Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC SALES

  total $25,720,816 · related or exempt $25,720,816

• 3 · Investment income

  total $179,396 · excluded $179,396

• 6a · Gross rents

  real property $18,000

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $18,000

• 6d · Net rental income or loss

  total $18,000 · excluded $18,000

• 7a · Gross sales of assets other than inventory

  other assets $8,000

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

  other assets $1,272

• 7c · Gain or loss

  other assets $6,728

• 7d · Net gain or loss

  total $6,728 · excluded $6,728

• 10a · Gross sales of inventory

  $770,629

• 10b · Cost of goods sold

  $736,617

• 10c · Net income from sales of inventory

  total $34,012 · related or exempt $34,012

• 11a · Other revenue: CAPITAL CREDITS

  total $1,444,284 · related or exempt $1,444,284

• 11e · Other revenue, total

  $1,444,284

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,975,454

• 5 · Compensation of officers, directors and key employees

  total $597,862

• 7 · Other salaries and wages

  total $3,077,022

• 8 · Pension plan contributions

  total $763,358

• 9 · Other employee benefits

  total $569,810

• 10 · Payroll taxes

  total $265,767

• 20 · Interest

  total $1,545,345

• 22 · Depreciation, depletion and amortization

  total $4,191,359

• 24a · Other expenses: COST OF POWER

  total $13,668,886

• 24b · Other expenses: OPERATIONS

  total $1,770,773

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,508,477

• 24d · Other expenses: MAINTENANCE EXPENSE

  total $1,338,249

• 24e · All other expenses

  total -$3,871,349

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,406,155 · end of year $2,356,276

• 2 · Savings and temporary cash investments

  end of year $665,085

• 4 · Accounts receivable

  beginning of year $2,423,910 · end of year $2,537,057

• 7 · Other notes and loans receivable

  end of year $480,632

• 8 · Inventories for sale or use

  beginning of year $1,808,962 · end of year $2,737,246

• 9 · Prepaid expenses and deferred charges

  beginning of year $515,930 · end of year $534,520

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

  $105,353,842

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

  $42,170,596

• 10c · Land, buildings and equipment, net

  beginning of year $63,091,882 · end of year $63,183,246

• 12 · Investments: other securities

  beginning of year $379,141

• 13 · Investments: program-related

  beginning of year $17,474,074 · end of year $18,329,750

• 15 · Other assets

  beginning of year $50,961 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $3,235,252 · end of year $3,181,797

• 19 · Deferred revenue

  beginning of year $3,266,431 · end of year $200,000

• 21 · Escrow or custodial account liability

  beginning of year $1,849 · end of year $2,065

• 23 · Secured mortgages and notes payable

  beginning of year $52,540,300 · end of year $50,838,713

• 25 · Other liabilities

  beginning of year $50,945 · end of year $2,282,043

• 29 · Capital stock, trust principal or current funds

  beginning of year $33,056,238 · end of year $34,319,194

• 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 $0 · end of year $0

The filer's explanations (Part III)

PART II

INCLUDED IN COLUMN "C", DEFERRED COMPENSATION, IS THE ESTIMATED CURRENT YEAR INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THESE AMOUNTS DO NOT REPRESENT ANY CURRENT YEAR CONTRIBUTIONS TO THE PLAN, THEY ARE ESTIMATES OF THE INCREASE IN ACTUARIAL VALUE IN THE PLANS RECEIVED FROM NRECA. THE CURRENT YEAR EXPENSE AND THE INCREASE IN ACTUARIAL VALUE FOR EACH EMPLOYEE IS REFLECTED IN THE SCHEDULE O STATEMENT FOR FORM 990, PART VII, COLUMN F.