Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Electric Service

  total $14,301,283 · related or exempt $14,301,283

• 2b · Program service revenue: Capital Credits

  total $438,506 · related or exempt $438,506

• 2c · Program service revenue: Non-Operating Margins

  total $386,179 · related or exempt $386,179

• 2d · Program service revenue: Merchandising

  total $60,820 · related or exempt $60,820

• 2e · Program service revenue: Other Electric Revenue

  total $38,004 · related or exempt $38,004

• 3 · Investment income

  total $80,256 · related or exempt $80,256

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $443,714 · program services $443,714

• 5 · Compensation of officers, directors and key employees

  total $606,094 · program services $606,094

• 20 · Interest

  total $1,205,613 · program services $1,205,613

• 22 · Depreciation, depletion and amortization

  total $1,477,818 · program services $1,477,818

• 24a · Other expenses: Purchased Power

  total $7,033,773 · program services $7,033,773

• 24b · Other expenses: Distribution Expense-Ma

  total $1,579,362 · program services $1,579,362

• 24c · Other expenses: Distribution Expense-Op

  total $1,124,473 · program services $1,124,473

• 24d · Other expenses: Administrative Expenses

  total $918,639 · program services $918,639

• 24e · All other expenses

  total $766,393 · program services $766,393

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $974,508 · end of year $358,396

• 2 · Savings and temporary cash investments

  beginning of year $930,261 · end of year $957,467

• 4 · Accounts receivable

  beginning of year $1,179,278 · end of year $1,361,113

• 8 · Inventories for sale or use

  end of year $883

• 9 · Prepaid expenses and deferred charges

  beginning of year $965,655 · end of year $800,385

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

  $56,433,977

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

  $8,906,602

• 10c · Land, buildings and equipment, net

  beginning of year $46,093,674 · end of year $47,527,375

• 13 · Investments: program-related

  beginning of year $10,969,112 · end of year $11,358,081

• 17 · Accounts payable and accrued expenses

  beginning of year $1,212,412 · end of year $1,221,899

• 23 · Secured mortgages and notes payable

  beginning of year $36,056,424 · end of year $37,239,914

• 25 · Other liabilities

  beginning of year $1,638,003 · end of year $1,546,854

• 29 · Capital stock, trust principal or current funds

  beginning of year $25,485 · end of year $25,700

• 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 $22,180,164 · end of year $22,329,333

The filer's explanations (Part III)

Part I, Line 3

The Board of directors approves the salary of the CEO annually, based on market conditions, a compensation survey and information about other electric cooperatives of similar size.

Related corporations and trusts

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

• Innovative Energy Solutions LLC

  C · Sale of Appliances and Internet Service Provider · MO · 100% owned · share of income $358,545 · share of assets $11,015,579