Civic Intelligence

Barrow Utilities and Electric Coop

990 • Fiscal year 2020 • EIN 92-0031346

Jan 01, 2020 to Dec 31, 2020 • Filed on Oct 06, 2021

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

78th percentile

0.61x

Higher debt load relative to assets than 78% of similar nonprofits.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

30th percentile

1.09x

Higher debt load relative to revenue than 30% of similar nonprofits.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2020

Net Margin

79th percentile

5.9%

Higher net margin than 79% of similar nonprofits.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

89th percentile

$396,498

Higher top officer pay than 89% of similar nonprofits.

Top officer pay equals 1.4% of source-year revenue.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2020

Asset Growth

4th percentile

-2.8%

Faster asset growth than 4% of similar nonprofits.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

85th percentile

5.8%

Faster revenue growth than 85% of similar nonprofits.

2020 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Assets

Down

$51,059,491

Down $1,452,694 (-2.8%) from 2019

Net Assets

Up

$19,938,534

Up $1,692,943 (+9.3%) from 2019

Liabilities

Down

$31,120,957

Down $3,145,637 (-9.2%) from 2019

Revenue

Up

$28,612,003

Up $1,577,658 (+5.8%) from 2019

Expenses

Up

$26,915,845

Up $138,472 (+0.5%) from 2019

Net Income

Up

$1,696,158

Up $1,439,186 (+560%) from 2019

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

2020

Assets$51,059,491
Liabilities$31,120,957
Net Assets$19,938,534

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

2020

Revenue$28,612,003
Expenses$26,915,845
Net Income$1,696,158
Jump To
Filing Snapshot
Filing Period
Jan 1, 2020 to Dec 31, 2020
Signed
Oct 6, 2021
Return Version
2020v4.1
Gross Receipts
$28,612,003
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$36,978,983$35,308,328▼ $1,670,655
Rtn Earn Endowment Incm Other Fnds$18,240,893$19,933,836▲ $1,692,943
Accounts Receivable$4,062,180$4,594,877▲ $532,697
Investments Program Related$2,873,922$3,037,903▲ $163,981
Prepaid Expenses and Deferred Charges$3,206,864$2,964,931▼ $241,933
Cash and Non-Interest-Bearing Accounts$3,160,544$2,803,151▼ $357,393
Inventories for Sale or Use$1,495,213$1,611,889▲ $116,676
Savings and Temporary Cash Investments$734,479$738,412▲ $3,933
Cap Stk Tr Prin Current Funds$4,698$4,698→ $0
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$52,512,185$51,059,491▼ $1,452,694
Other Assets Total$0$0→ $0
Liabilities
Mortgage Notes Payable Secured by Investment Property$28,323,935$27,787,959▼ $535,976
Accounts Payable and Accrued Expenses$4,529,620$2,267,384▼ $2,262,236
Other Liabilities$1,413,039$1,065,614▼ $347,425
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$34,266,594$31,120,957▼ $3,145,637
Net Assets / Fund Balance
Total Net Assets Fund Balance$18,245,591$19,938,534▲ $1,692,943
Total Liabilities and Net Assets / Fund Balance$52,512,185$51,059,491▼ $1,452,694

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$31,860,371$27,408,367$59,268,738
Equipment$2,589,059$1,909,649$4,498,708
Other Land Buildings$832,873-$832,873
Land$26,025-$26,025
Investment Program Related Org$3,037,903--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ben FrantzGeneral Manager (CEO)FT$268,794$127,704$396,498
Layne JordanNatural Gas Distr. Supt.FT$207,945$111,139$319,084
Timothy RussellBUS Plant SuperintendentFT$221,104$87,906$309,010
Rebecca LopezCFOFT$197,256$110,741$307,997
Melbourne HutchisonElectric Distr. SuperintendentFT$209,347$82,718$292,065
Paul JohnsonLineman ForemanFT$208,390$72,217$280,607
John LoweLineman JourneymanFT$197,116$73,061$270,177
Brower Lewis FDirector-$10,942$44,648$55,590
Ahsoak HermanSecretary-$7,950$44,648$52,598
Ahgeak Karl DerekDirector-$8,600$29,640$38,240
Nungasak Don ATreasurer-$11,527$19,012$30,539
Brower Price EPresident-$10,646$19,018$29,664
Brower Frederick FDirector-$11,703$224$11,927
Wolgemuth Tina ADirector-$10,803$1,019$11,822
Nageak Sr RoyVice-President-$8,703$265$8,968
Patkotak Josiah BDirector-$7,150$224$7,374

Highest Paid Contractors

ContractorServicesLocationCompensation
Uic Construction INCConstruction Service3900 C STREET SUITE 301, Anchorage, AK 99503$1,363,707
Solar Turbines INCConstruction ServicePO BOX 301087, Dallas, TX 75303$582,403
Cip Construction Technologies INCConstruction Service134 FIRST AVE W, Kalispell, MT 59901$375,158
Scott's Superior PaintingPainting ServicesPO Box 115, Barrow, AK 99723$187,763
Art Ohair LLCTechnology Services5540 S Chesterfield Drive, Crawfordsville, IN 47933$162,574
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$28,385,724
Investment Income
$23,595
Other Revenue
$202,684
Change in Net Assets
$1,696,158

Audited Revenue Reconciliation

Revenue per Audited Statements
$28,612,003
Total Revenue per Audited Statements
$28,612,003
Total Revenue per Form 990
$28,612,003
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$25,931,928
Salaries, Compensation, and Employee Benefits$951,217
Grants and Similar Amounts Paid$32,700
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
All Other Expenses---$6,809,051
Depreciation Depletion---$2,872,171
Other Expenses---$2,444,848
Interest---$1,125,950
Current Officers, Directors, Trustees, and Key Employees---$951,217
Insurance---$341,070
Office Expenses---$219,597
Fees for Services Other$0$0$0$155,779
Occupancy---$145,954
Grants to Domestic Orgs---$32,700
Payments to Affiliates---$25,985
Total Functional Expenses$0$0$0$26,915,845

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$26,915,845
Total Expenses per Audited Statements$26,915,845
Total Expenses per Form 990$26,915,845
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Native Village of BarrowBarrow, AK501(c)(1)Event Assistance$10,000
Silakkuagvik Communication IncBarrow, AK501(c)(3)Local Radio Station Support$10,000
Barrow High SchoolBarrow, AK501(c)(1)Event Assistance$6,700
Hopson Middle SchoolBarrow, AK501(c)(1)Event Assistance$6,000
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
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
Deferred Credits$933,950
Consumer Deposits$131,664
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 35% controlled entity
No
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
Yes
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 each year are voted upon.

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

The annual financial report and any changes to the by-laws have to be approved by the board. The board has authority to adjust rates.

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

The administration 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 directors are expected to disclose to the organization if and when a conflict arises.

FORM 990, PART VI, SECTION B, LINE 15B:

A third party performs the compensation surveys every other year, which is the basis for pay rates.

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

The financials are sent out to active members annually. The governing documents and conflict of interest policy are 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
Timothy Russell
Title
General Manager
Phone
9078526166
Signed
2021-10-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Timothy Russell
Formed
1964
Legal Domicile
Ak
Voting Board Members
9
Independent Board Members
9
Employees
89
Volunteers
0

Preparer

Firm
Bdo USA Llp
Address
3601 C STREET STE 600, ANCHORAGE, AK 99503
Preparer
Nayyir Rawhani CPA
Phone
9072788878
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Decrease in retired capital credit gains (3,215)

Form 990 Part IX Line 24 - Other Expenses

Description:cost of natural gas total expenses:1535402

Form 990 Part IX Line 24 - Other Expenses

Description:electric production total expenses:1141570

Form 990 Part IX Line 24 - Other Expenses

Description:water production/distribution total expenses:1076472

Form 990 Part IX Line 24 - Other Expenses

Description:electric distribution total expenses:873456

Form 990 Part IX Line 24 - Other Expenses

Description:gas distribution total expenses:772981

Form 990 Part IX Line 24 - Other Expenses

Description:consumer accounts total expenses:664670

Form 990 Part IX Line 24 - Other Expenses

Description:taxes total expenses:664581

Form 990 Part IX Line 24 - Other Expenses

Description:miscellaneous total expenses:79919

Financial Statement Notes

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

The Cooperative is exempt from federal and state income taxes under the provisions of Section 501(c)(12) of the Internal Revenue Code. 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 2017-2019 remain open to examination.

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IRS990/Form990PartVIISectionAGrp/PersonNm2TIMOTHY RUSSELL
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IRS990/Form990PartVIISectionAGrp/PersonNm7Brower Lewis F
IRS990/Form990PartVIISectionAGrp/PersonNm8Ahsoak Herman
IRS990/Form990PartVIISectionAGrp/PersonNm9Ahgeak Karl Derek
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IRS990/Form990PartVIISectionAGrp/PersonNm13Wolgemuth Tina A
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IRS990/Form990PartVIISectionAGrp/ReportableCompFromRltdOrgAmt150
IRS990/Form990PartVIISectionAGrp/TitleTxt0General Manager (CEO)
IRS990/Form990PartVIISectionAGrp/TitleTxt1Natural Gas Distr. Supt.
IRS990/Form990PartVIISectionAGrp/TitleTxt2BUS Plant Superintendent
IRS990/Form990PartVIISectionAGrp/TitleTxt3CFO
IRS990/Form990PartVIISectionAGrp/TitleTxt4Electric Distr. Superintendent
IRS990/Form990PartVIISectionAGrp/TitleTxt5Lineman Foreman
IRS990/Form990PartVIISectionAGrp/TitleTxt6Lineman Journeyman
IRS990/Form990PartVIISectionAGrp/TitleTxt7Director
IRS990/Form990PartVIISectionAGrp/TitleTxt8Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt9Director
IRS990/Form990PartVIISectionAGrp/TitleTxt10Treasurer
IRS990/Form990PartVIISectionAGrp/TitleTxt11President
IRS990/Form990PartVIISectionAGrp/TitleTxt12Director
IRS990/Form990PartVIISectionAGrp/TitleTxt13Director
IRS990/Form990PartVIISectionAGrp/TitleTxt14Vice-President
IRS990/Form990PartVIISectionAGrp/TitleTxt15Director
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IRS990/FormationYr01964
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IRS990/MissionDesc0PROVIDE WATER, SEWER, ELECTRIC POWER, AND NATURAL GAS TO THE RESIDENTS OF BARROW, ALASKA.
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IRS990/OtherExpensesGrp/Desc2WATER FOR RESALE
IRS990/OtherExpensesGrp/Desc3BARROW WATER DISTRIBUTION
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IRS990/OtherExpensesGrp/TotalAmt14093642
IRS990/OtherExpensesGrp/TotalAmt22978759
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IRS990/PrincipalOfficerNm0Timothy Russell
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IRS990/ProgramServiceRevenueGrp/Desc0BUS WATER AND SEWAGE
IRS990/ProgramServiceRevenueGrp/Desc1ELECTRIC POWER
IRS990/ProgramServiceRevenueGrp/Desc2WATER SALES
IRS990/ProgramServiceRevenueGrp/Desc3GAS ELECTRIC
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt17041407
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt23977247
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt32895255
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IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt17041407
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt23977247
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt32895255
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IRS990/PYBenefitsPaidToMembersAmt00
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IRS990/PYInvestmentIncomeAmt020034
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IRS990/PYOtherExpensesAmt025717173
IRS990/PYOtherRevenueAmt0259984
IRS990/PYProgramServiceRevenueAmt026754327
IRS990/PYRevenuesLessExpensesAmt0256972
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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