Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $10,663,323 · related or exempt $10,663,323

• 2b · Program service revenue: CAPITAL CREDITS

  total $721,349 · related or exempt $721,349

• 2f · All other program service revenue

  total $57,439 · related or exempt $57,439

• 3 · Investment income

  total $40,848 · excluded $40,848

• 10a · Gross sales of inventory

  $1,426,437

• 10b · Cost of goods sold

  $1,378,230

• 10c · Net income from sales of inventory

  total $48,207 · related or exempt $33,863 · unrelated business $14,344

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $841,103

• 5 · Compensation of officers, directors and key employees

  total $305,181

• 7 · Other salaries and wages

  total $1,662,038

• 8 · Pension plan contributions

  total $311,424

• 10 · Payroll taxes

  total $139,182

• 20 · Interest

  total $779,306

• 22 · Depreciation, depletion and amortization

  total $1,137,209

• 24a · Other expenses: UBI TAX

  total $1,520

• 24b · Other expenses: COST OF POWER

  total $5,892,895

• 24c · Other expenses: ADMIN & GENERAL

  total $978,430

• 24d · Other expenses: DISTRIBUTION-OPERATIONS

  total $673,696

• 24e · All other expenses

  total -$1,296,463

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $580,337 · end of year $849,352

• 4 · Accounts receivable

  beginning of year $1,178,607 · end of year $1,100,694

• 7 · Other notes and loans receivable

  beginning of year $336,230 · end of year $284,440

• 8 · Inventories for sale or use

  beginning of year $965,688 · end of year $1,425,978

• 9 · Prepaid expenses and deferred charges

  beginning of year $313,729 · end of year $993,558

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

  $41,315,252

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

  $11,515,545

• 10c · Land, buildings and equipment, net

  beginning of year $28,466,700 · end of year $29,799,707

• 12 · Investments: other securities

  beginning of year $495,616 · end of year $486,121

• 13 · Investments: program-related

  beginning of year $7,443,963 · end of year $7,863,059

• 17 · Accounts payable and accrued expenses

  beginning of year $1,175,050 · end of year $1,065,222

• 23 · Secured mortgages and notes payable

  beginning of year $24,095,008 · end of year $26,760,797

• 25 · Other liabilities

  beginning of year $625,035 · end of year $637,572

• 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 $13,885,777 · end of year $14,339,318

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN (C)

COLUMN C FOR DAVID PAGE AND JONATHAN CHRISTENSEN INCLUDES THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR DAVID OF $65,258 AND $21,074 FOR JONATHAN. THE ACTUAL CONTRIBUTION BY THE COOPERATIVE INTO THE DEFINED BENEFIT PLAN FOR DAVID AND JONATHAN WAS $39,274 AND $29,187, RESPECTIVELY.