Clearwater Power Company
- Assets
- $71.9m
- Revenue
- $22.9m
- Investments
- $3.2m
- Employees
- 51
- Location
- Lewiston, ID
- Founding
- 03/1938
- Data as of
- 12/2021
- EIN
- 82-0108745
Organization Overview
Clearwater Power Company is located in Lewiston, ID. The organization was established in 1938. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Clearwater Power Company employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clearwater Power Company is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2021, Clearwater Power Company generated $22.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $22.9m during the year ending 12/2021. While expenses have increased by 2.9% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
CLEARWATER POWER COMPANY'S MISSION IS TO PROVIDE ITS COOPERATIVE MEMBERS/CONSUMERS WITH SAFE, RELIABLE, COST-BASED ENERGY AND RELATED SERVICES. THE COOPERATIVE'S SIGNIFICANT ACTIVITY IS TO PROVIDE ELECTRIC POWER DISTRIBUTION TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC COOPERATIVE-PROVIDES ELECTRIC AND RELATED SERVICES TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
K David Hagen Ceo/general Mgr | Officer | 55 | $216,000 |
Clifford Miller Foreman | 49 | $182,470 | |
Kevin Cromer Foreman | 50 | $180,405 | |
Bob Pierce Chief Operating Officer | 50 | $171,919 | |
Chris Floch Dist Serviceman | 51 | $171,385 | |
Matt Moore Foreman | 46 | $166,004 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Rural Telecommunications Wildblue Monthly Service | 12/30/21 | $320,811 |
National Information Solutions Cooperative Tech Support | 12/30/21 | $211,581 |
Summit Utility Contractors Llc Plowing/exca | 12/30/21 | $266,624 |
Alamon Inc Pole Testing | 12/30/21 | $129,945 |
Trees Llc Tree Trimming | 12/30/21 | $361,959 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $22,629,383 |
| Investment income | $103,798 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $30,398 |
| Net Gain/Loss on Asset Sales | $20,101 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,417 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,901,146 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,347,351 |
| Compensation of current officers, directors, key employees. | $1,093,334 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,354,075 |
| Pension plan accruals and contributions | $1,111,181 |
| Other employee benefits | $976,553 |
| Payroll taxes | $364,191 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,129,713 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,684,564 |
| Insurance | $0 |
| All other expenses | -$6,674,193 |
| Total functional expenses | $22,901,146 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,453,981 |
| Savings and temporary cash investments | $301,067 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,333,335 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,192,029 |
| Prepaid expenses and deferred charges | $323,406 |
| Net Land, buildings, and equipment | $59,546,563 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,247,700 |
| Investments—program-related | $2,693,186 |
| Intangible assets | $0 |
| Other assets | $850,082 |
| Total assets | $71,941,349 |
| Accounts payable and accrued expenses | $1,294,827 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $36,055,659 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,423,484 |
| Total liabilities | $39,773,970 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $2,491,195 |
| Retained earnings, endowment, accumulated income, or other funds | $29,676,184 |
| Total liabilities and net assets/fund balances | $71,941,349 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Dixie Escalante Rural Beryl, UT | $171,660,221 | $52,285,597 |
Wells Rural Electric Co Wells, NV | $65,645,854 | $46,093,733 |
Benton Rural Electric Association Prosser, WA | $100,163,870 | $44,244,946 |
Consumers Power Inc Philomath, OR | $143,908,796 | $44,110,626 |
Big Bend Electric Cooperative Inc Ritzville, WA | $77,547,194 | $40,611,913 |
Coos-Curry Electric Cooperative Inc Port Orford, OR | $114,567,418 | $40,713,862 |
Mt Wheeler Power Inc Ely, NV | $62,442,226 | $39,954,685 |
Yellowstone Valley Electric Cooperative Inc Huntley, MT | $80,881,351 | $39,379,515 |
Midstate Electric Cooperative Inc La Pine, OR | $76,704,845 | $36,643,813 |
Orcas Power & Light Cooperative Eastsound, WA | $113,042,035 | $35,371,006 |
Columbia Rural Electric Association Inc Walla Walla, WA | $105,545,364 | $36,917,429 |
Fall River Rural Electric Cooperative Inc Ashton, ID | $121,834,255 | $35,032,975 |