Clearwater Power Company
- Assets
- $72.5m
- Revenue
- $24.1m
- Investments
- $3.8m
- Employees
- 49
- Location
- Lewiston, ID
- Founding
- 03/1938
- Data as of
- 12/2022
- EIN
- 82-0108745
Organization Overview
Clearwater Power Company is located in Lewiston, ID. The organization was established in 1938. 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, Clearwater Power Company employed 49 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clearwater Power Company 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, Clearwater Power Company generated $24.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.8% each year. All expenses for the organization totaled $24.1m during the year ending 12/2022. While expenses have increased by 2.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
CLEARWATER POWER COMPANY'S MISSION IS TO PROVIDE ITS COOPERATIVE MEMBERS/CONSUMERS WITH SAFE, RELIABLE, COST-BASED ENERGY AND RELATED SERVICES. THE COOPERATIVE'S SIGNIFICANT ACTIVITY IS TO PROVIDE ELECTRIC POWER DISTRIBUTION TO ITS MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RURAL ELECTRIC COOPERATIVE-PROVIDES ELECTRIC AND RELATED SERVICES TO MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bob Pierce COO | 50 | $182,189 | |
K David Hagen Ceo/general Mgr | Officer | 55 | $242,305 |
Clifford Miller Foreman | 47 | $169,048 | |
Lorrie Mccabe CFO | Officer | 45 | $162,035 |
Kevin Cromer Foreman | 46 | $165,213 | |
John Stanton Foreman | 49 | $179,896 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
National Rural Telecommunications Wildblue Monthly Service | 12/30/22 | $298,827 |
Trees Llc Tree Trimming | 12/30/22 | $277,543 |
Asplundh Tree Experts Company Tree Trimming | 12/30/22 | $426,771 |
Summit Utility Contractors Llc Plowing/exca | 12/30/22 | $267,308 |
Sturgeon Electric Company Inc Pole Change Out | 12/30/22 | $485,726 |
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 | $23,859,902 |
| Investment income | $124,874 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $32,087 |
| Net Gain/Loss on Asset Sales | $14,999 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $6,431 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $24,119,097 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,831,650 |
| Compensation of current officers, directors, key employees. | $1,173,407 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,515,325 |
| Pension plan accruals and contributions | $1,133,094 |
| Other employee benefits | $1,093,664 |
| Payroll taxes | $376,342 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $1,067,949 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,742,188 |
| Insurance | $0 |
| All other expenses | -$6,903,222 |
| Total functional expenses | $24,119,097 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $786,199 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,350,463 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,734,371 |
| Prepaid expenses and deferred charges | $116,164 |
| Net Land, buildings, and equipment | $60,039,383 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,823,079 |
| Investments—program-related | $2,790,623 |
| Intangible assets | $0 |
| Other assets | $869,819 |
| Total assets | $72,510,101 |
| Accounts payable and accrued expenses | $3,033,275 |
| 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 | $34,874,406 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,068,168 |
| Total liabilities | $38,975,849 |
| 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 | $2,659,324 |
| Retained earnings, endowment, accumulated income, or other funds | $30,874,928 |
| Total liabilities and net assets/fund balances | $72,510,101 |