Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Mem Connect Fees

  total $85,945 · related or exempt $85,945

• 2b · Program service revenue: Mem Electricity Sales

  total $28,730,445 · related or exempt $28,730,445

• 2c · Program service revenue: Mem Impact Fees

  total $335,897 · related or exempt $335,897

• 2d · Program service revenue: Mem Late Fees

  total $132,672 · related or exempt $132,672

• 2e · Program service revenue: Mem Merchandise Sales

  total $25,532 · related or exempt $25,532

• 3 · Investment income

  total $44,546 · related or exempt $44,546

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

  total $0

• 5 · Royalties

  total $0

• 6a · Gross rents

  real property $92,347

• 6c · Rental income or loss

  real property $92,347

• 6d · Net rental income or loss

  total $92,347 · related or exempt $92,347

• 7a · Gross sales of assets other than inventory

  other assets $131,122

• 7c · Gain or loss

  other assets $131,122

• 7d · Net gain or loss

  total $131,122 · related or exempt $131,122

• 8c · Net income from fundraising events

  total $0

• 9c · Net income from gaming

  total $0

• 10c · Net income from sales of inventory

  total $0

• 11a · Other revenue: Capital Credits

  total $286,367 · related or exempt $286,367

• 11b · Other revenue: Other Electric Revenue

  total $168,582 · related or exempt $168,582

• 11c · Other revenue: Wheeling

  total $584,899 · related or exempt $584,899

• 11d · All other revenue

  total $60,311 · related or exempt $60,311

• 11e · Other revenue, total

  $1,100,159

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 $0

• 5 · Compensation of officers, directors and key employees

  total $1,418,266 · management and general $1,418,266

• 6 · Compensation of disqualified persons

  total $1,970,928 · management and general $1,970,928

• 7 · Other salaries and wages

  total $0

• 8 · Pension plan contributions

  total $1,840,898 · management and general $1,840,898

• 9 · Other employee benefits

  total $196,886 · management and general $196,886

• 10 · Payroll taxes

  total $509,884 · management and general $509,884

• 11a · Fees: management

  total $0

• 11b · Fees: legal

  total $79,442 · management and general $79,442

• 11c · Fees: accounting

  total $14,075 · management and general $14,075

• 11d · Fees: lobbying

  total $0

• 11e · Fees: professional fundraising services

  total $0

• 11f · Fees: investment management

  total $0

• 11g · Fees: other

  total $61,256 · management and general $61,256

• 12 · Advertising and promotion

  total $565,171 · management and general $565,171

• 13 · Office expenses

  total $711,302 · management and general $711,302

• 14 · Information technology

  total $0

• 15 · Royalties

  total $0

• 16 · Occupancy

  total $0

• 17 · Travel

  total $126,392 · management and general $126,392

• 18 · Travel or entertainment for public officials

  total $0

• 19 · Conferences, conventions and meetings

  total $948,101 · management and general $948,101

• 20 · Interest

  total $1,299,608 · management and general $1,299,608

• 21 · Payments to affiliates

  total $0

• 22 · Depreciation, depletion and amortization

  total $4,089,967 · management and general $4,089,967

• 23 · Insurance

  total $248,070 · management and general $248,070

• 24a · Other expenses: Purchased Power/Production

  total $12,619,062 · management and general $12,619,062

• 24b · Other expenses: Customer Assistance

  total $831,055 · management and general $831,055

• 24c · Other expenses: Taxes & Licenses

  total $697,043 · management and general $697,043

• 24d · Other expenses: Maintenance of General Plant

  total $290,835 · management and general $290,835

• 24e · All other expenses

  total $332,300 · management and general $332,300

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,050,010 · end of year $3,300,078

• 2 · Savings and temporary cash investments

  end of year $0

• 3 · Pledges and grants receivable

  end of year $0

• 4 · Accounts receivable

  beginning of year $4,432,460 · end of year $5,744,749

• 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 $5,093,074 · end of year $4,954,008

• 9 · Prepaid expenses and deferred charges

  end of year $0

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

  $147,384,040

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

  $67,279,369

• 10c · Land, buildings and equipment, net

  beginning of year $78,391,877 · end of year $80,104,671

• 11 · Investments: publicly traded securities

  end of year $0

• 12 · Investments: other securities

  end of year $0

• 13 · Investments: program-related

  end of year $0

• 14 · Intangible assets

  end of year $0

• 15 · Other assets

  beginning of year $6,468,560 · end of year $6,357,907

• 17 · Accounts payable and accrued expenses

  beginning of year $2,416,291 · end of year $3,488,757

• 23 · Secured mortgages and notes payable

  beginning of year $33,648,550 · end of year $35,742,489

• 25 · Other liabilities

  beginning of year $5,770,770 · end of year $6,445,775

• 31 · Retained earnings, endowment or other funds

  beginning of year $54,600,370 · end of year $54,784,392

The filer's explanations (Part III)

Part I, Line 1a: Relevant information in regards to selections on 1a.

Related corporations and trusts

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

• Garkane Propane Inc

  C-Corp · LP Gas Sales · UT · 100% owned

  Directly controlled by Garkane Energy Cooperative