Salem Electric FY2021 filing

Not tax-deductible

Salem, ORMutual-benefit / member-servingSince 1938EIN 93-0272945

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Provide electric service to members. Provide energy conservation incentives, information and equipment to members.

$1.7M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
6 of 6
filings with a surplus
Average surplus $0 a year · under 1% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$1.7M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
5 mo
of spending, in cash
Looks good: 5.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$21.9M
31% of total assets
Looks good: liabilities are 31% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$31.1M
+1% vs prior year
Spent
$31.1M
To programs
0%
Net assets
$49.1M
By yearFY2020–FY2025
Revenue
$31.1M
FY2021▲ +1%
Revenue by fiscal year
FY2020$30.7M
FY2021$31.1M
FY2022$33.2M
FY2023$34.0M
FY2024$34.4M
FY2025$34.8M
Expenses
$31.1M
FY2021▲ +1%
Expenses by fiscal year
FY2020$30.7M
FY2021$31.1M
FY2022$33.2M
FY2023$34.0M
FY2024$34.4M
FY2025$34.8M
Net assets
$49.1M
FY2021▲ +10%
Net assets by fiscal year
FY2020$44.4M
FY2021$49.1M
FY2022$54.9M
FY2023$60.7M
FY2024$62.8M
FY2025$63.1M

From the FY2021 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 1942.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

15 people listed on the 990; $1.7M paid to officers and key staff.

Part VII, Section A · reportable compensation
General Manager
$265,803Pt VII · Sec A
Engineering Technician
$250,233Pt VII · Sec A
Engineering and Operations Manager
$196,082Pt VII · Sec A
Apparatus Technician
$194,272Pt VII · Sec A
Administrative Services Manager
$182,216Pt VII · Sec A
$180,999Pt VII · Sec A
Information Technology Manager
$179,451Pt VII · Sec A
$178,079Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Anthony Schacher$347,254$329,977$318,557$295,650$265,803$256,168
Jonathan Phillips$260,661$252,331$225,857$220,979$196,082$185,344
Shannon Rockne————$250,233—
Christopher Krieck$249,875$231,425$212,091$198,970$182,216$169,398
Michael Richman$234,456$211,651$213,140$201,164$179,451$168,756
Brian Aicher$231,145$199,864$186,256$173,464—$158,362
Eric Weekly—$225,717—$172,341——
Darin Jacobsen$219,944$206,398$193,679———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Delivers electricity to its members.

Provided by the organization

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3 program services, described in the organization's own filed words · FY2021.
01

Heat Pump Program

95 projects completed. This program helps residential customers install energy efficient heat pump systems in their homes.

Pt IX · col B
02

Energy Smart Design Program

23 projects completed. This program helps commercial customers.

Pt IX · col B
03

Electric Sales

20,631

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 6 grants · $90K · 2020–2025
Higher Education Coordinating CommissionFY2025$15,000
Higher Education Coordinating CommissionFY2024$15,000
Higher Education Coordinating CommissionFY2023$15,000
Oregon Office of Student Access and CompletionFY2022$15,000
Oregon Office of Student Access and CompletionFY2021$15,000
Oregon Office of Student Access and CompletionFY2020$15,000

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$31.1M
Ln 12
Fees for servicesLn 2g$31.1M
Investment incomeLn 3$65K
Money outPt IX
$31.1M
Ln 25
Owns and owesPt X
$49.1M
net assets · Ln 32
Cash and savingsLn 1–2$13.2M
Total assetsLn 16$71.0M
LiabilitiesLn 26$21.9M
PeoplePt VI, VII
15
listed · VII A
PaidVII A15
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$31.1M
Investment incomeLn 3$65K
Gains on assetsLn 7−$83K
Total revenueLn 12$31.1M
Assets in detailPt X, end of year
CashLn 1$158K
SavingsLn 2$13.1M
Cash and savings togetherLn 1–2$13.2M
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$51.6M
Other assetsLn 15$389K
Total assetsLn 16$71.0M
LiabilitiesLn 26$21.9M
Net assetsLn 32$49.1M
OperationsPt I, VI
EmployeesI 551
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$14.1M$13.2M
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$49.2M$51.6M
Total assetsLn 16$68.7M$71.0M
LiabilitiesLn 26$24.2M$21.9M
Net assetsLn 32$44.4M$49.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$15K
Grants to domestic individualsLn 2$199K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$3.5M
Pay of current officers, directors and key staffLn 5$839K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$602K
Other employee benefitsLn 9$0
Payroll taxesLn 10$490K
Management feesLn 11a$0
Legal feesLn 11b$35K
Accounting feesLn 11c$30K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$18K
Office expensesLn 13$652K
Information technologyLn 14$162K
RoyaltiesLn 15$0
OccupancyLn 16$177K
TravelLn 17$52K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$64K
InterestLn 20$174K
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$2.0M
InsuranceLn 23$46K
Other expenses (24a–d)Ln 24$19.8M
All other expensesLn 24e$2.3M
Total functional expensesLn 25$31.1M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $34.8M$34.8M$0$63.1M 990 PDF
FY2024 $34.4M$34.4M$0$62.8M 990 PDF
FY2023 $34.0M$34.0M$0$60.7M 990 PDF
FY2022 $33.2M$33.2M$0$54.9M 990 PDF
FY2021 Viewing $31.1M$31.1M$0$49.1M 990 PDF
FY2020 $30.7M$30.7M$0$44.4M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (4 parts)
Part VIII · Statement of revenue $31,105,436 across 7 lines filed
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $31,053,798 · Unrelated business $0 · Excluded from tax $70,606$31,124,404
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $64,507$64,507
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax −$83,475−$83,475
VIII-12 Total revenueRelated to mission $31,053,798 · Unrelated business $0 · Excluded from tax $51,638$31,105,436
Part IX · Statement of functional expenses $31,105,436 across 31 lines filed
IX-1 Grants to domestic organizations$15,000
IX-2 Grants to domestic individuals$198,671
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$3,450,861
IX-5 Pay of current officers, directors and key staff$839,299
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$601,519
IX-9 Other employee benefits$0
IX-10 Payroll taxes$489,938
IX-11a Management fees$0
IX-11b Legal fees$34,511
IX-11c Accounting fees$30,350
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$18,392
IX-13 Office expenses$652,109
IX-14 Information technology$161,519
IX-15 Royalties$0
IX-16 Occupancy$176,519
IX-17 Travel$51,864
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$63,756
IX-20 Interest$173,541
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$2,038,531
IX-23 Insurance$45,764
IX-24 Other expenses (24a–d)$19,766,910
IX-24e All other expenses$2,296,382
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$31,105,436
Part X · Balance sheet $70,962,090 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $251,672$157,748
X-2 Savings and temporary cash investmentsStart of year $13,802,679$13,078,228
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $3,416,605$4,056,552
X-8 Inventories for sale or useStart of year $1,002,429$1,019,090
X-9 Prepaid expenses and deferred chargesStart of year $678,669$695,358
X-10c Land, buildings and equipment, netStart of year $49,221,478$51,566,434
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $277,506$388,680
X-16 Total assetsStart of year $68,651,038$70,962,090
X-17 Accounts payable and accrued expensesStart of year $18,337,093$16,175,759
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $902,447$1,007,435
X-26 Total liabilitiesStart of year $24,224,990$21,883,379
X-32 Total net assets or fund balancesStart of year $44,426,048$49,078,711
X-33 Total liabilities and net assetsStart of year $68,651,038$70,962,090
Part XI · Reconciliation of net assets $49,078,711 net assets at year end
XI-1 Total revenue$31,105,436
XI-2 Total expenses$31,105,436
XI-3 Revenue less expenses$0
XI-4 Net assets at start of year$44,426,048
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$4,652,663
XI-10 Net assets at end of year$49,078,711

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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