Form 990 for tax year 2023

2a · Program service revenue: POWER SALES

total $254,212,311 · related or exempt $254,212,311

3 · Investment income

total $1,618,004 · excluded $1,618,004

7a · Gross sales of assets other than inventory

securities $1,619,905

7b · Less cost or other basis and sales expenses

securities $1,438,120

7c · Gain or loss

securities $181,785

7d · Net gain or loss

total $181,785 · excluded $181,785

5 · Compensation of officers, directors and key employees

total $1,804,161

7 · Other salaries and wages

total $1,440,019

8 · Pension plan contributions

total $464,261

9 · Other employee benefits

total $344,752

10 · Payroll taxes

total $215,679

11b · Fees: legal

total $373,872

11c · Fees: accounting

total $72,588

11d · Fees: lobbying

total $22,500

11g · Fees: other

total $1,119,030

13 · Office expenses

total $288,119

14 · Information technology

total $288,144

16 · Occupancy

total $186,519

19 · Conferences, conventions and meetings

total $212,876

20 · Interest

total $14,528

22 · Depreciation, depletion and amortization

total $606,168

23 · Insurance

total $232,773

24a · Other expenses: PURCHASED POWER

total $209,400,374

24b · Other expenses: TRANSMISSION EXPENSE

total $34,771,845

24c · Other expenses: OPG EXPENSES

total $1,671,579

24d · Other expenses: ASSOCIATION DUES

total $397,474

24e · All other expenses

total $94

1 · Cash, non-interest-bearing

beginning of year $27,453 · end of year $182,398

2 · Savings and temporary cash investments

beginning of year $10,926,885 · end of year $15,613,775

4 · Accounts receivable

beginning of year $13,274,000 · end of year $15,977,493

8 · Inventories for sale or use

beginning of year $31,334 · end of year $21,743

9 · Prepaid expenses and deferred charges

beginning of year $360,546 · end of year $301,103

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

$11,607,365

10b · Land, buildings and equipment: accumulated depreciation

$5,545,626

10c · Land, buildings and equipment, net

beginning of year $6,656,165 · end of year $6,061,739

12 · Investments: other securities

beginning of year $19,194,279 · end of year $20,403,945

13 · Investments: program-related

beginning of year $82,774 · end of year $74,199

14 · Intangible assets

beginning of year $10,000 · end of year $10,000

15 · Other assets

beginning of year $661,652 · end of year $607,526

17 · Accounts payable and accrued expenses

beginning of year $15,545,896 · end of year $20,155,852

23 · Secured mortgages and notes payable

beginning of year $78,125 · end of year $0

25 · Other liabilities

beginning of year $9,343,337 · end of year $8,783,454

29 · Capital stock, trust principal or current funds

beginning of year $202,753 · end of year $241,209

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 $26,054,977 · end of year $30,073,406