Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $21,577,527 · related or exempt $21,577,527

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $1,100,410 · related or exempt $1,100,410

• 2c · Program service revenue: SERVICE FEES

  total $38,367 · related or exempt $38,367

• 3 · Investment income

  total $188,254 · excluded $188,254

• 6a · Gross rents

  real property $12,000

• 6b · Less rental expenses

  real property $4,746

• 6c · Rental income or loss

  real property $7,254

• 6d · Net rental income or loss

  total $7,254 · excluded $7,254

• 7a · Gross sales of assets other than inventory

  other assets $24,404

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

  other assets $0

• 7c · Gain or loss

  other assets $24,404

• 7d · Net gain or loss

  total $24,404 · related or exempt $24,404

• 11a · Other revenue: INTERNET MARKETING

  total $18,099 · unrelated business $18,099

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $6,228 · excluded $6,228

• 11e · Other revenue, total

  $24,327

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $24,524

• 4 · Benefits paid to or for members

  total $1,525,008

• 5 · Compensation of officers, directors and key employees

  total $985,046

• 7 · Other salaries and wages

  total $2,035,457

• 8 · Pension plan contributions

  total $569,806

• 9 · Other employee benefits

  total $268,753

• 10 · Payroll taxes

  total $163,101

• 20 · Interest

  total $1,580,763

• 22 · Depreciation, depletion and amortization

  total $1,824,633

• 24a · Other expenses: PURCHASED POWER

  total $11,748,467

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $1,747,778

• 24c · Other expenses: ADMINISTRATIVE & GENERA

  total $219,202

• 24d · Other expenses: UNRELATED BUS. INC. TAX

  total $9,050

• 24e · All other expenses

  total $170,368

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $377,787 · end of year $136,367

• 2 · Savings and temporary cash investments

  beginning of year $1,685,000 · end of year $2,500,000

• 4 · Accounts receivable

  beginning of year $921,022 · end of year $751,134

• 7 · Other notes and loans receivable

  beginning of year $864,499 · end of year $817,404

• 8 · Inventories for sale or use

  beginning of year $149,850 · end of year $169,306

• 9 · Prepaid expenses and deferred charges

  beginning of year $906,200 · end of year $796,748

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

  $65,182,149

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

  $17,483,456

• 10c · Land, buildings and equipment, net

  beginning of year $45,500,133 · end of year $47,698,693

• 13 · Investments: program-related

  beginning of year $19,701,997 · end of year $20,185,877

• 15 · Other assets

  beginning of year $34,175 · end of year $50,830

• 17 · Accounts payable and accrued expenses

  beginning of year $1,942,176 · end of year $1,979,359

• 23 · Secured mortgages and notes payable

  beginning of year $32,428,956 · end of year $34,096,176

• 25 · Other liabilities

  beginning of year $1,620,851 · end of year $1,798,462

• 29 · Capital stock, trust principal or current funds

  beginning of year $10,850 · end of year $10,825

• 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 $34,137,830 · end of year $35,221,537

The filer's explanations (Part III)

PART I, LINE 1A

TRAVEL FOR COMPANIONS - PURSUANT TO APPLICABLE TRAVEL POLICIES, THE COOPERATIVE WILL REIMBURSE DIRECTORS FOR THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER FOR ATTENDING ONE MEETING PER CALENDAR YEAR. NO INDIVIDUALS REPORTED ON FORM 990, PART VII RECEIVED THIS BENEFIT DURING THE YEAR.

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 CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. RANDY WHITE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $127,241 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,175 TOTAL REPORTED IN COLUMN C $132,416 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (127,241) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 80,114 EXPENSE TO THE COOPERATIVE $ 85,289 RICKY BOND: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 45,889 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,724 TOTAL REPORTED IN COLUMN C $ 49,613 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (45,889) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 56,809 EXPENSE TO THE COOPERATIVE $ 60,533 MARK LEMONS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,890 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,466 TOTAL REPORTED IN COLUMN C $ 24,356 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,890) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 52,368 EXPENSE TO THE COOPERATIVE $ 55,834 RICARDO OROZCO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 33,560 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,675 TOTAL REPORTED IN COLUMN C $ 36,235 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (33,560) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 40,809 EXPENSE TO THE COOPERATIVE $ 43,484 CARLY WARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,841 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,276 TOTAL REPORTED IN COLUMN C $ 11,117 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,841) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 49,497 EXPENSE TO THE COOPERATIVE $ 52,773

Related corporations and trusts

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

• G & L UTILITY SERVICES INC

  C · NATURAL GAS DISTRIBUTION · TX · 100% owned · controlled entity

  Directly controlled by GREENBELT ELECTRIC COOPERATIVE INC