Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $48,003,003 · related or exempt $48,003,003

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $1,247,287 · related or exempt $1,247,287

• 2c · Program service revenue: SERVICE FEES

  total $275,798 · related or exempt $275,798

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $396 · related or exempt $396

• 3 · Investment income

  total $73,352 · excluded $73,352

• 6a · Gross rents

  personal property $1,969

• 6b · Less rental expenses

  personal property $0

• 6c · Rental income or loss

  personal property $1,969

• 6d · Net rental income or loss

  total $1,969 · unrelated business $1,969

• 7a · Gross sales of assets other than inventory

  other assets $64,410

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

  other assets $18,533

• 7c · Gain or loss

  other assets $45,877

• 7d · Net gain or loss

  total $45,877 · related or exempt $45,877

• 10a · Gross sales of inventory

  $181,078

• 10b · Cost of goods sold

  $261,899

• 10c · Net income from sales of inventory

  total -$80,821 · related or exempt -$80,821

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $77,400 · excluded $77,400

• 11b · Other revenue: INTERNET COMMISSIONS

  total $42,798 · unrelated business $42,798

• 11e · Other revenue, total

  $120,198

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $39,084

• 2 · Grants to domestic individuals

  total $28,000

• 4 · Benefits paid to or for members

  total $6,259,459

• 5 · Compensation of officers, directors and key employees

  total $1,508,344

• 7 · Other salaries and wages

  total $3,435,200

• 8 · Pension plan contributions

  total $776,123

• 9 · Other employee benefits

  total $734,493

• 10 · Payroll taxes

  total $322,532

• 20 · Interest

  total $1,653,325

• 22 · Depreciation, depletion and amortization

  total $3,676,671

• 24a · Other expenses: PURCHASED POWER

  total $28,837,713

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $1,250,678

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $817,422

• 24d · Other expenses: UNRELATED BUS. INC. TAX

  total $10,787

• 24e · All other expenses

  total $407,930

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,137,443 · end of year $1,001,864

• 2 · Savings and temporary cash investments

  beginning of year $647,168 · end of year $1,578,624

• 4 · Accounts receivable

  beginning of year $4,406,471 · end of year $6,487,741

• 7 · Other notes and loans receivable

  beginning of year $96,958 · end of year $33,000

• 8 · Inventories for sale or use

  beginning of year $1,061,590 · end of year $1,387,102

• 9 · Prepaid expenses and deferred charges

  beginning of year $373,764 · end of year $239,510

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

  $125,800,355

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

  $45,434,114

• 10c · Land, buildings and equipment, net

  beginning of year $73,760,614 · end of year $80,366,241

• 13 · Investments: program-related

  beginning of year $22,595,227 · end of year $23,183,804

• 15 · Other assets

  beginning of year $210,460 · end of year $139,760

• 17 · Accounts payable and accrued expenses

  beginning of year $4,194,864 · end of year $6,096,026

• 19 · Deferred revenue

  beginning of year $27,470

• 21 · Escrow or custodial account liability

  beginning of year $39,120 · end of year $46,147

• 23 · Secured mortgages and notes payable

  beginning of year $40,437,617 · end of year $43,201,098

• 25 · Other liabilities

  beginning of year $2,271,148 · end of year $2,228,070

• 29 · Capital stock, trust principal or current funds

  beginning of year $129,200 · end of year $132,255

• 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 $57,190,276 · end of year $62,714,050

The filer's explanations (Part III)

PART I, LINE 1A

NO ONE RECEIVED PAID TRAVEL FOR COMPANIONS DURING THE 2022 TAX YEAR.

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, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIORNMENT. 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. DAVID M. MCCLAIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 154,625 EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,464 TOTAL REPORTED IN COLUMN C $ 166,089 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (154,625) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 59,122 EXPENSE TO THE COOPERATIVE $ 70,586 LINDA KEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 125,144 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,122 TOTAL REPORTED IN COLUMN C $ 133,266 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (125,144) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 43,252 EXPENSE TO THE COOPERATIVE $ 51,374 PAUL JONES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 46,058 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,008 TOTAL REPORTED IN COLUMN C $ 54,066 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (46,058) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,415 EXPENSE TO THE COOPERATIVE $ 49,423 ROY HINKLE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 47,521 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,089 TOTAL REPORTED IN COLUMN C $ 55,610 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (47,521) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,370 EXPENSE TO THE COOPERATIVE $ 38,459 NAOMI BAUCOM: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 39,999 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,489 TOTAL REPORTED IN COLUMN C $ 47,488 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (39,999) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,870 EXPENSE TO THE COOPERATIVE $ 46,359 CARY MCCLINTOCK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,827 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,290 TOTAL REPORTED IN COLUMN C $ 61,117 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,827) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,624 EXPENSE TO THE COOPERATIVE $ 38,914 GABRIEL VASQUEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 27,686 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,105 TOTAL REPORTED IN COLUMN C $ 33,791 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (27,686) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,253 EXPENSE TO THE COOPERATIVE $ 30,358 JOHN VANMATER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,483 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,890 TOTAL REPORTED IN COLUMN C $ 23,373 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,483) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,394 EXPENSE TO THE COOPERATIVE $ 27,284 MIKE MARTINEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,494 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,134 TOTAL REPORTED IN COLUMN C $ 26,628 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,494) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,771 EXPENSE TO THE COOPERATIVE $ 27,905 SAM SMITH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,622 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,099 TOTAL REPORTED IN COLUMN C $ 22,721 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (19,622) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,674 EXPENSE TO THE COOPERATIVE $ 26,773

Related corporations and trusts

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

• BIG COUNTRY DEVELOPMENT CORPORATION

  C · ATTRACTING NEW INDUSTRY OR RETAINING INDUSTRY IN THE AREA · TX · 100% owned · controlled entity

  Directly controlled by BIG COUNTRY ELECTRIC COOPERATIVE INC