Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $59,196,667 · related or exempt $59,196,667

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $3,383,903 · related or exempt $3,383,903

• 2c · Program service revenue: SERVICE FEES

  total $106,292 · related or exempt $106,292

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $10,021 · related or exempt $10,021

• 3 · Investment income

  total $1,059,893 · excluded $1,059,893

• 7a · Gross sales of assets other than inventory

  other assets $207,990

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

  other assets $0

• 7c · Gain or loss

  other assets $207,990

• 7d · Net gain or loss

  total $207,990 · related or exempt $207,990

• 10a · Gross sales of inventory

  $33,147

• 10b · Cost of goods sold

  $32,502

• 10c · Net income from sales of inventory

  total $645 · related or exempt $645

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $3,675 · excluded $3,675

• 11e · Other revenue, total

  $3,675

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $7,740

• 4 · Benefits paid to or for members

  total $12,700,790

• 5 · Compensation of officers, directors and key employees

  total $1,169,699

• 7 · Other salaries and wages

  total $1,647,112

• 8 · Pension plan contributions

  total $268,258

• 9 · Other employee benefits

  total $550,989

• 10 · Payroll taxes

  total $174,671

• 20 · Interest

  total $457,183

• 22 · Depreciation, depletion and amortization

  total $3,501,827

• 24a · Other expenses: PURCHASED POWER

  total $41,956,964

• 24b · Other expenses: ADMIN & GENERAL EXPENSE

  total $954,612

• 24c · Other expenses: DISTRIBUTION EXPENSE

  total $433,042

• 24d · Other expenses: CONSUMER EXPENSE

  total $129,452

• 24e · All other expenses

  total $16,747

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,098,528 · end of year $6,935,731

• 2 · Savings and temporary cash investments

  beginning of year $8,845,621 · end of year $12,516,597

• 4 · Accounts receivable

  beginning of year $5,597,171 · end of year $4,551,401

• 8 · Inventories for sale or use

  beginning of year $1,587,319 · end of year $1,203,165

• 9 · Prepaid expenses and deferred charges

  beginning of year $284,923 · end of year $275,051

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

  $121,635,944

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

  $32,396,236

• 10c · Land, buildings and equipment, net

  beginning of year $84,377,808 · end of year $89,239,708

• 12 · Investments: other securities

  beginning of year $5,660 · end of year $5,660

• 13 · Investments: program-related

  beginning of year $42,905,715 · end of year $45,102,294

• 15 · Other assets

  beginning of year $2,106,298 · end of year $2,034,161

• 17 · Accounts payable and accrued expenses

  beginning of year $6,341,053 · end of year $5,552,968

• 21 · Escrow or custodial account liability

  beginning of year $10,627 · end of year $20,126

• 23 · Secured mortgages and notes payable

  beginning of year $11,707,573 · end of year $10,106,004

• 25 · Other liabilities

  beginning of year $11,592,433 · end of year $15,977,218

• 29 · Capital stock, trust principal or current funds

  beginning of year $8,780 · end of year $8,785

• 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 $121,148,577 · end of year $130,198,667

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. GRACIELA SUBEALDEA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,432 EMPLOYER CONTRIBUTION TO 401(K) PLAN 20,692 TOTAL REPORTED IN COLUMN C $ 52,124 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (31,432) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 22,176 EXPENSE TO THE COOPERATIVE $ 42,868 TAMMY RINNE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,572 EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,762 TOTAL REPORTED IN COLUMN C $ 31,334 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,572) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,691 EXPENSE TO THE COOPERATIVE $ 29,453 SHAUN SCOFIELD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 15,332 EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,312 TOTAL REPORTED IN COLUMN C $ 26,644 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (15,332) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,948 EXPENSE TO THE COOPERATIVE $ 25,260 LARRY ARAGON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 23,917 EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,280 TOTAL REPORTED IN COLUMN C $ 35,197 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (23,917) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,691 EXPENSE TO THE COOPERATIVE $ 26,971 DAWN STEPHENS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,816 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,544 TOTAL REPORTED IN COLUMN C $ 40,360 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (29,816) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,529 EXPENSE TO THE COOPERATIVE $ 25,073 JOHN POPE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,333 EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,224 TOTAL REPORTED IN COLUMN C $ 33,557 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,333) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,401 EXPENSE TO THE COOPERATIVE $ 26,625 TRENT NEWMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,783 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,855 TOTAL REPORTED IN COLUMN C $ 17,638 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,783) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,657 EXPENSE TO THE COOPERATIVE $ 23,512 ERIK BADILLO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 8,427 EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,362 TOTAL REPORTED IN COLUMN C $ 19,789 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (8,427) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 15,255 EXPENSE TO THE COOPERATIVE $ 26,617 PRESTON MEAD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 4,886 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,879 TOTAL REPORTED IN COLUMN C $ 15,765 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (4,886) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,657 EXPENSE TO THE COOPERATIVE $ 24,536