Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $75,093,814 · related or exempt $75,093,814

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $3,277,083 · related or exempt $3,277,083

• 2c · Program service revenue: SERVICE FEES

  total $131,467 · related or exempt $131,467

• 3 · Investment income

  total $115,712 · excluded $115,712

• 5 · Royalties

  total $565 · excluded $565

• 7a · Gross sales of assets other than inventory

  other assets $28,000

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

  other assets $0

• 7c · Gain or loss

  other assets $28,000

• 7d · Net gain or loss

  total $28,000 · related or exempt $28,000

• 10a · Gross sales of inventory

  $179,360

• 10b · Cost of goods sold

  $171,604

• 10c · Net income from sales of inventory

  total $7,756 · related or exempt $7,756

• 11a · Other revenue: MISC. NONOPERATING INCOME

  total $882,040 · excluded $882,040

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $3,500 · excluded $3,500

• 11e · Other revenue, total

  $885,540

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $78,386

• 4 · Benefits paid to or for members

  total $6,617,895

• 5 · Compensation of officers, directors and key employees

  total $1,573,529

• 7 · Other salaries and wages

  total $2,626,404

• 8 · Pension plan contributions

  total $380,172

• 9 · Other employee benefits

  total $536,688

• 10 · Payroll taxes

  total $237,132

• 20 · Interest

  total $4,004,362

• 22 · Depreciation, depletion and amortization

  total $5,815,006

• 24a · Other expenses: PURCHASED POWER

  total $49,920,137

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $3,958,820

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,606,899

• 24d · Other expenses: OPERATING TAXES

  total $1,518,839

• 24e · All other expenses

  total $665,668

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $410,170 · end of year $213,175

• 2 · Savings and temporary cash investments

  beginning of year $1,000,000 · end of year $1,088,054

• 4 · Accounts receivable

  beginning of year $9,168,826 · end of year $7,166,991

• 8 · Inventories for sale or use

  end of year $161,281

• 9 · Prepaid expenses and deferred charges

  beginning of year $55,353 · end of year $68,241

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

  $168,949,250

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

  $14,691,202

• 10c · Land, buildings and equipment, net

  beginning of year $147,558,416 · end of year $154,258,048

• 13 · Investments: program-related

  beginning of year $17,952,606 · end of year $21,021,191

• 15 · Other assets

  beginning of year $1,615,150 · end of year $1,230,103

• 17 · Accounts payable and accrued expenses

  beginning of year $8,074,123 · end of year $11,955,702

• 23 · Secured mortgages and notes payable

  beginning of year $85,507,647 · end of year $83,756,178

• 25 · Other liabilities

  beginning of year $8,671,212 · end of year $9,160,369

• 29 · Capital stock, trust principal or current funds

  beginning of year $442,197 · end of year $457,895

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $3,275,630 · end of year $3,610,412

• 31 · Retained earnings, endowment or other funds

  beginning of year $71,789,712 · end of year $76,266,528

The filer's explanations (Part III)

PART I, LINE 1A

PURSUANT TO APPLICABLE TRAVEL POLICIES, THE COOPERATIVE WILL REIMBURSE EMPLOYEES FOR THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL BUSINESS OF THE COOPERATIVE. DURING THE YEAR, TWO INDIVIDUALS REPORTED ON FORM 990 PART VII (ANDREWS & ROARK) RECEIVED THESE BENEFITS. THE VALUE OF SUCH BENEFITS WERE ALSO INCLUDED IN THE REPORTABLE COMPENSATION OF EACH. ADDITIONALLY, THE COOPERATIVE WILL PAY ONE-HALF OF THE COST OF A GYM MEMBERSHIP PURSUANT TO A WELLNESS POLICY. DURING THE YEAR, ONE INDIVIDUAL REPORTED ON FORM 990 PART VII (CHLOUBER) RECEIVED THIS BENEFIT. SINCE THE COOPERATIVE CONSIDERS THE REIMBURSEMENT TO BE CONSISTENT TO A BONA FIDE BUSINESS PURPOSE, SUCH REIMBURSEMENTS WERE EXCLUDED FROM REPORTABLE COMPENSATION.