Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE

  total $22,658,946 · related or exempt $22,658,946

• 2b · Program service revenue: OTHER REVENUE

  total $584,242 · excluded $584,242

• 3 · Investment income

  total $113,423 · excluded $113,423

• 6a · Gross rents

  real property $4,000

• 6c · Rental income or loss

  real property $4,000

• 6d · Net rental income or loss

  total $4,000 · excluded $4,000

• 7a · Gross sales of assets other than inventory

  securities $41,725

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

  securities $16,222

• 7c · Gain or loss

  securities $25,503

• 7d · Net gain or loss

  total $25,503 · related or exempt $25,503

• 10a · Gross sales of inventory

  $225,258

• 10b · Cost of goods sold

  $198,617

• 10c · Net income from sales of inventory

  total $26,641 · related or exempt $26,641

• 11a · Other revenue: MISCELLANEOUS NONOP INCOME

  total $156,320 · related or exempt $156,320

• 11e · Other revenue, total

  $156,320

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,565,354

• 5 · Compensation of officers, directors and key employees

  total $404,607

• 20 · Interest

  total $1,035,841

• 22 · Depreciation, depletion and amortization

  total $2,367,965

• 24a · Other expenses: COST OF PURCHASED POWER

  total $12,614,792

• 24b · Other expenses: DISTRIBUTION - OPERATIONS

  total $1,708,541

• 24c · Other expenses: ADMINISTRATIVE AND GENERA

  total $1,275,401

• 24d · Other expenses: DISTRIBUTION - MAINTENANC

  total $1,234,918

• 24e · All other expenses

  total $934,999

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $43,100 · end of year $351,595

• 2 · Savings and temporary cash investments

  beginning of year $3,894,426 · end of year $3,001,694

• 4 · Accounts receivable

  beginning of year $2,042,085 · end of year $2,180,610

• 7 · Other notes and loans receivable

  beginning of year $30,633 · end of year $66,109

• 8 · Inventories for sale or use

  beginning of year $652,453 · end of year $1,137,496

• 9 · Prepaid expenses and deferred charges

  beginning of year $96,060 · end of year $104,024

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

  $72,966,136

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

  $20,189,782

• 10c · Land, buildings and equipment, net

  beginning of year $51,687,929 · end of year $52,776,354

• 13 · Investments: program-related

  beginning of year $13,240,569 · end of year $13,511,591

• 14 · Intangible assets

  beginning of year $808 · end of year $808

• 15 · Other assets

  beginning of year $155,462 · end of year $37,783

• 17 · Accounts payable and accrued expenses

  beginning of year $2,499,545 · end of year $2,775,439

• 23 · Secured mortgages and notes payable

  beginning of year $33,086,809 · end of year $32,990,969

• 25 · Other liabilities

  beginning of year $2,266,452 · end of year $2,143,083

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

  beginning of year $7,865,640 · end of year $8,129,207

• 31 · Retained earnings, endowment or other funds

  beginning of year $26,125,079 · end of year $27,129,366

The filer's explanations (Part III)

SCHEDULE J, PART III

PART I, LINE 3 - RELATED ORG METHODS USED FOR COMPENSATION EXPLANATION EXPLANATION: THE BOARD OF DIRECTORS COMPLETE AN ANNUAL PERFORMANCE REVIEW OF THE GENERAL MANAGER/CEO AND USE SEVERAL WAGE COMPARISON DATA TO DETERMINE THE GENERAL MANAGER/CEO'S SALARY. DATA SOURCES INCLUDE THE FORM 990 OF OTHER ELECTRIC COOPERATIVES AND THE NRECA COMPENSATION STUDY, WHICH INCLUDES WAGE COMPARISON BY REGION, STATE, POWER SUPPLIER, AND COOPERATIVE SIZE.