Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $124,758,160 · related or exempt $124,758,160

• 2b · Program service revenue: DISTRIBUTION SERVICES

  total $3,576,552 · related or exempt $3,576,552

• 2c · Program service revenue: PATRONAGE DIVIDENDS

  total $1,290,022 · related or exempt $1,290,022

• 2d · Program service revenue: SERVICE FEES

  total $621,897 · related or exempt $621,897

• 3 · Investment income

  total $442,599 · excluded $442,599

• 6a · Gross rents

  real property $8,406

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $8,406

• 6d · Net rental income or loss

  total $8,406 · excluded $8,406

• 10a · Gross sales of inventory

  $339

• 10b · Cost of goods sold

  $116

• 10c · Net income from sales of inventory

  total $223 · unrelated business $223

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $933,698 · excluded $933,698

• 11b · Other revenue: INTERNET COMMISSIONS

  total $179,471 · unrelated business $179,471

• 11c · Other revenue: OUTSIDE SERVICES

  total $8,531 · unrelated business $8,531

• 11e · Other revenue, total

  $1,121,700

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $289,538

• 5 · Compensation of officers, directors and key employees

  total $5,209,815

• 7 · Other salaries and wages

  total $12,047,970

• 8 · Pension plan contributions

  total $2,863,813

• 9 · Other employee benefits

  total $1,518,354

• 10 · Payroll taxes

  total $2,240,132

• 20 · Interest

  total $6,675,720

• 22 · Depreciation, depletion and amortization

  total $12,501,092

• 24a · Other expenses: PURCHASED POWER

  total $72,029,182

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $11,481,887

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $3,173,720

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

  total $18,000

• 24e · All other expenses

  total $3,993,322

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,069,285 · end of year $4,124,727

• 2 · Savings and temporary cash investments

  beginning of year $11,926,694 · end of year $9,195,017

• 4 · Accounts receivable

  beginning of year $7,010,584 · end of year $5,855,865

• 7 · Other notes and loans receivable

  beginning of year $24,684 · end of year $16,252

• 8 · Inventories for sale or use

  beginning of year $6,792,144 · end of year $6,423,132

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,127,701 · end of year $1,537,356

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

  $479,818,112

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

  $205,615,542

• 10c · Land, buildings and equipment, net

  beginning of year $264,197,449 · end of year $274,202,570

• 13 · Investments: program-related

  beginning of year $70,186,050 · end of year $71,275,063

• 15 · Other assets

  beginning of year $3,068,708 · end of year $3,390,084

• 17 · Accounts payable and accrued expenses

  beginning of year $12,131,464 · end of year $13,795,174

• 23 · Secured mortgages and notes payable

  beginning of year $155,627,709 · end of year $162,571,679

• 25 · Other liabilities

  beginning of year $34,106,147 · end of year $33,764,550

• 29 · Capital stock, trust principal or current funds

  beginning of year $210,640 · end of year $211,055

• 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 $168,327,339 · end of year $165,677,608

The filer's explanations (Part III)

PART I, LINE 1A

PURSUANT TO THE COOPERATIVE'S WELLNESS PROGRAM, EMPLOYEES ARE REIMBURSED FOR 50% OF THEIR OUT OF POCKET COSTS FOR PARTICIPATION IN QUALIFIED WELLNESS ACTIVITIES. THE TOTAL ANNUAL REIMBURSEMENT IS LIMITED TO $360 PER EMPLOYEE AND $360 FOR AN EMPLOYEE'S SPOUSE, PROVIDED THE SPOUSE IS COVERED UNDER THE COOPERATIVE'S HEALTH INSURANCE PROGRAM. EMPLOYEES ARE ELIGIBLE TO PARTICIPATE IN THE WELLNESS PROGRAM AFTER 60 DAYS OF EMPLOYEMENT.

PART II, COLUMN F:

MR. CREDEN HUBER RECEIVED A DISTRIBUTION DURING THE YEAR FROM A SECTION 457(B) DEFERRED COMPENSATION PLAN. SUCH AMOUNT REPRESENTS BOX 1 W-2 WAGES OF COMPENSATION THAT WAS PREVIOUSLY DEFERRED WITH RESPECT TO BOX 1 BUT OTHERWISE INCLUDED IN BOX 5 W-2 WAGES IN THE YEAR OF DEFERRAL. SUCH AMOUNTS HAVE, THEREFORE, BEEN REPORTED TWICE ON FORM 990 AS REPORTABLE WAGES - ONCE IN THE YEAR OF DEFERRAL AND ONCE IN THE YEAR PAID PURSUANT TO THE DEFERRED COMPENSATION PLANS PAYOUT SCHEDULE.

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. 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. JASON BOWLING: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 156,880 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,500 TOTAL REPORTED IN COLUMN C $ 167,380 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT & NQDC PLANS (156,880) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT & NQDC PLANS 130,655 EXPENSE TO THE COOPERATIVE $ 141,155 DANIEL WILSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 83,728 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,610 TOTAL REPORTED IN COLUMN C $ 92,338 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (83,728) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 106,378 EXPENSE TO THE COOPERATIVE $ 114,988 NATHAN HODGES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 53,795 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,041 TOTAL REPORTED IN COLUMN C $ 60,836 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (53,795) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 82,693 EXPENSE TO THE COOPERATIVE $ 89,734 RON LEE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 77,326 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,745 TOTAL REPORTED IN COLUMN C $ 84,071 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (77,326) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 82,693 EXPENSE TO THE COOPERATIVE $ 89,438 JESUS MORENO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,264 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,425 TOTAL REPORTED IN COLUMN C $ 60,689 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,264) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 79,385 EXPENSE TO THE COOPERATIVE $ 85,810 CURTISS PETERSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 119,016 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,194 TOTAL REPORTED IN COLUMN C $ 124,210 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (119,016) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 64,175 EXPENSE TO THE COOPERATIVE $ 69,369 SARA RANSOM: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,670 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,304 TOTAL REPORTED IN COLUMN C $ 38,974 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,670) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 89,533 EXPENSE TO THE COOPERATIVE $ 96,837 REBECCA BUKSH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 49,197 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,920 TOTAL REPORTED IN COLUMN C $ 55,117 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (49,197) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 73,139 EXPENSE TO THE COOPERATIVE $ 79,059 MARK ROLL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 82,863 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,766 TOTAL REPORTED IN COLUMN C $ 87,629 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (82,863) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 57,780 EXPENSE TO THE COOPERATIVE $ 62,546 RICHIE ELLIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,790 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,481 TOTAL REPORTED IN COLUMN C $ 58,271 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,790) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 40,438 EXPENSE TO THE COOPERATIVE $ 43,919 SHANNON SHADRICK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 58,160 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,711 TOTAL REPORTED IN COLUMN C $ 61,871 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (58,160) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 44,072 EXPENSE TO THE COOPERATIVE $ 47,783 SEAN RUDDY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 75,735 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,618 TOTAL REPORTED IN COLUMN C $ 79,353 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (75,735) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 61,608 EXPENSE TO THE COOPERATIVE $ 65,226 ANDREA TYNDALL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 68,669 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,662 TOTAL REPORTED IN COLUMN C $ 70,331 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (68,669) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 61,608 EXPENSE TO THE COOPERATIVE $ 63,270 COREY EAST: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,783 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,125 TOTAL REPORTED IN COLUMN C $ 25,908 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (19,783) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 51,360 EXPENSE TO THE COOPERATIVE $ 57,485 JORGE GARCIA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 60,831 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,183 TOTAL REPORTED IN COLUMN C $ 65,014 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (60,831) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 51,360 EXPENSE TO THE COOPERATIVE $ 55,543 DANNY DUNHAM: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 47,102 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,559 TOTAL REPORTED IN COLUMN C $ 51,661 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (47,102) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 56,323 EXPENSE TO THE COOPERATIVE $ 60,882 JESUS HERNANDEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 24,974 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,841 TOTAL REPORTED IN COLUMN C $ 28,815 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (24,974) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 44,072 EXPENSE TO THE COOPERATIVE $ 47,913 OWEN MORTENSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,422 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,513 TOTAL REPORTED IN COLUMN C $ 14,935 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,422) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 40,438 EXPENSE TO THE COOPERATIVE $ 43,951

PART II, COLUMN C (CONTINUED):

JORGE GARCIA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 34,914 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,907 TOTAL REPORTED IN COLUMN C $ 38,821 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (34,914) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 44,824 EXPENSE TO THE COOPERATIVE $ 48,731 ADOLFO MARMOLEJO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,056 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,249 TOTAL REPORTED IN COLUMN C $ 9,305 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,056) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,645 EXPENSE TO THE COOPERATIVE $ 41,894