Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $12,937,538 · related or exempt $12,937,538

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $93,789 · related or exempt $93,789

• 2c · Program service revenue: SERVICE FEES

  total $69,032 · related or exempt $69,032

• 3 · Investment income

  total $51,476 · unrelated business $31,764 · excluded $19,712

• 7a · Gross sales of assets other than inventory

  other assets $40,287

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

  other assets $0

• 7c · Gain or loss

  other assets $40,287

• 7d · Net gain or loss

  total $40,287 · related or exempt $40,287

• 11a · Other revenue: EMPLOYEE RETENTION CREDIT

  total $362,509 · related or exempt $362,509

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $265,862 · excluded $265,862

• 11c · Other revenue: MISC. NON-OPERATING REVENUE

  total $18,083 · related or exempt $18,083

• 11e · Other revenue, total

  $646,454

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $224,435

• 5 · Compensation of officers, directors and key employees

  total $979,274

• 7 · Other salaries and wages

  total $1,299,798

• 8 · Pension plan contributions

  total $98,684

• 9 · Other employee benefits

  total $142,653

• 10 · Payroll taxes

  total $140,376

• 20 · Interest

  total $937,485

• 22 · Depreciation, depletion and amortization

  total $1,728,614

• 24a · Other expenses: PURCHASED POWER

  total $3,683,652

• 24b · Other expenses: ADMIN & GENERAL EXPENSE

  total $981,992

• 24c · Other expenses: DISTRIBUTION EXPENSE

  total $750,196

• 24d · Other expenses: TAXES

  total $612,693

• 24e · All other expenses

  total $180,303

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $567,699 · end of year $1,367,693

• 4 · Accounts receivable

  beginning of year $3,582,559 · end of year $3,046,131

• 8 · Inventories for sale or use

  beginning of year $1,034,327 · end of year $1,092,632

• 9 · Prepaid expenses and deferred charges

  beginning of year $90,174 · end of year $82,886

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

  $59,344,518

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

  $26,001,616

• 10c · Land, buildings and equipment, net

  beginning of year $32,542,141 · end of year $33,342,902

• 13 · Investments: program-related

  beginning of year $1,173,592 · end of year $589,503

• 15 · Other assets

  beginning of year $204,813 · end of year $212,351

• 17 · Accounts payable and accrued expenses

  beginning of year $1,299,308 · end of year $1,358,318

• 21 · Escrow or custodial account liability

  beginning of year $2,726

• 23 · Secured mortgages and notes payable

  beginning of year $22,752,747 · end of year $21,452,745

• 25 · Other liabilities

  beginning of year $694,761 · end of year $460,792

• 29 · Capital stock, trust principal or current funds

  beginning of year $23,290 · end of year $24,050

• 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 $14,422,473 · end of year $16,438,193

The filer's explanations (Part III)

PART I, LINE 1A

PURSUANT TO APPLICABLE TRAVEL POLICIES, THE COOPERATIVE WILL REIMBURSE THE CEO FOR THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL BUSINESS OF THE COOPERATIVE. STEVE WALTER'S SPOUSE ACCOMANIED HIM ON ONE TRIP DURING THE YEAR.

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. STEVE WALTER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 107,015 EMPLOYER CONTRIBUTION TO 457(B) DEFERRED COMP. PLAN 12,862 EMPLOYER CONTRIBUTION TO 401(K) PLAN 12,223 TOTAL REPORTED IN COLUMN C $ 132,100 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (107,015) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,589 EXPENSE TO THE COOPERATIVE $ 72,674 JUSTIN ISACKSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 13,742 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,473 TOTAL REPORTED IN COLUMN C $ 20,215 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (13,742) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,720 EXPENSE TO THE COOPERATIVE $ 32,193 NICK HIMEBAUCH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 24,168 EMPLOYER CONTRIBUTION TO 457(B) DEFERRED COMP. PLAN 8,779 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,349 TOTAL REPORTED IN COLUMN C $ 41,296 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (24,168) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,264 EXPENSE TO THE COOPERATIVE $ 51,392 KYE REFVEM: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,151 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,894 TOTAL REPORTED IN COLUMN C $ 13,045 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,151) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,496 EXPENSE TO THE COOPERATIVE $ 30,390 CHAD LOHREY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,867 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,036 TOTAL REPORTED IN COLUMN C $ 13,903 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,867) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,720 EXPENSE TO THE COOPERATIVE $ 31,756 BLAINE BARNARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,186 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,738 TOTAL REPORTED IN COLUMN C $ 11,924 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,186) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,496 EXPENSE TO THE COOPERATIVE $ 30,234 RORY WALTER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,451 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,755 TOTAL REPORTED IN COLUMN C $ 11,206 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,451) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,496 EXPENSE TO THE COOPERATIVE $ 30,251 KEVIN BURNS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,787 EMPLOYER CONTRIBUTION TO 457(B) DEFERRED COMP. PLAN 8,024 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,615 TOTAL REPORTED IN COLUMN C $ 25,426 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,787) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,457 EXPENSE TO THE COOPERATIVE $ 46,096

Related corporations and trusts

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

• TANNER WIND ENERGY INC

  C · WIND ENERGY PRODUCTION · WA · 100% owned · share of income $401,034 · share of assets $731,741 · controlled entity

  Directly controlled by TANNER ELECTRIC COOPERATIVE INC