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← MATANUSKA ELECTRIC ASSOCIATION INC

Form 990 for tax year 2024

Filed by MATANUSKA ELECTRIC ASSOCIATION INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2024 , filed 11 August 2026. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Total revenue
$129,284,748 changed to $182,136,592
Total expenses
$129,284,748 changed to $182,136,592
Grants paid
$25,000 changed to $35,000
Program service revenue
$128,863,837 changed to $181,367,269
Investment income
$83,852 changed to $282,966
Other revenue
$337,059 changed to $486,357
Total assets, end of year
$663,403,201 changed to $671,991,536
Total liabilities, end of year
$460,748,725 changed to $459,534,491
Net assets or fund balances, end of year
$202,654,476 changed to $212,457,045

Listed only on the later return

  • Anthony M Izzo
  • Brian J Hickey
  • Edward M Jenkin
  • Julie Estey
  • Matthew J Reisterer
  • Tony Zellers
  • Wyatt A Schmiege

Listed under a different title

  • Arthur Keyes: DIRECTOR then VICE PRESIDENT
  • Mark Masteller: VICE PRESIDENT then DIRECTOR

Totals

Total revenue
$129,284,748
Total expenses
$129,284,748
Contributions and grants received
$0
Grants paid
$25,000
Program service revenue
$128,863,837
Investment income
$83,852
Other revenue
$337,059
Total assets, end of year
$663,403,201
Total liabilities, end of year
$460,748,725
Net assets or fund balances, end of year
$202,654,476
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: ENERGY SALES

    total $126,000,618 · related or exempt $126,000,618

  • 2b · Program service revenue: OTHER ELECTRIC REVENUE

    total $1,427,280 · related or exempt $1,427,280

  • 2c · Program service revenue: PATRONAGE ALLOCATIONS

    total $1,010,701 · related or exempt $1,010,701

  • 2d · Program service revenue: ALLOW/FUNDS USED CONST

    total $373,211 · related or exempt $373,211

  • 2e · Program service revenue: TRANSMISSION REVENUE

    total $52,027 · related or exempt $52,027

  • 3 · Investment income

    total $83,852 · excluded $83,852

  • 6a · Gross rents

    real property $3,465

  • 6b · Less rental expenses

    real property $7,424

  • 6c · Rental income or loss

    real property -$3,959

  • 6d · Net rental income or loss

    total -$3,959 · excluded -$3,959

  • 11a · Other revenue: POLE RENTAL

    total $341,018 · excluded $341,018

  • 11e · Other revenue, total

    $341,018

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $25,000

  • 4 · Benefits paid to or for members

    total $5,380,781

  • 20 · Interest

    total $13,531,546

  • 22 · Depreciation, depletion and amortization

    total $18,754,833

  • 24a · Other expenses: COST OF POWER & PROD.

    total $57,989,652

  • 24b · Other expenses: DISTR. OPS. & MAINT.

    total $15,021,697

  • 24c · Other expenses: ADMIN. & GENERAL EXP.

    total $11,754,630

  • 24d · Other expenses: CONS. ACCTS & CUST SRVC

    total $5,524,151

  • 24e · All other expenses

    total $1,302,458

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $5,368 · end of year $5,368

  • 2 · Savings and temporary cash investments

    beginning of year $1,812,500 · end of year $2,092,500

  • 4 · Accounts receivable

    beginning of year $12,794,228 · end of year $11,908,264

  • 8 · Inventories for sale or use

    beginning of year $23,201,062 · end of year $25,003,638

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,618,756 · end of year $7,469,699

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

    $902,588,228

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

    $316,860,706

  • 10c · Land, buildings and equipment, net

    beginning of year $574,303,921 · end of year $585,727,522

  • 13 · Investments: program-related

    beginning of year $18,266,197 · end of year $18,889,326

  • 15 · Other assets

    beginning of year $11,701,319 · end of year $12,306,884

  • 17 · Accounts payable and accrued expenses

    beginning of year $11,486,071 · end of year $17,036,230

  • 23 · Secured mortgages and notes payable

    beginning of year $425,991,436 · end of year $428,253,857

  • 25 · Other liabilities

    beginning of year $13,934,390 · end of year $15,458,638

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $187,117,884 · end of year $197,273,695

  • 31 · Retained earnings, endowment or other funds

    beginning of year $10,173,570 · end of year $5,380,781

Mission and programs · 2024

Mission

TO PROVIDE SAFE RELIABLE ENERGY AT REASONABLE RATES WITH EXCEPTIONAL MEMBER SERVICE AND COMMITMENT TO THE COMMUNITY WE SERVE.

Activities or mission (Part I)

ENERGY SALES TO 71,845 MEMBER CUSTOMERS.

  • ENERGY SALES TO 71,845 MEMBER CUSTOMERS

As filed on the 2024 return.

Listed in Part VII

  • Bill Kendig

    PRESIDENT

    Total calculated
    $0
    Hours/week
    4

  • Mark Masteller

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Dan Tucker

    SECRETARY-TREASURER

    Total calculated
    $0
    Hours/week
    4

  • Mark Hamm

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • Arthur Keyes

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Anastasia Buretta

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Maxwell Sumner

    DIRECTOR

    Total calculated
    $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.

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.

  • ALASKA ELECTRIC GENERATION & TRANSMISSION INC - CLASS B

    C · G&T - COOPERATIVE · AK · 100% owned · share of assets $100 · controlled entity

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.2
Source object
202523189349315822

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