2015-10-28T17:43:05-05:00 2014-12-31 910189318 MOSS ADAMS LLP 805 SW BROADWAY STE 1200 PORTLAND OR 97205 990 2014-01-01 990346113 KAUAI ISLAND UTILITY COOPERATIVE KAUA 8082464300 4463 PAHEE STREET SUITE 1 LIHUE KAUAI HI 967662000 KARISSA JONAS FINANCIAL VP & CFO 8002468278 2015-10-21 1 WENDY CAMPOS P00448102 5032421447 2014 2016-02-25 16:41:14Z DAVID BISSELL 4463 PAHEE STREET SUITE 1 LIHUE KAUAI HI 967662000 180679403 0 X WWW.KIUC.COOP X 1999 HI 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. 8 8 159 0 39808 34374 0 0 184714287 179375468 840696 1120510 385569 141696 185940552 180637674 123945 84023 2177147 4847237 1890217 1918771 0 0 0 174772335 167675555 178963644 174525586 6976908 6112088 326862040 350986075 241572563 257966813 85289477 93019262 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 36,940 ACTIVE SERVICES AT YEAR END ON THE ISLAND OF KAUAI. 0 0 0 0 0 0 0 0 0 1 1 0 0 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 1 120 0 1 159 1 1 1 0 0 0 0 178751426 2113308 0 X 8 8 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 HI X X CORINNE CUARESMA CONTROLLER 8082468212 4463 PAHEE STREET SUITE 1 LIHUE KAUAI HI 967662000 JAN TENBRUGGENCATE CHAIRMAN (FROM 12/16/14) 25.00 X X 12335 0 0 ALLAN SMITH CHAIRMAN (THROUGH 12/16/14) 13.00 X X 14245 0 0 CALVIN MURASHIGE VICE CHAIR (FROM 12/16/14) 9.00 X X 13829 0 0 CAROL BAIN SECRETARY 16.00 X X 11911 0 0 PETER YUKIMURA TREASURER 20.00 X X 12773 0 0 PATRICK GEGEN VICE TREASURER 20.00 X X 11694 0 0 TEOFILO TACBIAN DIRECTOR 10.00 X 14882 0 0 DAVID IHA DIRECTOR 15.00 X 11900 0 0 KAREN BALDWIN DIRECTOR 15.00 X 11915 0 0 DAVID BISSELL CEO 60.00 X 373204 0 75352 KARISSA JONAS FINANCIAL VP & CFO 55.00 X 220599 0 58108 MICHAEL YAMANE CHIEF OF OPERATIONS 40.00 X 208806 0 101210 BRAD ROCKWELL POWER SUPPLY MANAGER 50.00 X 179816 0 41183 BARBARA NAGAMINE MEMBER SERVICES MANAGER 50.00 X 170981 0 127041 CAREY KOIDE T&D MANAGER 50.00 X 192600 0 151865 CURRAN CHANG PRIMARY TROUBLEPERSON 50.00 X 146268 0 33594 RICHARD VETTER PORT ALLEN STATION MANAGER 55.00 X 155798 0 43642 JAMES KELLY MANAGER OF MEMBER SERVICES & COMM. 50.00 X 153916 0 42788 TOM YAMAMOTO PRIMARY TROUBLEPERSON 50.00 X 158855 0 32681 RUSS SANTIAGO PORT ALLEN MAINTENANCE SUPER. 50.00 X 150585 0 118531 2226912 0 825995 71 0 1 0 WAALANI ENTERPRISES LLC PO BOX 798 LAWAI HI 96765 GRADING AND EXCAVATING 640121 MORIHARA LAU & FONG LLP 841 BISHOP ST STE 400 HONOLULU HI 96813 LEGAL SERVICES 562804 COLLET & ASSOCIATES LLC 1100 MAIN ST STE 1610 KANSAS CITY MO 64105 CONSULTING 529241 JOULE GROUP LLC 1329 NORTH STATE ST STE 209 BELLINGHAM WA 98225 CONSULTING 484094 SUTHERLAND ASBILL & BRENNAN LLP 999 PEACHTREE ST NE ATLANTA GA 303093996 LEGAL SERVICES 274176 14 ELECTRICITY 221000 178751426 178751426 SERVICE FEES 221000 624042 624042 179375468 1120510 1120510 81537 41729 39808 39808 39808 PATRONAGE ALLOCATIONS 221000 53676 53676 MISCELLANEOUS SERVICE 221000 48212 48212 101888 180637674 179477356 39808 1120510 84023 4847237 1918771 77476 7912189 14615042 POWER COST 110589060 UNRELATED BUSINESS TAX 3046 OTHER TAXES 15091978 ADMINISTRATIVE 11292519 8094245 174525586 7815127 20673672 13221074 10172953 15377024 14396538 1223865 1147130 502511216 253404524 262164048 249106692 11443204 39738533 15617698 15750557 326862040 350986075 21514241 18098176 205571318 226620595 14487004 13248042 241572563 257966813 X 451 467 0 0 85289026 93018795 85289477 93019262 326862040 350986075 X 6112088 -207100 1824797 X X 0 1 X 1 0 10168662 10168662 39825854 18973570 20852284 444552360 234430954 210121406 7964340 7964340 249106692 INVESTMENTS IN ASSOCIATED ORGANIZATIONS 791794 C INVESTMENTS IN SUBSIDIARY COMPANIES 37873426 C RURAL ECONOMIC DEVELOPMENT LOANS 1073313 F 39738533 CONSUMER DEPOSITS 1514639 REGULATORY LIABILITIES 8619239 CUSTOMER ADVANCES ON CONSTRUCTION 653485 ECONOMIC DEVELOPMENT 1245057 ENERGY RATE ADJUSTMENT 1109770 OTHER CURRENT LIABILITIES 105852 13248042 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, 2014 AND 2013, THE COOPERATIVE DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS. THE COOPERATIVE FILES AN EXEMPT ORGANIZATION RETURN IN THE U.S. FEDERAL JURISDICTION AND IS NO LONGER SUBJECT TO EXAMINATION BY TAXING AUTHORITIES BEFORE 2011. 1 KAUAI UNITED WAY PO BOX 1087 LIHUE HI 96766 990146288 501(C)(3) 25911 NOT APPLICABLE NOT APPLICABLE CHARITABLE GIVING KIUC CHARITABLE FOUNDATION 4463 PAHEE STREET SUITE 1 LIHUE HI 967662000 510592268 501(C)(3) 12282 NOT APPLICABLE NOT APPLICABLE RELATED EXEMPT OPERATIONS 2 0 PART I, LINE 2: GRANTS ARE APPROVED BY MANAGEMENT. X X X X X 0 0 0 DAVID BISSELL CEO 348497 0 0 0 24707 0 54442 0 20910 0 448556 0 0 0 KARISSA JONAS FINANCIAL VP & CFO 220140 0 0 0 459 0 39662 0 18446 0 278707 0 0 0 MICHAEL YAMANE CHIEF OF OPERATIONS 171936 0 30898 0 5972 0 81991 0 19219 0 310016 0 0 0 BRAD ROCKWELL POWER SUPPLY MANAGER 151807 0 27306 0 703 0 22782 0 18401 0 220999 0 0 0 BARBARA NAGAMINE MEMBER SERVICES MANAGER 143196 0 25879 0 1906 0 110824 0 16217 0 298022 0 0 0 CAREY KOIDE T&D MANAGER 160719 0 28623 0 3258 0 144517 0 7348 0 344465 0 0 0 CURRAN CHANG PRIMARY TROUBLEPERSON 146044 0 0 0 224 0 15193 0 18401 0 179862 0 0 0 RICHARD VETTER PORT ALLEN STATION MANAGER 136390 0 18317 0 1091 0 25241 0 18401 0 199440 0 0 0 JAMES KELLY MANAGER OF MEMBER SERVICES & COMM. 127561 0 25879 0 476 0 24342 0 18446 0 196704 0 0 0 TOM YAMAMOTO PRIMARY TROUBLEPERSON 158516 0 0 0 339 0 14280 0 18401 0 191536 0 0 0 RUSS SANTIAGO PORT ALLEN MAINTENANCE SUPER. 131386 0 17954 0 1245 0 98126 0 20405 0 269116 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 KIUC HAS APPROXIMATELY 46,700 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 B, LINE 11 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. 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 15 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. 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 98,229. CHANGE IN MEMBERSHIPS 16. RETIREMENT OF CAPITAL CREDITS -1,610,241. PATRONAGE NET MARGIN 4,847,237. NET LOSS FROM SUBSIDIARY COMPANIES -1,510,444. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN PROCEDURE FROM THE PRIOR YEAR. 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