Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE

  total $121,232,019 · related or exempt $121,232,019

• 2b · Program service revenue: RENT FROM ELECTRIC PROPERTIES

  total $6,771,355 · related or exempt $6,771,355

• 2c · Program service revenue: MISCELLANEOUS SERVICE REVENUE

  total $1,325,391 · related or exempt $1,325,391

• 2d · Program service revenue: FORFEITED DISCOUNTS

  total $599,109 · related or exempt $599,109

• 2e · Program service revenue: OTHER ELECTRIC REVENUE

  total $62,560 · related or exempt $62,560

• 3 · Investment income

  total $2,613,554 · excluded $2,613,554

• 7a · Gross sales of assets other than inventory

  other assets $404,846

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

  other assets $224,991

• 7c · Gain or loss

  other assets $179,855

• 7d · Net gain or loss

  total $179,855 · related or exempt $179,855

• 10a · Gross sales of inventory

  $6,943

• 10b · Cost of goods sold

  $2,416

• 10c · Net income from sales of inventory

  total $4,527 · related or exempt $4,527

Functional expenses

Part IX, the statement of functional expenses.

• 5 · Compensation of officers, directors and key employees

  total $768,356

• 7 · Other salaries and wages

  total $10,961,784

• 8 · Pension plan contributions

  total $1,809,135

• 9 · Other employee benefits

  total $2,457,981

• 10 · Payroll taxes

  total $881,753

• 11b · Fees: legal

  total $41,240

• 11c · Fees: accounting

  total $30,130

• 11g · Fees: other

  total $39,376

• 12 · Advertising and promotion

  total $367,821

• 13 · Office expenses

  total $1,040,569

• 14 · Information technology

  total $821,271

• 16 · Occupancy

  total $341,827

• 17 · Travel

  total $83,210

• 19 · Conferences, conventions and meetings

  total $488,259

• 20 · Interest

  total $2,536,908

• 22 · Depreciation, depletion and amortization

  total $9,052,166

• 23 · Insurance

  total $1,001,798

• 24a · Other expenses: COST OF POWER

  total $87,055,143

• 24b · Other expenses: ELECTRIC SYSTEM OPERATING

  total $4,418,043

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $21,421,733 · end of year $14,735,120

• 2 · Savings and temporary cash investments

  beginning of year $30,316 · end of year $27,132

• 4 · Accounts receivable

  beginning of year $6,180,130 · end of year $5,678,464

• 7 · Other notes and loans receivable

  beginning of year $755,328 · end of year $1,491,834

• 8 · Inventories for sale or use

  beginning of year $2,101,019 · end of year $3,127,562

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,126,850 · end of year $269,202

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

  $328,634,611

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

  $118,425,596

• 10c · Land, buildings and equipment, net

  beginning of year $175,808,343 · end of year $210,209,015

• 12 · Investments: other securities

  beginning of year $11,628,938 · end of year $13,288,714

• 17 · Accounts payable and accrued expenses

  beginning of year $30,347,659 · end of year $33,792,813

• 23 · Secured mortgages and notes payable

  beginning of year $63,801,050 · end of year $85,302,600

• 25 · Other liabilities

  beginning of year $9,080,103 · end of year $5,316,185

• 31 · Retained earnings, endowment or other funds

  beginning of year $115,823,845 · end of year $124,415,445

The filer's explanations (Part III)

SCHEDULE J, PART III

PART I, QUESTION 3: ANNUAL EXTERNAL WAGE SURVEYS ARE OBTAINED FROM TENNESSEE VALLEY PUBLIC POWER ASSOCIATION AND RELATED COMPARABILITY DATA IS COMPILED BY THE COMPANY'S HUMAN RESOURCE DEPARTMENT. THIS INFORMATION IS USED BY THE BOARD OF DIRECTOR'S EXECUTIVE COMMITTEE TO DETERMINE THE RECOMMENDED COMPENSATION FOR THE PRESIDENT. THE FULL BOARD OF DIRECTORS APPROVES THE PRESIDENT'S COMPENSATION AND A WRITTEN CONTRACT IS EXECUTED. PART II, ADDITIONAL INFORMATION: REGARDING COLUMN C, RETIREMENT AND OTHER DEFERRED COMPENSATION, FOR J. KEVIN MURPHY AND THOMAS CARLTON: THE AMOUNT LISTED IS THE INCREASE IN ACTUARIAL VALUE OF THEIR DEFINED BENEFIT PENSION PLAN AS DETERMINED BY THE PLAN ACTUARIES. THIS AMOUNT DOES NOT REPRESENT DIRECT PAYMENTS MADE BY THE COOPERATIVE OR RECEIVED BY THE INDIVIDUAL LISTED.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• AENEAS COMMUNICATIONS LLC

  TELECOM · TN