Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: OPERATING REVENUES

  total $31,654,173 · related or exempt $31,654,173

• 2b · Program service revenue: POLE RENTAL

  total $335,902 · excluded $335,902

• 3 · Investment income

  total $109,099 · excluded $109,099

• 11a · Other revenue: PATRONAGE CAPITAL

  total $597,807 · related or exempt $597,807

• 11b · Other revenue: NON OPERATING INCOME

  total $3,700 · related or exempt $3,700

• 11e · Other revenue, total

  $601,507

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,622,724

• 5 · Compensation of officers, directors and key employees

  total $533,304

• 11b · Fees: legal

  total $69,126

• 11c · Fees: accounting

  total $20,253

• 11g · Fees: other

  total $37,646

• 12 · Advertising and promotion

  total $195,696

• 17 · Travel

  total $82,583

• 20 · Interest

  total $1,159,650

• 22 · Depreciation, depletion and amortization

  total $3,363,218

• 24a · Other expenses: COST OF POWER

  total $17,943,252

• 24b · Other expenses: DISTRIBUTION MAINTENANCE

  total $2,568,255

• 24c · Other expenses: DISTRIBUTION OPERATIONS

  total $2,272,925

• 24d · Other expenses: ADMINISTRATIVE AND GENERA

  total $1,601,745

• 24e · All other expenses

  total $1,230,304

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,904,956 · end of year $2,156,606

• 4 · Accounts receivable

  beginning of year $1,233,430 · end of year $1,299,352

• 8 · Inventories for sale or use

  beginning of year $1,863,572 · end of year $2,115,127

• 9 · Prepaid expenses and deferred charges

  beginning of year $763,594 · end of year $816,144

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

  $115,893,462

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

  $59,431,471

• 10c · Land, buildings and equipment, net

  beginning of year $50,978,892 · end of year $56,461,991

• 15 · Other assets

  beginning of year $15,620,232 · end of year $15,790,882

• 17 · Accounts payable and accrued expenses

  beginning of year $2,446,556 · end of year $2,210,118

• 23 · Secured mortgages and notes payable

  beginning of year $23,045,724 · end of year $28,822,685

• 25 · Other liabilities

  beginning of year $3,111,920 · end of year $3,087,016

• 29 · Capital stock, trust principal or current funds

  beginning of year $217,422 · end of year $216,998

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

  beginning of year $4,966,206 · end of year $5,553,675

• 31 · Retained earnings, endowment or other funds

  beginning of year $38,576,848 · end of year $38,749,610

The filer's explanations (Part III)

SCHEDULE J, PART III

1(A) -TCEPA REIMBURSES THE REASONABLE COST FOR TRAVEL FOR COMPANIONS OF MEMBERS OF ITS BOARD OF DIRECTORS TO STATE, REGIONAL, AND NATIONAL MEETINGS FOR THE CONVENIENCE OF ITS DIRECTORS. 3- TCEPA'S BOARD OF DIRECTORS ESTABLISHES THE COMPENSATION OF TWIN COUNTY'S GENERAL MANAGER CONSIDERING THE COMPENSATION PAID BY OTHER ELECTRIC POWER ASSOCIATIONS TO THEIR RESPECTIVE GENERAL MANAGERS.