Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $11,787,685 · related or exempt $11,787,685

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $326,208 · related or exempt $326,208

• 2c · Program service revenue: SERVICE FEES

  total $66,213 · related or exempt $66,213

• 2d · Program service revenue: POLE ATTACHMENT INCOME

  total $4,100 · excluded $4,100

• 3 · Investment income

  total $18,510 · excluded $18,510

• 6a · Gross rents

  personal property $4,100

• 6b · Less rental expenses

  personal property $0

• 6c · Rental income or loss

  personal property $4,100

• 6d · Net rental income or loss

  total $4,100 · unrelated business $4,100

• 10a · Gross sales of inventory

  $3,088

• 10b · Cost of goods sold

  $4,997

• 10c · Net income from sales of inventory

  total -$1,909 · related or exempt -$1,909

• 11a · Other revenue: HESTER WATER DIVISION

  total $141,045 · unrelated business $141,045

• 11b · Other revenue: WATER MANAGEMENT CONTRACT

  total $37,622 · unrelated business $37,622

• 11e · Other revenue, total

  $178,667

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $14,365

• 4 · Benefits paid to or for members

  total $716,816

• 5 · Compensation of officers, directors and key employees

  total $295,688

• 7 · Other salaries and wages

  total $1,083,098

• 8 · Pension plan contributions

  total $284,957

• 9 · Other employee benefits

  total $236,976

• 10 · Payroll taxes

  total $94,441

• 20 · Interest

  total $1,108,452

• 22 · Depreciation, depletion and amortization

  total $1,548,584

• 24a · Other expenses: PURCHASED POWER

  total $5,438,317

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $611,151

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $421,780

• 24d · Other expenses: OTHER DEDUCTIONS

  total $197,785

• 24e · All other expenses

  total $309,825

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $337,715 · end of year $566,334

• 2 · Savings and temporary cash investments

  beginning of year $52,318 · end of year $52,458

• 4 · Accounts receivable

  beginning of year $507,199 · end of year $670,769

• 7 · Other notes and loans receivable

  beginning of year $14,309 · end of year $7,096

• 8 · Inventories for sale or use

  beginning of year $667,784 · end of year $462,400

• 9 · Prepaid expenses and deferred charges

  beginning of year $5,092,418 · end of year $4,871,324

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

  $44,639,829

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

  $16,765,529

• 10c · Land, buildings and equipment, net

  beginning of year $27,679,506 · end of year $27,874,300

• 13 · Investments: program-related

  beginning of year $4,592,095 · end of year $4,873,245

• 15 · Other assets

  beginning of year $463,177 · end of year $484,515

• 17 · Accounts payable and accrued expenses

  beginning of year $668,416 · end of year $524,665

• 23 · Secured mortgages and notes payable

  beginning of year $25,716,052 · end of year $26,554,319

• 25 · Other liabilities

  beginning of year $2,840,048 · end of year $1,863,435

• 29 · Capital stock, trust principal or current funds

  beginning of year $7,870 · end of year $7,735

• 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 $10,174,135 · end of year $10,912,287

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 (NRECA RS PLAN). THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. 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. AARON PAXTON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 27,135 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,958 TOTAL REPORTED IN COLUMN C $ 29,093 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (27,135) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 59,352 EXPENSE TO THE COOPERATIVE $ 61,310 TOMMY CASWELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 67,940 EMPLOYER CONTRIBUTION TO 401(K) PLAN 985 TOTAL REPORTED IN COLUMN C $ 68,925 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (67,940) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,832 EXPENSE TO THE COOPERATIVE $ 30,817 LISA A RICHARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 70,293 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,218 TOTAL REPORTED IN COLUMN C $ 71,511 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (70,293) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 36,900 EXPENSE TO THE COOPERATIVE $ 38,118 MONTY WORTHEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 48,812 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,345 TOTAL REPORTED IN COLUMN C $ 50,157 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (48,812) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 40,740 EXPENSE TO THE COOPERATIVE $ 42,085 DOUGLAS BYNUM: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 41,034 EMPLOYER CONTRIBUTION TO 401(K) PLAN 992 TOTAL REPORTED IN COLUMN C $ 42,026 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (41,034) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,060 EXPENSE TO THE COOPERATIVE $ 31,052 ALEXANDER VELASQUEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,130 EMPLOYER CONTRIBUTION TO 401(K) PLAN 979 TOTAL REPORTED IN COLUMN C $ 20,109 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (19,130) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,676 EXPENSE TO THE COOPERATIVE $ 30,655