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Nonprofiteer
← WASHINGTON ELECTRIC CO-OPERATIVE INC

Form 990 for tax year 2023

Filed by WASHINGTON ELECTRIC CO-OPERATIVE INC.

Totals

Total revenue
$7,858,542
Total expenses
$7,858,542
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,083
Investment income
$1,251,518
Other revenue
$6,604,941
Total assets, end of year
$65,549,921
Total liabilities, end of year
$39,308,906
Net assets or fund balances, end of year
$26,241,015
Program services expenses (Part IX)
$7,858,542
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.

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

    total $2,083 · excluded $2,083

  • 3 · Investment income

    total $1,238,479 · excluded $1,238,479

  • 6a · Gross rents

    real property $41,032

  • 6c · Rental income or loss

    real property $41,032

  • 6d · Net rental income or loss

    total $41,032 · excluded $41,032

  • 7a · Gross sales of assets other than inventory

    securities $13,039

  • 7c · Gain or loss

    securities $13,039

  • 7d · Net gain or loss

    total $13,039 · related or exempt $13,039

  • 10a · Gross sales of inventory

    $22,849,295

  • 10b · Cost of goods sold

    $16,322,936

  • 10c · Net income from sales of inventory

    total $6,526,359 · related or exempt $6,526,359

  • 11a · Other revenue: CAPITAL CREDITS

    total $37,550 · excluded $37,550

  • 11e · Other revenue, total

    $37,550

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $1,067,670 · program services $1,067,670

  • 5 · Compensation of officers, directors and key employees

    total $189,781 · program services $189,781

  • 7 · Other salaries and wages

    total $865,530 · program services $865,530

  • 8 · Pension plan contributions

    total $289,373 · program services $289,373

  • 9 · Other employee benefits

    total $206,061 · program services $206,061

  • 10 · Payroll taxes

    total $86,997 · program services $86,997

  • 11b · Fees: legal

    total $64,659 · program services $64,659

  • 11c · Fees: accounting

    total $36,760 · program services $36,760

  • 11d · Fees: lobbying

    total $12,026 · program services $12,026

  • 11g · Fees: other

    total $6,683 · program services $6,683

  • 13 · Office expenses

    total $20,141 · program services $20,141

  • 14 · Information technology

    total $164,417 · program services $164,417

  • 16 · Occupancy

    total $9,875 · program services $9,875

  • 17 · Travel

    total $22,161 · program services $22,161

  • 20 · Interest

    total $1,177,046 · program services $1,177,046

  • 22 · Depreciation, depletion and amortization

    total $2,507,851 · program services $2,507,851

  • 23 · Insurance

    total $83,717 · program services $83,717

  • 24a · Other expenses: OTHER EXPENSES

    total $653,126 · program services $653,126

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

    total $221,408 · program services $221,408

  • 24c · Other expenses: TIER 3

    total $166,875 · program services $166,875

  • 24d · Other expenses: MEMBER EDUCATION

    total $38,570 · program services $38,570

  • 24e · All other expenses

    total -$32,185 · program services -$32,185

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,404,071 · end of year $820,735

  • 4 · Accounts receivable

    beginning of year $3,345,428 · end of year $4,034,287

  • 8 · Inventories for sale or use

    beginning of year $529,757 · end of year $547,801

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,097,168 · end of year $837,979

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

    $89,259,443

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

    $41,869,826

  • 10c · Land, buildings and equipment, net

    beginning of year $47,759,089 · end of year $47,389,617

  • 12 · Investments: other securities

    beginning of year $10,441,287 · end of year $10,961,455

  • 15 · Other assets

    beginning of year $844,025 · end of year $958,047

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,845,433 · end of year $3,190,314

  • 23 · Secured mortgages and notes payable

    beginning of year $35,707,115 · end of year $34,925,598

  • 25 · Other liabilities

    beginning of year $324,209 · end of year $1,192,994

  • 31 · Retained earnings, endowment or other funds

    beginning of year $25,544,068 · end of year $26,241,015

Mission and programs · 2023

Mission

TO PROVIDE RESIDENTIAL AND COMMERCIAL ELECTRICAL SERVICE TO COOPERATIVE MEMBERS.

  • PROVIDE RESIDENTIAL AND COMMERCIAL ELECTRICAL SERVICE TO COOPERATIVE MEMBERS.

As filed on the 2023 return.

Listed in Part VII

  • Teia Greenslit

    DIR OF FINAN

    Total calculated
    $255,952
    From this org
    $143,444
    From related orgs
    $0
    Other
    $112,508
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $135,684
    Bonus
    not reported
    Other
    $7,760
    Deferred
    $91,495
    Nontaxable benefits
    $21,013
    Filer's total
    $255,952

  • Jason Preston

    MAINTENANCE

    Total calculated
    $222,517
    From this org
    $181,723
    From related orgs
    $0
    Other
    $40,794
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $175,431
    Bonus
    not reported
    Other
    $6,292
    Deferred
    $19,781
    Nontaxable benefits
    $21,013
    Filer's total
    $222,517

  • Dave Kresock

    DIR OF OPER

    Total calculated
    $220,066
    From this org
    $164,624
    From related orgs
    $0
    Other
    $55,442
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $158,055
    Bonus
    not reported
    Other
    $6,569
    Deferred
    $34,429
    Nontaxable benefits
    $21,013
    Filer's total
    $220,066

  • Kevin Lanphear

    LINEWORKER

    Total calculated
    $219,585
    From this org
    $172,451
    From related orgs
    $0
    Other
    $47,134
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $165,862
    Bonus
    not reported
    Other
    $6,589
    Deferred
    $26,121
    Nontaxable benefits
    $21,013
    Filer's total
    $219,585

  • Amos Turner

    CONSTRUCTION

    Total calculated
    $212,958
    From this org
    $172,079
    From related orgs
    $0
    Other
    $40,879
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $164,953
    Bonus
    not reported
    Other
    $7,126
    Deferred
    $19,866
    Nontaxable benefits
    $21,013
    Filer's total
    $212,958

  • Louis Porter

    GENERAL MANA

    Total calculated
    $195,542
    From this org
    $158,323
    From related orgs
    $0
    Other
    $37,219
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $151,996
    Bonus
    not reported
    Other
    $6,327
    Deferred
    $16,206
    Nontaxable benefits
    $21,013
    Filer's total
    $195,542

  • Donald Douglas

    TREASURER

    Total calculated
    $6,500
    From this org
    $6,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Susan Alexander

    DIRECTOR

    Total calculated
    $4,850
    From this org
    $4,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Mary Just Skinner

    SECRETARY

    Total calculated
    $4,850
    From this org
    $4,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Roger Fox

    VICE PRESIDE

    Total calculated
    $4,275
    From this org
    $4,275
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • Steve Farnham

    DIRECTOR

    Total calculated
    $4,270
    From this org
    $4,270
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Steve Knowlton

    PRESIDENT JU

    Total calculated
    $4,130
    From this org
    $4,130
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Elizabeth Allen

    DIRECTOR

    Total calculated
    $4,125
    From this org
    $4,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Jean Hamilton

    DIRECTOR

    Total calculated
    $2,610
    From this org
    $2,610
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.5

  • Richard Rubin

    DIRECTOR

    Total calculated
    $2,175
    From this org
    $2,175
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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 $8,787 · share of assets $450,393

    Directly controlled by WASHINGTON ELECTRIC COOPERATIVE

Provenance

Return type
form_990
Tax year
2023
Filed
14 June 2024
IRS schema version
2023v5.0
Source object
202431779349300713

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