2025-11-14T17:04:50-06:00 2024-09-30 135565207 KPMG LLP 550 S HOPE STREET LOS ANGELES CA 90071 990 2024-01-01 920014224 CHUGACH ELECTRIC ASSOCIATION INC CHUG 9077624511 PO BOX 196300 ANCHORAGE AK 995196300 ARTHUR W MILLER CHIEF EXECUTIVE OFFICER 9077624511 2025-11-12 1 0 DAVID M HIGHFILL P01517891 2139724000 2025-11-14 2024 2025-03-06 01:10:19Z ARTHUR W MILLER PO BOX 196300 ANCHORAGE AK 995196300 277384380 0 X WWW.CHUGACHELECTRIC.COM X 1948 AK SEE SCHEDULE O 7 7 0 0 0 0 0 0 363089831 275115816 1821338 1636578 196369 286452 365107538 277038846 145857 138185 8099781 -18884 2669696 2726838 0 0 0 354158822 274169010 365074156 277015149 33382 23697 1807919630 1886824613 1589858577 1669112161 218061053 217712452 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 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 136437310 4295374 0 0 0 X 7 7 0 0 0 0 1 1 1 1 0 1 0 1 1 1 1 1 1 1 0 0 AK X SHERRI L HIGHERS 9077624511 5601 ELECTRON DRIVE ANCHORAGE AK 995181074 X X RACHEL MORSE DIRECTOR 9.00 0.00 X 0 0 0 BETTINA CHASTAIN DIRECTOR 6.00 0.00 X 0 0 0 SUSANNE GREEN DIRECTOR 5.00 0.00 X 0 0 0 JIM NORDLUND DIRECTOR 4.00 0.00 X 0 0 0 MARK WIGGIN DIRECTOR 6.00 0.00 X 0 0 0 STAINSLAVA COOPER DIRECTOR 7.00 0.00 X 0 0 0 DAN ROGERS DIRECTOR 4.00 0.00 X 0 0 0 SAMUEL CASON DIRECTOR (THRU 05/24) 4.00 0.00 X 0 0 0 ARTHUR MILLER CHIEF EXECUTIVE OFFICER 40.00 0.00 X 0 0 0 SHERRI HIGHERS CHIEF FINANCIAL OFFICER 40.00 0.00 X 0 0 0 ANDREW LAUGHLIN CHIEF OPERATING OFFICER 40.00 0.00 X 0 0 0 ALLAN RUDECK CHIEF STRATEGIC OFFICER 40.00 0.00 X 0 0 0 MATTHEW CLARKSON CHIEF LEGAL OFFICER 40.00 0.00 X 0 0 0 TIFFANY WILSON CHIEF HR OFFICER 40.00 0.00 X 0 0 0 0 0 0 ELECTRIC REVENUE 221000 273289352 273289352 MICROWAVE SERVICES 221000 651208 651208 POLE RENTAL 221000 330221 330221 MEMBERSHIP DUES 221000 23695 23695 CAPITAL CREDITS 221000 193 193 821147 821147 275115816 1930041 1930041 28367 28367 3600 0 3600 3600 3600 52071 345534 -293463 -293463 -293463 MISC REVENUE - BELUGA CAMP 221000 254485 254485 254485 277038846 274785595 0 2253251 2000 2000 136185 136185 -18884 -18884 2726838 2726838 34200255 34200255 60739582 60739582 FUEL/PURCHASED POWER 76120522 76120522 ADMIN & GENERAL 35254530 35254530 OTHER POWER PRODUCTION 30147638 30147638 DISTRIBUTION EXPENSE 22145009 22145009 15561474 15561474 277015149 239033781 37981368 0 5472490 28203209 62436741 45288250 63822191 70767433 108643454 110523638 2351479318 822093632 1488684506 1529385686 27457774 34926456 6635234 6420444 44767240 61309497 1807919630 1886824613 34146210 27108293 1141710367 1254285243 138000000 84000000 276002000 303718625 1589858577 1669112161 X 2019553 2043248 182190239 198671609 33851261 16997595 218061053 217712452 1807919630 1886824613 X 23697 -372298 X 0 1 X 1 0 27307557 27307557 233138174 90149911 142988263 2091033587 731943721 1359089866 1529385686 CONSUMER DEPOSITS 3846531 ACCRUED INTEREST 11470359 FUEL & FUEL COST PAYABLE 5997341 SALARIES, WAGES & BENEFITS 13498935 COST OF REMOVAL OBLIGATION 167184454 OPERATING LEASE LIABILITY 3751433 DEFERRED COMPENSATION & CREDIT 14028355 BRU REGULATORY LIABILITY AND OTHER 83941217 303718625 X 277205447 190296 190296 277015151 23695 23695 277038846 277224329 0 277224329 -209180 -209180 277015149 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, 2023 THROUGH SEPTEMBER 30, 2024 FOR UNITED STATES FEDERAL INCOME TAX, THE TAX YEARS WHICH REMAIN SUBJECT TO EXAMINATION BY MAJOR TAX JURISDICTIONS AS OF SEPTEMBER 30, 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: AFUDC 328,481. DONATIONS -138,185. PART XI, LINE 4B - OTHER ADJUSTMENTS: MEMBERSHIPS 23,695. PART XII, LINE 4B - OTHER ADJUSTMENTS: DONATIONS 138,185. AFUDC -328,481. ASSIGNABLE MARGINS -18,884. 1 CREDIT APPLIED TO ELECTRIC BILL 427 135000 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. 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 113,635 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 V, LINES 1 AND 2: CHUGACH ELECTRIC ASSOCIATION, INC. CHANGED ITS 12/31 YEAR END TO A 9/30 FISCAL YEAR END AND FILED A FORM 990 FOR THE SHORT PERIOD FROM 1/1/2024 TO 9/30/2024. BECAUSE NO TAX YEAR ENDED WITHIN THE SHORT YEAR, NO FORMS 1099 OR W-2 WERE FILED FOR THE REPORTING PERIOD. FORM 990, PART VI FORM 990, PART VI, SECTION A, LINE 9 SOME OF THE INDIVIDUALS CANNOT BE REACHED AT THE ORGANIZATION'S MAILING ADDRESS. THIS INFORMATION IS AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS AN ELECTRIC COOPERATIVE WHICH IS OWNED BY ITS MEMBERS, APPROXIMATELY 90,280 AS OF 09/30/24. 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. FORM 990, PART VII, SECTION A AND SCHEDULE J, PART II: CHUGACH ELECTRIC ASSOCIATION, INC. CHANGED ITS 12/31 YEAR END TO A 9/30 FISCAL YEAR END AND FILED A FORM 990 FOR THE SHORT PERIOD FROM 1/1/2024 TO 9/30/2024. COMPENSATION INFORMATION IS NOT BEING REPORTED IN ACCORDANCE WITH THE FORM 990 FILING INSTRUCTIONS FOR SHORT PERIOD RETURNS. FORM 990, PART XI, LINE 9: DONATED CAPITAL 221,036. UNREDEEMED CAPITAL CREDITS -56,128. RETIREMENT OF CAPITAL CREDITS AND ESTATE PAYMENTS -518,322. ASSIGNABLE MARGINS -18,884. CHANGE IN ACCOUNTING PERIOD: CHUGACH ELECTRIC ASSOCIATION, INC. CHANGED ITS 12/31 YEAR END TO A 9/30 FISCAL YEAR END AND FILED A FORM 990 FOR THE SHORT PERIOD FROM 1/1/2024 TO 9/30/2024. REVENUE PROCEDURE 85-58 RULES APPLY. TAXPAYER IS PURSUING A PRIVATE LETTER RULING UNDER SECTION 301.9100-3 REGARDING THIS CHANGE.