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Nonprofiteer
← KAUAI ISLAND UTILITY COOPERATIVE

Form 990 for tax year 2022

Filed by KAUAI ISLAND UTILITY COOPERATIVE.

Totals

Total revenue
$175,641,835
Total expenses
$175,641,835
Contributions and grants received
$0
Grants paid
$88,334
Program service revenue
$174,807,926
Investment income
$1,508,770
Other revenue
-$674,861
Total assets, end of year
$423,743,821
Total liabilities, end of year
$288,966,994
Net assets or fund balances, end of year
$134,776,827
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: COMMERCIAL/INDUSTRIAL

    total $98,190,497 · related or exempt $98,190,497

  • 2b · Program service revenue: RESIDENTIAL

    total $75,465,976 · related or exempt $75,465,976

  • 2c · Program service revenue: IRRIGATION

    total $718,357 · related or exempt $718,357

  • 2d · Program service revenue: STREET LIGHTING

    total $692,840 · related or exempt $692,840

  • 2e · Program service revenue: SERVICE FEES & OTHER

    total -$259,744 · related or exempt -$259,744

  • 3 · Investment income

    total $1,508,770 · excluded $1,508,770

  • 6a · Gross rents

    real property $98,576

  • 6b · Less rental expenses

    real property $32,810

  • 6c · Rental income or loss

    real property $65,766

  • 6d · Net rental income or loss

    total $65,766 · unrelated business $65,766

  • 11a · Other revenue: PATRONAGE ALLOCATIONS

    total $196,261 · related or exempt $196,261

  • 11b · Other revenue: NONOPERATING

    total $3,816 · related or exempt $3,816

  • 11c · Other revenue: NET LOSS FROM SUBS

    total -$940,704 · related or exempt -$940,704

  • 11e · Other revenue, total

    -$740,627

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $88,334

  • 4 · Benefits paid to or for members

    total $3,172,759

  • 5 · Compensation of officers, directors and key employees

    total $2,742,063

  • 11d · Fees: lobbying

    total $114,665

  • 20 · Interest

    total $6,780,697

  • 22 · Depreciation, depletion and amortization

    total $15,662,092

  • 24a · Other expenses: POWER COST

    total $103,918,936

  • 24b · Other expenses: UNRELATED BUSINESS TAX

    total $14,154

  • 24c · Other expenses: ADMINISTRATIVE

    total $18,778,422

  • 24d · Other expenses: OTHER TAXES

    total $14,704,580

  • 24e · All other expenses

    total $9,665,133

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $22,533,909 · end of year $44,402,512

  • 4 · Accounts receivable

    beginning of year $11,612,390 · end of year $12,573,543

  • 8 · Inventories for sale or use

    beginning of year $19,059,947 · end of year $22,484,856

  • 9 · Prepaid expenses and deferred charges

    beginning of year $2,670,907 · end of year $1,309,242

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

    $608,360,062

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

    $335,406,265

  • 10c · Land, buildings and equipment, net

    beginning of year $263,461,671 · end of year $272,953,797

  • 12 · Investments: other securities

    beginning of year $33,496,087 · end of year $27,107,244

  • 15 · Other assets

    beginning of year $42,509,446 · end of year $42,912,627

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,695,126 · end of year $19,362,392

  • 23 · Secured mortgages and notes payable

    beginning of year $227,105,703 · end of year $242,842,267

  • 25 · Other liabilities

    beginning of year $14,799,398 · end of year $26,762,335

  • 29 · Capital stock, trust principal or current funds

    beginning of year $583 · end of year $598

  • 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 $133,743,547 · end of year $134,776,229

Mission and programs · 2022

Mission

SEE SCHEDULE OTO PROVIDE RELIABLE POWER SAFELY THAT IS FAIRLY AND COMPETITIVELY PRICED, PRACTICE CONSERVATION AND EFFICIENT USE OF ENERGY RESOURCES AND INCREASE SUSTAINABLE POWER SUPPLY AND ENVIRONMENTAL STEWARDSHIP WHILE IMPROVING THE QUALITY OF LIFE FOR MEMBERS AND KAUA'I.

Activities or mission (Part I)

PROVIDE POWER TO OUR MEMBERS IN A CONSERVATIVE AND SUSTAINABLE MANNER.

  • GENERATED, TRANSMITTED AND DISTRIBUTED ELECTRICITY TO APPROXIMATELY 38,898 ACTIVE SERVICES AT YEAR END ON THE ISLAND OF KAUAI.

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • ALLAN SMITH

    CHAIRMAN

    Total calculated
    $18,867
    From this org
    $18,867
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • CALVIN MURASHIGE

    SECRETARY

    Total calculated
    $14,135
    From this org
    $14,135
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • DAVID IHA

    DIRECTOR

    Total calculated
    $11,149
    From this org
    $11,149
    From related orgs
    $0
    Other
    $0
    Hours/week
    5 + 5 related

  • DEE CROWELL

    DIRECTOR

    Total calculated
    $14,865
    From this org
    $14,865
    From related orgs
    $0
    Other
    $0
    Hours/week
    12 + 12 related

  • JAN TENBRUGGENCATE

    VICE CHAIR

    Total calculated
    $14,107
    From this org
    $14,107
    From related orgs
    $0
    Other
    $0
    Hours/week
    10 + 1 related

  • JANET KASS

    DIRECTOR

    Total calculated
    $11,870
    From this org
    $11,870
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.6

  • JIM MAYFIELD

    DIRECTOR

    Total calculated
    $16,104
    From this org
    $16,104
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • PETER YUKIMURA

    TREASURER

    Total calculated
    $20,079
    From this org
    $20,079
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • TEOFILO TACBIAN

    DIRECTOR

    Total calculated
    $18,082
    From this org
    $18,082
    From related orgs
    $0
    Other
    $0
    Hours/week
    20 + 1 related

  • DAVID BISSELL

    CEO

    Total calculated
    $985,138
    From this org
    $850,542
    From related orgs
    $0
    Other
    $134,596
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $576,927
    Bonus
    $100,000
    Other
    $173,615
    Deferred
    $113,235
    Nontaxable benefits
    $21,361
    Filer's total
    $985,138

  • KARISSA JONAS

    FINANCIAL VP & CFO

    Total calculated
    $306,416
    From this org
    $202,505
    From related orgs
    $0
    Other
    $103,911
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $201,545
    Bonus
    $0
    Other
    $960
    Deferred
    $85,422
    Nontaxable benefits
    $18,489
    Filer's total
    $306,416

  • STACIE DELLAMANO

    FINANCIAL VP & CFO

    Total calculated
    $164,446
    From this org
    $135,568
    From related orgs
    $0
    Other
    $28,878
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $85,326
    Bonus
    $50,000
    Other
    $242
    Deferred
    $20,661
    Nontaxable benefits
    $8,217
    Filer's total
    $164,446

  • BETH AMARO

    MEMBER SERVICES & COMMUNICATIONS

    Total calculated
    $282,862
    From this org
    $205,788
    From related orgs
    $0
    Other
    $77,074
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $171,294
    Bonus
    $32,567
    Other
    $1,927
    Deferred
    $57,367
    Nontaxable benefits
    $19,707
    Filer's total
    $282,862

  • BRAD ROCKWELL

    CHIEF OF OPERATIONS

    Total calculated
    $408,921
    From this org
    $286,406
    From related orgs
    $0
    Other
    $122,515
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $237,879
    Bonus
    $46,974
    Other
    $1,553
    Deferred
    $97,921
    Nontaxable benefits
    $24,594
    Filer's total
    $408,921

  • CAMERON KRUSE

    ENGINEERING MANAGER

    Total calculated
    $245,381
    From this org
    $185,240
    From related orgs
    $0
    Other
    $60,141
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $153,696
    Bonus
    $30,591
    Other
    $953
    Deferred
    $39,125
    Nontaxable benefits
    $21,016
    Filer's total
    $245,381

  • JOHN COX

    T&D MANAGER

    Total calculated
    $295,824
    From this org
    $203,366
    From related orgs
    $0
    Other
    $92,458
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $168,890
    Bonus
    $32,630
    Other
    $1,846
    Deferred
    $67,806
    Nontaxable benefits
    $24,652
    Filer's total
    $295,824

  • ELIZABETH UBAY

    HR & SAFETY MANAGER

    Total calculated
    $292,180
    From this org
    $221,742
    From related orgs
    $0
    Other
    $70,438
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $183,635
    Bonus
    $36,793
    Other
    $1,314
    Deferred
    $66,153
    Nontaxable benefits
    $4,285
    Filer's total
    $292,180

  • PATRICK MALAMA

    PRIMARY TROUBLEPERSON

    Total calculated
    $269,405
    From this org
    $189,987
    From related orgs
    $0
    Other
    $79,418
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $188,212
    Bonus
    $0
    Other
    $1,775
    Deferred
    $68,492
    Nontaxable benefits
    $10,926
    Filer's total
    $269,405

  • RICHARD VETTER

    PORT ALLEN STATION MANAGER

    Total calculated
    $288,936
    From this org
    $198,869
    From related orgs
    $0
    Other
    $90,067
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $171,068
    Bonus
    $25,817
    Other
    $1,984
    Deferred
    $65,415
    Nontaxable benefits
    $24,652
    Filer's total
    $288,936

  • TIMOTHY BRANTNER

    PRIMARY TROUBLEPERSON

    Total calculated
    $237,591
    From this org
    $186,425
    From related orgs
    $0
    Other
    $51,166
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $186,196
    Bonus
    $0
    Other
    $229
    Deferred
    $25,572
    Nontaxable benefits
    $25,594
    Filer's total
    $237,591

  • TOM YAMAMOTO

    PRIMARY TROUBLEPERSON

    Total calculated
    $268,363
    From this org
    $195,320
    From related orgs
    $0
    Other
    $73,043
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $193,942
    Bonus
    $0
    Other
    $1,378
    Deferred
    $48,449
    Nontaxable benefits
    $24,594
    Filer's total
    $268,363

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 · 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
KIUC ADOPTED A SUPPLEMENTAL EXECUTIVE BENEFIT RESTORATION ("EBR") PLAN, EFFECTIVE JANUARY 1, 2015. THE EBR PLAN IS A NON-QUALIFIED PLAN MAINTAINED BY KIUC. BENEFITS UNDER THE EBR PLAN ARE BASED ON THE DIFFERENCE BETWEEN AMOUNTS WITHOUT INTERNAL REVENUE SERVICE (IRS) QUALIFIED PENSION PLAN LIMITS ON COMPENSATION AND BENEFITS AND THOSE WITH SUCH LIMITS AS DETERMINED UNDER THE PROVISION OF THE NRECA RS PLAN. THERE IS A RISK OF FORFEITURE IF PARTICIPANTS LEAVE THE COMPANY PRIOR TO BECOMING FULLY VESTED IN THE EBR PLAN. EBR PAYMENTS FOR DAVID BISSELL: $143,670
PART II, COLUMN C:
INCLUDED IN COLUMN C IS THE CHANGE IN ACTUARIAL VALUE FOR THE DEFINED BENEFIT PLAN RATHER THAN THE ACTUAL EXPENSE OF THE COOPERATIVE FOR THIS PLAN, AS FOLLOWS: DAVID BISSELL: REPORTED CHANGE - $102,865 ACTUAL EXPENSE - $81,618 STACIE DELLAMANO REPORTED CHANGE - $17,200 ACTUAL EXPENSE - $16,725 KARISSA JONAS: REPORTED CHANGE - $77,615 ACTUAL EXPENSE - $55,005 BRAD ROCKWELL: REPORTED CHANGE - $88,261 ACTUAL EXPENSE - $62,792 JOHN COX: REPORTED CHANGE - $60,904 ACTUAL EXPENSE - $43,618 BETH AMARO REPORTED CHANGE - $50,409 ACTUAL EXPENSE - $43,534 CAMERON KRUSE REPORTED CHANGE - $32,852 ACTUAL EXPENSE - $40,631 ELIZABETH UBAY REPORTED CHANGE - $58,684 ACTUAL EXPENSE - $48,551 RICHARD VETTER REPORTED CHANGE - $58,427 ACTUAL EXPENSE - $45,423 TOM YAMAMOTO: REPORTED CHANGE - $40,547 ACTUAL EXPENSE - $25,880 PATRICK MALAMA: REPORTED CHANGE - $60,827 ACTUAL EXPENSE - $52,918 TIMOTHY BRANTNER: REPORTED CHANGE - $17,939 ACTUAL EXPENSE - $25,880

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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • KIUC RENEWABLE SOLUTIONS ONE LLC

    C · SOLAR POWER GENERATION · DE · 100% owned · share of income $1,367,639 · share of assets $30,500,989 · controlled entity

    Directly controlled by KAUAI ISLAND UTILITY COOPERATIVE

  • KIUC RENEWABLE SOLUTIONS TWO HOLDINGS LLC

    C · HOLDING COMPANY FOR SOLAR POWER GENERATION · DE · 100% owned · share of income $1,286,844 · share of assets -$1,484,311 · controlled entity

    Directly controlled by KAUAI ISLAND UTILITY COOPERATIVE

Provenance

Return type
form_990
Tax year
2022
Filed
1 September 2023
IRS schema version
2022v5.0
Source object
202312449349300436

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