Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $67,641,067 · related or exempt $67,641,067

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $554,093 · related or exempt $554,093

• 2c · Program service revenue: SERVICE FEES

  total $527,777 · related or exempt $527,777

• 3 · Investment income

  total $681,743 · excluded $681,743

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

  total $687,406 · related or exempt $687,406

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $70,552 · excluded $70,552

• 11c · Other revenue: MISCELLANEOUS REVENUE

  total $2,889 · related or exempt $2,889

• 11e · Other revenue, total

  $760,847

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $565

• 4 · Benefits paid to or for members

  total $3,987,419

• 5 · Compensation of officers, directors and key employees

  total $1,225,735

• 7 · Other salaries and wages

  total $2,140,159

• 8 · Pension plan contributions

  total $238,318

• 9 · Other employee benefits

  total $344,191

• 10 · Payroll taxes

  total $189,795

• 20 · Interest

  total $1,019,952

• 22 · Depreciation, depletion and amortization

  total $3,119,234

• 24a · Other expenses: PURCHASED POWER

  total $52,979,207

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $3,067,508

• 24c · Other expenses: ADMINISTRATIVE AND GENE

  total $1,133,758

• 24d · Other expenses: CONSUMER EXPENSE

  total $702,513

• 24e · All other expenses

  total $17,173

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $96,671 · end of year $507,758

• 2 · Savings and temporary cash investments

  beginning of year $8,424,417 · end of year $10,801,099

• 4 · Accounts receivable

  beginning of year $6,401,984 · end of year $8,362,116

• 8 · Inventories for sale or use

  beginning of year $1,086,205 · end of year $1,201,602

• 9 · Prepaid expenses and deferred charges

  beginning of year $279,197 · end of year $286,326

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

  $89,865,800

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

  $24,782,918

• 10c · Land, buildings and equipment, net

  beginning of year $62,151,535 · end of year $65,082,882

• 13 · Investments: program-related

  beginning of year $30,438,836 · end of year $31,256,419

• 15 · Other assets

  beginning of year $2,929,848 · end of year $310,065

• 17 · Accounts payable and accrued expenses

  beginning of year $12,875,480 · end of year $5,898,961

• 23 · Secured mortgages and notes payable

  beginning of year $23,487,995 · end of year $31,374,959

• 25 · Other liabilities

  beginning of year $2,876,645 · end of year $5,041,030

• 29 · Capital stock, trust principal or current funds

  beginning of year $143,945 · end of year $147,525

• 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 $72,424,628 · end of year $75,345,792

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. BILLY JONES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 45,394 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (45,394) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 43,563 EXPENSE TO THE COOPERATIVE $ 43,563 LINDY SHAW: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 35,669 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (35,669) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,238 EXPENSE TO THE COOPERATIVE $ 31,238 JILL SADBERRY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,771 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (30,771) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,063 EXPENSE TO THE COOPERATIVE $ 35,063 MIKE LAWRENCE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 59,124 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (59,124) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,562 EXPENSE TO THE COOPERATIVE $ 26,562 MARK RASH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,814 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,814) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,562 EXPENSE TO THE COOPERATIVE $ 26,562 SAMUEL MILLER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 24,977 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (24,977) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,375 EXPENSE TO THE COOPERATIVE $ 23,375 ALBERT FISHER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 21,425 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,425) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,666 EXPENSE TO THE COOPERATIVE $ 18,666 CLARENCE BARBER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 10,185 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (10,185) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,576 EXPENSE TO THE COOPERATIVE $ 19,576 JERAD TAYLOR: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,738 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,738) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,375 EXPENSE TO THE COOPERATIVE $ 23,375