Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $16,897,629 · related or exempt $16,897,629

• 2b · Program service revenue: TRANSMISSION & WHEELING SERVICES

  total $1,278,219 · related or exempt $1,278,219

• 2c · Program service revenue: SALES OF WATER

  total $1,063,238 · related or exempt $1,063,238

• 2d · Program service revenue: SERVICE FEES

  total $881,867 · related or exempt $881,867

• 2e · Program service revenue: PATRONAGE DIVIDENDS

  total $561,656 · related or exempt $561,656

• 3 · Investment income

  total $21,613 · excluded $21,613

• 6a · Gross rents

  real property $8,182

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $8,182

• 6d · Net rental income or loss

  total $8,182 · excluded $8,182

• 7a · Gross sales of assets other than inventory

  other assets $11,982

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

  other assets $0

• 7c · Gain or loss

  other assets $11,982

• 7d · Net gain or loss

  total $11,982 · related or exempt $11,982

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $261,191 · excluded $261,191

• 11e · Other revenue, total

  $261,191

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $349,926

• 5 · Compensation of officers, directors and key employees

  total $507,033

• 7 · Other salaries and wages

  total $2,298,073

• 8 · Pension plan contributions

  total $588,982

• 9 · Other employee benefits

  total $448,064

• 10 · Payroll taxes

  total $174,785

• 20 · Interest

  total $1,149,564

• 22 · Depreciation, depletion and amortization

  total $1,886,155

• 24a · Other expenses: PURCHASED POWER

  total $11,148,422

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $1,339,326

• 24c · Other expenses: ADMINISTRATIVE AND GENE

  total $1,163,477

• 24d · Other expenses: CONSUMER EXPENSE

  total $275,984

• 24e · All other expenses

  total $135,044

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $40,694 · end of year $0

• 4 · Accounts receivable

  beginning of year $5,442,713 · end of year $2,747,773

• 7 · Other notes and loans receivable

  beginning of year $626,203 · end of year $347,222

• 8 · Inventories for sale or use

  beginning of year $1,152,024 · end of year $1,662,418

• 9 · Prepaid expenses and deferred charges

  beginning of year $562,385 · end of year $625,345

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

  $70,957,820

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

  $32,197,143

• 10c · Land, buildings and equipment, net

  beginning of year $28,763,171 · end of year $38,760,677

• 13 · Investments: program-related

  beginning of year $13,906,670 · end of year $14,558,766

• 15 · Other assets

  beginning of year $3,866,344 · end of year $4,505,589

• 17 · Accounts payable and accrued expenses

  beginning of year $2,748,522 · end of year $2,708,400

• 23 · Secured mortgages and notes payable

  beginning of year $16,318,121 · end of year $25,169,437

• 25 · Other liabilities

  beginning of year $6,555,015 · end of year $6,361,654

• 29 · Capital stock, trust principal or current funds

  beginning of year $28,490 · end of year $29,040

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

  beginning of year $6,457 · end of year $6,457

• 31 · Retained earnings, endowment or other funds

  beginning of year $28,703,599 · end of year $28,932,802

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. PHILLIP COOK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 38,075 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,824 TOTAL REPORTED IN COLUMN C $ 42,899 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (38,075) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,323 EXPENSE TO THE COOPERATIVE $ 40,147 RUSTY SHERMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 57,796 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,679 TOTAL REPORTED IN COLUMN C $ 61,475 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (57,796) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 40,136 EXPENSE TO THE COOPERATIVE $ 43,815 THAN ASHBY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,851 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,747 TOTAL REPORTED IN COLUMN C $ 46,598 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (42,851) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 40,136 EXPENSE TO THE COOPERATIVE $ 43,883 FRANCISCO MACARIO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 34,556 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,726 TOTAL REPORTED IN COLUMN C $ 37,282 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (34,556) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,536 EXPENSE TO THE COOPERATIVE $ 34,262 RANDY HAWKINS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 34,527 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,504 TOTAL REPORTED IN COLUMN C $ 38,031 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (34,527) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 0 EXPENSE TO THE COOPERATIVE $ 3,504 PRESTON SEALE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,860 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,719 TOTAL REPORTED IN COLUMN C $ 39,579 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (36,860) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,536 EXPENSE TO THE COOPERATIVE $ 34,255 VICTOR TRUJILLO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 24,867 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,005 TOTAL REPORTED IN COLUMN C $ 27,872 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (24,867) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,536 EXPENSE TO THE COOPERATIVE $ 34,541