Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $38,811,949 · related or exempt $38,811,949

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $482,837 · related or exempt $482,837

• 2c · Program service revenue: SERVICE FEES

  total $230,729 · related or exempt $230,729

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $68,802 · related or exempt $68,802

• 3 · Investment income

  total $99,691 · excluded $99,691

• 6a · Gross rents

  personal property $318

• 6b · Less rental expenses

  personal property $0

• 6c · Rental income or loss

  personal property $318

• 6d · Net rental income or loss

  total $318 · related or exempt $318

• 10a · Gross sales of inventory

  $32,369

• 10b · Cost of goods sold

  $11,774

• 10c · Net income from sales of inventory

  total $20,595 · related or exempt $20,595

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $4,646 · excluded $4,646

• 11e · Other revenue, total

  $4,646

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $17,752

• 5 · Compensation of officers, directors and key employees

  total $603,215

• 7 · Other salaries and wages

  total $2,314,649

• 8 · Pension plan contributions

  total $274,769

• 9 · Other employee benefits

  total $670,601

• 10 · Payroll taxes

  total $201,136

• 20 · Interest

  total $3,595,328

• 22 · Depreciation, depletion and amortization

  total $3,646,177

• 24a · Other expenses: PURCHASED POWER

  total $23,643,683

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $4,646,927

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,270,424

• 24d · Other expenses: CONSUMER EXPENSE

  total $367,049

• 24e · All other expenses

  total $10,629

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $309,167 · end of year $1,213,448

• 4 · Accounts receivable

  beginning of year $2,891,788 · end of year $3,065,941

• 8 · Inventories for sale or use

  beginning of year $3,201,327 · end of year $2,688,319

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,957,613 · end of year $1,699,914

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

  $134,764,667

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

  $30,049,627

• 10c · Land, buildings and equipment, net

  beginning of year $93,973,343 · end of year $104,715,040

• 13 · Investments: program-related

  beginning of year $3,825,822 · end of year $3,984,939

• 15 · Other assets

  beginning of year $999,529 · end of year $858,060

• 17 · Accounts payable and accrued expenses

  beginning of year $6,116,532 · end of year $4,222,993

• 21 · Escrow or custodial account liability

  beginning of year $169,790 · end of year $388,448

• 23 · Secured mortgages and notes payable

  beginning of year $58,181,136 · end of year $72,506,083

• 25 · Other liabilities

  beginning of year $6,495,289 · end of year $5,926,443

• 29 · Capital stock, trust principal or current funds

  beginning of year $247,090 · end of year $255,855

• 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 $36,948,752 · end of year $34,925,839

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. LARRY J. SULAK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 51,276 TOTAL REPORTED IN COLUMN C 51,276 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (51,276) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,644 EXPENSE TO THE COOPERATIVE $ 18,644 LINDA GADDES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 26,298 TOTAL REPORTED IN COLUMN C 26,298 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (26,298) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,284 EXPENSE TO THE COOPERATIVE $ 19,284 LEO W. WICK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,925 TOTAL REPORTED IN COLUMN C 20,925 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,925) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,399 EXPENSE TO THE COOPERATIVE $ 15,399 GARY DON NIETSCHE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 34,279 TOTAL REPORTED IN COLUMN C 34,279 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (34,279) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 16,739 EXPENSE TO THE COOPERATIVE $ 16,739 ROBERT J. THOMAS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,658 TOTAL REPORTED IN COLUMN C 36,658 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (36,658) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 16,646 EXPENSE TO THE COOPERATIVE $ 16,646 BRANDON L. PIEPER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,655 TOTAL REPORTED IN COLUMN C 16,655 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,655) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,095 EXPENSE TO THE COOPERATIVE $ 14,095