Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $0

• 1b · Membership dues

  $0

• 1c · Fundraising events

  $0

• 1d · Related organizations

  $0

• 1e · Government grants (contributions)

  $0

• 1f · All other contributions, gifts and grants

  $0

• 1g · Noncash contributions included above

  $0

• 2a · Program service revenue: Electric Energy Revenue & Gross Sales

  total $109,678,300 · related or exempt $109,678,300 · unrelated business $0 · excluded $0

• 2b · Program service revenue: Miscellaneous Revenue

  total $921,019 · related or exempt $921,019 · unrelated business $0 · excluded $0

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $689,163 · related or exempt $0 · unrelated business $0 · excluded $689,163

• 4 · Income from investment of tax-exempt bond proceeds

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 5 · Royalties

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 6a · Gross rents

  real property $0 · personal property $0

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 6d · Net rental income or loss

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 7a · Gross sales of assets other than inventory

  securities $0 · other assets $1,383,485

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

  securities $0 · other assets $0

• 7c · Gain or loss

  securities $0 · other assets $1,383,485

• 7d · Net gain or loss

  total $1,383,485 · related or exempt $0 · unrelated business $1,383,485 · excluded $0

• 8a · Fundraising events: gross income

  $0

• 8a · Fundraising events: contributions included on line 1c

  $0

• 8b · Fundraising events: direct expenses

  $0

• 8c · Net income from fundraising events

  total $0 · unrelated business $0 · excluded $0

• 9a · Gaming: gross income

  $0

• 9b · Gaming: direct expenses

  $0

• 9c · Net income from gaming

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 10a · Gross sales of inventory

  $7,232

• 10b · Cost of goods sold

  $6,935

• 10c · Net income from sales of inventory

  total $297 · related or exempt $0 · unrelated business $297 · excluded $0

• 11a · Other revenue: G&T and other capital credits

  total $5,499,737 · related or exempt $5,499,737 · unrelated business $0 · excluded $0

• 11b · Other revenue: Other Revenue

  total $41,998 · related or exempt $41,998 · unrelated business $0 · excluded $0

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $5,541,735

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $39,808

• 2 · Grants to domestic individuals

  total $67,100

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $0

• 5 · Compensation of officers, directors and key employees

  total $1,978,380

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $7,736,975

• 8 · Pension plan contributions

  total $1,180,550

• 9 · Other employee benefits

  total $2,907,548

• 10 · Payroll taxes

  total $856,300

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $490,402

• 11c · Fees: accounting

  total $85,783

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $0

• 11g · Fees: other

  total $613,633

• 12 · Advertising and promotion

  total $33,008

• 13 · Office expenses

  total $293,274

• 14 · Information technology

  total $574,645

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $0

• 17 · Travel

  total $98,813

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $154,521

• 20 · Interest

  total $3,728,495

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $10,362,047

• 23 · Insurance

  total $395,134

• 24a · Other expenses: Cost of Power

  total $67,142,037

• 24b · Other expenses: Transmission & Distribution

  total $3,162,221

• 24c · Other expenses: Maintenance of distribution plant

  total $1,272,742

• 24d · Other expenses: G&A and other Customer Expenses

  total $4,077,705

• 24e · All other expenses

  total $215,321

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $15,951,375 · end of year $9,815,929

• 2 · Savings and temporary cash investments

  beginning of year $0 · end of year $0

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $0

• 4 · Accounts receivable

  beginning of year $13,016,366 · end of year $12,081,956

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $4,197,459 · end of year $3,979,802

• 9 · Prepaid expenses and deferred charges

  beginning of year $561,454 · end of year $443,304

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

  $350,294,761

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

  $171,691,023

• 10c · Land, buildings and equipment, net

  beginning of year $166,437,143 · end of year $178,603,738

• 11 · Investments: publicly traded securities

  beginning of year $0 · end of year $0

• 12 · Investments: other securities

  beginning of year $77,427,977 · end of year $81,333,022

• 13 · Investments: program-related

  beginning of year $0 · end of year $0

• 14 · Intangible assets

  beginning of year $0 · end of year $0

• 15 · Other assets

  beginning of year $8,106,725 · end of year $6,708,659

• 17 · Accounts payable and accrued expenses

  beginning of year $7,568,461 · end of year $8,029,508

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $21,714,517 · end of year $24,062,290

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $100,482,626 · end of year $96,248,638

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $6,154,320 · end of year $6,489,331

• 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 $0 · end of year $0

• 31 · Retained earnings, endowment or other funds

  beginning of year $149,778,575 · end of year $158,136,643

The filer's explanations (Part III)

Schedule J, Part I, Line 1a

As a benefit to all employees, LPEA will pay a portion of health club dues.

Schedule J, Part I, Line 3

LPEA obtains salary compensation reports developed by an independent third party from data gathered from cooperatives with similar demographics nation-wide. All compensation changes are reviewed and approved by the Executive committee; the Board of Directors gives final approval. Annual contracts are signed, and documentation of the discussions is noted in the Board of Directors minutes.