Kodiak Electric Association Inc
- Assets
- $182.6m
- Revenue
- $26.4m
- Investments
- $69.9k
- Employees
- 45
- Location
- Kodiak, AK
- Founding
- 11/1943
- Data as of
- 12/2023
- EIN
- 92-0010172
Organization Overview
Kodiak Electric Association Inc is located in Kodiak, AK. The organization was established in 1943. 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 12/2023, Kodiak Electric Association Inc employed 45 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kodiak 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 12/2023, Kodiak Electric Association Inc generated $26.4m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $24.2m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
RURAL ELECTRIC COOPERATIVE, PROVIDES GENERATION, TRANSMISSION, DISTRIBUTION, AND SALES OF ELECTRICITY TO APPROXIMATELY 6,000 METERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC COOPERATIVE, SALES, AND GENERATION OF ELECTRICITY TO APPROXIMATELY 6,000 METERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darron Scott President/ceo | Officer | 40 | $357,593 |
Daniel Menth Manager Of Finance & Admin. | Officer | 40 | $201,743 |
Dustin Egdorf Operations Manager | 40 | $192,765 | |
Shane Lotzer Line Foreman | 51 | $212,973 | |
Jefferson Miranda Lineman | 49.5 | $182,213 | |
Kevin Cornett Power Generation Technician | 48 | $170,299 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Summit Tree Service Llc Tree Trimming | 12/30/23 | $255,787 |
Winco Inc Helicopter Support | 12/30/23 | $243,140 |
Ge Verona International Turbine Support | 12/30/23 | $125,985 |
Electric Power Constructors Inc Coordination Study | 12/30/23 | $125,936 |
Survalent Technology Inc Software Support | 12/30/23 | $108,509 |
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 | $26,220,652 |
| Investment income | $89,795 |
| 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 | $26,382,447 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,810 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $898,188 |
| 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 | $214,235 |
| Advertising and promotion | $1,307 |
| Office expenses | $156,420 |
| Information technology | $109,181 |
| 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 | $50,648 |
| Interest | $3,619,437 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,485,576 |
| Insurance | $0 |
| All other expenses | $541,450 |
| Total functional expenses | $24,185,706 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,919,075 |
| Savings and temporary cash investments | $862,185 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,876,954 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,568,711 |
| Prepaid expenses and deferred charges | $1,635,257 |
| Net Land, buildings, and equipment | $167,576,867 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $69,873 |
| Investments—program-related | $3,097,984 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $182,606,906 |
| Accounts payable and accrued expenses | $2,986,911 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $46,578,872 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $58,852,945 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,142,226 |
| Total liabilities | $110,560,954 |
| 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 | $72,045,952 |
| Total liabilities and net assets/fund balances | $182,606,906 |