Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRICITY SALES

  total $108,620,197 · related or exempt $108,620,197

• 2b · Program service revenue: ELECTRICITY WHEELING

  total $2,014,134 · related or exempt $2,014,134

• 2c · Program service revenue: PATRONAGE DIVIDENDS

  total $805,707 · related or exempt $805,707

• 2d · Program service revenue: SERVICE FEES

  total $139,444 · related or exempt $139,444

• 3 · Investment income

  total $94,747 · excluded $94,747

• 6a · Gross rents

  real property $157,266 · personal property $876,856

• 6b · Less rental expenses

  real property $25,013 · personal property $0

• 6c · Rental income or loss

  real property $132,253 · personal property $876,856

• 6d · Net rental income or loss

  total $1,009,109 · unrelated business $132,253 · excluded $876,856

• 10a · Gross sales of inventory

  $74,147

• 10b · Cost of goods sold

  $48,011

• 10c · Net income from sales of inventory

  total $26,136 · related or exempt $26,136

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $30,990

• 4 · Benefits paid to or for members

  total $5,267,293

• 5 · Compensation of officers, directors and key employees

  total $2,640,304

• 7 · Other salaries and wages

  total $8,779,222

• 8 · Pension plan contributions

  total $1,383,919

• 9 · Other employee benefits

  total $1,068,201

• 10 · Payroll taxes

  total $762,147

• 20 · Interest

  total $6,502,364

• 22 · Depreciation, depletion and amortization

  total $8,673,834

• 24a · Other expenses: PURCHASED POWER

  total $61,893,893

• 24b · Other expenses: ADMINISTRATIVE & GENERA

  total $5,142,815

• 24c · Other expenses: DISTRIBUTION EXPENSE

  total $4,484,321

• 24d · Other expenses: TRANSMISSION EXPENSE

  total $2,373,670

• 24e · All other expenses

  total $3,706,501

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,283,131 · end of year $2,392,869

• 4 · Accounts receivable

  beginning of year $9,266,462 · end of year $11,135,032

• 8 · Inventories for sale or use

  beginning of year $6,083,182 · end of year $7,126,181

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,234,788 · end of year $1,111,936

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

  $271,675,846

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

  $56,364,806

• 10c · Land, buildings and equipment, net

  beginning of year $204,328,936 · end of year $215,311,040

• 13 · Investments: program-related

  beginning of year $7,883,506 · end of year $7,972,487

• 15 · Other assets

  beginning of year $357,805 · end of year $175,538

• 17 · Accounts payable and accrued expenses

  beginning of year $6,278,246 · end of year $7,361,543

• 23 · Secured mortgages and notes payable

  beginning of year $132,897,379 · end of year $140,809,250

• 25 · Other liabilities

  beginning of year $10,446,228 · end of year $11,838,189

• 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 $2,748,403 · end of year $3,259,965

• 31 · Retained earnings, endowment or other funds

  beginning of year $78,067,554 · end of year $81,956,136

The filer's explanations (Part III)

FORM 990, SCHEDULE J, 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.