Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: CAPITAL CREDITS

  total $80,546 · related or exempt $75,974 · unrelated business $4,572

• 2b · Program service revenue: ELECTRIC SERVICE REVENUE

  total $8,599,715 · related or exempt $8,599,715

• 2c · Program service revenue: FIBER OPTIC BROADBAND

  total $5,296,771 · related or exempt $3,516,308 · unrelated business $1,780,463

• 2d · Program service revenue: NYS FTTH GRANT

  total $437,772 · related or exempt $437,772

• 2e · Program service revenue: POLE ATTACHMENTS

  total $108,431 · related or exempt $108,431

• 2f · All other program service revenue

  total $78,189 · related or exempt $69,074 · unrelated business $9,115

• 3 · Investment income

  total $128,303 · unrelated business $39,251 · excluded $89,052

• 4 · Income from investment of tax-exempt bond proceeds

  total $0

• 5 · Royalties

  total $0

• 6d · Net rental income or loss

  total $0

• 7d · Net gain or loss

  total $0

• 8c · Net income from fundraising events

  total $0

• 9c · Net income from gaming

  total $0

• 10c · Net income from sales of inventory

  total $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $0

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $2,008,238

• 5 · Compensation of officers, directors and key employees

  total $501,522

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $1,141,336

• 8 · Pension plan contributions

  total $0

• 9 · Other employee benefits

  total $671,111

• 10 · Payroll taxes

  total $155,459

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $0

• 11c · Fees: accounting

  total $0

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $0

• 11g · Fees: other

  total $0

• 12 · Advertising and promotion

  total $0

• 13 · Office expenses

  total $0

• 14 · Information technology

  total $0

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $0

• 17 · Travel

  total $0

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $0

• 20 · Interest

  total $1,010,440

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $2,654,126

• 23 · Insurance

  total $0

• 24a · Other expenses: ACCESS COST

  total $3,164,107

• 24b · Other expenses: DISTRIBUTION OPERATIONS

  total $1,131,517

• 24c · Other expenses: ADMIN & GENERAL

  total $684,542

• 24d · Other expenses: DISTRIBUTION MAINTENANCE

  total $372,327

• 24e · All other expenses

  total $778,078

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $464,130 · end of year $452,215

• 2 · Savings and temporary cash investments

  beginning of year $3,881,346 · end of year $5,665,553

• 3 · Pledges and grants receivable

  beginning of year $258,588 · end of year $328,882

• 4 · Accounts receivable

  beginning of year $1,218,344 · end of year $1,249,208

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  end of year $0

• 8 · Inventories for sale or use

  beginning of year $1,160,041 · end of year $1,381,750

• 9 · Prepaid expenses and deferred charges

  beginning of year $452,962 · end of year $438,364

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

  $68,006,390

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

  $26,231,990

• 10c · Land, buildings and equipment, net

  beginning of year $42,985,490 · end of year $41,774,400

• 11 · Investments: publicly traded securities

  end of year $0

• 12 · Investments: other securities

  end of year $0

• 13 · Investments: program-related

  beginning of year $1,311,159 · end of year $1,307,173

• 14 · Intangible assets

  beginning of year $122,552 · end of year $122,552

• 15 · Other assets

  beginning of year $3,320,526 · end of year $3,148,294

• 17 · Accounts payable and accrued expenses

  beginning of year $1,311,719 · end of year $697,945

• 19 · Deferred revenue

  beginning of year $349,141 · end of year $356,975

• 23 · Secured mortgages and notes payable

  beginning of year $22,817,716 · end of year $21,988,784

• 25 · Other liabilities

  beginning of year $13,245,787 · end of year $13,178,499

• 31 · Retained earnings, endowment or other funds

  beginning of year $17,450,775 · end of year $19,646,188

The filer's explanations (Part III)

Part III, Additional Information

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. NAME: CODY ALLEN $ 15,960EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $ 15,960LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (15,960)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,535EXPENSE TO THE COOPERATIVE $ 30,535NAME: TIMOTHY JOHNSON $ 40,007EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $ 40,007LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (40,007)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,780EXPENSE TO THE COOPERATIVE $ 29,780NAME: KEVIN ROTTINGENACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 70,487EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $ 70,487 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (70,487)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,487EXPENSE TO THE COOPERATIVE $ 41,487NAME: JUSTIN MARCHACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 35,031EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $ 35,031LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (35,031)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,168EXPENSE TO THE COOPERATIVE $ 34,168NAME: STEVEN SICKLERACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $34,638EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $34,638LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (34,638)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,168EXPENSE TO THE COOPERATIVE $ 34,168NAME: BRAD ALGERACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 13,276EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $ 13,276LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (13,276)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,033EXPENSE TO THE COOPERATIVE $ 19,033NAME: BRIAN WELLMANACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,910EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $ 6,910LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,910)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,084EXPENSE TO THE COOPERATIVE $ 18,084

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• OECONNECT LLC

  BROADBAND · NY · income $1,567,814 · assets $6,592,594

  Directly controlled by OTSEGO ELECTRIC