Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $8,110,063 · related or exempt $8,110,063

• 2b · Program service revenue: MISC SERVICE REVENUE

  total $211,553 · related or exempt $211,553

• 3 · Investment income

  total $46,166 · excluded $46,166

• 6a · Gross rents

  real property $104,681

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $104,681

• 6d · Net rental income or loss

  total $104,681 · excluded $104,681

• 7a · Gross sales of assets other than inventory

  other assets $72,139

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

  other assets $87,152

• 7c · Gain or loss

  other assets -$15,013

• 7d · Net gain or loss

  total -$15,013 · excluded -$15,013

• 11a · Other revenue: MISCELLANEOUS

  total $237,638 · excluded $237,638

• 11e · Other revenue, total

  $237,638

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $440,562

• 7 · Other salaries and wages

  total $136,899

• 9 · Other employee benefits

  total $132,910

• 11g · Fees: other

  total $52,352

• 12 · Advertising and promotion

  total $89,075

• 13 · Office expenses

  total $63,587

• 16 · Occupancy

  total $74,572

• 19 · Conferences, conventions and meetings

  total $34,369

• 22 · Depreciation, depletion and amortization

  total $546,668

• 23 · Insurance

  total $63,550

• 24a · Other expenses: PURCHASED POWER

  total $3,997,110

• 24b · Other expenses: DISTRIBUTION SYSTEM REP

  total $1,575,114

• 24c · Other expenses: MEMBER RECORDS AND COLL

  total $372,558

• 24d · Other expenses: MAINTENANCE OF GENERAL

  total $209,978

• 24e · All other expenses

  total $448,226

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,326,948 · end of year $3,596,833

• 2 · Savings and temporary cash investments

  beginning of year $3,846,939 · end of year $4,109,017

• 4 · Accounts receivable

  beginning of year $1,392,018 · end of year $1,677,067

• 8 · Inventories for sale or use

  beginning of year $887,745 · end of year $1,439,225

• 9 · Prepaid expenses and deferred charges

  beginning of year $791,723 · end of year $488,354

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

  $18,876,590

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

  $7,857,490

• 10c · Land, buildings and equipment, net

  beginning of year $10,718,200 · end of year $11,019,100

• 12 · Investments: other securities

  beginning of year $212,037 · end of year $206,415

• 17 · Accounts payable and accrued expenses

  beginning of year $1,099,180 · end of year $1,576,940

• 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 $20,076,430 · end of year $20,959,071

The filer's explanations (Part III)

FORM 990. SCHEDULE J, PART II (C)

THE COMPANY PARTICIPATES IN THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION (NRECA) RETIREMENT SECURITY PLAN (RS PLAN), A DEFINED BENEFIT PENSION PLAN QUALIFIED UNDER SECTION 401 AND TAX-EXEMPT UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. THE PLAN IS FULLY FUNDED AND VESTING IS 10% PER YEAR FOR FIRST 4 YEARS, WITH 100% VESTING AT BEGINNING OF 5TH YEAR OR AGE 55, WHICHEVER COMES FIRST. BENEFITS FROM EMPLOYEE CONTRIBUTIONS ARE FULLY VESTED. THE AMOUNTS REPORTED ARE DEFERRED COMPENSATION BENEFITS EARNED, BUT NOT PAID.