Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Sales of Electricity

  total $237,769,500 · related or exempt $237,769,500

• 2b · Program service revenue: Patronage Capital

  total $4,263,675 · related or exempt $4,263,675

• 3 · Investment income

  total $248,856 · excluded $248,856

• 6a · Gross rents

  personal property $14,206,733

• 6b · Less rental expenses

  personal property $0

• 6c · Rental income or loss

  personal property $14,206,733

• 6d · Net rental income or loss

  total $14,206,733 · unrelated business $9,156,170 · excluded $5,050,563

• 7a · Gross sales of assets other than inventory

  other assets $18,769

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

  other assets $0

• 7c · Gain or loss

  other assets $18,769

• 7d · Net gain or loss

  total $18,769 · excluded $18,769

• 11a · Other revenue: Loss on investment in

  total -$1,615,702 · excluded -$1,615,702

• 11e · Other revenue, total

  -$1,615,702

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $8,703,990

• 5 · Compensation of officers, directors and key employees

  total $2,780,812

• 20 · Interest

  total $9,890,980

• 22 · Depreciation, depletion and amortization

  total $18,415,967

• 24a · Other expenses: Cost of Power

  total $158,308,184

• 24b · Other expenses: Dist Exp - Maintenance

  total $24,617,166

• 24c · Other expenses: Dist Exp - Operations

  total $10,584,232

• 24d · Other expenses: Admin & Gen Expenses

  total $9,049,049

• 24e · All other expenses

  total $12,541,451

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,052,750 · end of year $4,159,159

• 4 · Accounts receivable

  beginning of year $34,973,551 · end of year $26,300,947

• 8 · Inventories for sale or use

  beginning of year $5,856,566 · end of year $5,957,551

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,347,100 · end of year $2,869,305

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

  $586,630,301

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

  $150,069,483

• 10c · Land, buildings and equipment, net

  beginning of year $422,732,023 · end of year $436,560,818

• 13 · Investments: program-related

  beginning of year $80,772,530 · end of year $81,531,772

• 15 · Other assets

  beginning of year $7,353,387 · end of year $6,887,692

• 17 · Accounts payable and accrued expenses

  beginning of year $154,348,037 · end of year $151,030,430

• 23 · Secured mortgages and notes payable

  beginning of year $121,495,666 · end of year $132,487,919

• 25 · Other liabilities

  beginning of year $53,716,391 · end of year $45,418,130

• 29 · Capital stock, trust principal or current funds

  beginning of year $509,140 · end of year $508,245

• 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 $229,018,673 · end of year $234,822,520

The filer's explanations (Part III)

Part I, Line 4b

Employees listed on Schedule J participated in a 457b plan but didn't receive payments in 2024.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• CoastConnect LLC

  C · Internet · MS · 100% owned · share of income $19,637,127 · share of assets $128,310,616 · controlled entity

  Directly controlled by Coast Electric Power Association