2024-10-09T16:34:36-05:00 2023-12-31 135565207 KPMG LLP 550 S HOPE STREET LOS ANGELES CA 90071 990 2023-01-01 920014224 CHUGACH ELECTRIC ASSOCIATION INC CHUG 9077624511 PO BOX 196300 ANCHORAGE AK 995196300 ARTHUR W MILLER CHIEF EXECUTIVE OFFICER 9077624511 2024-09-07 1 0 DAVID M HIGHFILL P01517891 2139724000 2024-09-25 2023 2024-10-15 13:58:12Z ARTHUR W MILLER PO BOX 196300 ANCHORAGE AK 995196300 365455611 0 X WWW.CHUGACHELECTRIC.COM X 1948 AK SEE SCHEDULE O 7 7 525 22 0 0 0 0 354441078 363089831 680606 1821338 33389 196369 355155073 365107538 128465 145857 8123737 8099781 3098367 2669696 0 0 0 343767595 354158822 355118164 365074156 36909 33382 1767579590 1807919630 1555244114 1589858577 212335476 218061053 X SEE SCHEDULE O 0 0 SEE SCHEDULE O 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 217 0 1 525 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 177345876 3016903 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 AK X SHERRI L HIGHERS 9077624511 5601 ELECTRON DRIVE ANCHORAGE AK 995181074 BETTINA CHASTAIN DIRECTOR 6.00 0.00 X 24242 0 0 ERIN WHITNEY WITMER DIRECTOR (THRU 01/2023) 3.00 0.00 X 800 0 0 HAROLD HOLLIS DIRECTOR (THRU 05/23) 3.00 0.00 X 10600 0 0 MARK WIGGINS DIRECTOR 7.00 0.00 X 20900 0 0 RACHEL MORSE DIRECTOR 6.00 0.00 X 20649 0 0 SAMUEL CASON DIRECTOR 8.00 0.00 X 22667 0 0 STANISLAVA COOPER DIRECTOR 7.00 0.00 X 17892 0 0 SUSANNE GREEN DIRECTOR 7.00 0.00 X 9792 0 0 BERNIE ROY SMITH DIRECTOR (THRU 05/2023) 3.00 0.00 X 5100 0 0 JAMES NORDLUND DIRECTOR 7.00 0.00 X 7350 0 0 ARTHUR MILLER CHIEF EXECUTIVE OFFICER 40.00 0.00 X 543779 0 148013 SHERRI HIGHERS CHIEF FINANCIAL OFFICER 40.00 0.00 X 347448 0 227665 ANDREW LAUGHLIN CHIEF OPERATING OFFICER 40.00 0.00 X 301321 0 109032 ALLAN RUDECK CHIEF STRATEGIC OFFICER 40.00 0.00 X 185639 0 28629 TIFFANY WILSON CHIEF HR OFFICER 40.00 0.00 X 57352 0 4581 MATTHEW CLARKSON CHIEF LEGAL OFFICER 40.00 0.00 X 364720 0 71390 SHELDON NASLUND JOURNEYMAN LINEMAN 61.00 0.00 X 310917 0 77682 EUGENE ORI VP POWER PRODUCTION 52.00 0.00 X 285079 0 70870 GARY GRIFFITH FOREMAN 61.00 0.00 X 268440 0 72026 VLADIMIR KRIVONOSOV SR. DESIGNER 58.00 0.00 X 245599 0 54807 RON VECERA VP ADMINISTRATION 40.00 0.00 X 248946 0 71462 3299232 0 936157 317 0 1 0 HILCORP ENERGY LP DBA HILCORP ALASKA LLC PO BOX 61567 HOUSTON TX 77208 GAS FIELD & TRANSPORT 81353624 COOK INLET NATURAL GAS STORAGE AK LLC 3000 SPENARD ROAD ANCHORAGE AK 99503 FUEL STORAGE 4959126 PETROTECHNICAL RESOURCES AK LLC 3601 C ST STE 1424 ANCHORAGE AK 99503 CONSULTING & ENGINEERING 1345080 WORLD WIDE TECHNOLOGY LLC 1 WORLD WIDE WAY SAINT LOUIS MO 63146 TECH PRODUCTS, SRVC & SOLUTIONS 1307940 KENDALL DEALERSHIP HOLDINGS LLC PO BOX 201669 ANCHORAGE AK 99520 FLEET ADDITIONS & PARTS 968272 38 ELECTRIC REVENUE 221000 361949486 361949486 MICROWAVE SERVICES 221000 394254 394254 POLE RENTAL 221000 343579 343579 MEMBERSHIP DUES 221000 33382 33382 CAPITAL CREDITS 221000 1581 1581 367549 367549 363089831 1885161 1885161 32471 32471 4800 0 4800 4800 4800 284250 348073 -63823 -63823 -63823 MISCELLANEOUS REVENUE - BELUGA CA 221000 159098 159098 159098 365107538 362746252 0 2361286 42053 42053 103804 103804 8099781 8099781 2669696 2669696 41354938 41354938 62721621 62721621 FUEL/PURCHASED POWER 113234541 113234541 ADMIN & GENERAL 49648124 49648124 OTHER POWER PRODUCTION 40744453 40744453 DISTRIBUTION EXPENSE 27150489 27150489 19304656 17096148 2208508 365074156 310547828 54526328 0 3768973 5472490 12174066 0 50243472 62436741 68199774 63822191 115102455 108643454 2248484501 759799995 1463940643 1488684506 24888329 27457774 6993487 6635234 22268391 44767240 1767579590 1807919630 26356140 34146210 1190434550 1141710367 45000000 138000000 293453424 276002000 1555244114 1589858577 X 1986171 2019553 178948678 182190239 31400627 33851261 212335476 218061053 1767579590 1807919630 X 33382 5692195 X 0 1 X 1 0 27341447 27341447 233196507 85553364 147643143 1987946547 674246631 1313699916 1488684506 CONSUMER DEPOSITS 4198551 ACCRUED INTEREST 8058734 FUEL & FUEL COST PAYABLE 5754117 SALARIES, WAGES & BENEFITS 13076259 COST OF REMOVAL OBLIGATION 128941765 OPERATING LEASE LIABILITY 3787173 DEFERRED COMPENSATION & CREDIT 16601225 BRU REGULATORY LIABILITY AND OTHER 95584176 276002000 X 365172005 97849 97849 365074156 33382 33382 365107538 357218084 0 357218084 7856072 7856072 365074156 PART X, LINE 2: FOOTNOTE 2(U): CHUGACH APPLIES A MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD FOR ALL TAX UNCERTAINTIES. FASB ASC 740, "TOPIC 740 - INCOME TAXES," ONLY ALLOWS THE RECOGNITION OF THOSE TAX BENEFITS THAT HAVE A GREATER THAN FIFTY PERCENT LIKELIHOOD OF BEING SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. CHUGACH'S MANAGEMENT REVIEWED CHUGACH'S TAX POSITION AND DETERMINED THERE WERE NO OUTSTANDING OR RETROACTIVE TAX POSITION THAT WERE NOT HIGHLY CERTAIN OF BEING SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES. MANAGEMENT HAS CONCLUDED THAT THERE ARE NO SIGNIFICANT TAX POSITIONS REQUIRING RECOGNITION IN ITS FINANCIAL STATEMENTS FOR ALL PERIODS PRESENTED CHUGACH'S EVALUATION WAS PERFORMED FOR THE TAX PERIODS ENDED DECEMBER 31, 2022 THROUGH DECEMBER 31, 2023 FOR UNITED STATES FEDERAL INCOME TAX, THE TAX YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF DECEMBER 31, 2023. PART XI, LINE 2D - OTHER ADJUSTMENTS: AFUDC 243,706. DONATIONS -145,857. PART XI, LINE 4B - OTHER ADJUSTMENTS: PROGRAM MEMBERSHIP DUES AND ASSESSMENT 33,382. PART XII, LINE 4B - OTHER ADJUSTMENTS: AFUDC -243,706. ASSIGNABLE MARGINS 8,099,778. 1 ALASKA JOINT ELECTRICAL APPRENTICESHIP & TRAINING TRUST 5800 B STREET ANCHORAGE AK 99516 920081203 501(C)(3) 0 20250 BOOK VALUE VAULTS TRAINING 1 0 CREDIT APPLIED TO ELECTRIC BILL 355 103804 BOOK PART III. CHUGACH MAY INCLUDE AS PART OF ITS ANNUAL BUDGET A SUM OF MONEY FOR CONTRIBUTIONS TO ASSIST CHUGACH MEMBERS WHO BECAUSE OF VARIOUS HARDSHIP SITUATIONS ARE UNABLE TO PAY THEIR PAST DUE ELECTRIC BILL. HARDSHIP SITUATIONS INCLUDE, BUT ARE NOT LIMITED TO, CIRCUMSTANCES WHERE EITHER THE MEMBER OR A DEPENDENT IN THE MEMBER'S HOUSEHOLD IS SERIOUSLY ILL, HANDICAPPED, OR DEPENDENT ON LIFE SUPPORT SYSTEMS. CHUGACH HAS A BOARD POLICY THAT ESTABLISHES THE CRITERIA, AS DEFINED ABOVE, THAT MEMBERS MUST MEET IN ORDER TO QUALIFY FOR ASSISTANCE IN PAYING THEIR PAST DUE ELECTRIC BILLS. THE APPLICANT SCREENING IS DONE THROUGH THE AGING AND DISABILITY RESOURCE CENTER ADMINISTERED BY THE MUNICIPALITY OF ANCHORAGE, DEPARTMENT OF HEALTH AND HUMAN SERVICES. CHUGACH RECEIVED A GRANT FROM THE URBAN SUSTAINABILITY DIRECTORS NETWORK TO SUPPORT A BENEFICIAL ELECTRICATION AND ENERGY STAR INCENTIVE PROGRAM. THE MONEY IS TO ONLY BE USED TO SUPPORT MEMBERS WHO PARTICIPATE IN BENEFICIAL ELECTRIFICATION AND ENERGY STAR INCENTIVE PROGRAM QUALIFYING PURCHASES. X X 1 1 X X X X 0 0 0 1 ARTHUR MILLER CHIEF EXECUTIVE OFFICER 462079 0 52000 0 29700 0 97630 0 50383 0 691792 0 0 0 SHERRI HIGHERS CHIEF FINANCIAL OFFICER 322206 0 20413 0 4829 0 189863 0 37802 0 575113 0 0 0 MATTHEW CLARKSON CHIEF LEGAL OFFICER 324330 0 20413 0 19977 0 26209 0 45181 0 436110 0 0 0 ANDREW LAUGHLIN CHIEF OPERATING OFFICER 286845 0 13414 0 1062 0 64962 0 44070 0 410353 0 0 0 SHELDON NASLUND JOURNEYMAN LINEMAN 306065 0 0 0 4852 0 52564 0 25118 0 388599 0 0 0 EUGENE ORI VP POWER PRODUCTION 218788 0 0 0 66291 0 27538 0 43332 0 355949 0 0 0 GARY GRIFFITH FOREMAN 247479 0 0 0 20961 0 47586 0 24440 0 340466 0 0 0 RON VECERA VP ADMINISTRATION 39093 0 0 0 209853 0 62712 0 8750 0 320408 0 0 0 VLADIMIR KRIVONOSOV SR. DESIGNER 243110 0 0 0 2489 0 29635 0 25172 0 300406 0 0 0 ALLAN RUDECK CHIEF STRATEGIC OFFICER 158805 0 0 0 26834 0 0 0 28629 0 214268 0 0 0 PART I, LINE 1A CHUGACH HAS A HELICOPTER LEASE AND A STANDING AIR CHARTER FOR EMPLOYEES TO REACH FACILITIES AT REMOTE LOCATIONS, SUCH AS THE BELUGA POWER PLANT WHICH IS ONLY ACCESSIBLE BY AIR. SEVERAL OF CHUGACH'S EMPLOYEES, INCLUDING THOSE LISTED, HAVE USED ONE OR BOTH OF THESE SERVICES TO INSPECT OR PERFORM MAINTENANCE ON EQUIPMENT, CONDUCT SUPERVISORY RESPONSIBILITIES, OR ESCORT GUESTS ON TOURS. ON OCCASION, OFFICERS USE FIRST-CLASS TRAVEL FOR TRAVEL OUT OF STATE TO PERFORM BUSINESS ON BEHALF OF THE ORGANIZATION. THE FIRST-CLASS FARES OBTAINED ARE COMPARABLE TO THE COACH FARES AVAILABLE ON THE COMMERCIAL AIRLINE USUALLY USED BY THE ORGANIZATION FOR BUSINESS TRAVEL. THE GROSS-UP PAYMENTS APPLIED TO CHUGACH'S EMPLOYEES ARE NON-CASH REWARDS, CONSISTING OF GIFT CARDS AND AN EMPLOYEE RECOGNITION PROGRAM, WHERE POINTS CAN BE REDEEMED FOR VARIOUS PRIZES. PART I, LINE 7 NON FIXED PAYMENTS CERTAIN INDIVIDUALS RECEIVED DISCRETIONARY, NONFIXED PAYMENTS DURING CALENDAR YEAR 2023. THESE AMOUNTS ARE REPORTED IN SCHEDULE J, PART II, COL B (II). PART I LINE 1 CHUGACH ELECTRIC ASSOCIATION, INC. PROVIDES THE GENERATION, TRANSMISSION, AND DISTRIBUTION OF ELECTRICITY TO RETAIL CUSTOMERS AND THE GENERATION AND TRANSMISSION OF ELECTRICITY TO ITS WHOLESALE CUSTOMER. PART III LINE 4A CHUGACH ELECTRIC ASSOCIATION, INC. PROVIDES TRANSMISSION AND DISTRIBUTION SERVICES TO APPROXIMATELY 113,543 RETAIL SERVICE LOCATIONS AND PROVIDES GENERATION AND TRANSMISSION SERVICES TO ITS WHOLESALE CUSTOMER. PART III LINE 1 CHUGACH ELECTRIC ASSOCIATION, INC. PROVIDES THE GENERATION, TRANSMISSION, AND DISTRIBUTION OF ELECTRICITY TO RETAIL CUSTOMERS AND THE GENERATION AND TRANSMISSION TO ITS WHOLESALE CUSTOMER. WE PROVIDE SAFE, RELIABLE, AND AFFORDABLE ELECTRICITY THROUGH SUPERIOR SERVICE AND SUSTAINABLE PRACTICES, POWERING THE LIVES OF OUR MEMBERS. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS AN ELECTRIC COOPERATIVE WHICH IS OWNED BY ITS MEMBERS, APPROXIMATELY 90,757 AS OF 12/31/23. FORM 990, PART VI, SECTION A, LINE 7A THE CURRENT BOARD OF DIRECTORS ARE ELECTED BY THE MEMBERSHIP AND SERVE FOUR-YEAR TERMS. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE ORGANIZATION'S BYLAWS AND ARTICLES OF INCORPORATION ARE SUBJECT TO APPROVAL BY THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 8B BOARD COMMITTEES DO NOT HAVE THE AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. BOARD COMMITTEES MAKE RECOMMENDATIONS TO THE GOVERNING BODY FOR APPROVAL, HOWEVER, THE ORGANIZATION CONTEMPORANEOUSLY DOCUMENTS THE COMMITTEE MEETINGS HELD AND WRITTEN RECOMMENDATIONS UNDERTAKEN DURING THE YEAR. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S REVIEW PROCESS FOR FORM 990 INCLUDES AN INITIAL REVIEW BY THE CEO AND OFFICERS IN DETAIL, INCLUDING ALL FORMS AND SCHEDULES. THE FORMS AND SCHEDULES ARE ALSO PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CHUGACH BOARD HAS A WRITTEN "PROHIBITED CONDUCT AND CONFLICT OF INTEREST" POLICY AND PROCEDURES FOR REVIEW AND APPROVAL OF RELATED-PARTY TRANSACTIONS. EITHER THE BOARD MEMBERS OR THE CEO WILL CONDUCT THE REVIEW, DEPENDING WHO IS INVOLVED. AMONG OTHER FACTORS, THE NATURE OF THE TRANSACTION AND WHETHER THE TRANSACTION OR RELATIONSHIP IMPAIRS THE ABILITY OF THE EMPLOYEE OR DIRECTOR TO SERVE THE BEST INTEREST OF CHUGACH ARE EVALUATED DURING THE REVIEW. THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS MINUTES AND INVESTIGATES POTENTIAL OR ACTUAL CONFLICTS WHEN DISCOVERED THROUGH MEMBER IDENTIFICATION. CONFLICTS OF AN EMPLOYEE ARE REVIEWED AND DETERMINED BY THE CEO, CHAIRMAN OF THE BOARD, AND LEGAL COUNSEL. CONFLICTS OF THE CEO ARE REVIEWED AND DETERMINED BY THE BOARD OF DIRECTORS. CONFLICTS OF THE BOARD OF DIRECTORS ARE REVIEWED BY LEGAL COUNSEL AND DETERMINATIONS ARE MADE BY A VOTE OF THE BOARD OF DIRECTORS AFTER RECEIVING ADVICE FROM LEGAL COUNSEL. ANY DIRECTOR OR EMPLOYEE WHOSE CONDUCT INFRINGES UPON EITHER THE LETTER OR SPIRIT OF THE CONFLICT OF INTEREST POLICY SHALL BE SUBJECT TO: (1) IF CEO, TERMINATION BY APPROPRIATE ACTION OF THE BOARD OF DIRECTORS; (2) IF AN EMPLOYEE, TERMINATION BY APPROPRIATE ACTION OF THE CEO; OR (3) IF A DIRECTOR, CHARGES BY THE BOARD LEADING TO REMOVAL IN ACCORDANCE WITH THE APPROPRIATE SECTION OF THE ORGANIZATION'S BYLAWS OR AUTOMATIC INELIGIBILITY AS APPLICABLE UNDER THE CIRCUMSTANCES. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS ENLISTED THE AID OF AN INDEPENDENT CONSULTANT TO ADVISE THEM ON MARKET COMPENSATION, AND THE PROCESS WAS CONTEMPORANEOUSLY DOCUMENTED. AFTER MEETING WITH THE CONSULTANT, THE BOARD SET THE CEO'S SALARY. FORM 990, PART VI, SECTION C, LINE 19 ALL APPLICABLE DOCUMENTS ARE AVAILABLE TO THE PUBLIC ON THE COMPANY'S WEBSITE. PART XI, LINE 9 THE OTHER CHANGES IN NET ASSETS OR FUND BALANCES CONSISTS OF AN INCREASE IN DONATED CAPITAL OF $150,730, AN INCREASE IN UNREDEEMED CAPITAL CREDITS OF $1,087,783, RETIREMENT OF CAPITAL CREDITS AND ESTATE PAYMENTS OF ($3,646,099), AND ASSIGNABLE MARGINS OF $8,099,781, TOTALING A NET CHANGE OF $5,692,195.