Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $147,603,695 · related or exempt $147,603,695

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $9,047,499 · related or exempt $9,047,499

• 2c · Program service revenue: SERVICE FEES

  total $323,770 · related or exempt $323,770

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $19,128 · excluded $19,128

• 2e · Program service revenue: ELECTRIC TRANSMISSION REVENUE

  total $9,126 · related or exempt $9,126

• 3 · Investment income

  total $292,542 · excluded $292,542

• 6a · Gross rents

  real property $6,960 · personal property $900

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $6,960 · personal property $900

• 6d · Net rental income or loss

  total $7,860 · related or exempt $900 · excluded $6,960

• 7a · Gross sales of assets other than inventory

  other assets $30,579

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

  other assets $26,360

• 7c · Gain or loss

  other assets $4,219

• 7d · Net gain or loss

  total $4,219 · related or exempt $4,219

• 10a · Gross sales of inventory

  $599,667

• 10b · Cost of goods sold

  $542,918

• 10c · Net income from sales of inventory

  total $56,749 · related or exempt $56,749

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $180,753 · excluded $180,753

• 11e · Other revenue, total

  $180,753

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $95,199

• 4 · Benefits paid to or for members

  total $10,976,274

• 5 · Compensation of officers, directors and key employees

  total $1,741,021

• 7 · Other salaries and wages

  total $9,974,850

• 8 · Pension plan contributions

  total $1,886,303

• 9 · Other employee benefits

  total $1,912,821

• 10 · Payroll taxes

  total $793,718

• 20 · Interest

  total $5,417,210

• 22 · Depreciation, depletion and amortization

  total $8,124,658

• 24a · Other expenses: PURCHASED POWER

  total $101,560,924

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $9,521,640

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $3,366,732

• 24d · Other expenses: CONSUMER EXPENSE

  total $1,128,062

• 24e · All other expenses

  total $109,122

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,755,733 · end of year $1,443,675

• 2 · Savings and temporary cash investments

  end of year $3,600,000

• 4 · Accounts receivable

  beginning of year $4,678,918 · end of year $4,127,104

• 8 · Inventories for sale or use

  beginning of year $77,786 · end of year $38,808

• 9 · Prepaid expenses and deferred charges

  beginning of year $374,979 · end of year $484,514

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

  $296,557,760

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

  $41,892,308

• 10c · Land, buildings and equipment, net

  beginning of year $236,507,203 · end of year $254,665,452

• 13 · Investments: program-related

  beginning of year $79,615,884 · end of year $88,011,413

• 15 · Other assets

  beginning of year $5,338,809 · end of year $6,279,218

• 17 · Accounts payable and accrued expenses

  beginning of year $18,996,757 · end of year $16,117,650

• 21 · Escrow or custodial account liability

  beginning of year $2,389 · end of year $124,535

• 23 · Secured mortgages and notes payable

  beginning of year $122,075,208 · end of year $129,421,134

• 25 · Other liabilities

  beginning of year $46,931,104 · end of year $62,688,870

• 29 · Capital stock, trust principal or current funds

  beginning of year $105,030 · end of year $107,220

• 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 $140,238,824 · end of year $150,190,775

The filer's explanations (Part III)

PART II, COLUMN C:

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. HEBERT OTT GREBE III: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 66,714 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,937 TOTAL REPORTED IN COLUMN C $ 73,651 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (66,714) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 52,666 EXPENSE TO THE COOPERATIVE $ 59,603 PATRICIA TAYLOR: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 79,881 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,852 TOTAL REPORTED IN COLUMN C $ 84,733 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (79,881) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,677 EXPENSE TO THE COOPERATIVE $ 40,529 LAURIE VAN DAMME: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 53,590 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,852 TOTAL REPORTED IN COLUMN C $ 58,442 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (53,590) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,677 EXPENSE TO THE COOPERATIVE $ 40,529 DOUG KINDRED: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 56,168 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,813 TOTAL REPORTED IN COLUMN C $ 60,981 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (56,168) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 35,328 EXPENSE TO THE COOPERATIVE $ 40,141 LEONARD GEYER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 59,293 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,519 TOTAL REPORTED IN COLUMN C $ 63,812 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (59,293) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,925 EXPENSE TO THE COOPERATIVE $ 37,444 KEITH CALLE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 15,194 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,629 TOTAL REPORTED IN COLUMN C $ 20,823 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (15,194) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,230 EXPENSE TO THE COOPERATIVE $ 46,859 BRETT WILLIAMS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,894 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,186 TOTAL REPORTED IN COLUMN C $ 21,080 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,894) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,386 EXPENSE TO THE COOPERATIVE $ 36,572 PATRICIO GARZA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 35,276 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,977 TOTAL REPORTED IN COLUMN C $ 38,253 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (35,276) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,551 EXPENSE TO THE COOPERATIVE $ 24,528 SEAN KRAUSE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 24,537 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,854 TOTAL REPORTED IN COLUMN C $ 28,391 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (24,537) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,349 EXPENSE TO THE COOPERATIVE $ 35,203 ZACHARY LYLE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 15,255 EMPLOYER CONTRIBUTION TO 401(K) PLAN 541 TOTAL REPORTED IN COLUMN C $ 15,796 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (15,255) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,765 EXPENSE TO THE COOPERATIVE $ 33,306 MARIO MOLINA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,762 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,875 TOTAL REPORTED IN COLUMN C $ 10,637 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,762) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,956 EXPENSE TO THE COOPERATIVE $ 23,831