Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $63,893,059 · related or exempt $63,893,059

• 2b · Program service revenue: SERVICE FEES

  total $560,844 · related or exempt $560,844

• 2c · Program service revenue: PATRONAGE DIVIDENDS

  total $257,219 · related or exempt $257,219

• 3 · Investment income

  total $717,624 · excluded $717,624

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $104,398 · excluded $104,398

• 11b · Other revenue: BOND SECURITIZATION P'SHIP INCOME

  total $49,330 · related or exempt $49,330

• 11c · Other revenue: MISCELLANEOUS REVENUE

  total $3,391 · related or exempt $3,391

• 11e · Other revenue, total

  $157,119

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,575,425

• 5 · Compensation of officers, directors and key employees

  total $1,537,015

• 7 · Other salaries and wages

  total $1,956,680

• 8 · Pension plan contributions

  total $193,495

• 9 · Other employee benefits

  total $342,897

• 10 · Payroll taxes

  total $350,356

• 20 · Interest

  total $1,123,596

• 22 · Depreciation, depletion and amortization

  total $3,613,890

• 24a · Other expenses: PURCHASED POWER

  total $49,422,304

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $3,504,370

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,297,281

• 24d · Other expenses: CONSUMER EXPENSE

  total $655,204

• 24e · All other expenses

  total $13,352

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $507,758 · end of year $758,892

• 2 · Savings and temporary cash investments

  beginning of year $10,801,099 · end of year $11,506,733

• 4 · Accounts receivable

  beginning of year $8,362,116 · end of year $7,676,349

• 8 · Inventories for sale or use

  beginning of year $1,201,602 · end of year $1,130,051

• 9 · Prepaid expenses and deferred charges

  beginning of year $286,326 · end of year $276,011

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

  $93,380,702

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

  $27,339,354

• 10c · Land, buildings and equipment, net

  beginning of year $65,082,882 · end of year $66,041,348

• 13 · Investments: program-related

  beginning of year $31,256,419 · end of year $31,463,473

• 15 · Other assets

  beginning of year $310,065 · end of year $146,774

• 17 · Accounts payable and accrued expenses

  beginning of year $5,898,961 · end of year $6,242,249

• 23 · Secured mortgages and notes payable

  beginning of year $31,374,959 · end of year $30,061,524

• 25 · Other liabilities

  beginning of year $5,041,030 · end of year $7,501,957

• 29 · Capital stock, trust principal or current funds

  beginning of year $147,525 · end of year $151,505

• 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 $75,345,792 · end of year $75,042,396

The filer's explanations (Part III)

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, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. 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. LINDY SHAW: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 50,137 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (50,137) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,774 EXPENSE TO THE COOPERATIVE $ 33,774 COURTNEY SADBERRY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 32,551 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (32,551) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 40,438 EXPENSE TO THE COOPERATIVE $ 40,438 MIKE LAWRENCE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 65,219 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (65,219) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,886 EXPENSE TO THE COOPERATIVE $ 28,886 MARK RASH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 26,885 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (26,885) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,886 EXPENSE TO THE COOPERATIVE $ 28,886 LARRY HARRISON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 27,130 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (27,130) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,336 EXPENSE TO THE COOPERATIVE $ 20,336 JERAD TAYLOR: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,449 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,449) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,553 EXPENSE TO THE COOPERATIVE $ 25,553 ALBERT FISHER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 21,960 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,960) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,336 EXPENSE TO THE COOPERATIVE $ 20,336 BARBARA SIVILS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,982 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,982) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,109 EXPENSE TO THE COOPERATIVE $ 21,109 CLARENCE BARBER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,155 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,155) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,288 EXPENSE TO THE COOPERATIVE $ 21,288 MATTHEW CUNNINGHAM: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 10,524 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (10,524) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,288 EXPENSE TO THE COOPERATIVE $ 21,288