Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE

  total $232,236,705 · related or exempt $232,236,705

• 2b · Program service revenue: POLE RENTAL AND ACCESS

  total $2,461,366 · excluded $2,461,366

• 2c · Program service revenue: OTHER CAPITAL CREDITS

  total $2,245,828 · related or exempt $2,245,828

• 2d · Program service revenue: G & T CAPITAL CREDITS

  total $981,567 · related or exempt $981,567

• 3 · Investment income

  total $2,080,374 · excluded $2,080,374

• 7a · Gross sales of assets other than inventory

  other assets $1,910,396

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

  other assets $409,471

• 7c · Gain or loss

  other assets $1,500,925

• 7d · Net gain or loss

  total $1,500,925 · related or exempt $1,500,925

• 11a · Other revenue: ARPA GRANT FUNDS

  total $7,381,924 · unrelated business $7,381,924

• 11b · Other revenue: OTHER COMP OF NPBC

  total $1,161,545 · related or exempt $1,161,545

• 11c · Other revenue: RENTAL INCOME

  total $6,000 · related or exempt $6,000

• 11d · All other revenue

  total $2,409 · related or exempt $2,409

• 11e · Other revenue, total

  $8,551,878

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $11,263,168

• 5 · Compensation of officers, directors and key employees

  total $751,074

• 20 · Interest

  total $8,418,882

• 22 · Depreciation, depletion and amortization

  total $16,904,171

• 24a · Other expenses: PURCHASED POWER

  total $163,180,842

• 24b · Other expenses: DISTRIBUTION MAINTENANCE

  total $11,264,829

• 24c · Other expenses: ADMIN. & GENERAL EXP.

  total $10,000,299

• 24d · Other expenses: DISTRIBUTION OPERATIONS

  total $8,753,675

• 24e · All other expenses

  total $19,521,703

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,594,257 · end of year $11,178,357

• 2 · Savings and temporary cash investments

  beginning of year $38,153,613 · end of year $28,269,333

• 4 · Accounts receivable

  beginning of year $26,962,512 · end of year $29,175,154

• 8 · Inventories for sale or use

  beginning of year $17,312,031 · end of year $19,051,806

• 9 · Prepaid expenses and deferred charges

  beginning of year $2,806,065 · end of year $22,566,971

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

  $544,026,983

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

  $203,956,519

• 10c · Land, buildings and equipment, net

  beginning of year $316,252,585 · end of year $340,070,464

• 13 · Investments: program-related

  beginning of year $26,358,317 · end of year $29,353,708

• 15 · Other assets

  beginning of year $7,161,561 · end of year $4,337,808

• 17 · Accounts payable and accrued expenses

  beginning of year $29,849,089 · end of year $29,806,902

• 20 · Tax-exempt bond liabilities

  beginning of year $233,150,551 · end of year $267,854,857

• 25 · Other liabilities

  beginning of year $20,971,377 · end of year $25,005,885

• 29 · Capital stock, trust principal or current funds

  beginning of year $946,320 · end of year $977,622

• 31 · Retained earnings, endowment or other funds

  beginning of year $154,683,604 · end of year $160,358,335

The filer's explanations (Part III)

SCHEDULE J, PART III

EXECUTIVE BENEFIT RESTORATION PLAN (EBR PLAN) THE CORPORATION HAS ESTABLISHED AN EXECUTIVE BENEFIT RESTORATION PLAN (EBR PLAN) UNDER IRC 457(F) FOR KEY MANAGEMENT AND HIGHLY COMPENSATED EMPLOYEES WHOSE BENEFITS UNDER THE CORPORATION'S MULTI-EMPLOYER PENSION PLAN (RS PLAN) ARE RESTRICTED BECAUSE OF MAXIMUM LIMITS ON BENEFITS OR COMPENSATION THAT MAY BE PROVIDED BY THE RS PLAN. JEREMY NELMS WAS THE SOLE PARTICIPANT IN THE EBR PLAN AS OF DECEMBER 31, 2023. THE ACTUARIALLY DETERMINED "SERVICE COST" COMPONENT OF CURRENT YEAR NET PERIODIC BENEFIT COST HAS BEEN INCLUDED IN COLUMN (C) OF MR. NELMS COMPENSATION BREAKDOWN IN SCHEDULE J.