Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC SALES

  total $136,023,173 · related or exempt $136,023,173

• 2b · Program service revenue: CAPITAL CREDITS

  total $5,491,231 · related or exempt $5,491,231

• 3 · Investment income

  total $463,678 · excluded $463,678

• 7a · Gross sales of assets other than inventory

  other assets $45,403

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

  other assets $10,721

• 7c · Gain or loss

  other assets $34,682

• 7d · Net gain or loss

  total $34,682 · related or exempt $34,682

• 11a · Other revenue: OTHER REVENUE

  total $1,333,004 · related or exempt $1,333,004

• 11b · Other revenue: JOBBING AND CONTRACT REVENUE

  total $78,034 · unrelated business $78,034

• 11c · Other revenue: COMO OIL REVENUE

  total -$12,536 · unrelated business -$12,536

• 11e · Other revenue, total

  $1,398,502

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $31,949

• 4 · Benefits paid to or for members

  total $13,037,381

• 5 · Compensation of officers, directors and key employees

  total $1,526,721

• 20 · Interest

  total $6,548,851

• 22 · Depreciation, depletion and amortization

  total $12,165,065

• 24a · Other expenses: COST OF POWER

  total $82,843,323

• 24b · Other expenses: DIST EXP - MAINTENANCE

  total $9,057,119

• 24c · Other expenses: ADMIN & GENERAL

  total $7,256,424

• 24d · Other expenses: DIST EXP - OPERATIONS

  total $6,039,093

• 24e · All other expenses

  total $7,106,654

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $15,987,927 · end of year $13,568,809

• 4 · Accounts receivable

  beginning of year $19,284,620 · end of year $16,909,661

• 7 · Other notes and loans receivable

  beginning of year $1,511,828 · end of year $1,532,519

• 8 · Inventories for sale or use

  beginning of year $4,616,666 · end of year $15,744,460

• 9 · Prepaid expenses and deferred charges

  beginning of year $619,675 · end of year $700,646

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

  $440,983,374

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

  $142,580,142

• 10c · Land, buildings and equipment, net

  beginning of year $243,289,614 · end of year $298,403,232

• 12 · Investments: other securities

  beginning of year $394,781 · end of year $405,020

• 13 · Investments: program-related

  beginning of year $70,730,498 · end of year $72,323,929

• 15 · Other assets

  beginning of year $2,672,348 · end of year $2,718,061

• 17 · Accounts payable and accrued expenses

  beginning of year $19,987,640 · end of year $23,738,741

• 19 · Deferred revenue

  beginning of year $16,562,647 · end of year $19,082,050

• 23 · Secured mortgages and notes payable

  beginning of year $179,140,511 · end of year $227,770,236

• 25 · Other liabilities

  beginning of year $1,021,997 · end of year $1,275,913

• 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 $142,395,162 · end of year $150,439,397

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II, COLUMN C

COMPENSATION OF OFFICERS, DIRECTORS, KEY EMPLOYEES, HIGHEST COMPENSATED EMPLOYEES: INCLUDED IN OTHER DEFERRED COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THESE AMOUNTS DO NOT REPRESENT ANY CURRENT YEAR CONTRIBUTIONS TO THE PLAN. THEY ARE ESTIMATES OF THE INCREASE IN THE ACTUARIAL VALUE OF THE PLANS RECEIVED FROM THE NRECA. THE CURRENT YEAR EXPENSE AND THE INCREASE IN ACTUARIAL VALUE FOR EACH EMPLOYEE ARE DISCLOSED IN THE STATEMENT ON SCHEDULE O FOR FORM 990, PART VII, COLUMN F.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• ECE NET LLC

  PROVIDER OF HIGH SPEED INTERNET SERVICE · MN · income $0 · assets $1,378,750

  Directly controlled by EAST CENTRAL ENERGY

• DIVERSIFIED ENTERPRISES LLC

  PROVIDER OF OIL, PROPANE, AND NATURAL GAS · MN · income $16,419 · assets $0

  Directly controlled by EAST CENTRAL ENERGY