Totals
- Total revenue
- $66,134,735
- Total expenses
- $60,294,937
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $64,920,598
- Investment income
- $280,685
- Other revenue
- $933,452
- Total assets, end of year
- $209,146,749
- Total liabilities, end of year
- $38,889,309
- Net assets or fund balances, end of year
- $170,257,440
- 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: ELECTRICITY
total $62,422,627 · related or exempt $62,422,627
-
2b · Program service revenue: WATER
total $1,593,223 · related or exempt $1,593,223
-
2c · Program service revenue: HOOKUP/DISCONNECT/ENGINEERING
total $339,531 · related or exempt $339,531
-
2d · Program service revenue: MEMBER SERVICE INC
total $410,885 · related or exempt $410,885
-
2e · Program service revenue: BPA REIMBURSEMENT
total $153,512 · related or exempt $153,512
-
2f · All other program service revenue
total $820 · related or exempt $820
-
3 · Investment income
total $241,134 · excluded $241,134
-
4 · Income from investment of tax-exempt bond proceeds
total $0
-
5 · Royalties
total $0
-
6a · Gross rents
real property $28,850 · personal property $506,226
-
6b · Less rental expenses
real property $17,124
-
6c · Rental income or loss
real property $11,726 · personal property $506,226
-
6d · Net rental income or loss
total $517,952 · related or exempt $11,726 · excluded $506,226
-
7a · Gross sales of assets other than inventory
other assets $39,551
-
7b · Less cost or other basis and sales expenses
other assets $0
-
7c · Gain or loss
other assets $39,551
-
7d · Net gain or loss
total $39,551 · related or exempt $39,551
-
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
-
11a · Other revenue: INCOME FROM EQUITY METHOD INV
total $415,500 · related or exempt $415,500
-
11e · Other revenue, total
$415,500
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 $1,196,191
-
6 · Compensation of disqualified persons
total $0
-
7 · Other salaries and wages
total $1,732,612
-
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 $0
-
12 · Advertising and promotion
total $30,689
-
13 · Office expenses
total $171,030
-
14 · Information technology
total $61,164
-
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 $117,827
-
20 · Interest
total $1,567,435
-
21 · Payments to affiliates
total $0
-
22 · Depreciation, depletion and amortization
total $8,358,181
-
23 · Insurance
total $213,623
-
24a · Other expenses: POWER EXPENSE
total $27,672,754
-
24b · Other expenses: MAINTENANCE
total $5,041,717
-
24c · Other expenses: CUSTOMER ACCOUNTS
total $3,108,275
-
24d · Other expenses: DISTRIBUTION
total $5,831,248
-
24e · All other expenses
total $5,192,191
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $9,732,889 · end of year $2,351,487
-
2 · Savings and temporary cash investments
beginning of year $274,246 · end of year $10,291,885
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $8,977,077 · end of year $8,878,985
-
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 $2,508,432 · end of year $2,709,698
-
9 · Prepaid expenses and deferred charges
beginning of year $748,155 · end of year $766,657
-
10a · Land, buildings and equipment: cost or other basis
$225,636,227
-
10b · Land, buildings and equipment: accumulated depreciation
$95,933,417
-
10c · Land, buildings and equipment, net
beginning of year $129,296,170 · end of year $129,702,810
-
11 · Investments: publicly traded securities
beginning of year $0 · end of year $0
-
12 · Investments: other securities
beginning of year $49,485,482 · end of year $49,774,964
-
13 · Investments: program-related
beginning of year $0 · end of year $0
-
14 · Intangible assets
beginning of year $0 · end of year $0
-
15 · Other assets
beginning of year $5,389,593 · end of year $4,670,263
-
17 · Accounts payable and accrued expenses
beginning of year $6,461,312 · end of year $6,791,075
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $489,677 · 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 $35,064,950 · end of year $32,098,234
-
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 $4,274,012 · end of year $4,297,812
-
31 · Retained earnings, endowment or other funds
beginning of year $160,122,093 · end of year $165,959,628
Mission and programs · 2022
Mission
ALL ACTIVITIES ARE THE RESULT OF PROVIDING ELECTRICITY AND WATER TO MEMBERS AND OPERATING THE COMPANY IN A FISCALLY RESPONSIBLE MANNER CONSISTENT WITH THE PURPOSES OF THE MUTUAL CORPORATION.
Activities or mission (Part I)
ALL ACTIVITIES ARE THE RESULT OF PROVIDING ELECTRICITY AND WATER TO MEMBERS AND OPERATING THE COMPANY IN A FISCALLY RESPONSIBLE MANNER (continued on Schedule O)
-
DISTRIBUTION OF ELECTRICITY AND WATER TO MEMBER'S PROPERTY. CURRENTLY SERVES APPROXIMATELY 32,640 MEMBERS.
As filed on the 2022 return.
Listed in Part VII
-
Taghavi Jafar
Chief Executive Officer
- Total calculated
- $701,999
- From this org
- $518,848
- From related orgs
- $0
- Other
- $183,151
- Hours/week
- 6
Schedule J breakdown matched by us
- Base
- $450,280
- Bonus
- not reported
- Other
- $68,568
- Deferred
- $96,976
- Nontaxable benefits
- $12,200
- Filer's total
- $628,024
-
Sorensen Andy
Working Foreman
- Total calculated
- $265,513
- From this org
- $210,822
- From related orgs
- $0
- Other
- $54,691
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $204,343
- Bonus
- not reported
- Other
- $6,479
- Deferred
- $51,340
- Nontaxable benefits
- $5,866
- Filer's total
- $268,028
-
Crosby Brian
Journeyman Lineman
- Total calculated
- $246,259
- From this org
- $175,800
- From related orgs
- $0
- Other
- $70,459
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $171,544
- Bonus
- not reported
- Other
- $4,256
- Deferred
- $45,393
- Nontaxable benefits
- $25,066
- Filer's total
- $246,259
-
Hancock Dana
Chief Business Officer
- Total calculated
- $241,842
- From this org
- $145,943
- From related orgs
- $0
- Other
- $95,899
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $137,845
- Bonus
- not reported
- Other
- $8,098
- Deferred
- $59,547
- Nontaxable benefits
- $36,352
- Filer's total
- $241,842
-
Edlund Jason
Apprentice Lineman
- Total calculated
- $229,510
- From this org
- $194,959
- From related orgs
- $0
- Other
- $34,551
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $191,543
- Bonus
- not reported
- Other
- $3,416
- Deferred
- $9,610
- Nontaxable benefits
- $24,941
- Filer's total
- $229,510
-
Robson Cory
Journeyman Lineman
- Total calculated
- $211,233
- From this org
- $178,948
- From related orgs
- $0
- Other
- $32,285
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $175,080
- Bonus
- not reported
- Other
- $3,868
- Deferred
- $7,091
- Nontaxable benefits
- $25,194
- Filer's total
- $211,233
-
Redmond Ryan
Chief Resources Officer
- Total calculated
- $207,635
- From this org
- $172,677
- From related orgs
- $0
- Other
- $34,958
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $162,675
- Bonus
- not reported
- Other
- $10,002
- Deferred
- $8,813
- Nontaxable benefits
- $26,145
- Filer's total
- $207,635
-
Junge Scott
President & Director
- Total calculated
- $31,350
- From this org
- $31,350
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Smalley James
Secretary & Director
- Total calculated
- $29,350
- From this org
- $29,350
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Uddenberg Signo
Board of Director
- Total calculated
- $29,350
- From this org
- $29,350
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Alvestad L Paul
Board of Director
- Total calculated
- $29,050
- From this org
- $29,050
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Jorgenson Marc
Treasurer & Director
- Total calculated
- $28,300
- From this org
- $28,300
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Ross Debra
Vice President & Director
- Total calculated
- $27,050
- From this org
- $27,050
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Markovich Nick
Board of Director
- Total calculated
- $25,250
- From this org
- $25,250
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Spadoni Roger M
Board of Director
- Total calculated
- $24,500
- From this org
- $24,500
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Gatherum Erin
Board of Director
- Total calculated
- $18,400
- From this org
- $18,400
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
-
Nordfors Spence
Board of Director
- Total calculated
- $9,750
- From this org
- $9,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 6
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 · Independent compensation consultant
- 3 · Written employment contract
- 3 · Compensation survey or study
- 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.
-
PLC Energy Inc
C Corp · wholesale pow · WA · 100% owned · share of income -$881,000 · share of assets $2,951,000 · controlled entity
Directly controlled by Peninsula Light
-
harvest wind project (tenants in common)
C Corp · wind farm · WA · 20% owned · share of income $439,400 · share of assets $18,846,400
Directly controlled by na
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 13 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202323179349312002
Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.
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