2026-07-31T10:27:16-05:00 2025-09-30 930623286 ALDRICH CPAS AND ADVISORS LLP 4275 COMMERCIAL ST SE 100 SALEM OR 97302 990 2024-10-01 931192140 PACIFIC NORTHWEST GENERATING COOPERATIVE DBA PNGC POWER PACI 5032881234 8440 SE SUNNYBROOK BLVD 200 CLACKAMAS OR 97015 MICHAEL PETERSON CFO 5032881234 2026-07-28 1 1 RYAN M JOHNSON CPA P01048788 5035857774 2026-07-24 2024 2025-03-06 01:10:19Z MICHAEL D PETERSON 8440 SE SUNNYBROOK BLVD 200 CLACKAMAS OR 97015 289212783 0 X WWW.PNGCPOWER.COM X 1995 OR PNGC MAXIMIZES THE COMPETITIVE POSITION OF ITS MEMBERS BY ACQUIRING AND PROTECTING THE RESOURCES REQUIRED TO POWER ITS COLLECTIVE FUTURE. 25 25 20 0 0 0 0 0 254212311 282552770 1799789 1335371 0 0 256012100 283888141 0 0 0 0 4268872 5329180 0 0 0 249658483 274797309 253927355 280126489 2084745 3761652 59253921 66606226 28939306 31513578 30314615 35092648 PNGC MAXIMIZES THE COMPETITIVE POSITION OF ITS MENBERS BY ACQUIRING AND PROTECTING THE RESOURCES REQUIRED TO POWER ITS COLLECTIVE FUTURE. 0 0 MEETING THE ELECTRIC POWER AND TRANSMISSION REQUIREMENTS OF ITS DISTRIBUTION COOPERATIVE MEMBER-OWNERS. 0 0 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 24 0 20 1 0 0 0 0 0 278405640 6815400 0 0 0 X 25 25 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 1 0 X JOEY SCHOETTGER 5032881234 8440 SE SUNNYBROOK BLVD 200 CLACKAMAS OR 97015 RYAN REDMOND DIRECTOR 5.00 X 0 0 0 JOHN FRANCISCO DIRECTOR 5.00 X 0 0 0 JEFF JONES DIRECTOR 6.00 X 0 0 0 BRAD WILSON DIRECTOR 6.00 X 0 0 0 TELLY STANGER DIRECTOR 7.00 X 0 0 0 SCOTT PETERS DIRECTOR 5.00 X 0 0 0 JAMES RAMSEYER DIRECTOR 5.00 X 0 0 0 BRENT BISCHOFF SECRETARY/TREASURER 8.00 X X 0 0 0 KEITH BROOKS VICE CHAIR 8.00 X X 0 0 0 BRYAN CASE CHAIR 8.00 X X 0 0 0 MARK JOHNSON DIRECTOR 6.00 X 0 0 0 FRED FLIPPANCE DIRECTOR 5.00 X 0 0 0 MAX BEACH DIRECTOR 5.00 X 0 0 0 JASEN BRONEC DIRECTOR 5.00 X 0 0 0 DOUG ELLIOTT DIRECTOR 7.00 X 0 0 0 SCOTT COE DIRECTOR 3.00 X 0 0 0 MATT QUINN DIRECTOR 3.00 X 0 0 0 MARK HAYDEN DIRECTOR 5.00 X 0 0 0 ANNIE TERRACCIANO DIRECTOR 6.00 X 0 0 0 GREG MENDONCA DIRECTOR 4.00 X 0 0 0 FOSTER HILDRETH DIRECTOR 7.00 X 0 0 0 CHAD BLACK DIRECTOR 5.00 X 0 0 0 MARK GROTBO DIRECTOR 6.00 X 0 0 0 THAD BALLARD DIRECTOR 5.00 X 0 0 0 BILLI KOHLER DIRECTOR 6.00 X 0 0 0 JESSICA MATLOCK PRESIDENT & CEO 40.00 X 528377 0 55182 ERIN ERBEN SVP POWER SUPPLY & STRATEGY 40.00 X 307244 0 126255 TERESA STUBBLEFIELD-SKREEN VP ADMINISTRATION 40.00 X 202899 0 92904 ALISSA JACKSON VP & CFO 40.00 X 192652 0 85089 RICHARD REITEN VP GOV'T AFFAIRS & POLICY 40.00 X 194660 0 54422 ROGER GRAY PRESIDENT & CEO 40.00 X 230275 0 83120 JEFF KUGEL DIRECTOR, POWER SUPPLY 40.00 X 196448 0 92053 ALEX SWERZBIN DIRECTOR OF TRANSMISSION & MARKETS 40.00 X 178315 0 90886 BRAD WESTMORELAND POWER SUPPLY ANALYST 40.00 X 137263 0 13493 KORI LINTNER MANAGER OF ACCOUNTING 40.00 X 122667 0 77324 WILLIAM BIEGEL OPERATIONS SUPERVISOR 40.00 X 130219 0 38191 2421019 0 808919 13 0 1 0 MARCH COUNSEL LLC 1201 CONNECTICUT AVE NW WASHINGTON DC 20036 LEGAL CONSULTATION 425047 ICF INCORPORATED LLC 1725 I EYE STREET NW SUITE 100 WASHINGTON DC 20006 GRANT AND PROJECT MANAGEMENT 329887 2 POWER SALES 221000 282552770 282552770 282552770 1555117 1555117 5104896 5324642 -219746 -219746 -219746 283888141 282552770 0 1335371 1839685 2275913 544161 408543 260878 424392 65921 107006 971771 330057 309631 183750 253142 31551 611873 260925 PURCHASED POWER 235469721 TRANSMISSION EXPENSE 33597800 OPG EXPENSES 1659773 ASSOCIATION DUES 519852 144 280126489 182398 697427 15613775 17293085 15977493 21523898 21743 19128 301103 346045 12075450 6157497 6061739 5917953 20403945 20294202 74199 66399 10000 10000 607526 438089 59253921 66606226 20155852 23828260 8783454 7685318 28939306 31513578 X 241209 323437 0 0 30073406 34769211 30314615 35092648 59253921 66606226 X 3761652 934153 82228 X 0 1 X 1 0 18788 3758 15030 11616457 6153739 5462718 440205 440205 5917953 MARKETABLE SECURITIES 20294202 F 20294202 DEFERRED CREDITS 7602748 LEASE 82570 7685318 X 284822294 934153 934153 283888141 0 283888141 280126489 0 280126489 0 280126489 PART X, LINE 2: THE COOPERATIVE FOLLOWS ACCOUNTING STANDARDS GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA RELATED TO THE RECOGNITION OF UNCERTAIN TAX POSITIONS. THE COOPERATIVE RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS AS PART OF THE INCOME TAX PROVISION, WHEN APPLICABLE. THERE ARE NO AMOUNTS ACCRUED IN THE FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS IN 2025 OR 2024. THE COOPERATIVE FILES FEDERAL, STATE AND LOCAL INFORMATIONAL AND INCOME TAX RETURNS. X X X X 0 0 0 JESSICA MATLOCK PRESIDENT & CEO 524412 0 0 0 3965 0 24368 0 30814 0 583559 0 0 0 ERIN ERBEN SVP POWER SUPPLY & STRATEGY 255744 0 21000 0 30500 0 84974 0 41281 0 433499 0 0 0 ROGER GRAY PRESIDENT & CEO 161775 0 38000 0 30500 0 73391 0 9729 0 313395 0 0 0 TERESA STUBBLEFIELD-SKREEN VP ADMINISTRATION 151399 0 21000 0 30500 0 60555 0 32349 0 295803 0 0 0 JEFF KUGEL DIRECTOR, POWER SUPPLY 181948 0 14500 0 0 0 50968 0 41085 0 288501 0 0 0 ALISSA JACKSON VP & CFO 148652 0 21000 0 23000 0 53740 0 31349 0 277741 0 0 0 ALEX SWERZBIN DIRECTOR OF TRANSMISSION & MARKETS 159104 0 14500 0 4711 0 49605 0 41281 0 269201 0 0 0 RICHARD REITEN VP GOV'T AFFAIRS & POLICY 156700 0 21000 0 16960 0 53491 0 931 0 249082 0 0 0 KORI LINTNER MANAGER OF ACCOUNTING 95499 0 14500 0 12668 0 36043 0 41281 0 199991 0 0 0 WILLIAM BIEGEL OPERATIONS SUPERVISOR 96483 0 14500 0 19236 0 35157 0 3034 0 168410 0 0 0 BRAD WESTMORELAND POWER SUPPLY ANALYST 121781 0 8500 0 6982 0 13493 0 0 0 150756 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION IS A UTILITY COOPERATIVE SERVING ITS MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE BOARD OF DIRECTORS BY A MAJORITY VOTE OF THE NUMBER OF MEMBERS PRESENT, ENTITLED TO VOTE, AND VOTING AT A MEETING IN WHICH A QUORUM IS PRESENT. THE TERMS OF THE DIRECTORS ARE STAGGERED. FORM 990, PART VI, SECTION A, LINE 7B CERTAIN GOVERNANCE DECISIONS ARE RESERVED TO OR SUBJECT TO APPROVAL BY A MAJORITY VOTE OF THE NUMBER OF MEMBERS PRESENT, ENTITLED TO VOTE, AND VOTING AT A MEETING AT WHICH A QUORUM IS PRESENT: 1. ELECTION OF THE BOARD OF DIRECTORS 2. REINSTATEMENT OF AN EXPELLED MEMBER UNDER CERTAIN CONDITIONS; AND 3. DISPOSITION OF ALL OR SUBSTANTIALLY ALL PNGC PROPERTY, WITH CERTAIN EXCEPTIONS RELATED TO THE PLEDGING OR ENCUMBERING OR PROPERTY OR ASSETS. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEES CAN ONLY RECOMMEND ACTIONS TO THE FULL BOARD. THEY CANNOT ACT ON BEHALF OF THE GOVERNING BODY WITHOUT BOARD AFFIRMATION. FORM 990, PART VI, SECTION B, LINE 11B A FINAL DRAFT OF THE FORM 990 IS SENT TO THE BOARD ELECTRONICALLY FOR THEIR REVIEW AND COMMENT PRIOR TO ISSUANCE. FORM 990, PART VI, SECTION B, LINE 12C THE COMPLIANCE POLICY IS REVIEWED ON AN ANNUAL BASIS AND DISCUSSED WITH DIRECTORS AND KEY EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 15 NATIONAL SURVEYS ARE USED TO ASSESS THE PAY SCALES FOR EXECUTIVE POSITIONS ANNUALLY AND ALL DECISIONS GO BEFORE THE BOARD FOR APPROVAL. EVERY 3-5 YEARS A CONSULTING FIRM, SUCH AS MILLIMAN, IS HIRED TO DO A COMPENSATION SURVEY. INDIVIDUAL SALARY ACTIONS ARE BASED ON PERFORMANCE WITHIN THE RANGE ESTABLISHED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMETNS ARE NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: MEMBERSHIPS 82,228.