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Nonprofiteer
← WASHINGTON ELECTRIC CO-OPERATIVE INC

Form 990 for tax year 2024

Filed by WASHINGTON ELECTRIC CO-OPERATIVE INC.

Totals

Total revenue
$8,182,204
Total expenses
$8,182,204
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$514
Investment income
$1,307,688
Other revenue
$6,874,002
Total assets, end of year
$65,979,044
Total liabilities, end of year
$39,093,536
Net assets or fund balances, end of year
$26,885,508
Program services expenses (Part IX)
$8,182,204
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: POWER QUALITY/MERCHANDISING

    total $514 · excluded $514

  • 3 · Investment income

    total $1,285,936 · excluded $1,285,936

  • 6a · Gross rents

    real property $42,196

  • 6c · Rental income or loss

    real property $42,196

  • 6d · Net rental income or loss

    total $42,196 · excluded $42,196

  • 7a · Gross sales of assets other than inventory

    securities $21,752

  • 7c · Gain or loss

    securities $21,752

  • 7d · Net gain or loss

    total $21,752 · related or exempt $21,752

  • 10a · Gross sales of inventory

    $23,383,590

  • 10b · Cost of goods sold

    $16,572,750

  • 10c · Net income from sales of inventory

    total $6,810,840 · related or exempt $6,810,840

  • 11a · Other revenue: CAPITAL CREDITS

    total $20,966 · excluded $20,966

  • 11e · Other revenue, total

    $20,966

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $868,466 · program services $868,466

  • 5 · Compensation of officers, directors and key employees

    total $187,361 · program services $187,361

  • 7 · Other salaries and wages

    total $1,000,880 · program services $1,000,880

  • 8 · Pension plan contributions

    total $311,416 · program services $311,416

  • 9 · Other employee benefits

    total $202,900 · program services $202,900

  • 10 · Payroll taxes

    total $103,530 · program services $103,530

  • 11b · Fees: legal

    total $93,244 · program services $93,244

  • 11c · Fees: accounting

    total $37,585 · program services $37,585

  • 11d · Fees: lobbying

    total $14,877 · program services $14,877

  • 11g · Fees: other

    total $44,169 · program services $44,169

  • 13 · Office expenses

    total $20,156 · program services $20,156

  • 14 · Information technology

    total $203,453 · program services $203,453

  • 16 · Occupancy

    total $10,749 · program services $10,749

  • 17 · Travel

    total $15,829 · program services $15,829

  • 20 · Interest

    total $1,194,856 · program services $1,194,856

  • 22 · Depreciation, depletion and amortization

    total $2,590,331 · program services $2,590,331

  • 23 · Insurance

    total $84,621 · program services $84,621

  • 24a · Other expenses: OTHER EXPENSES

    total $757,944 · program services $757,944

  • 24b · Other expenses: GROSS REC. & GROSS REV TA

    total $227,074 · program services $227,074

  • 24c · Other expenses: TIER 3

    total $149,090 · program services $149,090

  • 24d · Other expenses: MEMBER EDUCATION

    total $46,200 · program services $46,200

  • 24e · All other expenses

    total $17,473 · program services $17,473

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $820,735 · end of year $544,246

  • 4 · Accounts receivable

    beginning of year $4,034,287 · end of year $3,384,252

  • 8 · Inventories for sale or use

    beginning of year $547,801 · end of year $569,477

  • 9 · Prepaid expenses and deferred charges

    beginning of year $837,979 · end of year $653,695

  • 10a · Land, buildings and equipment: cost or other basis

    $91,950,670

  • 10b · Land, buildings and equipment: accumulated depreciation

    $43,899,608

  • 10c · Land, buildings and equipment, net

    beginning of year $47,389,617 · end of year $48,051,062

  • 12 · Investments: other securities

    beginning of year $10,961,455 · end of year $11,668,809

  • 15 · Other assets

    beginning of year $958,047 · end of year $1,107,503

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,190,314 · end of year $2,959,378

  • 23 · Secured mortgages and notes payable

    beginning of year $34,925,598 · end of year $33,391,678

  • 25 · Other liabilities

    beginning of year $1,192,994 · end of year $2,742,480

  • 31 · Retained earnings, endowment or other funds

    beginning of year $26,241,015 · end of year $26,885,508

Mission and programs · 2024

Mission

TO PROVIDE RESIDENTIAL AND COMMERCIAL ELECTRICAL SERVICE TO COOPERATIVE MEMBERS.

  • PROVIDE RESIDENTIAL AND COMMERCIAL ELECTRICAL SERVICE TO COOPERATIVE MEMBERS.

As filed on the 2024 return.

Listed in Part VII

  • Teia Greenslit

    DIR OF FINAN

    Total calculated
    $270,659
    From this org
    $154,093
    From related orgs
    $0
    Other
    $116,566
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $145,808
    Bonus
    not reported
    Other
    $8,285
    Deferred
    $94,496
    Nontaxable benefits
    $22,070
    Filer's total
    $270,659

  • Dave Kresock

    DIR OF OPER

    Total calculated
    $226,289
    From this org
    $170,342
    From related orgs
    $0
    Other
    $55,947
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $163,587
    Bonus
    not reported
    Other
    $6,755
    Deferred
    $33,877
    Nontaxable benefits
    $22,070
    Filer's total
    $226,289

  • Amos Turner

    CONSTRUCTION

    Total calculated
    $222,982
    From this org
    $180,211
    From related orgs
    $0
    Other
    $42,771
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $172,867
    Bonus
    not reported
    Other
    $7,344
    Deferred
    $20,701
    Nontaxable benefits
    $22,070
    Filer's total
    $222,982

  • Jason Preston

    MAINTENANCE

    Total calculated
    $212,834
    From this org
    $170,187
    From related orgs
    $0
    Other
    $42,647
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $163,084
    Bonus
    not reported
    Other
    $7,103
    Deferred
    $20,577
    Nontaxable benefits
    $22,070
    Filer's total
    $212,834

  • Donald Singleton

    LINEWORKER

    Total calculated
    $210,785
    From this org
    $163,351
    From related orgs
    $0
    Other
    $47,434
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $156,570
    Bonus
    not reported
    Other
    $6,781
    Deferred
    $25,364
    Nontaxable benefits
    $22,070
    Filer's total
    $210,785

  • Louis Porter

    GENERAL MANA

    Total calculated
    $182,935
    From this org
    $166,820
    From related orgs
    $0
    Other
    $16,115
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $160,316
    Bonus
    not reported
    Other
    $6,504
    Deferred
    $16,115
    Nontaxable benefits
    not reported
    Filer's total
    $182,935

  • Mary Just Skinner

    VICE PRESIDE

    Total calculated
    $4,425
    From this org
    $4,425
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Donald Douglas

    TREASURER

    Total calculated
    $4,350
    From this org
    $4,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    21

  • Steve Farnham

    DIRECTOR

    Total calculated
    $3,675
    From this org
    $3,675
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Susan Alexander

    DIRECTOR

    Total calculated
    $3,660
    From this org
    $3,660
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Steve Knowlton

    PRESIDENT

    Total calculated
    $3,360
    From this org
    $3,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Elizabeth Allen

    SECTRETARY

    Total calculated
    $2,850
    From this org
    $2,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Benjamin Barnes

    DIRECTOR

    Total calculated
    $2,025
    From this org
    $2,025
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Jean Hamilton

    DIRECTOR

    Total calculated
    $1,650
    From this org
    $1,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Olivia Campbell

    DIRECTOR

    Total calculated
    $1,050
    From this org
    $1,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • COVENTRY CLEAN ENERGY CORPORATION

    C CORP · ELEC. PROD · VT · 100% owned · share of income $10,095 · share of assets $477,691

    Directly controlled by WASHINGTON ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2024
Filed
2 May 2025
IRS schema version
2024v5.0
Source object
202521289349304452

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