Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $9,111,061 · related or exempt $9,111,061

• 2b · Program service revenue: CAPITAL CREDITS

  total $534,761 · related or exempt $534,761

• 3 · Investment income

  total $186,731 · excluded $186,731

• 7a · Gross sales of assets other than inventory

  other assets $5,036

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

  other assets $0

• 7c · Gain or loss

  other assets $5,036

• 7d · Net gain or loss

  total $5,036 · excluded $5,036

• 10a · Gross sales of inventory

  $210,354

• 10b · Cost of goods sold

  $206,939

• 10c · Net income from sales of inventory

  total $3,415 · related or exempt $3,415

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $7,051

• 4 · Benefits paid to or for members

  total $756,603

• 5 · Compensation of officers, directors and key employees

  total $382,382

• 7 · Other salaries and wages

  total $1,059,360

• 8 · Pension plan contributions

  total $261,640

• 10 · Payroll taxes

  total $99,825

• 20 · Interest

  total $685,530

• 22 · Depreciation, depletion and amortization

  total $1,059,237

• 24a · Other expenses: COST OF POWER

  total $5,090,454

• 24b · Other expenses: ADMIN & GENERAL

  total $856,730

• 24c · Other expenses: DISTRIBUTION-OPERATIONS

  total $672,017

• 24d · Other expenses: DISTRIBUTION-MAINTENANC

  total $209,520

• 24e · All other expenses

  total -$1,299,345

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $3,054,695 · end of year $171,842

• 4 · Accounts receivable

  beginning of year $845,059 · end of year $813,605

• 8 · Inventories for sale or use

  beginning of year $845,471 · end of year $1,245,060

• 9 · Prepaid expenses and deferred charges

  beginning of year $342,268 · end of year $332,142

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

  $45,753,528

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

  $12,048,038

• 10c · Land, buildings and equipment, net

  beginning of year $27,271,292 · end of year $33,705,490

• 12 · Investments: other securities

  beginning of year $1,361,055 · end of year $1,442,470

• 13 · Investments: program-related

  beginning of year $6,597,793 · end of year $6,917,993

• 15 · Other assets

  beginning of year $21,249 · end of year $5,585

• 17 · Accounts payable and accrued expenses

  beginning of year $2,198,397 · end of year $1,590,025

• 23 · Secured mortgages and notes payable

  beginning of year $19,011,412 · end of year $23,644,355

• 25 · Other liabilities

  beginning of year $1,686,062 · end of year $1,639,126

• 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 $17,443,011 · end of year $17,760,681

The filer's explanations (Part III)

EXPLANATION OF AMOUNT REPORTED IN PART II, COLUMN (C).

INCLUDED IN THE AMOUNT REPORTED IN COLUMN C IS $80,996 FOR THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR CHRISTOPHER LARSON. ACTUAL COOPERATIVE CONTRIBUTIONS TO THE PLAN WERE $35,215.