Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC SALES

  total $16,508,795 · related or exempt $16,508,795

• 2b · Program service revenue: CAPITAL CREDIT

  total $603,018 · related or exempt $603,018

• 2c · Program service revenue: OTHER SALES

  total $33,526 · related or exempt $33,526

• 3 · Investment income

  total $321,501 · excluded $321,501

• 10a · Gross sales of inventory

  $69,999

• 10b · Cost of goods sold

  $121,764

• 10c · Net income from sales of inventory

  total -$51,765 · related or exempt -$51,765

• 11a · Other revenue: EQUITY EARNINGS

  total $54,541 · unrelated business $54,541

• 11e · Other revenue, total

  $54,541

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $2,953

• 4 · Benefits paid to or for members

  total $2,219,576

• 5 · Compensation of officers, directors and key employees

  total $566,119

• 20 · Interest

  total $663,875

• 22 · Depreciation, depletion and amortization

  total $1,426,939

• 24a · Other expenses: UBI TAX EXPENSE

  total $1,439

• 24b · Other expenses: COST OF POWER

  total $9,836,305

• 24c · Other expenses: DISTRIBUTION-MAINTENANC

  total $998,098

• 24d · Other expenses: ADMINISTRATIVE AND GENE

  total $795,143

• 24e · All other expenses

  total $790,368

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $6,896,989 · end of year $7,459,646

• 4 · Accounts receivable

  beginning of year $1,243,101 · end of year $1,653,201

• 8 · Inventories for sale or use

  beginning of year $1,053,442 · end of year $1,197,729

• 9 · Prepaid expenses and deferred charges

  beginning of year $54,383 · end of year $40,288

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

  $46,717,689

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

  $18,235,047

• 10c · Land, buildings and equipment, net

  beginning of year $27,417,176 · end of year $28,482,642

• 12 · Investments: other securities

  beginning of year $257,724 · end of year $265,908

• 13 · Investments: program-related

  beginning of year $8,318,642 · end of year $8,630,455

• 15 · Other assets

  beginning of year $4,306 · end of year $48,032

• 17 · Accounts payable and accrued expenses

  beginning of year $2,021,956 · end of year $2,143,133

• 19 · Deferred revenue

  beginning of year $49,191 · end of year $69,541

• 23 · Secured mortgages and notes payable

  beginning of year $21,985,570 · end of year $22,647,439

• 25 · Other liabilities

  beginning of year $23,312 · end of year $28,886

• 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 $21,165,734 · end of year $22,888,902

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II

AS REQUIRED PER THE INSTRUCTIONS OF FORM 990 AND SCHEDULE J, THE AMOUNT REPORTED IN SCHEDULE J COLUMN C IS THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN RATHER THAN THE EXPENSE ON THE BOOKS OF THE COOPERATIVE. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR MIKE HEIDEMANN IS $44,005, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $52,820. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR BRANDON HAVEMEIER IS $14,073, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $38,930. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR JENNIFER ROSE IS $16,900, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $38,930. THE CHANGE IN ACTUARIAL VALUE IN THE DEFINED BENEFIT PLAN FOR ADAM FISCHER IS $12,187, WHEREAS THE ACTUAL EXPENSE FOR THE PLAN WAS $18,335.