Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: CONTRIBUTION IN AID

  total $210,173 · related or exempt $208,253 · unrelated business $1,920

• 2b · Program service revenue: ELECTRIC SERVICE REVENUE

  total $7,399,400 · related or exempt $7,399,400

• 2c · Program service revenue: FIBER OPTIC BROADBAND

  total $3,929,093 · related or exempt $2,794,900 · unrelated business $1,134,193

• 2d · Program service revenue: NYS FTTH GRANT

  total $437,772 · related or exempt $437,772

• 2e · Program service revenue: RESALE UTILITY CONTRACT

  total $593,377 · related or exempt $593,377

• 2f · All other program service revenue

  total $206,258 · related or exempt $201,815 · unrelated business $4,443

• 3 · Investment income

  total $12,498 · unrelated business $165 · excluded $12,333

• 4 · Income from investment of tax-exempt bond proceeds

  total $0

• 5 · Royalties

  total $0

• 6d · Net rental income or loss

  total $0

• 7d · Net gain or loss

  total $0

• 8c · Net income from fundraising events

  total $0

• 9c · Net income from gaming

  total $0

• 10c · Net income from sales of inventory

  total $0

• 11e · Other revenue, total

  $0

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $0

• 2 · Grants to domestic individuals

  total $0

• 3 · Grants to foreign organizations and individuals

  total $0

• 4 · Benefits paid to or for members

  total $1,121,431

• 5 · Compensation of officers, directors and key employees

  total $425,555

• 6 · Compensation of disqualified persons

  total $0

• 7 · Other salaries and wages

  total $1,295,812

• 8 · Pension plan contributions

  total $0

• 9 · Other employee benefits

  total $742,184

• 10 · Payroll taxes

  total $163,393

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $0

• 11c · Fees: accounting

  total $0

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $0

• 11g · Fees: other

  total $0

• 12 · Advertising and promotion

  total $0

• 13 · Office expenses

  total $0

• 14 · Information technology

  total $0

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $0

• 17 · Travel

  total $0

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $0

• 20 · Interest

  total $852,030

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $2,199,391

• 23 · Insurance

  total $0

• 24a · Other expenses: ACCESS COST

  total $2,515,625

• 24b · Other expenses: DISTRIBUTION OPERATIONS

  total $1,076,688

• 24c · Other expenses: ADMIN & GENERAL

  total $577,391

• 24d · Other expenses: DISTRIBUTION MAINTENANCE

  total $464,614

• 24e · All other expenses

  total $800,326

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $284,731 · end of year $322,575

• 2 · Savings and temporary cash investments

  beginning of year $252,292 · end of year $997,691

• 3 · Pledges and grants receivable

  beginning of year $843,211 · end of year $688,050

• 4 · Accounts receivable

  beginning of year $822,532 · end of year $993,784

• 5 · Loans and receivables from officers and key people

  end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  end of year $0

• 8 · Inventories for sale or use

  beginning of year $810,029 · end of year $1,099,356

• 9 · Prepaid expenses and deferred charges

  beginning of year $536,214 · end of year $493,867

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

  $58,968,879

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

  $19,459,153

• 10c · Land, buildings and equipment, net

  beginning of year $40,320,861 · end of year $39,509,726

• 11 · Investments: publicly traded securities

  end of year $0

• 12 · Investments: other securities

  end of year $0

• 13 · Investments: program-related

  beginning of year $1,180,349 · end of year $1,222,920

• 14 · Intangible assets

  beginning of year $122,552 · end of year $122,552

• 15 · Other assets

  beginning of year $3,896,034 · end of year $3,635,734

• 17 · Accounts payable and accrued expenses

  beginning of year $689,941 · end of year $711,858

• 19 · Deferred revenue

  beginning of year $247,794 · end of year $263,253

• 23 · Secured mortgages and notes payable

  beginning of year $21,900,092 · end of year $20,709,084

• 25 · Other liabilities

  beginning of year $13,556,827 · end of year $13,473,587

• 31 · Retained earnings, endowment or other funds

  beginning of year $12,674,151 · end of year $13,928,473

The filer's explanations (Part III)

Part III, Additional Information

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, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. 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 CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. NAME: TIMOTHY JOHNSON $ 50,084EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $ 50,084 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (50,084)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,016EXPENSE TO THE COOPERATIVE $ 33,016NAME: KEVIN ROTTINGENACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,348EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $ 54,348 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,348)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 39,671EXPENSE TO THE COOPERATIVE $ 39,671NAME: JUSTIN MARCHACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 42,613EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $ 42,613LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (42,613)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,092EXPENSE TO THE COOPERATIVE $ 38,092NAME: STEVEN SICKLERACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 39,119EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $ 39,119LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (39,119)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,092EXPENSE TO THE COOPERATIVE $ 38,092NAME: BRAD ALGERACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 22,300EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C $ 22,300LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (22,300)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,783EXPENSE TO THE COOPERATIVE $ 20,783NAME: JAMES FOOTEACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 43,027EMPLOYER CONTRIBUTION TO 401(K) PLAN -0-TOTAL REPORTED IN COLUMN C 43,027LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (43,027)ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,340EXPENSE TO THE COOPERATIVE $27,340

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• OECONNECT LLC

  BROADBAND · NY · income $3,929,093 · assets $2,079,873

  Directly controlled by OTSEGO ELECTRIC