Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $83,749,799 · related or exempt $83,749,799

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $1,688,835 · related or exempt $1,688,835

• 2c · Program service revenue: SERVICE FEES

  total $108,031 · related or exempt $108,031

• 3 · Investment income

  total $73,682 · excluded $73,682

• 5 · Royalties

  total $328 · excluded $328

• 10a · Gross sales of inventory

  $500,917

• 10b · Cost of goods sold

  $178,226

• 10c · Net income from sales of inventory

  total $322,691 · related or exempt $322,691

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $3,588 · excluded $3,588

• 11e · Other revenue, total

  $3,588

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $79,472

• 3 · Grants to foreign organizations and individuals

  total $2,500

• 4 · Benefits paid to or for members

  total $8,155,145

• 5 · Compensation of officers, directors and key employees

  total $1,595,222

• 7 · Other salaries and wages

  total $2,585,444

• 8 · Pension plan contributions

  total $369,548

• 9 · Other employee benefits

  total $555,747

• 10 · Payroll taxes

  total $231,367

• 20 · Interest

  total $3,906,102

• 22 · Depreciation, depletion and amortization

  total $5,145,417

• 24a · Other expenses: PURCHASED POWER

  total $55,361,971

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $3,265,911

• 24c · Other expenses: OPERATING TAXES

  total $1,673,932

• 24d · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,606,271

• 24e · All other expenses

  total $1,412,905

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $378,223 · end of year $410,170

• 2 · Savings and temporary cash investments

  beginning of year $3,913 · end of year $1,000,000

• 4 · Accounts receivable

  beginning of year $9,893,997 · end of year $9,168,826

• 9 · Prepaid expenses and deferred charges

  beginning of year $53,010 · end of year $55,353

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

  $158,871,064

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

  $11,312,648

• 10c · Land, buildings and equipment, net

  beginning of year $141,400,360 · end of year $147,558,416

• 13 · Investments: program-related

  beginning of year $16,817,071 · end of year $17,952,606

• 15 · Other assets

  beginning of year $1,091,178 · end of year $1,615,150

• 17 · Accounts payable and accrued expenses

  beginning of year $5,975,672 · end of year $8,074,123

• 23 · Secured mortgages and notes payable

  beginning of year $88,033,376 · end of year $85,507,647

• 25 · Other liabilities

  beginning of year $6,609,774 · end of year $8,671,212

• 29 · Capital stock, trust principal or current funds

  beginning of year $440,314 · end of year $442,197

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $3,015,750 · end of year $3,275,630

• 31 · Retained earnings, endowment or other funds

  beginning of year $65,562,866 · end of year $71,789,712

The filer's explanations (Part III)

PART I, LINE 1A

PURSUANT TO APPLICABLE TRAVEL POLICIES, THE COOPERATIVE WILL REIMBURSE EMPLOYEES FOR THE COST OF HIS/HER SPOUSE TO ACCOMPANY HIM/HER ON OFFICIAL BUSINESS OF THE COOPERATIVE AND ONE-HALF OF THE COST OF THE HEALTH CLUB EXPENSES. FOUR INDIVIDUALS (ROARK, ANDREWS, HYATT, JOHNSON) REPORTED ON FORM 990 PART VII RECEIVED THESE BENEFITS DURING THE YEAR. SINCE THE COOPERATIVE CONSIDERS THE REIMBURSEMENT TO BE CONSISTENT TO A BONA FIDE BUSINESS PURPOSE, SUCH REIMBURSEMENTS ARE TREATED AS EXPENSES EXCLUDED FROM THE REPORTABLE COMPENSATION OF EACH.

PART II, COLUMN B(II):

REED EMERSON RECEIVED A RETIREMENT PACKAGE IN THE AMOUNT OF $275,000 FOR 39 YEARS OF DEDICATED SERVICE TO CIMARRON ELECTRIC COOPERATIVE.