Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $18,614,891 · related or exempt $18,614,891

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $688,526 · related or exempt $688,526

• 2c · Program service revenue: SERVICE FEES

  total $69,253 · related or exempt $69,253

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $4,969 · related or exempt $4,969

• 3 · Investment income

  total $234,431 · excluded $234,431

• 10a · Gross sales of inventory

  $8,359

• 10b · Cost of goods sold

  $7,025

• 10c · Net income from sales of inventory

  total $1,334 · related or exempt $1,434 · unrelated business -$100

• 11a · Other revenue: JOINT POLE RENTAL

  total $7,899 · excluded $7,899

• 11b · Other revenue: POWER SUPPLY REVENUE

  total $2,050 · related or exempt $2,050

• 11e · Other revenue, total

  $9,949

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $3,699

• 4 · Benefits paid to or for members

  total $1,201,049

• 5 · Compensation of officers, directors and key employees

  total $529,941

• 7 · Other salaries and wages

  total $1,728,032

• 8 · Pension plan contributions

  total $407,731

• 9 · Other employee benefits

  total $282,804

• 10 · Payroll taxes

  total $147,235

• 20 · Interest

  total $1,055,855

• 22 · Depreciation, depletion and amortization

  total $2,310,917

• 24a · Other expenses: PURCHASED POWER

  total $9,628,953

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $1,379,397

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $534,593

• 24d · Other expenses: CONSUMER EXPENSE

  total $277,653

• 24e · All other expenses

  total $95,788

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $155,035 · end of year $201,273

• 2 · Savings and temporary cash investments

  beginning of year $935,847 · end of year $1,111,016

• 4 · Accounts receivable

  beginning of year $2,128,467 · end of year $1,589,132

• 7 · Other notes and loans receivable

  beginning of year $420,867 · end of year $372,040

• 8 · Inventories for sale or use

  beginning of year $1,102,297 · end of year $2,638,446

• 9 · Prepaid expenses and deferred charges

  beginning of year $638,725 · end of year $711,174

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

  $76,881,788

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

  $29,758,429

• 10c · Land, buildings and equipment, net

  beginning of year $44,550,136 · end of year $47,123,359

• 11 · Investments: publicly traded securities

  beginning of year $5,289,543 · end of year $5,871,640

• 13 · Investments: program-related

  beginning of year $5,872,712 · end of year $6,534,658

• 15 · Other assets

  beginning of year $2,769,318 · end of year $3,348,291

• 17 · Accounts payable and accrued expenses

  beginning of year $2,160,565 · end of year $2,331,311

• 23 · Secured mortgages and notes payable

  beginning of year $37,328,449 · end of year $40,321,818

• 25 · Other liabilities

  beginning of year $3,723,767 · end of year $4,509,324

• 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 $20,650,166 · end of year $22,338,576

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. ERIC SEGOVIA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 12,977 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,188 TOTAL REPORTED IN COLUMN C $ 15,165 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (12,977) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,234 EXPENSE TO THE COOPERATIVE $ 40,422

Related corporations and trusts

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

• ESTACADO ENERGY SERVICES INC

  C · ELECTRICIAN SERVICES · NM · 100% owned · share of assets $7,260 · controlled entity

  Directly controlled by ROOSEVELT COUNTY ELECTRIC COOPERATIVE INC