The Solar Foundation

“As of november 15, 2020, interstate renewable energy council (irec) through its president and ceo, larry sherwood, provided day-to-day management services over the operation of tsf in consultation with the tsf board of directors.”

“A copy of the draft federal form 990 is provided to the board of directors for their review prior to filing with the internal revenue service.”

“All employees of the foundation must follow the conflict of interest section of the employee handbook at all times as they pertain to procurements. A conflict of interest occurs when the official, employee or designated agent of the foundation, partners of such individuals, immediate family members, or an organization which employs or intends to employ any of the above has a financial or other interest in or a tangible personal benefit from a firm considered for a contract. In the event where a board member may have a potential conflict of interest, that particular board member will be asked to leave a meeting during consideration of any topic with which they have a conflict of interest. Their exclusion from the discussion may be published in the minutes as part of the record of the meeting.”

“The compensation of the executive director is fixed by the board of directors, who utilize compensation studies as well as contemporaneous substantiation from similar associations. The board of directors issued an rfp and selected a qualified consulting firm to perform an executive salary compensation study in 2018.”

“The foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.”

“Consulting services: program service expenses 0. Management and general expenses 4,678. Fundraising expenses 0. Total expenses 4,678. Other proessional fees: program service expenses 201,318. Management and general expenses 10,246. Fundraising expenses 0. Total expenses 211,564. Payroll fees: program service expenses 17,961. Management and general expenses 194. Fundraising expenses 0. Total expenses 18,155.”

“Gain on merger 16,272. Refund of prior year grants -31,698.”

“As of december 31, 2021, the solar foundation (tsf) was dissolved as a separate 501c3 and merged into interstate renewable energy council, inc. (irec).”