Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $35,287,674 · related or exempt $35,287,674

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $1,414,915 · related or exempt $1,414,915

• 2c · Program service revenue: SERVICE & OTHER FEES

  total $168,663 · related or exempt $168,663

• 3 · Investment income

  total $264,955 · excluded $264,955

• 6a · Gross rents

  real property $77,584 · personal property $1,560

• 6b · Less rental expenses

  real property $0 · personal property $1,000

• 6c · Rental income or loss

  real property $77,584 · personal property $560

• 6d · Net rental income or loss

  total $78,144 · related or exempt $77,584 · unrelated business $560

• 7a · Gross sales of assets other than inventory

  other assets $67,872

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

  other assets $0

• 7c · Gain or loss

  other assets $67,872

• 7d · Net gain or loss

  total $67,872 · related or exempt $67,872

• 10a · Gross sales of inventory

  $2,661

• 10b · Cost of goods sold

  $3,115

• 10c · Net income from sales of inventory

  total -$454 · related or exempt -$454

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $244,656 · excluded $244,656

• 11e · Other revenue, total

  $244,656

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $21,297

• 4 · Benefits paid to or for members

  total $3,859,908

• 5 · Compensation of officers, directors and key employees

  total $711,723

• 7 · Other salaries and wages

  total $2,905,719

• 8 · Pension plan contributions

  total $471,138

• 9 · Other employee benefits

  total $549,358

• 10 · Payroll taxes

  total $205,381

• 20 · Interest

  total $2,599,049

• 22 · Depreciation, depletion and amortization

  total $4,597,427

• 24a · Other expenses: PURCHASED POWER

  total $16,660,897

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $2,464,337

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,671,407

• 24d · Other expenses: CONSUMER EXPENSES

  total $761,311

• 24e · All other expenses

  total $101,041

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $317,422 · end of year $222,260

• 2 · Savings and temporary cash investments

  beginning of year $4,065,203 · end of year $4,187,903

• 4 · Accounts receivable

  beginning of year $1,539,537 · end of year $1,933,464

• 8 · Inventories for sale or use

  beginning of year $1,964,831 · end of year $2,166,038

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,665,013 · end of year $1,596,078

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

  $155,362,012

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

  $53,383,734

• 10c · Land, buildings and equipment, net

  beginning of year $98,306,164 · end of year $101,978,278

• 13 · Investments: program-related

  beginning of year $15,126,390 · end of year $16,357,357

• 15 · Other assets

  beginning of year $3,289,130 · end of year $3,342,650

• 17 · Accounts payable and accrued expenses

  beginning of year $3,828,017 · end of year $4,497,635

• 23 · Secured mortgages and notes payable

  beginning of year $74,324,609 · end of year $76,425,518

• 25 · Other liabilities

  beginning of year $6,589,394 · end of year $7,811,001

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 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 $41,531,670 · end of year $43,049,874

The filer's explanations (Part III)

PART I, LINE 1A

TRAVEL FOR COMPANIONS - THE COOPERATIVE MAY, LIMITED TO ONCE ANNUALLY, REIMBURSE TRUSTEES AND THE GENERAL MANAGER THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL, APPROVED, BUSINESS OF THE COOPERATIVE. REIMBURSABLE COSTS INCLUDE TRAVEL AND MEAL ALLOWANCES. SINCE THE COOPERATIVE CONSIDERS THE REIMBURSEMENT TO BE CONSISTENT TO A BONA FIDE BUSINESS PURPOSE, SUCH REIMBURSEMENTS ARE TREATED AS EXPENSES EXCLUDED FROM REPORTABLE COMPENSATION. DURING THE YEAR, NO INDIVIDUALS REPORTED ON FORM 990, PART VII RECEIVED THIS BENEFIT. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES - THE COOPERATIVE PAYS A PORTION OF GYM MEMBERSHIPS FOR EMPLOYEES AND THEIR SPOUSES.

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. 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 CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. MARIO ROMERO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 45,918 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,528 TOTAL REPORTED IN COLUMN C $ 55,446 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (45,918) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 53,881 EXPENSE TO THE COOPERATIVE $ 63,409 SABEN LESSENTINE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 39,568 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,297 TOTAL REPORTED IN COLUMN C $ 44,865 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (39,568) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,189 EXPENSE TO THE COOPERATIVE $ 35,486 DELBERT LUCERO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,975 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,759 TOTAL REPORTED IN COLUMN C $ 17,734 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,975) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,239 EXPENSE TO THE COOPERATIVE $ 37,998 JULIA WALKER-GRINDER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,765 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,068 TOTAL REPORTED IN COLUMN C $ 23,833 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,765) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,453 EXPENSE TO THE COOPERATIVE $ 40,521 LANCE WRIGHT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 34,499 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,671 TOTAL REPORTED IN COLUMN C $ 38,170 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (34,499) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,820 EXPENSE TO THE COOPERATIVE $ 24,491 MARK MARTIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ (0) EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,152 TOTAL REPORTED IN COLUMN C $ 5,152 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (0) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,358 EXPENSE TO THE COOPERATIVE $ 34,510 MATTHEW CHAVEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,220 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,873 TOTAL REPORTED IN COLUMN C $ 13,093 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,220) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,971 EXPENSE TO THE COOPERATIVE $ 25,844