Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC ENERGY SALES

  total $35,620,123 · related or exempt $35,620,123

• 2b · Program service revenue: POLE RENTAL INCOME

  total $59,501 · excluded $59,501

• 3 · Investment income

  total $340,488 · excluded $340,488

• 6a · Gross rents

  real property $110,200

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $110,200

• 6d · Net rental income or loss

  total $110,200 · excluded $110,200

• 7a · Gross sales of assets other than inventory

  other assets $34,968

• 7b · Less cost or other basis and sales expenses

  other assets $0

• 7c · Gain or loss

  other assets $34,968

• 7d · Net gain or loss

  total $34,968 · excluded $34,968

• 11a · Other revenue: PATRONAGE CAPITAL CREDITS

  total $130,840 · related or exempt $130,840

• 11b · Other revenue: OTHER INCOME

  total $73,436 · related or exempt $73,436

• 11c · Other revenue: UNAPPROPROPRIATED SUB EARNINGS

  total -$82,599 · related or exempt -$82,599

• 11e · Other revenue, total

  $121,677

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $3,987,816

• 5 · Compensation of officers, directors and key employees

  total $1,122,832

• 8 · Pension plan contributions

  total $1,873,014

• 20 · Interest

  total $1,958,756

• 22 · Depreciation, depletion and amortization

  total $5,416,107

• 24a · Other expenses: COST OF PURCHASED POWER

  total $9,756,442

• 24b · Other expenses: DISTRIBUTION EXPENSES

  total $3,900,843

• 24c · Other expenses: MAINTENANCE EXPENSES

  total $3,107,333

• 24d · Other expenses: ADMIN & GENERAL

  total $1,676,100

• 24e · All other expenses

  total $3,570,313

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,296,969 · end of year $2,319,169

• 2 · Savings and temporary cash investments

  beginning of year $7,294,012 · end of year $8,369,111

• 4 · Accounts receivable

  beginning of year $5,561,141 · end of year $6,240,612

• 8 · Inventories for sale or use

  beginning of year $4,122,049 · end of year $3,766,502

• 9 · Prepaid expenses and deferred charges

  beginning of year $490,686 · end of year $733,741

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

  $167,463,779

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

  $65,956,423

• 10c · Land, buildings and equipment, net

  beginning of year $98,332,083 · end of year $101,507,356

• 12 · Investments: other securities

  beginning of year $1,452,951 · end of year $1,551,416

• 13 · Investments: program-related

  beginning of year -$11,093,287 · end of year -$11,173,486

• 14 · Intangible assets

  beginning of year $59,782 · end of year $39,609

• 15 · Other assets

  beginning of year $1,525,649 · end of year $4,556,746

• 17 · Accounts payable and accrued expenses

  beginning of year $3,429,809 · end of year $3,357,567

• 23 · Secured mortgages and notes payable

  beginning of year $67,074,838 · end of year $69,182,615

• 25 · Other liabilities

  beginning of year $406,996 · end of year $380,720

• 29 · Capital stock, trust principal or current funds

  beginning of year $58,225 · end of year $58,380

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

  beginning of year $10,015,079 · end of year $10,997,394

• 31 · Retained earnings, endowment or other funds

  beginning of year $32,057,088 · end of year $33,934,100

The filer's explanations (Part III)

PART I, LINE 4B

J. FOSTER HILDRETH, GENERAL MANAGER, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT EARNED IN 2022 WAS $12,000.

Related corporations and trusts

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

• ISLAND NETWORK LLC

  C · INTERNET PROVIDER · WA · 100% owned · share of income -$82,599 · share of assets $22,048,659 · controlled entity

  Directly controlled by ORCAS POWER & LIGHT COOPERATIVE