Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $133,653,932 · related or exempt $133,653,932

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $8,067,511 · related or exempt $8,067,511

• 2c · Program service revenue: SERVICE FEES

  total $510,435 · related or exempt $510,435

• 3 · Investment income

  total $310,116 · excluded $310,116

• 5 · Royalties

  total $283,297 · excluded $283,297

• 7a · Gross sales of assets other than inventory

  other assets $43,446

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

  other assets $0

• 7c · Gain or loss

  other assets $43,446

• 7d · Net gain or loss

  total $43,446 · related or exempt $43,446

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $54,849 · excluded $54,849

• 11e · Other revenue, total

  $54,849

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $47,961

• 4 · Benefits paid to or for members

  total $7,419,638

• 5 · Compensation of officers, directors and key employees

  total $484,641

• 7 · Other salaries and wages

  total $5,485,737

• 8 · Pension plan contributions

  total $779,501

• 9 · Other employee benefits

  total $1,390,889

• 10 · Payroll taxes

  total $442,231

• 20 · Interest

  total $1,025,138

• 22 · Depreciation, depletion and amortization

  total $11,373,718

• 24a · Other expenses: PURCHASED POWER

  total $105,642,790

• 24b · Other expenses: ADMIN & GENERAL EXPENSE

  total $2,974,529

• 24c · Other expenses: DISTRIBUTION EXPENSE

  total $2,760,580

• 24d · Other expenses: CONSUMER EXPENSE

  total $1,203,398

• 24e · All other expenses

  total $339,835

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $9,521,085 · end of year $3,399,886

• 2 · Savings and temporary cash investments

  beginning of year $3,000,000 · end of year $3,000,000

• 4 · Accounts receivable

  beginning of year $7,014,746 · end of year $8,354,038

• 8 · Inventories for sale or use

  beginning of year $8,808,428 · end of year $8,148,480

• 9 · Prepaid expenses and deferred charges

  beginning of year $215,395 · end of year $309,253

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

  $192,517,253

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

  $60,197,536

• 10c · Land, buildings and equipment, net

  beginning of year $125,568,082 · end of year $132,319,717

• 12 · Investments: other securities

  beginning of year $293,957 · end of year $293,483

• 13 · Investments: program-related

  beginning of year $68,696,102 · end of year $76,513,590

• 15 · Other assets

  beginning of year $9,770,869 · end of year $11,308,203

• 17 · Accounts payable and accrued expenses

  beginning of year $9,076,930 · end of year $10,633,266

• 21 · Escrow or custodial account liability

  beginning of year $244,993 · end of year $482,008

• 23 · Secured mortgages and notes payable

  beginning of year $19,235,702 · end of year $25,521,279

• 25 · Other liabilities

  beginning of year $17,475,400 · end of year $12,350,307

• 29 · Capital stock, trust principal or current funds

  beginning of year $73,170 · end of year $73,240

• 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 $186,782,469 · end of year $194,586,550

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 ENVIORNMENT. 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. ERIC HALFMANN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 13,821 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,975 TOTAL REPORTED IN COLUMN C $ 19,796 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (13,821) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,450 EXPENSE TO THE COOPERATIVE $ 33,425 RANDY ORTIZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 8,056 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,186 TOTAL REPORTED IN COLUMN C $ 11,242 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (3,186) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,321 EXPENSE TO THE COOPERATIVE $ 18,507 RUSSELL KORZEKWA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 13,985 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,456 TOTAL REPORTED IN COLUMN C $ 18,441 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (13,985) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,617 EXPENSE TO THE COOPERATIVE $ 26,073 PAUL RODRIGUEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,147 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,157 TOTAL REPORTED IN COLUMN C $ 9,304 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,147) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,321 EXPENSE TO THE COOPERATIVE $ 18,507 JASON VYVLECKA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,765 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,335 TOTAL REPORTED IN COLUMN C $ 11,100 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,765) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 16,177 EXPENSE TO THE COOPERATIVE $ 19,512 JESSE BENAVIDES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,031 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,386 TOTAL REPORTED IN COLUMN C $ 11,417 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,031) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,374 EXPENSE TO THE COOPERATIVE $ 25,760