Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $55,148,043 · related or exempt $55,148,043

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $1,907,984 · related or exempt $1,907,984

• 2c · Program service revenue: SERVICE FEES

  total $510,731 · related or exempt $510,731

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $22,287 · related or exempt $22,287

• 3 · Investment income

  total $59,106 · excluded $59,106

• 6a · Gross rents

  real property $6,523

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $6,523

• 6d · Net rental income or loss

  total $6,523 · excluded $6,523

• 7a · Gross sales of assets other than inventory

  securities $3,013,974 · other assets $78,100

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

  securities $1,447,929 · other assets $18,070

• 7c · Gain or loss

  securities $1,566,045 · other assets $60,030

• 7d · Net gain or loss

  total $1,626,075 · related or exempt $60,030 · excluded $1,566,045

• 10a · Gross sales of inventory

  $20,651

• 10b · Cost of goods sold

  $2,244

• 10c · Net income from sales of inventory

  total $18,407 · related or exempt $18,407

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $500 · excluded $500

• 11e · Other revenue, total

  $500

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $8,542

• 4 · Benefits paid to or for members

  total $7,367,148

• 5 · Compensation of officers, directors and key employees

  total $484,706

• 7 · Other salaries and wages

  total $3,807,029

• 8 · Pension plan contributions

  total $1,095,187

• 9 · Other employee benefits

  total $730,674

• 10 · Payroll taxes

  total $307,341

• 20 · Interest

  total $1,920,832

• 22 · Depreciation, depletion and amortization

  total $4,737,674

• 24a · Other expenses: PURCHASED POWER

  total $34,478,865

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $2,655,723

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,002,937

• 24d · Other expenses: CONSUMER EXPENSE

  total $496,902

• 24e · All other expenses

  total $206,096

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $699,736 · end of year $327,887

• 4 · Accounts receivable

  beginning of year $3,565,893 · end of year $4,494,962

• 7 · Other notes and loans receivable

  beginning of year $261,320 · end of year $299,474

• 8 · Inventories for sale or use

  beginning of year $3,986,296 · end of year $2,512,710

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,653,815 · end of year $38,517

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

  $165,024,924

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

  $55,423,017

• 10c · Land, buildings and equipment, net

  beginning of year $103,073,095 · end of year $109,601,907

• 11 · Investments: publicly traded securities

  beginning of year $6,337,864 · end of year $3,822,360

• 12 · Investments: other securities

  beginning of year $28,861 · end of year $30,159

• 13 · Investments: program-related

  beginning of year $25,598,063 · end of year $27,176,305

• 15 · Other assets

  beginning of year $2,821,393 · end of year $2,929,901

• 17 · Accounts payable and accrued expenses

  beginning of year $5,140,573 · end of year $4,780,621

• 23 · Secured mortgages and notes payable

  beginning of year $49,865,056 · end of year $49,578,757

• 25 · Other liabilities

  beginning of year $6,778,822 · end of year $6,561,634

• 29 · Capital stock, trust principal or current funds

  beginning of year $79,065 · end of year $80,050

• 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 $86,162,820 · end of year $90,233,120

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. 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 CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. KOONEY DUNCAN: TOTAL REPORTED IN COLUMN C $ 55,035 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (55,035) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 95,905 EXPENSE TO THE COOPERATIVE $ 95,905 JEFFREY RECTOR: TOTAL REPORTED IN COLUMN C $ 34,051 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (34,051) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,068 EXPENSE TO THE COOPERATIVE $ 35,068 JOHNNY COURTWRIGHT: TOTAL REPORTED IN COLUMN C $ 31,923 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,923) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,402 EXPENSE TO THE COOPERATIVE $ 33,402 KYLE BECK: TOTAL REPORTED IN COLUMN C $ 21,939 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,939) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,068 EXPENSE TO THE COOPERATIVE $ 35,068 ISAAC BILLINGSLEY: TOTAL REPORTED IN COLUMN C $ 18,984 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (18,984) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,405 EXPENSE TO THE COOPERATIVE $ 34,405