2024-10-16T17:02:37-05:00 2023-12-31 910189318 MOSS ADAMS LLP 805 SW BROADWAY STE 1400 PORTLAND OR 97205 990 2023-01-01 920007954 MATANUSKA ELECTRIC ASSOCIATION INC MATA 9077613231 163 E INDUSTRIAL WAY PALMER AK 99645 BILL KENDIG PRESIDENT 9077613231 2024-10-16 1 1 WENDY CAMPOS P00448102 5032421447 2024-10-16 2023 2024-10-15 13:58:12Z BILL KENDIG 163 E INDUSTRIAL WAY PALMER AK 99645 166165688 0 X WWW.MEA.COOP X 1941 AK ENERGY SALES TO 70,322 MEMBER CUSTOMERS. 7 7 253 18 0 0 0 0 162115649 165323927 343599 318585 490186 485223 162949434 166127735 18000 25000 7912053 10173570 1163040 1316586 0 0 0 153856341 154612579 162949434 166127735 0 0 632665151 648703351 442185381 451411897 190479770 197291454 TO PROVIDE SAFE RELIABLE ENERGY AT REASONABLE RATES WITH EXCEPTIONAL MEMBER SERVICE AND COMMITMENT TO THE COMMUNITY WE SERVE. 0 0 ENERGY SALES TO 70,322 MEMBER CUSTOMERS 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 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 724 0 1 253 1 0 0 0 0 0 168378058 4485376 0 0 0 X 7 7 0 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X MATTHEW J REISTERER 9077613231 163 E INDUSTRIAL WAY PALMER AK 99645 X BILL KENDIG PRESIDENT 4.00 X X 9163 0 0 DAN TUCKER SECRETARY-TREASURER 5.00 X X 8300 0 0 ARTHUR KEYES DIRECTOR 2.00 X 7924 0 0 MARK HAMM DIRECTOR 5.00 X 7383 0 0 MARK MASTELLER VICE PRESIDENT 5.00 X X 7317 0 0 MAXWELL SUMNER DIRECTOR 2.00 X 6733 0 0 PETER BURCHELL DIRECTOR THROUGH 5/8/23 1.00 X 3833 0 0 ANASTASIA BURETTA DIRECTOR 3.00 X 3650 0 0 ANTHONY M IZZO CHIEF EXECUTIVE OFFICER 60.00 X 633607 0 162257 MATTHEW J REISTERER CHIEF FINANCIAL OFFICER 50.00 X 331533 0 307330 BRIAN J HICKEY SENIOR ADVISOR TO THE CEO 0.00 X 420161 0 169430 EDWARD M JENKIN CHIEF ENERGY TRANSFORMATIO OFFICER 50.00 X 324520 0 161306 DAVID W ROBY SUBFOREMAN LINEMAN 69.00 X 321506 0 83210 TONY G HARDWICK JOURNEYMAN LINEMAN 69.00 X 298988 0 82455 WYATT A SCHMIEGE SUBFOREMAN LINEMAN 66.00 X 293417 0 59763 2678035 0 1025751 127 0 1 0 ALASKA LINE BUILDERS LLC PO BOX 521405 BIG LAKE AK 99652 ELECTRICAL CONSTRUCTION 3931121 ELECTRIC POWER CONSTRUCTORS INC 3305 ARCTIC BLVD 201 ANCHORAGE AK 99503 ELECTRICAL CONSTRUCTION 3506170 LINEWORKS LLC PO BOX 201146 ANCHORAGE AK 99520 ELECTRICAL CONSTRUCTION 2347242 ELECTRO-TECHNICAL INDUSTRIES INC PO BOX 91388 HOUSTON TX 77291 ELECTRICAL CONSTRUCTION 1350893 ELECTRIC POWER SYSTEMS INC 3305 ARCTIC BLVD 201 ANCHORAGE AK 99503 ENGINEERING CONSULTANT 1110057 35 ENERGY SALES 221000 161508219 161508219 OTHER ELECTRIC REVENUE 221000 1785071 1785071 PATRONAGE ALLOCATIONS 221000 1658725 1658725 ALLOW/FUNDS USED CONST 221000 241597 241597 TRANSMISSION REVENUE 221000 130315 130315 165323927 270060 270060 4620 9842 -5222 -5222 -5222 76636 28111 48525 48525 48525 POLE RENTAL 900099 490445 490445 490445 166127735 165323927 0 803808 25000 10173570 1316586 18014166 24442168 COST OF POWER & PROD. 70819377 DISTR. OPS. & MAINT. 19347254 ADMIN. & GENERAL EXP. 12842824 CONS. ACCTS & CUST SRVC 6873864 2272926 166127735 5368 5368 4670000 1812500 13143415 12794228 19742969 23201062 5894611 6618756 874369710 300065789 559813344 574303921 17296061 18266197 12099383 11701319 632665151 648703351 12721018 11486071 415537123 425991436 13927240 13934390 442185381 451411897 X 0 0 182567717 187117884 7912053 10173570 190479770 197291454 632665151 648703351 X 0 6811684 X 0 1 X 1 1 1 11555882 11555882 132188686 9261991 122926695 703023707 290803798 412219909 27601435 27601435 574303921 CONSUMER DEPOSITS 2736605 OTHER CURRENT & ACCRUED LIABILITIES 6639754 DEFERRED CREDITS 2775833 MISC OP RESERVES/ACCUM OP PROVISIONS 1318139 OBLIGATIONS UNDER CAPITAL LEASES 464059 13934390 X 166127735 0 166127735 0 166127735 155954165 0 155954165 10173570 10173570 166127735 PART X, LINE 2: (ASC 740 FOOTNOTE TEXT) - THE ASSOCIATION IS EXEMPT FROM FEDERAL INCOME TAXES PURSUANT TO SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE ASSOCIATION FILES AN EXEMPT ORGANIZATION TAX RETURN IN THE US FEDERAL JURISDICTION. EFFECTIVE JANUARY 1, 2009 THE ASSOCIATION ADOPTED FASB ASC 740-10, RELATING TO ACCOUNTING FOR UNCERTAIN TAX POSITIONS. AS OF DECEMBER 31, 2023 AND 2022 THE ASSOCIATION HAD NO UNCERTAIN TAX POSITIONS, AND NO PROVISION FOR INCOME TAXES, CONSISTENT WITH ITS TAX EXEMPT STATUS. PART XII, LINE 4B - OTHER ADJUSTMENTS: PATRONAGE DIVIDENDS PAID (ASSIGNABLE TO MEMBERS) 10,173,570. 1 SCHOLARSHIPS 8 25000 PART I, LINE 2: SCHOLARSHIP RECIPIENTS ARE SELECTED BY THE SCHOLARSHIP COMMITTEE BASED ON ESTABLISHED CRITERIA AND SCORING GUIDELINES, AND FUNDS ARE DISBURSED DIRECTLY TO THE U.S BASED EDUCATIONAL INSTITUTION UPON VERIFICATION OF ENROLLMENT. X X X X X 0 0 0 ANTHONY M IZZO CHIEF EXECUTIVE OFFICER 498760 0 40000 0 94847 0 117531 0 46113 0 797251 0 0 0 MATTHEW J REISTERER CHIEF FINANCIAL OFFICER 306710 0 20000 0 4823 0 260706 0 48011 0 640250 0 0 0 BRIAN J HICKEY SENIOR ADVISOR TO THE CEO 409619 0 0 0 10542 0 124703 0 46113 0 590977 0 0 0 EDWARD M JENKIN CHIEF ENERGY TRANSFORMATIO OFFICER 300762 0 15000 0 8758 0 114804 0 47889 0 487213 0 0 0 DAVID W ROBY SUBFOREMAN LINEMAN 319411 0 0 0 2095 0 55118 0 28092 0 404716 0 0 0 TONY G HARDWICK JOURNEYMAN LINEMAN 298158 0 0 0 830 0 54363 0 28092 0 381443 0 0 0 WYATT A SCHMIEGE SUBFOREMAN LINEMAN 292738 0 0 0 679 0 31671 0 28092 0 353180 0 0 0 SCHEDULE J, PART II, LINE 3: DURING 2023, BRIAN HICKEY, WHO IS EMPLOYED BY MATANUSKA ELECTRIC ASSOCIATION, INC. WAS FULLY SECONDED TO THE BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE IN SUPPORT OF ITS WORK ADVANCING ALASKA RAILBELT-WIDE PROJECTS. THE ASSOCIATION RECEIVES FULL REIMBURSEMENT FOR THIS SECONDMENT, GIVEN THAT ALL OF MR. HICKEY'S LABOR HOURS WERE DEDICATED TO THIS ROLE. FORM 990, PART VI, SECTION A, LINE 4 IN THE APRIL 25, 2023 ELECTION BY THE MEMBERS, THE FOLLOWING BYLAW CHANGES WERE PASSED: BYLAW CHANGES WERE ADOPTED TO ALLOW FORMER MEMBER DEBT TO BE OFFSET WITH CAPITAL CREDITS AT THE BOARD'S DISCRETION; TO DEFINE "PATRON; TO AMEND THE DEFINITION OF MEMBER IN "GOOD STANDING; AND TO RECOGNIZE TRIBAL GOVERNMENT IN THE "ENTITY" DEFINITION. FORM 990, PART VI, SECTION A, LINE 6 THE ASSOCIATION HAS ONE CLASS OF MEMBER-OWNERS, ENTITLED TO ONE VOTE EACH, THAT ELECTS THE BOARD OF DIRECTORS TO REPRESENT THEM. FORM 990, PART VI, SECTION A, LINE 7A THE ASSOCIATION HAS ONE CLASS OF MEMBER-OWNERS, ENTITLED TO ONE VOTE EACH, THAT ELECTS THE BOARD OF DIRECTORS TO REPRESENT THEM. FORM 990, PART VI, SECTION A, LINE 7B THE ASSOCIATION HAS ONE CLASS OF MEMBER-OWNERS, ENTITLED TO ONE VOTE EACH, WHOSE AUTHORIZATION IS REQUIRED FOR THE ASSOCIATION TO SELL, LEASE, OR OTHERWISE DISPOSE OF ALL OR A SUBSTANTIAL PORTION OF THE ASSOCIATION'S PROPERTY, OR AUTHORIZE THE MERGER OR CONSOLIDATION OF THE ASSOCIATION WITH ANOTHER COOPERATIVE OR ENTITY. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 WAS REVIEWED BY THE ASSOCIATION'S TAX ADVISOR, AND THEN REVIEWED WITH THE BOARD FINANCE COMMITTEE AND PROVIDED TO THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ASSOCIATION BYLAWS AND MANAGEMENT POLICIES PROVIDE GUIDELINES FOR AVOIDING AND DISCLOSING POTENTIAL CONFLICTS OF INTEREST. THE AGENDA FOR EACH REGULAR MONTHLY MEETING OF THE BOARD OF DIRECTORS INCLUDES AN AGENDA ITEM FOR DIRECTOR DISCLOSURES. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING THE COMPENSATION FOR THE CHIEF EXECUTIVE OFFICER WAS BASED ON AN UPDATED EMPLOYMENT AGREEMENT AND COMPENSATION MARKET ANALYSIS. THIS PROCESS WAS LAST UNDERTAKEN BY THE BOARD OF DIRECTORS IN 2023. FORM 990, PART VI, SECTION B, LINE 15B: BOARD OFFICERS, LIKE OTHER BOARD MEMBERS, DO NOT RECEIVE A SALARY, BUT ARE PAID A FIXED FEE FOR EACH DAY OF ATTENDANCE AT A MEETING OF THE BOARD. THE FEE IS DETERMINED ANNUALLY BASED ON THE AVERAGE FIXED FEE PAID TO BOARD MEMBERS OF OTHER NON-PROFIT ELECTRIC COOPERATIVES IN ALASKA SERVING MORE THAN 20,000 MEMBERS. THE PROCESS FOR DETERMINING THE COMPENSATION FOR A KEY EMPLOYEE OTHER THAN THE CHIEF EXECUTIVE OFFICER IS BASED ON PERFORMANCE EVALUATIONS BY THE CHIEF EXECUTIVE OFFICER. ADJUSTMENTS ARE MADE IN ACCORDANCE WITH BOARD POLICIES 102-2, DELEGATION OF AUTHORITY BY THE BOARD OF DIRECTORS TO THE CHIEF EXECUTIVE OFFICER, AND 302-1, NONREPRESENTED COMPENSATION PLAN. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION BYLAWS PROVIDE FOR THE MEMBERS ABILITY TO EXAMINE AND MAKE COPIES OF THE BOOKS AND RECORDS OF THE ASSOCIATION AT A REASONABLE TIME AND FOR A PROPER PURPOSE IN ACCORDANCE WITH ALASKA STATUTES. FORM 990, PART VII, SECTION A, LINE 1A: DURING 2023, BRIAN HICKEY, WHO IS EMPLOYED BY MATANUSKA ELECTRIC ASSOCIATION, INC. WAS FULLY SECONDED TO THE BRADLEY LAKE PROJECT MANAGEMENT COMMITTEE IN SUPPORT OF ITS WORK ADVANCING ALASKA RAILBELT-WIDE PROJECTS. THE ASSOCIATION RECEIVES FULL REIMBURSEMENT FOR THIS SECONDMENT, GIVEN THAT ALL OF MR. HICKEY'S LABOR HOURS WERE DEDICATED TO THIS ROLE. FORM 990, PART XI, LINE 9: INCREASE IN MEMBERSHIPS 4,045. INCREASE IN OTHER MARGINS & EQUITIES 357,051. PATRONAGE CAPITAL RETIRED -3,722,982. PATRONAGE DIVIDENDS PAID (ASSIGNABLE TO MEMBERS) 10,173,570. ALASKA ELECTRIC GENERATION & TRANSMISSION INC - CLASS B 163 E INDUSTRIAL WAY PALMER AK 99645 920099222 G&T - COOPERATIVE AK N/A C 100 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0