Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $25,715,317 · related or exempt $25,715,317

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $1,141,040 · related or exempt $1,141,040

• 2c · Program service revenue: SERVICE FEES

  total $69,401 · related or exempt $69,401

• 3 · Investment income

  total $166,312 · excluded $166,312

• 7a · Gross sales of assets other than inventory

  other assets $1,278

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

  other assets $0

• 7c · Gain or loss

  other assets $1,278

• 7d · Net gain or loss

  total $1,278 · related or exempt $1,278

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $109,953 · related or exempt $109,953

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $48,436 · excluded $48,436

• 11e · Other revenue, total

  $158,389

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $891,929

• 5 · Compensation of officers, directors and key employees

  total $657,990

• 7 · Other salaries and wages

  total $1,607,180

• 8 · Pension plan contributions

  total $249,949

• 9 · Other employee benefits

  total $439,699

• 10 · Payroll taxes

  total $165,140

• 20 · Interest

  total $1,607,342

• 22 · Depreciation, depletion and amortization

  total $2,688,602

• 24a · Other expenses: PURCHASED POWER

  total $15,228,229

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $2,846,378

• 24c · Other expenses: CONSUMER EXPENSE

  total $535,823

• 24d · Other expenses: OTHER DEDUCTIONS

  total $161,162

• 24e · All other expenses

  total $169,379

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,421,765 · end of year $1,573,300

• 2 · Savings and temporary cash investments

  beginning of year $3,000,000 · end of year $5,001,017

• 4 · Accounts receivable

  beginning of year $2,063,341 · end of year $2,866,822

• 7 · Other notes and loans receivable

  beginning of year $29,087 · end of year $21,171

• 8 · Inventories for sale or use

  beginning of year $629,466 · end of year $580,935

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,921,077 · end of year $2,633,916

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

  $116,568,809

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

  $44,042,200

• 10c · Land, buildings and equipment, net

  beginning of year $56,656,795 · end of year $72,526,609

• 13 · Investments: program-related

  beginning of year $13,118,915 · end of year $14,164,049

• 15 · Other assets

  beginning of year $838,923 · end of year $910,978

• 17 · Accounts payable and accrued expenses

  beginning of year $3,710,047 · end of year $5,313,610

• 21 · Escrow or custodial account liability

  beginning of year $517,597 · end of year $465,399

• 23 · Secured mortgages and notes payable

  beginning of year $43,282,999 · end of year $57,842,792

• 25 · Other liabilities

  beginning of year $2,010,973 · end of year $2,640,043

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 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 $33,157,753 · end of year $34,016,953

The filer's explanations (Part III)

SCHEDULE J, 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 ENVIRONMENT. 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. JOSEPH HERRERA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 18,896 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,658 TOTAL REPORTED IN COLUMN C $ 29,554 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (18,896) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,197 EXPENSE TO THE COOPERATIVE $ 29,855 TONY LOPEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,349 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,467 TOTAL REPORTED IN COLUMN C $ 21,816 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,349) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,585 EXPENSE TO THE COOPERATIVE $ 21,052 JIMMY W CAPPS JR.: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 25,600 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,453 TOTAL REPORTED IN COLUMN C $ 34,053 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (25,600) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,022 EXPENSE TO THE COOPERATIVE $ 23,475 DAVID MONTOYA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 23,394 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,339 TOTAL REPORTED IN COLUMN C $ 30,733 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (23,394) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,042 EXPENSE TO THE COOPERATIVE $ 20,381 DONNA WILKINS ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,356 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,590 TOTAL REPORTED IN COLUMN C $ 14,946 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,356) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 12,069 EXPENSE TO THE COOPERATIVE $ 19,659 GLENN CALVERT ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,710 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,614 TOTAL REPORTED IN COLUMN C $ 12,324 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,710) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 9,162 EXPENSE TO THE COOPERATIVE $ 14,776