Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC ENERGY REVENUE

  total $282,619,278 · related or exempt $282,619,278

• 2b · Program service revenue: OTHER MEMBER REVENUES

  total $1,252,266 · related or exempt $1,252,266

• 2c · Program service revenue: TRANSMISSION EXPORT REVENUE

  total $251,020 · related or exempt $251,020

• 2d · Program service revenue: SALE OF EXCESS NATURAL GAS

  total $233,538 · related or exempt $233,538

• 2e · Program service revenue: CAPITAL CREDITS

  total -$878,564 · related or exempt -$878,564

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $4,107,870 · excluded $4,107,870

• 5 · Royalties

  total $3,179,571 · excluded $3,179,571

• 6a · Gross rents

  personal property $167,477

• 6c · Rental income or loss

  real property $0 · personal property $167,477

• 6d · Net rental income or loss

  total $167,477 · excluded $167,477

• 7a · Gross sales of assets other than inventory

  other assets $228,950

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

  other assets $5,498

• 7c · Gain or loss

  securities $0 · other assets $223,452

• 7d · Net gain or loss

  total $223,452 · excluded $223,452

• 11a · Other revenue: GAIN ON DEFEASANCE

  total $934,327 · excluded $934,327

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $934,327

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $10,017,252

• 5 · Compensation of officers, directors and key employees

  total $4,627,251

• 7 · Other salaries and wages

  total $22,443,575

• 8 · Pension plan contributions

  total $1,833,392

• 9 · Other employee benefits

  total $3,632,741

• 10 · Payroll taxes

  total $1,927,481

• 11b · Fees: legal

  total $5,127,202

• 11c · Fees: accounting

  total $282,660

• 11g · Fees: other

  total $7,241,538

• 12 · Advertising and promotion

  total $1,000

• 13 · Office expenses

  total $463,540

• 14 · Information technology

  total $978,618

• 16 · Occupancy

  total $2,555,650

• 17 · Travel

  total $2,597,953

• 19 · Conferences, conventions and meetings

  total $227,694

• 20 · Interest

  total $41,187,765

• 22 · Depreciation, depletion and amortization

  total $49,852,204

• 23 · Insurance

  total $2,837,262

• 24a · Other expenses: OPERATING EXPENSE

  total $109,590,839

• 24b · Other expenses: BANK CHARGES

  total $4,882,135

• 24c · Other expenses: MAINTENANCE EXPENSE

  total $2,498,085

• 24d · Other expenses: MEMBERSHIP DUES & FEES

  total $817,533

• 24e · All other expenses

  total $0

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $145,416,617 · end of year $63,782,146

• 2 · Savings and temporary cash investments

  beginning of year $87,878,843 · end of year $2,357,028

• 4 · Accounts receivable

  beginning of year $176,726,562 · end of year $35,552,630

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 8 · Inventories for sale or use

  beginning of year $116,363,112 · end of year $70,095,583

• 9 · Prepaid expenses and deferred charges

  beginning of year $135,269,739 · end of year $12,267,348

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

  $2,098,871,848

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

  $626,160,410

• 10c · Land, buildings and equipment, net

  beginning of year $2,144,897,597 · end of year $1,472,711,438

• 12 · Investments: other securities

  beginning of year $0

• 13 · Investments: program-related

  beginning of year $0 · end of year $20,226,089

• 15 · Other assets

  beginning of year $33,485,965 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $762,394,268 · end of year $145,064,828

• 19 · Deferred revenue

  beginning of year $4,006,308 · end of year $52,480,314

• 22 · Loans and payables to officers and key people

  end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $1,903,933,151 · end of year $1,290,019,779

• 25 · Other liabilities

  beginning of year $6,705,764 · end of year $0

• 29 · Capital stock, trust principal or current funds

  beginning of year $95 · end of year $95

• 31 · Retained earnings, endowment or other funds

  beginning of year $162,998,849 · end of year $189,427,246

The filer's explanations (Part III)

Schedule J, Part I, Line 4a Severance or change-of-control payment

CLIFTON KARNEI, JOSHUA CLEVENGER, AND MICHAEL EVANS RECEIVED SEVERNCE PAYMENTS DURING 2023. CLIFTON KARNEI = $328,875 JOSHUA CLEVENGER = $118,384 MICHAEL EVANS = $50,631

Related corporations and trusts

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

• BRAZOS FUEL COMPANY

  C Corporation · FUEL PRODUCTS · TX · 100% owned · controlled entity

  Directly controlled by BRAZOS ELECTRIC