Lakeview Light & Power
- Assets
- $50.1m
- Revenue
- $24.2m
- Investments
- $11.9m
- Employees
- 28
- Location
- Lakewood, WA
- Founding
- 02/1932
- Data as of
- 12/2021
- EIN
- 91-0287923
Organization Overview
Lakeview Light & Power is located in Lakewood, WA. The organization was established in 1932. 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, Lakeview Light & Power employed 28 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lakeview Light & Power 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, Lakeview Light & Power generated $24.2m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.5%) each year. All expenses for the organization totaled $16.5m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.3%) per year over the past 7 years. 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
PROVIDE RELIABLE AND EFFICIENT ELECTRIC UTILITY SERVICE TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPANY SOLD ELECTRICAL POWER TO APPROXIMATELY 2,798 USER MEMBERS DURING THE YEAR ENDED DECEMBER 31, 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Hadman Operations Superintendent | 40 | $173,171 | |
John Devore General Manager | Officer | 40 | $171,333 |
Timothy Johnston Foreman | 40 | $153,010 | |
Anthony Rusin It/substation Technician | 40 | $150,066 | |
Kelly Butts Superintendent | 40 | $137,201 | |
Jon Geiselman Lineman/meter Tech | 40 | $133,076 |
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 | $23,906,996 |
| Investment income | $87,601 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $45,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,172,277 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $358,156 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $860,131 |
| Pension plan accruals and contributions | $307,827 |
| Other employee benefits | $518,808 |
| Payroll taxes | $251,911 |
| 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 | $138,865 |
| Advertising and promotion | $0 |
| Office expenses | $128,485 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $66,889 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $30,613 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,169,950 |
| Insurance | $80,983 |
| All other expenses | $156,477 |
| Total functional expenses | $16,452,603 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,100 |
| Savings and temporary cash investments | $17,209,592 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,903,555 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,497,028 |
| Prepaid expenses and deferred charges | $152,820 |
| Net Land, buildings, and equipment | $15,392,246 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $11,857,846 |
| Investments—program-related | $95,761 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $50,109,948 |
| Accounts payable and accrued expenses | $1,653,717 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,653,717 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $48,456,231 |
| Total liabilities and net assets/fund balances | $50,109,948 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
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 |
Salem Electric Salem, OR | $70,962,090 | $31,105,436 |
Lane Electric Cooperative Inc Eugene, OR | $79,862,417 | $28,132,650 |
Barrow Utilities & Electric Coopera Barrow, AK | $51,955,747 | $30,800,786 |
Peak Reliability Vancouver, WA | $0 | $48,178 |