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Nonprofiteer
← ORCAS POWER & LIGHT COOPERATIVE

Form 990 for tax year 2023

Filed by ORCAS POWER & LIGHT COOPERATIVE.

Totals

Total revenue
$39,416,329
Total expenses
$37,571,378
Contributions and grants received
$71,291
Grants paid
$10,000
Program service revenue
$36,507,728
Investment income
$686,893
Other revenue
$2,150,417
Total assets, end of year
$131,163,828
Total liabilities, end of year
$79,853,661
Net assets or fund balances, end of year
$51,310,167
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)

    $71,291

  • 2a · Program service revenue: ELECTRIC ENERGY SALES

    total $36,448,697 · related or exempt $36,448,697

  • 2b · Program service revenue: POLE RENTAL INCOME

    total $59,031 · excluded $59,031

  • 3 · Investment income

    total $686,626 · excluded $686,626

  • 6a · Gross rents

    real property $110,040

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $110,040

  • 6d · Net rental income or loss

    total $110,040 · excluded $110,040

  • 7a · Gross sales of assets other than inventory

    other assets $267

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

    other assets $0

  • 7c · Gain or loss

    other assets $267

  • 7d · Net gain or loss

    total $267 · excluded $267

  • 11a · Other revenue: UNAPPROPROPRIATED SUB EARNINGS

    total $1,844,951 · related or exempt $1,844,951

  • 11b · Other revenue: PATRONAGE CAPITAL CREDITS

    total $107,198 · related or exempt $107,198

  • 11c · Other revenue: OTHER INCOME

    total $88,228 · related or exempt $88,228

  • 11e · Other revenue, total

    $2,040,377

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $10,000

  • 4 · Benefits paid to or for members

    total $5,625,570

  • 5 · Compensation of officers, directors and key employees

    total $1,250,067

  • 8 · Pension plan contributions

    total $1,913,191

  • 11d · Fees: lobbying

    total $120,000

  • 20 · Interest

    total $1,906,039

  • 22 · Depreciation, depletion and amortization

    total $5,396,359

  • 24a · Other expenses: COST OF PURCHASED POWER

    total $8,571,913

  • 24b · Other expenses: DISTRIBUTION EXPENSES

    total $3,796,463

  • 24c · Other expenses: MAINTENANCE EXPENSES

    total $3,214,269

  • 24d · Other expenses: TAXES

    total $1,610,154

  • 24e · All other expenses

    total $4,157,353

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,319,169 · end of year $3,449,876

  • 2 · Savings and temporary cash investments

    beginning of year $8,369,111 · end of year $6,652,832

  • 4 · Accounts receivable

    beginning of year $6,240,612 · end of year $6,247,535

  • 8 · Inventories for sale or use

    beginning of year $3,766,502 · end of year $4,544,853

  • 9 · Prepaid expenses and deferred charges

    beginning of year $733,741 · end of year $750,805

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

    $178,607,825

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

    $70,933,774

  • 10c · Land, buildings and equipment, net

    beginning of year $101,507,356 · end of year $107,674,051

  • 12 · Investments: other securities

    beginning of year $1,551,416 · end of year $1,651,628

  • 13 · Investments: program-related

    beginning of year -$11,173,486 · end of year -$9,331,007

  • 14 · Intangible assets

    beginning of year $39,609 · end of year $33,949

  • 15 · Other assets

    beginning of year $4,556,746 · end of year $9,489,306

  • 17 · Accounts payable and accrued expenses

    beginning of year $3,357,567 · end of year $4,260,468

  • 23 · Secured mortgages and notes payable

    beginning of year $69,182,615 · end of year $75,105,409

  • 25 · Other liabilities

    beginning of year $380,720 · end of year $487,784

  • 29 · Capital stock, trust principal or current funds

    beginning of year $58,380 · end of year $58,555

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

    beginning of year $10,997,394 · end of year $12,188,062

  • 31 · Retained earnings, endowment or other funds

    beginning of year $33,934,100 · end of year $39,063,550

Mission and programs · 2023

Mission

THE COOPERATIVE SERVES ITS MEMBERS WITH SAFE, RELIABLE, COST EFFECTIVE, AND ENVIRONMENTALLY SENSITIVE UTILITY SERVICES.

  • SALE OF ELECTRICAL SERVICE TO MEMBERS WHICH INCLUDES AN ENERGY CONSERVATION PROGRAM.

As filed on the 2023 return.

Listed in Part VII

  • Richard Christmas

    DIRECTOR (THRU 5/23)

    Total calculated
    $10,164
    From this org
    $10,164
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Vincent Dauciunas

    BOARD PRESIDENT

    Total calculated
    $29,884
    From this org
    $29,884
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Mark Madsen

    DIRECTOR

    Total calculated
    $18,751
    From this org
    $18,751
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Chukwuma Onwuneme

    DIRECTOR

    Total calculated
    $225
    From this org
    $225
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Thomas Osterman

    DIRECTOR

    Total calculated
    $31,561
    From this org
    $31,561
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Brian Silverstein

    BOARD SECRETARY

    Total calculated
    $5,213
    From this org
    $5,213
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jeffrey Struthers

    DIRECTOR

    Total calculated
    $5,213
    From this org
    $5,213
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Oliver Whitfield

    BOARD VP

    Total calculated
    $7,702
    From this org
    $7,702
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • J Foster Hildreth

    GENERAL MANAGER

    Total calculated
    $684,355
    From this org
    $369,516
    From related orgs
    $76,416
    Other
    $238,423
    Hours/week
    35 + 5 related

    Schedule J breakdown matched by us

    Base
    $348,479
    Bonus
    $15,083 + $76,416 related
    Other
    $5,954
    Deferred
    $197,952
    Nontaxable benefits
    $40,471
    Filer's total
    $607,939 + $76,416 related

  • Nancy Loomis

    MANAGER OF FINANCE & MEMBER SERVICES

    Total calculated
    $323,981
    From this org
    $207,346
    From related orgs
    $0
    Other
    $116,635
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $184,897
    Bonus
    $19,580
    Other
    $2,869
    Deferred
    $84,514
    Nontaxable benefits
    $32,121
    Filer's total
    $323,981

  • Russell Guerry

    MANAGER OF ENGINEERING & OPERATIONS

    Total calculated
    $297,701
    From this org
    $218,144
    From related orgs
    $0
    Other
    $79,557
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,446
    Bonus
    $20,043
    Other
    $7,655
    Deferred
    $40,076
    Nontaxable benefits
    $39,481
    Filer's total
    $297,701

  • Curtis Olson

    JOURNEYMAN/LINEMAN

    Total calculated
    $257,586
    From this org
    $194,502
    From related orgs
    $0
    Other
    $63,084
    Hours/week
    55.9

    Schedule J breakdown matched by us

    Base
    $119,039
    Bonus
    $9,746
    Other
    $65,717
    Deferred
    $39,669
    Nontaxable benefits
    $23,415
    Filer's total
    $257,586

  • Dan Watters

    FOREMAN

    Total calculated
    $245,996
    From this org
    $191,959
    From related orgs
    $0
    Other
    $54,037
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $128,310
    Bonus
    $10,720
    Other
    $52,929
    Deferred
    $30,185
    Nontaxable benefits
    $23,852
    Filer's total
    $245,996

  • Sean Parsons

    SUBSTATION MAINTENANCE TECHNICIAN

    Total calculated
    $252,159
    From this org
    $200,417
    From related orgs
    $0
    Other
    $51,742
    Hours/week
    56.5

    Schedule J breakdown matched by us

    Base
    $123,801
    Bonus
    $10,233
    Other
    $66,383
    Deferred
    $27,904
    Nontaxable benefits
    $23,838
    Filer's total
    $252,159

  • Luke Furber

    FOREMAN

    Total calculated
    $260,155
    From this org
    $203,138
    From related orgs
    $0
    Other
    $57,017
    Hours/week
    54.7

    Schedule J breakdown matched by us

    Base
    $128,481
    Bonus
    $10,720
    Other
    $63,937
    Deferred
    $33,552
    Nontaxable benefits
    $23,465
    Filer's total
    $260,155

  • Jordan Ross

    JOURNEYMAN/LINEMAN

    Total calculated
    $230,956
    From this org
    $187,284
    From related orgs
    $0
    Other
    $43,672
    Hours/week
    56.1

    Schedule J breakdown matched by us

    Base
    $117,656
    Bonus
    $9,746
    Other
    $59,882
    Deferred
    $19,912
    Nontaxable benefits
    $23,760
    Filer's total
    $230,956

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 4B
J. FOSTER HILDRETH, GENERAL MANAGER, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT CONTRIBUTED IN 2023 WAS $20,500.

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

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.

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 $1,844,951 · share of assets $24,571,489 · controlled entity

    Directly controlled by ORCAS POWER & LIGHT COOPERATIVE

Provenance

Return type
form_990
Tax year
2023
Filed
12 November 2024
IRS schema version
2023v5.1
Source object
202423179349305257

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