PENINSULA LIGHT COMPANY INC: Form 990, tax year 2012
View the entire original 990 at ProPublica ↗
- Organization
- PENINSULA LIGHT COMPANY INC (EIN 91-0361270)
- Tax period
- 2012-01-01 to 2012-12-31
- Filed
- 2013-10-03
- IRS object ID
- 201322769349300212
- Schema version
- 2012v2.1
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Timestamp | 2013-10-03T11:35:13-05:00 | Timestamp |
| Tax Period End Date | 2012-12-31 | TaxPeriodEndDate |
Preparer Firm PreparerFirm
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 910605875 | EIN |
Preparer Firm Business Name PreparerFirmBusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PETERSON SULLIVAN LLP CPA'S | BusinessNameLine1 |
Preparer Firm US Address PreparerFirmUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 601 UNION ST STE 2300 | AddressLine1 |
| City | SEATTLE | City |
| State | WA | State |
| ZIP Code | 981012345 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnType |
| Tax Period Begin Date | 2012-01-01 | TaxPeriodBeginDate |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 910361270 | EIN |
Name Name
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PENINSULA LIGHT COMPANY | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Control | PENI | NameControl |
| Phone | 2538575950 | Phone |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 78 | AddressLine1 |
| City | GIG HARBOR | City |
| State | WA | State |
| ZIP Code | 983350078 | ZIPCode |
Officer Officer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | JAFAR TAGHAVI | Name |
| Title | CEO | Title |
| Phone | 2538575950 | Phone |
| Date Signed | 2013-09-26 | DateSigned |
| Authorize Third Party | 1 | AuthorizeThirdParty |
Preparer Preparer
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name | RAYMON G HOLMDAHL | Name |
| PTIN | P00120599 | PTIN |
| Phone | 2063827777 | Phone |
| Date Prepared | 2013-09-26 | DatePrepared |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax Year | 2012 | TaxYear |
| Build TS | 2016-02-24 21:20:13Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Name Of Principal Officer Person | JAFAR TAGHAVI | NameOfPrincipalOfficerPerson |
Address Principal Officer US AddressPrincipalOfficerUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO BOX 78 | AddressLine1 |
| City | GIG HARBOR | City |
| State | WA | State |
| ZIP Code | 983350078 | ZIPCode |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | 53858124 | GrossReceipts |
| Group Return For Affiliates | 0 | GroupReturnForAffiliates |
| Organization501c | X | Organization501c |
| Web Site | WWW.PENLIGHT.ORG | WebSite |
| Type Of Organization Corporation | X | TypeOfOrganizationCorporation |
| Year Formation | 1925 | YearFormation |
| State Legal Domicile | WA | StateLegalDomicile |
| Activity Or Mission Description | 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. | ActivityOrMissionDescription |
| Nbr Voting Members Governing Body | 9 | NbrVotingMembersGoverningBody |
| Nbr Independent Voting Members | 9 | NbrIndependentVotingMembers |
| Total Nbr Employees | 101 | TotalNbrEmployees |
| Total Nbr Volunteers | 0 | TotalNbrVolunteers |
| Total Gross UBI | 0 | TotalGrossUBI |
| Net Unrelated Business Txbl Income | 0 | NetUnrelatedBusinessTxblIncome |
| Contributions Grants Prior Year | 0 | ContributionsGrantsPriorYear |
| Contributions Grants Current Year | 0 | ContributionsGrantsCurrentYear |
| Program Service Revenue Prior Year | 49665780 | ProgramServiceRevenuePriorYear |
| Program Service Revenue CY | 50917670 | ProgramServiceRevenueCY |
| Investment Income Prior Year | 366480 | InvestmentIncomePriorYear |
| Investment Income Current Year | 329593 | InvestmentIncomeCurrentYear |
| Other Revenue Prior Year | 1194214 | OtherRevenuePriorYear |
| Other Revenue Current Year | 2554494 | OtherRevenueCurrentYear |
| Total Revenue Prior Year | 51226474 | TotalRevenuePriorYear |
| Total Revenue Current Year | 53801757 | TotalRevenueCurrentYear |
| Grants And Similar Amnts Prior Year | 0 | GrantsAndSimilarAmntsPriorYear |
| Grants And Similar Amnts CY | 0 | GrantsAndSimilarAmntsCY |
| Benefits Paid To Members Prior Year | 0 | BenefitsPaidToMembersPriorYear |
| Benefits Paid To Members CY | 0 | BenefitsPaidToMembersCY |
| Salaries Etc Prior Year | 2309240 | SalariesEtcPriorYear |
| Salaries Etc Current Year | 2318657 | SalariesEtcCurrentYear |
| Total Prof Fundrsng Exp Prior Year | 0 | TotalProfFundrsngExpPriorYear |
| Total Prof Fundrsng Exp CY | 0 | TotalProfFundrsngExpCY |
| Total Fundrsng Exp Current Year | 0 | TotalFundrsngExpCurrentYear |
| Other Expense Prior Year | 38035186 | OtherExpensePriorYear |
| Other Expenses Current Year | 42447035 | OtherExpensesCurrentYear |
| Total Expenses Prior Year | 40344426 | TotalExpensesPriorYear |
| Total Expenses Current Year | 44765692 | TotalExpensesCurrentYear |
| Revenues Less Expenses Prior Year | 10882048 | RevenuesLessExpensesPriorYear |
| Revenues Less Expenses CY | 9036065 | RevenuesLessExpensesCY |
| Total Assets BOY | 153777898 | TotalAssetsBOY |
| Total Assets EOY | 156789939 | TotalAssetsEOY |
| Total Liabilities BOY | 65638340 | TotalLiabilitiesBOY |
| Total Liabilities EOY | 59571021 | TotalLiabilitiesEOY |
| Net Assets Or Fund Balances BOY | 88139558 | NetAssetsOrFundBalancesBOY |
| Net Assets Or Fund Balances EOY | 97218918 | NetAssetsOrFundBalancesEOY |
| Mission Description | 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. | MissionDescription |
| Significant New Program Services | 0 | SignificantNewProgramServices |
| Significant Change | 0 | SignificantChange |
| Description | DISTRIBUTION OF ELECTRICITY AND WATER TO MEMBERS' PROPERTY. CURRENTLY SERVES APPROXIMATELY 31,000 MEMBERS. | Description |
| Described In501 C3 | 0 | DescribedIn501C3 |
| Schedule B Required | 0 | ScheduleBRequired |
| Political Activities | 0 | PoliticalActivities |
| Subject To Proxy Tax | 0 | SubjectToProxyTax |
| Donor Advised Funds | 0 | DonorAdvisedFunds |
| Conservation Easements | 0 | ConservationEasements |
| Collections Of Art | 0 | CollectionsOfArt |
| Credit Counseling | 0 | CreditCounseling |
| Term Or Permanent Endowments | 0 | TermOrPermanentEndowments |
| Report Land Bldg Equip | 1 | ReportLandBldgEquip |
| Report Invest Oth Securities | 1 | ReportInvestOthSecurities |
| Report Prog Rel Invest | 0 | ReportProgRelInvest |
| Report Other Assets | 0 | ReportOtherAssets |
| Report Other Liabilities | 0 | ReportOtherLiabilities |
| Report Fin48 Footnote | 0 | ReportFin48Footnote |
| Independent Audit Financial Stmt | 0 | IndependentAuditFinancialStmt |
| Consolidated Audit Financial Stmt | 1 | ConsolidatedAuditFinancialStmt |
| School | 0 | School |
| Foreign Office | 0 | ForeignOffice |
| Foreign Activities | 0 | ForeignActivities |
| More Than5000 K To Organizations | 0 | MoreThan5000KToOrganizations |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividuals |
| Professional Fundraising | 0 | ProfessionalFundraising |
| Fundraising Activities | 0 | FundraisingActivities |
| Gaming | 0 | Gaming |
| Hospital | 0 | Hospital |
| Grants To Organizations | 0 | GrantsToOrganizations |
| Grants To Individuals | 0 | GrantsToIndividuals |
| Schedule J Required | 1 | ScheduleJRequired |
| Tax Exempt Bonds | 0 | TaxExemptBonds |
| Loan To Officer Or DQP | 0 | LoanToOfficerOrDQP |
| Grant To Related Person | 0 | GrantToRelatedPerson |
| Bsnss Rltnshp With Organization | 0 | BsnssRltnshpWithOrganization |
| Bsnss Rltnshp Thru Family Member | 0 | BsnssRltnshpThruFamilyMember |
| Officer Entity With Bsnss Rltnshp | 0 | OfficerEntityWithBsnssRltnshp |
| Deductible Non Cash Contributions | 0 | DeductibleNonCashContributions |
| Deductible Contributions Of Art | 0 | DeductibleContributionsOfArt |
| Terminated | 0 | Terminated |
| Partial Liquidation | 0 | PartialLiquidation |
| Disregarded Entity | 0 | DisregardedEntity |
| Related Entity | 1 | RelatedEntity |
| Related Org Controlled Entity | 1 | RelatedOrgControlledEntity |
| Transaction Related Entity | 0 | TransactionRelatedEntity |
| Activities Conducted Partnership | 0 | ActivitiesConductedPartnership |
| Schedule O Required | 1 | ScheduleORequired |
| Number Forms Transmitted With1096 | 47 | NumberFormsTransmittedWith1096 |
| Number W2 G Included | 0 | NumberW2GIncluded |
| Compliance With Backup Witholding | 1 | ComplianceWithBackupWitholding |
| Number Of Employees | 101 | NumberOfEmployees |
| Employment Tax Returns Filed | 1 | EmploymentTaxReturnsFiled |
| Unrelated Business Income | 0 | UnrelatedBusinessIncome |
| Foreign Financial Account | 0 | ForeignFinancialAccount |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTrans |
| Taxable Party Notification | 0 | TaxablePartyNotification |
| Non Deductible Contributions | 0 | NonDeductibleContributions |
| Gross Income From Members | 51237785 | GrossIncomeFromMembers |
| Gross Income Other Sources | 2953061 | GrossIncomeOtherSources |
| Indoor Tanning Services | 0 | IndoorTanningServices |
| Info In Schedule O Part VI | X | InfoInScheduleOPartVI |
| Nbr Voting Governing Body Members | 9 | NbrVotingGoverningBodyMembers |
| Number Independent Voting Members | 9 | NumberIndependentVotingMembers |
| Family Or Business Relationship | 0 | FamilyOrBusinessRelationship |
| Delegation Of Management Duties | 0 | DelegationOfManagementDuties |
| Changes To Organizing Docs | 0 | ChangesToOrganizingDocs |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuse |
| Members Or Stockholders | 1 | MembersOrStockholders |
| Election Of Board Members | 1 | ElectionOfBoardMembers |
| Decisions Subject To Approval | 1 | DecisionsSubjectToApproval |
| Minutes Of Governing Body | 1 | MinutesOfGoverningBody |
| Minutes Of Committees | 0 | MinutesOfCommittees |
| Officer Mailing Address | 0 | OfficerMailingAddress |
| Local Chapters | 0 | LocalChapters |
| Form990 Provided To Governing Body | 1 | Form990ProvidedToGoverningBody |
| Conflict Of Interest Policy | 1 | ConflictOfInterestPolicy |
| Annual Disclosure Covered Persons | 1 | AnnualDisclosureCoveredPersons |
| Regular Monitoring Enforcement | 1 | RegularMonitoringEnforcement |
| Whistleblower Policy | 1 | WhistleblowerPolicy |
| Document Retention Policy | 1 | DocumentRetentionPolicy |
| Compensation Process CEO | 1 | CompensationProcessCEO |
| Compensation Process Other | 1 | CompensationProcessOther |
| Investment In Joint Venture | 1 | InvestmentInJointVenture |
| Written Policy Or Procedure | 1 | WrittenPolicyOrProcedure |
| States Where Copy Of Return Is Filed | WA | StatesWhereCopyOfReturnIsFiled |
| Upon Request | X | UponRequest |
The Books Are In Care Of TheBooksAreInCareOf
Name Business NameBusiness
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | ROBERT DRAGGOO CFO | BusinessNameLine1 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Telephone Number | 2538575950 | TelephoneNumber |
Address US AddressUS
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 13315 GOODNOUGH DR NW | AddressLine1 |
| City | GIG HARBOR | City |
| State | WA | State |
| ZIP Code | 98335 | ZIPCode |
Form990 Part VII Section A Form990PartVIISectionA (16 entries)
| TitleTitle | Average Hours Per WeekAverageHoursPerWeek | Individual Trustee Or DirectorIndividualTrusteeOrDirector | OfficerOfficer | Reportable Comp From OrganizationReportableCompFromOrganization | Reportable Comp From Related OrgsReportableCompFromRelatedOrgs | Other CompensationOtherCompensation | Highest Compensated EmployeeHighestCompensatedEmployee |
|---|---|---|---|---|---|---|---|
| JEFF BUCHOLZ | |||||||
| SECRETARY | 2.00 | X | X | 13100 | 0 | 0 | |
| L PAUL ALVESTAD | |||||||
| DIRECTOR | 2.00 | X | 13950 | 0 | 0 | ||
| MARC JORGENSON | |||||||
| TREASURER | 2.00 | X | X | 16300 | 0 | 0 | |
| DEBRA ROSS | |||||||
| DIRECTOR | 2.00 | X | 14250 | 0 | 0 | ||
| NICK MARKOVICH | |||||||
| PRESIDENT | 2.00 | X | X | 14750 | 0 | 0 | |
| ROGER SPADONI | |||||||
| DIRECTOR | 2.00 | X | 12850 | 0 | 0 | ||
| SCOTT JUNGE | |||||||
| DIRECTOR | 2.00 | X | 14300 | 0 | 0 | ||
| SIGNO UDDENBERG | |||||||
| VICE PRESIDENT | 2.00 | X | X | 13450 | 0 | 0 | |
| SPENCE NORDFORS | |||||||
| DIRECTOR | 2.00 | X | 14350 | 0 | 0 | ||
| JAFAR TAGHAVI | |||||||
| CEO | 55.00 | X | 284640 | 0 | 140407 | ||
| ROBERT DRAGGOO | |||||||
| CFO | 55.00 | X | 158418 | 0 | 78647 | ||
| MICHAEL MCNELLIS | |||||||
| OPERATIONS SUPERINTENDENT | 40.00 | 138748 | 0 | 77358 | X | ||
| RAPHAEL GRINBERG | |||||||
| POWER RESOURCES MANAGER | 40.00 | 131202 | 0 | 50258 | X | ||
| MICHAEL SIMPSON | |||||||
| ENGINEERING MANAGER | 40.00 | 129743 | 0 | 56258 | X | ||
| DANIEL CAINES | |||||||
| JOURNEYMAN LINEMAN | 40.00 | 122766 | 0 | 22861 | X | ||
| CLARK KAPRON | |||||||
| JOURNEYMAN LINEMAN | 40.00 | 117170 | 0 | 38834 | X | ||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | 1209987 | TotalReportableCompFromOrg |
| Total Reportable Comp Frm Rltd Orgs | 0 | TotalReportableCompFrmRltdOrgs |
| Total Other Compensation | 464623 | TotalOtherCompensation |
| Number Individuals GT100 K | 7 | NumberIndividualsGT100K |
| Formers Listed | 0 | FormersListed |
| Total Comp GT150 K | 1 | TotalCompGT150K |
| Compensation From Other Sources | 0 | CompensationFromOtherSources |
Contractor Compensation ContractorCompensation (5 entries)
| Address Line1AddressOfContractor/AddressUS/AddressLine1 | CityAddressOfContractor/AddressUS/City | StateAddressOfContractor/AddressUS/State | ZIP CodeAddressOfContractor/AddressUS/ZIPCode | Description Of ServicesDescriptionOfServices | CompensationCompensation |
|---|---|---|---|---|---|
| ACTIVE CONSTRUCTION | |||||
| 5110 RIVER ROAD E | TACOMA | WA | 98443 | OPERATIONS CONSTRUCTION/MAINTENANCE | 1675987 |
| ASPLUNDH TREE EXPERT CO | |||||
| 708 BLAIR MILL ROAD | WILLOW GROVE | PA | 19090 | TREE TRIMING | 727402 |
| POTELCO INC | |||||
| 14103 STEWARD RD | SUMNER | WA | 98390 | CONSTRUCTION/MAINTENANCE | 690627 |
| ANCHOR INFORMATION MANAGEMENT DBA UTILIT | |||||
| 41911 WOODSLEE | TROY | MI | 48083 | BILL STATEMENT PRINTING & MAILING | 255577 |
| JOEL C MERKEL | |||||
| 1001 FOURTH AVENUE SUITE 4050 | SEATTLE | WA | 98154 | LEGAL SERVICES | 120514 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Number Of Contractors GT100 K | 5 | NumberOfContractorsGT100K |
Program Service Revenue ProgramServiceRevenue (4 entries)
| DescriptionDescription | Business CodeBusinessCode | Total Revenue ColumnTotalRevenueColumn | Related Or Exempt Function IncomeRelatedOrExemptFunctionIncome |
|---|---|---|---|
| ELECTRICITY | 221000 | 49139008 | 49139008 |
| WATER | 221000 | 931568 | 931568 |
| MEMBER SERVICE INC | 221000 | 626179 | 626179 |
| HOOKUP/DISCONNECT/ENGINEERING FEE | 221000 | 220915 | 220915 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | 50917670 | TotalProgramServiceRevenue |
Investment Income InvestmentIncome
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 241891 | TotalRevenueColumn |
| Exclusion | $241,891 | ExclusionAmount |
Gross Rents GrossRents
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 13800 | Real |
| Personal | 356251 | Personal |
Less Rental Expenses LessRentalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 12293 | Real |
| Personal | 0 | Personal |
Rental Income Or Loss RentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | 1507 | Real |
| Personal | 356251 | Personal |
Net Rental Income Or Loss NetRentalIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 357758 | TotalRevenueColumn |
| Related Or Exempt Function Income | 1507 | RelatedOrExemptFunctionIncome |
| Exclusion | $356,251 | ExclusionAmount |
Gross Amount Sales Assets GrossAmountSalesAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 87702 | Other |
Less Cost Oth Basis Sales Expenses LessCostOthBasisSalesExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 0 | Other |
Gain Or Loss GainOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other | 87702 | Other |
Net Gain Or Loss Investments NetGainOrLossInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 87702 | TotalRevenueColumn |
| Related Or Exempt Function Income | 87702 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Sales Of Inventory | 62610 | GrossSalesOfInventory |
| Cost Of Goods Sold | 44074 | CostOfGoodsSold |
Net Income Or Loss NetIncomeOrLoss
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 18536 | TotalRevenueColumn |
| Exclusion | $18,536 | ExclusionAmount |
Other Revenue Misc OtherRevenueMisc
| Field | Value | IRS element (for citing) |
|---|---|---|
| Description | INCOME FROM EQUITY METHOD INVESTE | Description |
| Business Code | 900099 | BusinessCode |
| Total Revenue Column | 2178200 | TotalRevenueColumn |
| Related Or Exempt Function Income | 2178200 | RelatedOrExemptFunctionIncome |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Other Revenue | 2178200 | TotalOtherRevenue |
Total Revenue TotalRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | 53801757 | TotalRevenueColumn |
| Related Or Exempt Function Income | 53185079 | RelatedOrExemptFunctionIncome |
| Unrelated Business Revenue | 0 | UnrelatedBusinessRevenue |
| Exclusion | $616,678 | ExclusionAmount |
Comp Current Officers Directors CompCurrentOfficersDirectors
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 789412 | Total |
Other Salaries And Wages OtherSalariesAndWages
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 825684 | Total |
Pension Plan Contributions PensionPlanContributions
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 171702 | Total |
Other Employee Benefits OtherEmployeeBenefits
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 360326 | Total |
Payroll Taxes PayrollTaxes
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 171533 | Total |
Fees For Services Legal FeesForServicesLegal
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 116014 | Total |
Fees For Services Other FeesForServicesOther
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 147755 | Total |
Advertising Advertising
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 67555 | Total |
Office Expenses OfficeExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 123974 | Total |
Information Technology InformationTechnology
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 57901 | Total |
Occupancy Occupancy
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 62393 | Total |
Conferences Meetings ConferencesMeetings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 87255 | Total |
Interest Interest
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 2491016 | Total |
Depreciation Depletion DepreciationDepletion
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 5069844 | Total |
Insurance Insurance
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 182999 | Total |
Other Expenses OtherExpenses (4 entries)
| DescriptionDescription | TotalTotal |
|---|---|
| POWER EXPENSE | 21637157 |
| DISTRIBUTION | 2895925 |
| MAINTENANCE | 2701195 |
| TAXES | 2490723 |
All Other Expenses AllOtherExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 4315329 | Total |
Total Functional Expenses TotalFunctionalExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | 44765692 | Total |
Cash Non Interest Bearing CashNonInterestBearing
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 8362253 | BOY |
| EOY | 9874841 | EOY |
Savings And Temp Cash Investments SavingsAndTempCashInvestments
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 2644817 | BOY |
| EOY | 125957 | EOY |
Accounts Receivable AccountsReceivable
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5185393 | BOY |
| EOY | 4306637 | EOY |
Other Notes Loans Receivable Net OtherNotesLoansReceivableNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 40860 | BOY |
| EOY | 39053 | EOY |
Inventories For Sale Or Use InventoriesForSaleOrUse
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1617131 | BOY |
| EOY | 1286721 | EOY |
Prepaid Expenses Deferred Charges PrepaidExpensesDeferredCharges
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 120790 | BOY |
| EOY | 131544 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Buildings Equipment Basis | 149236086 | LandBuildingsEquipmentBasis |
| Land Bldg Equipment Accum Deprec | 48837543 | LandBldgEquipmentAccumDeprec |
Land Buildings Equipment Basis Net LandBuildingsEquipmentBasisNet
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 97515960 | BOY |
| EOY | 100398543 | EOY |
Investments Other Securities InvestmentsOtherSecurities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 36293922 | BOY |
| EOY | 38737465 | EOY |
Other Assets Total OtherAssetsTotal
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 1996772 | BOY |
| EOY | 1889178 | EOY |
Total Assets TotalAssets
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 153777898 | BOY |
| EOY | 156789939 | EOY |
Accounts Payable Accrued Expenses AccountsPayableAccruedExpenses
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 5684084 | BOY |
| EOY | 5139203 | EOY |
Deferred Revenue DeferredRevenue
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | 392887 | EOY |
Mort Notes Pybl Secured Invest Prop MortNotesPyblSecuredInvestProp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 59854256 | BOY |
| EOY | 54038931 | EOY |
Other Liabilities OtherLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 100000 | BOY |
| EOY | 0 | EOY |
Total Liabilities TotalLiabilities
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 65638340 | BOY |
| EOY | 59571021 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Do Not Follow SFAS117 | X | DoNotFollowSFAS117 |
Cap Stck Trst Prin Current Funds CapStckTrstPrinCurrentFunds
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 0 | BOY |
| EOY | 0 | EOY |
Paid In Cap Srpls Land Bldg Eqp Fund PaidInCapSrplsLandBldgEqpFund
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 3775219 | BOY |
| EOY | 3818514 | EOY |
Retained Earnings Endowment Etc RetainedEarningsEndowmentEtc
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 84364339 | BOY |
| EOY | 93400404 | EOY |
Total Net Assets Fund Balances TotalNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 88139558 | BOY |
| EOY | 97218918 | EOY |
Total Liab Net Assets Fund Balances TotalLiabNetAssetsFundBalances
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | 153777898 | BOY |
| EOY | 156789939 | EOY |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | X | InfoInScheduleOPartXI |
| Reconcilation Revenue Expenses | 9036065 | ReconcilationRevenueExpenses |
| Reconcilation Other Changes | 43295 | ReconcilationOtherChanges |
| Info In Schedule O Part XII | X | InfoInScheduleOPartXII |
| Method Of Accounting Accrual | X | MethodOfAccountingAccrual |
| Accountant Compile Or Review | 0 | AccountantCompileOrReview |
| FS Audited | 1 | FSAudited |
FS Audited Basis FSAuditedBasis
| Field | Value | IRS element (for citing) |
|---|---|---|
| Financial Statement Consolidated | X | FinancialStatementConsolidated |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | 1 | AuditCommittee |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequired |
Schedule D IRS990ScheduleD
Land Land
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 677175 | OtherCostOrOtherBasis |
| Book Value | 677175 | BookValue |
Buildings Buildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | 110950 | InvestmentCostOrOtherBasis |
| Other Cost Or Other Basis | 5502070 | OtherCostOrOtherBasis |
| Depreciation | 3393412 | Depreciation |
| Book Value | 2219608 | BookValue |
Leasehold Improvements LeaseholdImprovements
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 14858 | OtherCostOrOtherBasis |
| Depreciation | 14858 | Depreciation |
| Book Value | 0 | BookValue |
Equipment Equipment
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 137894252 | OtherCostOrOtherBasis |
| Depreciation | 45429273 | Depreciation |
| Book Value | 92464979 | BookValue |
Other Land Buildings OtherLandBuildings
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | 5036781 | OtherCostOrOtherBasis |
| Book Value | 5036781 | BookValue |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Land Buildings | 100398543 | TotalOfBookValueLandBuildings |
Closely Held Equity Interests CloselyHeldEquityInterests
| Field | Value | IRS element (for citing) |
|---|---|---|
| Book Value | 28688800 | BookValue |
| Method Of Valuation | C | MethodOfValuation |
Other Securities OtherSecurities (4 entries)
| DescriptionDescription | Book ValueBookValue | Method Of ValuationMethodOfValuation |
|---|---|---|
| CAPITAL TERM CERTIFICATES | 1912176 | C |
| PATRONAGE CAPITAL CERTIFICATES - CFC | 1002095 | C |
| FEDERATED INSURANCE PREFERRED STOCK | 164767 | C |
| INVESTMENT IN PLC ENERGY | 6969627 | C |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Of Book Value Securities | 38737465 | TotalOfBookValueSecurities |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | X | CompensationCommittee |
| Independent Consultant | X | IndependentConsultant |
| Written Employment Contract | X | WrittenEmploymentContract |
| Compensation Survey | X | CompensationSurvey |
| Board Or Committee Approval | X | BoardOrCommitteeApproval |
| Severance Payment | 0 | SeverancePayment |
| Supplemental Nonqual Retire Plan | 0 | SupplementalNonqualRetirePlan |
| Equity Based Comp Arrangement | 0 | EquityBasedCompArrangement |
Form990 Schedule J Part II Form990ScheduleJPartII (6 entries)
| TitleTitle | Base Compensation Filing OrgBaseCompensationFilingOrg | Comp Based On Related OrgsCompBasedOnRelatedOrgs | Bonus Filing OrgBonusFilingOrg | Bonus Related OrgsBonusRelatedOrgs | Other Compensation Filing OrgOtherCompensationFilingOrg | Other Compensation Related OrgsOtherCompensationRelatedOrgs | Deferred Comp Filing OrgDeferredCompFilingOrg | Deferred Comp Related OrgsDeferredCompRelatedOrgs | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrg | Nontaxable Benefits Related OrgsNontaxableBenefitsRelatedOrgs | Total Compensation Filing OrgTotalCompensationFilingOrg | Total Compensation Related OrgsTotalCompensationRelatedOrgs | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrg | Comp Report Prior990 Related OrgsCompReportPrior990RelatedOrgs |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| JAFAR TAGHAVI | ||||||||||||||
| CEO | 241002 | 0 | 0 | 0 | 43638 | 0 | 77101 | 0 | 63306 | 0 | 425047 | 0 | 0 | 0 |
| ROBERT DRAGGOO | ||||||||||||||
| CFO | 129385 | 0 | 0 | 0 | 29033 | 0 | 42850 | 0 | 35797 | 0 | 237065 | 0 | 0 | 0 |
| MICHAEL MCNELLIS | ||||||||||||||
| OPERATIONS SUPERINTENDENT | 114387 | 0 | 0 | 0 | 24361 | 0 | 38655 | 0 | 38703 | 0 | 216106 | 0 | 0 | 0 |
| RAPHAEL GRINBERG | ||||||||||||||
| POWER RESOURCES MANAGER | 118856 | 0 | 0 | 0 | 12346 | 0 | 24997 | 0 | 25261 | 0 | 181460 | 0 | 0 | 0 |
| MICHAEL SIMPSON | ||||||||||||||
| ENGINEERING MANAGER | 118039 | 0 | 0 | 0 | 11704 | 0 | 35592 | 0 | 20666 | 0 | 186001 | 0 | 0 | 0 |
| CLARK KAPRON | ||||||||||||||
| JOURNEYMAN LINEMAN | 93765 | 0 | 0 | 0 | 23405 | 0 | 24742 | 0 | 14092 | 0 | 156004 | 0 | 0 | 0 |
Schedule O IRS990ScheduleO
General Explanation GeneralExplanation (11 entries)
| Return ReferenceReturnReference | ExplanationExplanation | IdentifierIdentifier |
|---|---|---|
| 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 AN ANNUAL MARKET SALARY SURVEY/STUDY FOR THE CEO POSITION. - THE CONSULTANT REPORTED 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, THE COMMITTEE OR THE BOARD REGARDING THIS PROJECT. - THE CONSULTANT ALSO REPORTED HIS FINDINGS DIRECTLY TO THE ENTIRE BOARD OF DIRECTORS. A QUESTION AND ANSWER SESSION FOLLOWED WHERE THE CONSULTANT ANSWERED SPECIFIC QUESTIONS FROM THE BOARD ABOUT THE COMPARABILITY OF DATA PRESENTED. - THE ENTIRE BOARD DELIBERATED BEFORE REACHING THEIR DECISION AS TO WAGE PLACEMENT FOR THE CEO. - IN A SEPARATE MEETING, THE BOARD PRESIDENT AND CHAIRMAN OF THE GOALS/LONG-TERM COMMITTEE INFORMED THE CEO OF THE BOARDS DECISIONS AS TO HIS SALARY. THE HR DIRECTOR WAS SUBSEQUENTLY INFORMED OF THE COMPENSATION CHANGE AND EFFECTIVE DATE FOR THE CEO. EXEMPT MANAGEMENT EMPLOYEES WHO ARE LISTED IN PART VII, SECTION A, LINE 1A. - THE CEO AND THE HR DIRECTOR ARE RESPONSIBLE FOR OBTAINING MARKET SALARY DATA AND ESTABLISHING SALARIES OF EXEMPT MANAGEMENT EMPLOYEES BASED ON COMPARABILITY DATA WITHIN THE ELECTRIC DISTRIBUTION UTILITY INDUSTRY. - THE CEO AND THE HR DIRECTOR REVIEWED CURRENT INDUSTRY PAY COMPARABILITY SURVEYS. AN INDEPENDENT CONSULTANT IS HIRED PERIODICALLY TO CONDUCT A MARKET SALARY FOR ALL EXEMPT MANAGEMENT POSITIONS, BUT WAS NOT HIRED FOR THE CURRENT YEAR. - SEVERAL YEARS AGO, AN INTERNAL EQUITY COMPENSATION COMMITTEE WAS FORMED CONSISTING OF A MANAGER FROM EACH DIVISION OF THE COMPANY. THIS COMMITTEE PROVIDED INDEPENDENT RECOMMENDATIONS AS TO THE PLACEMENT OF POSITIONS IN A SALARY SCHEDULE (MATRIX) TO ASSURE THAT THE PAY OF EXEMPT PROFESSIONALS AND MANAGERS IS EQUITABLE IN RELATION TO EACH OTHER BASED ON THEIR FUNCTIONS. IF A NEW EXEMPT POSITION IS CREATED, THE POSITION IS PLACED IN THE MATRIX SO AS TO ASSURE CONTINUING PAY EQUITY AMONG EXEMPT PROFESSIONALS AND MANAGERS. THE CEO AND THE HR DIRECTOR MEET ANNUALLY TO DISCUSS THE DATA COMPARABLES AS DETERMINED THROUGH INDUSTRY SURVEYS, THE SUBSTANTIATION BEHIND THEM, THE INTERNALLY DEVELOPED SALARY EQUITY MATRIX, AND THE ABILITY OF THE COMPANY TO SUPPORT THE DATA. FOLLOWING DELIBERATION, THE PAY RANGE AND PAY ADJUSTMENTS FOR THE EXEMPT PROFESSIONALS AND MANAGEMENT EMPLOYEES WAS ULTIMATELY DETERMINED BY THE CEO BASED ON THE ABOVE DATA AND THE INTERNAL EQUITY COMPENSATION MATRIX. - REGARDING THE CFO, THE CEO PERSONALLY CONDUCTED AN ADDITIONAL INFORMAL INVESTIGATION OF THE PAY RANGE FOR CFOS EMPLOYED BY OTHER PUBLICLY OR COOPERATIVELY OWNED UTILITIES IN THE NORTHWEST. THE CEO DETERMINED THAT A MINOR PAY ADJUSTMENT WAS APPROPRIATE AND 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 43,295. | CHANGES IN NET ASSETS OR FUND BALANCES: |
| FORM 990, PART XI, 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. | COMPENSATION |
Schedule R IRS990ScheduleR
Form990 Schedule R Part IV Form990ScheduleRPartIV (2 entries)
| Address Line1AddressUS/AddressLine1 | CityAddressUS/City | StateAddressUS/State | ZIP CodeAddressUS/ZIPCode | EINEIN | Primary ActivityPrimaryActivity | Legal Domicile StateLegalDomicileState | Business Name Line1DirectControllingEntityName/BusinessNameLine1 | Type Of EntityTypeOfEntity | Share Of Total IncomeShareOfTotalIncome | Share Of EOY AssetsShareOfEOYAssets | Percentage OwnershipPercentageOwnership | Controlled OrgControlledOrg | Direct Controlling Entity NADirectControllingEntityNA |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| PLC ENERGY INC | |||||||||||||
| PO BOX 78 | GIG HARBOR | WA | 98335 | 911943365 | WHOLESALE POWER SALES | WA | PENINSULA LIGHT COMPANY | C | -2101387 | 1533703 | 1.00000 | 0 | |
| HARVEST WIND PROJECT (TENANTS IN COMMON) | |||||||||||||
| PO BOX 3007 | LONGVIEW | WA | 98632 | 264679797 | WIND FARM | WA | C | 2178200 | 29275000 | 0.20000 | 0 | N/A | |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Ann Rents Royalties | 0 | ReceiptOfIntAnnRentsRoyalties |
| Gift Grant Or Cap Contr To Other Org | 1 | GiftGrantOrCapContrToOtherOrg |
| Gift Grant Or Cap Contr Fr Other Org | 0 | GiftGrantOrCapContrFrOtherOrg |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrg |
| Loans Or Guarantees From Other Org | 0 | LoansOrGuaranteesFromOtherOrg |
| Dividends Related Organization | 1 | DividendsRelatedOrganization |
| Sale Of Assets To Other Org | 0 | SaleOfAssetsToOtherOrg |
| Purchase Of Assets From Other Org | 0 | PurchaseOfAssetsFromOtherOrg |
| Exchange Of Assets | 0 | ExchangeOfAssets |
| Rental Of Facilities To Other Orgs | 0 | RentalOfFacilitiesToOtherOrgs |
| Rental Of Facilities Fr Other Orgs | 0 | RentalOfFacilitiesFrOtherOrgs |
| Perform Of Services For Other Orgs | 0 | PerformOfServicesForOtherOrgs |
| Perform Of Services By Other Orgs | 0 | PerformOfServicesByOtherOrgs |
| Sharing Of Facilities | 1 | SharingOfFacilities |
| Sharing Of Paid Employees | 1 | SharingOfPaidEmployees |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrg |
| Reimbursement Paid By Other Org | 1 | ReimbursementPaidByOtherOrg |
| Other Transfer To Other Org | 0 | OtherTransferToOtherOrg |
| Other Transfer From Other Org | 0 | OtherTransferFromOtherOrg |
Transactions Related Orgs Table TransactionsRelatedOrgsTable (3 entries)
| Transaction TypeTransactionType | Amount InvolvedAmountInvolved | Method Of Amt DeterminationMethodOfAmtDetermination |
|---|---|---|
| PLC ENERGY INC | ||
| B | 1907862 | ACTUAL COST |
| PLC ENERGY INC | ||
| O | 103193 | ACTUAL COST |
| HARVEST WIND PROJECT | ||
| F | 1694000 | ACTUAL COST |