Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC SALES

  total $174,917,407 · related or exempt $174,917,407

• 2b · Program service revenue: OTHER CAPITAL CREDIS

  total $1,573,990 · related or exempt $1,573,990

• 2c · Program service revenue: GENERAL AND TRANSMISSION CAPI

  total $980,198 · related or exempt $980,198

• 2d · Program service revenue: OTHER REVENUE

  total -$856,540 · related or exempt -$856,540

• 3 · Investment income

  total $67,417 · excluded $67,417

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,240,944

• 5 · Compensation of officers, directors and key employees

  total $1,105,661

• 20 · Interest

  total $3,700,457

• 22 · Depreciation, depletion and amortization

  total $10,155,499

• 24a · Other expenses: PURCHASED POWER

  total $124,342,436

• 24b · Other expenses: ADMINISTRATIVE AND GENERA

  total $8,826,530

• 24c · Other expenses: DISTRIBUTION OPERATIONS

  total $8,011,245

• 24d · Other expenses: TAXES AND OTHER

  total $6,561,055

• 24e · All other expenses

  total $12,738,645

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $8,663,749 · end of year $5,776,192

• 4 · Accounts receivable

  beginning of year $11,786,815 · end of year $18,078,291

• 8 · Inventories for sale or use

  beginning of year $5,172,882 · end of year $17,821,300

• 9 · Prepaid expenses and deferred charges

  beginning of year $263,754 · end of year $255,494

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

  $319,953,931

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

  $112,370,949

• 10c · Land, buildings and equipment, net

  beginning of year $195,126,146 · end of year $207,582,982

• 11 · Investments: publicly traded securities

  beginning of year $3,000,000

• 13 · Investments: program-related

  beginning of year $18,283,601 · end of year $20,366,568

• 15 · Other assets

  beginning of year $11,273,942 · end of year $5,576,048

• 17 · Accounts payable and accrued expenses

  beginning of year $25,160,875 · end of year $32,018,656

• 23 · Secured mortgages and notes payable

  beginning of year $84,409,158 · end of year $92,566,459

• 24 · Unsecured notes and loans payable

  end of year $10,000,000

• 25 · Other liabilities

  beginning of year $44,977,875 · end of year $41,849,168

• 29 · Capital stock, trust principal or current funds

  beginning of year $314,905 · end of year $318,195

• 31 · Retained earnings, endowment or other funds

  beginning of year $98,708,076 · end of year $98,704,397

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4

A. BERL DAVIS, JR. 0 10,149 0

SCHEDULE J, PART III

THE COOPERATIVE HAS ESTABLISHED AN EXECUTIVE BENEFIT RESTORATION PLAN (EBR PLAN) UNDER IRC 457(F) FOR KEY MANAGEMENT AND HIGHLY COMPENSATED EMPLOYEES WHOSE BENEFITS UNDER THE RS PENSION PLAN ARE RESTRICTED BECAUSE OF IRS MAXIMUM LIMITATIONS ON BENEFITS OR COMPENSATION THAT MAY BE PROVIDED BY THE RS PENSION PLAN. THE ACTUARIALLY DETERMINED CURRENT YEAR PERIODIC BENEFIT EXPENSE HAS BEEN ADDED TO COLUMN (C) FOR PARTICPANTS OF THIS PLAN. THE COOPERATIVE HAS REPORTED PAYMENTS MADE FOR THE EBR PLAN IN THE CURRENT YEAR AS A COMPONENT OF COMPENSATION IN COLUMN (B)(II). COMPENSATION PREVIOUSLY REPORTED IN COLUMN (C) ON PRIOR YEAR IRS FORM 990 FILINGS HAS BEEN REPORTED IN COLUMN (F) OF THE 2022 FORM 990 IN ACCORDANCE WITH APPLICABLE DISCLOSURE REQUIREMENTS.