2025-11-16T21:31:55-06:00 2024-12-31 390859910 BAKER TILLY ADVISORY GROUP LP 601 W RIVERSIDE AVENUE STE 1800 SPOKANE WA 99201 990 2024-01-01 910348358 ORCAS POWER & LIGHT COOPERATIVE ORCA 3603763500 183 MOUNT BAKER RD EASTSOUND WA 982459413 J FOSTER HILDRETH GENERAL MANAGER 3603763500 2025-11-13 1 1 EMINA O CRESSWELL P01217304 5097472600 2025-11-13 2024 2025-03-06 01:10:19Z J FOSTER HILDRETH 183 MOUNT BAKER RD EASTSOUND WA 982459413 40938480 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 49 0 0 0 71291 59706 36507728 39639094 686893 774283 2150417 377863 39416329 40850946 10000 200 5625570 6724492 3163258 3403592 0 0 0 28772550 30647694 37571378 40775978 1844951 74968 131163828 148515746 79853661 91573082 51310167 56942664 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 107 0 1 49 1 0 0 0 0 0 48341063 1924989 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 BRIAN SILVERSTEIN DIRECTOR 3.00 X 5663 0 0 CHUKWUMA ONWUNEME DIRECTOR 2.00 X 2775 0 0 JEFFREY STRUTHERS DIRECTOR (THRU 04/24) 3.00 X 3897 0 0 MARK MADSEN DIRECTOR 2.00 X 20343 0 0 OLIVER WHITFIELD BOARD VP 3.00 X X 7552 0 0 THOMAS OSTERMAN BOARD SECRETARY 5.00 X X 34471 0 0 VINCENT DAUCIUNAS BOARD PRESIDENT 10.00 X X 32217 0 0 WENDY HIESTER DIRECTOR 4.00 X 1125 0 0 NANCY LOOMIS MANAGER OF FINANCE & MEMBER SERVICES 40.00 X 209322 0 118852 J FOSTER HILDRETH GENERAL MANAGER 40.00 X 380309 141351 270040 RUSSELL GUERRY MANAGER OF ENGINEERING & OPERATIONS 40.00 X 236660 0 83871 CURTIS OLSON JOURNEYMAN/LINEMAN 54.00 X 202978 0 59581 KAI BURLESON SUBSTATION MAINTENANCE TECHNICIAN 55.50 X 205498 0 52017 SEAN PARSONS SUBSTATION MAINTENANCE TECHNICIAN 54.70 X 207575 0 54998 BRIAN SWANSON FOREMAN 53.00 X 203361 0 68061 DAN WATTERS FOREMAN 54.60 X 208754 0 57049 1962500 141351 764469 33 0 1 0 POTELCO 14103 STEWART ROAD SUMNER WA 98390 SUBSTATION CONTRACTOR 5324160 EARTHWORKS COMPANY INC PO BOX 278 EASTSOUND WA 98245 EXCAVATION/CONSTRUCTION SERVICES 5279671 SCHROCK CONSTRUCTION INC 4425 OCEAN BEACH HWY LONGVIEW WA 98632 EXCAVATION/CONSTRUCTION SERVICES 3151081 RAIN SHADOW SOLAR & ENERGY SOLUTIONS PO BOX 541 ORCAS WA 98280 SOLAR CONTRACTOR 2320968 SWIFTWATER ELECTRIC AND SOLAR 2795 EAST BAKERVIEW RD 14 BELLINGHAM WA 98266 SOLAR CONTRACTOR 1058328 28 59706 59706 ELECTRIC ENERGY SALES 221000 39556962 39556962 POLE RENTAL INCOME 221000 82132 82132 39639094 783717 783717 108953 0 108953 108953 108953 78100 87534 -9434 -9434 -9434 OTHER INCOME 221000 100415 100415 PATRONAGE CAPITAL CREDITS 221000 93527 93527 UNAPPROPROPRIATED SUB EARNINGS 221000 74968 74968 268910 40850946 39825872 0 965368 200 6724492 1326137 2077455 120000 1965138 5688475 COST OF PURCHASED POWER 9126474 MAINTENANCE EXPENSES 4077748 DISTRIBUTION EXPENSES 3914167 TAXES 1825621 3930071 40775978 3449876 1030088 6652832 5452726 6247535 7251802 4544853 5165169 750805 670845 197076219 75559892 107674051 121516327 1651628 1747139 -9331007 -9245876 33949 28290 9489306 14899236 131163828 148515746 4260468 4366032 75105409 86615218 487784 591832 79853661 91573082 X 58555 58755 12188062 13471437 39063550 43412472 51310167 56942664 131163828 148515746 X 74968 5557529 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1223587 1223587 5894677 3933989 1960688 189957955 71625903 118332052 121516327 INTEREST RECEIVABLE 24753 DEFERRED CHARGES 14874483 14899236 DEFERRED CREDITS 512124 CUSTOMER DEPOSITS 79708 591832 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, 2024 AND 2023, 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. X X X X 0 1 0 J FOSTER HILDRETH GENERAL MANAGER 366271 0 0 141351 14038 0 224304 0 45736 0 650349 141351 0 0 NANCY LOOMIS MANAGER OF FINANCE & MEMBER SERVICES 199382 0 6000 0 3940 0 83095 0 35757 0 328174 0 0 0 RUSSELL GUERRY MANAGER OF ENGINEERING & OPERATIONS 219013 0 6000 0 11647 0 40075 0 43796 0 320531 0 0 0 BRIAN SWANSON FOREMAN 149548 0 0 0 53813 0 42381 0 25680 0 271422 0 0 0 DAN WATTERS FOREMAN 149837 0 0 0 58917 0 31548 0 25501 0 265803 0 0 0 SEAN PARSONS SUBSTATION MAINTENANCE TECHNICIAN 144509 0 0 0 63066 0 29550 0 25448 0 262573 0 0 0 CURTIS OLSON JOURNEYMAN/LINEMAN 141793 0 0 0 61185 0 34594 0 24987 0 262559 0 0 0 KAI BURLESON SUBSTATION MAINTENANCE TECHNICIAN 144293 0 0 0 61205 0 26622 0 25395 0 257515 0 0 0 PART I, LINE 4B J. FOSTER HILDRETH, GENERAL MANAGER, PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. THE AMOUNT CONTRIBUTED IN 2024 WAS $0 (NOT VESTED UNTIL 2028). THE AMOUNT DEFERRED IN 2024 WAS $30,000. 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 XI, LINE 9: INCREASE IN MEMBERSHIPS, NET 200. DONATED AND RETURNED CAPITAL 454,216. 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 6,724,492. RETIREMENT OF CAPITAL CREDITS, NET -1,621,379. 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