2022-08-01T16:37:45-05:00 2021-12-31 910189318 MOSS ADAMS LLP 805 SW BROADWAY STE 1200 PORTLAND OR 97205 990 2021-01-01 990346113 KAUAI ISLAND UTILITY COOPERATIVE KAUA 8082464300 4463 PAHEE ST STE 1 LIHUE HI 967662000 KARISSA JONAS FINANCIAL VP & CFO 8002468278 2022-08-01 1 KARISSA JONAS XXX-XX-XXXX WENDY CAMPOS P00448102 5032421447 2022-08-01 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z DAVID BISSELL 4463 PAHEE ST STE 1 LIHUE HI 967662000 160510429 0 X WWW.KIUC.COOP X 1999 HI PROVIDE POWER TO OUR MEMBERS IN A CONSERVATIVE AND SUSTAINABLE MANNER. 9 9 145 0 65217 57795 0 0 145146816 158787454 1692563 1350375 -729774 339241 146109605 160477070 80743 86386 7414742 8296852 2689235 2247742 0 0 0 135924885 149846090 146109605 160477070 0 0 370739170 395344357 244222819 261600227 126516351 133744130 X 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. 0 0 GENERATED, TRANSMITTED AND DISTRIBUTED ELECTRICITY TO APPROXIMATELY 38,695 ACTIVE SERVICES AT YEAR END ON THE ISLAND OF KAUAI. 0 0 0 0 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 97 0 1 145 1 1 1 0 0 0 0 158389037 3154196 0 0 0 X 9 9 0 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 0 0 HI X X CORINNE CUARESMA CONTROLLER 8082468212 4463 PAHEE ST STE 1 LIHUE HI 967662000 PETER YUKIMURA TREASURER 20.00 0.00 X X 21092 0 0 TEOFILO TACBIAN DIRECTOR 20.00 1.00 X 19649 0 0 ALLAN SMITH CHAIRMAN 12.00 0.00 X X 19175 0 0 DEE CROWELL DIRECTOR 12.00 2.00 X 17965 0 0 DAVID IHA DIRECTOR 10.00 10.00 X 17259 0 0 JIM MAYFIELD DIRECTOR 12.00 0.00 X 17255 0 0 CALVIN MURASHIGE SECRETARY 11.00 0.00 X X 16056 0 0 JANET KASS DIRECTOR 6.40 0.00 X 15335 0 0 JAN TENBRUGGENCATE VICE CHAIR 15.00 15.00 X X 14144 0 0 DAVID BISSELL CEO 60.00 0.00 X 714261 0 121411 KARISSA JONAS FINANCIAL VP & CFO 50.00 0.00 X 270282 0 122717 BRAD ROCKWELL CHIEF OF OPERATIONS 50.00 0.00 X 290110 0 109994 MAILE ALFILER MEMBER SERVICES MANAGER 50.00 1.00 X 166048 0 184053 JOHN COX T&D MANAGER 45.00 0.00 X 184490 0 83574 PATRICK MALAMA PRIMARY TROUBLEPERSON 40.00 0.00 X 200032 0 126320 TOM YAMAMOTO PRIMARY TROUBLEPERSON 40.00 0.00 X 215107 0 69615 ELIZABETH UBAY HR & SAFETY MANAGER 50.00 0.00 X 209227 0 68434 TRAVIS OTTO PRIMARY TROUBLEPERSON 55.00 0.00 X 191048 0 61186 TIMOTHY BRANTNER PRIMARY TROUBLEPERSON 50.00 0.00 X 194335 0 48325 2792870 0 995629 90 0 1 0 ARCHIPELAGO RESEARCH & CONSERVATION LLC 3861 ULU ALII ST KALAHEO HI 96741 ECOLOGICAL SERVICES 2062049 HALLUX ECOSYSTEM RESTORATION LLC 1544 HALEUKANA ST UNIT 2 LIHUE HI 96766 PREDATOR CONTROL CONSULTANTS 986200 SCHNEIDER TANAKA RADOVICH ANDREW & TANAK MSC 61505 PO BOX 1300 HONOLULU HI 96807 LEGAL SERVICES 876682 MCMILLEN LLC 1401 SHORELINE DR SUITE 100 BOISE ID 83702 ENGINEERING SERVICES 614890 HAWAIIAN ISLAND TECHNOLOGIES LLC 2530 KIPUKA ST KOLOA HI 96756 IT SERVICES 477672 7 COMMERCIAL/INDUSTRIAL 221000 85127144 85127144 RESIDENTIAL 221000 67665717 67665717 SERVICE FEES & OTHER 221000 5133601 5133601 STREET LIGHTING 221000 683855 683855 IRRIGATION 221000 177137 177137 158787454 1350375 1350375 98576 33359 65217 65217 65217 NONOPERATING & OTHER 900099 1358254 1358254 PATRONAGE ALLOCATIONS 900099 235429 235429 NET LOSS FROM SUBS 900099 -1319659 -1319659 274024 160477070 159061478 65217 1350375 86386 8296852 2247742 130222 6569854 15458876 UNRELATED BUSINESS TAX 10883 POWER COST 86635441 ADMINISTRATIVE 17640617 OTHER TAXES 13335892 10064305 160477070 17779425 22533909 10450510 11612390 16334353 19059947 2002488 2670907 589180250 325718579 259646493 263461671 30301164 33496087 34224737 42509446 370739170 395344357 16367022 19695126 215073637 227105703 12782160 14799398 244222819 261600227 X 565 583 0 0 126515786 133743547 126516351 133744130 370739170 395344357 X 0 163209 7064570 X X 0 1 X 1 0 10187175 10187175 50072355 25310740 24761615 517089775 300407839 216681936 11830945 11830945 263461671 INVESTMENTS IN ASSOCIATED ORGS 1922442 C INVESTMENTS IN SUBSIDIARY COMPANIES 25966145 C RURAL ECONOMIC DEVELOPMENT LOANS 607500 C CFC TERM NOTES 5000000 C 33496087 ACCRUED UNBILLED REVENUE 8871471 DEFERRED DEBITS 33423472 POST-RETIREMENT BENEFIT ASSET 214503 42509446 DEFERRED CREDITS 11288619 CUSTOMER DEPOSITS 1367898 OTHER LIABILITIES 1516527 ENERGY RATE ADJUSTMENTS 626354 14799398 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE, EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME, IF ANY. THE COOPERATIVE ADOPTED FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10, RELATING TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2021 AND 2020, THE COOPERATIVE DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. THE COOPERATIVE FILES AN EXEMPT ORGANIZATION AND UNRELATED BUSINESS INCOME TAX RETURN IN THE U.S. FEDERAL JURISDICTION AND THE CORPORATE SUBSIDIARIES FILE A CORPORATE RETURN IN THE U.S. FEDERAL AND STATE OF HAWAII JURISDICTIONS. THE COOPERATIVE IS NOT EXEMPT UNDER HAWAII REVISED STATUTES FROM STATE INCOME TAXES; HOWEVER, MARGINS THAT ARE ALLOCATED WITHIN A SPECIFIC TIME PERIOD ARE CONSIDERED A DEDUCTION FOR STATE INCOME TAX PURPOSES. FOR THE STATE OF HAWAII, THE COOPERATIVE IS ALSO ASSESSED A 5.885% OF GROSS REVENUES PUBLIC SERVICE COMPANY TAX IN LIEU OF GENERAL EXCISE TAXES AND COUNTY REAL PROPERTY TAXES. ALSO, THE COOPERATIVE IS ASSESSED A 0.5% OF GROSS REVENUES PUBLIC UTILITY COMMISSION FEE. FOR THE COUNTY OF KAUA'I, HAWAII, THE COOPERATIVE IS ASSESSED A 2.5% FRANCHISE FEE ON GROSS REVENUES. 1 KAUAI UNITED WAY PO BOX 1087 LIHUE HI 96766 990146288 501(C)(3) 22740 0 CHARITABLE GIVING KIUC CHARITABLE FOUNDATION 4463 PAHEE ST STE 1 LIHUE HI 967662000 510592268 501(C)(3) 38646 0 RELATED EXEMPT OPERATIONS 2 0 PART I, LINE 2: KAUAI UNITED WAY IS A NON-PROFIT, VOLUNTEER-DRIVEN ORGANIZATION, DEDICATED TO SERVING THE SOCIAL NEEDS OF KAUAI SINCE 1943. PARTICIPATING AGENCIES ARE MONITORED THROUGHOUT THE YEAR TO MAKE SURE THAT PROGRAMS CONTINUE TO BE ADMINISTERED EFFICIENTLY AND WITHIN GUIDELINES. THE COOPERATIVE RELIES ON THE DONEE ORGANIZATIONS TO USE THE FUNDS AS INTENDED BY THE COOPERATIVE. X X X X 0 1 0 DAVID BISSELL CEO 550028 0 0 0 164233 0 100850 0 20561 0 835672 0 0 0 BRAD ROCKWELL CHIEF OF OPERATIONS 224975 0 63745 0 1390 0 85974 0 24020 0 400104 0 0 0 KARISSA JONAS FINANCIAL VP & CFO 268982 0 0 0 1300 0 98639 0 24078 0 392999 0 0 0 MAILE ALFILER MEMBER SERVICES MANAGER 139419 0 25987 0 642 0 160033 0 24020 0 350101 0 0 0 PATRICK MALAMA PRIMARY TROUBLEPERSON 199103 0 0 0 929 0 106939 0 19381 0 326352 0 0 0 TOM YAMAMOTO PRIMARY TROUBLEPERSON 214176 0 0 0 931 0 45595 0 24020 0 284722 0 0 0 ELIZABETH UBAY HR & SAFETY MANAGER 175390 0 32537 0 1300 0 63633 0 4801 0 277661 0 0 0 JOHN COX T&D MANAGER 155188 0 27824 0 1478 0 59496 0 24078 0 268064 0 0 0 TRAVIS OTTO PRIMARY TROUBLEPERSON 190548 0 0 0 500 0 36608 0 24578 0 252234 0 0 0 TIMOTHY BRANTNER PRIMARY TROUBLEPERSON 194139 0 0 0 196 0 23505 0 24820 0 242660 0 0 0 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. DAVID BISSELL: AMOUNT PAID - $135,236 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 - $90,990 ACTUAL EXPENSE - $76,734 KARISSA JONAS: REPORTED CHANGE - $88,779 ACTUAL EXPENSE - $70,406 BRAD ROCKWELL: REPORTED CHANGE - $76,833 ACTUAL EXPENSE - $58,573 JOHN COX: REPORTED CHANGE - $53,147 ACTUAL EXPENSE - $40,688 MAILE ALFILER: REPORTED CHANGE - $154,314 ACTUAL EXPENSE - $60,534 TOM YAMAMOTO: REPORTED CHANGE - $36,887 ACTUAL EXPENSE - $24,640 ELIZABETH UBAY: REPORTED CHANGE - $56,474 ACTUAL EXPENSE - $46,608 PATRICK MALAMA: REPORTED CHANGE - $98,789 ACTUAL EXPENSE - $62,270 TIMOTHY BRANTNER: REPORTED CHANGE - $15,566 ACTUAL EXPENSE - $24,640 TRAVIS OTTO: REPORTED CHANGE - $28,824 ACTUAL EXPENSE - $24,640 FORM 990, PART VI, SECTION A, LINE 6 KIUC HAS APPROXIMATELY 26,506 MEMBERS. THE MEMBERSHIP FEE IS $.01 PER MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EACH DIRECTOR IS ELECTED TO A 3-YEAR TERM. THE 9 DIRECTOR'S TERMS ARE STAGGERED SUCH THAT EACH YEAR 3 DIRECTOR SEATS ARE UP FOR ELECTION. EACH CURRENT MEMBER IS ENTITLED TO CAST A BALLOT AND VOTE FOR 3 DIRECTORS TO FILL THE 3 VACANT SEATS, REGARDLESS OF THEIR BILLING AMOUNT. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE DOES NOT HAVE COMMITTEES WITH BOARD AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B 1) AFTER THE COMPLETED FORM 990 IS RECEIVED FROM THE TAX PREPARER, THE CONTROLLER WILL PERFORM A DETAILED REVIEW OF THE FORM 990, INCLUDING VERIFYING THE FIGURES TO THE BOOKS OF RECORD. 2) THE CFO WILL PERFORM A MORE GENERAL REVIEW OF THE FORM 990 FOR REASONABLENESS. 3) THE FORM 990 WILL BE MADE AVAILABLE TO THE BOARD OF DIRECTORS FOR THEIR INDIVIDUAL REVIEW. IF THE DIRECTORS HAVE ANY QUESTIONS ABOUT THE FORM 990, THE CFO WILL MEET WITH THEM TO ANSWER THEIR QUESTIONS. 4) THE FORM 990 WILL BE FILED WITH THE IRS FOLLOWING THIS PROCESS. FORM 990, PART VI, SECTION B, LINE 12C ANY DIRECTOR, OFFICER OR MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS WHO HAS A DIRECT OR INDIRECT FINANCIAL INTEREST IS COVERED BY THIS POLICY. 1) THE BOARD OF DIRECTORS DETERMINES WHETHER A CONFLICT EXISTS. 2) THE BOARD OF DIRECTORS REVIEWS ACTUAL CONFLICTS. 3) ANY PERSON COVERED BY THIS POLICY WHO IS DEEMED TO HAVE A CONFLICT OF INTEREST IS PROHIBITED FROM PARTICIPATING IN THE BOARD'S DELIBERATIONS AND DECISION IN THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15A ALL NON-BARGAINING UNIT [NBU] EMPLOYEES' SALARIES ARE DETERMINED IN ACCORDANCE WITH NRECA'S COMPENSATE SALARY PLAN. IN ADDITION, THE BOARD CONSULTS WITH NRECA COMPENSATION CONSULTANTS REGARDING THE CEO'S COMPENSATION. THIS PROCESS IS UNDERTAKEN ANNUALLY. FORM 990, PART VI, SECTION C, LINE 18 THE ORGANIZATION MAKES ITS 990 AVAILABLE TO THE PUBLIC ON ITS WEBSITE AND UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS BYLAWS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON THEIR WEBSITE AND UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN OTHER EQUITY 64,157. CHANGE IN MEMBERSHIPS 18. PATRONAGE NET MARGIN 8,296,852. RETIREMENT OF CAPITAL CREDITS -1,296,457. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN PROCEDURE FROM THE PRIOR YEAR. KIUC CHARITABLE FOUNDATION 4463 PAHEE ST STE 1 LIHUE HI 967662000 510592268 FOUNDATION HI 501(C)(3) LINE 7 KAUAI ISLAND UTILITY COOPERATIVE 1 KIUC RENEWABLE SOLUTIONS TWO LLC 4463 PAHEE ST STE 1 LIHUE HI 967662000 461502179 SOLAR POWER GENERATION DE N/A N/A 0 0 KIUC RENEWABLE SOLUTIONS ONE LLC 4463 PAHEE ST STE 1 LIHUE HI 967662000 453822840 SOLAR POWER GENERATION DE KAUAI ISLAND UTILITY COOPERATIVE C 915534 29561027 1.00000 1 KIUC RENEWABLE SOLUTIONS TWO HOLDINGS LLC 4463 PAHEE ST STE 1 LIHUE HI 967662000 463410355 HOLDING COMPANY FOR SOLAR POWER GENERATION DE KAUAI ISLAND UTILITY COOPERATIVE C 1063869 -1382601 1.00000 1 1 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 1 1 1 KIUC RENEWABLE SOLUTIONS ONE LLC A 858002 CASH KIUC RENEWABLE SOLUTIONS ONE LLC H 2786737 CASH KIUC RENEWABLE SOLUTIONS ONE LLC Q 255168 CASH KIUC RENEWABLE SOLUTIONS ONE LLC R 150000 CASH KIUC RENEWABLE SOLUTIONS ONE LLC S 1013554 CASH KIUC RENEWABLE SOLUTIONS TWO LLC D 13463463 CASH KIUC RENEWABLE SOLUTIONS TWO LLC H 2508545 CASH KIUC RENEWABLE SOLUTIONS TWO LLC Q 154006 CASH