Peninsula Light Company Inc
501(c)(12)
Only null% goes to programs Strong reserves
Peninsula Light Company Inc is a 501(c)(12) organization based in Gig Harbor, Washington, registered in 1927, with $68,040,592 in FY2024 revenue. CharityIndex grades it A.
13315 Goodnough Dr Nw, Gig Harbor, WA, 98332 EIN 91-0361270 Since 1927
Revenue (FY2024)
$68.0M
▲ 2.8% vs prior year
Expenses (FY2024)
$62.4M
Net assets
$180.9M
Employees
94
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A
—Program efficiency40% of the ratingNo expense breakdown in filings
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. Not scored for Peninsula Light Company Inc— this filing type doesn't report it, and the rating simply skips it (never counts it against the organization). See the exact thresholds →
AFinancial health25% of the rating35 mo reserves · +8% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Peninsula Light Company Inc: 35 mo reserves · +8% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Peninsula Light Company Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Peninsula Light Company Inc: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
To provide electricity and water to members and operating the company in a manner consistent with the purpose of the mutual corporation.
What they do
Sale and distribution of water to members on a mutual basis. there were 3,400 active water services at year end.
Contact & location
- Address
- 13315 Goodnough Dr Nw, Gig Harbor, WA, 98332
- City
- Gig Harbor
- State
- Washington
- Category
- —
- Subcategory
- —
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $53.4M (FY2013) to $68.0M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $34.7MNet assets $180.9M
Operating margin
8.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$215.6M
Total liabilities
$34.7M
Net assets
$180.9M
Salaries & benefits
$10.8M
17% of expenses
Board members
9
9 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $68,040,592▲2.8% | $62,408,558▲6.0% | $180,944,794▲2.5% | $215,605,848▲2.1% | 990 |
| 2023 | $66,185,127▲0.1% | $58,898,606▼2.3% | $176,482,261▲3.7% | $211,233,014▲1.0% | 990 |
| 2022 | $66,134,735▲2.9% | $60,294,937▲5.4% | $170,257,440▲3.6% | $209,146,749▲1.3% | 990 |
| 2021 | $64,241,054▲0.5% | $57,230,914▼2.9% | $164,396,105▲3.7% | $206,412,044▲1.4% | 990 |
| 2020 | $63,945,566▲4.5% | $58,963,868▲6.1% | $158,480,672▲6.1% | $203,553,467▲3.4% | 990 |
| 2019 | $61,215,372▲2.7% | $55,564,388▲5.0% | $149,374,000▲4.0% | $196,809,863▲4.6% | 990 |
| 2018 | $59,592,041▼0.7% | $52,929,980▲5.0% | $143,671,071▲4.9% | $188,121,353▲2.7% | 990 |
| 2017 | $60,005,259▲7.7% | $50,415,230▲2.4% | $136,968,534▲7.6% | $183,170,940▲3.9% | 990 |
| 2016 | $55,735,765▲0.2% | $49,225,607▲6.6% | $127,341,610▲5.4% | $176,283,915▲2.2% | 990 |
| 2015 | $55,650,996▲6.2% | $46,187,877▼3.3% | $120,769,699▲8.6% | $172,478,953▲3.9% | 990 |
| 2014 | $52,400,959▼1.9% | $47,788,529▲8.3% | $111,215,005▲4.4% | $165,931,997▲0.6% | 990 |
| 2013 | $53,391,315 | $44,120,263▼1.4% | $106,542,100▲9.6% | $164,984,865▲5.2% | 990 |
| 2012 | — | $44,765,692▲11.0% | $97,218,918▲10.3% | $156,789,939▲2.0% | 990 |
| 2011 | — | $40,344,426▼5.0% | $88,139,558▲14.1% | $153,777,898▲4.8% | 990 |
| 2010 | — | $42,472,881 | $77,220,565 | $146,681,316 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: Jafar Taghavi — $564,449 (0.90% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Jafar Taghavi | Ceo | 40 | $564,449 |
| Andy Sorensen | Working Foreman | 40 | $293,359 |
| Brian Wahto | Journeyman Lineman | 40 | $278,091 |
| Jason Edlund | Journeyman Lineman | 40 | $273,923 |
| Richard Hart | Journeyman Lineman | 40 | $241,187 |
| Brain Crosby | Working Foreman | 40 | $224,576 |
| Dana Hancock | Cbo | 40 | $199,780 |
| Amy Grice | Coo | 40 | $197,003 |
| Scott Junge | President | 6 | $35,000 |
| Signo Uddenberg | Director | 6 | $33,300 |
| Debra Ross | Vice President | 6 | $31,800 |
| Jim Smalley | Secretary | 6 | $31,550 |
| Marc Jorgenson | Treasurer | 6 | $31,050 |
| L Paul Alvestad | Director | 20 | $30,850 |
| Roger Spadoni | Director | 6.8 | $30,750 |
| Erin Gatherum | Director | 6 | $30,650 |
| Nick Markovich | Director | 3 | $27,400 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Equipment Experts Inc | Fleet Maintenance | $1,086,038 |
| Asplundh Tree Expert Co | Tree Trimming/vegetation Management | $1,037,824 |
| Greenfield Services | Vaccum Truck Services | $715,958 |
| Praece Consulting | Engineering Consulting Services | $707,636 |
| Nisc | Erp Services | $563,445 |
Frequently asked questions
- Is Peninsula Light Company Inc a legitimate nonprofit?
- Yes. Peninsula Light Company Inc is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 91-0361270, based in Gig Harbor, Washington.
- What is Peninsula Light Company Inc's EIN?
- Peninsula Light Company Inc's Employer Identification Number (EIN) is 91-0361270.
- How much revenue does Peninsula Light Company Inc report?
- Peninsula Light Company Inc reported $68,040,592 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- What financial grade does Peninsula Light Company Inc have?
- CharityIndex grades Peninsula Light Company Inc A, based on financial health (reserves and operating margin).
- How much does Peninsula Light Company Inc's highest-paid employee make?
- The highest reported compensation on Peninsula Light Company Inc's latest Form 990 is $564,449, paid to Jafar Taghavi (Ceo).
More nonprofits in Gig Harbor
Explore more
Data for Peninsula Light Company Inc (EIN 91-0361270) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.