Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $67,707,373 · related or exempt $67,707,373

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $2,900,928 · related or exempt $2,900,928

• 2c · Program service revenue: BROADBAND ACCESS

  total $2,149,595 · related or exempt $1,702,510 · unrelated business $447,085

• 2d · Program service revenue: SERVICE FEES

  total $507,871 · related or exempt $507,871

• 3 · Investment income

  total $86,002 · excluded $86,002

• 6a · Gross rents

  real property $28,600

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $28,600

• 6d · Net rental income or loss

  total $28,600 · excluded $28,600

• 7a · Gross sales of assets other than inventory

  other assets $2,145

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

  other assets $0

• 7c · Gain or loss

  other assets $2,145

• 7d · Net gain or loss

  total $2,145 · related or exempt $2,145

• 10a · Gross sales of inventory

  $6,501

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $6,501 · related or exempt $6,501

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $278,068 · excluded $278,068

• 11b · Other revenue: MISC. NON OPERATING INCOME

  total $25,674 · related or exempt $25,674

• 11e · Other revenue, total

  $303,742

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,800

• 4 · Benefits paid to or for members

  total $4,230,843

• 5 · Compensation of officers, directors and key employees

  total $663,978

• 7 · Other salaries and wages

  total $3,875,110

• 8 · Pension plan contributions

  total $448,868

• 9 · Other employee benefits

  total $866,435

• 10 · Payroll taxes

  total $302,455

• 20 · Interest

  total $1,989,285

• 22 · Depreciation, depletion and amortization

  total $5,081,177

• 24a · Other expenses: PURCHASED POWER

  total $51,597,859

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $2,231,202

• 24c · Other expenses: ADMINISTRATIVE AND GENE

  total $1,047,795

• 24d · Other expenses: BROADBAND EXPENSES

  total $916,478

• 24e · All other expenses

  total $865,563

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,791,533 · end of year $2,336,665

• 2 · Savings and temporary cash investments

  beginning of year $5,802

• 4 · Accounts receivable

  beginning of year $3,115,468 · end of year $4,071,751

• 8 · Inventories for sale or use

  beginning of year $1,909,529 · end of year $3,039,767

• 9 · Prepaid expenses and deferred charges

  beginning of year $629,777 · end of year $529,275

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

  $146,431,412

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

  $48,617,835

• 10c · Land, buildings and equipment, net

  beginning of year $94,377,981 · end of year $97,813,577

• 13 · Investments: program-related

  beginning of year $46,574,045 · end of year $49,348,770

• 15 · Other assets

  beginning of year $2,863,292 · end of year $1,923,152

• 17 · Accounts payable and accrued expenses

  beginning of year $5,441,664 · end of year $6,474,018

• 23 · Secured mortgages and notes payable

  beginning of year $59,296,081 · end of year $61,505,948

• 25 · Other liabilities

  beginning of year $2,842,331 · end of year $3,191,416

• 29 · Capital stock, trust principal or current funds

  beginning of year $85,895 · end of year $87,230

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

  beginning of year $82,785,493 · end of year $86,926,173

• 31 · Retained earnings, endowment or other funds

  beginning of year $1,815,963 · end of year $878,172

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. BLAINE WARZECHA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 59,145 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,094 TOTAL REPORTED IN COLUMN C $ 73,239 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (59,145) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,143 EXPENSE TO THE COOPERATIVE $ 46,237 ROBERT FRANCIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,673 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,553 TOTAL REPORTED IN COLUMN C $ 29,226 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,673) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,458 EXPENSE TO THE COOPERATIVE $ 28,011 LADDY BROWN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 43,670 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,260 TOTAL REPORTED IN COLUMN C $ 50,930 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (43,670) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 16,523 EXPENSE TO THE COOPERATIVE $ 23,783 DAVID NERADA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 28,325 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,397 TOTAL REPORTED IN COLUMN C $ 36,722 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (28,325) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,647 EXPENSE TO THE COOPERATIVE $ 22,044 JESSICA GRAY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,388 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,972 TOTAL REPORTED IN COLUMN C $ 27,360 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (19,388) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,411 EXPENSE TO THE COOPERATIVE $ 25,383 NINA CAMPOS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,435 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,104 TOTAL REPORTED IN COLUMN C $ 23,539 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,435) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,438 EXPENSE TO THE COOPERATIVE $ 20,542