Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: POLE RENTAL

  total $243,791 · related or exempt $243,791

• 2b · Program service revenue: OTHER CAPITAL CREDIT

  total $200,835 · related or exempt $200,835

• 2c · Program service revenue: GAIN FROM EQUITY INVESTMENTS

  total $29,129 · related or exempt $29,129

• 3 · Investment income

  total $1,012,277 · related or exempt $1,012,277

• 7a · Gross sales of assets other than inventory

  other assets $66,436

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

  other assets $13,836

• 7c · Gain or loss

  other assets $52,600

• 7d · Net gain or loss

  total $52,600 · related or exempt $52,600

• 10a · Gross sales of inventory

  $49,449,403

• 10b · Cost of goods sold

  $23,763,877

• 10c · Net income from sales of inventory

  total $25,685,526 · related or exempt $25,685,526

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,740,175 · program services $1,740,175

• 5 · Compensation of officers, directors and key employees

  total $730,033 · program services $730,033

• 7 · Other salaries and wages

  total $3,720,326 · program services $3,720,326

• 8 · Pension plan contributions

  total $1,138,338 · program services $1,138,338

• 9 · Other employee benefits

  total $1,974,694 · program services $1,974,694

• 10 · Payroll taxes

  total $400,732 · program services $400,732

• 11b · Fees: legal

  total $38,170 · program services $38,170

• 11c · Fees: accounting

  total $18,550 · program services $18,550

• 13 · Office expenses

  total $540,086 · program services $540,086

• 14 · Information technology

  total $29,514 · program services $29,514

• 17 · Travel

  total $14,367 · program services $14,367

• 20 · Interest

  total $2,247,562 · program services $2,247,562

• 22 · Depreciation, depletion and amortization

  total $4,384,468 · program services $4,384,468

• 23 · Insurance

  total $82,472 · program services $82,472

• 24a · Other expenses: OPERATIONS & MAINTENANC

  total $5,608,210 · program services $5,608,210

• 24b · Other expenses: TAXES AND LICENSES

  total $1,017,782 · program services $1,017,782

• 24c · Other expenses: ADMINISTRATIVE & GENERA

  total $715,954 · program services $715,954

• 24d · Other expenses: CUSTOMER SALES & SERVIC

  total $349,251 · program services $349,251

• 24e · All other expenses

  total $173,474 · program services $173,474

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $979,858 · end of year $972,213

• 2 · Savings and temporary cash investments

  beginning of year $13,977,304 · end of year $3,961,330

• 4 · Accounts receivable

  beginning of year $6,295,885 · end of year $5,817,192

• 7 · Other notes and loans receivable

  beginning of year $27,001 · end of year $26,924

• 8 · Inventories for sale or use

  beginning of year $2,549,949 · end of year $2,662,243

• 9 · Prepaid expenses and deferred charges

  beginning of year $164,916 · end of year $148,714

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

  $154,576,363

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

  $38,017,351

• 10c · Land, buildings and equipment, net

  beginning of year $107,958,512 · end of year $116,559,012

• 15 · Other assets

  beginning of year $20,853,256 · end of year $18,288,947

• 17 · Accounts payable and accrued expenses

  beginning of year $8,314,210 · end of year $9,154,189

• 19 · Deferred revenue

  beginning of year $10,950,000 · end of year $8,650,000

• 23 · Secured mortgages and notes payable

  beginning of year $85,885,532 · end of year $82,096,182

• 25 · Other liabilities

  beginning of year $149,213 · end of year $219,077

• 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 $47,507,726 · end of year $48,317,127

The filer's explanations (Part III)

SCH J. PAGE 2,PART II COL. C

COLUMN C INCLUDES ACTUARIAL INCREASES IN DEFINED BENEFIT PLAN AND HOEC 401K MATCH CONTRIBUTION OVERVIEW OF PLAN: PART II, COLUMN C: INCLUDED IS THE INCREASE (DECREASE) IN ACTUARIAL VALUE OF BENEFITS PAYABLE IN THE FUTURE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA RS 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 AND ALL OTHER THINGS BEING EQUAL, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE (DECREASE) ARE EXPENSED IN THE FINANCIAL STATEMENTS. BENEFITS REPORTED FOR PARTICIPATION IN NON-QUALIFIED RETIREMENT AND DEFERRED COMPENSATION PLANS ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE UNTIL VESTING UNDER THE PLAN OCCURS. RECONCILIATION OF PART II, COLUMN C TO ACTUAL EXPENSE OF THE COOPERATIVE: DAN SINGLETARY ACTUARIAL INCREASE IN DB PLAN $223,877 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 12,350 TOTAL REPORTED IN COLUMN C $236,227 LESS: ACTUARIAL INCREASE IN DB PLAN <$223,877> ADD: CASH CONTRIBUTIONS TO DB PLAN 82,000 EXPENSE TO THE COOPERATIVE $94,350 COMPENSATION FROM ASSOCIATED ORGANIZATIONS $16,256 LESS AMOUNT PAID BY SHO-ME < 16,256> EXPENSE TO THE COOPERATIVE $ 0 NONTAXABLE COMPENSATION FROM ASSOCIATED ORGANIZATIONS $ 16 LESS AMOUNT PAID BY SHO-ME < 16> EXPENSE TO THE COOPERATIVE $ 0 TRACY BROWER ACTUARIAL INCREASE IN DB PLAN $ 69,853 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 5,587 TOTAL REPORTED IN COLUMN C $ 75,440 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 69,853> ADD: CASH CONTRIBUTIONS TO DB PLA 36,100 EXPENSE TO THE COOPERATIVE $ 41,687 TROY HOGSETT ACTUARIAL INCREASE IN DB PLAN $ 67,161 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 5,789 TOTAL REPORTED IN COLUMN C $ 72,950 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 67,161> ADD: CASH CONTRIBUTIONS TO DB PLA 37,239 EXPENSE TO THE COOPERATIVE $ 43,028 BENNIE PERKINS ACTUARIAL INCREASE IN DB PLAN $ 67,505 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 4,491 TOTAL REPORTED IN COLUMN C $ 71,996 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 67,505> ADD: CASH CONTRIBUTIONS TO DB PLA 36,022 EXPENSE TO THE COOPERATIVE $ 40,513 CHAD WICKINS ACTUARIAL INCREASE IN DB PLAN $ 52,548 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 3,852 TOTAL REPORTED IN COLUMN C $ 56,400 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 52,548> ADD: CASH CONTRIBUTIONS TO DB PLA 25,632 EXPENSE TO THE COOPERATIVE $ 29,484 BILL TEMPLE ACTUARIAL INCREASE IN DB PLAN $ 32,503 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 4,340 TOTAL REPORTED IN COLUMN C $ 36,843 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 32,503> ADD: CASH CONTRIBUTIONS TO DB PLA 28,551 EXPENSE TO THE COOPERATIVE $ 32,891 CARL GIVENS ACTUARIAL INCREASE IN DB PLAN $ 42,353 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 3,768 TOTAL REPORTED IN COLUMN C $ 46,121 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 42,353> ADD: CASH CONTRIBUTIONS TO DB PLA 25,069 EXPENSE TO THE COOPERATIVE $ 28,837 SCOTT WARD ACTUARIAL INCREASE IN DB PLAN $ 21,522 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 0 TOTAL REPORTED IN COLUMN C $ 21,522 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 21,522> ADD: CASH CONTRIBUTIONS TO DB PLA 25,342 EXPENSE TO THE COOPERATIVE $ 25,342 *DB - DEFINED BENEFIT PENSION PLAN

SCH J. PAGE 2, PART II COL. B

RECONCILIATION OF PART II, B TO ACTUAL EXPENSE OF THE COOPERATIVE: DAN SINGLETARY BASE COMPENSATION FROM RELATED ORGANIZATIONS $ 45,850 LESS AMOUNT PAID BY ASSOC. ELECTRIC COOP. < 28,000> LESS AMOUNT PAID BY SHO-ME < 17,850> EXPENSE TO THE COOPERATIVE $ 0

Related corporations and trusts

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

• HOWELL-OREGON TECHNOLOGIES LLC

  C · WHOLLY OWNED SUB · MO · 100% owned · share of income $29,129 · share of assets $124,293

• HOWELL-OREGON SERVICE CORP

  C · INACTIVE WHOLLY OWNED SUB · MO · 100% owned · share of assets $500

• SHO-ME POWER ELECTRIC COOPERATIVE

  C · ELECTRIC POWER TRANSMISSION · MO · 11.11% owned · share of income $27,289,604 · share of assets $53,199,235