Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC SALES

  total $19,074,319 · related or exempt $19,074,319

• 2b · Program service revenue: FIBER SALES

  total $532,483 · unrelated business $532,483

• 2c · Program service revenue: CAPITAL CREDITS

  total $359,277 · related or exempt $359,277

• 2d · Program service revenue: OTHER SUPPORTING REVENUE

  total $93,393 · related or exempt $93,393

• 3 · Investment income

  total $37,419 · excluded $37,419

• 11a · Other revenue: FTTH REVENUE

  total $300,466 · unrelated business $300,466

• 11b · Other revenue: MAINTENANCE CONTRACT

  total $190,800 · unrelated business $190,800

• 11c · Other revenue: WILD BLUE/POWERCOMM

  total $833 · related or exempt $833

• 11e · Other revenue, total

  $492,099

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,087,785

• 5 · Compensation of officers, directors and key employees

  total $503,045

• 7 · Other salaries and wages

  total $2,040,909

• 8 · Pension plan contributions

  total $541,684

• 10 · Payroll taxes

  total $207,732

• 20 · Interest

  total $804,284

• 22 · Depreciation, depletion and amortization

  total $1,949,315

• 24a · Other expenses: COST OF POWER

  total $11,439,741

• 24b · Other expenses: ADMIN AND GENERAL

  total $1,769,984

• 24c · Other expenses: DISTRIBUTIONS

  total $1,576,413

• 24d · Other expenses: CUSTOMER SERV & ACCTS

  total $1,025,448

• 24e · All other expenses

  total -$2,918,713

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $71,041 · end of year $37,032

• 2 · Savings and temporary cash investments

  beginning of year $938,991 · end of year $1,463,072

• 3 · Pledges and grants receivable

  end of year $800,000

• 4 · Accounts receivable

  beginning of year $2,466,560 · end of year $2,282,162

• 8 · Inventories for sale or use

  beginning of year $2,384,919 · end of year $2,010,943

• 9 · Prepaid expenses and deferred charges

  beginning of year $63,331 · end of year $122,535

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

  $70,397,752

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

  $36,851,073

• 10c · Land, buildings and equipment, net

  beginning of year $32,804,170 · end of year $33,546,679

• 13 · Investments: program-related

  beginning of year $4,222,983 · end of year $4,455,828

• 17 · Accounts payable and accrued expenses

  beginning of year $2,068,829 · end of year $1,947,368

• 19 · Deferred revenue

  beginning of year $162,177 · end of year $180,949

• 21 · Escrow or custodial account liability

  beginning of year $10,468 · end of year $10,571

• 23 · Secured mortgages and notes payable

  beginning of year $17,826,367 · end of year $18,560,092

• 24 · Unsecured notes and loans payable

  beginning of year $1,950,000 · end of year $2,000,000

• 25 · Other liabilities

  beginning of year $140,054 · end of year $272,255

• 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 $20,794,100 · end of year $21,747,016

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II, COLUMN C

INCLUDED IN SCHEDULE J, PART II, COLUMN C IS THE ESTIMATED ANNUAL INCREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THESE AMOUNTS DO NOT REPRESENT ANY CURRENT YEAR CONTRIBUTIONS TO THE PLAN. THEY ARE ESTIMATES IN THE INCREASE IN THE ACTUARIAL VALUE OF THE PLAN RECEIVED FROM NRECA. THE CURRENT YEAR EXPENSE AND ESTIMATED ACTUARIAL INCREASE ARE REFLECTED IN THE SCHEDULE O STATEMENT FOR FORM 990, PART VII, COLUMN F.