2021-10-05T15:51:33-05:00 2020-12-31 910189318 MOSS ADAMS LLP 805 SW BROADWAY STE 1200 PORTLAND OR 97205 990 2020-01-01 990346113 KAUAI ISLAND UTILITY COOPERATIVE KAUA 8082464300 4463 PAHEE ST STE 1 LIHUE HI 967662000 KARISSA JONAS FINANCIAL VP & CFO 8002468278 2021-10-05 1 KARISSA JONAS XXX-XX-XXXX WENDY CAMPOS P00448102 5032421447 2021-10-01 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z DAVID BISSELL 4463 PAHEE ST STE 1 LIHUE HI 967662000 146141817 0 X WWW.KIUC.COOP X 1999 HI PROVIDE POWER TO OUR MEMBERS IN A CONSERVATIVE AND SUSTAINABLE MANNER. 9 9 146 0 55563 49107 0 0 154917476 145146816 2031612 1692563 -661392 -729774 156287696 146109605 69751 80743 7225706 7414742 2295549 2689235 0 0 0 146696690 135924885 156287696 146109605 0 0 347042029 370739170 226772072 244222819 120269957 126516351 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 38,445 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 1 114 0 1 146 1 1 1 0 0 0 0 144755899 2404250 0 1 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 X TEOFILO TACBIAN DIRECTOR 15.00 1.00 X 14855 0 0 PETER YUKIMURA TREASURER 15.00 15.00 X X 13687 0 0 ALLAN SMITH CHAIRMAN 15.00 14.00 X X 13217 0 0 JANET KASS DIRECTOR 6.50 0.00 X 12270 0 0 DEE CROWELL DIRECTOR 12.00 0.00 X 12033 0 0 JIM MAYFIELD DIRECTOR 15.00 0.00 X 12025 0 0 CALVIN MURASHIGE SECRETARY 9.00 0.00 X X 11796 0 0 DAVID IHA DIRECTOR 5.00 1.00 X 11552 0 0 JAN TENBRUGGENCATE VICE CHAIR 15.00 15.00 X X 11319 0 0 DAVID BISSELL CEO 60.00 1.00 X 1083033 0 102345 KARISSA JONAS FINANCIAL VP & CFO 50.00 0.00 X 261984 0 104034 MAILE ALFILER MEMBER SERVICES MANAGER 50.00 1.00 X 158344 0 163656 BRAD ROCKWELL CHIEF OF OPERATIONS 55.00 0.00 X 234293 0 76082 CAREY KOIDE T&D MANAGER (RETIRED) 40.00 0.00 X 185001 0 76623 JOHN COX T&D MANAGER 43.00 0.00 X 163200 0 61206 PATRICK MALAMA PRIMARY TROUBLEPERSON 40.00 5.00 X 208695 0 189157 TOM YAMAMOTO PRIMARY TROUBLEPERSON 40.00 0.00 X 210690 0 61437 ELIZABETH UBAY HR & SAFETY MANAGER 50.00 0.00 X 198687 0 62724 TRAVIS OTTO PRIMARY TROUBLEPERSON 50.00 0.00 X 197620 0 55224 HARLEY ECKERT FINANCIAL PLANNING & STRATEGY MGR (RETIRED) 40.00 0.00 X 195561 0 18720 3209862 0 971208 89 0 1 0 WAALANI ENTERPRISES LLC PO BOX 798 LAWAI HI 96765 GRADING AND EXCAVATING 1190083 MCMILLEN LLC 1401 SHORELINE DRIVE SUITE 100 BOISE ID 83702 ENGINEERING SERVICES 804125 HALLUX ECOSYSTEM RESTORATION LLC 1544 HALEUKANA ST UNIT 2 LIHUE HI 96766 PREDATOR CONTROL CONSULTANTS 616161 MORIHARA LAU & FONG LLP 841 BISHOP ST STE 400 HONOLULU HI 96813 LEGAL SERVICES 546962 HAWAIIAN ISLAND TECHNOLOGIES LLC 2530 KIPUKA ST KOLOA HI 96756 IT SERVICES 461559 13 ELECTRICITY 221000 135958087 135958087 SERVICE FEES & OTHER 221000 9188729 9188729 145146816 1692563 1692563 87775 32212 55563 55563 55563 PATRONAGE ALLOCATIONS 900099 250861 250861 NONOPERATING & OTHER 900099 96608 96608 NET LOSS FROM SUBS 900099 -1132806 -1132806 -785337 146109605 144361479 55563 1692563 80743 7414742 2689235 130209 6302276 14739457 UNRELATED BUSINESS TAX 10129 POWER COST 75685307 ADMINISTRATIVE 17507671 OTHER TAXES 12214991 9334845 146109605 15184928 17779425 10254999 10450510 15175034 16334353 1760123 2002488 575756950 316110457 247466298 259646493 32197769 30301164 25002878 34224737 347042029 370739170 18889084 16367022 193767960 215073637 14115028 12782160 226772072 244222819 X 550 565 0 0 120269407 126515786 120269957 126516351 347042029 370739170 X 0 246805 -3 5999592 X X 0 1 X 1 0 10186757 10186757 47591331 24381431 23209900 487894729 291729026 196165703 30084133 30084133 259646493 INVESTMENTS IN ASSOCIATED ORGS 1798546 C INVESTMENTS IN SUBSIDIARY COMPANIES 28165118 C RURAL ECONOMIC DEVELOPMENT LOANS 337500 C 30301164 ACCRUED UNBILLED REVENUE 7349891 SPECIAL DEPOSITS -755 DEFERRED DEBITS 26862217 POST-RETIREMENT BENEFIT ASSET 13384 34224737 DEFERRED CREDITS 10872902 CUSTOMER DEPOSITS 1283952 OTHER LIABILITIES 625306 12782160 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, 2020 AND 2019, 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) 29339 NOT APPLICABLE NOT APPLICABLE CHARITABLE GIVING KIUC CHARITABLE FOUNDATION 4463 PAHEE ST STE 1 LIHUE HI 967662000 510592268 501(C)(3) 24403 NOT APPLICABLE NOT APPLICABLE 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 525215 0 0 0 557818 0 82984 0 19361 0 1185378 0 0 0 KARISSA JONAS FINANCIAL VP & CFO 261292 0 0 0 692 0 81567 0 22467 0 366018 0 0 0 MAILE ALFILER MEMBER SERVICES MANAGER 134714 0 23010 0 620 0 141243 0 22413 0 322000 0 0 0 BRAD ROCKWELL CHIEF OF OPERATIONS 202469 0 30522 0 1302 0 53669 0 22413 0 310375 0 0 0 CAREY KOIDE T&D MANAGER (RETIRED) 152002 0 31957 0 1042 0 69038 0 7585 0 261624 0 0 0 JOHN COX T&D MANAGER 144461 0 17291 0 1448 0 38739 0 22467 0 224406 0 0 0 PATRICK MALAMA PRIMARY TROUBLEPERSON 207800 0 0 0 895 0 168337 0 20820 0 397852 0 0 0 TOM YAMAMOTO PRIMARY TROUBLEPERSON 209794 0 0 0 896 0 39024 0 22413 0 272127 0 0 0 ELIZABETH UBAY HR & SAFETY MANAGER 169186 0 28809 0 692 0 54932 0 7792 0 261411 0 0 0 TRAVIS OTTO PRIMARY TROUBLEPERSON 197140 0 0 0 480 0 32257 0 22967 0 252844 0 0 0 HARLEY ECKERT FINANCIAL PLANNING & STRATEGY MGR (RETIRED) 162110 0 31846 0 1605 0 0 0 18720 0 214281 0 0 0 PART I, LINE 4B DAVID BISSELL: AMOUNT PAID - $529,633 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. 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 - $73,294 ACTUAL EXPENSE - $72,590 KARISSA JONAS: REPORTED CHANGE - $71,877 ACTUAL EXPENSE - $65,798 MAILE ALFILER: REPORTED CHANGE - $135,723 ACTUAL EXPENSE - $47,880 BRAD ROCKWELL: REPORTED CHANGE - $45,439 ACTUAL EXPENSE - $48,355 CAREY KOIDE: REPORTED CHANGE - $63,035 ACTUAL EXPENSE - $59,396 JOHN COX: REPORTED CHANGE - $32,829 ACTUAL EXPENSE - $34,857 PATRICK MALAMA: REPORTED CHANGE - $159,830 ACTUAL EXPENSE - $34,695 TOM YAMAMOTO: REPORTED CHANGE - $30,500 ACTUAL EXPENSE - $23,210 ELIZABETH UBAY: REPORTED CHANGE - $48,021 ACTUAL EXPENSE - $43,558 TRAVIS OTTO: REPORTED CHANGE - $24,219 ACTUAL EXPENSE - $23,210 HARLEY ECKERT: REPORTED CHANGE - $0 ACTUAL EXPENSE - $42,071 FORM 990, PART VI, SECTION A, LINE 6 KIUC HAS APPROXIMATELY 26,359 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 VII, SECTION A, LINE 1A: THE COMPENSATION FOR DAVID BISSELL, CEO INCLUDES A ONE-TIME SUPPLEMENTAL RETIREMENT BENEFIT REPORTED IN COLUMN (D). THIS PAYMENT IS ALSO REPORTED ON SCHEDULE J, LINE 4B. FORM 990, PART XI, LINE 9: CHANGE IN OTHER EQUITY 96,409. CHANGE IN MEMBERSHIPS 15. PATRONAGE NET MARGIN 7,414,742. RETIREMENT OF CAPITAL CREDITS -1,511,574. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN PROCEDURE FROM THE PRIOR YEAR. 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