2022-11-15T14:19:31-06:00 2021-12-31 BDO USA LLP 601 Union Street Suite 2300 Seattle WA 98101 990 2021-01-01 910361270 Peninsula Light Company % CEO & CBO PENI 2538575950 13315 Goodnough Dr NW Gig Harbor WA 98332 JAFAR TAGHAVI CEO 2538575950 2022-11-15 true JAFAR TAGHAVI 999009999 Christopher Ebert P00707090 2063827777 2022-11-15 2021 2022-09-23 18:48:47Z JAFAR TAGHAVI 13315 Goodnough Dr NW Gig Harbor WA 98332 64272047 false X WWW.PENLIGHT.ORG X 1925 WA 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) 9 9 89 0 0 0 62334559 62754673 411906 342367 1199101 1144014 63945566 64241054 0 0 0 0 3292803 3761935 0 0 0 55671065 53468979 58963868 57230914 4981698 7010140 203553467 206412044 45072795 42015939 158480672 164396105 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. false false DISTRIBUTION OF ELECTRICITY AND WATER TO MEMBER'S PROPERTY. CURRENTLY SERVES APPROXIMATELY 32,660 MEMBERS. false false false false false false false false false true true false false false true false true false false false false false false false false false false false true false false false false false false false false false false false true true false false true 24 0 true 89 true false false false false false 65207737 1009071 false false false X 9 9 false false false false true true true true false false false true true true true true true true false true false X CEO CBO 2538575950 13315 GOODNOUGH DR NW GIG HARBOR WA 98332 X Taghavi Jafar Chief Executive Officer 40.0 0.0 X 483653 0 178263 Simpson Michael Chief Operating Officer 40.0 0.0 X 176206 0 90865 Robson Cory Journeyman Lineman 40.0 0.0 X 219216 0 35590 Schroeder Ricky Working Foreman 40.0 0.0 X 164652 0 87516 Sorensen Andy Journeyman Lineman 40.0 0.0 X 208725 0 40894 Redmond Ryan Chief Resource Officer 40.0 0.0 X 163628 0 42266 Hall Lisa Chief Business Officer 40.0 0.0 X 111909 0 60636 Jorgenson Marc Board of Director 6.0 0.0 X X 28300 0 0 Uddenberg Signo Board of Director 6.0 0.0 X 27950 0 0 Alvestad L Paul President & Director 6.0 0.0 X X 25950 0 0 Markovich Nick Board of Director 6.0 0.0 X 25750 0 0 Ross Debra Secretary & Director 6.0 0.0 X X 25250 0 0 Spadoni Roger M Board of Director 6.0 0.0 X 24350 0 0 Junge Scott Vice President & Director 6.0 0.0 X X 23950 0 0 Smalley James Board of Director 6.0 0.0 X 23700 0 0 Nordfors Spence Treasurer and Director 6.0 0.0 X X 23450 0 0 1756639 0 536030 38 false true false Active Construction Inc 5110 River Road E Tacoma WA 98443 Operations Cons 829830 Asplundh Tree Expert Co 708 Blair Mill Road Willow Grove PA 19090 Tree Triming/Ve 869151 Equipment Experts Inc 2704 104th ST CT S BLDG K Lakewood WA 98499 Fleet Managemen 369694 RCE Traffic Control Inc 2525 SE Sedgwick Rd Port Orchard WA 98366 Flagging Servic 275838 PRAECE Consulting 25 16th St NE Ste B Auburn WA 98002 Engineering Con 504963 11 0 ELECTRICITY 221000 60505342 60505342 WATER 221000 1760920 1760920 HOOKUP/DISCONNECT/ENGINEERING 221000 173894 173894 Member Service Inc 221000 92539 92539 BPA Reimbursement 221000 206387 206387 15591 15591 62754673 231145 231145 0 0 21904 507729 30419 -8515 507729 499214 -8515 507729 111796 574 111222 111222 111222 0 0 0 0 0 0 0 0 0 Income from equity method inv 900099 644800 644800 644800 64241054 63502180 738874 0 0 0 0 1063111 0 1630063 64753 152500 851508 0 0 0 0 0 0 0 26170 135936 49381 0 0 0 0 20900 1703002 0 7541778 202675 POWER EXPENSE 27547635 MAINTENANCE 4162915 CUSTOMER ACCOUNTS 2730456 DISTRIBUTION 5149642 4198489 57230914 6050562 9732889 288659 274246 0 0 8473329 8977077 0 0 0 0 0 0 2154420 2508432 1038959 748155 216979744 87683574 129206729 129296170 0 0 50207915 49485482 0 0 0 0 6132894 5389593 203553467 206412044 5585706 6461312 0 0 574718 489677 0 0 0 0 0 0 38912371 35064950 0 0 0 0 45072795 42015939 X 0 0 4243212 4274012 154237460 160122093 158480672 164396105 203553467 206412044 X 7010140 -1094707 X X false true X true false 0 3683188 3683188 166731 6152486 5156680 1162537 41115 18359 22756 196774499 82508535 114265964 10161725 10161725 129296170 17553916 C CAPITAL TERM CERTIFICATES 1211750 C CERTIFICATES - CFC 1595704 C PREFERRED STOCK 317881 C INVESTMENT IN PLC ENERGY 28806231 C 49485482 0 0 PART X, LINE 2 PLC IS EXEMPT FROM FEDERAL INCOME TAX UNDER THE INTERNAL REVENUE CODE SECTION 501(C)(12). ACCORDINGLY, NO PROVISION FOR INCOME TAX IS REQUIRED. PLC ENERGY, A FOR-PROFIT ENTITY, ACCOUNTS FOR FEDERAL INCOME TAX USING AN ASSET AND LIABILITY APPROACH, WHICH REQUIRES THE RECOGNITION OF DEFERRED TAX ASSETS AND LIABILITIES FOR THE EXPECTED FUTURE TAX CONSEQUENCES OF TEMPORARY DIFFERENCES BETWEEN THE FINANCIAL STATEMENT AND TAX BASIS OF ASSETS AND LIABILITIES AT THE APPLICABLE ENACTED TAX RATES. A VALUATION ALLOWANCE IS RECORDED AGAINST DEFERRED TAX ASSETS IF, BASED ON THE WEIGHT OF AVAILABLE EVIDENCE, IT IS MORE LIKELY THAN NOT THAT SOME OR ALL OF ITS DEFERRED TAX ASSETS WILL NOT BE REALIZED. PLC ENERGY REPORTS A LIABILITY, IF ANY, FOR UNRECOGNIZED TAX BENEFITS RESULTING FROM UNCERTAIN INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN AN INCOME TAX RETURN. ESTIMATED INTEREST AND PENALTIES, IF ANY, ARE RECORDED AS A COMPONENT OF INTEREST EXPENSE AND OTHER EXPENSE, RESPECTIVELY. NO LIABILITY HAS BEEN RECORDED FOR UNCERTAIN TAX POSITIONS OR RELATED INTEREST OR PENALTIES AS OF DECEMBER 31, 2021 or 2020. X X X X X false false false Hall Lisa Chief Business Officer 91001 20908 32541 28095 172545 Taghavi Jafar Chief Executive Officer 426759 56894 93131 85132 661916 Simpson Michael Chief Operating Officer 154757 2500 18949 70380 20485 267071 Robson Cory Journeyman Lineman 215302 3914 6676 28914 254806 Schroeder Ricky Working Foreman 153901 10751 84289 3227 252168 Sorensen Andy Journeyman Lineman 203981 4744 37756 3138 249619 Redmond Ryan Chief Resource Officer 152132 11496 12360 29906 205894 FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION CONSISTENT WITH THE PURPOSES OF THE MUTUAL CORPORATION. FORM 990, PART VI, SECTION A, LINE 6 WE ARE A MUTUAL/COOPERATIVE WHERE THE RECIPIENTS OF OUR UTILITY SERVICES ARE THE OWNER/MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ALL THE SAME CLASS - RECEIVE UTILITY SERVICE FROM COMPANY. FORM 990, PART VI, SECTION A, LINE 7B THE MEMBERSHIP VOTE IS NEEDED FOR ANNUAL BOARD ELECTIONS AND IN ANOTHER ARTICLE PERTAINING TO THE DISPOSITION OF ASSETS. FORM 990 PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES THAT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY, SO THE QUESTION IS NOT APPLICABLE. FORM 990, PART VI, SECTION B, LINE 11B COPIES OF THE 990 WILL BE INCLUDED IN THE BOARD PACKETS DISTRIBUTED PRIOR TO THEIR MONTHLY MEETING. ANY QUESTIONS WILL BE DISCUSSED AND ANSWERED AT THE BOARD MEETING AND DISCUSSION WILL BE NOTED IN THE BOARD MINUTES. COPIES OF THE 990 WILL BE DISTRIBUTED TO SENIOR STAFF AND ANY QUESTIONS WILL BE DISCUSSED AND ANSWERED AT THE SENIOR STAFF MEETING. FORM 990, PART VI, SECTION B, LINE 12C CHIEF ADMINISTRATIVE OFFICER MONITORS AND ADMINISTERS THE POLICY. FORM 990, PART VI, SECTION B, LINE 15A CEO: AN INDEPENDENT CONSULTANT WAS HIRED TO CONDUCT A MARKET SALARY STUDY FOR THE CEO POSITION. THE CHIEF ADMINISTRATIVE OFFICER WAS ASSIGNED AS PROJECT MANAGER TO WORK WITH THE CONSULTANT AND REPORT DIRECTLY TO THE PRESIDENT OF THE BOARD AND THE CHAIRMAN OF THE COMPENSATION COMMITTEE. THE CEO HAD NO CONTACT OR INTERACTION IN ANY WAY WITH THE CONSULTANT OR CHIEF ADMINISTRATIVE OFFICER OR BOARD REGARDING THIS PROJECT. THE CONSULTANT REPORTED HIS FINDINGS TO THE ENTIRE BOARD OF DIRECTORS WITH THE CHIEF ADMINISTRATIVE OFFICER PRESENT. A QUESTION AND ANSWER SESSION FOLLOWED WHERE THE CONSULTANT AND CHIEF ADMINISTRATIVE OFFICER ANSWERED SPECIFIC QUESTIONS FROM THE BOARD ABOUT THE COMPARABILITY OF DATA PRESENTED. THE CHIEF ADMINISTRATIVE OFFICER AND CONSULTANT WERE EXCUSED AND THE ENTIRE BOARD DELIBERATED BEFORE REACHING THEIR DECISION AS TO WAGE PLACEMENT FOR THE CEO. THE FOLLOWING MORNING THE CHAIRMAN OF THE COMPENSATION COMMITTEE INFORMED THE CHIEF ADMINISTRATIVE OFFICER OF THE COMPENSATION CHANGE AND EFFECTIVE DATE FOR THE CEO. IN A SEPARATE MEETING, THE BOARD PRESIDENT AND CHAIRMAN OF THE COMPENSATION COMMITTEE INFORMED THE CEO. OFFICERS (CFO, CBO, ETC.): AN INDEPENDENT CONSULTANT WAS HIRED TO CONDUCT A MARKET SALARY FOR ALL EXEMPT MANAGEMENT POSITIONS. THE CONSULTANT REPORTED HIS FINDINGS TO THE CHIEF ADMINISTRATIVE OFFICER; THEY DISCUSSED THE DATA COMPARABLES AND SUBSTANTIATION BEHIND IT. THE CHIEF ADMINISTRATIVE OFFICER PRESENTED THIS INFORMATION TO THE CEO AND DISCUSSED IT. AN INTERNAL EQUITY COMPENSATION COMMITTEE WAS FORMED CONSISTING OF A MANAGER FROM EACH DIVISION OF THE COMPANY. TRAINING WAS PROVIDED BY THE CONSULTANT. THIS COMMITTEE PROVIDED INDEPENDENT RECOMMENDATIONS AS TO POSITION PLACEMENT IN A SALARY SCHEDULE. THE CHIEF ADMINISTRATIVE OFFICER AND CEO DISCUSSED THE COMMITTEE AND THE CONSULTANT RECOMMENDATIONS AND THE FINANCIAL ABILITY OF THE COMPANY TO SUPPORT THE DATA. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST AT THE COMPANY'S MAIN OFFICE. FORM 990, PART XI, LINE 9, CHANGES IN NET ASSETS NET INCREASE IN MEMBERSHIPS and equity adjustment for PLC Energy FORM 990, PART IX, LINES 5 & 7 THE AMOUNTS FOR COMPENSATION IN THE STATEMENT OF FUNCTIONAL EXPENSES DO NOT INCLUDE ALL WAGES FOR PENINSULA LIGHT COMPANY. THE AMOUNTS ON LINES 5 & 7 ARE ONLY FOR WAGES PERTAINING TO GENERAL AND ADMINISTRATIVE EMPLOYEES. ALL OTHER WAGES ARE INTEGRATED THROUGHOUT OTHER EXPENSES, SUCH AS POWER EXPENSE, DISTRIBUTION, ETC. PLC Energy Inc 13315 Goodnough Dr NW gig harbor WA 98332 911943365 wholesale power s WA Peninsula Light C Corp -1769000 2558000 1.00000 true harvest wind project (tenants in common) po box 3007 longview WA 98632 264679797 wind farm WA na C Corp 602400 18892000 0.20000 false false true false false false true false false false false false false false false true false false false false PLC Energy Inc B 1750354 Actual Cost PLC Energy Inc O 232557 Actual Cost Harvest Wind Project F 1900000 actual Cost