Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRICITY SALES

  total $411,729,431 · related or exempt $411,172,867 · unrelated business $556,564

• 2b · Program service revenue: PATRONAGE CAPITAL

  total $8,033,353 · related or exempt $8,033,353

• 2c · Program service revenue: POLE RENTAL

  total $3,961,797 · excluded $3,961,797

• 2d · Program service revenue: PROGRAM INTEREST

  total $269,878 · related or exempt $269,878

• 2e · Program service revenue: OTHER

  total $96,525 · unrelated business $96,525

• 2f · All other program service revenue

  total $58,040 · related or exempt $58,040

• 6a · Gross rents

  real property $12,265

• 6b · Less rental expenses

  real property $2,049

• 6c · Rental income or loss

  real property $10,216

• 6d · Net rental income or loss

  total $10,216 · unrelated business $10,216

• 7a · Gross sales of assets other than inventory

  other assets $230,959

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

  other assets $0

• 7c · Gain or loss

  other assets $230,959

• 7d · Net gain or loss

  total $230,959 · related or exempt $230,959

• 11a · Other revenue: OTHER

  total $139,888 · unrelated business $139,888

• 11b · Other revenue: MOTOR VEHICLE PROGRAM

  total $110,086 · unrelated business $110,086

• 11c · Other revenue: GAIN - RUS DEBT PREPAYMENT

  total $40,309 · related or exempt $40,309

• 11e · Other revenue, total

  $290,283

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $18,841,964

• 5 · Compensation of officers, directors and key employees

  total $3,826,554

• 7 · Other salaries and wages

  total $5,692,731

• 19 · Conferences, conventions and meetings

  total $86,919

• 20 · Interest

  total $18,834,510

• 22 · Depreciation, depletion and amortization

  total $28,671,894

• 24a · Other expenses: COST OF POWER

  total $273,384,930

• 24b · Other expenses: INCOME TAXES

  total $221,243

• 24c · Other expenses: DISTRIBUTION

  total $45,742,080

• 24d · Other expenses: CONSUMER ACCOUNTS

  total $9,934,847

• 24e · All other expenses

  total $19,442,810

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $264,205 · end of year $487,462

• 4 · Accounts receivable

  beginning of year $24,255,755 · end of year $23,461,350

• 8 · Inventories for sale or use

  beginning of year $22,858,534 · end of year $38,351,965

• 9 · Prepaid expenses and deferred charges

  beginning of year $7,353,651 · end of year $6,932,090

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

  $942,943,115

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

  $295,647,315

• 10c · Land, buildings and equipment, net

  beginning of year $605,722,159 · end of year $647,295,800

• 13 · Investments: program-related

  beginning of year $124,076,758 · end of year $130,093,351

• 15 · Other assets

  beginning of year $77,569,977 · end of year $68,712,291

• 17 · Accounts payable and accrued expenses

  beginning of year $66,930,675 · end of year $48,945,111

• 23 · Secured mortgages and notes payable

  beginning of year $354,407,401 · end of year $393,798,304

• 24 · Unsecured notes and loans payable

  beginning of year $10,418,812 · end of year $32,603,584

• 25 · Other liabilities

  beginning of year $21,805,785 · end of year $19,371,218

• 29 · Capital stock, trust principal or current funds

  beginning of year $792,235 · end of year $807,665

• 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 $407,746,131 · end of year $419,808,427

The filer's explanations (Part III)

LISTED PERSONS COMPENSATION INFORMATION (PART I, LINE 4)

THE COOPERATIVE HAS AGREED ON A YEAR TO YEAR BASIS TO CALCULATE THE VALUE OF THE DIFFERENCE IN THE DEFINED BENEFIT PLAN FOR THE GENERAL MANAGER/CEO IN A LUMP SUM FORM. UNDER THE CURRENT GUIDELINES OF THE DEFINED BENEFIT PLAN ADMINISTRATOR, ONE WITH IRS LIMITATIONS AND ONE WITHOUT LIMITATIONS, ANY POSITIVE VALUE WILL BE PAID AS A TAXABLE PAYMENT IN THE CURRENT YEAR. RICHARD DAVIS RECEIVED $-0- DURING 2023.