2025-08-14T10:08:49-05:00 2024-09-30 390859910 BAKER TILLY ADVISORY GROUP LP 225 S 6TH ST 2300 MINNEAPOLIS MN 55402 990 2023-10-01 411358662 DISTRICT ENERGY ST PAUL INC DIST 6512978955 305 ST PETER STREET ST PAUL MN 55102 ANDREW KASID EXECUTIVE VICE PRESIDENT, CFO 6512978955 2025-08-13 1 1 KAREN GRIES CPA P00078514 6128764500 2025-08-12 2023 2025-03-06 01:10:19Z KENNETH SMITH 305 ST PETER STREET ST PAUL MN 55102 80717135 0 X WWW.DISTRICTENERGY.COM X 1979 MN TO DEVELOP, CONSTRUCT, & OPERATE A DISTRICT HEATING SYSTEM FOR ST. PAUL, MINNESOTA THAT BENEFITS ITS CUSTOMERS, COMMUNITY AND THE ENVIRONMENT. 9 8 105 8 0 0 240764 6061745 54430565 58732534 7012353 2329166 -158455 -122090 61525227 67001355 25000 25000 0 0 13716321 14538752 0 0 0 41105047 43377169 54846368 57940921 6678859 9060434 172042252 175428818 169493094 164819301 2549158 10609517 X TO BE THE PREFERRED PROVIDER OF COMMUNITY ENERGY SERVICES THAT BENEFIT OUR CUSTOMERS, THE COMMUNITY AND THE ENVIRONMENT. 0 0 33491708 25000 38929084 DISTRICT ENERGY SERVICES:DISTRICT ENERGY ST. PAUL IS A NON-PROFIT UTILITY PROVIDING ENERGY SERVICES TO DOWNTOWN SAINT PAUL, MN. THE CORE HEATING NETWORK SERVES OVER 200 BUILDINGS IN THE CENTRAL BUSINESS DISTRICT AND ACROSS THE RIVER TO A SECONDARY AREA OF COMMERCIAL, LIGHT INDUSTRIAL, AND RESIDENTIAL DEVELOPMENT. THE COOLING NETWORK SERVES MORE THAN 120 BUILDINGS IN THE CENTRAL BUSINESS DISTRICT. THE CUSTOMER BASE INCLUDES THE STATE OF MINNESOTA CAPITOL COMPLEX, CITY AND COUNTY OWNED BUILDINGS, HIGHER EDUCATION, HOSPITALS, FORTUNE 500 COMPANIES, RESIDENTIAL APARTMENTS, CONDOS, AND TOWNHOMES, AS WELL AS HOTELS, ENTERTAINMENT, AND SPORTS VENUES. DISTRICT ENERGY ST. PAUL IS THE LARGEST HOT WATER DISTRICT ENERGY SYSTEM IN THE UNITED STATES AND IS RECOGNIZED GLOBALLY AS A LEADER IN INTEGRATED AND DYNAMIC ENERGY SERVICES. TO INCREASE EFFICIENCY, RELIABILITY, AND IMPROVE THE ENVIRONMENTAL PROFILE OF THE SYSTEM, THE UTILITY HAS INCORPORATED THERMAL STORAGE, SOLAR THERMAL, AND BIOMASS-FIRED COMBINED HEAT AND POWER. IN 2024, DISTRICT ENERGY REMAINED DEDICATED TO SUPPORTING CUSTOMERS THROUGH THEIR DISTRICT ENERGY CONNECTIONS, WITH CUSTOMER ENGAGEMENT CONTINUING TO BE A CORE VALUE. THIS YEAR, CUSTOMERS WERE INVITED TO A CUSTOMER APPRECIATION DAY, WHICH INCLUDED PLANT FACILITY TOURS AND AN EDUCATIONAL SEMINAR FOCUSED ON HELPING CUSTOMERS MAXIMIZE THE BENEFITS OF THEIR DISTRICT ENERGY SERVICE. THROUGHOUT THE YEAR, SYSTEM DISTRIBUTION WORK ALSO CONTINUED, INCLUDING UPGRADES AROUND THE NEW BUS RAPID TRANSIT STOPS AND THE REPLACEMENT AND REPAIR OF HOT WATER AND CHILLED WATER PIPES TO MAINTAIN THE HIGH RELIABILITY OF SERVICE. DISTRICT ENERGY ALSO COMPLETED A WASTEWATER HEAT RECOVERY STUDY IN COLLABORATION WITH THE METROPOLITAN COUNCIL AND THE CITY OF SAINT PAUL, ADVANCED ITS PARTNERSHIP WITH CATERPILLAR TO PILOT A HYDROGEN CHP PROJECT AT THE KELLOGG PLANT, AND EXPLORED NEW WAYS TO COMMUNICATE THE COMPLEX TOPIC OF MANAGING EMERALD ASH BORER TREE WASTE. IN ADDITION, DISTRICT ENERGY'S STRONG COMMITMENT TO RENEWABLE ENERGY CONTINUES TO DRIVE THE DEVELOPMENT OF THE HEIGHTS COMMUNITY ENERGY PROJECT, IN PARTNERSHIP WITH THE SAINT PAUL PORT AUTHORITY. THIS AQUIFER THERMAL ENERGY STORAGE PROJECT IS AMONG THE FIRST OF ITS KIND IN NORTH AMERICA AND HIGHLIGHTS SAINT PAUL'S LEADERSHIP IN SUSTAINABLE ENERGY INNOVATION. AS THE COMPANY CONTINUES TO GROW, IT REMAINS DEDICATED TO PRIORITIZING THE CUSTOMERS' NEEDS FOR RELIABILITY, EFFICIENCY, AND COST-EFFECTIVENESS. AT ENERGY PARK UTILITY COMPANY, THE TEAM LAUNCHED A NEW WEBSITE. THE WEBSITE HAS BEEN DESIGNED TO PROVIDE EXISTING CUSTOMERS WITH ACCESS TO INFORMATION ABOUT THE SYSTEM AND THEIR SERVICES, WHILE PROVIDING POTENTIAL TENANTS WITH INFORMATION ABOUT THE ENERGY SERVICES. 17439242 19803450 OPERATIONS & MANAGEMENT SERVICES:DE SERVICES LLC IS RESPONSIBLE FOR THE OPERATIONS AND MANAGEMENT OF MULTIPLE ENERGY SYSTEMS AND OPERATIONS IN SAINT PAUL, MN, INCLUDING ENERGY PARK UTILITY COMPANY, DISTRICT ENERGY ST. PAUL, ST. PAUL COGENERATION, AND ENVIRONMENTAL WOOD SUPPLY. THESE LAST THREE ENTITIES WORK TOGETHER TO HELP USE LOCAL TREE WASTE (BIOMASS) TO GENERATE HEAT AND ELECTRICITY FOR A LOW-CARBON ENERGY SOLUTION FOR LOCAL CUSTOMERS. THE TEAM WORKS WITH CITIES, COUNTIES, PRIVATE LANDOWNERS, AND BUSINESSES WHO NEED HELP DEALING WITH STORM-DAMAGED, DISEASED, INFESTED AND OTHER COMPROMISED TREES. THIS YEAR, THE TEAM SUPPORTED THE EFFORT OF THE MINNESOTA POLLUTION CONTROL AGENCY ("MPCA") TO COORDINATE MEETINGS OF BIOMASS STAKEHOLDERS TO BETTER UNDERSTAND THE VALUE THE COMPANY'S SERVICES PROVIDE TO THEM AND THE COMMUNITY. THIS WORK INCLUDED, PLANT, AND WOODYARD TOURS AND PARTICIPATION IN STAKEHOLDER WORKGROUP MEETINGS LED BY MPCA. THE COMPANY CONTINUES TO MANAGE A LARGE QUANTITY OF WOOD FOR THE METROPOLITAN REGION DUE TO THE REMOVAL OF TREES HARMED BY THE EMERALD ASH BORER. 50930950 1 1 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 48 0 1 105 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 8 0 1 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X ANDREW KASID 6512978955 305 ST PETER STREET ST PAUL MN 55102 X KENNETH SMITH PRESIDENT & CEO 35.10 11.20 X X 592179 317943 77323 HEIDI CONRAD CHAIR & OFFICER 1.00 1.00 X X 0 15700 0 BEVERLY JONES HEYDINGER DIRECTOR 1.00 X 0 0 0 ERIC KRAUSE DIRECTOR 1.00 X 0 0 0 HEIDE KEMPF-SCHWARZE DIRECTOR 1.00 X 0 0 0 KELLY LANGE DIRECTOR 1.00 X 0 0 0 KEN PETERSON DIRECTOR 1.00 X 0 0 0 PAT WOLF DIRECTOR 1.00 X 0 0 0 TONY POOLE DIRECTOR 1.00 X 0 0 0 ANDREW KASID EVP/CFO FINANCE & ACCOUNTING 31.60 19.60 X 281022 273201 71934 MICHAEL BURNS CHIEF SYSTEMS OPERATIONS OFFICER 12.80 31.90 X 114536 383411 79659 MICHAEL AUGER CHIEF BUSINESS OFFICER & COPORATE SECRETARY 26.70 20.50 X 224874 259410 68616 LUKE GAALSWYK PRESIDENT, EVER-GREEN ENERGY 11.00 33.90 X 117268 360336 21129 KATHERINE VERHASSELT CHIEF PEOPLE & COMMUNICATION OFFICER 24.20 20.90 X 129418 174162 31641 MICHAEL AHERN CHIEF DEVELOPMENT OFFICER 9.20 39.40 X 78004 430733 69780 PAMELA SARNE VICE PRESIDENT, ACCOUNTING 22.70 29.30 X 113387 218108 46973 STEPHEN RAMBECK DIRECTOR OF BUSINESS DEVELOPMENT 39.10 5.20 X 195905 26179 19591 CHRISTOPHER PETERSON DIRECTOR OF PRODUCTION 41.30 2.20 X 171653 8931 57141 NICK OELKE SR ELECTRICAL ENGINEER 2.50 40.00 X 10002 162451 55981 2028248 2630565 599768 58 0 1 0 NOVA-FROST 7264 DICKMAN TR INVER GROVE HEIGHTS MN 55076 CONSTRUCTION/REPAIR SERVICES 960786 PIONEER POWER INC 2500 VENTURA DRIVE WOODBURY MN 55125 CONSTRUCTION/REPAIR SERVICES 706016 EGAN COMPANIES 11611 BUSINESS PARK BLVD N CHAMPLIN MN 55316 CONSTRUCTION/REPAIR SERVICES 486632 HUNT ELECTRIC CORPORATION 7900 CHICAGO AVE SOUTH BLOOMINGTON MN 55420 CONSTRUCTION/REPAIR SERVICES 230231 COLLINS ELECTRICAL CONSTRUCTIONS INC 278 STATE STREET ST PAUL MN 55107 CONSTRUCTION/REPAIR SERVICES 163103 6 6061745 6061745 ENERGY SERVICES 221000 38929084 38929084 MANAGEMENT SERVICES 221000 19803450 19803450 58732534 1079566 1079566 239838 361928 -122090 -122090 -122090 14441785 161667 13353852 0 1087933 161667 1249600 1249600 67001355 58732534 0 2207076 25000 25000 1459295 1459295 9542673 6882265 2660408 731370 465121 266249 2104042 1430620 673422 701372 446044 255328 110724 110724 126808 126808 20500 20500 167702 167702 260082 260082 95517 95517 860797 860797 144744 144744 11090 11090 16520 16520 48487 48487 6219978 6219978 6150940 6150940 FUEL AND ENERGY 22782982 22782982 PLANT MAINTENANCE & OTH 5737475 5737475 DISTRIBUTION EXPENSE 622823 622823 57940921 50930950 7009971 0 6642405 11951956 17717964 19413739 5950221 6132502 4525398 4362792 1542876 842288 200128 446779 232851956 139087232 93942014 93764724 27268052 25260844 14253194 13253194 172042252 175428818 7682892 10226854 80999832 71328565 76973537 80186295 2619844 1679232 1216989 1398355 169493094 164819301 X 2549158 10609517 2549158 10609517 172042252 175428818 X 9060434 -75 -1000000 X X 0 1 X 1 0 X X 1 CITY OF ST PAUL MN 416005521 6 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 X SCHEDULE A, SECTION E, LINE 1C: DISTRICT ENERGY ST. PAUL, INC. WAS ORGANIZED TO DEVELOP, CONSTRUCT, AND OPERATE A HOT WATER DISTRICT HEATING SYSTEM, AS WELL AS A DISTRICT COOLING SYSTEM, TO SERVE THE CENTRAL BUSINESS DISTRICT AND ADJACENT AREAS OF THE CITY OF SAINT PAUL, MINNESOTA. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 1 23858 0 0 23858 0 PART II-B, LINE 1: DISTRICT ENERGY'S LOBBYING ACTIVITY CONSISTS OF EDUCATING FEDERAL AND STATE LEGISLATORS AND MUNICIPAL SUBDIVISIONS OF THE STATE OF MINNESOTA ABOUT DISTRICT ENERGY: WHO WE ARE, WHAT WE DO, AND HOW LEGISLATIVE ACTIVITIES MAY AFFECT OUR CUSTOMERS. 2179341 2179341 84948976 9368188 75580788 134222588 129719044 4503544 11501051 11501051 93764724 INVESTMENT IN AFFILIATE 13253194 C 13253194 ASSET RETIREMENT OBLIGATION 638348 DUE TO EVER-GREEN ENERGY, INC. 760007 1398355 X 41940080 -75 419813 419738 41520342 25481013 25481013 67001355 39160148 419813 419813 38740335 19200586 19200586 57940921 PART X, LINE 2: DISTRICT ENERGY IS A NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND MINNESOTA STATUTE 317 AND, ACCORDINGLY, IS GENERALLY EXEMPT FROM INCOME TAXES. ACCORDINGLY, THE COMPANY IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES EXCEPT TO THE EXTENT IT DERIVES INCOME FROM CERTAIN ACTIVITIES NOT SUBSTANTIALLY RELATED TO ITS TAX-EXEMPT PURPOSES (UNRELATED TRADE OR BUSINESS ACTIVITIES). THE COMPANY FOLLOWS THE ACCOUNTING POLICY THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ORGANIZATION'S FINANCIAL STATEMENTS. THE POLICY PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE COMPANY IS NOT CURRENTLY UNDER EXAMINATION BY ANY TAXING JURISDICTION. IN THE EVENT OF ANY FUTURE TAX ASSESSMENTS, THE COMPANY HAS ELECTED TO RECORD THE INCOME TAXES AND ANY RELATED INTEREST AND PENALTIES AS GENERAL AND ADMINISTRATIVE EXPENSE IN THE STATEMENTS OF OPERATIONS AND CHANGES IN NET DEFICIT. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 361,928. RENTAL ACTIVITY ELIMINATION 57,885. PART XI, LINE 4B - OTHER ADJUSTMENTS: DISREGARDED ENTITY REVENUE 25,481,013. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT RENTAL EXPENSES 361,928. RENTAL ACTIVITY ELIMINATION 57,885. PART XII, LINE 4B - OTHER ADJUSTMENTS: DISREGARDED ENTITY REVENUE 19,200,586. 1 ST PAUL DOWNTOWN ALLIANCE 428 MINNESOTA STREET SUITE 500 SAINT PAUL MN 55101 824187263 501(C)(3) 25000 0 INVESTMENT IN DOWNTOWN ST. PAUL 1 0 0 0 0 0 0 0 0 0 0 KENNETH SMITH PRESIDENT & CEO 385847 123183 206332 65873 0 128887 37345 11923 21266 6789 650790 336655 0 0 ANDREW KASID EVP/CFO FINANCE & ACCOUNTING 197220 122351 83802 51989 0 98861 27313 16944 17081 10596 325416 300741 0 0 MICHAEL AHERN CHIEF DEVELOPMENT OFFICER 54630 233751 23374 100013 0 96969 5598 23952 7621 32609 91223 487294 0 0 MICHAEL BURNS CHIEF SYSTEMS OPERATIONS OFFICER 80157 200464 34379 85978 0 96969 11149 27882 11605 29023 137290 440316 0 0 MICHAEL AUGER CHIEF BUSINESS OFFICER & COPORATE SECRETARY 159423 122518 65451 50300 0 86592 16061 12343 22738 17474 263673 289227 0 0 LUKE GAALSWYK PRESIDENT, EVER-GREEN ENERGY 80748 248120 36520 112216 0 0 5142 15800 46 141 122456 376277 0 0 PAMELA SARNE VICE PRESIDENT, ACCOUNTING 82934 107262 30453 39387 0 71459 8414 10882 12068 15609 133869 244599 0 0 KATHERINE VERHASSELT CHIEF PEOPLE & COMMUNICATION OFFICER 95524 82473 33894 29263 0 62426 9387 8105 7593 6556 146398 188823 0 0 STEPHEN RAMBECK DIRECTOR OF BUSINESS DEVELOPMENT 174164 23274 21741 2905 0 0 17020 2274 262 35 213187 28488 0 0 CHRISTOPHER PETERSON DIRECTOR OF PRODUCTION 152896 7955 18757 976 0 0 16233 845 38082 1981 225968 11757 0 0 NICK OELKE SR ELECTRICAL ENGINEER 9625 156328 377 6123 0 0 789 12808 2458 39926 13249 215185 0 0 PART I, LINE 3 THE ORGANIZATION'S OFFICERS ARE COMPENSATED FROM ITS RELATED ORGANIZATION, EVER-GREEN ENERGY, INC. THE COMPENSATION REPORTED ON FORM 990 PART VII, COLUMN (D), REPORTABLE COMPENSATION FROM THE ORGANIZATION, IS THE AMOUNT PAID BY DISTRICT ENERGY ST PAUL, INC TO EVER-GREEN ENERGY, INC. THE FOLLOWING WERE USED BY EVER-GREEN ENERGY, INC. TO DETERMINE THE COMPENSATION OF THE PRESIDENT: 1. COMPENSATION COMMITTEE 2. INDEPENDENT COMPENSATION CONSULTANT 3. COMPENSATION SURVEY/STUDY 4. APPROVAL BY THE BOARD AND COMPENSATION COMMITTEE A PORT AUTHORITY OF THE CITY OF SAINT PAUL 416665524 79308GAA5 2017-11-21 7395760 SEE PART VI 0 0 0 B PORT AUTHORITY OF THE CITY OF SAINT PAUL 416005524 79308GAB3 2017-11-22 5996385 SEE PART VI 0 0 0 C HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL MINNESOTA 521440935 85236DAQ1 2017-12-28 37535368 SEE PART VI 0 0 0 D HOUSING AND REDEVELOPMENT AUTHORITY OF THE CITY OF SAINT PAUL MINNESOTA 521440935 85236DBJ6 2017-12-28 7432234 SEE PART VI 0 0 0 A 7395760 673298 3750000 147915 2583091 241456 2019 1 0 1 1 B 5996385 558041 119928 5118294 200122 2019 0 0 1 1 C 365000 37535368 3570717 33449068 515583 2017 1 0 1 1 D 1630000 7432234 7380208 52026 2017 1 0 1 1 A 0 0 0 0 1 0 1 B 0 0 0 0 1 0 1 C 0 0 0 0 1 0 1 D 0 0 0 0 1 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART I, DESCRIPTION OF PURPOSE OF BOND ISSUES: BONDS WERE ISSUED TO REFUND PRIOR BOND ISSUES. 2013A (501(C)(3)). BONDS WERE ISSUED TO REFUND PRIOR BOND ISSUES. 2013B (AMT). BONDS WERE ISSUED TO REFUND PRIOR BOND ISSUES. 2013C (501(C)(3)) AND OTHER PRIOR DEBT. SCHEDULE K, PART III, LINES 4-6: BOND ISSUES - CUSIP# 79303MAX7, 79303MBA6, 79303MBB4, 79303MBC2: DISTRICT ENERGY FUNDS SYSTEM EXPANSIONS THROUGH THE ISSUANCE OF 501(C)(3) TAX EXEMPT BONDS, EXEMPT FACILITY TAX EXEMPT BONDS, AND TAXABLE BONDS. FOR A PORTION OF THE DISTRIBUTION SYSTEM FUNDING, DISTRICT ENERGY ISSUES EXEMPT FACILITY, PRIVATE ACTIVITY TAX EXEMPT BONDS WHICH ARE USED IN PART TO FUND NON-GOVERNMENTAL USES. THESE PROJECT COSTS ARE ELIGIBLE FOR THE EXEMPT FACILITY, TAX EXEMPT BONDING AS PROVIDED IN IRC SECTION 142. A PORT AUTHORITY OF THE CITY OF SAINT PAUL 416005524 79308GAM9 2021-03-09 11130366 SEE PART VI 0 0 0 B PORT AUTHORITY OF THE CITY OF SAINT PAUL 416005524 79308GAN7 2021-03-09 4998705 SEE PART VI 0 0 0 C PORT AUTHORITY OF THE CITY OF SAINT PAUL 416005524 79308GAP2 2023-09-29 4867700 SEE PART VI 0 0 0 D PORT AUTHORITY OF THE CITY OF SAINT PAUL 416005524 79308GAQ0 2023-09-29 4923200 SEE PART VI 0 0 0 A 600000 11130366 923497 5095577 222607 4854087 34598 2024 1 1 1 1 B 4998705 487651 99974 4395033 16047 2023 0 0 1 1 C 4867700 489545 79854 816414 17500 3464387 0 0 1 1 D 4923200 489545 80964 1309043 17700 3025948 0 0 1 1 A 0 0 0 0 1 0 1 B 0 0 0 0 1 0 1 C 0 0 0 0 1 0 1 D 0 0 0 0 1 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 1 D 0 0 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 FORM 990, PART VI, SECTION A, LINE 3 A RELATED ORGANIZATION, EVER-GREEN ENERGY, INC. PROVIDES MANAGEMENT SERVICES AND STAFF TO DISTRICT ENERGY ST. PAUL, INC. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE BOARD OF DIRECTORS ARE ELECTED AS FOLLOWS: THREE MEMBERS ARE ELECTED BY CUSTOMERS OF DISTRICT ENERGY ST. PAUL, INC., THREE MEMBERS ARE APPOINTED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF ST. PAUL, TWO MEMBERS ARE ELECTED BY THE OTHER SIX BOARD MEMBERS AND THE EX OFFICIO MEMBER IS THE DISTRICT ENERGY CEO. CUSTOMERS ARE DEFINED AS PERSONS EXECUTING A HOT WATER DELIVERY AGREEMENT AND/OR CHILLED WATER SERVICE AGREEMENT. FORM 990, PART VI, SECTION A, LINE 7B A RATE CHANGE IMPLEMENTED BY THE ORGANIZATION REQUIRES APPROVAL FROM THE CITY OF ST. PAUL. A CHANGE TO THE UNIFORM PROVISIONS REQUIRES APPROVAL OF THE ORGANIZATION'S CUSTOMERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED BY AN OFFICER OF THE ORGANIZATION AND PROVIDED TO ALL BOARD MEMBERS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY COVERS OFFICERS, DIRECTORS, AND OTHER KEY PERSONNEL. COVERED PERSONS AND THEIR IMMEDIATE FAMILY MEMBERS ARE REQUIRED TO DISCLOSE ANNUALLY INTERESTS THAT COULD GIVE RISE TO CONFLICTS, WHETHER FINANCIAL OR FIDUCIARY IN NATURE, ON FORMS PROVIDED BY EVER-GREEN ENERGY, INC. ANY MATTER OF QUESTION OR INTERPRETATION THAT ARISES RELATING TO CONFLICTS OF INTEREST SHOULD BE REFERRED TO THE OFFICE OF GENERAL COUNSEL WHO SHALL KEEP THE BOARD CHAIR AND PRESIDENT/CEO INFORMED. THE BOARD CHAIR SHALL REFER THE MATTER TO THE BOARD OF DIRECTORS FOR DECISION WHERE APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION'S OFFICERS ARE COMPENSATED FROM A RELATED ORGANIZATION, EVER-GREEN ENERGY, INC. EXECUTIVE COMPENSATION IS ESTABLISHED BY REVIEW OF COMPARABILITY DATA AND CONSIDERATION OF OTHER APPROPRIATE FACTORS SUCH AS THE AVAILABILITY OF SIMILAR SERVICES IN THE SAME GEOGRAPHIC AREA. THE BASIS FOR SUCH DECISIONS IS DOCUMENTED AT THE TIME THE DECISION IS MADE. ALL OFFICERS OF THE COMPANY UNDERWENT THIS PROCESS IN THE FALL OF 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII, SECTION A: THE OFFICERS/KEY EMPLOYEES/HIGHEST PAID EMPLOYEES OF DISTRICT ENERGY ST PAUL, INC. ALSO SERVED AS OFFICERS/KEY EMPLOYEES/HIGHEST PAID EMPLOYEES OF RELATED ORGANIZATIONS. THEIR AVERAGE HOURS PER WEEK AND COMPENSATION FROM EACH ORGANIZATION WERE AS FOLLOWS: HOURS/WEEK SALARY/BENEFITS KENNETH SMITH, PRESIDENT DISTRICT ENERGY ST PAUL, INC 35.10 HOURS/WK 650,790 /YR EVER-GREEN ENERGY, INC 11.20 HOURS/WK 336,654 /YR TOTAL 46.30 HOURS/WK 987,445 /YR ANDREW KASID, EXECUTIVE VICE PRESIDENT, CFO DISTRICT ENERGY ST PAUL, INC 31.60 HOURS/WK 325,416 /YR EVER-GREEN ENERGY, INC 19.60 HOURS/WK 300,742 /YR TOTAL 51.20 HOURS/WK 626,158 /YR MICHAEL AHERN, SENIOR VICE PRESIDENT DISTRICT ENERGY ST PAUL, INC 9.20 HOURS/WK 91,224 /YR EVER-GREEN ENERGY, INC 39.40 HOURS/WK 487,295 /YR TOTAL 48.60 HOURS/WK 578,518 /YR MICHAEL BURNS, SENIOR VICE PRESIDENT DISTRICT ENERGY ST PAUL, INC 12.80 HOURS/WK 137,289 /YR EVER-GREEN ENERGY, INC 31.90 HOURS/WK 440,317 /YR TOTAL 44.70 HOURS/WK 577,606 /YR MICHAEL AUGER, VP GENERAL COUNSEL DISTRICT ENERGY ST PAUL, INC 26.70 HOURS/WK 263,673 /YR EVER-GREEN ENERGY, INC 20.50 HOURS/WK 289,228 /YR TOTAL 47.20 HOURS/WK 552,900 /YR LUKE GAALSWYK, PRESIDENT, EVER-GREENE ENERGY DISTRICT ENERGY ST PAUL, INC 11.00 HOURS/WK 122,455 /YR EVER-GREEN ENERGY, INC 33.90 HOURS/WK 376,278 /YR TOTAL 44.90 HOURS/WK 498,733 /YR PAMELA SARNE, VICE PRESIDENT ACCOUNTING DISTRICT ENERGY ST PAUL, INC 22.70 HOURS/WK 133,870 /YR EVER-GREEN ENERGY, INC 29.30 HOURS/WK 244,598 /YR TOTAL 52.00 HOURS/WK 378,467 /YR KATHERINE VERHASSELT, VICE PRESIDENT OF HUMAN RESOURCES DISTRICT ENERGY ST PAUL, INC 24.20 HOURS/WK 146,399 /YR EVER-GREEN ENERGY, INC 20.90 HOURS/WK 188,823 /YR TOTAL 45.10 HOURS/WK 335,222 /YR STEPHEN RAMBECK, DIRECTOR OF BUSINESS DEVELOPMENT DISTRICT ENERGY ST PAUL, INC 39.10 HOURS/WK 213,186 /YR EVER-GREEN ENERGY, INC 5.20 HOURS/WK 28,489 /YR TOTAL 44.30 HOURS/WK 241,675 /YR CHRISTOPHER PETERSON, DIRECTOR OF PRODUCTION DISTRICT ENERGY ST PAUL, INC 41.30 HOURS/WK 225,667 /YR EVER-GREEN ENERGY, INC 2.20 HOURS/WK 11,757 /YR TOTAL 43.50 HOURS/WK 237,725 /YR NICK OELKE, SR ELECTRICAL ENGINEER DISTRICT ENERGY ST PAUL, INC 2.50 HOURS/WK 13,248 /YR EVER-GREEN ENERGY, INC 40.00 HOURS/WK 215,186 /YR TOTAL 42.50 HOURS/WK 228,434 /YR HEIDI CONRAD, CHAIR & OFFICER DISTRICT ENERGY ST PAUL, INC 1.00 HOURS/WK 0.00 /YR EVER-GREEN ENERGY, INC 1.00 HOURS/WK 15,700 /YR TOTAL 2.00 HOURS/WK 15,700 /YR FORM 990, PART XI, LINE 9: RETURN OF INVESTMENTS IN AFFILIATES -1,000,000. FORM 990, PART XII, LINE 2C: THE SELECTION AND OVERSIGHT PROCESS FOR THE AUDIT OF THE FINANCIAL STATEMENTS HAVE NOT CHANGED FROM PRIOR YEAR. DE SERVICES LLC 305 ST PETER STREET ST PAUL MN 55102 474769233 MANAGEMENT OF DISTRICT ENERGY SYSTEMS MN 14642722 18365048 DISTRICT ENERGY ST PAUL INC ENVIRONMENTAL WOOD SUPPLY LLC 305 ST PETER STREET ST PAUL MN 55102 411985749 SECURES BIOMASS FUEL SUPPLY MN 8304046 8089586 DISTRICT ENERGY ST PAUL INC ST PAUL COGENERATION LLC 305 ST PETER STREET ST PAUL MN 55102 411985700 PROVIDES RENEWABLE ENERGY MN 25245679 15461397 DISTRICT ENERGY ST PAUL INC DE ENERGY PARK LLC 305 ST PETER STREET ST PAUL MN 55102 873148965 MANAGEMENT OF DISTRICT ENERGY SYSTEMS MN 294428 11240250 DISTRICT ENERGY ST PAUL INC CITY OF ST PAUL MINNESOTA 15 WEST KELLOGG BOULEVARD ST PAUL MN 55102 416005521 GOVERNMENT MN LINE 6 N/A 0 THE HEIGHTS COMMUNITY ENERGY INC 305 ST PETER STREET ST PAUL MN 55102 992460886 OPERATE DISTRICT ENERGY SYSTEM MN 501(C)(3) 0 EVER-GREEN ENERGY INC 305 ST PETER STREET ST PAUL MN 55102 411938761 CONSULTING & MANAGEMENT SERVICES MN DE SERVICES LLC C 17711623 15889119 1.00000 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 EVER-GREEN ENERGY INC J 239838 FAIR MARKET VALUE EVER-GREEN ENERGY INC O 14404453 BOOK COST/VALUE EVER-GREEN ENERGY INC P 750212 COST EVER-GREEN ENERGY INC Q 36905 COST