Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Energy Sales

  total $34,547,839 · related or exempt $34,547,839

• 2b · Program service revenue: Patronage Capital Credits

  total $1,827,121 · related or exempt $1,827,121

• 2c · Program service revenue: Other Electric Revenue

  total $108,942 · related or exempt $108,942

• 3 · Investment income

  total $201,727 · related or exempt $201,727

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $2,888,917 · program services $2,888,917

• 5 · Compensation of officers, directors and key employees

  total $533,980 · program services $533,980

• 20 · Interest

  total $58,094 · program services $58,094

• 22 · Depreciation, depletion and amortization

  total $2,099,263 · program services $2,099,263

• 24a · Other expenses: Cost of Energy

  total $20,881,238 · program services $20,881,238

• 24b · Other expenses: Distribution Expense-Ma

  total $3,880,937 · program services $3,880,937

• 24c · Other expenses: Administrative and Gene

  total $1,847,825 · program services $1,847,825

• 24d · Other expenses: Distribution Expense-Op

  total $719,108 · program services $719,108

• 24e · All other expenses

  total $1,044,630 · program services $1,044,630

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,153,176 · end of year $524,672

• 2 · Savings and temporary cash investments

  beginning of year $1,944,819 · end of year $1,486,045

• 4 · Accounts receivable

  beginning of year $5,258,755 · end of year $3,936,834

• 8 · Inventories for sale or use

  beginning of year $2,149,656 · end of year $1,969,432

• 9 · Prepaid expenses and deferred charges

  beginning of year $104,046 · end of year $63,434

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

  $64,573,868

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

  $27,499,651

• 10c · Land, buildings and equipment, net

  beginning of year $32,075,071 · end of year $37,074,217

• 13 · Investments: program-related

  beginning of year $18,673,820 · end of year $19,944,623

• 17 · Accounts payable and accrued expenses

  beginning of year $2,837,849 · end of year $2,680,556

• 23 · Secured mortgages and notes payable

  beginning of year $1,586,562 · end of year $2,630,025

• 25 · Other liabilities

  beginning of year $2,939,096 · end of year $2,958,313

• 29 · Capital stock, trust principal or current funds

  beginning of year $212,855 · end of year $215,745

• 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 $53,782,981 · end of year $56,514,618

The filer's explanations (Part III)

Part I, Line 3

Compensation of the General Manager is done by comparing the salaries of like-sized Electric Cooperatives in similar financial and physical condition, neighboring investor owned utilities and other comparative data. The Board of Directors approve the compensation package annually.