Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $18,652,502 · related or exempt $18,652,502

• 2b · Program service revenue: CAPITAL CREDITS

  total $1,129,126 · related or exempt $1,129,126

• 3 · Investment income

  total $111,558 · excluded $111,558

• 7a · Gross sales of assets other than inventory

  other assets $2,000

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

  other assets $0

• 7c · Gain or loss

  other assets $2,000

• 7d · Net gain or loss

  total $2,000 · excluded $2,000

• 10a · Gross sales of inventory

  $707,466

• 10b · Cost of goods sold

  $724,419

• 10c · Net income from sales of inventory

  total -$16,953 · related or exempt -$16,953

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $13,137

• 4 · Benefits paid to or for members

  total $1,539,064

• 5 · Compensation of officers, directors and key employees

  total $253,796

• 7 · Other salaries and wages

  total $1,601,605

• 8 · Pension plan contributions

  total $462,950

• 10 · Payroll taxes

  total $135,110

• 20 · Interest

  total $735,365

• 22 · Depreciation, depletion and amortization

  total $1,193,549

• 24a · Other expenses: COST OF POWER

  total $12,977,779

• 24b · Other expenses: ADMIN & GENERAL

  total $1,082,049

• 24c · Other expenses: DISTRIBUTION-OPERATIONS

  total $931,169

• 24d · Other expenses: DISTRIBUTION-MAINTENANC

  total $449,854

• 24e · All other expenses

  total -$1,671,429

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $155,250 · end of year $564,403

• 4 · Accounts receivable

  beginning of year $1,459,068 · end of year $1,743,139

• 7 · Other notes and loans receivable

  beginning of year $776,645 · end of year $670,197

• 8 · Inventories for sale or use

  beginning of year $1,162,352 · end of year $1,507,976

• 9 · Prepaid expenses and deferred charges

  beginning of year $222,111 · end of year $216,033

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

  $44,327,519

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

  $12,271,256

• 10c · Land, buildings and equipment, net

  beginning of year $30,206,076 · end of year $32,056,263

• 12 · Investments: other securities

  beginning of year $141,745 · end of year $149,933

• 13 · Investments: program-related

  beginning of year $11,013,249 · end of year $11,878,761

• 15 · Other assets

  beginning of year $1,775,000 · end of year $1,200,000

• 17 · Accounts payable and accrued expenses

  beginning of year $1,629,156 · end of year $1,802,516

• 19 · Deferred revenue

  beginning of year $1,875,131 · end of year $1,353,106

• 23 · Secured mortgages and notes payable

  beginning of year $24,779,699 · end of year $27,254,294

• 25 · Other liabilities

  beginning of year $37,317 · end of year $116,109

• 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 $18,590,193 · end of year $19,460,680

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN C

COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR EACH PERSON REQUIRED TO BE REPORTED. ACTUAL EXPENSE OF THE COOPERATIVE MAY BE MORE OR LESS THAN THE CHANGE IN THE ACTUARIAL VALUE. TIM MCINTYRE: CHANGE IN ACTUARIAL VALUE INCLUDED IN COLUMN C IS $0. ACTUAL EXPENSE OF THE COOPERATIVE IS $0. JAMES CRIMES: CHANGE IN ACTUARIAL VALUE INCLUDED IN COLUMN C IS $49,637. ACTUAL EXPENSE OF THE COOPERATIVE IS $24,534.