Chugach Electric Association Inc
- Assets
- $1.8b
- Revenue
- $365.1m
- Investments
- $0.0
- Employees
- 525
- Location
- Anchorage, AK
- Founding
- 10/1951
- Data as of
- 12/2023
- EIN
- 92-0014224
Organization Overview
Chugach Electric Association Inc is located in Anchorage, AK. The organization was established in 1951. 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, Chugach Electric Association Inc employed 525 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Chugach 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, Chugach Electric Association Inc generated $365.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $365.1m during the year ending 12/2023. While expenses have increased by 6.0% 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bettina Chastain Director | Trustee | 6 | $24,242 |
Erin Whitney Witmer Director (thru 01/2023) | Trustee | 3 | $800 |
Harold Hollis Director (thru 05/23) | Trustee | 3 | $10,600 |
Mark Wiggins Director | Trustee | 7 | $20,900 |
Rachel Morse Director | Trustee | 6 | $20,649 |
Samuel Cason Director | Trustee | 8 | $22,667 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Hilcorp Energy Lp Dba Hilcorp Alaska Llc Gas Field & Transport | 12/30/23 | $81,353,624 |
Cook Inlet Natural Gas Storage Ak Llc Fuel Storage | 12/30/23 | $4,959,126 |
Petrotechnical Resources Ak Llc Consulting & Engineering | 12/30/23 | $1,345,080 |
World Wide Technology Llc Tech Products, Srvc & Solutions | 12/30/23 | $1,307,940 |
Kendall Dealership Holdings Llc Fleet Additions & Parts | 12/30/23 | $968,272 |
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 | $363,089,831 |
| Investment income | $1,885,161 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $32,471 |
| Net Rental Income | $4,800 |
| Net Gain/Loss on Asset Sales | -$63,823 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $365,107,538 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $42,053 |
| Grants and other assistance to domestic individuals. | $103,804 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $8,099,781 |
| Compensation of current officers, directors, key employees. | $2,669,696 |
| Compensation of current officers, directors, key employees. | $2,669,696 |
| 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 | $41,354,938 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $62,721,621 |
| Insurance | $0 |
| All other expenses | $19,304,656 |
| Total functional expenses | $365,074,156 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,472,490 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $62,436,741 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $63,822,191 |
| Prepaid expenses and deferred charges | $108,643,454 |
| Net Land, buildings, and equipment | $1,488,684,506 |
| Investments—publicly traded securities | $27,457,774 |
| Investments—other securities | $0 |
| Investments—program-related | $6,635,234 |
| Intangible assets | $0 |
| Other assets | $44,767,240 |
| Total assets | $1,807,919,630 |
| Accounts payable and accrued expenses | $34,146,210 |
| 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 | $1,141,710,367 |
| Unsecured mortgages and notes payable | $138,000,000 |
| Other liabilities | $276,002,000 |
| Total liabilities | $1,589,858,577 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,019,553 |
| Paid-in or capital surplus, or land, building, or equipment fund | $182,190,239 |
| Retained earnings, endowment, accumulated income, or other funds | $33,851,261 |
| Total liabilities and net assets/fund balances | $1,807,919,630 |