Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $893,685,815 · related or exempt $893,685,815

• 2b · Program service revenue: SALES OF TRANS. & DIST

  total $17,170,840 · related or exempt $17,170,840

• 2c · Program service revenue: EMISSION ALLOW. SALE

  total $9,238,244 · related or exempt $9,238,244

• 2f · All other program service revenue

  total $59,334 · related or exempt $59,334

• 3 · Investment income

  total $15,040,985 · excluded $15,040,985

• 6a · Gross rents

  real property $10,025

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $10,025

• 6d · Net rental income or loss

  total $10,025 · excluded $10,025

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

  other assets $481,646

• 7c · Gain or loss

  other assets -$481,646

• 7d · Net gain or loss

  total -$481,646 · related or exempt -$481,646

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $4,000,632

• 7 · Other salaries and wages

  total $4,443,959

• 9 · Other employee benefits

  total $2,374,333

• 10 · Payroll taxes

  total $528,661

• 11b · Fees: legal

  total $2,419,860

• 11c · Fees: accounting

  total $167,736

• 11g · Fees: other

  total $1,582,924

• 12 · Advertising and promotion

  total $604,449

• 13 · Office expenses

  total $4,368,461

• 16 · Occupancy

  total $378,162

• 17 · Travel

  total $136,773

• 19 · Conferences, conventions and meetings

  total $269,700

• 20 · Interest

  total $39,502,094

• 22 · Depreciation, depletion and amortization

  total $59,142,497

• 24a · Other expenses: PURCHASED POWER EXPENSE

  total $626,692,589

• 24b · Other expenses: FUEL EXPENSE

  total $102,000,896

• 24c · Other expenses: OP. & MAINT. EXPENSE

  total $71,830,456

• 24d · Other expenses: MISCELLANEOUS EXPENSES

  total $1,443,204

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $151,936,710 · end of year $133,708,570

• 4 · Accounts receivable

  beginning of year $81,267,202 · end of year $106,865,761

• 7 · Other notes and loans receivable

  beginning of year $1,753,950 · end of year $1,731,762

• 8 · Inventories for sale or use

  beginning of year $16,836,426 · end of year $20,167,030

• 9 · Prepaid expenses and deferred charges

  beginning of year $98,697,473 · end of year $316,602,048

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

  $1,607,160,781

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

  $631,568,475

• 10c · Land, buildings and equipment, net

  beginning of year $919,562,461 · end of year $975,592,306

• 12 · Investments: other securities

  beginning of year $18,429,986 · end of year $20,085,355

• 15 · Other assets

  beginning of year $19,541,043 · end of year $23,837,438

• 17 · Accounts payable and accrued expenses

  beginning of year $158,015,235 · end of year $134,304,931

• 19 · Deferred revenue

  beginning of year $36,571,882 · end of year $262,465,493

• 20 · Tax-exempt bond liabilities

  beginning of year $26,150,000 · end of year $25,950,000

• 23 · Secured mortgages and notes payable

  beginning of year $820,985,206 · end of year $898,753,590

• 25 · Other liabilities

  beginning of year $0 · end of year $1,813,328

• 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 $13,000,000 · end of year $13,000,000

• 31 · Retained earnings, endowment or other funds

  beginning of year $253,302,928 · end of year $262,302,928

The filer's explanations (Part III)

PART I, LINE 4A:

FORMER KEY EMPLOYEE, BRIAN FITZGERALD WAS PAID $288,588 IN SEVERANCE PAYMENTS DURING 2022 IN ACCORDANCE WITH THE TERMS AND CONDITIONS OF A SEPARATION AGREEMENT.

PART I, LINE 4B:

ELIGIBLE EMPLOYEES PARTICIPATE IN A NONQUALIFIED DEFERRED COMPENSATION PLAN ORGANIZED UNDER CODE SECTION 457(F). ANY AMOUNT ULTIMATELY PAID UNDER THE PROGRAM TO THE EMPLOYEE IS REPORTED AS COMPENSATION ON FORM 990, SCHEDULE J, PART II, COLUMN B IN THE YEAR PAID. NO SUPPLEMENTAL NONQUALIFIED PLAN PAYMENTS WERE MADE DURING THE YEAR TO ANY LISTED PERSONS IN PART VII.

Related corporations and trusts

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

• WABASH VALLEY ENERGY MARKETING INC

  C · POWER MARKETING · IN · 100% owned · share of income $1,161,042 · share of assets $8,289,382 · controlled entity

  Directly controlled by WABASH VALLEY POWER ASSOCIATION INC