Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $36,448,371 · related or exempt $36,448,371

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $1,523,752 · related or exempt $1,523,752

• 2c · Program service revenue: SERVICE FEES

  total $234,668 · related or exempt $234,668

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $31,559 · related or exempt $31,559

• 3 · Investment income

  total $190,332 · excluded $190,332

• 7a · Gross sales of assets other than inventory

  other assets $63,516

• 7b · Less cost or other basis and sales expenses

  other assets $0

• 7c · Gain or loss

  other assets $63,516

• 7d · Net gain or loss

  total $63,516 · related or exempt $63,516

• 10a · Gross sales of inventory

  $292,981

• 10b · Cost of goods sold

  $271,688

• 10c · Net income from sales of inventory

  total $21,293 · related or exempt $21,293

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $78,492 · excluded $78,492

• 11b · Other revenue: INTERNET COMMISSIONS

  total $39,347 · unrelated business $39,347

• 11e · Other revenue, total

  $117,839

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $64,936

• 2 · Grants to domestic individuals

  total $10,000

• 4 · Benefits paid to or for members

  total $5,148,316

• 5 · Compensation of officers, directors and key employees

  total $1,559,706

• 7 · Other salaries and wages

  total $3,969,202

• 8 · Pension plan contributions

  total $855,279

• 9 · Other employee benefits

  total $799,091

• 10 · Payroll taxes

  total $374,017

• 20 · Interest

  total $2,048,508

• 22 · Depreciation, depletion and amortization

  total $4,303,012

• 24a · Other expenses: PURCHASED POWER

  total $16,693,020

• 24b · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,127,689

• 24c · Other expenses: DISTRIBUTION EXPENSE

  total $1,092,465

• 24d · Other expenses: UNRELATED BUS. INC. TAX

  total $12,164

• 24e · All other expenses

  total $492,605

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,709,485 · end of year $331,032

• 2 · Savings and temporary cash investments

  beginning of year $2,278,111 · end of year $1,605,816

• 4 · Accounts receivable

  beginning of year $4,463,371 · end of year $3,128,149

• 7 · Other notes and loans receivable

  beginning of year $19,800 · end of year $6,600

• 8 · Inventories for sale or use

  beginning of year $2,035,996 · end of year $1,891,160

• 9 · Prepaid expenses and deferred charges

  beginning of year $308,910 · end of year $312,625

• 10a · Land, buildings and equipment: cost or other basis

  $144,732,280

• 10b · Land, buildings and equipment: accumulated depreciation

  $49,410,292

• 10c · Land, buildings and equipment, net

  beginning of year $87,117,783 · end of year $95,321,988

• 13 · Investments: program-related

  beginning of year $26,838,721 · end of year $27,552,266

• 15 · Other assets

  beginning of year $160,288 · end of year $243,219

• 17 · Accounts payable and accrued expenses

  beginning of year $5,739,688 · end of year $4,236,154

• 19 · Deferred revenue

  beginning of year $143,070 · end of year $47,100

• 21 · Escrow or custodial account liability

  beginning of year $49,023 · end of year $110,266

• 23 · Secured mortgages and notes payable

  beginning of year $45,691,043 · end of year $45,923,321

• 25 · Other liabilities

  beginning of year $3,493,562 · end of year $5,867,707

• 29 · Capital stock, trust principal or current funds

  beginning of year $134,080 · end of year $135,845

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $70,681,999 · end of year $74,072,462

The filer's explanations (Part III)

PART I, LINE 1A

TRAVEL FOR COMPANIONS - PURSUANT TO APPLICABLE TRAVEL POLICIES, AND WITH PRIOR APPROVAL FOR A BONA FIDE BUSINESS PURPOSE, THE COOPERATIVE WILL REIMBURSE DIRECTORS FOR THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL BUSINESS OF THE COOPERATIVE. EMPLOYEES ARE REQUIRED TO REIMBURSE THE COOPERATIVE FOR RESPECTIVE SPOUSAL TRAVEL COSTS. DURING THE YEAR, TWO DIRECTORS (ESTES AND MOORE) WERE REIMBURSED FOR EXPENSES RELATED TO SPOUSAL TRAVEL. GYM/FITNESS REIMBURSEMENT - ONE INDIVIDUAL REPORTED ON FORM 990 PART VII, JOHN VANMATER, RECEIVED THIS BENEFIT DURING THE YEAR.

PART II, COLUMN C:

INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIORNMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. DAVID M. MCCLAIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 130,864 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,235 TOTAL REPORTED IN COLUMN C $ 145,099 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (130,864) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 63,958 EXPENSE TO THE COOPERATIVE $ 78,193 ROY HINKLE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 39,405 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,321 TOTAL REPORTED IN COLUMN C $ 49,726 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (39,405) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,438 EXPENSE TO THE COOPERATIVE $ 41,759 NAOMI BAUCOM: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,138 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,209 TOTAL REPORTED IN COLUMN C $ 31,347 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,138) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,772 EXPENSE TO THE COOPERATIVE $ 50,981 WILLIAM DUNIVEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 57,977 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,345 TOTAL REPORTED IN COLUMN C $ 65,322 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (57,977) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,704 EXPENSE TO THE COOPERATIVE $ 41,049 CARY MCCLINTOCK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 47,402 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,063 TOTAL REPORTED IN COLUMN C $ 54,465 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (47,402) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,390 EXPENSE TO THE COOPERATIVE $ 41,453 SARAH MCLEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,552 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,923 TOTAL REPORTED IN COLUMN C $ 29,475 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,552) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,253 EXPENSE TO THE COOPERATIVE $ 40,176 GABRIEL VASQUEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,191 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,719 TOTAL REPORTED IN COLUMN C $ 23,910 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,191) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,068 EXPENSE TO THE COOPERATIVE $ 32,787 JOHN VANMATER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,351 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,349 TOTAL REPORTED IN COLUMN C $ 26,700 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (19,351) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,152 EXPENSE TO THE COOPERATIVE $ 41,501 ROBERT PIPPIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,373 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,789 TOTAL REPORTED IN COLUMN C $ 29,162 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,373) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,997 EXPENSE TO THE COOPERATIVE $ 38,786 MIKE MARTINEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,511 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,240 TOTAL REPORTED IN COLUMN C $ 21,751 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,511) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,621 EXPENSE TO THE COOPERATIVE $ 30,861

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• BIG COUNTRY DEVELOPMENT CORPORATION

  C · ATTRACTING NEW INDUSTRY OR RETAINING INDUSTRY IN THE AREA · TX · 100% owned · controlled entity

  Directly controlled by BIG COUNTRY ELECTRIC COOPERATIVE INC