Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE

  total $22,360,423 · related or exempt $22,360,423

• 2b · Program service revenue: OTHER REVENUE

  total $704,189 · excluded $704,189

• 3 · Investment income

  total $189,645 · excluded $189,645

• 6a · Gross rents

  real property $5,080

• 6c · Rental income or loss

  real property $5,080

• 6d · Net rental income or loss

  total $5,080 · excluded $5,080

• 10a · Gross sales of inventory

  $101,374

• 10b · Cost of goods sold

  $82,864

• 10c · Net income from sales of inventory

  total $18,510 · related or exempt $18,510

• 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 $1,433,808

• 5 · Compensation of officers, directors and key employees

  total $438,454

• 20 · Interest

  total $1,007,912

• 22 · Depreciation, depletion and amortization

  total $2,485,839

• 24a · Other expenses: COST OF PURCHASED POWER

  total $12,311,335

• 24b · Other expenses: DISTRIBUTION - OPERATIONS

  total $1,653,143

• 24c · Other expenses: ADMINISTRATIVE AND GENERA

  total $1,330,802

• 24d · Other expenses: DISTRIBUTION - MAINTENANC

  total $1,210,596

• 24e · All other expenses

  total $1,094,329

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $351,595 · end of year $486,220

• 2 · Savings and temporary cash investments

  beginning of year $3,001,694 · end of year $149,072

• 4 · Accounts receivable

  beginning of year $2,180,610 · end of year $2,064,295

• 7 · Other notes and loans receivable

  beginning of year $66,109 · end of year $65,692

• 8 · Inventories for sale or use

  beginning of year $1,137,496 · end of year $1,668,212

• 9 · Prepaid expenses and deferred charges

  beginning of year $104,024 · end of year $112,518

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

  $76,541,871

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

  $21,825,950

• 10c · Land, buildings and equipment, net

  beginning of year $52,776,354 · end of year $54,715,921

• 13 · Investments: program-related

  beginning of year $13,511,591 · end of year $13,739,149

• 14 · Intangible assets

  beginning of year $808 · end of year $808

• 15 · Other assets

  beginning of year $37,783 · end of year $62,674

• 17 · Accounts payable and accrued expenses

  beginning of year $2,775,439 · end of year $2,548,208

• 23 · Secured mortgages and notes payable

  beginning of year $32,990,969 · end of year $31,892,764

• 25 · Other liabilities

  beginning of year $2,143,083 · end of year $2,144,174

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

  beginning of year $8,129,207 · end of year $8,650,862

• 31 · Retained earnings, endowment or other funds

  beginning of year $27,129,366 · end of year $27,828,553

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.