CHUGACH ELECTRIC ASSOCIATION INC

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1948

Legal Domicile

Principal Officer

ARTHUR W MILLER

Phone

9077624511

Tax Period

2023-01-01 to 2023-12-31

CHUGACH ELECTRIC ASSOCIATION INC, founded in 1948, is a major nonprofit that reported $365.1M in total revenue in fiscal year 2023.

Mission

CHUGACH ELECTRIC ASSOCIATION, INC. PROVIDES THE GENERATION, TRANSMISSION, AND DISTRIBUTION OF ELECTRICITY TO RETAIL CUSTOMERS AND THE GENERATION AND TRANSMISSION TO ITS WHOLESALE CUSTOMER. WE PROVIDE SAFE, RELIABLE, AND AFFORDABLE ELECTRICITY THROUGH SUPERIOR SERVICE AND SUSTAINABLE PRACTICES, POWERING THE LIVES OF OUR MEMBERS.

Program Service Accomplishments

Program 1

CHUGACH ELECTRIC ASSOCIATION, INC. PROVIDES TRANSMISSION AND DISTRIBUTION SERVICES TO APPROXIMATELY 113,543 RETAIL SERVICE LOCATIONS AND PROVIDES GENERATION AND TRANSMISSION SERVICES TO ITS WHOLESALE...

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $363,089,831

Investment Income $1,821,338

Other Revenue $196,369

TOTAL REVENUE $365,107,538

Expense Breakdown

Grants Paid $145,857

Salaries & Benefits $2,669,696

Fundraising Expenses $0

Other Expenses $354,158,822

TOTAL EXPENSES $365,074,156

Year-over-Year Comparison

	2023	2022	Change
Revenue	$365,107,538	$355,155,073	+0.0%
Expenses	$365,074,156	$355,118,164	+0.0%
Net Income	$33,382	$36,909	-0.1%

Key Indicators

✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

525

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$2,389,569

Total Directors

$139,992

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
BETTINA CHASTAIN	DIRECTOR	6.00	Director	$24,242	$0	$24,242
ERIN WHITNEY WITMER	DIRECTOR (THRU 01/2023)	3.00	Director	$800	$0	$800
HAROLD HOLLIS	DIRECTOR (THRU 05/23)	3.00	Director	$10,600	$0	$10,600
MARK WIGGINS	DIRECTOR	7.00	Director	$20,900	$0	$20,900
RACHEL MORSE	DIRECTOR	6.00	Director	$20,649	$0	$20,649
SAMUEL CASON	DIRECTOR	8.00	Director	$22,667	$0	$22,667
STANISLAVA COOPER	DIRECTOR	7.00	Director	$17,892	$0	$17,892
SUSANNE GREEN	DIRECTOR	7.00	Director	$9,792	$0	$9,792
BERNIE ROY SMITH	DIRECTOR (THRU 05/2023)	3.00	Director	$5,100	$0	$5,100
JAMES NORDLUND	DIRECTOR	7.00	Director	$7,350	$0	$7,350
ARTHUR MILLER	CHIEF EXECUTIVE OFFICER	40.00	Officer	$543,779	$148,013	$691,792
SHERRI HIGHERS	CHIEF FINANCIAL OFFICER	40.00	Officer	$347,448	$227,665	$575,113
ANDREW LAUGHLIN	CHIEF OPERATING OFFICER	40.00	Officer	$301,321	$109,032	$410,353
ALLAN RUDECK	CHIEF STRATEGIC OFFICER	40.00	Officer	$185,639	$28,629	$214,268
TIFFANY WILSON	CHIEF HR OFFICER	40.00	Officer	$57,352	$4,581	$61,933
MATTHEW CLARKSON	CHIEF LEGAL OFFICER	40.00	Officer	$364,720	$71,390	$436,110
SHELDON NASLUND	JOURNEYMAN LINEMAN	61.00	Highest	$310,917	$77,682	$388,599
EUGENE ORI	VP POWER PRODUCTION	52.00	Highest	$285,079	$70,870	$355,949
GARY GRIFFITH	FOREMAN	61.00	Highest	$268,440	$72,026	$340,466
VLADIMIR KRIVONOSOV	SR. DESIGNER	58.00	Highest	$245,599	$54,807	$300,406
RON VECERA	VP ADMINISTRATION	40.00	Highest	$248,946	$71,462	$320,408

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$365,107,538	$365,074,156	$1,807,919,630	$33,382
2022	$355,155,073	$355,118,164	$1,767,579,590	$36,909
2021	$354,827,268	$354,786,438	$1,796,363,282	$40,830
2020	$237,927,300	$237,611,008	$1,721,736,947	$316,292
2019	$213,242,696	$213,038,278	$834,400,819	$204,418
2018	$202,693,118	$202,488,101	$828,290,138	$205,017