Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $37,428,188 · related or exempt $37,428,188

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $1,877,076 · related or exempt $1,877,076

• 2c · Program service revenue: SERVICE FEES

  total $226,053 · related or exempt $226,053

• 2d · Program service revenue: TRANSMISSION ACCESS/WHEELING

  total $64,713 · related or exempt $64,713

• 2e · Program service revenue: OTHER PROGRAM REVENUE

  total $9,237 · related or exempt $9,237

• 3 · Investment income

  total $102,664 · excluded $102,664

• 7a · Gross sales of assets other than inventory

  other assets $56,794

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

  other assets $1,206

• 7c · Gain or loss

  other assets $55,588

• 7d · Net gain or loss

  total $55,588 · related or exempt $55,588

• 10a · Gross sales of inventory

  $10,717

• 10b · Cost of goods sold

  $13,409

• 10c · Net income from sales of inventory

  total -$2,692 · related or exempt -$1,501 · unrelated business -$1,191

• 11a · Other revenue: FIBER ACCESS REVENUE

  total $4,127,730 · unrelated business $4,127,730

• 11b · Other revenue: FIBER CONSTRUCTION GRANTS

  total $2,062,365 · unrelated business $2,056,955 · excluded $5,410

• 11c · Other revenue: POLE ATTACHMENT INCOME

  total $95,424 · excluded $95,424

• 11d · All other revenue

  total $5,410 · excluded $5,410

• 11e · Other revenue, total

  $6,290,929

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $9,201

• 4 · Benefits paid to or for members

  total $1,480,209

• 5 · Compensation of officers, directors and key employees

  total $841,924

• 7 · Other salaries and wages

  total $3,145,605

• 8 · Pension plan contributions

  total $657,465

• 9 · Other employee benefits

  total $805,640

• 10 · Payroll taxes

  total $229,348

• 20 · Interest

  total $5,543,679

• 22 · Depreciation, depletion and amortization

  total $4,272,564

• 24a · Other expenses: PURCHASED POWER

  total $19,138,187

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $5,536,423

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,102,385

• 24d · Other expenses: TAXES

  total $752,249

• 24e · All other expenses

  total $474,512

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,281,691 · end of year $1,340,206

• 2 · Savings and temporary cash investments

  end of year $30,719

• 4 · Accounts receivable

  beginning of year $4,391,608 · end of year $4,884,423

• 8 · Inventories for sale or use

  beginning of year $10,438,459 · end of year $10,619,008

• 9 · Prepaid expenses and deferred charges

  beginning of year $177,440 · end of year $164,276

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

  $173,626,398

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

  $25,224,058

• 10c · Land, buildings and equipment, net

  beginning of year $106,591,901 · end of year $148,402,340

• 13 · Investments: program-related

  beginning of year $20,547,486 · end of year $23,783,736

• 15 · Other assets

  beginning of year $839,772 · end of year $581,666

• 17 · Accounts payable and accrued expenses

  beginning of year $7,613,596 · end of year $7,732,556

• 23 · Secured mortgages and notes payable

  beginning of year $84,362,457 · end of year $127,193,840

• 25 · Other liabilities

  beginning of year $1,854,984 · end of year $3,003,330

• 29 · Capital stock, trust principal or current funds

  beginning of year $269,750 · end of year $271,890

• 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 $50,167,570 · end of year $51,604,758

The filer's explanations (Part III)

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. JARROD CAMPBELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $113,408 EMPLOYER CONTRIBUTION TO 401(K) PLAN 12,445 TOTAL REPORTED IN COLUMN C $125,853 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (113,408) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 78,744 EXPENSE TO THE COOPERATIVE $ 91,189 JAMES NISSEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 41,728 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 41,728 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (41,728) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 30,456 EXPENSE TO THE COOPERATIVE $ 30,456 MICHAEL MASTEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 56,312 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,642 TOTAL REPORTED IN COLUMN C $ 62,954 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (56,312) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 42,564 EXPENSE TO THE COOPERATIVE $ 49,206 JAROD MCBRAYER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,931 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 29,931 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (29,931) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 30,456 EXPENSE TO THE COOPERATIVE $ 30,456 MATTHEW SHARP: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 15,405 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,987 TOTAL REPORTED IN COLUMN C $ 22,392 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (15,405) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 33,791 EXPENSE TO THE COOPERATIVE $ 40,778 DANIEL LEWIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 23,396 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 23,396 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (23,396) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 30,456 EXPENSE TO THE COOPERATIVE $ 30,456 TREVON RILEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,385 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,987 TOTAL REPORTED IN COLUMN C $ 18,372 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (11,385) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 33,791 EXPENSE TO THE COOPERATIVE $ 40,778

Related corporations and trusts

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

• OSAGE VALLEY TECHNOLOGIES LLC

  C · TELECOMMUNICATIONS · MO · 100% owned · controlled entity

  Directly controlled by OSAGE VALLEY ELECTRIC COOPEATIVE ASSOCIATION