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Nonprofiteer
← ALASKA ELECTRIC AND ENERGY COOPERATIVE INC

Form 990 for tax year 2022

Filed by ALASKA ELECTRIC AND ENERGY COOPERATIVE INC.

Totals

Total revenue
$68,025,106
Total expenses
$67,688,373
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$67,974,839
Investment income
$50,267
Other revenue
$0
Total assets, end of year
$252,642,446
Total liabilities, end of year
$198,665,645
Net assets or fund balances, end of year
$53,976,801
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: ELECTRIC SERVICE REVENUE

    total $67,765,808 · related or exempt $67,765,808

  • 2b · Program service revenue: CAPITAL CREDIT ALLOCATION

    total $207,931 · related or exempt $207,931

  • 2c · Program service revenue: OTHER REVENUE

    total $1,100 · related or exempt $1,100

  • 3 · Investment income

    total $50,267 · excluded $50,267

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0

  • 5 · Royalties

    total $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0

  • 7d · Net gain or loss

    total $0

  • 8a · Fundraising events: gross income

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $0

  • 3 · Grants to foreign organizations and individuals

    total $0

  • 4 · Benefits paid to or for members

    total $0

  • 5 · Compensation of officers, directors and key employees

    total $0

  • 6 · Compensation of disqualified persons

    total $0

  • 7 · Other salaries and wages

    total $0

  • 8 · Pension plan contributions

    total $0

  • 9 · Other employee benefits

    total $0

  • 10 · Payroll taxes

    total $0

  • 11a · Fees: management

    total $0

  • 11b · Fees: legal

    total $0

  • 11c · Fees: accounting

    total $0

  • 11d · Fees: lobbying

    total $0

  • 11e · Fees: professional fundraising services

    total $0

  • 11f · Fees: investment management

    total $0

  • 11g · Fees: other

    total $116,970

  • 12 · Advertising and promotion

    total $0

  • 13 · Office expenses

    total $0

  • 14 · Information technology

    total $0

  • 15 · Royalties

    total $0

  • 16 · Occupancy

    total $0

  • 17 · Travel

    total $0

  • 18 · Travel or entertainment for public officials

    total $0

  • 19 · Conferences, conventions and meetings

    total $0

  • 20 · Interest

    total $7,064,809

  • 21 · Payments to affiliates

    total $0

  • 22 · Depreciation, depletion and amortization

    total $12,165,208

  • 23 · Insurance

    total $23,110

  • 24a · Other expenses: FUEL COSTS

    total $34,535,661

  • 24b · Other expenses: PRODUCTION OPERATIONS/MAINT.

    total $8,222,332

  • 24c · Other expenses: PURCHASED POWER COST

    total $5,047,330

  • 24d · Other expenses: ADMINISTRATIVE AND GENERAL

    total $512,953

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $7,201,780 · end of year $3,292,858

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $1,601,873

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $7,812,776 · end of year $6,702,048

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $3,441,781 · end of year $5,053,062

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,018,379 · end of year $2,365,449

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

    $357,298,718

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

    $129,540,633

  • 10c · Land, buildings and equipment, net

    beginning of year $234,942,237 · end of year $227,758,085

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $5,999,575 · end of year $5,869,071

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $1,528,341 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,647,063 · end of year $5,422,058

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $8,100 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $203,649,638 · end of year $193,243,587

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0 · end of year $0

  • 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 $53,640,068 · end of year $53,976,801

Mission and programs · 2022

Mission

TO SAFELY PROVIDE RELIABLE ELECTRICITY TO OUR MEMBERS AND OUR COMMUNITY THROUGH SUPERIOR CUSTOMER SERVICE AND INNOVATIVE ENERGY SOLUTIONS AT FAIR AND REASONABLE PRICES.

Activities or mission (Part I)

PROVISION OF POWER REQUIREMENTS TO HOMER ELECTRIC ASSOCIATION.

  • GENERATE AND SUPPLY WHOLESALE ELECTRIC POWER TO MEET THE NEEDS OF OUR MEMBER DISTRIBUTION COOPERATIVE, HOMER ELECTRIC ASSOCIATION.

As filed on the 2022 return.

Listed in Part VII

  • Bradley P Janorschke

    General Manager

    Total calculated
    $554,200
    From this org
    $0
    From related orgs
    $379,984
    Other
    $174,216
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $354,984 related
    Bonus
    not reported + $25,000 related
    Other
    not reported
    Deferred
    not reported + $125,751 related
    Nontaxable benefits
    not reported + $48,465 related
    Filer's total
    not reported + $554,200 related

  • Sarah Lambe

    Director of Finance

    Total calculated
    $331,283
    From this org
    $0
    From related orgs
    $203,406
    Other
    $127,877
    Hours/week
    1 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $203,406 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $83,212 related
    Nontaxable benefits
    not reported + $44,665 related
    Filer's total
    not reported + $331,283 related

  • David Thomas

    Manager Of Strategic Affairs

    Total calculated
    $280,771
    From this org
    $0
    From related orgs
    $205,575
    Other
    $75,196
    Hours/week
    0 + 40 related

    Schedule J breakdown matched by us

    Base
    not reported + $205,575 related
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported + $33,247 related
    Nontaxable benefits
    not reported + $41,949 related
    Filer's total
    not reported + $280,771 related

  • Erin McKittrick

    President

    Total calculated
    $8,250
    From this org
    $0
    From related orgs
    $8,250
    Other
    $0
    Hours/week
    0.5 + 2 related

  • Dan Furlong

    Director

    Total calculated
    $5,500
    From this org
    $0
    From related orgs
    $5,500
    Other
    $0
    Hours/week
    0.5 + 2 related

  • Robert Wall

    Director

    Total calculated
    $4,150
    From this org
    $0
    From related orgs
    $4,150
    Other
    $0
    Hours/week
    0.5 + 1 related

  • Charles Rudstrom

    Vice President

    Total calculated
    $3,850
    From this org
    $0
    From related orgs
    $3,850
    Other
    $0
    Hours/week
    0.5 + 1 related

  • James Duffield II

    Secretary/Treasurer

    Total calculated
    $3,500
    From this org
    $0
    From related orgs
    $3,500
    Other
    $0
    Hours/week
    0.5 + 1 related

  • Charles Chenault

    Director

    Total calculated
    $2,750
    From this org
    $0
    From related orgs
    $2,750
    Other
    $0
    Hours/week
    0.5 + 1 related

  • Edward Oberts

    Director

    Total calculated
    $1,850
    From this org
    $0
    From related orgs
    $1,850
    Other
    $0
    Hours/week
    0.5 + 2 related

  • Eugene Levine

    Deputy Secretary

    Total calculated
    $1,750
    From this org
    $0
    From related orgs
    $1,750
    Other
    $0
    Hours/week
    0.5

  • Wayne Ogle

    Director

    Total calculated
    $1,500
    From this org
    $0
    From related orgs
    $1,500
    Other
    $0
    Hours/week
    0.5 + 1 related

  • Dan Chay

    Director

    Total calculated
    $1,000
    From this org
    $0
    From related orgs
    $1,000
    Other
    $0
    Hours/week
    0.5 + 1 related

  • Louis Flora

    Director

    Total calculated
    $750
    From this org
    $0
    From related orgs
    $750
    Other
    $0
    Hours/week
    0.5 + 1 related

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

None.

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • KENAI HYDRO LLC

    HYDRO POWER · DE · income $0 · assets $3,498,479

    Directly controlled by AK ELECTRIC

Provenance

Return type
form_990
Tax year
2022
Filed
15 November 2023
IRS schema version
2022v5.0
Source object
202303199349310195

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