Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $52,379,980 · related or exempt $52,379,980

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $613,497 · related or exempt $613,497

• 2c · Program service revenue: SERVICE FEES

  total $43,690 · related or exempt $43,690

• 3 · Investment income

  total $150,195 · excluded $150,195

• 7a · Gross sales of assets other than inventory

  other assets $67,836

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

  other assets $17,261

• 7c · Gain or loss

  other assets $50,575

• 7d · Net gain or loss

  total $50,575 · related or exempt $50,575

• 11a · Other revenue: BOND SECURITIZATION P'SHIP INCOME

  total $345,526 · related or exempt $345,526

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $52,867 · excluded $52,867

• 11c · Other revenue: WATER WELL SALES

  total $33 · excluded $33

• 11e · Other revenue, total

  $398,426

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $57,592

• 4 · Benefits paid to or for members

  total $3,042,837

• 5 · Compensation of officers, directors and key employees

  total $1,241,263

• 7 · Other salaries and wages

  total $2,940,557

• 8 · Pension plan contributions

  total $563,014

• 9 · Other employee benefits

  total $618,848

• 10 · Payroll taxes

  total $277,622

• 20 · Interest

  total $59,397

• 22 · Depreciation, depletion and amortization

  total $3,465,270

• 24a · Other expenses: PURCHASED POWER

  total $35,417,544

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $3,228,203

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,364,661

• 24d · Other expenses: CONSUMER EXPENSE

  total $418,015

• 24e · All other expenses

  total $51,791

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $8,590,896 · end of year $4,294,708

• 2 · Savings and temporary cash investments

  beginning of year $257,887 · end of year $1,033,505

• 4 · Accounts receivable

  beginning of year $2,888,841 · end of year $2,396,186

• 8 · Inventories for sale or use

  beginning of year $1,438,770 · end of year $2,003,008

• 9 · Prepaid expenses and deferred charges

  beginning of year $136,809 · end of year $2,529,492

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

  $96,861,308

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

  $42,480,559

• 10c · Land, buildings and equipment, net

  beginning of year $51,877,250 · end of year $54,380,749

• 13 · Investments: program-related

  beginning of year $28,947,076 · end of year $29,753,303

• 15 · Other assets

  beginning of year $3,419,085 · end of year $2,654,138

• 17 · Accounts payable and accrued expenses

  beginning of year $5,141,578 · end of year $3,455,380

• 21 · Escrow or custodial account liability

  beginning of year $483,371 · end of year $210,280

• 23 · Secured mortgages and notes payable

  end of year $865,826

• 25 · Other liabilities

  beginning of year $7,774,088 · end of year $7,902,230

• 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 $84,157,577 · end of year $86,611,373

The filer's explanations (Part III)

PART I, LINE 1A

TRAVEL FOR COMPANIONS - PURSUANT TO APPLICABLE TRAVEL POLICIES, THE COOPERATIVE WILL REIMBURSE DIRECTORS AND EMPLOYEES FOR THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL BUSINESS OF THE COOPERATIVE. DURING THE YEAR, TWO INDIVIDUALS (HESSE AND STEWART) REPORTED ON FORM 990, PART VII RECEIVED THIS BEENEFIT. ADDITIONALLY, THE VALUE OF THE BENEFIT WAS INCLUDED IN THEIR RESPECTIVE REPORTABLE COMPENSATION.

PART I, LINE 4A

LARRY STEWART RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $15,394 DURING THE YEAR 2023.

SCHEDULE J, 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, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. 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. NEIL HESSE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 87,646 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,162 TOTAL REPORTED IN COLUMN C $ 91,808 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (87,646) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 45,879 EXPENSE TO THE COOPERATIVE $ 50,041 JANET VOTH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 46,036 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,642 TOTAL REPORTED IN COLUMN C $ 48,678 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (46,036) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,974 EXPENSE TO THE COOPERATIVE $ 31,616 CHRIS KUBIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 23,384 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,642 TOTAL REPORTED IN COLUMN C $ 26,026 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (23,384) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,693 EXPENSE TO THE COOPERATIVE $ 28,335 RONNIE BAYER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 41,250 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,272 TOTAL REPORTED IN COLUMN C $ 43,522 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (41,250) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,946 EXPENSE TO THE COOPERATIVE $ 27,218 DANIEL BLACK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,283 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,642 TOTAL REPORTED IN COLUMN C $ 16,925 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,283) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,974 EXPENSE TO THE COOPERATIVE $ 31,616 GARY GREWING: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,772 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,778 TOTAL REPORTED IN COLUMN C $ 24,550 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,772) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,574 EXPENSE TO THE COOPERATIVE $ 21,352 MALONY BARTUSH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,617 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,366 TOTAL REPORTED IN COLUMN C $ 16,983 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,617) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,946 EXPENSE TO THE COOPERATIVE $ 27,312

Disregarded entities

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

• PENTEX ENERGY SOLUTIONS LLC

  SOLAR SALES & INSTALLATIONS · TX · income $0 · assets $0

  Directly controlled by COOKE COUNTY ELECTRIC COOPERATIVE ASSOC