Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $121,119,095 · related or exempt $121,119,095

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $888,938 · related or exempt $888,938

• 2c · Program service revenue: SERVICE FEES

  total $856,191 · related or exempt $856,191

• 2d · Program service revenue: ELECTRICITY WHEELING

  total $370,703 · related or exempt $370,703

• 3 · Investment income

  total $330,632 · excluded $330,632

• 7a · Gross sales of assets other than inventory

  other assets $27

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

  other assets $33,029

• 7c · Gain or loss

  other assets -$33,002

• 7d · Net gain or loss

  total -$33,002 · related or exempt -$33,002

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $497,601 · excluded $497,601

• 11e · Other revenue, total

  $497,601

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $50,855

• 4 · Benefits paid to or for members

  total $6,274,700

• 5 · Compensation of officers, directors and key employees

  total $2,811,628

• 7 · Other salaries and wages

  total $8,477,748

• 8 · Pension plan contributions

  total $1,599,046

• 9 · Other employee benefits

  total $1,256,791

• 10 · Payroll taxes

  total $1,507,310

• 20 · Interest

  total $4,347,149

• 22 · Depreciation, depletion and amortization

  total $10,318,758

• 24a · Other expenses: PURCHASED POWER

  total $74,178,847

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $5,105,592

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $4,497,717

• 24d · Other expenses: CONSUMER EXPENSE

  total $1,693,208

• 24e · All other expenses

  total $597,908

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,685,449 · end of year $2,629,108

• 2 · Savings and temporary cash investments

  beginning of year $10,250,000 · end of year $0

• 4 · Accounts receivable

  beginning of year $5,025,265 · end of year $5,780,324

• 8 · Inventories for sale or use

  beginning of year $10,685,103 · end of year $11,617,581

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,836,058 · end of year $1,587,113

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

  $360,385,183

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

  $132,508,488

• 10c · Land, buildings and equipment, net

  beginning of year $215,559,216 · end of year $227,876,695

• 13 · Investments: program-related

  beginning of year $58,155,412 · end of year $57,715,484

• 15 · Other assets

  beginning of year $2,181,500 · end of year $2,117,878

• 17 · Accounts payable and accrued expenses

  beginning of year $11,700,506 · end of year $11,264,276

• 23 · Secured mortgages and notes payable

  beginning of year $131,437,917 · end of year $130,009,924

• 25 · Other liabilities

  beginning of year $15,911,785 · end of year $16,682,265

• 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 $7,216,511 · end of year $8,197,645

• 31 · Retained earnings, endowment or other funds

  beginning of year $142,111,284 · end of year $143,170,073

The filer's explanations (Part III)

PART I, LINE 4A

DURING THE YEAR, CHRIS NEELY RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $50,672.

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 CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. BRIAN HEITHOFF: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 64,222 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,800 TOTAL REPORTED IN COLUMN C $ 78,022 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (64,222) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 76,960 EXPENSE TO COOPERATIVE $ 90,760 ERIC HAWKINS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,963 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,912 TOTAL REPORTED IN COLUMN C $ 30,875 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (19,963) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 50,762 EXPENSE TO COOPERATIVE $ 61,674 TOREY BELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 78,286 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,405 TOTAL REPORTED IN COLUMN C $ 85,691 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (78,286) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 37,480 EXPENSE TO COOPERATIVE $ 44,885 JAMES FREEMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 48,845 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,485 TOTAL REPORTED IN COLUMN C $ 57,330 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (48,845) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 42,334 EXPENSE TO COOPERATIVE $ 50,819 CHRIS NEELY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,379 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,877 TOTAL REPORTED IN COLUMN C $ 37,256 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,379) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,526 EXPENSE TO COOPERATIVE $ 31,403 JEREMY KONSKI: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,128 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,992 TOTAL REPORTED IN COLUMN C $ 14,120 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,128) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,195 EXPENSE TO COOPERATIVE $ 27,187 MATTHEW FREDERICKSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 21,283 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,207 TOTAL REPORTED IN COLUMN C $ 27,490 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,283) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,514 EXPENSE TO COOPERATIVE $ 39,721 BRIAN JACKSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 21,497 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,217 TOTAL REPORTED IN COLUMN C $ 26,714 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,497) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,691 EXPENSE TO COOPERATIVE $ 27,908 BLAKE REIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,432 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,702 TOTAL REPORTED IN COLUMN C $ 12,134 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,432) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,450 EXPENSE TO COOPERATIVE $ 25,152 JUSTIN BANALES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,722 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,850 TOTAL REPORTED IN COLUMN C $ 28,572 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,722) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,720 EXPENSE TO COOPERATIVE $ 36,570 CHARLES GOURDIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 28,922 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,712 TOTAL REPORTED IN COLUMN C $ 34,634 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (28,922) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,924 EXPENSE TO COOPERATIVE $ 35,636 DIEGO MARTINEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,532 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,744 TOTAL REPORTED IN COLUMN C $ 14,276 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,532) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,450 EXPENSE TO COOPERATIVE $ 25,194 AMOS GARCIA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,463 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,730 TOTAL REPORTED IN COLUMN C $ 12,193 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,463) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,549 EXPENSE TO COOPERATIVE $ 25,279 ARIL PARK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,687 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,729 TOTAL REPORTED IN COLUMN C $ 22,416 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,687) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,574 EXPENSE TO COOPERATIVE $ 35,303 LAREE ST. ONGE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 18,334 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,604 TOTAL REPORTED IN COLUMN C $ 23,938 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (18,334) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,249 EXPENSE TO COOPERATIVE $ 35,853

Related corporations and trusts

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

• AVION SOLAR LLC

  C · SOLAR ENERGY · AZ · 100% owned · share of income $3,537,726 · share of assets $20,863,711 · controlled entity

  Directly controlled by TRICO ELECTRIC COOPERATIVE INC

• CHIRREON ENERGY LLC

  C · SOLAR ENERGY · AZ · 100% owned · share of income $2,733,095 · share of assets $25,299,409 · controlled entity

  Directly controlled by TRICO ELECTRIC COOPERATIVE INC