Dollar Energy Fund Inc
- Assets
- $29.7m
- Revenue
- $23.0m
- Investments
- $0.0
- Employees
- 161
- Location
- Pittsburgh, PA
- Founding
- 09/1983
- Data as of
- 09/2022
- EIN
- 25-1442933
Organization Overview
Dollar Energy Fund Inc is located in Pittsburgh, PA. The organization was established in 1983. According to its NTEE Classification (L82) the organization is classified as: Housing Expense Reduction Support, under the broad grouping of Housing & Shelter and related organizations. As of 09/2022, Dollar Energy Fund Inc employed 161 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dollar Energy Fund Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 09/2022, Dollar Energy Fund Inc generated $23.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.0% each year. All expenses for the organization totaled $21.8m during the year ending 09/2022. While expenses have increased by 3.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO IMPROVE THE QUALITY OF LIFE FOR HOUSEHOLDS EXPERIENCING HARDSHIPS BY PROVIDING UTILITY ASSISTANCE AND OTHER SERVICES THAT LEAD TO SELF-SUFFICIENCY
Describe the Organization's Program Activity:
ASSISTANCE WAS PROVIDED TO 38,437 FAMILIES FOR GAS, WATER, TELEPHONE, AND ELECTRICITY IN THE FORM OF CREDITS FROM UTILITY VENDORS AND PAYMENTS BY DOLLAR ENERGY FUND, INC. ON BEHALF OF NEEDY INDIVIDUALS. IN ADDITION, THE WEATHERIZATION PROGRAM HELPS CUSTOMERS MANAGE THEIR UTILITY BILLS THROUGH THE UTILIZATION OF ENERGY EFFICIENCY MEASURES. USAGE REDUCTION IS FURTHER ACHIEVED BY PROVIDING CUSTOMERS HOME ENERGY EDUCATION SESSIONS AND ENERGY ACTION PLANS DESIGNED TO HELP FACILITATE CHANGES IN ENERGY USE HABITS.
THE PITTSBURGH WATER AND SEWER AUTHORITY CREATED A RESIDENTIAL HOMEOWNER ASSISTANCE PROGRAM TO AID LOW INCOME HOMEOWNERS FACING POTENTIALLY STEEP COSTS TO REPAIR NON-COMPLIANT STORM SEWER CONNECTIONS TO SANITARY SEWERS ON THEIR PROPERTY. DOLLAR ENERGY FUND, INC. SERVES AS THE GRANT AND LOAN PROGRAM ADMINISTRATOR AND POINT OF CUSTOMER CONTACT FOR HOMEOWNERS WHO WISH TO PARTICIPATE IN THE PROGRAM. THE PITTSBURGH WATER AND SEWER AUTHORITY ALSO CREATED A MORATORIUM, BILL DISCOUNT, AND PAYMENT COUNSELING PROGRAM TO ASSIST ITS LOW-INCOME CUSTOMERS. DOLLAR ENERGY FUND, INC. SERVES AS THE ADMINISTRATOR FOR THIS PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chad Quinn Chief Executive Officer | Officer | 40 | $286,134 |
Sean Smiles Chief Information Officer | Officer | 40 | $186,771 |
Dan Caponi Chief Financial Officer | Officer | 40 | $166,847 |
Lisa Stoebener Chief Human Resources Offi | Officer | 40 | $165,682 |
Joseph Ott Past President | OfficerTrustee | 0.5 | $0 |
Nick Meddis Treasurer | OfficerTrustee | 0.5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $26,856 |
| Membership dues | $0 |
| Fundraising events | $607,325 |
| Related organizations | $0 |
| Government grants | $898,225 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,929,786 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $13,462,192 |
| Total Program Service Revenue | $9,529,937 |
| Investment income | $188,506 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,474 |
| Net Income from Fundraising Events | -$163,454 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $23,037,155 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $11,957,850 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $973,104 |
| Compensation of current officers, directors, key employees. | $492,936 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,467,263 |
| Pension plan accruals and contributions | $223,619 |
| Other employee benefits | $831,099 |
| Payroll taxes | $391,382 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $50,814 |
| Fees for services: Accounting | $71,893 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $30,500 |
| Fees for services: Other | $369,945 |
| Advertising and promotion | $26,768 |
| Office expenses | $27,706 |
| Information technology | $637,590 |
| Royalties | $0 |
| Occupancy | $572,321 |
| Travel | $17,517 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $9,312 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $321,267 |
| Insurance | $52,688 |
| All other expenses | $60,497 |
| Total functional expenses | $21,787,285 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,549,136 |
| Savings and temporary cash investments | $8,316,612 |
| Pledges and grants receivable | $3,022,236 |
| Accounts receivable, net | $1,288,296 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $41,988 |
| Net Land, buildings, and equipment | $1,141,240 |
| Investments—publicly traded securities | $4,033,593 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,328,251 |
| Total assets | $29,721,352 |
| Accounts payable and accrued expenses | $367,595 |
| Grants payable | $0 |
| Deferred revenue | $23,750 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $507,371 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,000,000 |
| Total liabilities | $3,898,716 |
| Net assets without donor restrictions | $11,614,460 |
| Net assets with donor restrictions | $14,208,176 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $29,721,352 |
Grants Recieved
Over the last fiscal year, we have identified 9 grants that Dollar Energy Fund Inc has recieved totaling $817,165.
| Awarding Organization | Amount |
|---|---|
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $370,412 |
The Blackbaud Giving Fund Charleston, SC PURPOSE: GENERAL SUPPORT | $370,412 |
Paypal Charitable Giving Fund Washington, DC PURPOSE: General Support | $16,930 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $16,454 |
Morgan Stanley Global Impact Funding Trust Inc Indianapolis, IN PURPOSE: UNRESTRICTED GENERAL SUPPORT | $12,500 |
Edward B Dunlap Jr Foundation Canonsburg, PA PURPOSE: N/A | $10,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dollar Energy Fund Inc Pittsburgh, PA | $29,721,352 | $23,037,155 |
Energy Coordinating Agency Of Philadelphia Inc Philadelhia, PA | $4,156,870 | $17,660,591 |
Webster Apartments Congers, NY | $14,551,827 | $6,588,397 |
Neighborhood Housing Services Of Toledo Inc Toledo, OH | $12,631,816 | $6,150,831 |
Utility Emergency Services Fund Philadelphia, PA | $5,623,500 | $5,804,088 |
Cincinnati Development Fund Inc Cincinnati, OH | $54,993,767 | $6,552,988 |
Fuel Fund Of Central Md Inc Timonium, MD | $7,120,973 | $5,182,649 |
Rental Assistance Corporation Of Buffalo Buffalo, NY | $7,021,377 | $3,957,549 |
Westside Ministries Inc Buffalo, NY | $1,861,315 | $3,049,976 |
Niagara Falls Neighborhood Housing Services Inc Niagara Falls, NY | $3,221,959 | $1,818,977 |
Northfield Community Ldc Of Staten Island Inc Staten Island, NY | $972,612 | $2,043,555 |
Community Capital New York Inc Elmsford, NY | $13,076,152 | $2,371,640 |