Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $4,485,846 · related or exempt $4,485,846

• 2b · Program service revenue: SALES OF NATURAL GAS

  total $783,930 · related or exempt $783,930

• 2c · Program service revenue: PATRONAGE DIVIDENDS

  total $112,665 · related or exempt $112,665

• 2d · Program service revenue: SERVICE FEES

  total $104,393 · related or exempt $104,393

• 3 · Investment income

  total $170,308 · excluded $170,308

• 7a · Gross sales of assets other than inventory

  securities $7,021

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

  securities $2,264

• 7c · Gain or loss

  securities $4,757

• 7d · Net gain or loss

  total $4,757 · related or exempt $4,757

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $30,131 · excluded $30,131

• 11e · Other revenue, total

  $30,131

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $439,452

• 7 · Other salaries and wages

  total $658,017

• 8 · Pension plan contributions

  total $75,110

• 9 · Other employee benefits

  total $111,037

• 10 · Payroll taxes

  total $51,787

• 20 · Interest

  total $49,373

• 22 · Depreciation, depletion and amortization

  total $400,893

• 24a · Other expenses: PURCHASED POWER

  total $3,101,440

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $436,533

• 24c · Other expenses: CONSUMER ACCOUNTS

  total $231,163

• 24d · Other expenses: ADMINISTRATIVE & GENERA

  total $3,366

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $31,897 · end of year $158,608

• 2 · Savings and temporary cash investments

  beginning of year $1,877,343 · end of year $1,438,141

• 4 · Accounts receivable

  beginning of year $336,376 · end of year $552,639

• 7 · Other notes and loans receivable

  beginning of year $5,102 · end of year $1,976

• 8 · Inventories for sale or use

  beginning of year $224,183 · end of year $251,409

• 9 · Prepaid expenses and deferred charges

  beginning of year $274,527 · end of year $398,135

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

  $13,334,379

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

  $7,611,469

• 10c · Land, buildings and equipment, net

  beginning of year $5,760,211 · end of year $5,722,910

• 11 · Investments: publicly traded securities

  end of year $0

• 12 · Investments: other securities

  end of year $0

• 13 · Investments: program-related

  beginning of year $3,079,612 · end of year $3,174,048

• 15 · Other assets

  beginning of year $114,921 · end of year $114,739

• 17 · Accounts payable and accrued expenses

  beginning of year $532,207 · end of year $586,298

• 23 · Secured mortgages and notes payable

  beginning of year $1,204,999 · end of year $1,394,013

• 25 · Other liabilities

  beginning of year $467,817 · end of year $430,471

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 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 $9,499,149 · end of year $9,401,823

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, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. 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. STEVEN LUNT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 92,594 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,978 TOTAL REPORTED IN COLUMN C $101,572 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (92,594) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,000 EXPENSE TO THE COOPERATIVE $ 41,580 MICHAEL STRAIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 60,375 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,692 TOTAL REPORTED IN COLUMN C $ 67,067 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (60,375) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN -0- EXPENSE TO THE COOPERATIVE $ 6,692

Related corporations and trusts

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

• AZNEX COOPERATIVE SERVICES INC

  C · INACTIVE · AZ · 100% owned · controlled entity

  Directly controlled by DUNCAN VALLEY ELECTRIC COOPERATIVE INC