Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $54,329,582 · related or exempt $54,329,582

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $2,728,719 · related or exempt $2,728,719

• 2c · Program service revenue: PATRONAGE DIVIDENDS - 990-T

  total $582,081 · unrelated business $582,081

• 3 · Investment income

  total $1,212,043 · excluded $1,212,043

• 6a · Gross rents

  real property $726,062

• 6c · Rental income or loss

  real property $726,062

• 6d · Net rental income or loss

  total $726,062 · excluded $726,062

• 7a · Gross sales of assets other than inventory

  other assets $291,947

• 7c · Gain or loss

  other assets $291,947

• 7d · Net gain or loss

  total $291,947 · unrelated business $250,348 · excluded $41,599

• 10a · Gross sales of inventory

  $12,293,909

• 10b · Cost of goods sold

  $1,444,654

• 10c · Net income from sales of inventory

  total $10,849,255 · unrelated business $10,814,330 · excluded $34,925

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

  total $1,309,390 · excluded $1,309,390

• 11e · Other revenue, total

  $1,309,390

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $6,489,589

• 5 · Compensation of officers, directors and key employees

  total $971,582

• 7 · Other salaries and wages

  total $3,668,691

• 11b · Fees: legal

  total $565

• 11c · Fees: accounting

  total $8,975

• 20 · Interest

  total $4,997,199

• 22 · Depreciation, depletion and amortization

  total $8,412,050

• 24a · Other expenses: COST OF POWER

  total $29,658,590

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $8,009,210

• 24c · Other expenses: OTHER

  total $3,134,610

• 24d · Other expenses: GENERAL & ADMINISTRATIVE

  total $3,071,541

• 24e · All other expenses

  total $3,606,477

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $744,693 · end of year $1,564,834

• 2 · Savings and temporary cash investments

  end of year $12,794,991

• 4 · Accounts receivable

  beginning of year $4,835,069 · end of year $5,416,792

• 8 · Inventories for sale or use

  beginning of year $6,828,249 · end of year $8,072,030

• 9 · Prepaid expenses and deferred charges

  beginning of year $509,101 · end of year $867,511

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

  $258,869,379

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

  $63,648,776

• 10c · Land, buildings and equipment, net

  beginning of year $167,354,000 · end of year $195,220,603

• 12 · Investments: other securities

  beginning of year $35,792,383 · end of year $38,983,287

• 14 · Intangible assets

  beginning of year $319,488 · end of year $390,759

• 17 · Accounts payable and accrued expenses

  beginning of year $11,479,749 · end of year $10,446,013

• 23 · Secured mortgages and notes payable

  beginning of year $136,821,639 · end of year $179,264,438

• 25 · Other liabilities

  beginning of year $10,231,484 · end of year $9,804,640

• 29 · Capital stock, trust principal or current funds

  beginning of year $106,870 · end of year $107,950

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

  beginning of year $2,900,183 · end of year $1,540,671

• 31 · Retained earnings, endowment or other funds

  beginning of year $54,843,058 · end of year $62,147,095

The filer's explanations (Part III)

SCHEDULE J, PART III

EMPLOYEE NAME: JOHN LEE ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 61,252 EMPLOYER CONTRIBUTION TO 401(K) PLAN 20,192 TOTAL REPORTED IN COLUMN C 81,444 LESS: ACTUARIAL INCREASE 61,252 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,829 EXPENSE TO COOPERATIVE 55,021 EMPLOYEE NAME: BEN MCCOLLUM ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 78,435 EMPLOYER CONTRIBUTION TO 401(K) PLAN 16,941 TOTAL REPORTED IN COLUMN C 95,376 LESS: ACTUARIAL INCREASE 78,435 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,577 EXPENSE TO COOPERATIVE 45,518 EMPLOYEE NAME: LOGAN PLEASANT ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 21,681 EMPLOYER CONTRIBUTION TO 401(K) PLAN 16,941 TOTAL REPORTED IN COLUMN C 38,622 LESS: ACTUARIAL INCREASE 21,681 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,577 EXPENSE TO COOPERATIVE 45,518 EMPLOYEE NAME: WENDALL WELCH ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 23,121 EMPLOYER CONTRIBUTION TO 401(K) PLAN 15,283 TOTAL REPORTED IN COLUMN C 38,404 LESS: ACTUARIAL INCREASE 23,121 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,581 EXPENSE TO COOPERATIVE 39,864 EMPLOYEE NAME: JASON STEELEY ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 18,323 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,308 TOTAL REPORTED IN COLUMN C 27,631 LESS: ACTUARIAL INCREASE 18,323 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,835 EXPENSE TO COOPERATIVE 25,143 EMPLOYEE NAME: LEISA WALKER ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 138,352 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,638 TOTAL REPORTED IN COLUMN C 152,990 LESS: ACTUARIAL INCREASE 138,352 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,762 EXPENSE TO COOPERATIVE 37,400 EMPLOYEE NAME: JASON YOUNGBLOOD ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 9,757 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,381 TOTAL REPORTED IN COLUMN C 19,139 LESS: ACTUARIAL INCREASE 9,757 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,835 EXPENSE TO COOPERATIVE 25,216