Skip to content
Nonprofiteer
← WASHINGTON ELECTRIC CO-OPERATIVE INC

Form 990 for tax year 2022

Filed by WASHINGTON ELECTRIC CO-OPERATIVE INC.

Totals

Total revenue
$6,953,598
Total expenses
$6,953,598
Contributions and grants received
$700,000
Grants paid
$0
Program service revenue
$771
Investment income
$1,213,896
Other revenue
$5,038,931
Total assets, end of year
$65,420,825
Total liabilities, end of year
$39,876,757
Net assets or fund balances, end of year
$25,544,068
Program services expenses (Part IX)
$6,953,598
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.

  • 1f · All other contributions, gifts and grants

    $700,000

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

    total $771 · excluded $771

  • 3 · Investment income

    total $1,213,896 · excluded $1,213,896

  • 6a · Gross rents

    real property $39,845

  • 6c · Rental income or loss

    real property $39,845

  • 6d · Net rental income or loss

    total $39,845 · excluded $39,845

  • 10a · Gross sales of inventory

    $19,995,105

  • 10b · Cost of goods sold

    $15,036,741

  • 10c · Net income from sales of inventory

    total $4,958,364 · related or exempt $4,958,364

  • 11a · Other revenue: CAPITAL CREDITS

    total $40,722 · excluded $40,722

  • 11e · Other revenue, total

    $40,722

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $458,798 · program services $458,798

  • 5 · Compensation of officers, directors and key employees

    total $192,000 · program services $192,000

  • 7 · Other salaries and wages

    total $837,310 · program services $837,310

  • 8 · Pension plan contributions

    total $237,866 · program services $237,866

  • 9 · Other employee benefits

    total $146,660 · program services $146,660

  • 10 · Payroll taxes

    total $84,551 · program services $84,551

  • 11b · Fees: legal

    total $58,377 · program services $58,377

  • 11c · Fees: accounting

    total $32,600 · program services $32,600

  • 11d · Fees: lobbying

    total $1,775 · program services $1,775

  • 11g · Fees: other

    total $36,022 · program services $36,022

  • 13 · Office expenses

    total $16,650 · program services $16,650

  • 14 · Information technology

    total $154,622 · program services $154,622

  • 16 · Occupancy

    total $9,077 · program services $9,077

  • 17 · Travel

    total $21,035 · program services $21,035

  • 20 · Interest

    total $1,192,977 · program services $1,192,977

  • 22 · Depreciation, depletion and amortization

    total $2,450,480 · program services $2,450,480

  • 23 · Insurance

    total $71,011 · program services $71,011

  • 24a · Other expenses: OTHER EXPENSES

    total $549,159 · program services $549,159

  • 24b · Other expenses: TIER 3

    total $210,373 · program services $210,373

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

    total $195,780 · program services $195,780

  • 24d · Other expenses: MEMBER EDUCATION

    total $46,808 · program services $46,808

  • 24e · All other expenses

    total -$50,333 · program services -$50,333

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,365,514 · end of year $1,404,071

  • 4 · Accounts receivable

    beginning of year $2,714,724 · end of year $3,345,428

  • 8 · Inventories for sale or use

    beginning of year $410,018 · end of year $529,757

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,190,032 · end of year $1,097,168

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

    $87,289,519

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

    $39,530,430

  • 10c · Land, buildings and equipment, net

    beginning of year $48,163,751 · end of year $47,759,089

  • 12 · Investments: other securities

    beginning of year $10,390,238 · end of year $10,441,287

  • 15 · Other assets

    beginning of year $837,190 · end of year $844,025

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,759,659 · end of year $3,845,433

  • 23 · Secured mortgages and notes payable

    beginning of year $35,858,651 · end of year $35,707,115

  • 25 · Other liabilities

    beginning of year $1,017,010 · end of year $324,209

  • 31 · Retained earnings, endowment or other funds

    beginning of year $25,436,147 · end of year $25,544,068

Mission and programs · 2022

Mission

TO PROVIDE RESIDENTIAL AND COMMERCIAL ELECTRICAL SERVICE TO COOPERATIVE MEMBERS.

  • PROVIDE RESIDENTIAL AND COMMERCIAL ELECTRICAL SERVICE TO COOPERATIVE MEMBERS.

As filed on the 2022 return.

Listed in Part VII

  • Amos Turner

    CONSTRUCTION

    Total calculated
    $211,398
    From this org
    $158,559
    From related orgs
    $0
    Other
    $52,839
    Hours/week
    46.1

    Schedule J breakdown matched by us

    Base
    $151,580
    Bonus
    not reported
    Other
    $6,979
    Deferred
    $32,833
    Nontaxable benefits
    $20,006
    Filer's total
    $211,398

  • Jason Preston

    MAINTENANCE

    Total calculated
    $209,502
    From this org
    $156,029
    From related orgs
    $0
    Other
    $53,473
    Hours/week
    46.4

    Schedule J breakdown matched by us

    Base
    $149,265
    Bonus
    not reported
    Other
    $6,764
    Deferred
    $33,467
    Nontaxable benefits
    $20,006
    Filer's total
    $209,502

  • Jason Smith

    LINEWORKER

    Total calculated
    $208,058
    From this org
    $150,027
    From related orgs
    $0
    Other
    $58,031
    Hours/week
    44.8

    Schedule J breakdown matched by us

    Base
    $143,048
    Bonus
    not reported
    Other
    $6,979
    Deferred
    $38,025
    Nontaxable benefits
    $20,006
    Filer's total
    $208,058

  • Donnie Singleton

    LINEWORKER

    Total calculated
    $205,102
    From this org
    $148,522
    From related orgs
    $0
    Other
    $56,580
    Hours/week
    46.8

    Schedule J breakdown matched by us

    Base
    $142,043
    Bonus
    not reported
    Other
    $6,479
    Deferred
    $36,574
    Nontaxable benefits
    $20,006
    Filer's total
    $205,102

  • Dave Kresock

    DIR OF OPER

    Total calculated
    $202,180
    From this org
    $157,748
    From related orgs
    $0
    Other
    $44,432
    Hours/week
    45.4

    Schedule J breakdown matched by us

    Base
    $153,900
    Bonus
    not reported
    Other
    $3,848
    Deferred
    $24,426
    Nontaxable benefits
    $20,006
    Filer's total
    $202,180

  • Louis Porter

    GENERAL MANA

    Total calculated
    $162,737
    From this org
    $158,127
    From related orgs
    $0
    Other
    $4,610
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $156,920
    Bonus
    not reported
    Other
    $1,207
    Deferred
    $4,610
    Nontaxable benefits
    not reported
    Filer's total
    $162,737

  • Donald Douglas

    TREASURER

    Total calculated
    $6,135
    From this org
    $6,135
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Steve Knowlton

    PRESIDENT (J

    Total calculated
    $4,960
    From this org
    $4,960
    From related orgs
    $0
    Other
    $0
    Hours/week
    16

  • Roger Fox

    VICE PRESIDE

    Total calculated
    $4,470
    From this org
    $4,470
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Mary Just Skinner

    SECRETARY (J

    Total calculated
    $4,125
    From this org
    $4,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Steve Farnham

    DIRECTOR

    Total calculated
    $3,105
    From this org
    $3,105
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Elizabeth Allen

    DIRECTOR

    Total calculated
    $2,675
    From this org
    $2,675
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Susan Alexander

    DIRECTOR

    Total calculated
    $2,530
    From this org
    $2,530
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jean Hamilton

    DIRECTOR

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

  • Barry Bernstein

    PRESIDENT (J

    Total calculated
    $1,950
    From this org
    $1,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Richard Rubin

    DIRECTOR

    Total calculated
    $1,950
    From this org
    $1,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Annie Reed

    SECRETARY (J

    Total calculated
    $1,155
    From this org
    $1,155
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

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 $28,453 · share of assets $426,602

    Directly controlled by WASHINGTON ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2022
Filed
4 May 2023
IRS schema version
2022v5.0
Source object
202301309349300805

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.