Kodiak Electric Association Inc
- Assets
- $193.4m
- Revenue
- $25.3m
- Investments
- $54.1k
- Employees
- 36
- Location
- Kodiak, AK
- Founding
- 11/1943
- Data as of
- 12/2021
- 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 12/2021, Kodiak Electric Association Inc employed 36 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 12/2021, Kodiak Electric Association Inc generated $25.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $22.8m during the year ending 12/2021. 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
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 | $314,090 |
Lloyd Shanley Manager Of Power Generation | 40 | $203,757 | |
Michael Bryant Power Generation Technician | 55 | $189,780 | |
Ronald Sternberg Maint. Operator Electrician | 51 | $183,503 | |
Daniel Menth Manager Of Finance & Admin. | Officer | 40 | $176,923 |
Dustin Egdorf Manager Of Operations | 40 | $168,809 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Carlos Tree Services Inc Tree Trimming | 12/30/21 | $135,758 |
Nisc Software Provider | 12/30/21 | $114,333 |
General Electric International Inc Wind Turbine Support | 12/30/21 | $188,776 |
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 | $25,237,859 |
| Investment income | $33,174 |
| 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 | $25,349,033 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,379 |
| 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. | $769,860 |
| 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 | $163,542 |
| Advertising and promotion | $2,672 |
| Office expenses | $132,769 |
| Information technology | $101,944 |
| 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 | $4,066,422 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,392,112 |
| Insurance | $0 |
| All other expenses | $563,838 |
| Total functional expenses | $22,837,698 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $423,369 |
| Savings and temporary cash investments | $202,184 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,245,956 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,184,542 |
| Prepaid expenses and deferred charges | $1,623,413 |
| Net Land, buildings, and equipment | $182,147,396 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $54,054 |
| Investments—program-related | $2,473,980 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $193,354,894 |
| Accounts payable and accrued expenses | $2,888,813 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $52,742,475 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $69,059,667 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $373,647 |
| Total liabilities | $125,064,602 |
| 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 | $68,290,292 |
| Total liabilities and net assets/fund balances | $193,354,894 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Kodiak Electric Association Inc has recieved totaling $17,796.
| Awarding Organization | Amount |
|---|---|
Alaska Rural Electric Cooperative Association Educational Foundation Anchorage, AK PURPOSE: SCHOLARSHIP PROGRAM | $17,796 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
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 |
Barrow Utilities & Electric Coopera Barrow, AK | $51,955,747 | $30,800,786 |
Peak Reliability Vancouver, WA | $0 | $48,178 |
Copper Valley Electric Association Inc Glennallen, AK | $79,168,354 | $26,151,233 |
Kodiak Electric Association Inc Kodiak, AK | $193,354,894 | $25,349,033 |
Elmhurst Mutual Power And Light Co Tacoma, WA | $32,294,963 | $19,833,230 |
Lakeview Light & Power Lakewood, WA | $50,109,948 | $24,172,277 |
Parkland Light & Water Company Tacoma, WA | $42,709,754 | $15,177,864 |
Tanner Electric North Bend, WA | $38,780,092 | $13,296,092 |