Kotzebue Electric Association Inc
- Assets
- $17.7m
- Revenue
- $8.9m
- Investments
- $0.0
- Employees
- 17
- Location
- Kotzebue, AK
- Founding
- 06/1959
- Data as of
- 12/2023
- EIN
- 92-0021979
Organization Overview
Kotzebue Electric Association Inc is located in Kotzebue, AK. The organization was established in 1959. 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, Kotzebue Electric Association Inc employed 17 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kotzebue 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, Kotzebue Electric Association Inc generated $8.9m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $9.2m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (0.4%) per year over the past 9 years. 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
PROVIDE ENERGY RESOURCES TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SERVED THE KOTZEBUE AREA RESIDENTS AND BUSINESSES BY PROVIDING ENERGY RESOURCES.
SERVED THE KOTZEBUE AREA RESIDENTS AND BUSINESSES BY PROVIDING ENERGY RESOURCES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pierre Alan Lonewolf Secretary | OfficerTrustee | 1 | $11,500 |
Harold D Lambert President | OfficerTrustee | 1 | $8,250 |
Dominic D Ivanoff Vice President | OfficerTrustee | 1 | $8,475 |
Harold L Short Board Member | Trustee | 1 | $5,275 |
Charles Brett Connor Board Member | Trustee | 1 | $8,600 |
Reid Magdanz Treasurer | OfficerTrustee | 1 | $6,275 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Launch Alaska Meter Installation | 12/30/23 | $197,737 |
Electric Power Systems Solar Transition | 12/30/23 | $164,054 |
Alaska Native Renewable Industries Solar Transition | 12/30/23 | $1,219,762 |
Cannon Technologies Inc Meter Installation | 12/30/23 | $269,185 |
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 | $8,786,673 |
| Investment income | $3,079 |
| 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 | $8,853,803 |
| 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. | $418,174 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $90,114 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $9,249 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $71,406 |
| Fees for services: Accounting | $157,287 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $35,856 |
| Advertising and promotion | $9,332 |
| Office expenses | $0 |
| Information technology | $94,010 |
| Royalties | $0 |
| Occupancy | $179,806 |
| Travel | $41,940 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $242,908 |
| Interest | $235,518 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $998,351 |
| Insurance | $26,398 |
| All other expenses | $10,753 |
| Total functional expenses | $9,207,916 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $401,755 |
| Savings and temporary cash investments | $166,385 |
| Pledges and grants receivable | $753,556 |
| Accounts receivable, net | $1,203,179 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,765,591 |
| Prepaid expenses and deferred charges | $2,369,364 |
| Net Land, buildings, and equipment | $6,440,254 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $1,845,503 |
| Intangible assets | $0 |
| Other assets | $764,882 |
| Total assets | $17,710,469 |
| Accounts payable and accrued expenses | $570,817 |
| Grants payable | $0 |
| Deferred revenue | $206,638 |
| 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 | $6,195,648 |
| Unsecured mortgages and notes payable | $2,700,000 |
| Other liabilities | $737,513 |
| Total liabilities | $10,410,616 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $8,090 |
| Paid-in or capital surplus, or land, building, or equipment fund | $46,870 |
| Retained earnings, endowment, accumulated income, or other funds | $7,244,893 |
| Total liabilities and net assets/fund balances | $17,710,469 |