Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $20,355,006 · related or exempt $20,355,006

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $367,618 · related or exempt $367,618

• 2c · Program service revenue: SERVICE FEES

  total $51,253 · related or exempt $51,253

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $58 · related or exempt $58

• 3 · Investment income

  total $130,844 · excluded $130,844

• 6a · Gross rents

  personal property $3,130

• 6b · Less rental expenses

  personal property $0

• 6c · Rental income or loss

  personal property $3,130

• 6d · Net rental income or loss

  total $3,130 · excluded $3,130

• 10a · Gross sales of inventory

  $14,541

• 10b · Cost of goods sold

  $15,497

• 10c · Net income from sales of inventory

  total -$956 · related or exempt -$631 · unrelated business -$325

• 11a · Other revenue: JOINT POLE RENTAL

  total $15,152 · excluded $15,152

• 11b · Other revenue: POWER SUPPLY REVENUE

  total $1,738 · related or exempt $1,738

• 11e · Other revenue, total

  $16,890

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $4,360

• 4 · Benefits paid to or for members

  total $287,206

• 5 · Compensation of officers, directors and key employees

  total $600,708

• 7 · Other salaries and wages

  total $1,600,937

• 8 · Pension plan contributions

  total $318,147

• 9 · Other employee benefits

  total $277,139

• 10 · Payroll taxes

  total $134,145

• 20 · Interest

  total $992,149

• 22 · Depreciation, depletion and amortization

  total $2,075,840

• 24a · Other expenses: PURCHASED POWER

  total $12,462,054

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $1,269,543

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $579,322

• 24d · Other expenses: CONSUMER EXPENSE

  total $233,879

• 24e · All other expenses

  total $70,613

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,128,940 · end of year $3,111,289

• 2 · Savings and temporary cash investments

  beginning of year $2,648,144 · end of year $935,847

• 4 · Accounts receivable

  beginning of year $2,080,595 · end of year $2,128,467

• 7 · Other notes and loans receivable

  beginning of year $469,209 · end of year $420,867

• 8 · Inventories for sale or use

  beginning of year $1,014,857 · end of year $1,102,297

• 9 · Prepaid expenses and deferred charges

  beginning of year $747,886 · end of year $638,725

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

  $72,971,977

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

  $28,421,841

• 10c · Land, buildings and equipment, net

  beginning of year $44,358,069 · end of year $44,550,136

• 11 · Investments: publicly traded securities

  beginning of year $2,529,265 · end of year $2,333,289

• 13 · Investments: program-related

  beginning of year $5,529,273 · end of year $5,872,712

• 15 · Other assets

  beginning of year $3,005,515 · end of year $2,769,318

• 17 · Accounts payable and accrued expenses

  beginning of year $1,741,928 · end of year $2,160,565

• 23 · Secured mortgages and notes payable

  beginning of year $38,808,098 · end of year $37,328,449

• 25 · Other liabilities

  beginning of year $3,475,201 · end of year $3,723,767

• 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 $21,486,526 · end of year $20,650,166

The filer's explanations (Part III)

PART I, LINE 1A

THE COOPERATIVE WILL REIMBURSE DIRECTORS AND EMPLOYEES FOR THE COST OF HIS/HER GYM FEES. ONE INDIVIDUAL REPORTED ON FORM 990 PART VII, (PRESTON ELKINS), 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, 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. ERIC SEGOVIA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,826 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,750 TOTAL REPORTED IN COLUMN C $ 24,576 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,826) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,318 EXPENSE TO THE COOPERATIVE $ 32,068 ANTONIO SANCHEZ, JR.: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 62,807 EMPLOYER CONTRIBUTION TO 401(K) PLAN 883 TOTAL REPORTED IN COLUMN C $ 63,690 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (62,807) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 16,537 EXPENSE TO THE COOPERATIVE $ 17,420

Related corporations and trusts

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

• ESTACADO ENERGY SERVICES INC

  C · ELECTRICIAN SERVICES · NM · 100% owned · share of income $1 · share of assets $7,363 · controlled entity

  Directly controlled by ROOSEVELT COUNTY ELECTRIC COOPERATIVE INC