Camano Co-Operative Water & Power Company
- Assets
- $4.3m
- Revenue
- $655.7k
- Investments
- $0.0
- Employees
- 10
- Location
- Camano Island, WA
- Founding
- 06/1934
- Data as of
- 09/2022
- EIN
- 91-0587045
Organization Overview
Camano Co-Operative Water & Power Company is located in Camano Island, 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 09/2022, Camano Co-Operative Water & Power Company employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Camano Co-Operative Water & 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 09/2022, Camano Co-Operative Water & Power Company generated $655.7k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $389.6k during the year ending 09/2022. While expenses have increased by 1.1% 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
THE ORGANIZATION PROVIDES WATER SERVICE TO SHAREHOLDERS ON CAMANO ISLAND, INCLUDING WATER MAINTENANCE, WATER SUPPLY, AND WATER HOOK-UPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED QUALITY WATER AND SERVICES TO SHAREHOLDERS ON CAMANO ISLAND, INCLUDING WATER MAINTENANCE, WATER SUPPLY, AND WATER HOOK- UPS.
THE ORGANIZATION PROVIDED QUALITY WATER AND SERVICES TO SHAREHOLDERS ON CAMANO ISLAND, INCLUDING WATER MAINTENANCE, WATER SUPPLY, WATER HOOK-UPS AND STREET LIGHTING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Chris Richards President | OfficerTrustee | 1 | $4,080 |
Paul Weisse Vice Preside | OfficerTrustee | 1 | $2,320 |
Virgil Fernandez Treasurer | OfficerTrustee | 1 | $2,140 |
Brian Bowden Trustee | Trustee | 1 | $1,390 |
Trent Lowe Trustee | Trustee | 1 | $760 |
Nancy Russell Secretary | OfficerTrustee | 1 | $590 |
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 | $655,157 |
| Investment income | $520 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $655,677 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,333 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $6,483 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $3,390 |
| Fees for services: Accounting | $6,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $17,190 |
| Advertising and promotion | $0 |
| Office expenses | $5,748 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,286 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $7,446 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $117,128 |
| Insurance | $9,905 |
| All other expenses | $15,133 |
| Total functional expenses | $389,570 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $98,572 |
| Savings and temporary cash investments | $493,700 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,885 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $31,600 |
| Prepaid expenses and deferred charges | $7,951 |
| Net Land, buildings, and equipment | $2,792,769 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $3,931 |
| Other assets | $883,338 |
| Total assets | $4,315,746 |
| Accounts payable and accrued expenses | $13,737 |
| Grants payable | $0 |
| Deferred revenue | $14,048 |
| 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 | $456,644 |
| Total liabilities | $484,429 |
| Net assets without donor restrictions | $3,831,317 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,315,746 |
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