Parkland Light & Water Company
- Assets
- $42.7m
- Revenue
- $15.2m
- Investments
- $204.5k
- Employees
- 33
- Location
- Tacoma, WA
- Founding
- 08/1934
- Data as of
- 12/2021
- EIN
- 91-0357190
Organization Overview
Parkland Light & Water Company is located in Tacoma, WA. The organization was established in 1934. 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, Parkland Light & Water Company employed 33 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Parkland Light & Water 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 12/2021, Parkland Light & Water Company generated $15.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.9% each year. All expenses for the organization totaled $12.1m 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
TO PROVIDE RELIABLE AND EFFICIENT SERVICE AT THE LOWEST COST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SALE OF ELECTRIC AND WATER SERVICES TO APPROXIMATELY 12,700 MEMBERSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Susan Cutrell General Manager | Officer | 40 | $213,435 |
Dale Butcher Electric Superintendent | 40 | $145,323 | |
Matthew Cline Electric Foreman | 40 | $137,075 | |
Alex Anderson Manager Of Finance And Adm. | Officer | 40 | $135,114 |
Dale Budzinski Water Superintendent | 40 | $131,715 | |
Curt Thompson Electric Lineman | 40 | $122,875 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mckee Enterprises Llc Construction | 12/30/21 | $127,138 |
Gray And Osborne Inc Construction | 12/30/21 | $120,124 |
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 | $15,012,735 |
| Investment income | $41,917 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $105,636 |
| Net Gain/Loss on Asset Sales | $4,564 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,177,864 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $5,300 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $599,940 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $600,992 |
| Pension plan accruals and contributions | $686,245 |
| Other employee benefits | $689,681 |
| Payroll taxes | $255,296 |
| 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 | $161,351 |
| Advertising and promotion | $0 |
| Office expenses | $15,330 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $128,478 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $58,396 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,410,153 |
| Insurance | $82,732 |
| All other expenses | $125,794 |
| Total functional expenses | $12,128,302 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000 |
| Savings and temporary cash investments | $15,298,028 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,461,475 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $724,816 |
| Prepaid expenses and deferred charges | $74,105 |
| Net Land, buildings, and equipment | $23,225,646 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $204,534 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $720,150 |
| Total assets | $42,709,754 |
| Accounts payable and accrued expenses | $1,848,585 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,848,585 |
| 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 | $5,555,396 |
| Retained earnings, endowment, accumulated income, or other funds | $35,305,773 |
| Total liabilities and net assets/fund balances | $42,709,754 |
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|---|---|---|
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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 |
Midstate Electric Cooperative Inc La Pine, OR | $76,704,845 | $36,643,813 |
Orcas Power & Light Cooperative Eastsound, WA | $113,042,035 | $35,371,006 |
Columbia Rural Electric Association Inc Walla Walla, WA | $105,545,364 | $36,917,429 |
Fall River Rural Electric Cooperative Inc Ashton, ID | $121,834,255 | $35,032,975 |
Salem Electric Salem, OR | $70,962,090 | $31,105,436 |
Lane Electric Cooperative Inc Eugene, OR | $79,862,417 | $28,132,650 |
Barrow Utilities & Electric Coopera Barrow, AK | $51,955,747 | $30,800,786 |
Peak Reliability Vancouver, WA | $0 | $48,178 |