Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Energy Sales

  total $33,488,073 · related or exempt $33,488,073

• 2b · Program service revenue: Patronage Capital Credits

  total $1,378,938 · related or exempt $1,378,938

• 2c · Program service revenue: Other Electric Revenue

  total $214,033 · related or exempt $214,033

• 3 · Investment income

  total $199,107 · related or exempt $199,107

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $2,854,297 · program services $2,854,297

• 5 · Compensation of officers, directors and key employees

  total $509,978 · program services $509,978

• 20 · Interest

  total $51,449 · program services $51,449

• 22 · Depreciation, depletion and amortization

  total $1,965,474 · program services $1,965,474

• 24a · Other expenses: Cost of Energy

  total $19,595,512 · program services $19,595,512

• 24b · Other expenses: Distribution Expense-Ma

  total $3,862,420 · program services $3,862,420

• 24c · Other expenses: Administrative and Gene

  total $1,957,259 · program services $1,957,259

• 24d · Other expenses: Distribution Expense-Op

  total $668,917 · program services $668,917

• 24e · All other expenses

  total $1,062,116 · program services $1,062,116

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,656,295 · end of year $1,153,176

• 2 · Savings and temporary cash investments

  beginning of year $1,961,884 · end of year $1,944,819

• 4 · Accounts receivable

  beginning of year $3,569,629 · end of year $5,258,755

• 8 · Inventories for sale or use

  beginning of year $1,723,383 · end of year $2,149,656

• 9 · Prepaid expenses and deferred charges

  beginning of year $241,281 · end of year $104,046

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

  $58,968,216

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

  $26,893,145

• 10c · Land, buildings and equipment, net

  beginning of year $30,760,608 · end of year $32,075,071

• 13 · Investments: program-related

  beginning of year $17,779,614 · end of year $18,673,820

• 17 · Accounts payable and accrued expenses

  beginning of year $2,759,120 · end of year $2,837,849

• 23 · Secured mortgages and notes payable

  beginning of year $1,617,509 · end of year $1,586,562

• 25 · Other liabilities

  beginning of year $2,075,833 · end of year $2,939,096

• 29 · Capital stock, trust principal or current funds

  beginning of year $209,980 · end of year $212,855

• 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 $51,030,252 · end of year $53,782,981

The filer's explanations (Part III)

Part I, Line 3

Compensation of the General Manager is done by comparing the salaries of like-sized Electric Cooperatives in similar financial and physical condition, neighboring investor owned utilities and other comparative data. The Board of Directors approve the compensation package annually.