Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $19,600,727 · related or exempt $19,600,727

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $795,479 · related or exempt $795,479

• 2c · Program service revenue: SERVICE FEES

  total $39,772 · related or exempt $39,772

• 3 · Investment income

  total $247,151 · excluded $247,151

• 6a · Gross rents

  personal property $2,331

• 6b · Less rental expenses

  personal property $0

• 6c · Rental income or loss

  personal property $2,331

• 6d · Net rental income or loss

  total $2,331 · unrelated business $2,331

• 7a · Gross sales of assets other than inventory

  other assets $45,392

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

  other assets $0

• 7c · Gain or loss

  other assets $45,392

• 7d · Net gain or loss

  total $45,392 · related or exempt $45,392

• 11a · Other revenue: ELECTRICIAN/HVAC SERVICE

  total $509,372 · unrelated business $509,372

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $4,536 · excluded $4,536

• 11c · Other revenue: MISC NON-OPERATING INCOME

  total $2,668 · related or exempt $2,668

• 11e · Other revenue, total

  $516,576

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $16,253

• 2 · Grants to domestic individuals

  total $9,000

• 4 · Benefits paid to or for members

  total $2,234,965

• 5 · Compensation of officers, directors and key employees

  total $954,588

• 7 · Other salaries and wages

  total $1,062,966

• 8 · Pension plan contributions

  total $340,300

• 9 · Other employee benefits

  total $149,233

• 10 · Payroll taxes

  total $116,744

• 20 · Interest

  total $1,123,156

• 22 · Depreciation, depletion and amortization

  total $2,068,859

• 24a · Other expenses: PURCHASED POWER

  total $10,091,873

• 24b · Other expenses: DISTRIBUTION EXP.

  total $1,077,120

• 24c · Other expenses: ADMIN & GENERAL EXP.

  total $1,003,539

• 24d · Other expenses: ELECTRICIAN/HVAC EXP.

  total $490,243

• 24e · All other expenses

  total $193,889

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $341,186 · end of year $157,507

• 2 · Savings and temporary cash investments

  beginning of year $5,822,069 · end of year $5,965,880

• 4 · Accounts receivable

  beginning of year $1,394,999 · end of year $1,642,421

• 8 · Inventories for sale or use

  beginning of year $725,822 · end of year $822,443

• 9 · Prepaid expenses and deferred charges

  beginning of year $299,578 · end of year $306,163

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

  $68,599,590

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

  $26,754,245

• 10c · Land, buildings and equipment, net

  beginning of year $41,977,189 · end of year $41,845,345

• 13 · Investments: program-related

  beginning of year $13,804,587 · end of year $14,119,267

• 15 · Other assets

  beginning of year $76,666 · end of year $47,000

• 17 · Accounts payable and accrued expenses

  beginning of year $1,125,177 · end of year $1,343,217

• 23 · Secured mortgages and notes payable

  beginning of year $35,405,108 · end of year $33,997,817

• 25 · Other liabilities

  beginning of year $907,471 · end of year $601,159

• 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 $27,004,340 · end of year $28,963,833

The filer's explanations (Part III)

PART I, LINE 1A

TRAVEL FOR COMPANIONS - PURSUANT TO APPLICABLE TRAVEL POLICIES, THE COOPERATIVE WILL REIMBURSE TRUSTEES THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL BUSINESS OF THE COOPERATIVE. REIMBURSABLE COSTS INCLUDE TRAVEL AND MEAL ALLOWANCES. THE COOPERATIVE WILL ALSO REIMBURSE AN EMPLOYEE FOR TRANSPORTATION AND LODGING COSTS OF HIS/HER SPOUSE FOR APPROVED TRAVEL. DURING THE YEAR, THREE INDIVIDUALS REPORTED ON FORM 990, PART VII - RANDALL G. EVANS, RANDY J. EVANS, AND CRAIG RAMSEY - RECEIVED THIS BENEFIT. SINCE THE COOPERATIVE CONSIDERS THE REIMBURSEMENT TO BE CONSISTENT TO A BONA FIDE BUSINESS PURPOSE, SUCH REIMBURSEMENTS WERE TREATED AS EXPENSES EXCLUDED FROM THE REPORTABLE COMPENSATION OF EACH.

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. 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. RICHARD MCLEON ACTUARIAL INCREASE IN DEFERRED BENEFIT PLAN $ 0 EMPLOYER CONTRIBUTION TO 401(K) 7,869 TOTAL REPORTED IN COLUMN C 7,869 LESS: ACTUARIAL INCREASE IN DBP (0) ADD: CASH CONTRIBUTION TO DBP 87,465 EXPENSE TO THE COOPERATIVE $ 95,334 DAL HAWKINSON ACTUARIAL INCREASE IN DEFERRED BENEFIT PLAN $ 79,739 EMPLOYER CONTRIBUTION TO 401(K) 7,276 TOTAL REPORTED IN COLUMN C 87,015 LESS: ACTUARIAL INCREASE IN DBP (79,739) ADD: CASH CONTRIBUTION TO DBP 46,305 EXPENSE TO THE COOPERATIVE $ 53,581 KASEY JENKINSON ACTUARIAL INCREASE IN DEFERRED BENEFIT PLAN $ 87,560 EMPLOYER CONTRIBUTION TO 401(K) 6,028 TOTAL REPORTED IN COLUMN C 93,588 LESS: ACTUARIAL INCREASE IN DBP (87,560) ADD: CASH CONTRIBUTION TO DBP 39,432 EXPENSE TO THE COOPERATIVE $ 45,460 BENJAMIN MANN ACTUARIAL INCREASE IN DEFERRED BENEFIT PLAN $ 50,335 EMPLOYER CONTRIBUTION TO 401(K) 5,428 TOTAL REPORTED IN COLUMN C 55,763 LESS: ACTUARIAL INCREASE IN DBP (50,335) ADD: CASH CONTRIBUTION TO DBP 35,508 EXPENSE TO THE COOPERATIVE $ 40,936 MYRON SEIB ACTUARIAL INCREASE IN DEFERRED BENEFIT PLAN $ 38,556 EMPLOYER CONTRIBUTION TO 401(K) 5,220 TOTAL REPORTED IN COLUMN C 43,776 LESS: ACTUARIAL INCREASE IN DBP (38,556) ADD: CASH CONTRIBUTION TO DBP 34,153 EXPENSE TO THE COOPERATIVE $ 39,373 CHRIS TERHUNE ACTUARIAL INCREASE IN DEFERRED BENEFIT PLAN $ 31,607 EMPLOYER CONTRIBUTION TO 401(K) 5,428 TOTAL REPORTED IN COLUMN C 37,035 LESS: ACTUARIAL INCREASE IN DBP (31,607) ADD: CASH CONTRIBUTION TO DBP 35,508 EXPENSE TO THE COOPERATIVE $ 40,936 BLAKE MCVICKER ACTUARIAL INCREASE IN DEFERRED BENEFIT PLAN $ 6,306 EMPLOYER CONTRIBUTION TO 401(K) 5,012 TOTAL REPORTED IN COLUMN C 11,318 LESS: ACTUARIAL INCREASE IN DBP (6,306) ADD: CASH CONTRIBUTION TO DBP 32,783 EXPENSE TO THE COOPERATIVE $ 37,795 CARRIE BORELL ACTUARIAL INCREASE IN DEFERRED BENEFIT PLAN $ 33,474 EMPLOYER CONTRIBUTION TO 401(K) 4,722 TOTAL REPORTED IN COLUMN C 38,196 LESS: ACTUARIAL INCREASE IN DBP (33,474) ADD: CASH CONTRIBUTION TO DBP 26,897 EXPENSE TO THE COOPERATIVE $ 31,619