Alaska Village Electric Cooperative Inc
- Assets
- $149.8m
- Revenue
- $62.1m
- Investments
- $983.7k
- Employees
- 110
- Location
- Anchorage, AK
- Founding
- 03/1969
- Data as of
- 12/2021
- EIN
- 92-0035763
Organization Overview
Alaska Village Electric Cooperative Inc is located in Anchorage, AK. The organization was established in 1969. 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 12/2021, Alaska Village Electric Cooperative Inc employed 110 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alaska Village Electric Cooperative 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 12/2021, Alaska Village Electric Cooperative Inc generated $62.1m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $55.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELECTRIC POWER TO 58 REMOTE ALASKAN VILLAGES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERATED 132.5M KWH FOR USE BY 11,555 CONSUMERS IN 58 VILLAGES.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Stamm President & CEO | Officer | 45 | $247,263 |
Lenny Welch Mgr, Bethel Operations | 45 | $230,951 | |
Meera Kohler Retired CEO | Officer | 45 | $199,483 |
Debbie Bullock Mgr, Admin Services | Officer | 45 | $183,227 |
Forest Button Mgr, Key Accounts | 45 | $165,443 | |
William Thomson Engineering & Tech. Advisor | 45 | $157,467 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ridge Contracting Inc Capital Project | 12/30/21 | $2,692,174 |
Alaska Line Builders Llc Capital Projects | 12/30/21 | $3,095,034 |
Electric Power Constructors Inc Capital Projects | 12/30/21 | $615,767 |
Stg Inc Capital Projects | 12/30/21 | $588,627 |
Freqcon Gmbh Capital Projects | 12/30/21 | $383,917 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $7,556,403 |
| 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 | $7,556,403 |
| Total Program Service Revenue | $51,871,938 |
| Investment income | $1,524,757 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$367,729 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $62,136,237 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $14,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $988,651 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,000,952 |
| Pension plan accruals and contributions | $2,257,457 |
| Other employee benefits | -$1,579,989 |
| Payroll taxes | $447,654 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $123,877 |
| Fees for services: Accounting | $61,745 |
| Fees for services: Lobbying | $30,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $628,843 |
| Advertising and promotion | $9,588 |
| Office expenses | $1,243,511 |
| Information technology | $487,881 |
| Royalties | $0 |
| Occupancy | $976,057 |
| Travel | $883,237 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $33,550 |
| Interest | $2,071,986 |
| Payments to affiliates | $152,395 |
| Depreciation, depletion, and amortization | $4,516,543 |
| Insurance | $244,075 |
| All other expenses | $62,068 |
| Total functional expenses | $55,800,258 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $16,602,121 |
| Pledges and grants receivable | $561,829 |
| Accounts receivable, net | $5,544,230 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,685,281 |
| Inventories for sale or use | $19,960,918 |
| Prepaid expenses and deferred charges | $613,886 |
| Net Land, buildings, and equipment | $77,584,611 |
| Investments—publicly traded securities | $9,593,489 |
| Investments—other securities | $983,669 |
| Investments—program-related | $4,625,103 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $149,755,137 |
| Accounts payable and accrued expenses | $2,417,979 |
| Grants payable | $0 |
| Deferred revenue | $6,058,951 |
| 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 | $55,571,241 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $21,170,595 |
| Total liabilities | $85,218,766 |
| 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 | $38,259,917 |
| Retained earnings, endowment, accumulated income, or other funds | $26,276,454 |
| Total liabilities and net assets/fund balances | $149,755,137 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Alaska Village Electric Cooperative Inc has recieved totaling $40,000.
| Awarding Organization | Amount |
|---|---|
The Foraker Group Anchorage, AK PURPOSE: COMMUNITY BUILDING | $40,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Homer Electric Association Inc Homer, AK | $266,114,703 | $113,967,382 |
Inland Power & Light Co Spokane, WA | $298,221,337 | $90,911,502 |
Breakthrough Energy Foundation Kirkland, WA | $272,263,093 | $53,009,802 |
Peninsula Light Company Inc Gig Harbor, WA | $206,412,044 | $64,241,054 |
Alaska Village Electric Cooperative Inc Anchorage, AK | $149,755,137 | $62,136,237 |
Benton Rural Electric Association Prosser, WA | $100,163,870 | $44,244,946 |
Big Bend Electric Cooperative Inc Ritzville, WA | $77,547,194 | $40,611,913 |
Orcas Power & Light Cooperative Eastsound, WA | $113,042,035 | $35,371,006 |
Columbia Rural Electric Association Inc Walla Walla, WA | $105,545,364 | $36,917,429 |
Barrow Utilities & Electric Coopera Barrow, AK | $51,955,747 | $30,800,786 |
Peak Reliability Vancouver, WA | $0 | $48,178 |
Copper Valley Electric Association Inc Glennallen, AK | $79,168,354 | $26,151,233 |