Civic Intelligence

Holland Energy Fund

990 • Fiscal year 2019 • EIN 30-0945346

Jul 01, 2018 to Jun 30, 2019 • Filed on Apr 23, 2020

Organization Profilewww.hollandenergyfund.com
270 S River AvenueHolland, MI 49423

(616) 355-1370

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

88th percentile

0.74x

Higher debt load relative to assets than 88% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

93rd percentile

2.68x

Higher debt load relative to revenue than 93% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Net Margin

87th percentile

36%

Higher net margin than 87% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

36th percentile

$0

Higher top officer pay than 36% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2019

Asset Growth

92nd percentile

56%

Faster asset growth than 92% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

73rd percentile

18%

Faster revenue growth than 73% of similar nonprofits.

2019 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2018 to 2019

Balance Sheet
Liabilities / Assets88th percentile

Assets

Up

$1,309,506

Up $472,356 (+56%) from 2018

Net Assets

Up

$344,189

Up $129,962 (+61%) from 2018

Liabilities

Up

$965,317

Up $342,394 (+55%) from 2018

Revenue And Expenses
Liabilities / Revenue93rd percentileNet Margin87th percentile

Revenue

Up

$359,566

Up $56,133 (+18%) from 2018

Expenses

Up

$229,604

Up $3,606 (+1.6%) from 2018

Net Income

Up

$129,962

Up $52,527 (+68%) from 2018

Historical Trend

Balance Sheet Trend

Asset Growth92nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$2.0M$1.5M$1.0M$500K$0Assets 2017: $258,891Liabilities 2017: $122,099Net Assets 2017: $136,7922017Assets 2018: $837,150Liabilities 2018: $622,923Net Assets 2018: $214,2272018Assets 2019: $1,309,506Liabilities 2019: $965,317Net Assets 2019: $344,1892019Assets 2020: $1,658,127Liabilities 2020: $1,152,235Net Assets 2020: $505,8922020Assets 2021: $1,564,935Liabilities 2021: $918,484Net Assets 2021: $646,4512021Assets 2022: $1,709,463Liabilities 2022: $932,624Net Assets 2022: $776,8392022Assets 2023: $1,495,234Liabilities 2023: $605,107Net Assets 2023: $890,1272023Assets 2024: $1,677,370Liabilities 2024: $608,799Net Assets 2024: $1,068,5712024Assets 2025: $1,344,569Liabilities 2025: $34,695Net Assets 2025: $1,309,8742025

Highlighted filing

2019

Assets$1,309,506
Liabilities$965,317
Net Assets$344,189
Open 2019 Filing

Operations Trend

Revenue Growth73rd percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$600K$400K$200K$0Revenue 2017: $334,225Expenses 2017: $263,662Net Income 2017: $70,5632017Revenue 2018: $303,433Expenses 2018: $225,998Net Income 2018: $77,4352018Revenue 2019: $359,566Expenses 2019: $229,604Net Income 2019: $129,9622019Revenue 2020: $360,966Expenses 2020: $199,263Net Income 2020: $161,7032020Revenue 2021: $353,749Expenses 2021: $213,190Net Income 2021: $140,5592021Revenue 2022: $346,457Expenses 2022: $202,779Net Income 2022: $143,6782022Revenue 2023: $345,119Expenses 2023: $230,489Net Income 2023: $114,6302023Revenue 2024: $353,554Expenses 2024: $182,445Net Income 2024: $171,1092024Revenue 2025: $413,755Expenses 2025: $178,615Net Income 2025: $235,1402025

Highlighted filing

2019

Revenue$359,566
Expenses$229,604
Net Income$129,962
Open 2019 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Apr 23, 2020
Return Version
2018v3.0
Gross Receipts
$359,566
Mission and Program Overview

Mission

The Organization conducts a municipal clean energy program for which any City of Holland homeowner can qualify. A subsidy is provided for home energy improvements, as well as loans with low interest rates and limited barriers to qualify. The monthly loan payment is billed on the homeowners monthly utility bill.

The Corporation is organized within Section 501(c)(3) of the Internal Revenue Code to conduct a municipal clean energy program for which any City of Holland homeowner can qualify. A subsidy is provided for home energy improvements, as well as low interest loans with limited barriers to qualify.

Balance Sheet Detail
LineBeginningEndChange
Assets
Other Notes and Loans Receivable, Net$798,560$1,242,487▲ $443,927
Accounts Receivable$8,162$41,394▲ $33,232
Cash and Non-Interest-Bearing Accounts$30,428$25,625▼ $4,803
Total Assets$837,150$1,309,506▲ $472,356
Liabilities
Other Liabilities$587,724$938,786▲ $351,062
Accounts Payable and Accrued Expenses$35,199$26,531▼ $8,668
Total Liabilities$622,923$965,317▲ $342,394
Net Assets / Fund Balance
Unrestricted Net Assets$214,227$344,189▲ $129,962
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$214,227$344,189▲ $129,962
Total Liabilities and Net Assets / Fund Balance$837,150$1,309,506▲ $472,356
Compensation and Service Providers
Top Officer Pay36th percentile

Board Members and Trustees

NameTitle
Tim VaglePresident, Treasurer
Raul GarciaDirector, Vice President
David HoekstraDirector
Diane HaworthDirector
Tim HemingwayDirector
Wayne KlomparensDirector
Sarah KuiperSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$300,000
Program Service Revenue
$58,981
Investment Income
$585
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$129,962

Audited Revenue Reconciliation

Revenue per Audited Statements
$359,566
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$0
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$359,566
Total Revenue per Form 990
$359,566
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$229,604
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Interest$18,637--$18,637
Other Expenses$10,000$0$0$10,000
Advertising$2,966--$2,966
Fees for Services Legal$1,760--$1,760
Fees for Services Accounting$1,400--$1,400
Office Expenses$9--$9
Total Functional Expenses$229,604$0$0$229,604

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$229,604
Total Expenses per Audited Statements$229,604
Total Expenses per Form 990$229,604
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to other funds of the City of Holland, MI$937,462
Unearned Revenue$1,324
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“The completed Form 990 is reviewed prior to filing with the IRS by the President of the Organization.”

Form 990, Part VI, Section B, Line 12C

“The Conflict of Interest policy and compliance are reviewed annually.”

Form 990, Part VI, Section C, Line 19

“The Organization will provide governing documents and financial information upon specific request from members of the public.”

Filing and Contact Details

Filer

Filer Name
Holland Energy Fund
EIN
30-0945346
Phone
6163551370
Address
270 S River Avenue, Holland, MI 49423

Signing Officer

Name
Tim Vagle
Title
President
Phone
6163991377
Signed
2020-04-23

Organization Details

Principal Officer
Tim Vagle
Formed
2015
Legal Domicile
Mi
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0
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IRS990/ScheduleORequiredInd01
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0The completed Form 990 is reviewed prior to filing with the IRS by the President of the Organization.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Conflict of Interest policy and compliance are reviewed annually.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2The Organization will provide governing documents and financial information upon specific request from members of the public.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Form 990, Part VI, Section B, Line 11b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Form 990, Part VI, Section B, Line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Form 990, Part VI, Section C, Line 19
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingNACd0N/A
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0City of Holland
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0386004622
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0Local Municipal Government
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0250 S River Avenue
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0Holland
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0MI
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd049423
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd01
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd01
IRS990ScheduleR/PerformOfServicesByOtherOrgInd01
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd00
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd01
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/StatesWhereCopyOfReturnIsFldCd0MI
IRS990/SubjectToExcsTaxNetInvstIncInd00
IRS990/SubjectToProxyTaxInd00
IRS990/SubjToTaxRmnrtnExPrchtPymtInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TemporarilyRstrNetAssetsGrp/BOYAmt00
IRS990/TemporarilyRstrNetAssetsGrp/EOYAmt00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt0837150
IRS990/TotalAssetsEOYAmt01309506
IRS990/TotalAssetsGrp/BOYAmt0837150
IRS990/TotalAssetsGrp/EOYAmt01309506
IRS990/TotalCompGreaterThan150KInd00
IRS990/TotalContributionsAmt0300000
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0229604
IRS990/TotalFunctionalExpensesGrp/TotalAmt0229604
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt0622923
IRS990/TotalLiabilitiesEOYAmt0965317
IRS990/TotalLiabilitiesGrp/BOYAmt0622923
IRS990/TotalLiabilitiesGrp/EOYAmt0965317
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0214227
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0344189
IRS990/TotalOtherCompensationAmt00
IRS990/TotalOtherProgSrvcExpenseAmt00
IRS990/TotalOtherProgSrvcGrantAmt00
IRS990/TotalOtherProgSrvcRevenueAmt00
IRS990/TotalOthProgramServiceRevGrp/ExclusionAmt00
IRS990/TotalOthProgramServiceRevGrp/RelatedOrExemptFuncIncomeAmt058981
IRS990/TotalOthProgramServiceRevGrp/TotalRevenueColumnAmt058981
IRS990/TotalOthProgramServiceRevGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalProgramServiceExpensesAmt0229604
IRS990/TotalProgramServiceRevenueAmt058981
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt059566
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0359566
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotalVolunteersCnt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0837150
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01309506
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TrnsfrExmptNonChrtblRltdOrgInd00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0214227
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0344189
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0270 S River Avenue
IRS990/USAddress/CityNm0Holland
IRS990/USAddress/StateAbbreviationCd0MI
IRS990/USAddress/ZIPCd049423
IRS990/VotingMembersGoverningBodyCnt05
IRS990/VotingMembersIndependentCnt05
IRS990/WebsiteAddressTxt0www.hollandenergyfund.com
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02020-11-19 02:30:22Z
ReturnHeader/BusinessOfficerGrp/PersonNm0Tim Vagle
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0President
ReturnHeader/BusinessOfficerGrp/PhoneNum06163991377
ReturnHeader/BusinessOfficerGrp/SignatureDt02020-04-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0Holland Energy Fund
ReturnHeader/Filer/BusinessNameControlTxt0HOLL
ReturnHeader/Filer/EIN0300945346
ReturnHeader/Filer/PhoneNum06163551370

Document Assets

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Filings

Displayed year

2019 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$1,309,506
Liabilities
$965,317
Net assets
$344,189
Revenue
$359,566
Expenses
$229,604
Net income
$129,962
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$1.34$0.03$1.31$0.41$0.18$0.24
2024Detailed filing. Detailed filing data is available for this year.$1.68$0.61$1.07$0.35$0.18$0.17
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.50$0.61$0.89$0.35$0.23$0.11
2022Detailed filing. Detailed filing data is available for this year.$1.71$0.93$0.78$0.35$0.20$0.14
2021Detailed filing. Detailed filing data is available for this year.$1.56$0.92$0.65$0.35$0.21$0.14
2020Detailed filing. Detailed filing data is available for this year.$1.66$1.15$0.51$0.36$0.20$0.16
2019Detailed filing. Detailed filing data is available for this year.$1.31$0.97$0.34$0.36$0.23$0.13
2018Detailed filing. Detailed filing data is available for this year.$0.84$0.62$0.21$0.30$0.23$0.08
2017Detailed filing. Detailed filing data is available for this year.$0.26$0.12$0.14$0.33$0.26$0.07