Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $10,427,109 · related or exempt $10,427,109

• 2b · Program service revenue: CAPITAL CREDITS

  total $474,211 · related or exempt $474,211

• 3 · Investment income

  total $70,123 · excluded $70,123

• 7a · Gross sales of assets other than inventory

  other assets $6,276

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

  other assets $0

• 7c · Gain or loss

  other assets $6,276

• 7d · Net gain or loss

  total $6,276 · excluded $6,276

• 10a · Gross sales of inventory

  $189,658

• 10b · Cost of goods sold

  $198,570

• 10c · Net income from sales of inventory

  total -$8,912 · related or exempt -$8,912

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $6,430

• 4 · Benefits paid to or for members

  total $683,354

• 5 · Compensation of officers, directors and key employees

  total $253,596

• 7 · Other salaries and wages

  total $1,309,107

• 8 · Pension plan contributions

  total $290,429

• 10 · Payroll taxes

  total $111,609

• 20 · Interest

  total $828,964

• 22 · Depreciation, depletion and amortization

  total $1,279,574

• 24a · Other expenses: COST OF POWER

  total $5,636,094

• 24b · Other expenses: ADMIN & GENERAL

  total $886,426

• 24c · Other expenses: DISTRIBUTION-OPERATIONS

  total $804,161

• 24d · Other expenses: DISTRIBUTION-MAINTENANC

  total $314,972

• 24e · All other expenses

  total -$1,435,909

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $996,344 · end of year $1,172,396

• 4 · Accounts receivable

  beginning of year $837,639 · end of year $989,481

• 8 · Inventories for sale or use

  beginning of year $1,265,429 · end of year $1,370,860

• 9 · Prepaid expenses and deferred charges

  beginning of year $310,499 · end of year $342,631

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

  $48,527,911

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

  $13,919,171

• 10c · Land, buildings and equipment, net

  beginning of year $34,171,588 · end of year $34,608,740

• 12 · Investments: other securities

  beginning of year $609,973 · end of year $57,763

• 13 · Investments: program-related

  beginning of year $6,975,940 · end of year $7,155,206

• 15 · Other assets

  beginning of year $5,542 · end of year $5,388

• 17 · Accounts payable and accrued expenses

  beginning of year $1,652,850 · end of year $1,762,300

• 23 · Secured mortgages and notes payable

  beginning of year $24,369,266 · end of year $25,008,784

• 25 · Other liabilities

  beginning of year $989,156 · end of year $469,465

• 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 $18,161,682 · end of year $18,461,916

The filer's explanations (Part III)

EXPLANATION OF AMOUNT REPORTED IN PART II, COLUMN (C)

INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $91,033 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR CHRISTOPHER LARSON. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $37,741. INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $45,593 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR CURT JOHNSON. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $23,173.