Nonprofit · EIN 92-0014079
HOMER ELECTRIC ASSOCIATION INC
Tax-exempt · HOMER, AK 99603
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $116,132,775 | $113,857,098 | $2,275,677 | $270,588,003 | $151,411,868 | $119,176,135 |
| December 31, 2023 | 990 | $109,015,250 | $108,853,497 | $161,753 | $268,137,644 | $148,714,815 | $119,422,829 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $115,496,668
- Investment income
- $348,450
- Net rental income
- $270,000
- Net gain from sales of assets
- $67,476
- Other revenue
- $287,657
Expenses
- Grants and similar amounts paid
- $9,000
- Compensation of officers, directors and key employees
- $1,024,365
- Salaries, compensation and benefits (total)
- $1,024,365
- Professional fundraising fees
- $0
- Occupancy
- $748,113
- Depreciation
- $9,577,942
Balance sheet and other
- Total assets, start of year
- $268,137,644
- Total assets, end of year
- $270,588,003
- Total liabilities, end of year
- $151,411,868
- Net assets, end of year
- $119,176,135
- Land, buildings and equipment
- $179,752,309
- Gross receipts
- $116,132,775
- Employees
- 162
- Volunteers
- 0
- Year formed
- 1946
- State of legal domicile
- AK
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 |
|---|---|---|---|---|
| Bradley P Janorschke | Chief Executive Officer Officer | 40 | $554,343 | $58,710 |
| John Jungling | Chief Technology Officer Highest-paid employee | 40 | $381,150 | $54,402 |
| Sheri Gower | Chief Adminstrative Officer Highest-paid employee | 40 | $368,875 | $54,378 |
| Larry Jorgensen | Chief Power Production Officer Highest-paid employee | 40 | $369,323 | $53,796 |
| Sarah Lambe | Chief Financial Officer Officer | 40 | $320,615 | $52,342 |
| Steve Cannon | Manager of Operations Highest-paid employee | 40 | $305,295 | $52,409 |
| Keriann Baker | Chief Strategy Officer Highest-paid employee | 40 | $303,294 | $52,330 |
| David Thomas | Strategic Affairs Officer Former | 40 | $209,879 | $123,169 |
| Dan Furlong | President Trustee or director, Officer | 12 | $9,200 | $0 |
| Eugene Levine | Director Trustee or director | 1 | $7,500 | $0 |
| Erin McKittrick | Director Trustee or director | 2 | $5,750 | $0 |
| Wayne H Ogle | Deputy Secretary Trustee or director, Officer | 2 | $4,500 | $0 |
| Dan Green | Director Trustee or director | 2 | $3,750 | $0 |
| James Duffield II | Secretary/Treasurer Trustee or director, Officer | 1 | $2,251 | $0 |
| Robert Wall | Vice President Trustee or director, Officer | 1 | $2,250 | $0 |
2 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| Louis Flora | Director Trustee or director | 1 | $1,750 |
| Charles Mike Chenault | Director Trustee or director | 1 | $1,404 |
990 for the year ended December 31, 2023: 18 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| Bradley P Janorschke | General Manager Officer | 40 | $380,869 | $197,017 |
| John Jungling | Director of Cyber Security Highest-paid employee | 40 | $254,027 | $156,235 |
| Sheri Gower | Director of Administration Highest-paid employee | 40 | $248,100 | $156,211 |
| Larry Jorgensen | Dir of Power, Fuels & Dispatch Highest-paid employee | 40 | $247,962 | $150,044 |
| Sarah Lambe | Director of Finance Officer | 40 | $212,898 | $139,460 |
| Steve Cannon | Director of Operations Highest-paid employee | 40 | $224,634 | $115,972 |
| Keriann Baker | Director of Member Services Highest-paid employee | 40 | $221,979 | $114,784 |
| David Thomas | Manager of Strategic Affairs Former | 40 | $213,400 | $114,105 |
| Dan Furlong | President Trustee or director, Officer | 10 | $10,850 | $0 |
| Erin McKittrick | Director Trustee or director | 1 | $8,400 | $0 |
| Wayne H Ogle | Deputy Secretary Trustee or director, Officer | 2 | $6,300 | $0 |
| Eugene Levine | Director Trustee or director | 1 | $5,450 | $0 |
| Robert Wall | Vice President Trustee or director, Officer | 2 | $4,850 | $0 |
| Charles Mike Chenault | Director Trustee or director | 1 | $4,500 | $0 |
| James Duffield II | Secretary/Treasurer Trustee or director, Officer | 2 | $3,950 | $0 |
| Louis Flora | Director Trustee or director | 1 | $2,558 | $0 |
| Dan Green | Director Trustee or director | 1 | $2,450 | $0 |
| Charles Rudstrom | Deputy Secretary Until May Trustee or director, Officer | 1 | $2,100 | $0 |
Address and contacts
- Address (IRS master file)
- 3977 LAKE ST, HOMER, AK 99603-7652
- In care of
- % SARAH LAMBE
- Principal officer (990 for 2024)
- Bradley P Janorschke, 3977 Lake Street, Homer, AK 996037680
- Signed the 990
- Sarah Lambe, CFO
- Phone
- (907) 235-8551
- Website
- WWW.HOMERELECTRIC.COM
- Return prepared by
- BDO USA
Mission
TO SAFELY PROVIDE RELIABLE ELECTRICITY TO OUR MEMBERS AND OUR COMMUNITY THROUGH SUPERIOR CUSTOMER SERVICE AND INNOVATIVE ENERGY SOLUTIONS AT FAIR AND REASONABLE PRICES.
Program accomplishments
- HOMER ELECTRIC ASSOCIATION (HEA) OPERATES ON A COOPERATIVE BASIS AND IS IN COMPLIANCE WITH THE COOPERATIVE REQUIREMENTS. HEA PROVIDED A TOTAL OF 490,194,730 KWHS TO 34,519 CONSUMERS DURING 2024.
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
- 92-0014079
- Tax-exempt status
- 501(c)(12): Benevolent life insurance association or mutual company
- Donations deductible
- No
- Exempt since
- 1951
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $270,588,003
- Income (IRS master file)
- $116,132,775
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $116,132,775 | $113,857,098 | $270,588,003 | IRS |
| 990 | December 2023 | $109,015,250 | $108,853,497 | $268,137,644 | XML |
| 990 | December 2022 | $105,957,011 | $103,729,655 | $267,608,771 | 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 92-0014079).
Questions about HOMER ELECTRIC ASSOCIATION INC
- What is the EIN of HOMER ELECTRIC ASSOCIATION INC?
- The employer identification number (EIN) of HOMER ELECTRIC ASSOCIATION INC is 92-0014079.
- Is HOMER ELECTRIC ASSOCIATION INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1951.
- Are donations to HOMER ELECTRIC ASSOCIATION INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does HOMER ELECTRIC ASSOCIATION 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 HOMER ELECTRIC ASSOCIATION 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 HOMER ELECTRIC ASSOCIATION 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 HOMER ELECTRIC ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 names Bradley P Janorschke.
- Who are the officers and directors of HOMER ELECTRIC ASSOCIATION INC?
- The 990 for the year ended December 31, 2024 lists 17 people; 17 received compensation from the organization, the highest $554,343 (Bradley P Janorschke, Chief Executive Officer).
- How much revenue does HOMER ELECTRIC ASSOCIATION INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $116,132,775, expenses of $113,857,098 and total assets of $270,588,003 at year end.
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