2017-10-02T13:52:57-05:00 2016-12-31 450250958 EIDE BAILLY LLP 200 EAST 10TH ST PO BOX 5125 SIOUX FALLS SD 571175125 990 2016-01-01 990346113 KAUAI ISLAND UTILITY COOPERATIVE KAUA 8082464300 4463 PAHEE ST STE 1 LIHUE HI 967662000 KARISSA JONAS FINANCIAL VP & CFO 8082464300 2017-09-28 1 LAURIE HANSON P00851848 6053391999 2017-09-28 199.116.169.75 2017-09-28 13:08:21 CD P C27C1C1487FC879E7DECD91510ADD321C8C9FBCE 92FA066E8274E2B577DB6CECDEFB9BF5F3A81194 2016 2021-01-29 14:40:06Z DAVID BISSELL 4463 PAHEE ST STE 1 LIHUE HI 967662000 145964864 0 X WWW.KIUC.COOP X 1999 HI PROVIDE POWER TO OUR MEMBERS IN A CONSERVATIVE AND SUSTAINABLE MANNER. 9 9 150 0 47337 39183 0 0 143456769 143498562 1985456 2127247 200964 213075 145643189 145838884 144380 92323 5950881 6596917 2126424 1825900 0 0 0 137406840 135551387 145628525 144066527 14664 1772357 370168884 340756263 273640356 237775325 96528528 102980938 TO 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 37,130 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 1 110 0 1 150 1 1 1 0 0 0 0 143867404 2454645 0 X 9 9 1 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 0 0 HI X X CORINNE CUARESMA 8082468212 4463 PAHEE ST STE 1 LIHUE HI 967662000 JAN TENBRUGGENCATE CHAIR 20.00 X X 13751 0 0 CALVIN MURASHIGE VICE CHAIR 11.00 X X 13309 0 0 TEOFILO TACBIAN SECRETARY 10.00 X X 18966 0 0 PETER YUKIMURA TREASURER 20.00 X X 13965 0 0 CAROL BAIN DIRECTOR UNTIL 05/2016 16.00 X 6097 0 0 KAREN BALDWIN DIRECTOR UNTIL 04/2016 15.00 X 4126 0 0 DEE CROWELL DIRECTOR 15.00 X 3281 0 0 DENNIS ESAKI DIRECTOR 10.00 X 14401 0 0 PATRICK GEGEN DIRECTOR 17.00 X 15258 0 0 DAVID IHA DIRECTOR 5.00 X 11773 0 0 ALLAN SMITH DIRECTOR 8.00 X 6563 0 0 DAVID BISSELL CEO 60.00 X 430758 0 135213 KARISSA JONAS FINANCIAL VP & CFO 55.00 X 233102 0 81890 MICHAEL YAMANE CHIEF OF OPERATIONS 50.00 X 219575 0 177796 CAREY KOIDE T&D MANAGER 50.00 X 202108 0 144062 BRAD ROCKWELL POWER SUPPLY MANAGER 50.00 X 204387 0 48702 TOM YAMAMOTO PRIMARY TROUBLEPERSON 50.00 X 165433 0 39731 RICHARD VETTER PORT ALLEN STATION MANAGER 50.00 X 161962 0 51045 TRAVIS OTTO PRIMARY TROUBLEPERSON 50.00 X 175692 0 37349 TIMOTHY BRANTNER PRIMARY TROUBLEPERSON 50.00 X 155833 0 30406 ELIZABETH UBAY HUMAN RESOURCES MANAGER 50.00 X 165792 0 45836 2236132 0 792030 69 0 1 0 WAALANI ENTERPRISES PO BOX 798 LAWAI HI 96765 GRADING AND EXCAVATING 623229 MORIHARA LAU & FONG LLP 841 BISHOP ST STE 400 HONOLULU HI 96813 LEGAL SERVICES 511567 COLLET & ASSOCIATES LLC 4770 NBELLEVIEW AVE SUITE 209 KANSAS CITY MO 64116 CONSULTING 469827 ELECTRATECH SERVICES LLC 6386 AHELE DRIVE KAPAA HI 96746 CONSULTING 419414 EBBIN MOSER & SKAGGS LLP 550 MONTGOMERY ST STE 900 SAN FRANCISCO CA 94111 LEGAL SERVICES 312318 20 ELECTRICITY 221000 143006999 143006999 SERVICE FEES 221000 491563 491563 143498562 2127247 2127247 86492 39155 47337 47337 47337 106186 86825 19361 19361 CAPITAL CREDITS 900099 143430 143430 OTHER NONOPERATING INCOME 900099 2947 2947 146377 145838884 143664300 47337 2127247 92323 6596917 1825900 89292 7449673 14869475 UBIT EXPENSES 8900 POWER COST 78468028 ADMINISTRATIVE 14793510 TAXES 12074745 7797764 144066527 20708105 12727612 9028072 9722339 14538474 13796978 1213025 1139228 515880668 271184623 247319593 244696045 60136724 39904832 17224891 18769229 370168884 340756263 13800517 13164227 245190958 213066724 14648881 11544374 273640356 237775325 X 483 499 0 0 96528045 102980439 96528528 102980938 370168884 340756263 X 1772357 65000 4615053 X 0 1 X 1 0 10180298 10180298 40545491 20410097 20135394 454657710 250774526 203883184 10497169 10497169 244696045 INVESTMENTS IN SUBSIDIARY COMPANIES 37706150 C INVESTMENTS IN ASSOCIATED ORGANIZATIONS 1035816 C RURAL ECONOMIC DEVELOPMENT LOANS 1162866 C 39904832 SPECIAL DEPOSIT 3778 POST-RETIREMENT BENEFIT ASSET 864300 ACCRUED UTILITY REVENUE 7560590 DEFERRED DEBITS 10340561 18769229 ENERGY RATE ADJUSTMENT 355924 CONSUMER DEPOSIT 1674548 OTHER LIABILITY 611585 DEFERRED CREDITS 8902317 11544374 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, 2016, 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 WITH 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 POBOX 1087 LIHUE HI 96766 990146288 501(C)(3) 26873 CHARITABLE GIVING KIUC CHARITABLE FOUNDATION 4463 PAHEE ST STE 1 LIHUE HI 967662000 510592268 501(C)(3) 7050 RELATED EXEMPT OPERATIONS 2 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. KIUC CHARITABLE FOUNDATION SCHOLARSHIPS ARE SELECTED BY COMMITTEE AND QUALIFICATIONS ARE REVIEWED. OTHER GRANTS ARE GIVEN TO APPROVED 501(C)(3) ORGANIZATIONS SELECTED BY COMMITTEE. THE COOPERATIVE RELIES ON THE DONEE ORGANIZATIONS TO USE THE FUNDS AS INTENDED BY THE COOPERATIVE. X X X X X 0 0 0 DAVID BISSELL CEO 406999 0 0 0 23759 0 113774 0 21439 0 565971 0 0 0 KARISSA JONAS FINANCIAL VP & CFO 232398 0 0 0 704 0 62915 0 18975 0 314992 0 0 0 MICHAEL YAMANE CHIEF OF OPERATIONS 183014 0 31772 0 4789 0 157090 0 20706 0 397371 0 0 0 CAREY KOIDE T&D MANAGER 169770 0 29433 0 2905 0 136328 0 7734 0 346170 0 0 0 BRAD ROCKWELL POWER SUPPLY MANAGER 162797 0 38098 0 3492 0 29769 0 18934 0 253090 0 0 0 TOM YAMAMOTO PRIMARY TROUBLEPERSON 165042 0 0 0 391 0 20797 0 18934 0 205164 0 0 0 RICHARD VETTER PORT ALLEN STATION MANAGER 141991 0 18618 0 1353 0 32111 0 18934 0 213007 0 0 0 TRAVIS OTTO PRIMARY TROUBLEPERSON 175449 0 0 0 243 0 17174 0 20175 0 213041 0 0 0 TIMOTHY BRANTNER PRIMARY TROUBLEPERSON 155695 0 0 0 138 0 10772 0 19634 0 186239 0 0 0 ELIZABETH UBAY HUMAN RESOURCES MANAGER 141045 0 24087 0 660 0 24809 0 21028 0 211629 0 0 0 SCHEDULE J, PART II, COLUMN C INCLUDED IN PART II, 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: REPORTED CHANGE ACTUAL EXPENSE DAVID BISSELL $103,174 $60,500 KARISSA JONAS $53,507 $52,401 MICHAEL YAMANE $149,588 $70,053 CAREY KOIDE $129,462 $64,230 BRAD ROCKWELL $23,145 $38,509 TOM YAMAMOTO $14,084 $18,009 RICHARD VETTER $26,320 $32,454 ELIZABETH UBAY $18,972 $32,129 TRAVIS S. OTTO $9,996 $18,009 TIMOTHY A. BRANTNER $4,405 $18,009 FORM 990, PART VI, SECTION A, LINE 2 DIRECTOR DENNIS ESAKI HAS A BUSINESS RELATIONSHIP WITH DIRECTOR PETER YUKIMURA. FORM 990, PART VI, SECTION A, LINE 6 KIUC HAS APPROXIMATELY 49,899 MEMBERS. THE MEMBERSHIP FEE IS $.01 PER MEMBER. FORM 990, PART VI, SECTION A, LINE 7A EACH DIRECTOR IS ELECTED TO A THREE YEAR TERM. THE NINE DIRECTOR'S TERMS ARE STAGGERED SUCH THAT EACH YEAR THREE DIRECTOR SEATS ARE UP FOR ELECTION. EACH CURRENT MEMBER IS ENTITLED TO CAST A BALLOT AND VOTE FOR THREE DIRECTORS TO FILL THE THREE VACANT SEATS, REGARDLESS OF THEIR BILLING AMOUNT. FORM 990, PART VI, SECTION A, LINE 8B THE COOPERATIVE DOES NOT HAVE COMMITTEES WITH BROAD 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 ALL 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 19 THE ORGANIZATION MAKES ITS 990 AVAILABLE TO THE PUBLIC ON ITS WEBSITE AND UPON REQUEST. THE ORGANIZATION MAKES IT 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: NET LOSS FROM SUBSIDIARY COMPANIES -1,779,428. RETIREMENT OF CAPITAL CREDIT -389,607. CHANGE IN OTHER EQUITY 180,084. CHANGE IN MEMEBERSHIP 16. ALLOCATION OF 2016 MARGIN IN 2017 6,596,917. UNCLAIMED FUNDS GRANT EXPENSE 7,071. 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