ENERGY SYSTEM TO SUPPORT THE GOAL OF BUILDING A NET-ZERO CARBON NEIGHBORHOOD THAT WILL SERVICE AS A MODEL FOR DISPLACING NATURAL GAS AND ELIMINATING CARBON EMISSIONS ACROSS MINNESOTA. THE ORGANIZATION'S ACTIVITIES WILL ALSO ASSIST SAINT PAUL BY MEETING ITS SUSTAINABILITY GOALS IN THE REDEVELOPMENT TO REDUCE THE IMPACTS OF CLIMATE CHANGE, REDEVELOP CERTAIN AREAS TO INCREASE BASIC PUBLIC INFRASTRUCTURE, AND FOCUS INVESTMENTS ALONG TRANSIT CORRIDORS. THE CITY OF SAINT PAUL HAS DESIGNED THE HEIGHTS AS ONE OF THESE CERTAIN AREAS TO BE REDEVELOPED INTO A COMPACT, MIXED USE AND COMMERCIAL CENTER TO INCREASE ACCESS TO COMMUNITY SERVICES AND BUSINESSES.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $0

Investment Income $67,503

Other Revenue $0

TOTAL REVENUE $67,503

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Other Expenses $85,012

TOTAL EXPENSES $85,012

Year-over-Year Comparison

	2024	2023	Change
Revenue	$67,503	N/A	N/A
Expenses	$85,012	N/A	N/A
Net Income	$-17,509	N/A	N/A

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

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
KATHRYN SARNECKI	CHAIR, PRESIDENT	1.00	Officer Director	$0	$0	$0
LUKE GAALSWYK	CHAIR, PRESIDENT	1.00	Officer Director	$0	$0	$0
ANDREW KASID	TREASURER	1.00	Officer Director	$0	$0	$0
TIM KORBY	SECRETARY	1.00	Officer Director	$0	$0	$0
MICHAEL AUGER	SECRETARY	1.00	Officer 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	$67,503	$85,012	$5,547,890	$-17,509