Salem Electric
- Assets
- $71.0m
- Revenue
- $31.1m
- Investments
- $0.0
- Employees
- 55
- Location
- Salem, OR
- Founding
- 06/1942
- Data as of
- 12/2021
- EIN
- 93-0272945
Organization Overview
Salem Electric is located in Salem, OR. 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, Salem Electric employed 55 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Salem 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 12/2021, Salem Electric generated $31.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $31.1m during the year ending 12/2021. While expenses have increased by 2.5% 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
PROVIDE ELECTRIC SERVICE TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELECTRIC SALES - 20,631
HEAT PUMP PROGRAM - 95 PROJECTS COMPLETED. THIS PROGRAM HELPS RESIDENTIAL CUSTOMERS INSTALL ENERGY EFFICIENT HEAT PUMP SYSTEMS IN THEIR HOMES.
ENERGY SMART DESIGN PROGRAM - 23 PROJECTS COMPLETED. THIS PROGRAM HELPS COMMERCIAL CUSTOMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Schacher General Manager | Officer | 40 | $265,803 |
Shannon Rockne Engineering Technician | 40 | $250,233 | |
Jonathan Phillips Engineering And Operations Manager | Officer | 40 | $196,082 |
Edward Johnson Apparatus Technician | 40 | $194,272 | |
Christopher Krieck Administrative Services Manager | Officer | 40 | $182,216 |
Jon Charnetzki Foreman | 40 | $180,999 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Magnum Power Llc Substation Construction | 12/30/21 | $525,852 |
A-1 Tree Solutions Llc Line Clearance/tree Trimming | 12/30/21 | $427,776 |
Bulls Eye Directional Boring Inc Boring Services | 12/30/21 | $250,127 |
Garten Services Inc Mailing/bill Stuffing Services | 12/30/21 | $193,759 |
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 | $31,124,404 |
| Investment income | $64,507 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$83,475 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $31,105,436 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| Grants and other assistance to domestic individuals. | $198,671 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,450,861 |
| Compensation of current officers, directors, key employees. | $839,299 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $601,519 |
| Other employee benefits | $0 |
| Payroll taxes | $489,938 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $34,511 |
| Fees for services: Accounting | $30,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $18,392 |
| Office expenses | $652,109 |
| Information technology | $161,519 |
| Royalties | $0 |
| Occupancy | $176,519 |
| Travel | $51,864 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $63,756 |
| Interest | $173,541 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,038,531 |
| Insurance | $45,764 |
| All other expenses | $2,296,382 |
| Total functional expenses | $31,105,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,748 |
| Savings and temporary cash investments | $13,078,228 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,056,552 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,019,090 |
| Prepaid expenses and deferred charges | $695,358 |
| Net Land, buildings, and equipment | $51,566,434 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $388,680 |
| Total assets | $70,962,090 |
| Accounts payable and accrued expenses | $16,175,759 |
| 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 | $4,700,185 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,007,435 |
| Total liabilities | $21,883,379 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $191 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $49,078,520 |
| Total liabilities and net assets/fund balances | $70,962,090 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Inland Power & Light Co Spokane, WA | $298,221,337 | $90,911,502 |
Breakthrough Energy Foundation Kirkland, WA | $272,263,093 | $53,009,802 |
Central Electric Cooperative Inc Redmond, OR | $242,542,165 | $105,052,324 |
Oregon Trail Electric Consumers Cooperative Inc Baker City, OR | $131,875,952 | $59,383,158 |
Peninsula Light Company Inc Gig Harbor, WA | $206,412,044 | $64,241,054 |
Kootenai Electric Cooperative Inc Hayden, ID | $200,587,122 | $58,518,255 |
Wells Rural Electric Co Wells, NV | $65,645,854 | $46,093,733 |
Benton Rural Electric Association Prosser, WA | $100,163,870 | $44,244,946 |
Consumers Power Inc Philomath, OR | $143,908,796 | $44,110,626 |
Big Bend Electric Cooperative Inc Ritzville, WA | $77,547,194 | $40,611,913 |
Coos-Curry Electric Cooperative Inc Port Orford, OR | $114,567,418 | $40,713,862 |
Mt Wheeler Power Inc Ely, NV | $62,442,226 | $39,954,685 |