Orcas Power & Light Cooperative
- Assets
- $117.9m
- Revenue
- $36.3m
- Investments
- $1.6m
- Employees
- 51
- Location
- Eastsound, WA
- Founding
- 12/1937
- Data as of
- 12/2022
- EIN
- 91-0348358
Organization Overview
Orcas Power & Light Cooperative is located in Eastsound, 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, Orcas Power & Light Cooperative employed 51 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Orcas Power & Light Cooperative 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, Orcas Power & Light Cooperative generated $36.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $36.4m during the year ending 12/2022. While expenses have increased by 4.9% 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
THE COOPERATIVE SERVES ITS MEMBERS WITH SAFE, RELIABLE, COST EFFECTIVE, AND ENVIRONMENTALLY SENSITIVE UTILITY SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRICAL SERVICE TO MEMBERS WHICH INCLUDES AN ENERGY CONSERVATION PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Richard Christmas Director | Trustee | 4 | $20,837 |
Vincent Dauciunas Board President | OfficerTrustee | 15 | $28,384 |
Mark Madsen Director | Trustee | 2 | $17,115 |
Thomas Osterman Director | Trustee | 5 | $16,340 |
Brian Silverstein Board Secretary | OfficerTrustee | 3 | $4,688 |
Jeffrey Struthers Director | Trustee | 2 | $4,688 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Rainshadow Solar & Energy Solutions Solar System Construction | 12/30/22 | $1,250,339 |
Quantum Construction Inc Excavation/construction Services | 12/30/22 | $453,647 |
Olympic Electric Co Inc Excavation/construction Services | 12/30/22 | $1,224,999 |
Shcrock Construction Inc Excavation/construction Services | 12/30/22 | $643,907 |
Sage Building Solutions Inc Excavation/construction Services | 12/30/22 | $415,775 |
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 | $35,679,624 |
| Investment income | $340,488 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $110,200 |
| Net Gain/Loss on Asset Sales | $34,968 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $36,286,957 |
| 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 | $3,987,816 |
| Compensation of current officers, directors, key employees. | $1,122,832 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $1,873,014 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $1,958,756 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,416,107 |
| Insurance | $0 |
| All other expenses | $3,570,313 |
| Total functional expenses | $36,369,556 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,319,169 |
| Savings and temporary cash investments | $8,369,111 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,240,612 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,766,502 |
| Prepaid expenses and deferred charges | $733,741 |
| Net Land, buildings, and equipment | $101,507,356 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,551,416 |
| Investments—program-related | -$11,173,486 |
| Intangible assets | $39,609 |
| Other assets | $4,556,746 |
| Total assets | $117,910,776 |
| Accounts payable and accrued expenses | $3,357,567 |
| 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 | $69,182,615 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $380,720 |
| Total liabilities | $72,920,902 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $58,380 |
| Paid-in or capital surplus, or land, building, or equipment fund | $10,997,394 |
| Retained earnings, endowment, accumulated income, or other funds | $33,934,100 |
| Total liabilities and net assets/fund balances | $117,910,776 |
Grants Awarded
Over the last fiscal year, Orcas Power & Light Cooperative has awarded $114,826 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
SAN JUAN ISLANDS CONSERVATION DISTRICT PURPOSE: ENERGY EFFICIENCY & CONSERVATION PROGRAMS | $104,826 |
SAN JUAN ISLAND COMMUNITY FOUNDATION PURPOSE: GRANT MATCH '20 | $10,000 |