Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $99,371,964 · related or exempt $99,371,964

• 2b · Program service revenue: LEASE INCOME FROM LCRA

  total $5,041,103 · related or exempt $5,041,103

• 2c · Program service revenue: PATRONAGE DIVIDENDS

  total $1,606,964 · related or exempt $1,606,964

• 2d · Program service revenue: SERVICE FEES

  total $618,424 · related or exempt $618,424

• 2e · Program service revenue: OTHER PROGRAM REVENUE

  total $96,247 · related or exempt $96,247

• 3 · Investment income

  total $80,357 · excluded $80,357

• 7a · Gross sales of assets other than inventory

  other assets $115,705

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

  other assets $42,244

• 7c · Gain or loss

  other assets $73,461

• 7d · Net gain or loss

  total $73,461 · excluded $73,461

• 10a · Gross sales of inventory

  $447,277

• 10b · Cost of goods sold

  $433,430

• 10c · Net income from sales of inventory

  total $13,847 · related or exempt $13,510 · unrelated business $337

• 11a · Other revenue: OTHER NON-OPERATING INCOME

  total $66,389 · related or exempt $66,389

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $50,068 · excluded $50,068

• 11c · Other revenue: DISPATCHING REVENUE

  total $4,500 · excluded $4,500

• 11e · Other revenue, total

  $120,957

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $59,581

• 4 · Benefits paid to or for members

  total $7,694,076

• 5 · Compensation of officers, directors and key employees

  total $1,214,391

• 7 · Other salaries and wages

  total $4,461,009

• 8 · Pension plan contributions

  total $907,632

• 9 · Other employee benefits

  total $1,067,902

• 10 · Payroll taxes

  total $338,748

• 20 · Interest

  total $6,273,532

• 22 · Depreciation, depletion and amortization

  total $8,968,540

• 24a · Other expenses: PURCHASED POWER

  total $67,796,723

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $5,450,961

• 24c · Other expenses: CONSUMER EXPENSE

  total $1,278,920

• 24d · Other expenses: ADMIN & GENERAL EXPENSE

  total $720,385

• 24e · All other expenses

  total $750,464

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $906,403 · end of year $721,004

• 4 · Accounts receivable

  beginning of year $3,041,917 · end of year $3,946,801

• 7 · Other notes and loans receivable

  beginning of year $91,829 · end of year $66,802

• 8 · Inventories for sale or use

  beginning of year $4,874,562 · end of year $5,037,568

• 9 · Prepaid expenses and deferred charges

  beginning of year $75,236,953 · end of year $70,283,509

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

  $293,638,089

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

  $89,949,562

• 10c · Land, buildings and equipment, net

  beginning of year $199,583,306 · end of year $203,688,527

• 13 · Investments: program-related

  beginning of year $5,382,142 · end of year $6,593,749

• 15 · Other assets

  beginning of year $1,380,107 · end of year $1,420,484

• 17 · Accounts payable and accrued expenses

  beginning of year $7,672,786 · end of year $9,092,587

• 19 · Deferred revenue

  beginning of year $73,495

• 21 · Escrow or custodial account liability

  beginning of year $82,519 · end of year $59,134

• 23 · Secured mortgages and notes payable

  beginning of year $182,723,946 · end of year $175,449,908

• 25 · Other liabilities

  beginning of year $7,964,761 · end of year $7,996,854

• 29 · Capital stock, trust principal or current funds

  beginning of year $52,520 · end of year $50,390

• 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 $91,927,192 · end of year $99,109,571

The filer's explanations (Part III)

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. MICHAEL ABLES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 132,047 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 132,047 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (132,047) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 46,087 EXPENSE TO THE COOPERATIVE $ 46,087 JAMES JOUETT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 135,054 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,245 TOTAL REPORTED IN COLUMN C $ 145,299 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (135,054) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,106 EXPENSE TO THE COOPERATIVE $ 57,351 ROBERT HROMADKA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 63,118 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,103 TOTAL REPORTED IN COLUMN C $ 69,221 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (63,118) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,478 EXPENSE TO THE COOPERATIVE $ 34,581 WILLIAM PESCHEL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 72,390 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,940 TOTAL REPORTED IN COLUMN C $ 79,330 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (72,390) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,231 EXPENSE TO THE COOPERATIVE $ 39,171 SHAWN BARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 47,048 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,340 TOTAL REPORTED IN COLUMN C $ 55,388 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (47,048) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,687 EXPENSE TO THE COOPERATIVE $ 47,027 JOHN SPIESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 69,179 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,638 TOTAL REPORTED IN COLUMN C $ 76,817 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (69,179) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,397 EXPENSE TO THE COOPERATIVE $ 41,035 JAMES PHILLIPS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 38,841 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,011 TOTAL REPORTED IN COLUMN C $ 43,852 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (38,841) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,338 EXPENSE TO THE COOPERATIVE $ 28,349 JARED JANICK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 26,504 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,857 TOTAL REPORTED IN COLUMN C $ 34,361 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (26,504) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,480 EXPENSE TO THE COOPERATIVE $ 32,337