Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $14,299,089 · related or exempt $14,299,089

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $62,894 · related or exempt $62,894

• 2c · Program service revenue: SERVICE FEES

  total $542 · related or exempt $542

• 3 · Investment income

  total $71,540 · excluded $71,540

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $28,275 · excluded $28,275

• 11e · Other revenue, total

  $28,275

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $420,453

• 5 · Compensation of officers, directors and key employees

  total $429,933

• 7 · Other salaries and wages

  total $819,991

• 8 · Pension plan contributions

  total $59,721

• 9 · Other employee benefits

  total $288,991

• 10 · Payroll taxes

  total $71,325

• 20 · Interest

  total $821,980

• 22 · Depreciation, depletion and amortization

  total $1,646,113

• 24a · Other expenses: PURCHASED POWER

  total $8,023,769

• 24b · Other expenses: ADMIN & GENERAL EXPENSE

  total $818,023

• 24c · Other expenses: DISTRIBUTION EXPENSE

  total $578,423

• 24d · Other expenses: CONSUMER EXPENSE

  total $470,320

• 24e · All other expenses

  total $13,298

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,918,923 · end of year $5,500,202

• 2 · Savings and temporary cash investments

  beginning of year $1,500,000 · end of year $2,000,000

• 4 · Accounts receivable

  beginning of year $608,263 · end of year $696,600

• 8 · Inventories for sale or use

  beginning of year $178,469 · end of year $158,082

• 9 · Prepaid expenses and deferred charges

  beginning of year $604,690 · end of year $616,630

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

  $59,087,465

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

  $22,983,232

• 10c · Land, buildings and equipment, net

  beginning of year $36,291,458 · end of year $36,104,233

• 13 · Investments: program-related

  beginning of year $6,599,965 · end of year $6,630,110

• 15 · Other assets

  beginning of year $589,252 · end of year $613,470

• 17 · Accounts payable and accrued expenses

  beginning of year $893,790 · end of year $778,527

• 23 · Secured mortgages and notes payable

  beginning of year $28,688,887 · end of year $30,040,652

• 25 · Other liabilities

  beginning of year $1,692,070 · end of year $1,469,800

• 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 $20,016,273 · end of year $20,030,348

The filer's explanations (Part III)

PART I, LINE 1A

HEALTH CLUB DUES: THE COOPERATIVE PAYS HEALTH CLUB DUES AFTER THE FIRST $50. THIS IS PART OF THE COOPERATIVE'S WELLNESS PROGRAM AND IS COMPLETELY VOLUNTARY. THE COOPERATIVE WILL PAY FOR EMPLOYEES, BOARD MEMBERS, AND THEIR DEPENDENTS. NO INDIVIDUALS REPORTED ON PAGE 7, PART VII RECEIVED THIS BENEFIT DURING THE YEAR.

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. CHRISTOPHER MARTINEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 68,270 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,194 TOTAL REPORTED IN COLUMN C 75,464 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (68,270) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,924 EXPENSE TO THE COOPERATIVE $ 38,118 BRYAN JACKSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 37,528 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,055 TOTAL REPORTED IN COLUMN C 42,583 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (37,528) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,249 EXPENSE TO THE COOPERATIVE $ 26,304 RACHEL MARRUFO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,936 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,710 TOTAL REPORTED IN COLUMN C 42,646 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (36,936) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,547 EXPENSE TO THE COOPERATIVE $ 30,257 DANIEL LOPEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,430 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,623 TOTAL REPORTED IN COLUMN C 16,053 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,430) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,733 EXPENSE TO THE COOPERATIVE $ 23,356