Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Energy Sales

  total $31,981,728 · related or exempt $31,981,728

• 2b · Program service revenue: Patronage Capital Credits

  total $432,337 · related or exempt $432,337

• 2c · Program service revenue: Other Electric Revenue

  total $120,143 · related or exempt $120,143

• 3 · Investment income

  total $106,168 · related or exempt $106,168

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $2,914,193 · program services $2,914,193

• 5 · Compensation of officers, directors and key employees

  total $431,598 · program services $431,598

• 20 · Interest

  total $45,233 · program services $45,233

• 22 · Depreciation, depletion and amortization

  total $1,864,997 · program services $1,864,997

• 24a · Other expenses: Cost of Energy

  total $19,044,656 · program services $19,044,656

• 24b · Other expenses: Distribution Expense-Ma

  total $3,161,445 · program services $3,161,445

• 24c · Other expenses: Administrative and Gene

  total $1,989,168 · program services $1,989,168

• 24d · Other expenses: Distribution Expense-Op

  total $883,990 · program services $883,990

• 24e · All other expenses

  total $972,103 · program services $972,103

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,098,222 · end of year $1,656,295

• 2 · Savings and temporary cash investments

  beginning of year $2,906,588 · end of year $1,961,884

• 4 · Accounts receivable

  beginning of year $3,186,690 · end of year $3,569,629

• 8 · Inventories for sale or use

  beginning of year $1,194,079 · end of year $1,723,383

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,702,809 · end of year $241,281

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

  $56,121,026

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

  $25,360,418

• 10c · Land, buildings and equipment, net

  beginning of year $28,641,469 · end of year $30,760,608

• 13 · Investments: program-related

  beginning of year $17,824,479 · end of year $17,779,614

• 17 · Accounts payable and accrued expenses

  beginning of year $2,989,729 · end of year $2,759,120

• 23 · Secured mortgages and notes payable

  beginning of year $1,578,129 · end of year $1,617,509

• 25 · Other liabilities

  beginning of year $2,082,544 · end of year $2,075,833

• 29 · Capital stock, trust principal or current funds

  beginning of year $206,675 · end of year $209,980

• 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 $49,697,259 · end of year $51,030,252

The filer's explanations (Part III)

Part I, Line 3

Compensation of the General Manager is done by comparing the salaries of like-sized Electric Cooperatives in similar financial and physical condition, neighboring investor owned utilities and other comparative data. The Board of Directors approve the compensation package annually.