Civic Intelligence

Barrow Utilities and Electric Coop

990 • Fiscal year 2015 • EIN 92-0031346

Jan 01, 2015 to Dec 31, 2015 • Filed on May 12, 2016

PO Box 449Barrow, AK 99723

(907) 852-6166

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

76th percentile

0.62x

Higher debt load relative to assets than 76% of similar nonprofits.

2015 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2015

Liabilities / Revenue

26th percentile

1.09x

Higher debt load relative to revenue than 26% of similar nonprofits.

2015 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2015

Net Margin

67th percentile

4.0%

Higher net margin than 67% of similar nonprofits.

2015 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2015

Top Officer Pay

85th percentile

$239,392

Higher top officer pay than 85% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2015 filings • 501(c)12 • $25M-$50M nonprofits • Source year 2015

Asset Growth

99th percentile

30%

Faster asset growth than 99% of similar nonprofits.

2015 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Revenue Growth

95th percentile

11%

Faster revenue growth than 95% of similar nonprofits.

2015 filings • 501(c)12 • $25M-$50M nonprofits • Annualized from 2014 to 2015

Assets

Up

$40,209,705

Up $9,270,002 (+30%) from 2014

Net Assets

Up

$15,222,655

Up $392,936 (+2.6%) from 2014

Liabilities

Up

$24,987,050

Up $8,877,066 (+55%) from 2014

Revenue

Up

$22,986,372

Up $2,291,329 (+11%) from 2014

Expenses

Up

$22,058,049

Up $1,898,832 (+9.4%) from 2014

Net Income

Up

$928,323

Up $392,497 (+73%) from 2014

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2010: $22,108,713Liabilities 2010: $8,805,194Net Assets 2010: $13,303,5192010Assets 2011: $22,540,145Liabilities 2011: $8,853,359Net Assets 2011: $13,686,7862011Assets 2012: $23,530,983Liabilities 2012: $9,659,820Net Assets 2012: $13,871,1632012Assets 2013: $28,945,778Liabilities 2013: $13,561,521Net Assets 2013: $15,384,2572013Assets 2014: $30,939,703Liabilities 2014: $16,109,984Net Assets 2014: $14,829,7192014Assets 2015: $40,209,705Liabilities 2015: $24,987,050Net Assets 2015: $15,222,6552015Assets 2016: $41,738,871Liabilities 2016: $24,888,823Net Assets 2016: $16,850,0482016Assets 2017: $48,838,071Liabilities 2017: $30,759,989Net Assets 2017: $18,078,0822017Assets 2018: $48,586,124Liabilities 2018: $30,308,676Net Assets 2018: $18,277,4482018Assets 2019: $52,512,185Liabilities 2019: $34,266,594Net Assets 2019: $18,245,5912019Assets 2020: $51,059,491Liabilities 2020: $31,120,957Net Assets 2020: $19,938,5342020Assets 2021: $51,955,747Liabilities 2021: $29,539,794Net Assets 2021: $22,415,9532021Assets 2022: $52,518,234Liabilities 2022: $27,847,102Net Assets 2022: $24,671,1322022Assets 2023: $51,941,734Liabilities 2023: $26,497,058Net Assets 2023: $25,444,6762023Assets 2024: $50,817,828Liabilities 2024: $25,131,729Net Assets 2024: $25,686,0992024

Highlighted filing

2015

Assets$40,209,705
Liabilities$24,987,050
Net Assets$15,222,655

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$40M$30M$20M$10M$0Expenses 2010: $15,463,9082010Expenses 2011: $15,773,3722011Expenses 2012: $17,343,6462012Revenue 2013: $20,027,011Expenses 2013: $18,510,706Net Income 2013: $1,516,3052013Revenue 2014: $20,695,043Expenses 2014: $20,159,217Net Income 2014: $535,8262014Revenue 2015: $22,986,372Expenses 2015: $22,058,049Net Income 2015: $928,3232015Revenue 2016: $25,311,793Expenses 2016: $23,683,724Net Income 2016: $1,628,0692016Revenue 2017: $25,664,292Expenses 2017: $24,441,873Net Income 2017: $1,222,4192017Revenue 2018: $25,784,801Expenses 2018: $25,582,370Net Income 2018: $202,4312018Revenue 2019: $27,034,345Expenses 2019: $26,777,373Net Income 2019: $256,9722019Revenue 2020: $28,612,003Expenses 2020: $26,915,845Net Income 2020: $1,696,1582020Revenue 2021: $30,800,786Expenses 2021: $27,790,774Net Income 2021: $3,010,0122021Revenue 2022: $30,787,338Expenses 2022: $28,814,805Net Income 2022: $1,972,5332022Revenue 2023: $33,134,561Expenses 2023: $31,681,124Net Income 2023: $1,453,4372023Revenue 2024: $33,442,104Expenses 2024: $33,222,718Net Income 2024: $219,3862024

Highlighted filing

2015

Revenue$22,986,372
Expenses$22,058,049
Net Income$928,323
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
May 12, 2016
Return Version
2015v2.1
Gross Receipts
$22,986,372
Mission and Program Overview

Mission

Provide water, sewer, electric power, and natural gas to the residents of barrow, alaska.

Utility cooperative

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$22,428,650$20,699,160▼ $1,729,490
Rtn Earn Endowment Incm Other Fnds$14,715,894$15,106,805▲ $390,911
Prepaid Expenses and Deferred Charges$150,895$5,145,060▲ $4,994,165
Accounts Receivable$2,246,543$2,468,799▲ $222,256
Investments Program Related$1,938,458$2,206,318▲ $267,860
Cash and Non-Interest-Bearing Accounts$2,119,428$1,917,495▼ $201,933
Inventories for Sale or Use$1,174,337$1,285,084▲ $110,747
Savings and Temporary Cash Investments$778,253$600,982▼ $177,271
Cap Stk Tr Prin Current Funds$113,825$115,850▲ $2,025
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Intangible Assets$0$0→ $0
Loans From Officers Directors$0$0→ $0
Total Assets$30,939,703$40,209,705▲ $9,270,002
Other Assets Total$103,139$5,886,807▲ $5,783,668
Liabilities
Mortgage Notes Payable Secured by Investment Property$13,194,333$19,494,624▲ $6,300,291
Accounts Payable and Accrued Expenses$1,620,071$3,230,194▲ $1,610,123
Other Liabilities$1,295,580$2,262,232▲ $966,652
Grants Payable$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Deferred Revenue$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$16,109,984$24,987,050▲ $8,877,066
Net Assets / Fund Balance
Total Net Assets Fund Balance$14,829,719$15,222,655▲ $392,936
Total Liabilities and Net Assets / Fund Balance$30,939,703$40,209,705▲ $9,270,002

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$20,698,835$19,376,625$40,075,460
Land$325-$325
Investment Program Related Org$2,206,318--
Other Assets Org$5,886,807--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Karen SakeagakBilling SupervisorFT$225,736$13,656$239,392
Ben FrantzGeneral ManagerFT$221,754$13,291$235,045
Allen NestebyOperations SuperintendentFT$215,632$14,103$229,735
James MurphyPower Plant SuperintendentFT$210,472$12,899$223,371
Timothy W RussellBus SuperintendentFT$208,485$13,021$221,506
Mulugaveve TuifuaPayroll AccountantFT$191,285$11,489$202,774
Rebecca de LopezAdministrative ManagerFT$147,958$9,119$157,077
Richard Ungarook SrDirector-$14,550$42,402$56,952
Roy Nageak SrVice-President-$9,760$29,023$38,783
Don A NungasakSecretary/Treasurer-$12,450$16,779$29,229
Edith VorderstrasseDirector-$4,350$14,134$18,484
Price E BrowerPresident-$13,200$211$13,411
Doreen AhgeakDirector-$12,450$211$12,661
Frederick F BrowerDirector-$11,400$211$11,611
Ellen J LeavittDirector-$10,800$211$11,011
Lewis BrowerDirector-$9,200$141$9,341
Herman AhsoakDirector-$8,150$211$8,361

Highest Paid Contractors

ContractorServicesLocationCompensation
UIC Construction LLCConstruction6700 Arctic Spur Road, Anchorage, AK 99518$5,233,414
ASRC skweskimos incConstructionPO Box 536, Barrow, AK 99723$328,180
Gv Jones AssociatesEngineering1200 EAST 76TH AVE UNIT 1207, Anchorage, AK 99518$186,579
Kempel Huffman Ellis PCLegal & Acquisition255 E Fireweed Lane Suite 200, Anchorage, AK 99503$130,848
Solar Turbines IncServicesPO Box 85376, San Diego, CA 92186$124,443
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$22,767,009
Investment Income
$5,629
Other Revenue
$213,734
Change in Net Assets
$928,323

Audited Revenue Reconciliation

Revenue per Audited Statements
$22,986,372
Total Revenue per Audited Statements
$22,986,372
Total Revenue per Form 990
$22,986,372
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$21,430,233
Salaries, Compensation, and Employee Benefits$601,966
Grants and Similar Amounts Paid$25,850
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses---$5,537,778
Depreciation Depletion---$2,148,226
Other Expenses---$1,683,525
Interest---$893,304
Current Officers, Directors, Trustees, and Key Employees---$601,966
Office Expenses---$254,596
Insurance---$223,284
Fees for Services Other---$131,831
Occupancy---$77,123
Payments to Affiliates---$25,429
Grants to Domestic Orgs---$20,600
Grants to Domestic Individuals---$5,250
Total Functional Expenses$0$0$0$22,058,049

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$22,058,049
Total Expenses per Audited Statements$22,058,049
Total Expenses per Form 990$22,058,049
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Native Village of BarrowBarrow, AKNative VillageCommunity July 4th Games & Christmas Games$12,600
Barrow Whaler Athletic FoundationBarrow, AK501(c)(3)Cash Donation$8,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Receivables from Disqualified Persons$0$0→ $0
Receivables from Officers, Directors, Trustees, and Key Employees$0$0→ $0
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$1,400,000
Deferred Credits$687,534
Consumer Deposits$148,850
Postemployment & Postretirement Benefit Obligation$25,848
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

FORM 990, PART VI, SECTION A, LINE 2:

Lewis Brower, board director, is the brother-in-law of Ben Frantz, General Manager.

FORM 990, PART VI, SECTION A, LINE 6:

Our members consist of customers with electrical service to their residence or business. We do not have any stockholders.

FORM 990, PART VI, SECTION A, LINE 7A:

Members can be nominated and voted on by other members for a three year term. Three seats a year are voted upon.

FORM 990, PART VI, SECTION A, LINE 7B:

Any bylaw changes have to be approved by the membership. Annual financial report has to be approved by the members. The board has authority to adjust rates.

FORM 990, PART VI, SECTION B, LINE 11:

The admin manager reviews the 990 by comparing it to the financial records of the organization.

FORM 990, PART VI, SECTION B, LINE 12C:

There is an honor system in place in which the board of directors is expected to disclose to the organization if and when a conflict arises.

FORM 990, PART VI, SECTION C, LINE 19:

Financials are sent out to active members annually. Governing documents and conflict of interest policy is made available upon request.

Filing and Contact Details

Filer

Filer Name
Barrow Utilities and Electric Coop
EIN
92-0031346
In Care Of
% BEN L FRANTZ
Phone
9078526166
Address
PO Box 449, Barrow, AK 99723

Signing Officer

Name
Ben L Frantz
Title
General Manager
Phone
9078526166
Signed
2016-05-12
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ben L Frantz
Formed
1964
Legal Domicile
Ak
Voting Board Members
9
Independent Board Members
9
Employees
99
Volunteers
0

Preparer

Firm
Bdo USA Llp
Address
3601 C STREET STE 600, ANCHORAGE, AK 99503
Preparer
Key E Getty CPA
Phone
9078526166
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Retirement of capital credits (531,580) decrease in retired capital credit gains (2,608) excess fire insurance proceeds (3,224) new memberships 2,025 total to form 990, part xi, line 9 (535,387)

Form 990 Part IX Line 24 - Other Expenses

Description:cost of natural gas total expenses:1463578

Form 990 Part IX Line 24 - Other Expenses

Description:electric production total expenses:901460

Form 990 Part IX Line 24 - Other Expenses

Description:water production and distribu total expenses:988639

Form 990 Part IX Line 24 - Other Expenses

Description:electric distribution total expenses:520615

Form 990 Part IX Line 24 - Other Expenses

Description:gas distribution total expenses:507730

Form 990 Part IX Line 24 - Other Expenses

Description:consumer accounts total expenses:545166

Form 990 Part IX Line 24 - Other Expenses

Description:taxes total expenses:565950

Form 990 Part IX Line 24 - Other Expenses

Description:miscellaneous total expenses:44640

Financial Statement Notes

FORM 990, SCHEDULE D, PART X, LINE 2:

The Cooperative applies the provisions of Topic 740 of the FASB Accounting Standards Codification relating to accounting for uncertainty in income taxes. The Cooperative annually reviews its tax return and positions taken in accordance with the recognition standards. The Cooperative believes that it has no uncertain tax positions which would require disclosure or adjustment in these financial statements. Tax years 2012-2014 remain open to examination.

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IRS990/Form990PartVIISectionAGrp/OtherCompensationAmt1611489
IRS990/Form990PartVIISectionAGrp/PersonNm0Don A Nungasak
IRS990/Form990PartVIISectionAGrp/PersonNm1Richard Ungarook Sr
IRS990/Form990PartVIISectionAGrp/PersonNm2Doreen Ahgeak
IRS990/Form990PartVIISectionAGrp/PersonNm3Herman Ahsoak
IRS990/Form990PartVIISectionAGrp/PersonNm4Frederick F Brower
IRS990/Form990PartVIISectionAGrp/PersonNm5Ellen J Leavitt
IRS990/Form990PartVIISectionAGrp/PersonNm6Price E Brower
IRS990/Form990PartVIISectionAGrp/PersonNm7Roy Nageak Sr
IRS990/Form990PartVIISectionAGrp/PersonNm8Edith Vorderstrasse
IRS990/Form990PartVIISectionAGrp/PersonNm9Lewis Brower
IRS990/Form990PartVIISectionAGrp/PersonNm10Ben Frantz
IRS990/Form990PartVIISectionAGrp/PersonNm11Rebecca de Lopez
IRS990/Form990PartVIISectionAGrp/PersonNm12KAREN SAKEAGAK
IRS990/Form990PartVIISectionAGrp/PersonNm13Allen Nesteby
IRS990/Form990PartVIISectionAGrp/PersonNm14James Murphy
IRS990/Form990PartVIISectionAGrp/PersonNm15Timothy W Russell
IRS990/Form990PartVIISectionAGrp/PersonNm16Mulugaveve Tuifua
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IRS990/Form990PartVIISectionAGrp/TitleTxt0Secretary/Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt1Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Director
IRS990/Form990PartVIISectionAGrp/TitleTxt3Director
IRS990/Form990PartVIISectionAGrp/TitleTxt4Director
IRS990/Form990PartVIISectionAGrp/TitleTxt5Director
IRS990/Form990PartVIISectionAGrp/TitleTxt6President
IRS990/Form990PartVIISectionAGrp/TitleTxt7Vice-President
IRS990/Form990PartVIISectionAGrp/TitleTxt8Director
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10General Manager
IRS990/Form990PartVIISectionAGrp/TitleTxt11Administrative Manager
IRS990/Form990PartVIISectionAGrp/TitleTxt12BILLING SUPERVISOR
IRS990/Form990PartVIISectionAGrp/TitleTxt13Operations Superintendent
IRS990/Form990PartVIISectionAGrp/TitleTxt14Power Plant Superintendent
IRS990/Form990PartVIISectionAGrp/TitleTxt15BUS SUPERINTENDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt16PAYROLL ACCOUNTANT
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IRS990/FormationYr01964
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IRS990/OtherExpensesGrp/Desc0ADMINISTRATIVE AND GENERAL
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IRS990/OtherExpensesGrp/Desc2BARROW WATER DISTRIBUTION
IRS990/OtherExpensesGrp/Desc3WATER FOR RESALE
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IRS990/OtherExpensesGrp/TotalAmt22169544
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IRS990/PrincipalOfficerNm0Ben L Frantz
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IRS990/ProgramServiceRevenueGrp/Desc2GAS SERVICE
IRS990/ProgramServiceRevenueGrp/Desc3WATER SALES
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt32291765
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IRS990/PYSalariesCompEmpBnftPaidAmt0678519
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$50.8$25.1$25.7$33.4$33.2$0.22
2023Detailed filing. Detailed filing data is available for this year.$51.9$26.5$25.4$33.1$31.7$1.45
2022Detailed filing. Detailed filing data is available for this year.$52.5$27.8$24.7$30.8$28.8$1.97
2021Detailed filing. Detailed filing data is available for this year.$52.0$29.5$22.4$30.8$27.8$3.01
2020Detailed filing. Detailed filing data is available for this year.$51.1$31.1$19.9$28.6$26.9$1.70
2019Detailed filing. Detailed filing data is available for this year.$52.5$34.3$18.2$27.0$26.8$0.26
2018Detailed filing. Detailed filing data is available for this year.$48.6$30.3$18.3$25.8$25.6$0.20
2017Detailed filing. Detailed filing data is available for this year.$48.8$30.8$18.1$25.7$24.4$1.22
2016Detailed filing. Detailed filing data is available for this year.$41.7$24.9$16.9$25.3$23.7$1.63
2015Detailed filing. Detailed filing data is available for this year.$40.2$25.0$15.2$23.0$22.1$0.93
2014Detailed filing. Detailed filing data is available for this year.$30.9$16.1$14.8$20.7$20.2$0.54
2013Detailed filing. Detailed filing data is available for this year.$28.9$13.6$15.4$20.0$18.5$1.52
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$23.5$9.66$13.9$17.3
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.5$8.85$13.7$15.8
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.1$8.81$13.3$15.5