2026-08-11T18:12:02-05:00 2025-09-30 135565207 KPMG LLP 401 UNION STREET SUITE 2800 SEATTLE WA 98101 990 2024-10-01 920014224 CHUGACH ELECTRIC ASSOCIATION INC CHUG 9077624511 PO BOX 196300 ANCHORAGE AK 995196300 ARTHUR W MILLER CHIEF EXECUTIVE OFFICER 9077624511 2026-08-07 1 0 KYLE C SWARTHOUT P00951911 2069134000 2026-08-04 2024 2025-03-06 01:10:19Z ARTHUR W MILLER PO BOX 196300 ANCHORAGE AK 995196300 366260697 0 X WWW.CHUGACHELECTRIC.COM X 1948 AK 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. 7 7 518 0 0 0 0 0 275115816 362597077 1636578 2916136 286452 746276 277038846 366259489 138185 103176 -18884 9524105 2726838 3402200 0 0 0 274169010 354127739 277015149 367157220 23697 -897731 1886824613 1938323142 1669112161 1713876167 217712452 224446975 X SEE SCHEDULE O 0 0 SEE SCHEDULE O 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 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 0 0 1 181 0 1 518 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 193145816 7365632 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 RACHEL MORSE DIRECTOR 9.00 0.00 X 21491 0 0 BETTINA CHASTAIN DIRECTOR 6.00 0.00 X 17154 0 0 SUSANNE GREEN DIRECTOR 5.00 0.00 X 17801 0 0 JIM NORDLUND DIRECTOR 4.00 0.00 X 14692 0 0 MARK WIGGIN DIRECTOR 6.00 0.00 X 20040 0 0 STAINSLAVA COOPER DIRECTOR 7.00 0.00 X 15054 0 0 DAN ROGERS DIRECTOR 4.00 0.00 X 7544 0 0 ARTHUR MILLER CHIEF EXECUTIVE OFFICER 40.00 0.00 X 551718 0 144923 SHERRI HIGHERS CHIEF FINANCIAL OFFICER 40.00 0.00 X 364665 0 149103 ANDREW LAUGHLIN CHIEF OPERATING OFFICER 40.00 0.00 X 321335 0 92567 ALLAN RUDECK CHIEF STRATEGIC OFFICER 40.00 0.00 X 351872 0 84268 TIFFANY WILSON CHIEF HR OFFICER (THRU 12/24) 40.00 0.00 X 311009 0 33820 MATTHEW CLARKSON CHIEF LEGAL OFFICER 40.00 0.00 X 388439 0 67133 SHELDON NASLUND SUBSTATION FOREMAN 66.00 0.00 X 354943 0 87870 JEFFREY GILBERT SUBSTATION LINEMAN 63.00 0.00 X 291867 0 101337 MIKE SNELL SUBSTATION FOREMAN 59.00 0.00 X 285299 0 96944 MICHAEL BULLARD SUBSTATION FOREMAN 31.00 0.00 X 268307 0 63093 DAVID WADDELL POWER DISPATCHER 51.00 0.00 X 255832 0 75377 SAMUEL CASON DIRECTOR (THRU 05/24) 4.00 0.00 X 10828 0 0 3869890 0 996435 320 1 1 0 HILCORP ENERGY COMPANY PO BOX 61567 HOUSTON TX 772081567 GAS FIELD & TRANSPORT 92577419 COOK INLET NATURAL GAS STORAGE AK LLC 3000 SPENARD ROAD ANCHORAGE AK 99503 FUEL STORAGE 4643432 DELL MARKETING LP ONE DELL WAY ROUNDROCK TX 78682 IT EQUIPMENTS 2560722 WEG TRANSFORMERS USA LLC 6655 SUGARLOAF PKWY DULUTH GA 300974907 LIQUID FILLED 1622782 WILSON SONSINI GOODRICH 701 FIFTH AVENUE SEATTLE WA 98104 CONSULTING FEES 1545604 38 ELECTRIC REVENUE 221000 360013428 360013428 MICROWAVE SERVICES 221000 1171446 1171446 POLE RENTAL 221000 466703 466703 MEMBERSHIP DUES 221000 22085 22085 923415 923415 362597077 2852249 2852249 63383 63383 160282 0 160282 160282 160282 65095 1208 63887 63887 63887 MISC REVENUE - BELUGA 221000 522611 522611 522611 366259489 362716368 0 3543121 2237 2237 100939 100939 9524105 9524105 3402200 3402200 48746073 48746073 66581597 66581597 FUEL/ PURCHASED POWER 100659972 100659972 ADMIN & GENERAL 47984183 47984183 OTHER POWER PRODUCTION 37585530 37585530 DISTRIBUTION EXPENSE 31542259 31542259 21028125 21028125 367157220 315770837 51386383 0 28203209 24110577 45288250 53293768 70767433 73358912 110523638 107681625 2431871274 861713309 1529385686 1570157965 34926456 43723504 6420444 6223314 61309497 59773477 1886824613 1938323142 27108293 29287267 1254285243 1197875953 84000000 168500000 303718625 318212947 1669112161 1713876167 X 2043248 2065333 198671609 203934583 16997595 18447059 217712452 224446975 1886824613 1938323142 X -897731 7632254 X 0 1 X 1 0 29617445 29617445 256295068 96814925 159480143 2145958761 764898384 1381060377 1570157965 CONSUMER DEPOSITS 1637884 ACCRUED INTEREST 10867033 FUEL & FUEL COST PAYABLE 6020573 SALARIES, WAGES & BENEFITS 13887933 COST OF REMOVAL OBLIGATION 195695373 OPERATING LEASE LIABILITY 4159892 DEFERRED COMPENSATION & CREDIT 19263509 OTHER 66680750 318212947 1 CREDIT APPLIED TO ELECTRIC BILL 328 100939 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. X X X 1 1 X X X X 0 0 0 ARTHUR MILLER CHIEF EXECUTIVE OFFICER 470823 0 47102 0 33793 0 91142 0 53781 0 696641 0 0 0 SHERRI HIGHERS CHIEF FINANCIAL OFFICER 358160 0 0 0 6505 0 121925 0 27178 0 513768 0 0 0 MATTHEW CLARKSON CHIEF LEGAL OFFICER 361696 0 0 0 26743 0 18668 0 48465 0 455572 0 0 0 SHELDON NASLUND SUBSTATION FOREMAN 354943 0 0 0 0 0 62810 0 25060 0 442813 0 0 0 ALLAN RUDECK CHIEF STRATEGIC OFFICER 349274 0 0 0 2598 0 30210 0 54058 0 436140 0 0 0 ANDREW LAUGHLIN CHIEF OPERATING OFFICER 320248 0 0 0 1087 0 45063 0 47504 0 413902 0 0 0 JEFFREY GILBERT SUBSTATION LINEMAN 291867 0 0 0 0 0 76413 0 24924 0 393204 0 0 0 MIKE SNELL SUBSTATION FOREMAN 285299 0 0 0 0 0 72020 0 24924 0 382243 0 0 0 TIFFANY WILSON CHIEF HR OFFICER (THRU 12/24) 288730 0 0 0 22279 0 10822 0 22998 0 344829 0 0 0 MICHAEL BULLARD SUBSTATION FOREMAN 268307 0 0 0 0 0 48841 0 14252 0 331400 0 0 0 DAVID WADDELL POWER DISPATCHER 255832 0 0 0 0 0 50252 0 25125 0 331209 0 0 0 SAMUEL CASON DIRECTOR (THRU 05/24) 10828 0 0 0 0 0 0 0 0 0 10828 0 0 0 PART I, LINE 1A ONE OF CHUGACH'S EMPLOYEES WAS PROVIDED A HOUSING ALLOWANCE. IT IS CONSIDERED A TAXABLE BENEFIT AND AS SUCH, IS INCLUDED IN THEIR W-2 EARNINGS. 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. PART III LINE 4A CHUGACH ELECTRIC ASSOCIATION, INC. PROVIDES TRANSMISSION AND DISTRIBUTION SERVICES TO APPROXIMATELY 113,969 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 88,803 AS OF 9/30/2025. 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 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 XI, LINE 9: DONATED CAPITAL 231,654. UNREDEEMED CAPITAL CREDITS 1,217,811. RETIREMENT OF CAPITAL CREDITS AND ESTATE PAYMENTS -4,261,132. ASSIGNABLE MARGINS 9,524,105. AFUDC 925,411. CAPITAL CREDITS, PATRONAGE DIVIDENDS AND OTHER -108,771. GRANTS TO US GOV'S AND ORGS 2,237. GRANTS TO US INDIVIDUALS 100,939. CHUGACH ELECTRIC ASSOCIATION CHARITABLE FOUNDATION 5601 ELECTRON DR ANCHORAGE AK 995181074 334193823 CHARITABLE AK 501(C)(3) LINE 7 CHUGACH ELECTRIC ASSOCIATION 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0