Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRICITY SALES

  total $23,130,230 · related or exempt $23,130,230

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $726,144 · related or exempt $726,144

• 3 · Investment income

  total $37,638 · excluded $37,638

• 5 · Royalties

  total $23 · excluded $23

• 7a · Gross sales of assets other than inventory

  other assets $57,000

• 7c · Gain or loss

  other assets $57,000

• 7d · Net gain or loss

  total $57,000 · excluded $57,000

• 10a · Gross sales of inventory

  $102,464

• 10b · Cost of goods sold

  $84,968

• 10c · Net income from sales of inventory

  total $17,496 · unrelated business $17,496

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $2,453,426

• 5 · Compensation of officers, directors and key employees

  total $487,233

• 7 · Other salaries and wages

  total $505,095

• 20 · Interest

  total $1,613,772

• 22 · Depreciation, depletion and amortization

  total $2,068,145

• 24a · Other expenses: COST OF POWER

  total $11,386,661

• 24b · Other expenses: DISTRIBUTION

  total $3,640,653

• 24c · Other expenses: GENERAL & ADMINISTRATIVE

  total $794,892

• 24d · Other expenses: CONSUMER ACCOUNTS

  total $547,488

• 24e · All other expenses

  total $474,975

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,113,641 · end of year $1,260,685

• 2 · Savings and temporary cash investments

  end of year $1,100,000

• 4 · Accounts receivable

  beginning of year $3,840,132 · end of year $2,926,824

• 8 · Inventories for sale or use

  beginning of year $1,304,018 · end of year $1,325,290

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,859,177 · end of year $1,458,125

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

  $81,057,453

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

  $18,359,183

• 10c · Land, buildings and equipment, net

  beginning of year $61,432,080 · end of year $62,698,270

• 13 · Investments: program-related

  beginning of year $10,281,400 · end of year $10,978,658

• 14 · Intangible assets

  end of year $2,075,619

• 17 · Accounts payable and accrued expenses

  beginning of year $2,340,934 · end of year $2,048,818

• 23 · Secured mortgages and notes payable

  beginning of year $48,858,544 · end of year $49,890,922

• 25 · Other liabilities

  beginning of year $476,765 · end of year $446,948

• 29 · Capital stock, trust principal or current funds

  beginning of year $139,720 · end of year $141,075

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

  beginning of year $20,056 · end of year $20,551

• 31 · Retained earnings, endowment or other funds

  beginning of year $28,994,429 · end of year $31,275,157

The filer's explanations (Part III)

SCHEDULE J, PART III

PART II (D) NONTAXABLE BENEFITS NONTAXABLE BENEFITS PRIMARILY INCLUDE PREMIUMS PAID FOR EMPLOYEE MEDICAL, DENTAL AND PRESCRIPTION INSURANCE. BLUE CROSS BLUE SHIELD OF OKLAHOMA ADMINISTERS THESE PLANS.

Related corporations and trusts

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

• NORTHFORK ENTERPRISES INC

  C CORP · COMM. · OK · 100% owned · share of income $14,699 · share of assets $62,838

  Directly controlled by NFEC NORTHFORK ELECTRIC COOPERATIVE INC