Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE FROM MEMBERS

  total $87,619,410 · related or exempt $87,619,410

• 2b · Program service revenue: POLE CONTACT FEES

  total $326,662 · excluded $326,662

• 3 · Investment income

  total $1,501,126 · related or exempt $1,457,197 · excluded $43,929

• 6a · Gross rents

  real property $9,000 · personal property $28,880

• 6b · Less rental expenses

  real property $14,362 · personal property $50,377

• 6c · Rental income or loss

  real property -$5,362 · personal property -$21,497

• 6d · Net rental income or loss

  total -$26,859 · unrelated business -$26,859

• 7a · Gross sales of assets other than inventory

  other assets $3,666,276

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

  other assets $3,637,797

• 7c · Gain or loss

  other assets $28,479

• 7d · Net gain or loss

  total $28,479 · excluded $28,479

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $89,136

• 5 · Compensation of officers, directors and key employees

  total $787,382

• 7 · Other salaries and wages

  total $612,205

• 8 · Pension plan contributions

  total $292,886

• 9 · Other employee benefits

  total $186,715

• 12 · Advertising and promotion

  total $156,543

• 20 · Interest

  total $4,044,395

• 22 · Depreciation, depletion and amortization

  total $7,276,811

• 24a · Other expenses: COST OF POWER - PURCHAS

  total $34,685,282

• 24b · Other expenses: DISTRIBUTION - MAINTENA

  total $9,160,563

• 24c · Other expenses: TRANSMISSIONS

  total $9,002,223

• 24d · Other expenses: COST OF POWER - PRODUCE

  total $6,445,925

• 24e · All other expenses

  total $14,093,911

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,500 · end of year $2,500

• 2 · Savings and temporary cash investments

  beginning of year $2,178,536 · end of year $1,105,030

• 4 · Accounts receivable

  beginning of year $9,765,522 · end of year $10,559,794

• 8 · Inventories for sale or use

  beginning of year $3,965,272 · end of year $5,341,299

• 9 · Prepaid expenses and deferred charges

  beginning of year $435,727 · end of year $321,782

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

  $238,876,467

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

  $67,535,095

• 10c · Land, buildings and equipment, net

  beginning of year $168,513,311 · end of year $171,341,372

• 12 · Investments: other securities

  beginning of year $16,918,950 · end of year $17,655,039

• 15 · Other assets

  beginning of year $8,563,761 · end of year $7,849,621

• 17 · Accounts payable and accrued expenses

  beginning of year $9,979,277 · end of year $12,821,577

• 19 · Deferred revenue

  beginning of year $681,096 · end of year $672,545

• 23 · Secured mortgages and notes payable

  beginning of year $125,873,252 · end of year $132,130,105

• 25 · Other liabilities

  beginning of year $10,658,182 · end of year $3,211,892

• 29 · Capital stock, trust principal or current funds

  beginning of year $176,805 · end of year $185,215

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

  beginning of year $2,030,704 · end of year $2,176,671

• 31 · Retained earnings, endowment or other funds

  beginning of year $60,944,263 · end of year $62,978,432

The filer's explanations (Part III)

PART I, LINE 1A

A HOUSING ALLOWANCE WAS PROVIDED TO CEO MICHAEL HEISE AND COO PATRICK FRAZIER AS PART OF A RELOCATION PACKAGE.

SCHEDULE J, PART I, QUESTION 4B

MICHAEL HEISE RECEIVED A $27,000 EMPLOYER CONTRIBUTION INTO HIS 457B ACCOUNT IN 2022.