Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $71,308,841 · related or exempt $71,308,841

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $2,810,414 · related or exempt $2,810,414

• 2c · Program service revenue: TRANSMISSION/WHEELING

  total $208,402 · related or exempt $208,402

• 2d · Program service revenue: SERVICE FEES

  total $200,756 · related or exempt $200,756

• 3 · Investment income

  total $282,310 · excluded $282,310

• 6a · Gross rents

  real property $4,747

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $4,747

• 6d · Net rental income or loss

  total $4,747 · related or exempt $4,747

• 7a · Gross sales of assets other than inventory

  other assets $48,080

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

  other assets $1,145

• 7c · Gain or loss

  other assets $46,935

• 7d · Net gain or loss

  total $46,935 · related or exempt $46,935

• 10a · Gross sales of inventory

  $6,151

• 10b · Cost of goods sold

  $15,448

• 10c · Net income from sales of inventory

  total -$9,297 · related or exempt -$9,297

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $74,716 · excluded $74,716

• 11e · Other revenue, total

  $74,716

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $62,624

• 2 · Grants to domestic individuals

  total $10,000

• 4 · Benefits paid to or for members

  total $6,029,940

• 5 · Compensation of officers, directors and key employees

  total $1,969,961

• 7 · Other salaries and wages

  total $3,577,890

• 8 · Pension plan contributions

  total $763,871

• 9 · Other employee benefits

  total $928,046

• 10 · Payroll taxes

  total $302,530

• 20 · Interest

  total $3,565,511

• 22 · Depreciation, depletion and amortization

  total $5,911,876

• 24a · Other expenses: PURCHASED POWER

  total $45,657,760

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $2,819,986

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,700,243

• 24d · Other expenses: TRANSMISSION EXPENSE

  total $539,848

• 24e · All other expenses

  total $778,358

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,534,386 · end of year $2,002,059

• 2 · Savings and temporary cash investments

  beginning of year $2,265,137 · end of year $466,873

• 4 · Accounts receivable

  beginning of year $7,666,372 · end of year $6,511,981

• 7 · Other notes and loans receivable

  beginning of year $4,156 · end of year $722

• 8 · Inventories for sale or use

  beginning of year $4,751,952 · end of year $5,588,613

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,305,831 · end of year $1,140,019

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

  $206,747,274

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

  $72,830,091

• 10c · Land, buildings and equipment, net

  beginning of year $128,978,105 · end of year $133,917,183

• 13 · Investments: program-related

  beginning of year $40,770,531 · end of year $42,665,228

• 15 · Other assets

  beginning of year $19,823 · end of year $20,625

• 17 · Accounts payable and accrued expenses

  beginning of year $6,267,467 · end of year $6,057,856

• 23 · Secured mortgages and notes payable

  beginning of year $97,405,993 · end of year $94,624,138

• 25 · Other liabilities

  beginning of year $4,736,206 · end of year $4,541,539

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 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 $81,886,627 · end of year $87,089,770

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 CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. ANTHONY S. LAWS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 92,742 EMPLOYER CONTRIBUTION TO 401(K) PLAN 24,150 TOTAL REPORTED IN COLUMN C $ 116,892 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (92,742) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 100,223 EXPENSE TO THE COOPERATIVE $ 124,373 DENZIL MCGILL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 58,182 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,149 TOTAL REPORTED IN COLUMN C $ 71,331 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (58,182) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 53,761 EXPENSE TO THE COOPERATIVE $ 66,910 ANGELA UNRUH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,231 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,207 TOTAL REPORTED IN COLUMN C $ 50,438 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (36,231) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 58,155 EXPENSE TO THE COOPERATIVE $ 72,362 RYAN MILLER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 82,528 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,997 TOTAL REPORTED IN COLUMN C $ 93,522 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (82,528) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 45,002 EXPENSE TO THE COOPERATIVE $ 55,996 TED MCATEE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 48,497 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,703 TOTAL REPORTED IN COLUMN C $ 55,200 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (48,497) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,195 EXPENSE TO THE COOPERATIVE $ 30,898 AMY GRASSER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,305 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,729 TOTAL REPORTED IN COLUMN C $ 33,034 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,305) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,151 EXPENSE TO THE COOPERATIVE $ 51,880 ROB HENRY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,298 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,649 TOTAL REPORTED IN COLUMN C $ 38,947 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (29,298) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,499 EXPENSE TO THE COOPERATIVE $ 51,148 PATRICK DEAVER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,270 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,374 TOTAL REPORTED IN COLUMN C $ 61,644 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,270) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,616 EXPENSE TO THE COOPERATIVE $ 33,990 JESUS RUIZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,826 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,093 TOTAL REPORTED IN COLUMN C $ 21,919 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,826) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,195 EXPENSE TO THE COOPERATIVE $ 31,288 ROSS ACKERMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,031 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,374 TOTAL REPORTED IN COLUMN C $ 23,405 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,031) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,616 EXPENSE TO THE COOPERATIVE $ 33,990