Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE FROM MEMBERS

  total $88,811,419 · related or exempt $88,811,419

• 2b · Program service revenue: POLE CONTACT FEES

  total $354,036 · excluded $354,036

• 3 · Investment income

  total $1,611,712 · related or exempt $1,551,100 · excluded $60,612

• 6a · Gross rents

  real property $9,000 · personal property $28,880

• 6b · Less rental expenses

  real property $15,160 · personal property $55,268

• 6c · Rental income or loss

  real property -$6,160 · personal property -$26,388

• 6d · Net rental income or loss

  total -$32,548 · unrelated business -$32,548

• 7a · Gross sales of assets other than inventory

  other assets $1,543,044

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

  other assets $1,555,143

• 7c · Gain or loss

  other assets -$12,099

• 7d · Net gain or loss

  total -$12,099 · excluded -$12,099

• 10a · Gross sales of inventory

  $2,512

• 10b · Cost of goods sold

  $1,359

• 10c · Net income from sales of inventory

  total $1,153 · related or exempt $1,153

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $40,794

• 5 · Compensation of officers, directors and key employees

  total $1,160,944

• 7 · Other salaries and wages

  total $727,267

• 8 · Pension plan contributions

  total $153,314

• 9 · Other employee benefits

  total $84,097

• 12 · Advertising and promotion

  total $208,607

• 20 · Interest

  total $4,228,266

• 22 · Depreciation, depletion and amortization

  total $7,527,974

• 24a · Other expenses: COST OF POWER - PURCHAS

  total $29,458,364

• 24b · Other expenses: TRANSMISSIONS

  total $8,860,104

• 24c · Other expenses: DISTRIBUTION - MAINTENA

  total $8,765,812

• 24d · Other expenses: COST OF POWER - PRODUCE

  total $7,595,435

• 24e · All other expenses

  total $14,861,270

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,500 · end of year $2,500

• 2 · Savings and temporary cash investments

  beginning of year $1,105,030 · end of year $1,058,851

• 4 · Accounts receivable

  beginning of year $10,559,794 · end of year $11,262,550

• 8 · Inventories for sale or use

  beginning of year $5,341,299 · end of year $5,880,487

• 9 · Prepaid expenses and deferred charges

  beginning of year $321,782 · end of year $353,378

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

  $250,789,736

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

  $73,136,790

• 10c · Land, buildings and equipment, net

  beginning of year $171,341,372 · end of year $177,652,946

• 12 · Investments: other securities

  beginning of year $17,655,039 · end of year $18,907,573

• 15 · Other assets

  beginning of year $7,849,621 · end of year $8,133,145

• 17 · Accounts payable and accrued expenses

  beginning of year $12,821,577 · end of year $12,390,696

• 19 · Deferred revenue

  beginning of year $672,545 · end of year $685,046

• 23 · Secured mortgages and notes payable

  beginning of year $132,130,105 · end of year $135,621,309

• 25 · Other liabilities

  beginning of year $3,211,892 · end of year $2,805,744

• 29 · Capital stock, trust principal or current funds

  beginning of year $185,215 · end of year $193,130

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

  beginning of year $2,176,671 · end of year $2,071,740

• 31 · Retained earnings, endowment or other funds

  beginning of year $62,978,432 · end of year $69,483,765

The filer's explanations (Part III)

SCHEDULE J, PART I, QUESTION 4B

MICHAEL HEISE RECEIVED A $30,000 EMPLOYER CONTRIBUTION INTO HIS 457B ACCOUNT IN 2023.