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OUR MISSION IS OUR MEMBERS
PRESIDENT & CEO LETTER
2020 WAS ONE TO REMEMBER–AND NOT IN A GOOD WAY. THIS PAST YEAR ROBBED US ALL OF OUR PLANS, SAFETY, COMFORT AND OUR LIVES AS WE KNEW THEM.
We’ve hurt, cried, wondered ‘why us’ and ‘why now?’ Despite all of the overwhelming disappointment, your utility has persevered through insurmountable hardship and come out stronger and more resilient.
Resiliency is defined as the ability to withstand adversity and bounce back from difficult life events. To say that we, as a society, have shown resiliency over the last year is an understatement. Inland Power persevered through it all to ensure you continued to receive power during this critical time with the world quarantining while working and learning virtually from home. Having reliable power is always a priority for Inland Power, but it has never been as critical to the daily lives of our members as during the COVID-19 pandemic.
Recent months have been a time for
reflection. Despite the challenges, it is amazing to look back and see all that Inland Power accomplished in 2020. We have been with you every step of the way through this difficult time. Aside from the impacts of COVID-19, Mother Nature also proved to be a formidable opponent in 2020. Our Labor Day BBQs were interrupted by wildfires fueled by high winds, which caused widespread outages. Some areas saw severe damage, including over five hundred destroyed poles. Members in the Creston area had an initial
forecast of being without power for two weeks due to the damage. Inland crews rallied and were able to make a record
number of repairs and pole replacements to restore power to the community in just six days.
As always, Inland’s commitment to providing reliable power is at the forefront of our focus. Ensuring our system remains resilient and dependable is of the utmost importance to Inland Power. Our longterm work plan includes critical updates to substations and other infrastructure
to keep the lights on. In addition to our annual work plan, our team processed a record number of new service requests,
managed our fleet inventory, redesigned our warehouse, and accomplished many other achievements that are highlighted throughout this annual report.
Inland’s overall financial health is excellent. After setting aside the BPA Prepayment transaction, total assets are $198 million dollars, long-term debt is $68 million and net margins were $4.59 million in 2020. Your cooperative was also able to return $2.46 million in capital credits to the
membership in 2020.
Throughout this report, you will see evidence of our dedication to serving and continually creating value for our members. We would like to thank our employees for their resilience, dedication, perseverance and willingness to embrace change this past year to effectively respond to the changing environment and accomplish all the successes highlighted in this annual report. We continue to believe that our products, services and the value they add to our members remain the fundamental
elements of our continued success to
improve the quality of life for our valued members.
On behalf of your Inland Power board of trustees and all the employees of Inland Power we thank you for your business, the opportunity to serve your needs and we look forward to a successful, healing and happier year in 2021.
CEO INLAND POWER & LIGHT PRESIDENT BOARD OF TRUSTEES
OUR MISSION IS OUR MEMEBERS
AT INLAND POWER, OUR COMMUNITY IS AT THE HEART OF EVERYTHING WE DO. WHEN WE SAY OUR MISSION IS OUR MEMBERS, WE MEAN IT. EACH AND EVERY ONE OF YOU IS THE REASON WE DO WHAT WE DO EVERY SINGLE DAY. IT MEANS THAT WE HAVE YOUR BACK IN GOOD TIMES AND IN BAD TIMES.
When we say our mission is our members, we mean it. Each and every one of you is the reason we do what we do every single day. It means that we have your back in good times and in bad times.
We were all tested in 2020. The hardship we endured as a community was unprecedented in recent history. However, we rallied together and our community showed its resilience. While we are not out
of the woods completely, we do see a light at the end of the COVID tunnel.
Early on in the pandemic, Inland Power began working with members who were struggling to pay their bill due to the economic impacts of COVID-19 and the shutdown. Inland was one of the early implementors of offering payment plans and deferred payments. Additionally, we provided energy assistance through our community foundation and our employeesupported Power from the Heart Fund.
For years, Inland has worked closely with the Spokane Neighborhood Action Partners (SNAP) to offer energy assistance. This past year, Inland Power increased our SNAP donation to ensure more of our
members had access to much needed
energy assistance. In 2020, over 600 Inland Power members received more than $561,000 through SNAP’s energy assistance program. We are grateful for our partnership with SNAP and the impact being made directly to our members in need. We want to see our communities shine
bright, which is why, in addition to our energy assistance programs, Inland Power supports students pursuing higher education, community events, schools, and livestock exhibitors just to name a few. In 2020, the community foundation donated approximately $52,000 back to the communities we serve.
• The Inland Power Community
Foundation sponsored 24 organizations in 2020 totaling $32,000.
• Inland awarded 15 - $1,000 scholarships to Inland Power’s members’ children
and dependents to attend college.
• Inland provided $5,150 to 4-H and
FFA members who showed and sold
livestock at fairs and shows around
eastern Washington, many held virtually in 2020.
