2024-11-12T12:45:33-06:00 2023-12-31 910189318 MOSS ADAMS LLP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2023-01-01 910348358 ORCAS POWER & LIGHT COOPERATIVE ORCA 3603763500 183 MOUNT BAKER RD EASTSOUND WA 982459413 J FOSTER HILDRETH GENERAL MANAGER 3603763500 2024-11-12 1 0 EMINA O CRESSWELL CPA P01217304 5097472600 2024-11-12 2023 2024-10-15 13:58:12Z J FOSTER HILDRETH 183 MOUNT BAKER RD EASTSOUND WA 982459413 39416329 0 X WWW.OPALCO.COM X 1937 WA THE COOPERATIVE SERVES ITS MEMBERS WITH SAFE, RELIABLE, COST EFFECTIVE, AND ENVIRONMENTALLY SENSITIVE UTILITY SERVICES. 7 7 48 0 0 0 0 71291 35679624 36507728 375456 686893 231877 2150417 36286957 39416329 0 10000 3987816 5625570 2995846 3163258 0 0 0 29385894 28772550 36369556 37571378 -82599 1844951 117910776 131163828 72920902 79853661 44989874 51310167 THE COOPERATIVE SERVES ITS MEMBERS WITH SAFE, RELIABLE, COST EFFECTIVE, AND ENVIRONMENTALLY SENSITIVE UTILITY SERVICES. 0 0 SALE OF ELECTRICAL SERVICE TO MEMBERS WHICH INCLUDES AN ENERGY CONSERVATION PROGRAM. 0 1 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 81 0 1 48 1 0 0 0 0 0 38180919 2036395 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X J FOSTER HILDRETH 3603763500 183 MOUNT BAKER RD EASTSOUND WA 982459413 RICHARD CHRISTMAS DIRECTOR (THRU 5/23) 10.00 X 10164 0 0 VINCENT DAUCIUNAS BOARD PRESIDENT 15.00 X X 29884 0 0 MARK MADSEN DIRECTOR 3.00 X 18751 0 0 CHUKWUMA ONWUNEME DIRECTOR 2.00 X 225 0 0 THOMAS OSTERMAN DIRECTOR 5.00 X 31561 0 0 BRIAN SILVERSTEIN BOARD SECRETARY 4.00 X X 5213 0 0 JEFFREY STRUTHERS DIRECTOR 3.50 X 5213 0 0 OLIVER WHITFIELD BOARD VP 4.00 X X 7702 0 0 J FOSTER HILDRETH GENERAL MANAGER 35.00 5.00 X 369516 76416 238423 NANCY LOOMIS MANAGER OF FINANCE & MEMBER SERVICES 40.00 X 207346 0 116635 RUSSELL GUERRY MANAGER OF ENGINEERING & OPERATIONS 40.00 X 218144 0 79557 CURTIS OLSON JOURNEYMAN/LINEMAN 55.90 X 194502 0 63084 DAN WATTERS FOREMAN 54.00 X 191959 0 54037 SEAN PARSONS SUBSTATION MAINTENANCE TECHNICIAN 56.50 X 200417 0 51742 LUKE FURBER FOREMAN 54.70 X 203138 0 57017 JORDAN ROSS JOURNEYMAN/LINEMAN 56.10 X 187284 0 43672 1881019 76416 704167 34 0 1 0 RAINSHADOW SOLAR & ENERGY SOLUTIONS PO BOX 541 ORCAS WA 98280 SOLAR SYSTEM CONSTRUCTION 1938627 SHCROCK CONSTRUCTION INC 4425 OCEAN BEACH HWY LONGVIEW WA 98632 EXCAVATION/CONSTRUCTION SERVICES 1536759 SWIFTWATER ELECTRIC AND SOLAR 7883 WESTSIDE ROAD CLE ELUM WA 98922 EXCAVATION/CONSTRUCTION SERVICES 714353 BARRON HEATING & AIR COND INC 5100 PACIFIC HIGHWAY 103 FERNDALE WA 98248 EXCAVATION/CONSTRUCTION SERVICES 649836 SAGE BUILDING SOLUTIONS INC PO BOX 744 LOPEZ ISLAND WA 98261 EXCAVATION/CONSTRUCTION SERVICES 649396 26 71291 71291 ELECTRIC ENERGY SALES 221000 36448697 36448697 POLE RENTAL INCOME 221000 59031 59031 36507728 686626 686626 110040 0 110040 110040 110040 267 0 267 267 267 UNAPPROPROPRIATED SUB EARNINGS 221000 1844951 1844951 PATRONAGE CAPITAL CREDITS 221000 107198 107198 OTHER INCOME 221000 88228 88228 2040377 39416329 38489074 0 855964 X 10000 5625570 1250067 1913191 120000 1906039 5396359 COST OF PURCHASED POWER 8571913 DISTRIBUTION EXPENSES 3796463 MAINTENANCE EXPENSES 3214269 TAXES 1610154 4157353 37571378 2319169 3449876 8369111 6652832 6240612 6247535 3766502 4544853 733741 750805 178607825 70933774 101507356 107674051 1551416 1651628 -11173486 -9331007 39609 33949 4556746 9489306 117910776 131163828 3357567 4260468 69182615 75105409 380720 487784 72920902 79853661 X 58380 58555 10997394 12188062 33934100 39063550 44989874 51310167 117910776 131163828 X 1844951 4475342 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1224147 1224147 5856672 3755361 2101311 171527006 67178413 104348593 107674051 INTEREST RECEIVABLE 49108 DEFERRED CHARGES 9440198 9489306 DEFERRED CREDITS 416413 CUSTOMER DEPOSITS 71371 487784 X PART X, LINE 2: THE COOPERATIVE IS EXEMPT FROM INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE, EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME, IF ANY. THE COOPERATIVE FOLLOWS FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) ACCOUNTING STANDARDS CODIFICATION (ASC) 740-10, INCOME TAXES, WHICH RELATES TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS. THE COOPERATIVE RECORDS UNCERTAIN TAX POSITIONS IF THE LIKELIHOOD THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION IS LESS THAN 50%. AS OF DECEMBER 31, 2023 AND 2022, THE COOPERATIVE HAD NO ACCRUED AMOUNTS RELATED TO UNCERTAIN TAX POSITIONS. INTEREST AND PENALTIES, IF ANY, ARE RECORDED AS INTEREST EXPENSE AND OTHER EXPENSE, RESPECTIVELY. 1 SAN JUAN ISLAND COMMUNITY FOUNDATION PO BOX 1352 FRIDAY HARBOR WA 98250 911648730 501(C)(3) 10000 0 2023 MATCHING CONTRIBUTION TO LOW-INCOME FUND 1 0 SCHEDULE I PART I LINE 2 THE ORGANIZATION MONITORS THE USE OF GRANT FUNDS BY ISSUING A MONTHLY REPORT WHICH IS REVIEWED BY THE GRANTS AND SCHOLARSHIPS TEAM IN THEIR QUARTERLY MEETINGS. THE ORGANIZATION MAINTAINS FILES CONTAINING DOCUMENTATION OF THE GRANTS APPROVED AND AWARDED. THE ORGANIZATION ALSO REQUIRES A MID-PROJECT UPDATE AND AN ENDING PROJECT SUMMARY. THIS IS HOW THE ORGANIZATION ENSURES THAT THE FUNDS ARE USED IN THE U.S. X X X X 0 1 0 J FOSTER HILDRETH GENERAL MANAGER 348479 0 15083 76416 5954 0 197952 0 40471 0 607939 76416 0 0 NANCY LOOMIS MANAGER OF FINANCE & MEMBER SERVICES 184897 0 19580 0 2869 0 84514 0 32121 0 323981 0 0 0 RUSSELL GUERRY MANAGER OF ENGINEERING & OPERATIONS 190446 0 20043 0 7655 0 40076 0 39481 0 297701 0 0 0 LUKE FURBER FOREMAN 128481 0 10720 0 63937 0 33552 0 23465 0 260155 0 0 0 CURTIS OLSON JOURNEYMAN/LINEMAN 119039 0 9746 0 65717 0 39669 0 23415 0 257586 0 0 0 SEAN PARSONS SUBSTATION MAINTENANCE TECHNICIAN 123801 0 10233 0 66383 0 27904 0 23838 0 252159 0 0 0 DAN WATTERS FOREMAN 128310 0 10720 0 52929 0 30185 0 23852 0 245996 0 0 0 JORDAN ROSS JOURNEYMAN/LINEMAN 117656 0 9746 0 59882 0 19912 0 23760 0 230956 0 0 0 PART I, LINE 4B J. FOSTER HILDRETH, GENERAL MANAGER, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT CONTRIBUTED IN 2023 WAS $20,500. FORM 990, PART VI, SECTION A, LINE 6 THERE IS ONE CLASS OF MEMBERSHIP FOR ALL MEMBERS. A MEMBER IS ENTITLED TO ONE VOTE TO ELECT DIRECTORS AND TO MAKE CHANGES TO THE COOPERATIVE'S BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION IS A COOPERATIVE FORMED TO PROVIDE ELECTRIC SERVICE TO ITS MEMBERS. THE MEMBERS ELECT THE GOVERNING BODY AND APPROVE CHANGES IN THE BY-LAWS. MEMBERS RECEIVE A SHARE OF THE COOPERATIVE'S PROFITS THROUGH THE APPROVAL OF RETIREMENT OF PATRONAGE DIVIDENDS. FORM 990, PART VI, SECTION A, LINE 7B THE GOVERNING BODY MAY RESERVE CERTAIN DECISIONS TO BE PUT ON A BALLOT FOR MEMBERSHIP APPROVAL. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS THE FORM 990 PREPARED BY AN INDEPENDENT CPA FIRM. A COPY OF THE TAX RETURN IS ALSO PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW, COMMENTS, DISCUSSION, AND CLARITY BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE COOPERATIVE REQUIRES ANNUAL SIGNATURES ON CONFLICT OF INTEREST CERTIFICATION AND DISCLOSURE FORMS. POSSIBLE CONFLICTS ARE REVIEWED BY THE COOPERATIVE'S LEGAL COUNSEL. FORM 990, PART VI, SECTION B, LINE 15 THE GENERAL MANAGER'S COMPENSATION IS DELIBERATED, REVIEWED, AND EVALUATED ANNUALLY BY THE BOARD OF DIRECTORS. INDEPENDENT COMPENSATION CONSULTANT AND WAGE SURVEYS ARE USED TO HELP DETERMINE COMPENSATION. THE ORGANIZATION'S TOP MANAGEMENT OFFICIALS' COMPENSATION IS DETERMINED BY THE GENERAL MANAGER USING ANNUAL EVALUATIONS AND SALARY INDUSTRY AND AREA COMPARISON INFORMATION. FORM 990, PART VI, SECTION C, LINE 18 THE FORM 990 IS MADE AVAILABLE TO ITS MEMBERS UPON REQUEST IN PERSON AT THE COOPERATIVE'S MAIN OFFICE AND VIA THE COOPERATIVE'S WEBSITE: WWW.OPALCO.COM/ABOUT-COMMUNITY/DOCUMENT-LIBRARY FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE MADE AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE COOPERATIVE MEMBERS VIA THE COOPERATIVE'S WEBSITE: WWW.OPALCO.COM/ABOUT-COMMUNITY/DOCUMENT-LIBRARY FORM 990, PART IX, LINE 24E ADMIN & GENERAL 1,565,801. TRANSMISSION EXPENSES 1,348,268. CUSTOMER ACCOUNTS 1,085,072. OTHER EXPENSES 158,212. FORM 990, PART XI, LINE 9: INCREASE IN MEMBERSHIPS, NET 175. DONATED AND RETURNED CAPITAL 413,163. AMOUNT OF BENEFITS PAID TO MEMBERS PER 990 INSTRUCTIONS, INTERPRETED TO EQUAL NET MARGINS AS THAT IS THE EQUIVALENT OF THE BENEFITS MEMBERS RECEIVE IN THE CURRENT YEAR 5,625,570. RETIREMENT OF CAPITAL CREDITS, NET -1,563,566. 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