2026-07-21T13:05:10-05:00 2025-12-31 930623286 ALDRICH CPAS AND ADVISORS LLP 4275 COMMERCIAL ST SE 100 SALEM OR 97302 990 2025-01-01 920027674 NAKNEK ELECTRIC ASSOCIATION INC NAKN 9072464261 PO BOX 118 NAKNEK AK 99633 DIANNE KING GENERAL MANAGER 9072464261 2026-07-13 1 RYAN M JOHNSON CPA P01048788 5035857774 2026-07-13 2025 2025-03-06 01:10:19Z DIANNE KING PO BOX 118 NAKNEK AK 99633 13054861 0 X WWW.NAKNEKELECTRIC.COM X 1949 AK GENERATION AND SALE OF ELECTRICAL ENERGY TO THE COMMUNITIES OF NAKNEK, SOUTH NAKNEK AND KING SALMON, AK. 7 7 28 0 0 0 7937 2181261 12555207 10681582 126927 84459 194522 107559 12884593 13054861 0 0 0 0 242547 235257 0 0 0 12452152 12803340 12694699 13038597 189894 16264 45198038 45793844 29318864 29898434 15879174 15895410 GENERATION AND SALE OF ELECTRICAL ENERGY TO THE COMMUNITIES OF NAKNEK, SOUTH NAKNEK AND KING SALMON, AK. 0 0 GENERATION AND SALE OF ELECTRICAL ENERGY TO THE COMMUNITIES OF NAKNEK, SOUTH NAKNEK AND KING SALMON, AK. AT DECEMBER 31, 2025, 1,039 ELECTRIC LINES WERE IN SERVICE. 0 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 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 1 30 0 28 1 0 0 0 0 0 0 0 12857485 143825 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 0 1 1 0 0 X NAKNEK ELECTRIC ASSOCIATION 9072464261 1 SCHOOL ROAD NAKNEK AK 99633 TIMOTHY MCDERMOTT PRESIDENT 2.00 X X 1275 0 550 NANCI LYON VICE PRESIDENT 1.00 X X 2025 0 550 LISA ANDERSON SECRETARY/TREASURER 1.00 X X 1125 0 550 SYLVIA ALFORD DIRECTOR 1.00 X 1800 0 550 EARL HUBB DIRECTOR 1.00 X 225 0 349 CATHRYN STILES DIRECTOR 1.00 X 750 0 550 JUDY JO MATSON DIRECTOR 1.00 X 750 0 0 SARAH BRUCE DIRECTOR 1.00 X 225 0 0 DIANNE KING GENERAL MANAGER 50.00 X 167710 0 56272 JEFFERY KASHEVAROF PLANT FOREMAN 40.00 X 164751 0 52879 RYAN ANDERSON LINEMAN 40.00 X 152515 0 52858 MICHAEL JAMES OPERATOR 40.00 X 131264 0 52093 KENNETH PULICE OPERATIONS MANAGER 40.00 X 131076 0 50624 PERO SKARIC OPERATOR 40.00 X 122245 0 51921 877736 0 319746 13 0 1 0 HUBER CONSULTING GROUP 10310 S 16TH AVE PHOENIX AZ 85041 FINANCE & ACCOUNTING 258575 1 2181261 2181261 ELECTRIC REVENUES 221000 10077102 10077102 OTHER OPERATING REVENUES 221000 604480 604480 10681582 84459 84459 OTHER INCOME 525990 52250 52250 GAIN ON INVESTMENT 525990 49090 49090 PATRONAGE CAPITAL 525990 6219 6219 107559 13054861 10789141 0 84459 X 235257 504682 1326428 FUEL COST 4336113 POWER PRODUCTION 2716080 GENERAL & ADMINISTRATIV 1494113 DISTRIBUTION OPERATIONS 913117 1512807 13038597 944665 1464111 21015 21383 790310 1071694 4899940 4561869 16844593 15840068 45157300 26804585 17562392 18352715 4018429 3306012 116694 1175992 45198038 45793844 176410 334982 24139961 24403179 5002493 5160273 29318864 29898434 X 0 0 0 0 15879174 15895410 15879174 15895410 45198038 45793844 X 16264 -48 20 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 25453 25453 1966381 1309802 656579 40408262 25494783 14913479 2757204 2757204 18352715 INVESTMENTS-OTHER COST METHOD 1416442 C TD AMERITRADE ACCOUNTS 1889570 C 3306012 CONSUMER DEPOSITS 272369 ACCRUED LIABILITIES 427816 CURRENT PORTION LTD 1692558 CFC FUEL LOAN 2767530 5160273 X 13054813 -48 -48 13054861 0 13054861 13038597 0 13038597 0 13038597 PART X, LINE 2: THE ASSOCIATION FOLLOWS ACCOUNTING STANDARDS GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA RELATED TO THE RECOGNITION OF UNCERTAIN TAX POSITIONS. THE ASSOCIATION RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS AS PART OF THE INCOME TAX PROVISION, WHEN APPLICABLE. THE ASSOCIATION DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS AND THERE WERE NO AMOUNTS ACCRUED IN THE FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS IN 2025 OR 2024. X 0 0 0 DIANNE KING GENERAL MANAGER 167710 0 0 0 0 0 25156 0 31116 0 223982 0 0 0 JEFFERY KASHEVAROF PLANT FOREMAN 164751 0 0 0 0 0 22043 0 30836 0 217630 0 0 0 RYAN ANDERSON LINEMAN 152515 0 0 0 0 0 22056 0 30802 0 205373 0 0 0 MICHAEL JAMES OPERATOR 131264 0 0 0 0 0 21338 0 30755 0 183357 0 0 0 KENNETH PULICE OPERATIONS MANAGER 131076 0 0 0 0 0 19661 0 30963 0 181700 0 0 0 PERO SKARIC OPERATOR 122245 0 0 0 0 0 21213 0 30708 0 174166 0 0 0 PART I, LINE 3 THE BOARD OF DIRECTORS, BY VOTE, SETS THE RATE OF COMPENSATION FOR THE GENERAL MANAGER. FORM 990, PART VI, SECTION A, LINE 6 AN INDIVIDUAL MUST BECOME A MEMBER OF THE COOPERATIVE IN ORDER TO RECEIVE ELECTRIC SERVICE. MEMBERSHIP ENTITLES THE INDIVIDUAL TO VOTE AT THE ANNUAL MEETING, ANY SPECIAL MEMBERSHIP MEETINGS AND TO ELECT EACH DIRECTOR OF THE BOARD OF DIRECTORS. MINUTES ARE KEPT OF ALL MEETINGS AND ARE READ AND APPROVED AT SUBSEQUENT MEETINGS. FORM 990, PART VI, SECTION A, LINE 7A AN INDIVIDUAL MUST BECOME A MEMBER OF THE COOPERATIVE IN ORDER TO RECEIVE ELECTRIC SERVICE. MEMBERSHIP ENTITLES THE INDIVIDUAL TO VOTE AT THE ANNUAL MEETING, ANY SPECIAL MEMBERSHIP MEETINGS AND TO ELECT EACH DIRECTOR OF THE BOARD OF DIRECTORS. MINUTES ARE KEPT OF ALL MEETINGS AND ARE READ AND APPROVED AT SUBSEQUENT MEETINGS. FORM 990, PART VI, SECTION A, LINE 7B AN INDIVIDUAL MUST BECOME A MEMBER OF THE COOPERATIVE IN ORDER TO RECEIVE ELECTRIC SERVICE. MEMBERSHIP ENTITLES THE INDIVIDUAL TO VOTE AT THE ANNUAL MEETING, ANY SPECIAL MEMBERSHIP MEETINGS AND TO ELECT EACH DIRECTOR OF THE BOARD OF DIRECTORS. MINUTES ARE KEPT OF ALL MEETINGS AND ARE READ AND APPROVED AT SUBSEQUENT MEETINGS. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED BY THE BOARD OF DIRECTORS PRIOR TO SIGNING. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS SIGN AND FILE A WRITTEN CONFLICT OF INTEREST STATEMENT ANNUALLY. THE CONFLICT OF INTEREST POLICY IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS AND MANAGEMENT. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS, BY VOTE, SETS THE RATE OF COMPENSATION FOR THE GENERAL MANAGER. FORM 990, PART VI, SECTION C, LINE 19 MEMBERS ARE GIVEN A COPY OF THE ARTICLES OF INCORPORATION AND BY-LAWS AT THE TIME OF JOINING. COPIES OF CHANGES ARE GIVEN TO MEMBERS ANY TIME CHANGES ARE MADE. COPIES OF THE AUDITED FINANCIAL STATEMENTS ARE MAILED TO MEMBERS EACH YEAR WITH ANNUAL MEETING INFORMATION. THE TARIFF IS PUBLIC INFORMATION AND ANY CHANGES TO THE TARIFF ARE MADE AFTER PUBLIC MEETINGS ARE CONDUCTED. INFORMATION WILL BE PROVIDED ANY TIME UPON REQUEST. FORM 990, PART IX, LINE 24E OTHER EXPENSE 825,506. DISTRIBUTION MAINTENANCE 445,418. CONSUMER ACCOUNTS 229,155. TAXES 12,728. FORM 990, PART XI, LINE 9: CHANGE IN MEMBERSHIPS 20.