Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE

  total $321,654,965 · related or exempt $321,654,965

• 2b · Program service revenue: PATRONAGE CAPITAL CREDITS

  total $3,450,032 · related or exempt $3,450,032

• 2c · Program service revenue: POLE RENTAL

  total $3,169,069 · excluded $3,169,069

• 2d · Program service revenue: OTHER ELECTRIC REVENUE

  total $2,902,114 · related or exempt $2,902,114

• 3 · Investment income

  total $2,899,767 · excluded $2,899,767

• 5 · Royalties

  total $493,918 · excluded $493,918

• 11a · Other revenue: COOP CHOICE EARNINGS

  total $1,575,976 · unrelated business $1,575,976

• 11b · Other revenue: NON OP REV GAS SOUTH

  total $136,900 · unrelated business $136,900

• 11c · Other revenue: NON OP REV SURGE MONTHLY FEES

  total $76,363 · related or exempt $76,363

• 11d · All other revenue

  total -$539,759 · related or exempt -$539,759

• 11e · Other revenue, total

  $1,249,480

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $16,494,549

• 5 · Compensation of officers, directors and key employees

  total $1,312,039

• 20 · Interest

  total $12,011,449

• 22 · Depreciation, depletion and amortization

  total $22,591,724

• 24a · Other expenses: PURCHASED POWER

  total $228,032,228

• 24b · Other expenses: DISTRIBUTION OPERATIONS/M

  total $33,177,381

• 24c · Other expenses: ADMIN. & GENERAL EXP.

  total $9,851,432

• 24d · Other expenses: CONSUMER ACCOUNTS

  total $7,267,113

• 24e · All other expenses

  total $3,968,817

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $8,305,432 · end of year $10,027,243

• 2 · Savings and temporary cash investments

  beginning of year $10,300,000 · end of year $59,510,000

• 4 · Accounts receivable

  beginning of year $61,315,201 · end of year $47,696,105

• 7 · Other notes and loans receivable

  end of year $3,000,000

• 8 · Inventories for sale or use

  beginning of year $7,719,284 · end of year $12,756,812

• 9 · Prepaid expenses and deferred charges

  beginning of year $337,279 · end of year $686,870

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

  $714,152,482

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

  $166,498,527

• 10c · Land, buildings and equipment, net

  beginning of year $515,485,571 · end of year $547,653,955

• 11 · Investments: publicly traded securities

  end of year -$592,806

• 13 · Investments: program-related

  beginning of year $35,077,145 · end of year $37,943,406

• 15 · Other assets

  beginning of year $18,613,208 · end of year $21,871,154

• 17 · Accounts payable and accrued expenses

  beginning of year $35,113,921 · end of year $36,759,290

• 23 · Secured mortgages and notes payable

  beginning of year $297,106,970 · end of year $368,478,073

• 25 · Other liabilities

  beginning of year $25,089,150 · end of year $30,135,611

• 29 · Capital stock, trust principal or current funds

  beginning of year $1,262,085 · end of year $1,289,304

• 31 · Retained earnings, endowment or other funds

  beginning of year $298,580,994 · end of year $303,890,461

The filer's explanations (Part III)

SCHEDULE J, PART III

SCHEDULE J, PART II, COLUMN B (III) - THE AMOUNTS REPORTED IN THIS COLUMN GENERALLY INCLUDE AMOUNTS PAID OUT UNDER A NON-QUALIFIED DEFERRED COMPENSATION PLAN (NQDC PLAN). THE PURPOSE OF THE PLAN IS TO MAKE WHOLE CERTAIN MEMBERS OF MANAGEMENT WHOSE ACCRUED BENEFIT UNDER THE NRECA R&S PENSION PLAN WAS LIMITED BY THE INTERNAL REVENUE CODE. DISTRIBUTIONS FROM THE NQDC PLAN ARE PROCESSED THROUGH THE COMPANY'S PAYROLL SYSTEM AND INCLUDED IN EACH PARTICIPANT'S REPORTABLE COMPENSATION. A CREDIT IS RECEIVED FROM NRECA FOR AMOUNTS THE COMPANY PAID THE PARTICIPANTS. THERE WAS NO DISTRIBUTION FROM THE NQDC PLAN FOR THE YEAR ENDED DECEMBER 31, 2023.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• GREYSTONE CONNECT LLC GREYSTONE CONNECT LLC

  BROADBAND · GA · assets $325,387

  Directly controlled by GPC