Matanuska Electric Association Inc
- Assets
- $648.7m
- Revenue
- $166.1m
- Investments
- $0.0
- Employees
- 253
- Location
- Palmer, AK
- Founding
- 07/1942
- Data as of
- 12/2023
- EIN
- 92-0007954
Organization Overview
Matanuska Electric Association Inc is located in Palmer, AK. The organization was established in 1942. 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 12/2023, Matanuska Electric Association Inc employed 253 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Matanuska Electric Association Inc 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 12/2023, Matanuska Electric Association Inc generated $166.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $166.1m during the year ending 12/2023. While expenses have increased by 1.5% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
ENERGY SALES TO 70,322 MEMBER CUSTOMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ENERGY SALES TO 70,322 MEMBER CUSTOMERS
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bill Kendig President | OfficerTrustee | 4 | $9,163 |
Dan Tucker Secretary-Treasurer | OfficerTrustee | 5 | $8,300 |
Arthur Keyes Director | Trustee | 2 | $7,924 |
Mark Hamm Director | Trustee | 5 | $7,383 |
Mark Masteller Vice President | OfficerTrustee | 5 | $7,317 |
Maxwell Sumner Director | Trustee | 2 | $6,733 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Alaska Line Builders Llc Electrical Construction | 12/30/23 | $3,931,121 |
Lineworks Llc Electrical Construction | 12/30/23 | $2,347,242 |
Electric Power Constructors Inc Electrical Construction | 12/30/23 | $3,506,170 |
Electro-technical Industries Inc Electrical Construction | 12/30/23 | $1,350,893 |
Electric Power Systems Inc Engineering Consultant | 12/30/23 | $1,110,057 |
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 | $165,323,927 |
| Investment income | $270,060 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$5,222 |
| Net Gain/Loss on Asset Sales | $48,525 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $166,127,735 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $25,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $10,173,570 |
| Compensation of current officers, directors, key employees. | $1,316,586 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $18,014,166 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,442,168 |
| Insurance | $0 |
| All other expenses | $2,272,926 |
| Total functional expenses | $166,127,735 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,368 |
| Savings and temporary cash investments | $1,812,500 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $12,794,228 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $23,201,062 |
| Prepaid expenses and deferred charges | $6,618,756 |
| Net Land, buildings, and equipment | $574,303,921 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $18,266,197 |
| Intangible assets | $0 |
| Other assets | $11,701,319 |
| Total assets | $648,703,351 |
| Accounts payable and accrued expenses | $11,486,071 |
| 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 | $425,991,436 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,934,390 |
| Total liabilities | $451,411,897 |
| 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 | $187,117,884 |
| Retained earnings, endowment, accumulated income, or other funds | $10,173,570 |
| Total liabilities and net assets/fund balances | $648,703,351 |