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Nonprofiteer
← NAKNEK ELECTRIC ASSOCIATION INC

Form 990 for tax year 2025

Filed by NAKNEK ELECTRIC ASSOCIATION INC.

Totals

Total revenue
$13,054,861
Total expenses
$13,038,597
Contributions and grants received
$2,181,261
Grants paid
$0
Program service revenue
$10,681,582
Investment income
$84,459
Other revenue
$107,559
Total assets, end of year
$45,793,844
Total liabilities, end of year
$29,898,434
Net assets or fund balances, end of year
$15,895,410
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.

  • 1e · Government grants (contributions)

    $2,181,261

  • 2a · Program service revenue: ELECTRIC REVENUES

    total $10,077,102 · related or exempt $10,077,102

  • 2b · Program service revenue: OTHER OPERATING REVENUES

    total $604,480 · related or exempt $604,480

  • 3 · Investment income

    total $84,459 · excluded $84,459

  • 11a · Other revenue: OTHER INCOME

    total $52,250 · related or exempt $52,250

  • 11b · Other revenue: GAIN ON INVESTMENT

    total $49,090 · related or exempt $49,090

  • 11c · Other revenue: PATRONAGE CAPITAL

    total $6,219 · related or exempt $6,219

  • 11e · Other revenue, total

    $107,559

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $235,257

  • 20 · Interest

    total $504,682

  • 22 · Depreciation, depletion and amortization

    total $1,326,428

  • 24a · Other expenses: FUEL COST

    total $4,336,113

  • 24b · Other expenses: POWER PRODUCTION

    total $2,716,080

  • 24c · Other expenses: GENERAL & ADMINISTRATIV

    total $1,494,113

  • 24d · Other expenses: DISTRIBUTION OPERATIONS

    total $913,117

  • 24e · All other expenses

    total $1,512,807

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $944,665 · end of year $1,464,111

  • 2 · Savings and temporary cash investments

    beginning of year $21,015 · end of year $21,383

  • 4 · Accounts receivable

    beginning of year $790,310 · end of year $1,071,694

  • 8 · Inventories for sale or use

    beginning of year $4,899,940 · end of year $4,561,869

  • 9 · Prepaid expenses and deferred charges

    beginning of year $16,844,593 · end of year $15,840,068

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

    $45,157,300

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

    $26,804,585

  • 10c · Land, buildings and equipment, net

    beginning of year $17,562,392 · end of year $18,352,715

  • 12 · Investments: other securities

    beginning of year $4,018,429 · end of year $3,306,012

  • 15 · Other assets

    beginning of year $116,694 · end of year $1,175,992

  • 17 · Accounts payable and accrued expenses

    beginning of year $176,410 · end of year $334,982

  • 23 · Secured mortgages and notes payable

    beginning of year $24,139,961 · end of year $24,403,179

  • 25 · Other liabilities

    beginning of year $5,002,493 · end of year $5,160,273

  • 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 $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $15,879,174 · end of year $15,895,410

Mission and programs · 2025

Mission

GENERATION AND SALE OF ELECTRICAL ENERGY TO THE COMMUNITIES OF NAKNEK, SOUTH NAKNEK AND KING SALMON, AK.

  • GENERATION AND SALE OF ELECTRICAL ENERGY TO THE COMMUNITIES OF NAKNEK, SOUTH NAKNEK AND KING SALMON, AK. AT DECEMBER 31, 2025, 1,039 ELECTRIC LINES WERE IN SERVICE.

As filed on the 2025 return.

Listed in Part VII

  • Timothy McDermott

    PRESIDENT

    Total calculated
    $1,825
    From this org
    $1,275
    From related orgs
    $0
    Other
    $550
    Hours/week
    2

  • Nanci Lyon

    VICE PRESIDENT

    Total calculated
    $2,575
    From this org
    $2,025
    From related orgs
    $0
    Other
    $550
    Hours/week
    1

  • Lisa Anderson

    SECRETARY/TREASURER

    Total calculated
    $1,675
    From this org
    $1,125
    From related orgs
    $0
    Other
    $550
    Hours/week
    1

  • Sylvia Alford

    DIRECTOR

    Total calculated
    $2,350
    From this org
    $1,800
    From related orgs
    $0
    Other
    $550
    Hours/week
    1

  • Earl Hubb

    DIRECTOR

    Total calculated
    $574
    From this org
    $225
    From related orgs
    $0
    Other
    $349
    Hours/week
    1

  • Cathryn Stiles

    DIRECTOR

    Total calculated
    $1,300
    From this org
    $750
    From related orgs
    $0
    Other
    $550
    Hours/week
    1

  • Judy Jo Matson

    DIRECTOR

    Total calculated
    $750
    From this org
    $750
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Sarah Bruce

    DIRECTOR

    Total calculated
    $225
    From this org
    $225
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Dianne King

    GENERAL MANAGER

    Total calculated
    $223,982
    From this org
    $167,710
    From related orgs
    $0
    Other
    $56,272
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $167,710
    Bonus
    $0
    Other
    $0
    Deferred
    $25,156
    Nontaxable benefits
    $31,116
    Filer's total
    $223,982

  • Jeffery Kashevarof

    PLANT FOREMAN

    Total calculated
    $217,630
    From this org
    $164,751
    From related orgs
    $0
    Other
    $52,879
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,751
    Bonus
    $0
    Other
    $0
    Deferred
    $22,043
    Nontaxable benefits
    $30,836
    Filer's total
    $217,630

  • Ryan Anderson

    LINEMAN

    Total calculated
    $205,373
    From this org
    $152,515
    From related orgs
    $0
    Other
    $52,858
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $152,515
    Bonus
    $0
    Other
    $0
    Deferred
    $22,056
    Nontaxable benefits
    $30,802
    Filer's total
    $205,373

  • Michael James

    OPERATOR

    Total calculated
    $183,357
    From this org
    $131,264
    From related orgs
    $0
    Other
    $52,093
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,264
    Bonus
    $0
    Other
    $0
    Deferred
    $21,338
    Nontaxable benefits
    $30,755
    Filer's total
    $183,357

  • Kenneth Pulice

    OPERATIONS MANAGER

    Total calculated
    $181,700
    From this org
    $131,076
    From related orgs
    $0
    Other
    $50,624
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $131,076
    Bonus
    $0
    Other
    $0
    Deferred
    $19,661
    Nontaxable benefits
    $30,963
    Filer's total
    $181,700

  • Pero Skaric

    OPERATOR

    Total calculated
    $174,166
    From this org
    $122,245
    From related orgs
    $0
    Other
    $51,921
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $122,245
    Bonus
    $0
    Other
    $0
    Deferred
    $21,213
    Nontaxable benefits
    $30,708
    Filer's total
    $174,166

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 · 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

The filer's explanations (Part III)

PART I, LINE 3
THE BOARD OF DIRECTORS, BY VOTE, SETS THE RATE OF COMPENSATION FOR THE GENERAL MANAGER.

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.

Provenance

Return type
form_990
Tax year
2025
Filed
13 July 2026
IRS schema version
2025v4.2
Source object
202602029349301410

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