2026-07-24T16:26:45-05:00 2025-12-31 410746749 CLIFTONLARSONALLEN LLP 220 S 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2025-01-01 991493182 SOLARIS INITIATIVE SOLA 7632296662 100 ISANTI PARKWAY NE ISANTI MN 55040 JON LATCHAM TREASURER 7632296662 2026-07-24 1 ERIC KIRSCHNER P01814712 6123764500 2026-07-23 2025 2025-03-06 01:10:19Z X X JON LATCHAM 100 ISANTI PARKWAY NE ISANTI MN 55040 653231 0 X N/A X 2024 MN EXPAND ACCESS TO CLEAN RENEWABLE ENERGY BY OFFERING AFFORDABLE SOLAR LEASE OPTIONS. 12 12 0 7 0 0 0 0 0 653230 0 1 0 0 0 653231 0 0 0 0 0 0 0 0 0 0 449558 0 449558 0 203673 517558 5045442 517558 4845275 0 200167 X TO EXPAND ACCESS TO CLEAN, RENEWABLE ENERGY BY OFFERING AFFORDABLE SOLAR LEASE OPTIONS TO HOMEOWNERS. WE BELIEVE THAT COST SHOULD NEVER BE A BARRIER TO SUSTAINABILITY. BY REMOVING THE UPFRONT FINANCIAL BURDEN OR PURCHASING SOLAR SYSTEMS, WE EMPOWER FAMILIES TO REDUCE THEIR UTILITY BILLS, INCREASE ENERGY INDEPENDENCE, AND CONTRIBUTE TO A HEALTHIER ENVIRONMENT, WHILE BUILDING STRONGER, MORE RESILIENT COMMUNITIES POWERED BY THE SUN. 0 0 0 0 1477 FISCAL YEAR 2025 THE SOLAR LEASE PROGRAM LAUNCHED IN Q4 OF FISCAL YEAR 2024, AND, WHILE ULTIMATELY SUCCESSFUL, IT DIDN'T GAIN MUCH TRACTION UNTIL Q2 OF 2025. 2025 IS THE 2ND YEAR OF THE LEASE PROGRAM AND WE INSTALLED 23 SYSTEMS USING OUR TRADITIONAL LEASE PRODUCT, WHICH ALLOWED 23 FAMILIES TO REALIZE DAY 1 SAVINGS WITHOUT ANYTHING OUT OF POCKET. IN ADDITION, WE ADDED A FULL YEAR OF NO PAYMENTS TO FAMILIES WHO SIGNED UP IN 2025! DUE TO THIS PROMOTION, REVENUE FROM THE PROGRAM WAS LIMITED, AS THOSE FAMILIES DON'T PAY UNTIL 2026. 0 0 612535 IN Q3 OF 2025 WE LAUNCHED OUR PREPAID LEASE PROGRAM SIMPLY AS A RESULT OF THE DEMAND FOR A PREPAID LEASE. THE NEW PREPAID PROGRAM DOESN'T RESULT IN "DAY-1" SAVINGS, BUT IT SAVES FAMILIES THOUSANDS OF DOLLARS OVER THE 25-YEAR PERIOD THAT A TRADITIONAL LEASE WOULD COVER. THIS IS OUR "SAVINGS ON TOP OF SAVINGS" PRODUCT. THE HOMEOWNERS STILL GET A SOLAR SYSTEM AT 70% OF THE RETAIL COST OF A SOLAR SYSTEM, BUT PAYING UP FRONT ALSO SAVES THEM THE COST OF IMPLIED INTEREST. THE IDEA CAME FROM A COUPLE OF OUR CUSTOMERS, AND WE WERE HAPPY TO ACCOMMODATE THEIR REQUEST. AS WE HEADED INTO THE FINAL QUARTER OF THE YEAR, THIS PROGRAM WAS THE POPULAR CHOICE AMONGST FAMILIES THAT DECIDED TO GO GREEN! 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 12 12 1 0 0 0 0 0 0 1 0 0 0 1 1 1 1 0 0 0 0 0 MN WI IA X JON LATCHAM 3204938389 11819 MAXWELL RD CHISAGO CITY MN 55013 X ELZA ANDRIANOVA PRESIDENT 0.25 X X 0 0 0 VLADIMIR DIMITROV VICE PRESIDENT 0.25 X X 0 0 0 JON LATCHAM TREASURER 1.00 X X 0 0 0 ALEX FARLEY SECRETARY 0.25 X X 0 0 0 VLADIMIR MARCHENKO DIRECTOR 0.25 X 0 0 0 JUSTIN VIELSEN DIRECTOR 0.25 X 0 0 0 LUKA BOZEK DIRECTOR 0.25 X 0 0 0 CHRISTINA RIPIENSKI DIRECTOR 0.25 X 0 0 0 BRITTANY RIPIENSKI DIRECTOR 0.25 X 0 0 0 BLAKE RIPIENSKI DIRECTOR 0.25 X 0 0 0 DEAN JORDAN DIRECTOR 0.25 X 0 0 0 TATIANA CIBOTARI DIRECTOR 0.25 X 0 0 0 0 0 0 0 0 0 0 0 SOLAR LEASE PROGRAM 900099 653230 653230 653230 1 1 653231 653230 0 1 12429 12429 437129 437129 449558 0 449558 0 192225 189155 3567191 437129 275975 3130062 241583 1534000 517558 5045442 1310435 275975 2000840 241583 1534000 517558 4845275 X 0 200167 0 200167 517558 5045442 203673 -3506 0 X 0 0 0 2064725 437129 1627596 1502466 1502466 3130062 LEASE RECEIVABLE 1534000 1534000 DEFERRED INFLOW OF RESOURCES 1534000 1534000 FORM 990, PART VI, SECTION A, LINE 2 CHRISTINA RIPIENSKI, BLAKE RIPIENSKI AND CHRISTINA RIPIENSKI - FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE COMMITTEES THAT ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE TREASURER, PRESIDENT, VICE PRESIDENT WILL REVIEW THE TAX RETURN IN DURING THE BOARD MEETING IMMEDIATELY FOLLOWING RECEIPT OF THE DRAFT. THE BOARD WILL RECOMMEND CHANGES, OR VOTE ON APPROVAL FOR FILING. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY COVERS ANY DIRECTOR, OFFICER, EMPLOYEE, OR VOLUNTEER WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST OR OTHER PERSONAL INTEREST. AN INTERESTED PERSON MUST DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST TO THE BOARD OF DIRECTORS BEFORE THE ORGANIZATION ENTERS INTO ANY PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF A POTENTIAL CONFLICT, THE BOARD (EXCLUDING THE INTERESTED PERSON, SHALL DISCUSS AND DETERMINE WHETHER A CONFLICT OF INTEREST EXISTS. IF THE BOARD HAS REASONABLE CAUSE TO BELIEVE THAT A PERSON HAS FAILED TO DISCLOSE A CONFLICT, THE PERSON WILL BE GIVEN AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE. IF A VIOLATION IS DETERMINED, APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION SHALL BE TAKEN. THE MINUTES OF BOARD OR COMMITTEE MEETINGS INVOLVING A CONFLICT OF INTEREST SHALL DOCUMENT: THE NAMES OF PERSONS WHO DISCLOSED POTENTIAL CONFLICTS, THE NATURE OF THE CONFLICT, ACTIONS TAKEN TO ADDRESS THE CONFLICT, THE NAMES OF THOSE PRESENT AND THE DECISION MADE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.