2025-11-13T19:12:49-05:00 2024-12-31 463169148 DAVISKELLY LLP 42 MILL ROAD WILMINGTON MA 01887 990 2024-01-01 843011433 PEOPLE'S SOLAR ENERGY FUND PEOP 2039163490 82 WENDELL AVE SUITE 100 PITTSFIELD MA 01201 MMAKGANTSI MAFOJANE EXECUTIVE DIRECTOR 4137728898 2025-11-12 true false RANDALL S DAVIS P10427372 9787648966 2025-11-13 2024 2025-03-06 01:10:19Z AMY BETTLE 1810 S CHARLES ST 303 SEATTLE WA 98144 1580199 false X WWW.PSEF.NETWORK X 2019 MA PEOPLE'S SOLAR ENERGY FUND, INC. PROVIDES NON-EXTRACTIVE FINANCING, TECHNICAL ASSISTANCE AND BULK-PURCHASING DISCOUNTED SERVICES TO BUILD A SCALABLE SYSTEM OF SUPPORT FOR COMMUNITY-LED AND COMMUNITY-OWNED SOLAR PROJECTS. THE EMPHASIS IS ON PROJECTS BENEFITING LOW- OR MODERATE-INCOME COMMUNITIES AND COMMUNITIES OF COLOR, CONTRIBUTING TO CLEANER AND MORE AFFORDABLE ENERGY, JOB CREATION, COMMUNITY ASSET DEVELOPMENT, AND A MORE DEMOCRATIZED ENERGY SYSTEM. 9 9 25 0 1200000 1550000 49953 13257 4586 16942 0 1254539 1580199 34000 87000 0 472842 718681 14005 14022 72018 108118 219851 628965 1039554 625574 540645 1579408 2595766 88425 569094 1490983 2026672 X PEOPLE'S SOLAR ENERGY FUND, INC. PROVIDES NON-EXTRACTIVE FINANCING, TECHNICAL ASSISTANCE AND BULK-PURCHASING DISCOUNTED SERVICES TO BUILD A SCALABLE SYSTEM OF SUPPORT FOR COMMUNITY-LED AND COMMUNITY-OWNED SOLAR PROJECTS. THE EMPHASIS IS ON PROJECTS BENEFITING LOW- OR MODERATE-INCOME COMMUNITIES AND COMMUNITIES OF COLOR, CONTRIBUTING TO CLEANER AND MORE AFFORDABLE ENERGY, JOB CREATION, COMMUNITY ASSET DEVELOPMENT, AND A MORE DEMOCRATIZED ENERGY SYSTEM. false false 97646 52000 TRAINING THROUGH CAPACITY BUILDING PSEF HAS MADE INCREDIBLE STRIDES IN SUPPORTING COMMUNITY BASED ORGANIZATIONS (CBOS) IN BUILDING CAPACITY AND INFRASTRUCTURE TO ADVANCE MORE COMMUNITY SOLAR PROJECTS. THROUGH HANDS-ON SUPPORT FROM PSEF STAFF, TECHNICAL ASSISTANCE, PEER LEARNING GROUPS, AND WEBINARS LED BY EXPERTS IN THE FIELD, APPROXIMATELY 75% OF PARTICIPANT ORGANIZATIONS LAUNCHED COMMUNITY-OWNED SOLAR EDUCATION INITIATIVES IN THEIR COMMUNITIES. PSEF ALSO SUPPORTED THESE ORGANIZATIONS BY FUNDING INTERNS AND PROVIDING MINI-GRANTS. ALONGSIDE THIS, OUR SOLAR LEADERS IN COMMUNITY (SLIC) INTERNSHIP PROGRAM PROVIDED INDIVIDUALS WITH HANDS-ON EXPERIENCE IN GRASSROOTS COMMUNITY ORGANIZING AND SOLAR PROJECT DEVELOPMENT RESEARCH BY MATCHING THEM WITH CBOS FROM OUR CBSC PROGRAM. PSEF LAUNCHED THE 2024-2025 COHORT OF SLIC IN OCTOBER WITH PARTICIPANTS ACROSS SIX STATES. THE MOVEMENT FOR SOLAR CAPACITY AND LEADERSHIP (MSCL) COMPLEMENTS OUR BROADER CAPACITY-BUILDING PROGRAMS BY FOCUSING ON DEVELOPING INDIVIDUAL COMMUNITY LEADERS EQUIPPED TO SPEARHEAD COMMUNITY-OWNED SOLAR PROJECTS. THE FIRST COHORT OF THE YEAR MARKED A SIGNIFICANT EXPANSION FOR MSCL, GROWING FROM 10 TO 30 FELLOWS. 70991 1300 MEMBERSHIP IN 2024, PSEF WELCOMED 9 NEW ORGANIZATIONS INTO OUR MEMBERSHIP, WHICH DEMONSTRATES THE POWER OF BUILDING COMMUNITY WITH OTHERS. RECOGNIZING THAT THE MOVEMENT FOR LOCALLY-LED AND COMMUNITY-OWNED SOLAR WILL BE ONGOING, PSEF HAS EXPANDED ITS CAPACITY-BUILDING PROGRAMS TO MEET THE GROWING DEMAND ACROSS THE COUNTRY. 29893 11957 LENDING SINCE DEPLOYING OUR FIRST MEMBER LOANS TWO YEARS AGO, PSEF IS PLEASED TO REPORT ON THE FIRST REPAYMENTS OCCURRING IN 2024. THIS PROOF OF CONCEPT OF A REVOLVING LOAN FUND GOVERNED BY COMMUNITY GROUPS, DEMONSTRATES THE VIABILITY OF COMMUNITY-LED PROJECTS AND THE IMPORTANCE OF NON-EXTRACTIVE, RELATIONSHIP-BASED LENDING. IN 2024, PSEF FOCUSED ON BUILDING THE INFRASTRUCTURE NECESSARY TO SCALE FROM A PILOT FUND TO AN INTEGRATED CAPITAL FUND TAILORED TO SUPPORT PROJECTS AS THEY MATURE. THIS LED TO THE DEVELOPMENT OF NEW LOAN PRODUCTS, WHICH NOT ONLY PROVIDE VITAL EARLY STAGE CAPITAL, BUT WILL ALSO ENABLE MEMBERS TO LEVERAGE ADDITIONAL FEDERAL FUNDING SUCH AS TAX CREDITS. 501222 35000 REGRANTING IN 2024, OUR VITAL MINI-GRANTS PROGRAM SUPPORTED EARLY-STAGE SOLAR PROJECT CONCEPTUALIZATION AND FOUNDATIONAL WORK SUCH AS FORMING OWNERSHIP ENTITIES, DEVELOPING BUSINESS PLANS, AND ACCESSING IMMEDIATE APPLICATION SUPPORT FOR TAX CREDITS AND GRANTS. PROJECT FINANCE IN 2024, PSEF ENCOUNTERED BOTH SIGNIFICANT OPPORTUNITIES FOR INCREASED CAPITAL ACCESS, AS WELL AS NEW CHALLENGES-EACH ENRICHING OUR INVESTMENT AND LENDING PRACTICES. PSEF BEGAN REDESIGNING OUR CAPITAL OFFERINGS TO BETTER ALIGN WITH MEMBERS' NEEDS, DELIVERING VARYING FORMS OF GRANTS, LOANS, GUARANTEES AND TECHNICAL ASSISTANCE. OUR GOAL IS TO EMPOWER MEMBERS WITH THE RESOURCES TO OVERCOME BARRIERS TO SOLAR DEVELOPMENT, ENABLING THE CREATION OF SUSTAINABLE, COMMUNITY-DRIVEN ENERGY SOLUTIONS. PSEF FOCUSED ON BUILDING THE INFRASTRUCTURE NECESSARY TO SCALE FROM A PILOT FUND TO AN INTEGRATED CAPITAL FUND TAILORED TO SUPPORT PROJECTS AS THEY MATURE. THIS LED TO THE DEVELOPMENT OF NEW LOAN PRODUCTS, WHICH NOT ONLY PROVIDE VITAL EARLY STAGE CAPITAL, BUT WILL ALSO ENABLE MEMBERS TO LEVERAGE ADDITIONAL FEDERAL FUNDING SUCH AS TAX CREDITS. POLICY, PARTNERSHIPS & OUTREACH AS AN EXISTING PROJECT COLLABORATOR OF THE ENERGY DEMOCRACY PROJECT (EDP), PSEF COLLABORATED WITH A NETWORK OF ORGANIZATIONS WORKING TO DEMOCRATIZE ENERGY FOR EVERYDAY PEOPLE ACROSS THE COUNTRY. PSEF PARTICIPATED IN EDP'S GOVERNANCE COMMITTEE, DECOLONIZATION WORKING GROUP AND AS PART OF THE FEDERAL FUNDING WORKING GROUP OUR EXECUTIVE DIRECTOR PARTICIPATED AS A PANELIST ON EDP'S SUCCEEDING WITH FEDERAL FUNDING: EXPERIENCES FROM THE FIELD WEBINAR IN OCTOBER. THIS COLLABORATION HAS BEEN INSTRUMENTAL IN SITUATING THE WORK OF PSEF MEMBERS WITHIN THE BROADER ENERGY DEMOCRACY MOVEMENT. PSEF ALSO COLLABORATED TO LAUNCH THE REGENERATIVE ECONOMIES NETWORK-A MOVEMENT COMMITTED TO FUNDING THE JUST TRANSITION TO A REGENERATIVE ECONOMY. GUIDED BY DEMOCRATIC GOVERNANCE APPROACH, THE NETWORK SUPPORTED AN APPLICATION TO THE EPA'S GREENHOUSE GAS REDUCTION FUND: CLEAN COMMUNITIES INVESTMENT ACCELERATOR PROGRAM. ULTIMATELY THE APPLICATION WAS NOT SELECTED AS AN AWARDEE, BUT THROUGH THE PROCESS WE STRENGTHENED RELATIONSHIPS AND COMMITTED TO MOBILIZING SUPPORT FOR COMMUNITY-CENTERED PROJECTS. TECHNICAL ASSISTANCE BUILDING ON PSEF'S RESOURCE COMMONS APPROACH, PSEF FACILITATED A RANGE OF TECHNICAL ASSISTANCE TO SUPPORT MEMBERS AT VARIOUS STAGES OF PROJECT DEVELOPMENT IN 2024. THIS INCLUDED GRANT APPLICATION SUPPORT AND FINANCIAL MODELING TO LEGAL AND POLICY SUPPORT. PSEF'S FINANCIAL MODELING WORKING GROUP HAS DEVELOPED A TEMPLATE FINANCIAL MODEL DESIGNED TO ASSIST MEMBERS IN MODELING AND EVALUATING THE FINANCIAL VIABILITY OF COMMUNITY SOLAR PROJECTS. 501222 35000 699752 true true false false false false false false false false false false true false false false true false false false false false false false false false false true false true false false false false false false false true false false false false false false false false false true 16 0 25 true false false false false false false false false false false false false false false X 9 9 false false false false true true true true true true false false true true true true true true true false MA X CEYDA DURMAZ DOGAN 2039163490 66 SUMMER ST UNIT 1110 STAMFORD CT 06901 MMAKGANTSI MAFOJANE EXECUTIVE DI 40.00 X 165577 0 4824 MILLARD OWENS CO-DIRECTOR 40.00 X 144896 0 3022 ALISON ANDREWS CO-CHAIR 2.00 X X 0 0 0 AMY BETTLE CO-CHAIR 2.00 X X 0 0 0 TIMOTHY DENHERDER-THOMAS DIRECTOR 1.00 X 0 0 0 CRYSTAL HUANG TREASURER 2.00 X X 0 0 0 STEPHANIE JOHNSON SECRETARY 2.00 X X 0 0 0 JOSEPH MCNEIL DIRECTOR 1.00 X 0 0 0 MELA MILES DIRECTOR 1.00 X 0 0 0 POUYA NAJAMAIE DIRECTOR 1.00 X 0 0 0 SHIMEKIA NICHOLS DIRECTOR 1.00 X 0 0 0 310473 7846 2 false true false 1550000 1550000 PROGAMMATIC INVESTMENT INCOME 525990 11957 11957 PROGRAM FEES 541610 1300 1300 13257 16942 16942 1580199 13257 16942 87000 87000 307304 169893 92191 45220 326582 234215 86934 5433 11518 4974 5372 1172 14076 6952 4994 2130 59201 33565 21595 4041 29135 23059 6076 14360 14360 14022 14022 73973 71553 2420 6467 3811 2656 17892 5219 12673 3719 1750 1969 60075 54003 6072 3755 3755 10246 10246 BANK FEES 229 3 226 1039554 699752 267784 72018 734558 2069195 534986 44005 150000 83214 119601 226650 212965 1579408 2595766 38425 19094 50000 550000 88425 569094 X 1158683 1919372 332300 107300 1490983 2026672 1579408 2595766 540645 -4956 X false false false X 825698 250000 738000 1200000 1550000 4563698 825698 250000 738000 1200000 1550000 4563698 1914861 2648837 400 4586 16942 21928 4585626 91705 0.57760 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED PROGRAMMATIC LOANS 212965 C 212965 1580199 1580199 1580199 1039554 1039554 1039554 true CLEVLAND OWNS 12401 BUCKINGHAM AVENUE CLEVLAND OH 44120 364929660 501C3 6000 PROGAM SUPPORT VILLAGE SOLUTIONS FOUNDATION 6 PRADO IRVINE CA 92612 330869856 501C3 7000 PROGAM SUPPORT JC LEGAL RESOURCES CENTER 1917 W FINN PLACE MILWAUKEE WI 53206 501C3 8000 PROGAM SUPPORT HOPE VILLAGE REVITALIZATION CDC 14030 LA SALLE BLVD DETROIT MI 48238 010790394 8000 PROGRAM SUPPORT CENTER FOR SUSTAINABLE COMMUNITIES 1051 ROSECRANS AVE COMPTON CA 90222 953938955 501C3 8000 PROGRAM SUPPORT INDIANA ENVIRON CLEAN ENERGY 6005 SAWMILL WOODS DRIVE FORT WAYNE IN 46835 8000 PROGRAM SUPPORT ASHLAND SOLAR COOPERATIVE 1033 CLAY STREET ASHLAND OR 97520 10000 PROGRAM SUPPORT NATIVE SUN COMMUNITY POWER DEVLPMT 4407 EAST LAKE STREET MINNEAPOLIS MN 55406 844052420 501C3 8000 PROGRAM SUPPORT 5 3 SCHEDULE I, PAGE 1, PART I, LINE 2 REPORTING - FOLLOWING AWARD PAYYMENT, A SIMPLE PSEF TEMPLATE OF JUST A FEW QUESTIONS - SHALL OCCUR WITHIN 5 MONTHS AFTER THE GRANT (I.E. 1 MONTH AFTER THE MAX 4 MONTH TERM). REPORTING COMPLETION WILL BE A REQUIREMENT FOR FUTURE GRANT ELIGIBILITY. X false false false false false false false false false MMAKGANTSI MAFOJANE EXECUTIVE DIRECTOR 150577 15000 1656 3168 170401 TIMOTHY DENHERDER-THOMAS DIRECTOR 250000 LOAN TO ORGANIZATION false GREEN ENERGY JUSTICE COOP REP FOR MEMBER 180000 LOAN TO ORGANZIATION false SCHEDULE L, PART V TIMOTHY DENHERDER-THOMAS AND POUYA NAJAMIE, DIRECTORS, ARE EMPLOYEES OF COOPERATIVE ENERGY FUTURES. 250,000 BRIDGE LOAN TO COOPERATIVE ENGERGY FUTURES. WASIU ADESOPE REPRESENTATIVE FOR THE MEMBER, GREEN ENERGY JUSTICE COOPERATIVE. 180,000 PRE-DEVELOPMENT LOAN TO GREEN ENERGY JUSTICE COOPERATIVE. FORM 990 - ORGANIZATION'S MISSION PEOPLE'S SOLAR ENERGY FUND, INC. PROVIDES NON-EXTRACTIVE FINANCING, TECHNICAL ASSISTANCE AND BULK-PURCHASING DISCOUNTED SERVICES TO BUILD A SCALABLE SYSTEM OF SUPPORT FOR COMMUNITY-LED AND COMMUNITY-OWNED SOLAR PROJECTS. THE EMPHASIS IS ON PROJECTS BENEFITING LOW- OR MODERATE-INCOME COMMUNITIES AND COMMUNITIES OF COLOR, CONTRIBUTING TO CLEANER AND MORE AFFORDABLE ENERGY, JOB CREATION, COMMUNITY ASSET DEVELOPMENT, AND A MORE DEMOCRATIZED ENERGY SYSTEM. FORM 990, PAGE 2, PART III, LINE 4A TRAINING THROUGH CAPACITY BUILDING PSEF HAS MADE INCREDIBLE STRIDES IN SUPPORTING COMMUNITY BASED ORGANIZATIONS (CBOS) IN BUILDING CAPACITY AND INFRASTRUCTURE TO ADVANCE MORE COMMUNITY SOLAR PROJECTS. THROUGH HANDS-ON SUPPORT FROM PSEF STAFF, TECHNICAL ASSISTANCE, PEER LEARNING GROUPS, AND WEBINARS LED BY EXPERTS IN THE FIELD, APPROXIMATELY 75% OF PARTICIPANT ORGANIZATIONS LAUNCHED COMMUNITY-OWNED SOLAR EDUCATION INITIATIVES IN THEIR COMMUNITIES. PSEF ALSO SUPPORTED THESE ORGANIZATIONS BY FUNDING INTERNS AND PROVIDING MINI-GRANTS. ALONGSIDE THIS, OUR SOLAR LEADERS IN COMMUNITY (SLIC) INTERNSHIP PROGRAM PROVIDED INDIVIDUALS WITH HANDS-ON EXPERIENCE IN GRASSROOTS COMMUNITY ORGANIZING AND SOLAR PROJECT DEVELOPMENT RESEARCH BY MATCHING THEM WITH CBOS FROM OUR CBSC PROGRAM. PSEF LAUNCHED THE 2024-2025 COHORT OF SLIC IN OCTOBER WITH PARTICIPANTS ACROSS SIX STATES. THE MOVEMENT FOR SOLAR CAPACITY AND LEADERSHIP (MSCL) COMPLEMENTS OUR BROADER CAPACITY-BUILDING PROGRAMS BY FOCUSING ON DEVELOPING INDIVIDUAL COMMUNITY LEADERS EQUIPPED TO SPEARHEAD COMMUNITY-OWNED SOLAR PROJECTS. THE FIRST COHORT OF THE YEAR MARKED A SIGNIFICANT EXPANSION FOR MSCL, GROWING FROM 10 TO 30 FELLOWS. FORM 990, PAGE 2, PART III, LINE 4D REGRANTING IN 2024, OUR VITAL MINI-GRANTS PROGRAM SUPPORTED EARLY-STAGE SOLAR PROJECT CONCEPTUALIZATION AND FOUNDATIONAL WORK SUCH AS FORMING OWNERSHIP ENTITIES, DEVELOPING BUSINESS PLANS, AND ACCESSING IMMEDIATE APPLICATION SUPPORT FOR TAX CREDITS AND GRANTS. PROJECT FINANCE IN 2024, PSEF ENCOUNTERED BOTH SIGNIFICANT OPPORTUNITIES FOR INCREASED CAPITAL ACCESS, AS WELL AS NEW CHALLENGES-EACH ENRICHING OUR INVESTMENT AND LENDING PRACTICES. PSEF BEGAN REDESIGNING OUR CAPITAL OFFERINGS TO BETTER ALIGN WITH MEMBERS' NEEDS, DELIVERING VARYING FORMS OF GRANTS, LOANS, GUARANTEES AND TECHNICAL ASSISTANCE. OUR GOAL IS TO EMPOWER MEMBERS WITH THE RESOURCES TO OVERCOME BARRIERS TO SOLAR DEVELOPMENT, ENABLING THE CREATION OF SUSTAINABLE, COMMUNITY-DRIVEN ENERGY SOLUTIONS. PSEF FOCUSED ON BUILDING THE INFRASTRUCTURE NECESSARY TO SCALE FROM A PILOT FUND TO AN INTEGRATED CAPITAL FUND TAILORED TO SUPPORT PROJECTS AS THEY MATURE. THIS LED TO THE DEVELOPMENT OF NEW LOAN PRODUCTS, WHICH NOT ONLY PROVIDE VITAL EARLY STAGE CAPITAL, BUT WILL ALSO ENABLE MEMBERS TO LEVERAGE ADDITIONAL FEDERAL FUNDING SUCH AS TAX CREDITS. POLICY, PARTNERSHIPS & OUTREACH AS AN EXISTING PROJECT COLLABORATOR OF THE ENERGY DEMOCRACY PROJECT (EDP), PSEF COLLABORATED WITH A NETWORK OF ORGANIZATIONS WORKING TO DEMOCRATIZE ENERGY FOR EVERYDAY PEOPLE ACROSS THE COUNTRY. PSEF PARTICIPATED IN EDP'S GOVERNANCE COMMITTEE, DECOLONIZATION WORKING GROUP AND AS PART OF THE FEDERAL FUNDING WORKING GROUP OUR EXECUTIVE DIRECTOR PARTICIPATED AS A PANELIST ON EDP'S SUCCEEDING WITH FEDERAL FUNDING: EXPERIENCES FROM THE FIELD WEBINAR IN OCTOBER. THIS COLLABORATION HAS BEEN INSTRUMENTAL IN SITUATING THE WORK OF PSEF MEMBERS WITHIN THE BROADER ENERGY DEMOCRACY MOVEMENT. PSEF ALSO COLLABORATED TO LAUNCH THE REGENERATIVE ECONOMIES NETWORK-A MOVEMENT COMMITTED TO FUNDING THE JUST TRANSITION TO A REGENERATIVE ECONOMY. GUIDED BY DEMOCRATIC GOVERNANCE APPROACH, THE NETWORK SUPPORTED AN APPLICATION TO THE EPA'S GREENHOUSE GAS REDUCTION FUND: CLEAN COMMUNITIES INVESTMENT ACCELERATOR PROGRAM. ULTIMATELY THE APPLICATION WAS NOT SELECTED AS AN AWARDEE, BUT THROUGH THE PROCESS WE STRENGTHENED RELATIONSHIPS AND COMMITTED TO MOBILIZING SUPPORT FOR COMMUNITY-CENTERED PROJECTS. TECHNICAL ASSISTANCE BUILDING ON PSEF'S RESOURCE COMMONS APPROACH, PSEF FACILITATED A RANGE OF TECHNICAL ASSISTANCE TO SUPPORT MEMBERS AT VARIOUS STAGES OF PROJECT DEVELOPMENT IN 2024. THIS INCLUDED GRANT APPLICATION SUPPORT AND FINANCIAL MODELING TO LEGAL AND POLICY SUPPORT. PSEF'S FINANCIAL MODELING WORKING GROUP HAS DEVELOPED A TEMPLATE FINANCIAL MODEL DESIGNED TO ASSIST MEMBERS IN MODELING AND EVALUATING THE FINANCIAL VIABILITY OF COMMUNITY SOLAR PROJECTS. FORM 990, PAGE 6, PART VI, LINE 6 THE ORGANIZATION HAS MEMBERS FORM 990, PAGE 6, PART VI, LINE 7A THE MEMBERS ELECT THE BOARD. FORM 990, PAGE 6, PART VI, LINE 7B MEMBERS MAKE DECISIONS AT MEMBER MEETINGS THAT DIRECT THE BOARD. FORM 990, PAGE 6, PART VI, LINE 9 TIMOTHY DENHERDER-THOMAS 3100 LONGFELLOW AVENUE MINNEAPOLIS, MN 55407 CRYSTAL HUANG 2670 HILGARD AVENUE BERKELEY, CA 94709 MILLARD OWENS 187 PROSPECT PL BROOKLYN, NY 11238 AMY BETTLE 1810 S CHARLES ST 303 SEATTLE, WA 98144 JOSEPH MCNEIL 9299 HWY 24 126 FORT YATES, ND 58538 MELA MILES 24 OBIERNE PL ROXBURY, MA 02119 MMAKGANTSI MAFOJANE 2109 DAMUTH ST, APT A OAKLAND, CA 94602 ALISON ANDREWS 3959 ROUND TOP DR HONOLULU, HI 96822 FORM 990, PAGE 6, PART VI, LINE 11B THE AUDIT COMMITTEE REVIEWS THE 990 AND PRESENTS IT TO THE BOARD FOR REVIEW AND APPROVAL. FORM 990, PAGE 6, PART VI, LINE 12C A COPY OF THE CONFLICT OF INTEREST STATEMENT SHALL BE FURNISHED TO EACH DIRECTOR, OFFICER, AND STAFF MEMBER WHO IS PRESENTLY SERVING THE CORPORATION, OR WHO MAY HEREAFTER BECOME ASSOCIATED WITH THE CORPORATION. THIS POLICY SHALL BE REVIEWED PERIODICALLY FOR THE INFORMATION AND GUIDANCE OF DIRECTORS, OFFICERS AND STAFF MEMBERS. ANY NEW DIRECTORS, OFFICERS, OR STAFF MEMBERS SHALL BE ADVISED OF THIS POLICY UPON UNDERTAKING THE DUTIES OF SUCH OFFICE. ANNUALLY, EACH TRUSTEE, OFFICER, MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS,AND EMPLOYEE SHALL ANNUALLY SIGN A STATEMENT THAT AFFIRMS THAT SUCH PERSON; 1.HAS RECEIVED A COPY OF THE CONFLICT-OF-INTEREST POLICY, 2.HAS READ AND UNDERSTANDS THE POLICY, 3.HAS AGREED TO COMPLY WITH THE POLICY, AND 4.UNDERSTANDS THAT PSEF IS A CHARITABLE ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES THAT ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. FORM 990, PAGE 6, PART VI, LINE 15A THE BOARD DEVELOPED A FINANCIAL PLAN AND ASSIGNED COMPENSATION LEVELS. FORM 990, PAGE 6, PART VI, LINE 15B THE BOARD DEVELOPED A FINANCIAL PLAN AND ASSIGNED COMPENSATION LEVELS. FORM 990, PAGE 6, PART VI, LINE 19 DOCUMENTS ARE AVAILABLE UPON REQUEST. NO REQUESTS FOR INFORMATION WERE MADE DURING THE YEAR.