2011-10-27T09:50:20-05:00 2010-12-31 MOSS ADAMS LLP 805 SW BROADWAY 1200 PORTLAND OR 97205 990 2010-01-01 990346113 KAUAI ISLAND UTILITY COOPERATIVE KAUA 8082464300 4463 PAHEE ST NO 1 LIHUE KAUAI HI 967662000 KARISSA JONAS 8002468278 2011-10-13 1 WENDY CAMPOS 5032421447 2010 2016-03-07 17:11:31Z DAVID BISSELL 4463 PAHEE ST NO 1 LIHUE KAUAI HI 967662000 155974294 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. 9 9 167 0 41617 33415 0 0 129651132 155249311 825113 637917 89249 48702 130565494 155935930 0 0 0 0 867487 970644 0 0 0 124124250 145009164 124991737 145979808 5573757 9956122 284450734 288143960 232182357 227225405 52268377 60918555 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 36,000 ACTIVE SERVICES AT YEAR END ON THE ISLAND OF KAUAI. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 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 1 0 1 127 0 1 167 1 1 1 0 0 0 0 155095101 2319811 0 X 9 9 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 HI X X KARISSA JONAS FINANCIAL VP & CFO 8082468278 4463 PAHEE STREET STE 1 LIHUE KAUAI HI 967662000 JAN TENBRUGGENCATE 25.00 X 14120 0 0 PETER YUKIMURA 15.00 X X 17978 0 0 DAVID IHA 10.00 X X 18360 0 0 TEOFILO TACBIAN 30.00 X X 25706 0 0 CAROL BAIN 15.00 X 15267 0 0 ALLAN SMITH 14.00 X X 17008 0 0 STEVE RAPOZO 20.00 X 19516 0 0 BENJAMIN SULLIVAN 12.00 X 14688 0 0 STEWART BURLEY 15.00 X 15074 0 0 RANDALL HEE 65.00 X 234378 0 69535 DAVID BISSELL 60.00 X 209005 0 37077 JOHN LEAVITT 50.00 X 190394 0 59073 MICHAEL YAMANE 50.00 X 163522 0 51285 CAREY KOIDE 50.00 X 158124 0 51023 KARISSA JONAS 50.00 X 153409 0 31672 BARBARA NAGAMINE 50.00 X 147002 0 122386 RUSS SANTIAGO 47.00 X 151176 0 68257 1564727 0 490308 50 0 1 0 MORIHARA LAU & FONG LLP 814 BISHOP ST STE 400 HONOLULU HI 96813 REGULATORY ATTORNEY 1069381 KASOWITZ BENSON TORRES & FRIEDMAN LLP 1633 BROADWAY NEW YORK NY 10019 ENVIRONMENTAL ATTORNEY 771614 KAUAI ENERGY PARTNERS LLC 195 NASSAU STREET 12 PRINCETON NJ 08542 SPEC USED OIL SUPPLIER 725774 BEACHSIDE ROOFING LLC 1870A LELEIONA STREET LUHUE HI 96766 BIPV ROOFING CONTRACTOR 667614 EBBIN MOSER & SKAGGS LLP 550 MONTGOMERY STREET STE 900 SAN FRANCISCO CA 94111 ENVIRONMENTAL ATTORNEY 243388 8 SALES OF ELECTRICITY 221000 155095101 155095101 SERVICE FEES 221000 154210 154210 155249311 637917 637917 77349 38364 38985 38985 38985 PATRONAGE ALLOCATIONS 221000 40015 40015 MISCELLANEOUS SERVICE 221000 -30298 -32930 2632 9717 155935930 155256396 41617 637917 970644 34559 9061322 14595414 UNRELATED BUSINESS TAX 2214 POWER COST 86812634 ADMINISTRATIVE 13146797 TAXES 13045649 CUSTOMER ACCOUNTS 2675415 5635160 145979808 2857100 6034685 51709 51807 10371736 9269878 13320441 14217397 1196222 954729 462665817 221234481 241740509 241431336 1261484 1246742 13651533 14937386 284450734 288143960 14460882 16666830 203696110 197781589 14025365 12776986 232182357 227225405 X 391 409 0 0 52267986 60918146 52268377 60918555 284450734 288143960 X 9956122 -1305944 X X 0 1 1 X 0 10050023 10050023 35201077 16360957 18840120 405625005 204873524 200751481 11789712 11789712 241431336 ACCRUED UTILITY REVENUES 8167434 SPECIAL DEPOSITS 9710 REGULATORY ASSETS 4499751 PRELIMINARY SURVEY & INVESTIGATION CHARGES 1419628 OTHER DEFERRED CHARGES 415912 ENERGY RATE ADJUSTMENT CLAUSE 424951 14937386 OTHER CURRENT LIABILITIES 119278 CUSTOMER DEPOSITS 1048833 POST RETIREMENTS BENEFIT OBLIGATIONS 1980600 REGULATORY LIABILITIES 5042768 CUSTOMER ADVANCES ON CONSTRUCTION 3664968 ECONOMIC DEVELOPMENT 920539 12776986 155935930 145979808 9956122 150866 -1456810 -1305944 8650178 156086796 150866 150866 155935930 0 155935930 145979808 0 145979808 0 145979808 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: 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. EFFECTIVE JANUARY 1, 2009 THE COOPERATIVE ADOPTED FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10, RELATING TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2010 AND 2009, 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 2007. CHANGE IN OTHER EQUITY $ 59,946 CHANGE IN MEMBERSHIPS 18 RETIREMENT OF CAPITAL CREDITS (1,516,774) TOTAL OTHER ADJUSTMENTS (1,456,810) 1 X X X 0 0 0 RANDALL HEE 230340 0 0 0 4038 0 53733 0 15802 0 303913 0 0 0 DAVID BISSELL 173828 0 34656 0 521 0 20816 0 16261 0 246082 0 0 0 JOHN LEAVITT 152733 0 31999 0 5662 0 47867 0 11206 0 249467 0 0 0 MICHAEL YAMANE 134641 0 28470 0 411 0 35754 0 15531 0 214807 0 0 0 CAREY KOIDE 130315 0 27424 0 385 0 44503 0 6520 0 209147 0 0 0 KARISSA JONAS 126239 0 26913 0 257 0 15193 0 16479 0 185081 0 0 0 BARBARA NAGAMINE 121904 0 24051 0 1047 0 111180 0 11206 0 269388 0 0 0 RUSS SANTIAGO 123509 0 26630 0 1037 0 52992 0 15265 0 219433 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 KIUC HAS 40,917 MEMBERS. OUR MEMBERSHIP FEE IS $.01, SO OUR TOTAL MEMBERSHIP FEES ARE $409.17. 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 PREPARERS, 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 THEIR 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 150,866. CHANGE IN OTHER EQUITY 59,946. CHANGE IN MEMBERSHIPS 18. RETIREMENT OF CAPITAL CREDITS -1,516,774. TOTAL TO FORM 990, PART XI, LINE 5: -1,305,944. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES IN PROCEDURE FROM THE PRIOR YEAR. KIUC CHARITABLE FOUNDATION 4463 PAHEE ST STE 1 LIHUE HI 967662000 510592268 FOUNDATION HI SEEKING 501(C)(3) PENDING KAUAI ISLAND UTILITY COOPERATIVE 1 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 KIUC CHARITABLE FOUNDATION B 71435 ACTUAL AMOUNT TRANSFERRED KIUC CHARITABLE FOUNDATION M 0 NOMINAL