Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE

  total $81,026,192 · related or exempt $81,026,192

• 2b · Program service revenue: POLE RENTAL

  total $1,210,866 · excluded $1,210,866

• 2c · Program service revenue: OTHER CAPITAL CREDITS

  total $565,820 · related or exempt $565,820

• 3 · Investment income

  total $325,866 · excluded $325,866

• 11a · Other revenue: GAIN ON DISPOSITION

  total $12,500 · related or exempt $12,500

• 11b · Other revenue: OTHER

  total $3,792 · related or exempt $3,792

• 11e · Other revenue, total

  $16,292

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,854,176

• 5 · Compensation of officers, directors and key employees

  total $835,232

• 13 · Office expenses

  total $962,346

• 20 · Interest

  total $3,573,006

• 22 · Depreciation, depletion and amortization

  total $6,875,182

• 24a · Other expenses: PURCHASED POWER

  total $48,785,203

• 24b · Other expenses: DISTRIBUTION MAINTENANCE

  total $9,229,613

• 24c · Other expenses: DISTRIBUTION OPERATIONS

  total $4,656,352

• 24d · Other expenses: CONSUMER ACCOUNTS

  total $3,016,758

• 24e · All other expenses

  total $3,357,168

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,301,546 · end of year $1,944,146

• 4 · Accounts receivable

  beginning of year $8,514,563 · end of year $9,605,983

• 8 · Inventories for sale or use

  beginning of year $2,277,769 · end of year $3,025,134

• 9 · Prepaid expenses and deferred charges

  beginning of year $258,667 · end of year $1,276,242

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

  $235,693,079

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

  $61,570,754

• 10c · Land, buildings and equipment, net

  beginning of year $158,364,347 · end of year $174,122,325

• 13 · Investments: program-related

  beginning of year $5,380,217 · end of year $7,182,213

• 15 · Other assets

  beginning of year $13,112 · end of year $23,866,889

• 17 · Accounts payable and accrued expenses

  beginning of year $13,062,880 · end of year $32,881,756

• 23 · Secured mortgages and notes payable

  beginning of year $87,190,059 · end of year $109,151,674

• 25 · Other liabilities

  beginning of year $12,611,673 · end of year $13,808,455

• 29 · Capital stock, trust principal or current funds

  beginning of year $458,852 · end of year $454,917

• 31 · Retained earnings, endowment or other funds

  beginning of year $62,786,757 · end of year $64,726,130

The filer's explanations (Part III)

SCHEDULE J, PAGE 1, PART I, LINE 4

OPHELIA MCCAIN 0 5,400 0

SCHEDULE J, PART III

THE CORPORATION HAS TWO DEFERRED COMPENSATION PLANS UNDER IRC SECTION 457 (B). ONE PLAN IS FOR SELECT MEMBERS OF MANAGEMENT AND THE SECOND PLAN IS FOR DIRECTORS. BOTH PLANS CONSIST ONLY OF ELECTED DEFERRALS BY THE PARTICIPANT AND DO NOT INCLUDE ANY CORPORATE CONTRIBUTIONS. NONQUALIFIED DEFERRED COMPENSATION PLAN - MANAGEMENT: SELECT MEMBERS OF MANAGEMENT MAY DEFER COMPENSATION UNDER AN IRC SECTION 457(B) PLAN. IN THE YEAR OF DEFERRAL, THESE AMOUNTS ARE REPORTED ON PART VII AND SCHEDULE J AS A COMPONENT OF BASE COMPENSATION. DISTRIBUTION AMOUNTS ARE GENERALLY PRESENTED ON SCHEDULE J, COLUMN F AS COMPENSATION THAT HAS PREVIOUSLY BEEN REPORTED ON A PRIOR YEAR FORM 990. THERE WERE NO DISTRIBUTIONS FROM THIS PLAN FOR THE TAX YEAR. NONQUALIFIED DEFERRED COMPENSATION PLAN - DIRECTORS: DIRECTORS MAY DEFER COMPENSATION UNDER AN IRC SECTION 457(B) PLAN. IN THE YEAR OF DEFERRAL, THESE AMOUNTS ARE REPORTED ON PART VII, COLUMN F, AS THEY ARE NOT INCLUDED IN THE DIRECTOR'S 1099-NEC AMOUNT. IN THE YEAR OF DISTRIBUTION, THE DISTRIBUTION AMOUNT IS REPORTED ON A 1099-NEC AND INCLUDED IN PART VII, COLUMN D AS THE AMOUNT IS TAXABLE TO THE PARTICIPANT IN THE YEAR OF DISTRIBUTION. OPHELIA MCCAIN RECEIVED A DISTRIBUTION OF 5,400 FROM HER 457(B) ACCOUNT DURING THE TAX YEAR.