Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $67,525,216 · related or exempt $67,525,216

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $4,823,020 · related or exempt $4,823,020

• 2c · Program service revenue: BROADBAND ACCESS

  total $2,525,135 · related or exempt $2,035,514 · unrelated business $489,621

• 2d · Program service revenue: SERVICE FEES

  total $576,703 · related or exempt $576,703

• 3 · Investment income

  total $94,308 · excluded $94,308

• 6a · Gross rents

  real property $600

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $600

• 6d · Net rental income or loss

  total $600 · excluded $600

• 7a · Gross sales of assets other than inventory

  other assets $12,734

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

  other assets $581

• 7c · Gain or loss

  other assets $12,153

• 7d · Net gain or loss

  total $12,153 · related or exempt $12,153

• 10a · Gross sales of inventory

  $4,068

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $4,068 · related or exempt $4,068

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $304,406 · excluded $304,406

• 11b · Other revenue: MISC. NON OPERATING INCOME

  total $28,937 · related or exempt $28,937

• 11e · Other revenue, total

  $333,343

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,800

• 4 · Benefits paid to or for members

  total $7,938,237

• 5 · Compensation of officers, directors and key employees

  total $689,725

• 7 · Other salaries and wages

  total $4,146,146

• 8 · Pension plan contributions

  total $554,780

• 9 · Other employee benefits

  total $980,100

• 10 · Payroll taxes

  total $333,720

• 20 · Interest

  total $2,092,829

• 22 · Depreciation, depletion and amortization

  total $5,377,008

• 24a · Other expenses: PURCHASED POWER

  total $48,345,442

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $2,781,540

• 24c · Other expenses: ADMINISTRATIVE AND GENE

  total $1,185,847

• 24d · Other expenses: BROADBAND EXPENSES

  total $957,706

• 24e · All other expenses

  total $841,350

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,336,665 · end of year $2,227,872

• 2 · Savings and temporary cash investments

  end of year $170,000

• 4 · Accounts receivable

  beginning of year $4,071,751 · end of year $3,615,063

• 8 · Inventories for sale or use

  beginning of year $3,039,767 · end of year $3,225,064

• 9 · Prepaid expenses and deferred charges

  beginning of year $529,275 · end of year $388,241

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

  $153,906,739

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

  $51,873,172

• 10c · Land, buildings and equipment, net

  beginning of year $97,813,577 · end of year $102,033,567

• 13 · Investments: program-related

  beginning of year $49,348,770 · end of year $53,994,769

• 15 · Other assets

  beginning of year $1,923,152 · end of year $1,651,253

• 17 · Accounts payable and accrued expenses

  beginning of year $6,474,018 · end of year $5,608,104

• 21 · Escrow or custodial account liability

  end of year $154,629

• 23 · Secured mortgages and notes payable

  beginning of year $61,505,948 · end of year $63,376,828

• 25 · Other liabilities

  beginning of year $3,191,416 · end of year $3,451,352

• 29 · Capital stock, trust principal or current funds

  beginning of year $87,230 · end of year $88,395

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

  beginning of year $86,926,173 · end of year $93,059,848

• 31 · Retained earnings, endowment or other funds

  beginning of year $878,172 · end of year $1,566,673

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. BLAINE WARZECHA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 37,173 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,997 TOTAL REPORTED IN COLUMN C $ 52,170 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (37,173) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,655 EXPENSE TO THE COOPERATIVE $ 49,652 LADDY BROWN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,463 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,641 TOTAL REPORTED IN COLUMN C $ 38,104 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (30,463) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,728 EXPENSE TO THE COOPERATIVE $ 25,369 DAVID NERADA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,172 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,165 TOTAL REPORTED IN COLUMN C $ 25,337 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,172) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,819 EXPENSE TO THE COOPERATIVE $ 22,984 JESSICA GRAY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,952 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,867 TOTAL REPORTED IN COLUMN C $ 20,819 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,952) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,658 EXPENSE TO THE COOPERATIVE $ 29,525 ESIQUIO YBARRA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 18,049 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,001 TOTAL REPORTED IN COLUMN C $ 25,050 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (18,049) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,661 EXPENSE TO THE COOPERATIVE $ 20,662 RICHARD VARELA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,633 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,501 TOTAL REPORTED IN COLUMN C $ 18,134 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,633) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 11,323 EXPENSE TO THE COOPERATIVE $ 14,824 ADAM ESTRADA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,923 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 5,923 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,923) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,233 EXPENSE TO THE COOPERATIVE $ 17,233