PENINSULA LIGHT COMPANY INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- PENINSULA LIGHT COMPANY INC (EIN 91-0361270)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-11-15
- IRS object ID
- 202413209349312896
- Schema version
- 2023v5.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-11-15T12:42:16-06:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 750882037 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | BOLINGER SEGARS GILBERT AND MOSS LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 8215 NASHVILLE AVENUE | AddressLine1Txt |
| City | LUBBOCK | CityNm |
| State Abbreviation | TX | StateAbbreviationCd |
| ZIP | 79423 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 910361270 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PENINSULA LIGHT COMPANY | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | PENI | BusinessNameControlTxt |
| Phone | 2538575950 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 13315 GOODNOUGH DR NW | AddressLine1Txt |
| City | GIG HARBOR | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98332 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | JAFAR TAGHAVI | PersonNm |
| Person Title | CEO | PersonTitleTxt |
| Phone | 2538575950 | PhoneNum |
| Signature | 2024-11-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | 0 | IRSResponsiblePrtyInfoCurrInd |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | WILLIAM M MILLER | PreparerPersonNm |
| PTIN | P00439459 | PTIN |
| Phone | 8067473806 | PhoneNum |
| Preparation | 2024-11-14 | PreparationDt |
| Self Employed | Yes (X) | SelfEmployedInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2024-10-15 13:58:12Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | JAFAR TAGHAVI | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 13315 GOODNOUGH DR NW | AddressLine1Txt |
| City | GIG HARBOR | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98332 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $66,213,493 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.PENLIGHT.ORG | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1925 | FormationYr |
| Legal Domicile State | WA | LegalDomicileStateCd |
| Activity Or Mission | TO PROVIDE ELECTRICITY AND WATER TO MEMBERS AND OPERATING THE COMPANY IN A MANNER CONSISTENT WITH THE PURPOSE OF THE MUTUAL CORPORATION. | ActivityOrMissionDesc |
| Voting Members Governing Body | 9 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 9 | VotingMembersIndependentCnt |
| Total Employee | 89 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $64,920,598 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $63,293,574 | CYProgramServiceRevenueAmt |
| PY Investment Income | $280,685 | PYInvestmentIncomeAmt |
| CY Investment Income | $2,337,432 | CYInvestmentIncomeAmt |
| PY Other Revenue | $933,452 | PYOtherRevenueAmt |
| CY Other Revenue | $554,121 | CYOtherRevenueAmt |
| PY Total Revenue | $66,134,735 | PYTotalRevenueAmt |
| CY Total Revenue | $66,185,127 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $8,280,323 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $9,951,451 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $52,014,614 | PYOtherExpensesAmt |
| CY Other Expenses | $48,947,155 | CYOtherExpensesAmt |
| PY Total Expenses | $60,294,937 | PYTotalExpensesAmt |
| CY Total Expenses | $58,898,606 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $5,839,798 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $7,286,521 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $209,146,749 | TotalAssetsBOYAmt |
| Total Assets EOY | $211,233,014 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $38,889,309 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $34,750,753 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $170,257,440 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $176,482,261 | NetAssetsOrFundBalancesEOYAmt |
| 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 PURPOSE OF THE MUTUAL CORPORATION. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS ON A MUTUAL BASIS. THERE WERE 33,300 ACTIVE ELECTRIC SERVICES AT YEAR END. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SALE AND DISTRIBUTION OF WATER TO MEMBERS ON A MUTUAL BASIS. THERE WERE 3,200 ACTIVE WATER SERVICES AT YEAR END. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | Yes (1) | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | Yes (1) | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 30 | IRPDocumentCnt |
| IRP Document W2 G | 89 | IRPDocumentW2GCnt |
| Employee | 89 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Members And Shr Gross Income | $64,107,034 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $2,508,159 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 9 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 9 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | 0 | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | DANA HANCOCK CBO | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2538575950 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 13315 GOODNOUGH DR NW | AddressLine1Txt |
| City | GIG HARBOR | CityNm |
| State Abbreviation | WA | StateAbbreviationCd |
| ZIP | 98332 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (17 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|
| SCOTT JUNGE | ||||||||
| PRESIDENT | 6.00 | Yes (X) | Yes (X) | $36,750 | $0 | $0 | ||
| L PAUL ALVESTAD | ||||||||
| DIRECTOR | 20.00 | Yes (X) | $36,500 | $0 | $0 | |||
| SIGNO UDDENBERG | ||||||||
| DIRECTOR | 6.00 | Yes (X) | $36,050 | $0 | $0 | |||
| DEBRA ROSS | ||||||||
| VICE PRESIDENT | 6.00 | Yes (X) | Yes (X) | $35,500 | $0 | $0 | ||
| ERIN GATHERUM | ||||||||
| DIRECTOR | 4.61 | Yes (X) | $31,450 | $0 | $0 | |||
| MARC JORGENSON | ||||||||
| TREASURER | 6.00 | Yes (X) | Yes (X) | $31,250 | $0 | $0 | ||
| JIM SMALLEY | ||||||||
| SECRETARY | 5.00 | Yes (X) | Yes (X) | $31,050 | $0 | $0 | ||
| NICK MARKOVICH | ||||||||
| DIRECTOR | 5.00 | Yes (X) | $30,550 | $0 | $0 | |||
| ROGER SPADONI | ||||||||
| DIRECTOR | 6.50 | Yes (X) | $27,800 | $0 | $0 | |||
| JAFAR TAGHAVI | ||||||||
| CEO | 40.00 | Yes (X) | $757,803 | $0 | $51,720 | |||
| DANA HANCOCK | ||||||||
| CBO | 40.00 | Yes (X) | $180,569 | $0 | $99,585 | |||
| AMY GRICE | ||||||||
| COO | 40.00 | $188,761 | $0 | $70,490 | Yes (X) | |||
| ANDY SORENSEN | ||||||||
| WORKING FOREMAN | 40.00 | $260,538 | $0 | $49,601 | Yes (X) | |||
| RICKY SCHROEDER | ||||||||
| WIRE FOREMAN | 40.00 | $195,887 | $0 | $108,592 | Yes (X) | |||
| BRIAN WAHTO | ||||||||
| JOURNEYMAN LINEMAN | 40.00 | $229,258 | $0 | $69,438 | Yes (X) | |||
| JASON EDLUND | ||||||||
| JOURNEYMAN LINEMAN | 40.00 | $209,411 | $0 | $46,654 | Yes (X) | |||
| RICHARD HART | ||||||||
| JOURNEYMAN LINEMAN | 40.00 | $192,621 | $0 | $24,950 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,511,748 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $521,030 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 38 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| EQUIPMENT EXPERTS INC | |||||
| 2704 104TH ST CT S BLDG K | LAKEWOOD | WA | 98499 | FLEET MAINTENANCE | $1,350,917 |
| ASPLUNDH TREE EXPERT CO | |||||
| 708 BLAIR MILL ROAD | WILLOW GROVE | PA | 19090 | TREE TRIMMING/VEGETATION MANAGEMENT | $971,486 |
| PRAECE CONSULTING | |||||
| 25 16TH ST NE STE B | AUBURN | WA | 98002 | ENGINEERING CONSULTING SERVICES | $701,632 |
| GREENFIELD SERVICES | |||||
| PO BOX 73097 | PUYALLUP | WA | 98375 | VACCUM TRUCK SERVICES | $517,966 |
| RCE TRAFFIC CONTROL INC | |||||
| 2525 SE SEDGWICK RD | PORT ORCHARD | WA | 98366 | FLAGGING SERVICES | $462,092 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 16 | CntrctRcvdGreaterThan100KCnt |
| Info In Schedule O Part VIII | Yes (X) | InfoInScheduleOPartVIIIInd |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| SALES OF ELECTRICITY | 221000 | $60,992,957 | $60,992,957 |
| WATER SALES | 221000 | $1,655,154 | $1,655,154 |
| SERVICE FEES | 221000 | $403,817 | $403,817 |
| PATRONAGE DIVIDENDS | 221000 | $146,779 | $146,779 |
| OTHER PROGRAM REVENUE | 221000 | $94,867 | $94,867 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $63,293,574 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,177,374 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $1,507,000 | RelatedOrExemptFuncIncomeAmt |
| Exclusion | $670,374 | ExclusionAmt |
Gross Rents GrossRentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $28,800 | RealAmt |
Less Rental Expenses LessRentalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $28,800 | RealAmt |
Net Rental Income Or Loss NetRentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $28,800 | TotalRevenueColumnAmt |
| Exclusion | $28,800 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $188,424 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $28,366 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $160,058 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $160,058 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $160,058 | RelatedOrExemptFuncIncomeAmt |
Other Revenue Misc OtherRevenueMiscGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|---|
| POLE ATTACHEMENT INCOME | 221000 | $512,111 | $512,111 | |
| MISC NON-OPERATING REVENUE | 221000 | $13,210 | $13,210 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $525,321 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $66,185,127 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $64,973,842 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $1,211,285 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part IX | Yes (X) | InfoInScheduleOPartIXInd |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,645,828 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,584,358 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,207,563 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $973,103 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $540,599 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,431,911 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $8,626,540 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| PURCHASED POWER | $23,913,986 |
| DISTRIBUTION EXPENSE | $6,645,818 |
| OPERATING TAXES | $3,224,250 |
| ADMIN & GENERAL EXPENSE | $3,154,787 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,949,863 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $58,898,606 | TotalAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part X | Yes (X) | InfoInScheduleOPartXInd |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,351,487 | BOYAmt |
| EOY | $390,942 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $10,291,885 | BOYAmt |
| EOY | $10,566,881 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,878,985 | BOYAmt |
| EOY | $8,786,807 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,709,698 | BOYAmt |
| EOY | $3,159,227 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $766,657 | BOYAmt |
| EOY | $778,853 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $235,738,589 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $101,775,389 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $129,702,810 | BOYAmt |
| EOY | $133,963,200 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $49,774,964 | BOYAmt |
| EOY | $49,735,890 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $4,670,263 | BOYAmt |
| EOY | $3,851,214 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $209,146,749 | BOYAmt |
| EOY | $211,233,014 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,791,075 | BOYAmt |
| EOY | $5,224,732 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $32,098,234 | BOYAmt |
| EOY | $28,974,618 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $0 | BOYAmt |
| EOY | $551,403 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $38,889,309 | BOYAmt |
| EOY | $34,750,753 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,262,750 | BOYAmt |
| EOY | $3,258,200 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,035,062 | BOYAmt |
| EOY | $1,040,812 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $165,959,628 | BOYAmt |
| EOY | $172,183,249 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $170,257,440 | BOYAmt |
| EOY | $176,482,261 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $209,146,749 | BOYAmt |
| EOY | $211,233,014 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $7,286,521 | ReconcilationRevenueExpnssAmt |
| Other Changes In Net Assets | -$1,061,700 | OtherChangesInNetAssetsAmt |
| Info In Schedule O Part XII | Yes (X) | InfoInScheduleOPartXIIInd |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $3,973,173 | OtherCostOrOtherBasisAmt |
| Book Value | $3,973,173 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $7,509,476 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,604,089 | DepreciationAmt |
| Book Value | $1,905,387 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $212,709,444 | OtherCostOrOtherBasisAmt |
| Depreciation | $96,171,300 | DepreciationAmt |
| Book Value | $116,538,144 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $11,546,496 | OtherCostOrOtherBasisAmt |
| Book Value | $11,546,496 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $133,963,200 | TotalBookValueLandBuildingsAmt |
Invst Program Related Org InvstProgramRelatedOrgGrp (8 entries)
| DescDesc | Book ValueBookValueAmt | Method ValuationMethodValuationCd |
|---|---|---|
| PATRONAGE CAPITAL - CFC | $1,668,386 | C |
| PATRONAGE CAPITAL - NISC | $6,944 | C |
| PATRONAGE CAPITAL - NRTC | $1,415 | C |
| PATRONAGE CAPITAL - FEDERATED | $319,606 | C |
| CAPITAL TERM CERTIFICATES - CFC | $1,176,828 | C |
| HARVEST WIND PROJECT - EQUITY INTEREST | $15,269,516 | C |
| OTHER INVESTMENTS | $69,364 | C |
| INVESTMENT IN PLC ENERGY | $31,223,831 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Program Rltd | $49,735,890 | TotalBookValueProgramRltdAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (3 entries)
| DescDesc | AmtAmt |
|---|---|
| CUSTOMER SECURITY DEPOSITS | $114,185 |
| ACCURED OPERATING TAXES | $424,058 |
| OTHER LIABILITIES | $13,160 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $551,403 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | PLC IS EXEMPT UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE FROM FEDERAL INCOME TAX. ACCORDINGLY, NO PROVISION FOR INCOME TAX IS REQUIRED. THE COMPANY HAS ADOPTED THE UNCERTAIN TAX POSITIONS PROVISIONS OF ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED SATES OF AMERICA. THE PRIMARY TAX POSITION OF THE COMPANY IS ITS FILING STATUS AS A TAX EXEMPT ENTITY. THE COMPANY DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT THEIR TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BY THE INTERNAL REVENUE SERVICE (IRS), OR OTHER STATE TAXING AUTHORITY AND THAT ALL TAX BENEFITS ARE LIKELY TO BE REALIZED UPON SETTLEMENT WITH TAXING AUTHORITIES. |
| PART IX: | THE AMOUNT OF OTHER ASSETS ON FORM 990, PAGE 11, PART X, LINE 15 DOES NOT EQUAL OR EXCEED 5% OF THE TOTAL ASSETS ON FORM 990, PAGE 11, PART X, LINE 16, COLUMN B. CONSEQUENTLY, IN ACCORDANCE WITH IRS INSTRUCTIONS, SCHEDULE D, PART IX HAS BEEN LEFT BLANK. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | Yes (1) | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (8 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JAFAR TAGHAVI | ||||||||||||||
| CEO | $415,255 | $0 | $332,171 | $0 | $10,377 | $0 | $13,200 | $0 | $38,520 | $0 | $809,523 | $0 | $230,600 | $0 |
| ANDY SORENSEN | ||||||||||||||
| WORKING FOREMAN | $260,280 | $0 | $0 | $0 | $258 | $0 | $46,021 | $0 | $3,580 | $0 | $310,139 | $0 | $0 | $0 |
| RICKY SCHROEDER | ||||||||||||||
| WIRE FOREMAN | $195,046 | $0 | $0 | $0 | $841 | $0 | $104,690 | $0 | $3,902 | $0 | $304,479 | $0 | $0 | $0 |
| BRIAN WAHTO | ||||||||||||||
| JOURNEYMAN LINEMAN | $228,551 | $0 | $0 | $0 | $707 | $0 | $35,656 | $0 | $33,782 | $0 | $298,696 | $0 | $0 | $0 |
| DANA HANCOCK | ||||||||||||||
| CBO | $179,368 | $0 | $0 | $0 | $1,201 | $0 | $65,644 | $0 | $33,941 | $0 | $280,154 | $0 | $0 | $0 |
| AMY GRICE | ||||||||||||||
| COO | $188,761 | $0 | $0 | $0 | $0 | $0 | $33,313 | $0 | $37,177 | $0 | $259,251 | $0 | $0 | $0 |
| JASON EDLUND | ||||||||||||||
| JOURNEYMAN LINEMAN | $209,411 | $0 | $0 | $0 | $0 | $0 | $12,777 | $0 | $33,877 | $0 | $256,065 | $0 | $0 | $0 |
| RICHARD HART | ||||||||||||||
| JOURNEYMAN LINEMAN | $192,621 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $24,950 | $0 | $217,571 | $0 | $0 | $0 |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 4B | MR. JAFAR TAGHAVI PARTICIPATES IN A SECTION 457(F) NON-QUALIFIED DEFERRED COMPENSATION PLAN. AMOUNTS ACCRUED, VESTED, AND PAID PURSUANT TO THE NQDC PLAN DURING THE YEAR WERE $332,171. ALL SUCH AMOUNTS WERE INCLUDED IN REPORTABLE COMPENSATION AND COVER THE 2020 THROUGH 2023 PLAN YEARS. |
| PART II, COLUMN C: | INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. JAFAR TAGHAVI: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ -0- EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,200 TOTAL REPORTED IN COLUMN C $ 13,200 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (-0-) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,200 EXPENSE TO THE COOPERATIVE $ 13,200 ANDY SORENSEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,011 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,010 TOTAL REPORTED IN COLUMN C $ 46,021 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (42,011) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 52,248 EXPENSE TO THE COOPERATIVE $ 56,258 RICKY SCHROEDER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 100,474 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,216 TOTAL REPORTED IN COLUMN C $ 104,690 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (100,474) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 53,181 EXPENSE TO THE COOPERATIVE $ 57,397 BRIAN WAHTO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 32,058 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,598 TOTAL REPORTED IN COLUMN C $ 35,656 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (32,058) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,579 EXPENSE TO THE COOPERATIVE $ 29,177 DANA HANCOCK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 58,429 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,215 TOTAL REPORTED IN COLUMN C $ 65,644 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (58,429) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 51,597 EXPENSE TO THE COOPERATIVE $ 58,812 AMY GRICE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 25,742 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,571 TOTAL REPORTED IN COLUMN C $ 250,661 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (25,742) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 44,024 EXPENSE TO THE COOPERATIVE $ 51,595 JASON EDLUND: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,416 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,361 TOTAL REPORTED IN COLUMN C $ 12,777 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,416) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,045 EXPENSE TO THE COOPERATIVE $ 27,406 RICHARD HART: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ -0- EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ -0- LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (-0-) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN -0- EXPENSE TO THE COOPERATIVE $ -0- |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (19 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART I, LINES 15 & 17: | BASED ON THE UNIFORM SYSTEM OF ACCOUNTS UTILIZED BY THE COOPERATIVE, LABOR AND BENEFITS ARE GENERALLY SPREAD AMONG DIFFERENT FUNCTIONAL EXPENSE CATEGORIES. BECAUSE OF THIS ACCOUNTING SYSTEM, THE COOPERATIVE ONLY RECLASSIFIED LABOR AND BENEFITS ASSOCIATED WITH OFFICERS AND KEY EMPLOYEES. HOWEVER, BEGINNING WITH THE CURRENT YEAR, THE COOPERATIVE BEGAN RECLASSIFING ALL LABOR AND BENEFITS THAT ARE EXPENSED IN THE FINANCIAL STATEMENTS. FOR COMPARABILITY PURPOSES, THE COOPERATIVE RECLASSIFIED $5,351,520 OF LABOR AND BENEFITS FROM PART I, LINE 17 TO PART I, LINE 15 FOR THE PRIOR YEAR. |
| FORM 990, PART VI, SECTION A, LINE 6 | THE COOPERATIVE WAS FORMED BY THE MEMBERS TO PROVIDE ELECTRIC AND WATER DISTRIBUTION SERVICES ON A MUTUAL BASIS. |
| FORM 990, PART VI, SECTION A, LINE 7A | THE MEMBERS OF THE COMPANY VOTE ON THE BOARD OF DIRECTORS. ELECTIONS ARE DONE ON A ONE MEMBER ONE VOTE BASIS. |
| FORM 990, PART VI, SECTION A, LINE 7B | IN ADDITION TO DIRECTOR ELECTIONS, THE FOLLOWING ACTS REQUIRE APPROVAL OF THE MEMBERS OF THE COOPERATIVE: 1. DISSOLUTION/LIQUIDATION OF THE COOPERATIVE 2. MERGER OR CONSOLIDATION OF THE COOPERATIVE WITH ANOTHER ORGANIZATION 3. DISPOSAL OF A SUBSTANTIAL PORTION OF THE COOPERATIVE'S ASSETS 4. AMENDMENT TO THE ARTICLES OF INCORPORATION |
| FORM 990, PART VI, SECTION A, LINE 8B | THE COOPERATIVE HAS NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. THEREFORE, AND PURSUANT TO FORM 990 INSTRUCTIONS, THE QUESTION HAS BEEN ANSWERED "NO". |
| FORM 990, PART VI, SECTION B, LINE 11B | MANAGEMENT PROVIDED A COPY OF THE FORM 990 TO THE BOARD FOR DISCUSSION AND REVIEW PRIOR TO FILING. |
| FORM 990, PART VI, SECTION B, LINE 12C | HUMAN RESOURCES MONITORS AND ADMINISTERS THE POLICY. SPECIFICALLY, THE BOARD OF DIRECTORS AND OFFICERS ARE REQUIRED TO REVIEW AND BE FAMILIAR WITH THE POLICIES OUTLINED IN THE COMPANY'S CONFLICT OF INTEREST POLICY, AND ARE REQUIRED TO DISCLOSE ANY ACTION OR SITUATION THAT MIGHT VIOLATE THE POLICY TO THE FULL BOARD AS SOON AS POSSIBLE. |
| FORM 990, PART VI, SECTION B, LINE 15 | CEO - AN INDEPENDENT CONSULTANT WAS HIRED TO CONDUCT A MARKET SALARY STUDY FOR THE CEO POSITION. THE CONSULTANT REPORTS DIRECTLY TO THE PRESIDENT OF THE BOARD AND THE CHAIRMAN OF THE BOARD COMPENSATION COMMITTEE. THE CEO HAS NO CONTACT OR INTERACTION WITH THE CONSULTANT OR THE BOARD REGARDING THIS PROJECT. THE CONSULTANT REPORTS FINDINGS TO THE ENTIRE BOARD OF DIRECTORS. A QUESTION AND ANSWER SESSION FOLLOWS WHERE THE CONSULTANT ANSWERS SPECIFIC QUESTIONS FROM THE BOARD ABOUT THE COMPARABILITY OF DATE PRESENTED. THE DIRECTORS DELIBERATE BEFORE REACHING THEIR DECISION AS TO COMPENSATION LEVEL FOR THE CEO. THE CHAIRMAN OF BOARD COMPENSATION COMMITTEE INFORMS THE HUMAN RESOURCES DIRECTOR OF ANY COMPENSATION CHANGE AND APPLICABLE EFFECTIVE DATE FOR THE CEO. IN A SEPARATE MEETING WITH THE PRESIDENT OF THE BOARD AND THE CHAIRMAN OF THE BOARD COMPENSATION COMMITTEE, THE CEO IS INFORMED OF ANY CHANGE IN COMPENSATION. OTHER OFFICERS - AN INDEPENDENT CONSULTANT WAS ALSO HIRED TO CONDUCT A MARKET SURVEY AND ESTABLISH A MARKET SALARY FOR FOR ALL EXEMPT MANAGEMENT POSITIONS. THE CONSULTANT REPORTS FINDINGS TO THE HR DIRECTOR. THEY DISCUSS THE DATA COMPARABLES AND SUBSTANTIATION BEHIND IT. THE HR DIRECTOR PRESENTS THIS INFORMATION TO THE CEO. WITH TRAINING PROVIDED BY THE CONSULTANT, AN INTERNAL EQUITY COMPENSATION COMMITTEE, COMPRISED OF A MANAGER FROM EACH DIVISION OF THE COMPANY, PROVIDES INDEPENDENT RECOMMENDATIONS FOR EACH POSITION PLACEMENT WITHIN THE SALARY SCHEDULE. THE CEO AND HR DIRECTOR DISCUSS THE FINAL RECOMMENDATIONS OF THE COMPENSATION COMMITTEE AND ESTABLISH ACTUAL SALARIES PAYABLE BASED ON THE FINANCIAL WHEREWITHAL OF THE COMPANY. |
| FORM 990, PART VI, SECTION C, LINE 19 | THESE DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST AT THE COMPANY'S MAIN OFFICER. IN ADDITION, THE COOPERATIVE PROVIDES A TREASURER'S REPORT INCLUDING A FINANCIAL SUMMARY AT THE ANNUAL MEETING. |
| FORM 990, PART VII, COLUMN F: | IN ORDER TO PROVIDE RETIREMENT BENEFITS TO ITS EMPLOYEES, THE COOPERATIVE HAS ESTABLISHED A DEFINED CONTRIBUTION PLAN UNDER SECTION 401(K) OF THE INTERNAL REVENUE CODE. EMPLOYER CONTRIBUTIONS TO THE PLAN ARE MADE PURSUANT TO THE PLAN DOCUMENT. ADDITIONALLY, THE COOPERATIVE PARTICIPATES IN A MULTI-EMPLOYER DEFINED BENEFIT PLAN. CONTRIBUTIONS TO THIS PLAN ARE BASED ON THE FULL FUNDING LIMITATION OF SUCH PLAN. EMPLOYER CONTRIBUTIONS FOR BOTH PLANS ARE AVAILABLE TO PARTICIPATING EMPLOYEES, INCLUDING OFFICERS AND HIGHLY COMPENSATED EMPLOYEES, MEETING THE ELIGIBILITY REQUIREMENTS OF SUCH PLANS. THE COOPERATIVE ALSO PROVIDES HEALTH AND LIFE INSURANCE TO ALL EMPLOYEES THROUGH A QUALIFIED PLAN. THE AMOUNTS REPORTED ON PART VII, COLUMN (F) FOR THE OFFICERS AND HIGHLY COMPENSATED EMPLOYEES ARE COMPRISED OF ACTUARIAL INCREASE IN THE DEFINED BENEFIT PLAN, THE TOTAL AMOUNT CONTRIBUTED BY THE COOPERATIVE TO THE DEFINED CONTRIBUTION PLAN AND THE INSURANCE PREMIUMS PAID FOR THEIR BENEFIT. |
| FORM 990, PART VIII, LINE 2: | PATRONAGE DIVIDENDS RESULT FROM THE PAYMENT OF INTEREST FROM COOPERATIVE BANKS AND THE PURCHASE OF SUPPLIES AND SERVICES FROM OTHER COOPERATIVE ORGANIZATIONS. THE EXPENSES ASSOCIATED WITH PURCHASES FROM AND PAYMENTS TO SUCH COOPERATIVE ORGANIZATIONS ARE A DIRECT COMPONENT OF COST OF THE ELECTRIC SERVICE PROVIDED BY THE COOPERATIVE TO ITS MEMBERS. |
| FORM 990, PART IX, LINES 5-7: | SALARIES AND WAGES ARE ALLOCATED TO ASSET, LIABILITY, AND EXPENSE ACCOUNTS BASED ON THE ACCOUNTING SYSTEM DESCRIBED ABOVE. THE FOLLOWING SCHEDULE RECONCILES AMOUNTS REPORTED ON LINES 5-7 TO TOTAL WAGES ACCRUED AND/OR PAID: TOTAL PER LINES 5-7 $ 7,230,186 LESS: DIRECTOR FEES REPORTED ON FORMS 1099-NEC (296,900) LESS: EMPLOYEE OFFICER BENEFITS INCLUDED IN LINE 5 (221,795) PLUS: SALARIES & WAGES ALLOCATED TO PURCHASED POWER 327,651 PLUS: SALARIES & WAGES CAPITALIZED DIRECTLY TO PLANT 1,505,664 PLUS: SALARIES & WAGES CAPITALIZED/EXPENSED INDIRECTLY THROUGH CLEARING & OTHER ACCOUNTS 1,750,912 TOTAL WAGES ACCRUED AND/OR PAID $10,295,718 |
| FORM 990, PART IX, LINE 24: | ADMINISTRATIVE AND GENERAL EXPENSE IS COMPRISED OF THE FOLLOWING: ADMINISTRATIVE & GENERAL SALARIES, BENEFITS & OTHER $ 2,850,876 OFFICE SUPPLIES 285,908 OUTSIDE SERVICES EMPLOYED 290,987 INSURANCE & DAMAGES 233,405 COMMUNITY SERVICE 105,430 UTILITIES 44,641 MISCELLANEOUS GENERAL 223,857 DIRECTORS 656,521 TRAININGS & MEETINGS 134,495 DUES TO ASSOCIATED ORGANIZATIONS 273,843 MAINTENANCE OF GENERAL PLANT 1,213,931 ADVERTISING 23,367 TOTAL ADMIN & GENERAL EXP PER FINANCIAL STATEMENTS $ 6,337,261 LESS: RECLASS OF TRUSTEE FEES TO PART IX, LINE 5 (296,900) LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (2,005,946) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (879,628) TOTAL ADMIN & GENERAL EXPENSE PER FORM 990, PART IX $ 3,154,787 |
| FORM 990, PART IX: | ALTHOUGH THE COOPERATIVE IS NO LONGER A RURAL UTILITY SERVICES (RUS) BORROWER, THE ACCOUNTING RECORDS OF THE COOPERATIVE ARE MAINTAINED IN ACCORDANCE WITH THE RUS UNIFORM SYSTEM OF ACCOUNTS (USOA) AS PRESCRIBED FOR RUS ELECTRIC BORROWERS. THE USOA DOES NOT RECORD EXPENSES IN THE GENERAL EXPENSE CATEGORIES PROVIDED ON PART IX LINES 1-23. THE COOPERATIVE SEPARATELY REPORTS SALARIES AND WAGES, EMPLOYEE BENEFITS AND PAYROLL TAXES THAT ARE ALLOCATED IN ACCORDANCE WITH ITS ACCOUNTING SYSTEM, BUT OTHER EXPENSES THAT ARE DESCRIBED IN LINES 1-23 ARE REPORTED ON LINE 24 UNDER THE EXPENSE CATEGORIES REQUIRED BY THE USOA. |
| FORM 990, PART IX, LINE 24E: | OTHER EXPENSES IS COMPRISED OF THE FOLLOWING: WATER DEPARTMENT OPERATIONS $ 770,840 CONSUMER ACCOUNTS & SERVICE EXPENSE 3,359,214 MISCELLANEOUS NON-OPERATING SALES EXPENSE 103,560 TOTAL OTHER EXPENSE BEFORE RECLASSIFICATIONS $ 4,233,614 LESS: RECLASS OF LABOR TO PART IX, LINES 5 & 7 (1,587,581) LESS: RECLASS OF BENEFITS TO PART IX, LINES 8-10 (696,170) TOTAL OTHER EXPENSE PER FORM 990, PART IX $ 1,949,863 |
| FORM 990, PART IX, LINES 12 & 13: | THE COOPERATIVE PREVIOUSLY INCLUDED INVESTMENTS IN ASSOCIATED ORGANIZATIONS AND WIND GENERATION, WHICH ARE PROGRAM RELATED, AS A COMPONENT OF "INVESTMENTS - OTHER SECURITIES" ON LINE 12 OF PART X. HOWEVER, FOR THE 2023 CALENDAR YEAR, THE COOPERATIVE BEGAN REPORTING THESE AMOUNTS AS "INVESTMENTS - PROGRAM RELATED" ON LINE 13. TO INCREASE CONSISTENCY, PROGRAM RELATED INVESTMENTS IN THE AMOUNT OF $49,774,964 FOR THE 2022 CALENDAR YEAR HAVE BEEN RECLASSED FROM LINE 12 TO LINE 13. |
| FORM 990, PART IX, LINES 29 & 30: | THE COOPERATIVE PREVIOUSLY INCLUDED MEMBERSHIP FEES AND MEMBER CAPITAL CONTRIBUTIONS RECEIVED ON LINE 30 OF PART X AS "PAID IN CAPITAL". HOWEVER, FOR THE 2023 CALENDAR YEAR, THE COOPERATIVE BEGAN REPORTING THESE AMOUNTS AS "CAPITAL STOCK" DUE TO THE NATURE OF THE MEMBERSHIP FEES ON LINE 29. TO INCREASE CONSISTENCY, MEMBERSHIP FEES IN THE AMOUNT OF $3,262,750 FOR THE 2022 CALENDAR YEAR HAVE BEEN RECLASSED FROM LINE 30 TO LINE 29. |
| FORM 990, PART XI, LINE 9: | BOOK-TAX ADJUSTMENT: EQUITY METHOD INCOME FROM SUBSIDIARY 444,100. NET CHANGE IN MEMBERSHIPS 1,200. BOOK-TAX ADJUSTMENT: DIVIDENDS RECEIVED FROM EQUITY METHOD INVESTMENT -1,507,000. |
| FORM 990, PART XII, LINE 2C: | THE BOARD OF DIRECTORS HAVE ASSIGNED MEMBERS TO AN AUDIT COMMITTEE TO OVERSEE THE FINANCIAL STATEMENT AUDIT AND SELECT THE INDEPENDENT FINANCIAL STATEMENT AUDITOR. PROCEDURAL CHANGES DID NOT OCCUR DURING THE YEAR. |
Schedule R IRS990ScheduleR
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp (2 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Entity TypeEntityTypeTxt | Share Of Total IncomeShareOfTotalIncomeAmt | Share Of EOY AssetsShareOfEOYAssetsAmt | OwnershipOwnershipPct | Controlled OrganizationControlledOrganizationInd | Direct Controlling NADirectControllingNACd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PLC ENERGY INC | |||||||||||||
| 13315 GOODNOUGH DR NW | GIG HARBOR | WA | 98332 | 911943365 | WHOLESALE ENERGY | WA | PENINSULA LIGHT COMPANY | C | -$585,656 | $2,941,993 | 1.00000 | Yes (1) | |
| HARVEST WIND PROJECT | |||||||||||||
| PO BOX 3007 | LONGVIEW | WA | 98632 | 264679797 | WIND FARM | WA | C | $3,171,600 | $17,792,200 | 0.20000 | 0 | N/A | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | Yes (1) | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | Yes (1) | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | Yes (1) | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | Yes (1) | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Transactions Related Org TransactionsRelatedOrgGrp (4 entries)
| Transaction TypeTransactionTypeTxt | InvolvedInvolvedAmt | Method Of Amount DeterminationMethodOfAmountDeterminationTxt |
|---|---|---|
| PLC ENERGY INC | ||
| B | $972,529 | INVOICES & OTHER SUPPORT |
| PLC ENERGY INC | ||
| O | $191,757 | INVOICES & OTHER SUPPORT |
| HARVEST WIND PROJECT | ||
| F | $1,507,000 | AMOUNTS RECEIVED |
| HARVEST WIND PROJECT | ||
| P | $3,078,454 | INVOICES & OTHER SUPPORT |