Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $76,772,663 · related or exempt $76,772,663

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $1,234,360 · related or exempt $1,234,360

• 2c · Program service revenue: SERVICE FEES

  total $105,781 · related or exempt $105,781

• 3 · Investment income

  total $44,944 · excluded $44,944

• 5 · Royalties

  total $108 · excluded $108

• 7a · Gross sales of assets other than inventory

  other assets $193,675

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

  other assets $0

• 7c · Gain or loss

  other assets $193,675

• 7d · Net gain or loss

  total $193,675 · related or exempt $193,675

• 10a · Gross sales of inventory

  $189,285

• 10b · Cost of goods sold

  $198,894

• 10c · Net income from sales of inventory

  total -$9,609 · related or exempt -$9,609

• 11a · Other revenue: EMPLOYEE RETENTION CREDIT

  total $45,338 · excluded $45,338

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $8,488 · excluded $8,488

• 11e · Other revenue, total

  $53,826

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $75,412

• 4 · Benefits paid to or for members

  total $6,580,406

• 5 · Compensation of officers, directors and key employees

  total $1,830,715

• 7 · Other salaries and wages

  total $3,216,742

• 8 · Pension plan contributions

  total $466,472

• 9 · Other employee benefits

  total $568,384

• 10 · Payroll taxes

  total $284,310

• 20 · Interest

  total $4,442,048

• 22 · Depreciation, depletion and amortization

  total $6,193,505

• 24a · Other expenses: PURCHASED POWER

  total $46,925,693

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $4,082,203

• 24c · Other expenses: OPERATING TAXES

  total $1,553,718

• 24d · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,546,205

• 24e · All other expenses

  total $629,935

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $143,255 · end of year $666,530

• 2 · Savings and temporary cash investments

  beginning of year $21,535 · end of year $1,023

• 4 · Accounts receivable

  beginning of year $7,121,189 · end of year $7,767,628

• 8 · Inventories for sale or use

  beginning of year $111,687 · end of year $62,093

• 9 · Prepaid expenses and deferred charges

  beginning of year $58,712 · end of year $81,216

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

  $189,005,355

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

  $20,106,864

• 10c · Land, buildings and equipment, net

  beginning of year $157,428,949 · end of year $168,898,491

• 13 · Investments: program-related

  beginning of year $23,276,065 · end of year $24,342,075

• 15 · Other assets

  beginning of year $1,112,587 · end of year $1,085,718

• 17 · Accounts payable and accrued expenses

  beginning of year $7,389,826 · end of year $7,738,408

• 23 · Secured mortgages and notes payable

  beginning of year $86,654,553 · end of year $95,177,644

• 25 · Other liabilities

  beginning of year $9,634,346 · end of year $9,382,833

• 29 · Capital stock, trust principal or current funds

  beginning of year $497,463 · end of year $690,714

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $3,774,161 · end of year $3,840,565

• 31 · Retained earnings, endowment or other funds

  beginning of year $81,323,630 · end of year $86,074,610

The filer's explanations (Part III)

PART I, LINE 1A

PURSUANT TO APPLICABLE TRAVEL POLICIES, THE COOPERATIVE WILL REIMBURSE EMPLOYEES FOR THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL BUSINESS OF THE COOPERATIVE. DURING THE YEAR, THREE INDIVIDUALS REPORTED ON FORM 990 PART VII (ANDREWS, JONES, & ROARK) RECEIVED THESE BENEFITS. THE VALUE OF SUCH BENEFITS WERE ALSO INCLUDED IN THE REPORTABLE COMPENSATION OF EACH. ADDITIONALLY, THE COOPERATIVE WILL PAY ONE-HALF OF THE COST OF A GYM MEMBERSHIP PURSUANT TO A WELLNESS POLICY. DURING THE YEAR, ZERO INDIVIDUALS REPORTED ON FORM 990 PART VII RECEIVED THIS BENEFIT. SINCE THE COOPERATIVE CONSIDERS THE REIMBURSEMENT TO BE CONSISTENT TO A BONA FIDE BUSINESS PURPOSE, SUCH REIMBURSEMENTS WERE EXCLUDED FROM REPORTABLE COMPENSATION.

PART I, LINE 4B

AARON ROARK PARTICIPATES IN A SECTION 457(B) NON-QUALIFIED RETIREMENT PLAN. THE 457(B) EMPLOYER CONTRIBUTION FOR 2025 OF $20,065 HAS BEEN INCLUDED IN COLUMN B(III) AS TAXABLE COMPENSATION.