Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $98,916,118 · related or exempt $98,916,118

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $6,135,331 · related or exempt $6,135,331

• 2c · Program service revenue: SERVICE FEES

  total $641,894 · related or exempt $641,894

• 2d · Program service revenue: LEASE INCOME FROM LCRA

  total $467,015 · related or exempt $467,015

• 2e · Program service revenue: OTHER PROGRAM REVENUE

  total $83,487 · related or exempt $83,487

• 3 · Investment income

  total $142,281 · excluded $142,281

• 7a · Gross sales of assets other than inventory

  other assets $24,193

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

  other assets $21,484

• 7c · Gain or loss

  other assets $2,709

• 7d · Net gain or loss

  total $2,709 · excluded $2,709

• 10a · Gross sales of inventory

  $332,268

• 10b · Cost of goods sold

  $297,967

• 10c · Net income from sales of inventory

  total $34,301 · related or exempt $32,806 · unrelated business $1,495

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $52,468 · excluded $52,468

• 11b · Other revenue: OTHER NON-OPERATING INCOME

  total $26,088 · related or exempt $26,088

• 11e · Other revenue, total

  $78,556

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $73,017

• 4 · Benefits paid to or for members

  total $11,209,022

• 5 · Compensation of officers, directors and key employees

  total $1,124,557

• 7 · Other salaries and wages

  total $4,768,269

• 8 · Pension plan contributions

  total $840,947

• 9 · Other employee benefits

  total $964,288

• 10 · Payroll taxes

  total $346,815

• 20 · Interest

  total $5,225,624

• 22 · Depreciation, depletion and amortization

  total $7,489,683

• 24a · Other expenses: PURCHASED POWER

  total $65,735,374

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $5,840,077

• 24c · Other expenses: CONSUMER EXPENSE

  total $1,306,464

• 24d · Other expenses: ADMIN & GENERAL EXPENSE

  total $995,254

• 24e · All other expenses

  total $596,778

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $721,004 · end of year $1,139,938

• 4 · Accounts receivable

  beginning of year $3,946,801 · end of year $3,696,970

• 7 · Other notes and loans receivable

  beginning of year $66,802 · end of year $48,015

• 8 · Inventories for sale or use

  beginning of year $5,037,568 · end of year $4,582,639

• 9 · Prepaid expenses and deferred charges

  beginning of year $70,283,509 · end of year $65,542,087

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

  $240,690,213

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

  $80,609,859

• 10c · Land, buildings and equipment, net

  beginning of year $203,688,527 · end of year $160,080,354

• 13 · Investments: program-related

  beginning of year $6,593,749 · end of year $30,323,255

• 15 · Other assets

  beginning of year $1,420,484 · end of year $1,406,007

• 17 · Accounts payable and accrued expenses

  beginning of year $9,092,587 · end of year $7,242,595

• 21 · Escrow or custodial account liability

  beginning of year $59,134 · end of year $38,203

• 23 · Secured mortgages and notes payable

  beginning of year $175,449,908 · end of year $139,371,865

• 25 · Other liabilities

  beginning of year $7,996,854 · end of year $11,696,455

• 29 · Capital stock, trust principal or current funds

  beginning of year $50,390 · end of year $48,650

• 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 $99,109,571 · end of year $108,421,497

The filer's explanations (Part III)

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. MICHAEL ABLES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 150,099 EMPLOYER CONTRIBUTION TO 401(K) PLAN 12,946 TOTAL REPORTED IN COLUMN C $ 163,045 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (150,099) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 50,099 EXPENSE TO THE COOPERATIVE $ 63,045 JAMES JOUETT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 92,600 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,532 TOTAL REPORTED IN COLUMN C $ 103,132 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (92,600) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 43,043 EXPENSE TO THE COOPERATIVE $ 53,575 JAMES PHILLIPS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,525 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,144 TOTAL REPORTED IN COLUMN C $ 36,669 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,525) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,658 EXPENSE TO THE COOPERATIVE $ 25,802 JOHN SPIESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 56,262 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,831 TOTAL REPORTED IN COLUMN C $ 64,093 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (56,262) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,500 EXPENSE TO THE COOPERATIVE $ 38,331 JARED JANICEK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 33,619 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,521 TOTAL REPORTED IN COLUMN C $ 42,140 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (33,619) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,926 EXPENSE TO THE COOPERATIVE $ 41,447 SHAWN BARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 28,330 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,605 TOTAL REPORTED IN COLUMN C $ 36,935 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (28,330) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,299 EXPENSE TO THE COOPERATIVE $ 42,904 ROBERT HROMADKA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 49,635 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,248 TOTAL REPORTED IN COLUMN C $ 55,883 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (49,635) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,142 EXPENSE TO THE COOPERATIVE $ 31,390 ROBERT PINA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,002 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,928 TOTAL REPORTED IN COLUMN C $ 34,930 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (30,002) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,865 EXPENSE TO THE COOPERATIVE $ 24,793