Nonprofit · EIN 91-0361270
PENINSULA LIGHT COMPANY INC
Tax-exempt · GIG HARBOR, WA 98332
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $68,040,592 | $62,408,558 | $5,632,034 | $215,605,848 | $34,661,054 | $180,944,794 |
| December 31, 2023 | 990 | $66,185,127 | $58,898,606 | $7,286,521 | $211,233,014 | $34,750,753 | $176,482,261 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $65,167,847
- Investment income
- $2,383,992
- Net rental income
- $28,800
- Net gain from sales of assets
- $27,937
- Other revenue
- $488,753
Expenses
- Grants and similar amounts paid
- $0
- Compensation of officers, directors and key employees
- $1,498,156
- Other salaries and wages
- $6,239,906
- Salaries, compensation and benefits (total)
- $10,833,616
- Professional fundraising fees
- $0
- Depreciation
- $9,065,814
Balance sheet and other
- Total assets, start of year
- $211,233,014
- Total assets, end of year
- $215,605,848
- Total liabilities, end of year
- $34,661,054
- Net assets, end of year
- $180,944,794
- Land, buildings and equipment
- $136,301,107
- Gross receipts
- $68,040,592
- Employees
- 94
- Volunteers
- 0
- Year formed
- 1925
- State of legal domicile
- WA
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAFAR TAGHAVI | CEO Officer | 40 | $564,449 | $49,326 |
| BRIAN WAHTO | JOURNEYMAN LINEMAN Highest-paid employee | 40 | $278,091 | $73,836 |
| ANDY SORENSEN | WORKING FOREMAN Highest-paid employee | 40 | $293,359 | $41,350 |
| DANA HANCOCK | CBO Officer | 40 | $199,780 | $131,856 |
| JASON EDLUND | JOURNEYMAN LINEMAN Highest-paid employee | 40 | $273,923 | $46,476 |
| BRAIN CROSBY | WORKING FOREMAN Highest-paid employee | 40 | $224,576 | $66,687 |
| AMY GRICE | COO Officer | 40 | $197,003 | $73,392 |
| RICHARD HART | JOURNEYMAN LINEMAN Highest-paid employee | 40 | $241,187 | $18,911 |
| SCOTT JUNGE | PRESIDENT Trustee or director, Officer | 6 | $35,000 | $0 |
| SIGNO UDDENBERG | DIRECTOR Trustee or director | 6 | $33,300 | $0 |
| DEBRA ROSS | VICE PRESIDENT Trustee or director, Officer | 6 | $31,800 | $0 |
| JIM SMALLEY | SECRETARY Trustee or director, Officer | 6 | $31,550 | $0 |
| MARC JORGENSON | TREASURER Trustee or director, Officer | 6 | $31,050 | $0 |
| L PAUL ALVESTAD | DIRECTOR Trustee or director | 20 | $30,850 | $0 |
| ROGER SPADONI | DIRECTOR Trustee or director | 6.8 | $30,750 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| ERIN GATHERUM | DIRECTOR Trustee or director | 6 | $30,650 |
| NICK MARKOVICH | DIRECTOR Trustee or director | 3 | $27,400 |
990 for the year ended December 31, 2023: 17 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| JAFAR TAGHAVI | CEO Officer | 40 | $757,803 | $51,720 |
| ANDY SORENSEN | WORKING FOREMAN Highest-paid employee | 40 | $260,538 | $49,601 |
| RICKY SCHROEDER | WIRE FOREMAN Highest-paid employee | 40 | $195,887 | $108,592 |
| BRIAN WAHTO | JOURNEYMAN LINEMAN Highest-paid employee | 40 | $229,258 | $69,438 |
| DANA HANCOCK | CBO Officer | 40 | $180,569 | $99,585 |
| AMY GRICE | COO Key employee | 40 | $188,761 | $70,490 |
| JASON EDLUND | JOURNEYMAN LINEMAN Highest-paid employee | 40 | $209,411 | $46,654 |
| RICHARD HART | JOURNEYMAN LINEMAN Highest-paid employee | 40 | $192,621 | $24,950 |
| SCOTT JUNGE | PRESIDENT Trustee or director, Officer | 6 | $36,750 | $0 |
| L PAUL ALVESTAD | DIRECTOR Trustee or director | 20 | $36,500 | $0 |
| SIGNO UDDENBERG | DIRECTOR Trustee or director | 6 | $36,050 | $0 |
| DEBRA ROSS | VICE PRESIDENT Trustee or director, Officer | 6 | $35,500 | $0 |
| ERIN GATHERUM | DIRECTOR Trustee or director | 4.61 | $31,450 | $0 |
| MARC JORGENSON | TREASURER Trustee or director, Officer | 6 | $31,250 | $0 |
| JIM SMALLEY | SECRETARY Trustee or director, Officer | 5 | $31,050 | $0 |
| NICK MARKOVICH | DIRECTOR Trustee or director | 5 | $30,550 | $0 |
| ROGER SPADONI | DIRECTOR Trustee or director | 6.5 | $27,800 | $0 |
Address and contacts
- Address (IRS master file)
- 13315 GOODNOUGH DR NW, GIG HARBOR, WA 98332-8640
- In care of
- % CEO & CBO
- Principal officer (990 for 2024)
- JAFAR TAGHAVI, 13315 GOODNOUGH DR NW, GIG HARBOR, WA 98332
- Signed the 990
- JAFAR TAGHAVI, CEO
- Phone
- (253) 857-5950
- Website
- WWW.PENLIGHT.ORG
- Return prepared by
- BOLINGER SEGARS GILBERT AND MOSS LLP
Mission
ALL ACTIVITIES ARE THE RESULT OF PROVIDING ELECTRICITY AND WATER TO MEMBERS AND OPERATING THE COMPANY IN A FISCALLY RESPONSIBLE MANNER CONSISTENT WITH THE PURPOSE OF THE MUTUAL CORPORATION.
Program accomplishments
- SALE AND DISTRIBUTION OF ELECTRICITY TO MEMBERS ON A MUTUAL BASIS. THERE WERE 32,310 ACTIVE ELECTRIC SERVICES AT YEAR END.
- SALE AND DISTRIBUTION OF WATER TO MEMBERS ON A MUTUAL BASIS. THERE WERE 3,400 ACTIVE WATER SERVICES AT YEAR END.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 91-0361270
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1927
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $215,605,848
- Income (IRS master file)
- $68,040,592
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $68,040,592 | $62,408,558 | $215,605,848 | XML |
| 990 | December 2023 | $66,185,127 | $58,898,606 | $211,233,014 | XML |
| 990 | December 2022 | $66,134,735 | $60,294,937 | $209,146,749 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 91-0361270).
Questions about PENINSULA LIGHT COMPANY INC
- What is the EIN of PENINSULA LIGHT COMPANY INC?
- The employer identification number (EIN) of PENINSULA LIGHT COMPANY INC is 91-0361270.
- Is PENINSULA LIGHT COMPANY INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1927.
- Are donations to PENINSULA LIGHT COMPANY INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does PENINSULA LIGHT COMPANY INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of PENINSULA LIGHT COMPANY INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did PENINSULA LIGHT COMPANY INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of PENINSULA LIGHT COMPANY INC?
- The 990 for the year ended December 31, 2024 names JAFAR TAGHAVI.
- Who are the officers and directors of PENINSULA LIGHT COMPANY INC?
- The 990 for the year ended December 31, 2024 lists 17 people; 17 received compensation from the organization, the highest $564,449 (JAFAR TAGHAVI, CEO).
- How much revenue does PENINSULA LIGHT COMPANY INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $68,040,592, expenses of $62,408,558 and total assets of $215,605,848 at year end.
Other nonprofits in GIG HARBOR
- LIGHTHOUSE CHRISTIAN SCHOOL EIN 91-1637244 · last filed 990 for 2025
- MOUNTAIN MEADOWS INC EIN 91-1792694 · last filed 990 for 2025
- GIG HARBOR FIREFIGHTERS UNION HEALTH & WELFARE TR EIN 46-6220670 · last filed 990 for 2025
- HARBOR MONTESSORI SCHOOL EIN 91-1301209 · last filed 990 for 2025
- TAHOMA ASSOCIATES EIN 91-0894347 · last filed 990 for 2024
- THE RUSSELL FAMILY FOUNDATION EIN 91-1663336 · last filed 990-PF for 2024
- CHRIST THE KING COMMUNITY OUTREACH EIN 91-1671746 · last filed 990 for 2024
- GIG HARBOR PENINSULA FISH EIN 91-1307991 · last filed 990 for 2025