Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 3 · Investment income

  total $17,764 · excluded $17,764

• 6a · Gross rents

  real property $64,936

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $64,936

• 6d · Net rental income or loss

  total $64,936 · related or exempt $64,936

• 7a · Gross sales of assets other than inventory

  other assets $67,893

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

  other assets $0

• 7c · Gain or loss

  other assets $67,893

• 7d · Net gain or loss

  total $67,893 · excluded $67,893

• 10a · Gross sales of inventory

  $20,930,154

• 10b · Cost of goods sold

  $15,071,289

• 10c · Net income from sales of inventory

  total $5,858,865 · related or exempt $5,858,865

• 11a · Other revenue: GENERATION & TRANSMISSION COOP

  total $697,914 · excluded $697,914

• 11b · Other revenue: OTHER CAPITAL CREDITS

  total $34,544 · excluded $34,544

• 11c · Other revenue: MISC NONOPERATING INCOME

  total $4,859 · related or exempt $4,859

• 11e · Other revenue, total

  $737,317

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $3,525

• 4 · Benefits paid to or for members

  total $1,254,664

• 5 · Compensation of officers, directors and key employees

  total $671,638

• 7 · Other salaries and wages

  total $1,017,144

• 8 · Pension plan contributions

  total $272,968

• 9 · Other employee benefits

  total $16,059

• 10 · Payroll taxes

  total $341,789

• 11b · Fees: legal

  total $23,954

• 11c · Fees: accounting

  total $23,300

• 11g · Fees: other

  total $71,494

• 12 · Advertising and promotion

  total $180,810

• 13 · Office expenses

  total $18,244

• 14 · Information technology

  total $249

• 16 · Occupancy

  total $109,616

• 18 · Travel or entertainment for public officials

  total $60,008

• 20 · Interest

  total $702,510

• 22 · Depreciation, depletion and amortization

  total $1,325,259

• 24a · Other expenses: KWH TAX EXPENSE

  total $406,532

• 24b · Other expenses: MISC GENERAL EXPENSE

  total $124,250

• 24c · Other expenses: DUES AND SUBSCRIPTIONS

  total $122,762

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,203,702 · end of year $327,490

• 4 · Accounts receivable

  beginning of year $1,901,686 · end of year $2,040,118

• 8 · Inventories for sale or use

  beginning of year $214,457 · end of year $282,433

• 9 · Prepaid expenses and deferred charges

  beginning of year $35,087 · end of year $23,955

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

  $40,352,040

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

  $11,802,209

• 10c · Land, buildings and equipment, net

  beginning of year $28,619,451 · end of year $28,549,831

• 12 · Investments: other securities

  beginning of year $9,702,830 · end of year $9,722,628

• 14 · Intangible assets

  beginning of year $303,742 · end of year $292,871

• 15 · Other assets

  beginning of year $1,188,506 · end of year $2,299,217

• 17 · Accounts payable and accrued expenses

  beginning of year $2,742,581 · end of year $2,863,691

• 23 · Secured mortgages and notes payable

  beginning of year $18,401,636 · end of year $17,442,730

• 25 · Other liabilities

  beginning of year $10,533 · end of year $530,175

• 29 · Capital stock, trust principal or current funds

  beginning of year $22,014,711 · end of year $22,701,947

• 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 $0 · end of year $0

The filer's explanations (Part III)

PART I, LINE 3

AS PART OF THE ANNUAL BUDGET PROCESS, NRECA PREPARES AN INDUSTRY WAGE/SALARY STUDY. THIS IS REVIEWED BY MANAGEMENT AND THE GOVERNING BODY PRIOR TO THE FINAL BUDGET BEING APPROVED AND BEFORE ANY PROPOSED WAGE ADJUSTMENTS. THIS PROCESS APPLIES TO TOP MANAGEMENT OFFICIALS, OTHER OFFICERS, AND EMPLOYEES.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• QMS INC

  INACTIVE, HVAC CONTRACTOR · OH