Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $16,065,381 · related or exempt $16,065,381

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $625,754 · related or exempt $625,754

• 2c · Program service revenue: SERVICE FEES

  total $400 · related or exempt $400

• 3 · Investment income

  total $147,202 · excluded $147,202

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $24,854 · excluded $24,854

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

  total $18,183 · related or exempt $18,183

• 11e · Other revenue, total

  $43,037

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,543,139

• 5 · Compensation of officers, directors and key employees

  total $420,097

• 7 · Other salaries and wages

  total $955,450

• 8 · Pension plan contributions

  total $115,818

• 9 · Other employee benefits

  total $274,255

• 10 · Payroll taxes

  total $83,350

• 20 · Interest

  total $910,143

• 22 · Depreciation, depletion and amortization

  total $1,762,236

• 24a · Other expenses: PURCHASED POWER

  total $9,226,544

• 24b · Other expenses: ADMIN & GENERAL EXPENSE

  total $794,784

• 24c · Other expenses: DISTRIBUTION EXPENSE

  total $679,518

• 24d · Other expenses: CONSUMER EXPENSE

  total $474,609

• 24e · All other expenses

  total $10,831

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,850,634 · end of year $958,539

• 2 · Savings and temporary cash investments

  beginning of year $1,000,000 · end of year $3,000,000

• 4 · Accounts receivable

  beginning of year $775,991 · end of year $788,057

• 8 · Inventories for sale or use

  beginning of year $240,875 · end of year $233,697

• 9 · Prepaid expenses and deferred charges

  beginning of year $718,890 · end of year $686,644

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

  $64,407,191

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

  $25,483,274

• 10c · Land, buildings and equipment, net

  beginning of year $36,968,255 · end of year $38,923,917

• 12 · Investments: other securities

  beginning of year $400,000 · end of year $774,137

• 13 · Investments: program-related

  beginning of year $6,716,590 · end of year $7,315,500

• 15 · Other assets

  beginning of year $646,486 · end of year $516,067

• 17 · Accounts payable and accrued expenses

  beginning of year $1,015,264 · end of year $1,176,159

• 23 · Secured mortgages and notes payable

  beginning of year $28,826,598 · end of year $28,351,231

• 25 · Other liabilities

  beginning of year $1,981,386 · end of year $2,318,557

• 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 $20,494,473 · end of year $21,350,611

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. 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 CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. CHRISTOPHER MARTINEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 55,615 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,769 TOTAL REPORTED IN COLUMN C 63,384 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (55,615) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,897 EXPENSE TO THE COOPERATIVE $ 32,666 BRYAN JACKSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 37,870 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,764 TOTAL REPORTED IN COLUMN C 43,634 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (37,870) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,574 EXPENSE TO THE COOPERATIVE $ 24,338 RACHEL MARRUFO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 26,904 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,166 TOTAL REPORTED IN COLUMN C 33,070 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (26,904) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,762 EXPENSE TO THE COOPERATIVE $ 25,928 DANIEL LOPEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,123 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,365 TOTAL REPORTED IN COLUMN C 10,488 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,123) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,105 EXPENSE TO THE COOPERATIVE $ 22,470 PEDRO SANCHEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 2,767 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,013 TOTAL REPORTED IN COLUMN C 7,780 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (2,767) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,991 EXPENSE TO THE COOPERATIVE $ 21,004 GARRETT GREEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 2,150 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,983 TOTAL REPORTED IN COLUMN C 7,133 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (2,150) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,084 EXPENSE TO THE COOPERATIVE $ 20,067