Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $105,769,835 · related or exempt $105,769,835

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $6,044,920 · related or exempt $6,044,920

• 2c · Program service revenue: SERVICE FEES

  total $732,551 · related or exempt $732,551

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $104,339 · related or exempt $104,339

• 2e · Program service revenue: LEASE INCOME FROM LCRA

  total $4,750 · related or exempt $4,750

• 3 · Investment income

  total $149,639 · excluded $149,639

• 7a · Gross sales of assets other than inventory

  other assets $47,359

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

  other assets $3,355

• 7c · Gain or loss

  other assets $44,004

• 7d · Net gain or loss

  total $44,004 · related or exempt $44,004

• 10a · Gross sales of inventory

  $420,901

• 10b · Cost of goods sold

  $312,801

• 10c · Net income from sales of inventory

  total $108,100 · related or exempt $87,743 · unrelated business $20,357

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $52,468 · excluded $52,468

• 11e · Other revenue, total

  $52,468

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $77,399

• 4 · Benefits paid to or for members

  total $10,943,812

• 5 · Compensation of officers, directors and key employees

  total $1,537,527

• 7 · Other salaries and wages

  total $4,929,223

• 8 · Pension plan contributions

  total $738,766

• 9 · Other employee benefits

  total $874,217

• 10 · Payroll taxes

  total $374,417

• 20 · Interest

  total $5,567,436

• 22 · Depreciation, depletion and amortization

  total $8,190,255

• 24a · Other expenses: PURCHASED POWER

  total $70,930,757

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $5,716,742

• 24c · Other expenses: CONSUMER EXPENSE

  total $1,472,244

• 24d · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,055,112

• 24e · All other expenses

  total $511,078

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $700,272 · end of year $1,005,378

• 4 · Accounts receivable

  beginning of year $4,219,942 · end of year $3,968,438

• 7 · Other notes and loans receivable

  beginning of year $29,108 · end of year $13,857

• 8 · Inventories for sale or use

  beginning of year $4,757,894 · end of year $5,807,691

• 9 · Prepaid expenses and deferred charges

  beginning of year $60,722,388 · end of year $55,794,647

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

  $270,583,769

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

  $86,500,368

• 10c · Land, buildings and equipment, net

  beginning of year $172,792,923 · end of year $184,083,401

• 13 · Investments: program-related

  beginning of year $35,591,811 · end of year $41,255,810

• 15 · Other assets

  beginning of year $1,469,330 · end of year $1,573,497

• 17 · Accounts payable and accrued expenses

  beginning of year $8,778,513 · end of year $9,780,106

• 21 · Escrow or custodial account liability

  beginning of year $19,460 · end of year $137,774

• 23 · Secured mortgages and notes payable

  beginning of year $142,057,373 · end of year $140,686,832

• 25 · Other liabilities

  beginning of year $12,332,259 · end of year $16,631,101

• 29 · Capital stock, trust principal or current funds

  beginning of year $47,075 · end of year $45,755

• 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 $117,048,988 · end of year $126,221,151

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. MICHAEL ABLES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 176,774 EMPLOYER CONTRIBUTION TO 401(K) PLAN 15,457 TOTAL REPORTED IN COLUMN C $ 192,231 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (176,774) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 56,024 EXPENSE TO THE COOPERATIVE $ 71,481 JAMES JOUETT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 85,092 EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,705 TOTAL REPORTED IN COLUMN C $ 96,797 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (85,092) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 45,979 EXPENSE TO THE COOPERATIVE $ 57,684 JARED JANICEK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 51,980 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,500 TOTAL REPORTED IN COLUMN C $ 62,480 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (51,980) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 37,429 EXPENSE TO THE COOPERATIVE $ 47,929 JOHN SPIESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 85,957 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,760 TOTAL REPORTED IN COLUMN C $ 94,717 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (85,957 ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,200 EXPENSE TO THE COOPERATIVE $ 41,960 ROBERT HROMADKA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 71,304 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,928 TOTAL REPORTED IN COLUMN C $ 78,232 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (71,304) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,797 EXPENSE TO THE COOPERATIVE $ 33,725 JAMES PHILLIPS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 43,716 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,761 TOTAL REPORTED IN COLUMN C $ 49,477 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (43,716) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,913 EXPENSE TO THE COOPERATIVE $ 27,674 SHAWN BARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 40,259 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,436 TOTAL REPORTED IN COLUMN C $ 49,695 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (40,259) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 36,668 EXPENSE TO THE COOPERATIVE $ 46,104 WILLIAM PESCHEL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 32,012 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,817 TOTAL REPORTED IN COLUMN C $ 39,829 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (32,012) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,267 EXPENSE TO THE COOPERATIVE $ 38,084 ROBERT PINA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 44,149 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,566 TOTAL REPORTED IN COLUMN C $ 49,715 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (44,149) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,154 EXPENSE TO THE COOPERATIVE $ 26,720