Lakeview Light & Power
- Assets
- $57.1m
- Revenue
- $25.2m
- Investments
- $14.5m
- Employees
- 33
- Location
- Lakewood, WA
- Founding
- 02/1932
- Data as of
- 12/2022
- 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 12/2022, Lakeview Light & Power employed 33 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 12/2022, Lakeview Light & Power generated $25.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $17.1m during the year ending 12/2022. While expenses have increased by 0.3% per year over the past 8 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
2022
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 2,819 USER MEMBERS DURING THE YEAR ENDED DECEMBER 31, 2022.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Avery Johnson Treasurer | OfficerTrustee | 1 | $9,950 |
Robert Estrada Director | Trustee | 1 | $6,900 |
Alan Hart President | OfficerTrustee | 1 | $14,650 |
Linda Mcdermott Vice President | OfficerTrustee | 1 | $12,600 |
Tom Mcdonald Secretary | Trustee | 1 | $10,650 |
John Devore General Manager | Officer | 40 | $198,647 |
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 | $24,927,074 |
| Investment income | $160,535 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $25,225,871 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $7,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $410,364 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $789,450 |
| Pension plan accruals and contributions | $122,090 |
| Other employee benefits | $298,801 |
| Payroll taxes | $125,178 |
| 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 | $147,525 |
| Advertising and promotion | $0 |
| Office expenses | $139,523 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $76,252 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $59,416 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,077,767 |
| Insurance | $82,137 |
| All other expenses | $206,694 |
| Total functional expenses | $17,114,537 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,764 |
| Savings and temporary cash investments | $19,193,593 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,942,997 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,815,094 |
| Prepaid expenses and deferred charges | $126,718 |
| Net Land, buildings, and equipment | $17,414,215 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $14,496,392 |
| Investments—program-related | $104,005 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $57,095,778 |
| Accounts payable and accrued expenses | $1,839,667 |
| 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 | $1,839,667 |
| 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 | $55,256,111 |
| Total liabilities and net assets/fund balances | $57,095,778 |