Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $39,875,997 · related or exempt $39,875,997

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $2,660,817 · related or exempt $2,660,817

• 2c · Program service revenue: SERVICE FEES

  total $240,891 · related or exempt $240,891

• 2d · Program service revenue: TRANSMISSION ACCESS/WHEELING

  total $63,982 · related or exempt $63,982

• 2e · Program service revenue: OTHER PROGRAM REVENUE

  total $27,174 · related or exempt $27,174

• 3 · Investment income

  total $62,077 · excluded $62,077

• 7a · Gross sales of assets other than inventory

  other assets $228,300

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

  other assets $17,889

• 7c · Gain or loss

  other assets $210,411

• 7d · Net gain or loss

  total $210,411 · related or exempt $210,411

• 10a · Gross sales of inventory

  $5,158

• 10b · Cost of goods sold

  $4,067

• 10c · Net income from sales of inventory

  total $1,091 · related or exempt $1,127 · unrelated business -$36

• 11a · Other revenue: FIBER ACCESS REVENUE

  total $7,404,012 · related or exempt $46,102 · unrelated business $5,865,819 · excluded $1,492,091

• 11b · Other revenue: FIBER CONSTRUCTION GRANTS

  total $2,533,397 · unrelated business $2,533,397

• 11c · Other revenue: POLE ATTACHMENT INCOME

  total $95,424 · excluded $95,424

• 11e · Other revenue, total

  $10,032,833

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $8,285

• 4 · Benefits paid to or for members

  total $3,312,869

• 5 · Compensation of officers, directors and key employees

  total $915,832

• 7 · Other salaries and wages

  total $3,548,939

• 8 · Pension plan contributions

  total $712,372

• 9 · Other employee benefits

  total $922,457

• 10 · Payroll taxes

  total $256,112

• 20 · Interest

  total $6,806,908

• 22 · Depreciation, depletion and amortization

  total $5,461,256

• 24a · Other expenses: PURCHASED POWER

  total $21,048,432

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $4,245,508

• 24c · Other expenses: TAXES

  total $1,352,509

• 24d · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,261,718

• 24e · All other expenses

  total $788,679

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,340,206 · end of year $978,243

• 2 · Savings and temporary cash investments

  beginning of year $30,719 · end of year $30,913

• 4 · Accounts receivable

  beginning of year $4,884,423 · end of year $4,858,716

• 8 · Inventories for sale or use

  beginning of year $10,619,008 · end of year $6,131,366

• 9 · Prepaid expenses and deferred charges

  beginning of year $164,276 · end of year $262,461

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

  $187,253,622

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

  $26,094,974

• 10c · Land, buildings and equipment, net

  beginning of year $148,402,340 · end of year $161,158,648

• 12 · Investments: other securities

  end of year $27,862

• 13 · Investments: program-related

  beginning of year $23,783,736 · end of year $25,696,782

• 15 · Other assets

  beginning of year $581,666 · end of year $585,944

• 17 · Accounts payable and accrued expenses

  beginning of year $7,732,556 · end of year $5,754,594

• 23 · Secured mortgages and notes payable

  beginning of year $127,193,840 · end of year $134,652,293

• 25 · Other liabilities

  beginning of year $3,003,330 · end of year $5,222,237

• 29 · Capital stock, trust principal or current funds

  beginning of year $271,890 · end of year $274,940

• 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 $51,604,758 · end of year $53,826,871

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. 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. JARROD CAMPBELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $131,540 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,816 TOTAL REPORTED IN COLUMN C $145,356 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (131,540) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 87,795 EXPENSE TO THE COOPERATIVE $101,611 JAMES NISSEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,625 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 42,625 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (42,625) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 31,932 EXPENSE TO THE COOPERATIVE $ 30,456 CLINTON BENNETT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 47,859 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 47,859 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (47,859) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 33,231 EXPENSE TO THE COOPERATIVE $ 33,231 JAROD MCBRAYER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,199 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 30,199 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (30,199) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 31,932 EXPENSE TO THE COOPERATIVE $ 31,932 MATTHEW SHARP: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,831 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,537 TOTAL REPORTED IN COLUMN C $ 22,368 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (14,831) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 37,867 EXPENSE TO THE COOPERATIVE $ 45,404 MICHAEL MASTEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 56,312 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,642 TOTAL REPORTED IN COLUMN C $ 62,954 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (56,312) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 42,564 EXPENSE TO THE COOPERATIVE $ 49,206 STETSON SHIRKY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,830 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 17,830 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (17,830) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 33,231 EXPENSE TO THE COOPERATIVE $ 33,231 TREVON RILEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 12,448 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,537 TOTAL REPORTED IN COLUMN C $ 19,985 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN: (12,448) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN: 37,867 EXPENSE TO THE COOPERATIVE $ 45,404

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• OSAGE VALLEY TECHNOLOGIES LLC

  C · TELECOMMUNICATIONS · MO · 100% owned · controlled entity

  Directly controlled by OSAGE VALLEY ELECTRIC COOPEATIVE ASSOCIATION