Salem Electric
- Assets
- $74.8m
- Revenue
- $33.2m
- Investments
- $0.0
- Employees
- 47
- Location
- Salem, OR
- Founding
- 06/1942
- Data as of
- 12/2022
- 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 12/2022, Salem Electric employed 47 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 12/2022, Salem Electric generated $33.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.6% each year. All expenses for the organization totaled $33.2m during the year ending 12/2022. While expenses have increased by 3.6% per year over the past 4 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
PROVIDE ELECTRIC SERVICE TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ELECTRIC SALES - 20,674
HEAT PUMP PROGRAM - 122 PROJECTS COMPLETED. THIS PROGRAM HELPS RESIDENTIAL CUSTOMERS INSTALL ENERGY EFFICIENT HEAT PUMP SYSTEMS IN THEIR HOMES.
WEATHERWISE PROGRAM - 35 PROJECTS COMPLETED. THIS PROGRAM HELPS RESIDENTIAL MEMBERS WEATHERIZE THEIR HOMES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anthony Schacher General Manager | Officer | 40 | $295,650 |
Jonathan Phillips Engineering And Operations Manager | Officer | 40 | $220,979 |
Michael Richman Information Technology Manager | 40 | $201,164 | |
Christopher Krieck Administrative Services Manager | Officer | 40 | $198,970 |
Zachary Dillingham Foreman | 40 | $175,575 | |
Jacob Knudsen Member Services Manager | 40 | $178,834 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cooperative Building Solutions Architectural Services | 12/30/22 | $619,458 |
A-1 Tree Solutions Llc Line Clearance/tree Trimming | 12/30/22 | $442,856 |
Dj's Electrical Inc Fiber Optic Cable Installation | 12/30/22 | $282,364 |
Garten Services Inc Mailing/bill Stuffing Services | 12/30/22 | $179,980 |
Bulls Eye Directional Boring Inc Boring Services | 12/30/22 | $210,129 |
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 | $32,999,938 |
| Investment income | $132,500 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $26,141 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $33,158,579 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $15,000 |
| Grants and other assistance to domestic individuals. | $199,711 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,855,086 |
| Compensation of current officers, directors, key employees. | $895,217 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $696,478 |
| Other employee benefits | $0 |
| Payroll taxes | $500,981 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $35,074 |
| Fees for services: Accounting | $31,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $24,113 |
| Office expenses | $620,231 |
| Information technology | $173,102 |
| Royalties | $0 |
| Occupancy | $187,070 |
| Travel | $137,923 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $93,780 |
| Interest | $212,910 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,085,612 |
| Insurance | $49,937 |
| All other expenses | $2,048,845 |
| Total functional expenses | $33,158,579 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $714,622 |
| Savings and temporary cash investments | $13,841,609 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,996,526 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,394,115 |
| Prepaid expenses and deferred charges | $816,160 |
| Net Land, buildings, and equipment | $53,013,525 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $979,291 |
| Total assets | $74,755,848 |
| Accounts payable and accrued expenses | $13,019,888 |
| 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 | $5,884,189 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $928,636 |
| Total liabilities | $19,832,713 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $190 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $54,922,945 |
| Total liabilities and net assets/fund balances | $74,755,848 |