Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF ELECTRICITY

  total $28,895,174 · related or exempt $28,895,174

• 2b · Program service revenue: CAPITAL CREDITS

  total $297,921 · related or exempt $297,921

• 2c · Program service revenue: OTHER OPERATING REVENUE

  total $202,862 · related or exempt $202,862

• 2d · Program service revenue: RENT FROM ELECTRIC PROPERTY

  total $42,891 · excluded $42,891

• 2e · Program service revenue: MISCELLANEOUS INCOME

  total $4,962 · related or exempt $4,962

• 3 · Investment income

  total $37,578 · excluded $37,578

• 6a · Gross rents

  real property $28,701

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $28,701

• 6d · Net rental income or loss

  total $28,701 · excluded $28,701

• 7a · Gross sales of assets other than inventory

  other assets $24,000

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

  other assets $0

• 7c · Gain or loss

  other assets $24,000

• 7d · Net gain or loss

  total $24,000 · excluded $24,000

• 10a · Gross sales of inventory

  $64,402

• 10b · Cost of goods sold

  $81,140

• 10c · Net income from sales of inventory

  total -$16,738 · related or exempt -$16,738

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $5,570

• 4 · Benefits paid to or for members

  total $2,607,802

• 5 · Compensation of officers, directors and key employees

  total $1,229,645

• 7 · Other salaries and wages

  total $856,283

• 8 · Pension plan contributions

  total $173,782

• 11g · Fees: other

  total $152,539

• 12 · Advertising and promotion

  total $80,074

• 13 · Office expenses

  total $428,030

• 16 · Occupancy

  total $1,032

• 20 · Interest

  total $1,467,831

• 22 · Depreciation, depletion and amortization

  total $2,608,844

• 24a · Other expenses: COST OF POWER

  total $12,295,102

• 24b · Other expenses: DISTRIBUTION - OPERATIO

  total $3,304,219

• 24c · Other expenses: DISTRIBUTION - MAINTENA

  total $2,810,352

• 24d · Other expenses: CUSTOMER ACCOUNTS & SER

  total $872,213

• 24e · All other expenses

  total $552,364

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $4,358,414 · end of year $101,548

• 4 · Accounts receivable

  beginning of year $2,846,334 · end of year $2,628,573

• 8 · Inventories for sale or use

  beginning of year $177,179 · end of year $1,989,472

• 9 · Prepaid expenses and deferred charges

  beginning of year $301,747 · end of year $314,171

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

  $107,222,965

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

  $36,882,274

• 10c · Land, buildings and equipment, net

  beginning of year $66,727,964 · end of year $70,340,691

• 12 · Investments: other securities

  beginning of year $1,923,621 · end of year $3,005,557

• 13 · Investments: program-related

  beginning of year $9,816,656 · end of year $9,976,456

• 14 · Intangible assets

  beginning of year $168,776 · end of year $168,776

• 15 · Other assets

  beginning of year $8,665 · end of year $8,583

• 17 · Accounts payable and accrued expenses

  beginning of year $3,071,835 · end of year $2,451,283

• 19 · Deferred revenue

  beginning of year $470,103 · end of year $438,458

• 23 · Secured mortgages and notes payable

  beginning of year $37,882,059 · end of year $36,984,024

• 24 · Unsecured notes and loans payable

  end of year $1,700,000

• 25 · Other liabilities

  beginning of year $716,806 · end of year $838,935

• 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 $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $44,188,553 · end of year $46,121,127

The filer's explanations (Part III)

PART I, LINE 1A

ALL EMPLOYEE CHRISTMAS GIFTS ARE GROSSED UP AND A GROSS-UP TAXABLE PAYMENT IS PAID THROUGH PAYROLL.

PART I, LINE 1B

CEO APPROVES THE GROSS-UP OF THE CHRISTMAS GIFT.

FORM 990, SCHEDULE J, PART II

AS REQUIRED PER THE INSTRUCTIONS OF FORM 990 AND SCHEDULE J, THE AMOUNT REPORTED IN SCHEDULE J COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN RATHER THAN THE EXPENSE ON THE BOOKS OF THE COOPERATIVE.