Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $22,976,919 · related or exempt $22,976,919

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $509,457 · related or exempt $509,457

• 2c · Program service revenue: SERVICE REVENUE

  total $73,686 · related or exempt $73,686

• 3 · Investment income

  total $44,588 · excluded $44,588

• 6a · Gross rents

  personal property $3,510

• 6c · Rental income or loss

  personal property $3,510

• 6d · Net rental income or loss

  total $3,510 · excluded $3,510

• 7a · Gross sales of assets other than inventory

  other assets $118,470

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

  other assets $22,580

• 7c · Gain or loss

  other assets $95,890

• 7d · Net gain or loss

  total $95,890 · excluded $95,890

• 10a · Gross sales of inventory

  $758,272

• 10b · Cost of goods sold

  $563,966

• 10c · Net income from sales of inventory

  total $194,306 · excluded $194,306

• 11a · Other revenue: MISC REVENUE

  total $67,531 · related or exempt $67,531

• 11e · Other revenue, total

  $67,531

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,450

• 4 · Benefits paid to or for members

  total $959,643

• 5 · Compensation of officers, directors and key employees

  total $520,588

• 7 · Other salaries and wages

  total $742,176

• 20 · Interest

  total $1,243,038

• 22 · Depreciation, depletion and amortization

  total $1,680,192

• 24a · Other expenses: COST OF POWER

  total $14,101,873

• 24b · Other expenses: DISTRIBUTION

  total $3,078,892

• 24c · Other expenses: CONSUMER EXPENSE

  total $1,047,560

• 24d · Other expenses: GENERAL & ADMINISTRATIVE

  total $352,359

• 24e · All other expenses

  total $238,116

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,164,522 · end of year $1,611,283

• 2 · Savings and temporary cash investments

  end of year $1,936,708

• 4 · Accounts receivable

  beginning of year $5,004,230 · end of year $5,135,642

• 8 · Inventories for sale or use

  beginning of year $509,784

• 9 · Prepaid expenses and deferred charges

  beginning of year $103,642 · end of year $93,189

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

  $71,916,248

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

  $11,885,832

• 10c · Land, buildings and equipment, net

  beginning of year $57,808,101 · end of year $60,030,416

• 12 · Investments: other securities

  beginning of year $8,243,116 · end of year $8,478,655

• 15 · Other assets

  beginning of year $168,443 · end of year $33,822

• 17 · Accounts payable and accrued expenses

  beginning of year $3,050,272 · end of year $1,974,832

• 23 · Secured mortgages and notes payable

  beginning of year $35,477,087 · end of year $38,865,316

• 25 · Other liabilities

  beginning of year $3,714,441 · end of year $3,029,779

• 29 · Capital stock, trust principal or current funds

  beginning of year $40,735 · end of year $39,665

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

  beginning of year $2,630,716 · end of year $3,361,893

• 31 · Retained earnings, endowment or other funds

  beginning of year $29,088,587 · end of year $30,048,230

The filer's explanations (Part III)

SCHEDULE J, PART III

PART III, COLUMN C. - INCLUDED IN THIS AMOUNT ARE THE EMPLOYER CONTRIBUTIONS TO THE DEFINED CONTRIBUTION PLAN (401K), CASH CONTRIBUTIONS TO THE MULTI-EMPLOYER NRECA R&S DEFINED BENEFIT PLAN, AND THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER THE NRECA R&S DEFINED BENEFIT PLAN. THE CHANGE FOR ACTUARIAL VALUE FOR EACH INDIVIDUAL PARTICIPANT IS BASED ON ACTUARIAL DATA AND ASSUMPTIONS. THE ACTUARIAL AMOUNTS INCLUDED IN THIS COLUMN ARE AS FOLLOWS: JEFF SIMPSON ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 115,932 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,784 TOTAL REPORTED IN COLUMN C 119,716 LESS: ACTUARIAL INCREASE 115,932 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 49,344 EXPENSE TO THE COOPERATIVE 53,128 MIKE WOLFE ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 67,831 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,319 TOTAL REPORTED IN COLUMN C 70,150 LESS: ACTUARIAL INCREASE 67,831 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,121 EXPENSE TO THE COOPERATIVE 32,440 ROBERT REID ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 46,899 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,108 TOTAL REPORTED IN COLUMN C 49,007 LESS: ACTUARIAL INCREASE 46,899 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,384 EXPENSE TO THE COOPERATIVE 29,492 BARRY HOLT ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 86,719 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,842 TOTAL REPORTED IN COLUMN C 88,561 LESS: ACTUARIAL INCREASE 86,719 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,824 EXPENSE TO THE COOPERATIVE 25,666