Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $134,499,525 · related or exempt $134,499,525

• 2b · Program service revenue: PATRONAGE DIVDENDS

  total $6,545,491 · related or exempt $6,545,491

• 2c · Program service revenue: SERVICE FEES

  total $795,556 · related or exempt $795,556

• 2d · Program service revenue: SALES FOR RESALE

  total $55,974 · related or exempt $55,974

• 3 · Investment income

  total $199,295 · excluded $199,295

• 7a · Gross sales of assets other than inventory

  other assets $253,534

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

  other assets $4,000

• 7c · Gain or loss

  other assets $249,534

• 7d · Net gain or loss

  total $249,534 · related or exempt $249,534

• 10a · Gross sales of inventory

  $12,410

• 10b · Cost of goods sold

  $12,957

• 10c · Net income from sales of inventory

  total -$547 · related or exempt -$547

• 11a · Other revenue: FIBER LEASE REVENUE

  total $2,306,933 · unrelated business $2,306,933

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $78,172 · excluded $78,172

• 11c · Other revenue: MISCELLANEOUS NON-OPERATING REVEN

  total $2,003 · excluded $2,003

• 11e · Other revenue, total

  $2,387,108

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $44,268

• 4 · Benefits paid to or for members

  total $10,972,302

• 5 · Compensation of officers, directors and key employees

  total $2,089,657

• 7 · Other salaries and wages

  total $10,384,071

• 8 · Pension plan contributions

  total $1,355,756

• 9 · Other employee benefits

  total $1,787,472

• 10 · Payroll taxes

  total $836,660

• 20 · Interest

  total $8,085,908

• 22 · Depreciation, depletion and amortization

  total $12,213,311

• 24a · Other expenses: PURCHASED POWER

  total $83,453,265

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $7,966,868

• 24c · Other expenses: CONSUMER EXPENSE

  total $2,271,779

• 24d · Other expenses: ADMIN & GENERAL EXPENSE

  total $2,146,470

• 24e · All other expenses

  total $1,124,149

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,194,975 · end of year $3,482,613

• 2 · Savings and temporary cash investments

  beginning of year $2,013,000

• 4 · Accounts receivable

  beginning of year $7,078,898 · end of year $7,083,392

• 8 · Inventories for sale or use

  beginning of year $23,170,557 · end of year $23,498,963

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,319,476 · end of year $1,035,632

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

  $509,592,960

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

  $118,489,744

• 10c · Land, buildings and equipment, net

  beginning of year $334,231,381 · end of year $391,103,216

• 13 · Investments: program-related

  beginning of year $73,443,925 · end of year $78,529,075

• 15 · Other assets

  beginning of year $8,892,682 · end of year $9,301,565

• 17 · Accounts payable and accrued expenses

  beginning of year $18,845,074 · end of year $22,237,366

• 19 · Deferred revenue

  end of year $4,000,000

• 23 · Secured mortgages and notes payable

  beginning of year $272,622,767 · end of year $313,142,711

• 25 · Other liabilities

  beginning of year $13,136,778 · end of year $12,039,879

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

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

  beginning of year $5,579,569 · end of year $8,609,522

• 31 · Retained earnings, endowment or other funds

  beginning of year $145,160,706 · end of year $154,004,978

The filer's explanations (Part III)

PART I, LINE 4A

DURING THE YEAR, TERRYL JENSEN RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $54,048.

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. RUTH MARKS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $145,612 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,550 TOTAL REPORTED IN COLUMN C $152,162 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (145,612) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 49,800 EXPENSE TO THE COOPERATIVE $ 56,350 DAVID WALDNER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $125,895 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,533 TOTAL REPORTED IN COLUMN C $130,428 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (125,895) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 54,196 EXPENSE TO THE COOPERATIVE $ 58,729 TERRYL JENSEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 83,533 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,272 TOTAL REPORTED IN COLUMN C $ 86,805 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (83,533) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,006 EXPENSE TO THE COOPERATIVE $ 29,278 SARAH PINKERTON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 87,531 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,312 TOTAL REPORTED IN COLUMN C $ 91,843 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (87,531) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 51,553 EXPENSE TO THE COOPERATIVE $ 55,865 LESLIE ULFERS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 90,252 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,501 TOTAL REPORTED IN COLUMN C $ 93,753 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (90,252) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,857 EXPENSE TO THE COOPERATIVE $ 45,358 DAVID WILLIAMS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 70,011 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,072 TOTAL REPORTED IN COLUMN C $ 73,083 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (70,011) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 36,337 EXPENSE TO THE COOPERATIVE $ 39,409 NATHANIAL OUSLER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,066 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,312 TOTAL REPORTED IN COLUMN C $ 26,378 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,066) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,675 EXPENSE TO THE COOPERATIVE $ 38,987 DENNIS SIMMONS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 28,186 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,312 TOTAL REPORTED IN COLUMN C $ 32,498 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (28,186) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,675 EXPENSE TO THE COOPERATIVE $ 38,987 KRISTI HOBBS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,601 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,716 TOTAL REPORTED IN COLUMN C $ 34,317 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (30,601) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,880 EXPENSE TO THE COOPERATIVE $ 33,596 MICHAEL ANTHOS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,439 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,061 TOTAL REPORTED IN COLUMN C $ 7,500 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,439) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,015 EXPENSE TO THE COOPERATIVE $ 18,076 TODD SHAFFER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,061 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,310 TOTAL REPORTED IN COLUMN C $ 13,371 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,061) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,715 EXPENSE TO THE COOPERATIVE $ 18,025