Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1e · Government grants (contributions)

  $420,294

• 2a · Program service revenue: SALE & DIST. OF ELECTRIC

  total $41,072,181 · related or exempt $41,072,181

• 2b · Program service revenue: CONT IN AID OF CONST

  total $2,228,668 · related or exempt $2,228,668

• 2c · Program service revenue: CASH PATRONAGE RECEIVED

  total $43,732 · related or exempt $43,732

• 3 · Investment income

  total $77,217 · excluded $77,217

• 6a · Gross rents

  real property $14,600 · personal property $404,830

• 6c · Rental income or loss

  real property $14,600 · personal property $404,830

• 6d · Net rental income or loss

  total $419,430 · related or exempt $14,600 · unrelated business $65,050 · excluded $339,780

• 7a · Gross sales of assets other than inventory

  other assets $72,943

• 7c · Gain or loss

  other assets $72,943

• 7d · Net gain or loss

  total $72,943 · excluded $72,943

• 11a · Other revenue: MERCHANDISING

  total $5,561 · related or exempt $5,561

• 11e · Other revenue, total

  $5,561

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $2,329,052

• 5 · Compensation of officers, directors and key employees

  total $1,025,685

• 7 · Other salaries and wages

  total $5,014,752

• 8 · Pension plan contributions

  total $1,039,958

• 9 · Other employee benefits

  total $31,555

• 10 · Payroll taxes

  total $447,057

• 11b · Fees: legal

  total $92,378

• 17 · Travel

  total $1,117,486

• 19 · Conferences, conventions and meetings

  total $350,856

• 20 · Interest

  total $1,501,914

• 22 · Depreciation, depletion and amortization

  total $4,454,683

• 24a · Other expenses: COST OF POWER

  total $22,591,977

• 24b · Other expenses: DISTRIBUTION MAINTENANCE

  total $3,254,615

• 24c · Other expenses: DISTRIBUTION OPERATION

  total $1,178,303

• 24d · Other expenses: GENERAL AND ADMINISTRATIO

  total $863,452

• 24e · All other expenses

  total -$3,119,131

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,212,420 · end of year $1,742,947

• 2 · Savings and temporary cash investments

  end of year $2,012,222

• 4 · Accounts receivable

  beginning of year $6,601,760 · end of year $7,962,490

• 8 · Inventories for sale or use

  beginning of year $1,985,949 · end of year $2,603,752

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,624,835 · end of year $3,595,687

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

  $131,999,967

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

  $59,286,409

• 10c · Land, buildings and equipment, net

  beginning of year $72,196,866 · end of year $72,713,558

• 12 · Investments: other securities

  beginning of year $200,000 · end of year $200,000

• 13 · Investments: program-related

  beginning of year $17,447,307 · end of year $17,789,257

• 15 · Other assets

  beginning of year $8,104 · end of year $9,547

• 17 · Accounts payable and accrued expenses

  beginning of year $2,267,208 · end of year $3,460,754

• 23 · Secured mortgages and notes payable

  beginning of year $46,325,173 · end of year $49,621,268

• 25 · Other liabilities

  beginning of year $4,457,417 · end of year $4,236,299

• 31 · Retained earnings, endowment or other funds

  beginning of year $49,227,443 · end of year $51,311,139

The filer's explanations (Part III)

SCHEDULE J, PART III

CERTAIN INDIVIDUALS PARTICIPATE IN A EXECUTIVE BENEFIT RESTORATION PLAN (EBR), AS A RESULT OF HAVING BENEFITS UNDER THE QUALIFIED PENSION PLAN RESTRICTED BECAUSE OF MAXIMUM LIMITS ON BENEFITS THAT MAY BE PROVIDED UNDER THE QUALIFIED PENSION PLAN. THE EBR IS SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE PRIOR TO PARTICIPANTS REACHING NORMAL RETIREMENT DATE AND OTHER RESTRICTIONS AS DEFINED IN THE EBR PLAN DOCUMENT. PARTICIPANTS IN THE PLAN DO NOT RECEIVE THE FUNDS SET ASIDE IN THE EBR PLAN UNLESS THEY WORK UNTIL THE NORMAL RETIREMENT AGE. IF THEY LEAVE PRIOR TO THE RETIREMENT AGE THE COOPERATIVE RETAINS 100% OF THE FUNDS. 990 REPORTING RULES REQUIRES AMOUNTS ACCRUED BUT NOT YET VESTED OR RECEIVED, TO BE INCLUDED ON SCHEDULE J PART II, COLUMN C. THE FOLLOWING INDIVIDUALS HAD AMOUNTS ACCRUED UNDER THIS PLAN DURING 2022: BRADLEY H. HICKS 50,000