Parkland Light & Water Company
- Assets
- $45.7m
- Revenue
- $15.7m
- Investments
- $191.5k
- Employees
- 36
- Location
- Tacoma, WA
- Founding
- 08/1934
- Data as of
- 12/2022
- 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 12/2022, Parkland Light & Water Company employed 36 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 12/2022, Parkland Light & Water Company generated $15.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 4.7% each year. All expenses for the organization totaled $12.6m during the year ending 12/2022. While expenses have increased by 2.7% per year over the past 8 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
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 12,745 MEMBERSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elaine Walter Director, President | OfficerTrustee | 5.19 | $15,000 |
Mark Mulder Director, Vice President | OfficerTrustee | 3.04 | $15,600 |
Gary Hauenstein Director, Secretary | OfficerTrustee | 4.12 | $14,100 |
Gary Grazzini Director, Treasurer | OfficerTrustee | 4.63 | $15,000 |
Janet Detering Director, Public Relations | Trustee | 4.35 | $14,100 |
Susan Cutrell General Manager | Officer | 40 | $213,977 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mcclure And Sons Inc Construction | 12/30/22 | $937,480 |
North Industrial Llc Construction | 12/30/22 | $548,677 |
Mckee Enterprises Llc Construction | 12/30/22 | $439,344 |
Ams Siding Llc Construction | 12/30/22 | $200,145 |
Pro-vac Llc Construction | 12/30/22 | $123,677 |
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 | $15,589,297 |
| Investment income | $76,511 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $47,347 |
| Net Gain/Loss on Asset Sales | $6,000 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $15,722,417 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $7,100 |
| 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. | $635,776 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $711,949 |
| Pension plan accruals and contributions | $690,490 |
| Other employee benefits | $726,906 |
| Payroll taxes | $273,706 |
| 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 | $137,433 |
| Advertising and promotion | $0 |
| Office expenses | $12,217 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $154,044 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $152,817 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,459,006 |
| Insurance | $86,496 |
| All other expenses | $138,202 |
| Total functional expenses | $12,601,272 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,000 |
| Savings and temporary cash investments | $14,939,206 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,078,018 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,261,680 |
| Prepaid expenses and deferred charges | $67,393 |
| Net Land, buildings, and equipment | $26,720,294 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $191,460 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $461,223 |
| Total assets | $45,720,274 |
| Accounts payable and accrued expenses | $1,633,460 |
| 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 | $1,633,460 |
| 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 | $5,659,896 |
| Retained earnings, endowment, accumulated income, or other funds | $38,426,918 |
| Total liabilities and net assets/fund balances | $45,720,274 |