Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $12,233,617 · related or exempt $12,233,617

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $196,100 · related or exempt $196,100

• 2c · Program service revenue: SERVICE FEES

  total $53,194 · related or exempt $53,194

• 3 · Investment income

  total $14,929 · excluded $14,929

• 10a · Gross sales of inventory

  $731

• 10b · Cost of goods sold

  $6,506

• 10c · Net income from sales of inventory

  total -$5,775 · related or exempt -$5,775

• 11a · Other revenue: HESTER WATER DIVISION

  total $167,658 · unrelated business $167,658

• 11b · Other revenue: WATER MANAGEMENT CONTRACT

  total $57,858 · unrelated business $57,858

• 11e · Other revenue, total

  $225,516

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $15,244

• 4 · Benefits paid to or for members

  total $684,878

• 5 · Compensation of officers, directors and key employees

  total $310,284

• 7 · Other salaries and wages

  total $1,081,930

• 8 · Pension plan contributions

  total $232,896

• 9 · Other employee benefits

  total $250,208

• 10 · Payroll taxes

  total $92,823

• 20 · Interest

  total $1,136,227

• 22 · Depreciation, depletion and amortization

  total $1,597,553

• 24a · Other expenses: PURCHASED POWER

  total $5,752,358

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $621,719

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $478,782

• 24d · Other expenses: WATER DIVISION OPERATIN

  total $140,666

• 24e · All other expenses

  total $375,121

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $566,334 · end of year $7,658,028

• 2 · Savings and temporary cash investments

  beginning of year $52,458 · end of year $52,507

• 4 · Accounts receivable

  beginning of year $670,769 · end of year $564,232

• 7 · Other notes and loans receivable

  beginning of year $7,096 · end of year $1,589

• 8 · Inventories for sale or use

  beginning of year $462,400 · end of year $57,577

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,871,324 · end of year $4,707,410

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

  $46,184,845

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

  $18,239,686

• 10c · Land, buildings and equipment, net

  beginning of year $27,874,300 · end of year $27,945,159

• 13 · Investments: program-related

  beginning of year $4,873,245 · end of year $5,022,312

• 15 · Other assets

  beginning of year $484,515 · end of year $459,175

• 17 · Accounts payable and accrued expenses

  beginning of year $524,665 · end of year $500,635

• 23 · Secured mortgages and notes payable

  beginning of year $26,554,319 · end of year $33,947,576

• 25 · Other liabilities

  beginning of year $1,863,435 · end of year $467,973

• 29 · Capital stock, trust principal or current funds

  beginning of year $7,735 · end of year $7,680

• 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 $10,912,287 · end of year $11,544,125

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 (NRECA RS PLAN). THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE 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. AARON PAXTON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 33,586 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,040 TOTAL REPORTED IN COLUMN C $ 35,626 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (33,586) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 61,427 EXPENSE TO THE COOPERATIVE $ 63,467 TOMMY CASWELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 76,271 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,025 TOTAL REPORTED IN COLUMN C $ 77,296 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (76,271) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,893 EXPENSE TO THE COOPERATIVE $ 31,918 BRAD WHISENANT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 68,181 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,135 TOTAL REPORTED IN COLUMN C $ 69,316 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (68,181) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,225 EXPENSE TO THE COOPERATIVE $ 35,360 ALEXANDER VELASQUEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 25,644 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,020 TOTAL REPORTED IN COLUMN C $ 26,664 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (25,644) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,733 EXPENSE TO THE COOPERATIVE $ 31,753 CHAD SHOTTS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 35,822 EMPLOYER CONTRIBUTION TO 401(K) PLAN 923 TOTAL REPORTED IN COLUMN C $ 36,745 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (35,822) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,311 EXPENSE TO THE COOPERATIVE $ 28,234 MONTY WORTHEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ -0- EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,275 TOTAL REPORTED IN COLUMN C $ 1,275 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (-0-) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,689 EXPENSE TO THE COOPERATIVE $ 39,964