Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $11,341,774 · related or exempt $11,341,774

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $511,014 · related or exempt $511,014

• 2c · Program service revenue: SERVICE FEES

  total $48,038 · related or exempt $48,038

• 2d · Program service revenue: POLE ATTACHMENT INCOME

  total $2,672 · excluded $2,672

• 3 · Investment income

  total $67,236 · excluded $67,236

• 6a · Gross rents

  personal property $4,154

• 6b · Less rental expenses

  personal property $0

• 6c · Rental income or loss

  personal property $4,154

• 6d · Net rental income or loss

  total $4,154 · unrelated business $4,154

• 10a · Gross sales of inventory

  $8,800

• 10b · Cost of goods sold

  $9,382

• 10c · Net income from sales of inventory

  total -$582 · related or exempt -$582

• 11a · Other revenue: HESTER WATER DIVISION

  total $130,722 · unrelated business $130,722

• 11b · Other revenue: WATER MANAGEMENT CONTRACT

  total $29,576 · unrelated business $29,576

• 11e · Other revenue, total

  $160,298

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $15,842

• 4 · Benefits paid to or for members

  total $979,235

• 5 · Compensation of officers, directors and key employees

  total $283,294

• 7 · Other salaries and wages

  total $1,002,442

• 8 · Pension plan contributions

  total $282,130

• 9 · Other employee benefits

  total $218,035

• 10 · Payroll taxes

  total $86,681

• 20 · Interest

  total $1,066,927

• 22 · Depreciation, depletion and amortization

  total $1,496,055

• 24a · Other expenses: PURCHASED POWER

  total $5,349,680

• 24b · Other expenses: ADMIN & GENERAL EXPENSE

  total $484,845

• 24c · Other expenses: DISTRIBUTION EXPENSE

  total $408,343

• 24d · Other expenses: OTHER DEDUCTIONS

  total $196,700

• 24e · All other expenses

  total $259,925

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $254,726 · end of year $337,715

• 2 · Savings and temporary cash investments

  beginning of year $2,062,839 · end of year $52,318

• 4 · Accounts receivable

  beginning of year $586,599 · end of year $507,199

• 7 · Other notes and loans receivable

  beginning of year $28,310 · end of year $14,309

• 8 · Inventories for sale or use

  beginning of year $405,343 · end of year $667,784

• 9 · Prepaid expenses and deferred charges

  beginning of year $5,326,588 · end of year $5,092,418

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

  $43,130,622

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

  $15,451,116

• 10c · Land, buildings and equipment, net

  beginning of year $26,637,936 · end of year $27,679,506

• 13 · Investments: program-related

  beginning of year $4,154,802 · end of year $4,592,095

• 15 · Other assets

  beginning of year $458,704 · end of year $463,177

• 17 · Accounts payable and accrued expenses

  beginning of year $588,652 · end of year $668,416

• 23 · Secured mortgages and notes payable

  beginning of year $26,759,038 · end of year $25,716,052

• 25 · Other liabilities

  beginning of year $3,369,791 · end of year $2,840,048

• 29 · Capital stock, trust principal or current funds

  beginning of year $7,935 · end of year $7,870

• 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 $9,190,431 · end of year $10,174,135

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 (NRECA RS PLAN). THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. 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. AARON PAXTON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 27,121 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,880 TOTAL REPORTED IN COLUMN C $ 29,001 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (27,121) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 60,816 EXPENSE TO THE COOPERATIVE $ 62,696 TOMMY CASWELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 61,884 EMPLOYER CONTRIBUTION TO 401(K) PLAN 928 TOTAL REPORTED IN COLUMN C $ 62,812 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (61,884) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,725 EXPENSE TO THE COOPERATIVE $ 30,653 LISA A RICHARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 62,773 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,147 TOTAL REPORTED IN COLUMN C $ 63,920 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (62,773) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 36,712 EXPENSE TO THE COOPERATIVE $ 37,859 MONTY WORTHEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 46,584 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,275 TOTAL REPORTED IN COLUMN C $ 47,859 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (46,584) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 40,981 EXPENSE TO THE COOPERATIVE $ 42,256 BRADLEY WHISENANT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 46,445 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,025 TOTAL REPORTED IN COLUMN C $ 47,470 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (46,445) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,788 EXPENSE TO THE COOPERATIVE $ 33,813 ALEXANDER VELASQUEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,821 EMPLOYER CONTRIBUTION TO 401(K) PLAN 924 TOTAL REPORTED IN COLUMN C $ 18,745 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,821) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,592 EXPENSE TO THE COOPERATIVE $ 30,516