2014-08-14T15:25:44-05:00 2013-12-31 910605875 PETERSON SULLIVAN LLP CPA'S 601 UNION ST STE 2300 SEATTLE WA 981012345 990 2013-01-01 910361270 PENINSULA LIGHT COMPANY PENI 2538575950 PO BOX 78 GIG HARBOR WA 983350078 JAFAR TAGHAVI CEO 2538575950 2014-08-11 1 RAYMON G HOLMDAHL P00120599 2063827777 2014-08-11 2013 2015-11-30 17:44:51Z JAFAR TAGHAVI PO BOX 78 GIG HARBOR WA 983350078 53435683 0 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 CONSISTENT WITH THE PURPOSES OF THE MUTUAL CORPORATION. 9 9 95 0 0 0 0 0 50917670 51926518 329593 553660 2554494 911137 53801757 53391315 0 0 0 0 2318657 2345876 0 0 0 42447035 41774387 44765692 44120263 9036065 9271052 156789939 164984865 59571021 58442765 97218918 106542100 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. 0 0 DISTRIBUTION OF ELECTRICITY AND WATER TO MEMBERS' PROPERTY. CURRENTLY SERVES APPROXIMATELY 31,000 MEMBERS. 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 48 0 1 95 1 0 0 0 0 0 52193047 1236939 0 X 9 9 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 1 1 X ROBERT DRAGGOO CFO 2538575950 13315 GOODNOUGH DR NW GIG HARBOR WA 98335 JEFF BUCHOLZ SECRETARY 2.00 X X 13250 0 0 L PAUL ALVESTAD DIRECTOR 2.00 X 14950 0 0 MARC JORGENSON TREASURER 2.00 X X 15000 0 0 DEBRA ROSS DIRECTOR 2.00 X 14800 0 0 NICK MARKOVICH PRESIDENT 2.00 X X 16900 0 0 ROGER SPADONI DIRECTOR 2.00 X 14600 0 0 SCOTT JUNGE DIRECTOR 2.00 X 18000 0 0 SIGNO UDDENBERG VICE PRESIDENT 2.00 X X 14050 0 0 SPENCE NORDFORS DIRECTOR 2.00 X 13750 0 0 JAFAR TAGHAVI CEO 55.00 X 299401 0 180190 ROBERT DRAGGOO CFO 55.00 X 162106 0 80359 MICHAEL MCNELLIS OPERATIONS SUPERINTENDENT 40.00 X 138956 0 72839 RAPHAEL GRINBERG POWER RESOURCES MANAGER 40.00 X 131556 0 59507 MICHAEL SIMPSON ENGINEERING MANAGER 40.00 X 131412 0 63887 SCOTT ANDERSON INFORMATION SERVICES MANAGER 40.00 X 115488 0 52751 CORY ROBSON WIREMAN FOREMAN 40.00 X 117349 0 17811 1231568 0 527344 14 0 1 0 ACTIVE CONSTRUCTION 5110 RIVER ROAD E TACOMA WA 98443 OPERATIONS CONSTRUCTION/MAINTENANCE 1487653 ASPLUNDH TREE EXPERT CO 708 BLAIR MILL ROAD WILLOW GROVE PA 19090 TREE TRIMING/VEGETATION MANAGEMENT 760598 POTELCO INC 14103 STEWARD RD SUMNER WA 98390 OPERATIONS CONSTRUCTION/MAINTENANCE 738121 ANCHOR INFORMATION MANAGEMENT DBA UTILIT 41911 WOODSLEE TROY MI 48083 BILL STATEMENT PRINTING & MAILING 243527 JOEL C MERKEL 1001 FOURTH AVENUE SUITE 4050 SEATTLE WA 98154 LEGAL SERVICES 102125 5 ELECTRICITY 221000 50167465 50167465 WATER 221000 947905 947905 MEMBER SERVICE INC 221000 553401 553401 HOOKUP/DISCONNECT/ENGINEERING FEE 221000 255365 255365 RENEWABLE ENERGY CREDITS 221000 2382 2382 51926518 499356 499356 13800 379273 3198 0 10602 379273 389875 10602 379273 54304 0 54304 54304 54304 58832 41170 17662 17662 INCOME FROM EQUITY METHOD INVESTE 900099 503600 503600 503600 53391315 52495024 0 896291 857356 796792 174959 345590 171179 105780 101096 73869 123721 93527 64530 75029 2351801 5248956 186409 POWER EXPENSE 20825636 MAINTENANCE 2987523 DISTRIBUTION 2975393 TAXES 2622297 3938820 44120263 9874841 7930357 125957 7180999 4306637 5066915 39053 25678 1286721 1526016 131544 126216 154851869 52667749 100398543 102184120 38737465 39162981 1889178 1781583 156789939 164984865 5139203 6222622 392887 445907 54038931 51774236 59571021 58442765 X 0 0 3818514 3870644 93400404 102671456 97218918 106542100 156789939 164984865 X 9271052 52130 X X 0 1 X 1 0 677175 677175 110950 5536391 3593209 2054132 14858 14858 0 143695909 49059682 94636227 4816586 4816586 102184120 27402316 C CAPITAL TERM CERTIFICATES 1880355 C PATRONAGE CAPITAL CERTIFICATES - CFC 1088686 C FEDERATED INSURANCE PREFERRED STOCK 168866 C INVESTMENT IN PLC ENERGY 8622758 C 39162981 X X X X X 0 0 0 JAFAR TAGHAVI CEO 254767 0 0 0 44634 0 112695 0 67495 0 479591 0 0 0 ROBERT DRAGGOO CFO 136642 0 0 0 25464 0 51699 0 28660 0 242465 0 0 0 MICHAEL MCNELLIS OPERATIONS SUPERINTENDENT 125834 0 0 0 13122 0 47424 0 25415 0 211795 0 0 0 RAPHAEL GRINBERG POWER RESOURCES MANAGER 120648 0 0 0 10908 0 33814 0 25693 0 191063 0 0 0 MICHAEL SIMPSON ENGINEERING MANAGER 118801 0 0 0 12611 0 41507 0 22380 0 195299 0 0 0 SCOTT ANDERSON INFORMATION SERVICES MANAGER 109452 0 0 0 6036 0 25037 0 27714 0 168239 0 0 0 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 A BY-LAW CHANGE REQUIRES VOTE OF THE MEMBERSHIP. 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 N/A. FORM 990, PART VI, SECTION B, LINE 11 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 HUMAN RESOURCE (HR) DIRECTOR MONITORS AND ADMINISTERS THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 CEO - AN INDEPENDENT CONSULTANT WAS HIRED TO CONDUCT A MARKET SALARY STUDY FOR THE CEO POSITION - THE HR DIRECTOR WAS ASSIGNED AS PROJECT MANAGER TO WORK WITH THE CONSULTANT AND REPORT DIRECTLY TO THE PRESIDENT OF THE BOARD AND THE CHAIRMAN OF THE BOARD GOALS/LONG-TERM PLANNING COMMITTEE. THE CEO HAD NO CONTACT OR INTERACTION IN ANY WAY WITH THE CONSULTANT OR HR DIRECTOR OR BOARD REGARDING THIS PROJECT. - THE CONSULTANT REPORTED HIS FINDINGS TO THE ENTIRE BOARD OF DIRECTORS WITH THE HR DIRECTOR PRESENT. A QUESTION AND ANSWER SESSION FOLLOWED WHERE THE CONSULTANT AND HR DIRECTOR ANSWERED SPECIFIC QUESTIONS FROM THE BOARD ABOUT THE COMPARABILITY OF DATA PRESENTED. - THE HR DIRECTOR 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 BOARD GOALS/LONG-TERM PLANNING COMMITTEE INFORMED THE HR DIRECTOR OF THE COMPENSATION CHANGE AND EFFECTIVE DATE FOR THE CEO. - IN A SEPARATE MEETING, THE BOARD PRESIDENT AND CHAIRMAN OF THE GOALS/LONG-TERM COMMITTEE INFORMED THE CEO. CFO - AN INDEPENDENT CONSULTANT WAS HIRED TO CONDUCT A MARKET SALARY FOR ALL EXEMPT MANAGEMENT POSITIONS - THE CONSULTANT REPORTED HIS FINDINGS TO THE HR DIRECTOR; THEY DISCUSSED THE DATA COMPARABLES AND SUBSTANTIATION BEHIND IT. - THE HR DIRECTOR 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 HR DIRECTOR AND CEO DISCUSSED THE COMMITTEE AND THE CONSULTANT RECOMMENDATIONS AND THE FINANCIAL ABILITY OF THE COMPANY TO SUPPORT THE DATA. - FOLLOWING DELIBERATION, THE PAY RANGE FOR THE CFO POSITION WAS DETERMINED - FOLLOWING THE MARKET STUDY, A MINOR PAY ADJUSTMENT WAS MADE FOR THE CFO INCUMBENT. 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: NET INCREASE IN MEMBERSHIPS 52,130. FORM 990, PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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 PO BOX 78 GIG HARBOR WA 98335 911943365 WHOLESALE POWER SALES WA PENINSULA LIGHT COMPANY C -1689601 1603373 1.00000 1 HARVEST WIND PROJECT (TENANTS IN COMMON) PO BOX 3007 LONGVIEW WA 98632 264679797 WIND FARM WA N/A C 503600 28092600 0.20000 0 0 1 0 0 0 1 0 0 0 0 0 0 0 1 1 0 1 0 0 PLC ENERGY INC B 1529106 ACTUAL COST PLC ENERGY INC O 124024 ACTUAL COST HARVEST WIND PROJECT F 1790000 ACTUAL COST