Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC ENERGY

  total $243,520,151 · related or exempt $243,520,151

• 2b · Program service revenue: PATRONAGE CAPITAL - G&T

  total $3,176,314 · related or exempt $3,176,314

• 2c · Program service revenue: PATRONAGE CAPITAL - OTHER

  total $1,831,261 · related or exempt $1,831,261

• 3 · Investment income

  total $152,115 · excluded $152,115

• 11a · Other revenue: QUALIFIED POLE RENTAL

  total $645,554 · related or exempt $645,554

• 11e · Other revenue, total

  $645,554

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,640,281

• 5 · Compensation of officers, directors and key employees

  total $2,456,335

• 6 · Compensation of disqualified persons

  total $37,440

• 20 · Interest

  total $9,002,079

• 22 · Depreciation, depletion and amortization

  total $21,805,843

• 24a · Other expenses: COST OF PURCHASED POWER

  total $158,237,411

• 24b · Other expenses: MAINTENANCE - DIST EXP

  total $16,718,790

• 24c · Other expenses: ADMIN & GENERAL

  total $8,197,345

• 24d · Other expenses: CONSUMER ACCOUNTS

  total $7,256,943

• 24e · All other expenses

  total $10,890,426

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,609,416 · end of year $5,618,566

• 2 · Savings and temporary cash investments

  beginning of year $2,156,741 · end of year $2,360,231

• 4 · Accounts receivable

  beginning of year $20,100,563 · end of year $28,250,319

• 8 · Inventories for sale or use

  beginning of year $386,799 · end of year $317,475

• 9 · Prepaid expenses and deferred charges

  beginning of year $24,777,889 · end of year $23,473,494

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

  $663,171,270

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

  $234,783,230

• 10c · Land, buildings and equipment, net

  beginning of year $393,628,241 · end of year $428,388,040

• 13 · Investments: program-related

  beginning of year $74,898,387 · end of year $78,624,281

• 17 · Accounts payable and accrued expenses

  beginning of year $28,894,148 · end of year $38,732,595

• 21 · Escrow or custodial account liability

  beginning of year $1,750,269 · end of year $1,724,104

• 23 · Secured mortgages and notes payable

  beginning of year $277,587,904 · end of year $302,562,373

• 25 · Other liabilities

  beginning of year $11,181,689 · end of year $7,038,780

• 31 · Retained earnings, endowment or other funds

  beginning of year $202,144,026 · end of year $216,974,554

The filer's explanations (Part III)

SCHEDULE J, PART III

PART II, COLUMN C. INCLUDED IN THIS AMOUNT ARE THE EMPLOYER CONTRIBUTIONS TO THE DEFINED CONTRIBUTION PLAN (401K) AND THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER THE NRECA R&S DEFINED BENEFIT PLAN. THE CHANGE IN ACTUAL VALUE FOR EACH INDIVIDUAL PARTICIPANT IS BASED ON ACTUARIAL DATA AND ASSUMPTIONS. THE AMOUNTS IN COLUMN C ARE FURTHER EXPLAINED AS FOLLOWS. DOUGLAS TURK - 18,300 401K, 134,801 ACTUARIAL INCREASE KEITH STAPLES - 13,875 401K, 99,451 ACTUARIAL INCREASE WALTER STAPLETON - 13,884 401K, 0 ACTUARIAL INCREASE JOSEPH CONNER - 12,942 401K, 34,583 ACTUARIAL INCREASE RYAN BROWN - 13,485 401K, 38,029 ACTUARIAL INCREASE SCOTT FERGUSON - 9,651 401K, 119,955 ACTUARIAL INCREASE RICKY HARRELL - 9,496 401K, 100,036 ACTUARIAL INCREASE TERRY LOWE - 5,555 401K, 31,681 ACTUARIAL INCREASE ROBERT LANTRIP - 5,212 401K, 52,234 ACTUARIAL INCREASE CRAIG BARLOW - 5,183 401K, 47,644 ACTUARIAL INCREASE RACHEL FREY - 7,368 401K, 16,580 ACTUARIAL INCREASE