Matanuska Electric Association Inc
- Assets
- $634.4m
- Revenue
- $159.6m
- Investments
- $0.0
- Employees
- 246
- Location
- Palmer, AK
- Founding
- 07/1942
- Data as of
- 12/2021
- EIN
- 92-0007954
Organization Overview
Matanuska Electric Association Inc is located in Palmer, AK. The organization was established in 1942. 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, Matanuska Electric Association Inc employed 246 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Matanuska Electric Association Inc 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, Matanuska Electric Association Inc generated $159.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $159.6m during the year ending 12/2021. While expenses have increased by 1.3% 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
ENERGY SALES TO 68,443 MEMBER CUSTOMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENERGY SALES TO 68,443 MEMBER CUSTOMERS
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony M Izzo Chief Executive Officer | Officer | 60 | $513,148 |
Edward M Jenkin Chief Operations Officer | 54 | $264,303 | |
Matthew J Reisterer Chief Financial Officer | Officer | 50 | $257,104 |
David W Roby Foreman Lineman | 59 | $242,737 | |
Wyatt A Schmiege Subforeman Lineman | 59 | $224,991 | |
David W Pease In-House Counsel | 45 | $223,225 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Electric Power Constructors Inc Electrical Construction | 12/30/21 | $1,737,838 |
Abb Inc Electrical Construction | 12/30/21 | $1,070,964 |
Northern Powerline Constructors Inc Electrical Construction | 12/30/21 | $5,210,417 |
Cadence General Llc Electrical Construction | 12/30/21 | $1,296,833 |
Alaska Line Builders Llc Electrical Construction | 12/30/21 | $3,911,804 |
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 | $159,021,015 |
| Investment income | $124,039 |
| 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 | $159,633,412 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $12,999,541 |
| Compensation of current officers, directors, key employees. | $1,136,711 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| 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 | $19,112,867 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,489,826 |
| Insurance | $0 |
| All other expenses | $7,528,148 |
| Total functional expenses | $159,633,412 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,368 |
| Savings and temporary cash investments | $10,905,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,233,376 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $16,885,362 |
| Prepaid expenses and deferred charges | $5,149,193 |
| Net Land, buildings, and equipment | $560,273,492 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $17,844,262 |
| Intangible assets | $0 |
| Other assets | $12,135,569 |
| Total assets | $634,431,622 |
| Accounts payable and accrued expenses | $10,596,670 |
| 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 | $427,637,485 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,102,415 |
| Total liabilities | $450,336,570 |
| 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 | $171,095,511 |
| Retained earnings, endowment, accumulated income, or other funds | $12,999,541 |
| Total liabilities and net assets/fund balances | $634,431,622 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Matanuska Electric Association Inc has recieved totaling $26,000.
| Awarding Organization | Amount |
|---|---|
Alaska Rural Electric Cooperative Association Educational Foundation Anchorage, AK PURPOSE: SCHOLARSHIP PROGRAM | $13,000 |
Alaska Rural Electric Cooperative Association Educational Foundation Anchorage, AK PURPOSE: SCHOLARSHIP PROGRAM | $13,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Chugach Electric Association Inc Anchorage, AK | $1,796,363,282 | $354,827,268 |
Golden Valley Electric Assn Inc Fairbanks, AK | $748,489,323 | $261,622,497 |
Matanuska Electric Association Inc Palmer, AK | $634,431,622 | $159,633,412 |
Homer Electric Association Inc Homer, AK | $266,114,703 | $113,967,382 |
Inland Power & Light Co Spokane, WA | $298,221,337 | $90,911,502 |
Breakthrough Energy Foundation Kirkland, WA | $272,263,093 | $53,009,802 |
Peninsula Light Company Inc Gig Harbor, WA | $206,412,044 | $64,241,054 |
Alaska Village Electric Cooperative Inc Anchorage, AK | $149,755,137 | $62,136,237 |
Benton Rural Electric Association Prosser, WA | $100,163,870 | $44,244,946 |
Big Bend Electric Cooperative Inc Ritzville, WA | $77,547,194 | $40,611,913 |
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 |