Tanner Electric
- Assets
- $39.2m
- Revenue
- $13.1m
- Investments
- $0.0
- Employees
- 22
- Location
- North Bend, WA
- Founding
- 12/1937
- Data as of
- 12/2022
- EIN
- 91-0330490
Organization Overview
Tanner Electric is located in North Bend, WA. The organization was established in 1937. 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, Tanner Electric employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tanner Electric 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, Tanner Electric generated $13.1m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.2% each year. All expenses for the organization totaled $12.2m during the year ending 12/2022. While expenses have increased by 1.4% per year over the past 4 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
TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 5,223 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Hodge President | OfficerTrustee | 4 | $11,900 |
Carol Paschal Treasurer | OfficerTrustee | 4.9 | $5,450 |
John Saatela Director | Trustee | 3 | $4,925 |
Steve Nicholes Director | Trustee | 1.5 | $3,275 |
Roger Guay Vice President | OfficerTrustee | 2.8 | $4,175 |
Susan Serrette-Egan Secretary | OfficerTrustee | 1 | $4,100 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Joaquin's Tree Expert Tree Trimming | 12/30/22 | $173,158 |
Joel Merkel Legal Services | 12/30/22 | $111,234 |
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 | $12,938,861 |
| Investment income | $44,618 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,354 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $13,148,895 |
| 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 | $300,000 |
| Compensation of current officers, directors, key employees. | $939,641 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,092,988 |
| Pension plan accruals and contributions | $68,159 |
| Other employee benefits | $145,240 |
| Payroll taxes | $122,401 |
| 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 | $956,346 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,688,485 |
| Insurance | $0 |
| All other expenses | $152,745 |
| Total functional expenses | $12,188,094 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $567,699 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,582,559 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,034,327 |
| Prepaid expenses and deferred charges | $90,174 |
| Net Land, buildings, and equipment | $32,542,141 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,173,592 |
| Intangible assets | $0 |
| Other assets | $204,813 |
| Total assets | $39,195,305 |
| Accounts payable and accrued expenses | $1,299,308 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $2,726 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $22,752,747 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $694,761 |
| Total liabilities | $24,749,542 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $23,290 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $14,422,473 |
| Total liabilities and net assets/fund balances | $39,195,305 |