Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $18,439,881 · related or exempt $18,439,881

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $521,740 · related or exempt $521,740

• 2c · Program service revenue: SERVICE FEES

  total $113,056 · related or exempt $113,056

• 3 · Investment income

  total $42,812 · excluded $42,812

• 6b · Less rental expenses

  personal property $7,143

• 6c · Rental income or loss

  personal property -$7,143

• 6d · Net rental income or loss

  total -$7,143 · unrelated business -$7,143

• 10a · Gross sales of inventory

  $134,101

• 10b · Cost of goods sold

  $125,699

• 10c · Net income from sales of inventory

  total $8,402 · related or exempt $7,799 · unrelated business $603

• 11a · Other revenue: TWN INTERNET COMMISSION

  total $27,918 · unrelated business $27,918

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $17,748 · excluded $17,748

• 11e · Other revenue, total

  $45,666

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $6,703

• 4 · Benefits paid to or for members

  total $1,244,090

• 5 · Compensation of officers, directors and key employees

  total $363,831

• 7 · Other salaries and wages

  total $1,396,166

• 8 · Pension plan contributions

  total $184,967

• 9 · Other employee benefits

  total $398,860

• 10 · Payroll taxes

  total $116,530

• 20 · Interest

  total $335,376

• 22 · Depreciation, depletion and amortization

  total $1,358,704

• 24a · Other expenses: PURCHASED POWER

  total $12,622,575

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $586,844

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $487,187

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

  total $3,995

• 24e · All other expenses

  total $58,586

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $971,966 · end of year $901,307

• 2 · Savings and temporary cash investments

  end of year $294,832

• 4 · Accounts receivable

  beginning of year $1,015,429 · end of year $1,375,705

• 8 · Inventories for sale or use

  beginning of year $5,243 · end of year $3,993

• 9 · Prepaid expenses and deferred charges

  beginning of year $179,720 · end of year $116,900

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

  $45,423,060

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

  $25,183,691

• 10c · Land, buildings and equipment, net

  beginning of year $19,439,941 · end of year $20,239,369

• 13 · Investments: program-related

  beginning of year $12,090,872 · end of year $12,271,994

• 15 · Other assets

  beginning of year $127,153 · end of year $128,793

• 17 · Accounts payable and accrued expenses

  beginning of year $1,169,044 · end of year $1,605,374

• 21 · Escrow or custodial account liability

  beginning of year $75,878 · end of year $67,157

• 23 · Secured mortgages and notes payable

  beginning of year $7,863,847 · end of year $8,055,907

• 25 · Other liabilities

  beginning of year $880,603 · end of year $858,067

• 29 · Capital stock, trust principal or current funds

  beginning of year $46,210 · end of year $47,130

• 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 $23,794,742 · end of year $24,699,258

The filer's explanations (Part III)

PART I, LINE 1A

PURSUANT TO TRAVEL POLICIES, THE COOPERATIVE WILL PAY FOR AIRLINE FLIGHTS AND MEALS FOR ANY SPOUSE ACCOMPANYING AN EMPLOYEE OR DIRECTOR ON A BUSINESS TRIP. SINCE THE COOPERATIVE CONSIDERS THE REIMBURSEMENT TO BE CONSISTENT TO A BONA FIDE BUSINESS PURPOSE, SUCH REIMBURSEMENTS WERE TREATED AS EXPENSES EXCLUDED FROM THE REPORTABLE COMPENSATION OF EACH.

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 CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. SYNDA SMITH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $108,452 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,864 TOTAL REPORTED IN COLUMN C $112,316 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (108,452) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,439 EXPENSE TO THE COOPERATIVE $ 29,303