Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $52,906,986 · related or exempt $52,906,986

• 2b · Program service revenue: CAPITAL CREDITS

  total $4,222,376 · related or exempt $4,222,376

• 2c · Program service revenue: MANAGEMENT FEE INCOME

  total $858,953 · related or exempt $858,953

• 3 · Investment income

  total $244,284 · excluded $244,284

• 7a · Gross sales of assets other than inventory

  other assets $1,813,113

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

  other assets $0

• 7c · Gain or loss

  other assets $1,813,113

• 7d · Net gain or loss

  total $1,813,113 · excluded $1,813,113

• 10a · Gross sales of inventory

  $572,381

• 10b · Cost of goods sold

  $551,508

• 10c · Net income from sales of inventory

  total $20,873 · related or exempt $23,654 · unrelated business -$2,781

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $8,126

• 4 · Benefits paid to or for members

  total $2,550,000

• 5 · Compensation of officers, directors and key employees

  total $779,035

• 6 · Compensation of disqualified persons

  total $112,532

• 7 · Other salaries and wages

  total $1,955,589

• 8 · Pension plan contributions

  total $630,220

• 9 · Other employee benefits

  total $765,583

• 10 · Payroll taxes

  total $371,999

• 11a · Fees: management

  total $858,953

• 11b · Fees: legal

  total $288,223

• 11c · Fees: accounting

  total $25,700

• 11g · Fees: other

  total $533,318

• 12 · Advertising and promotion

  total $219,633

• 13 · Office expenses

  total $78,380

• 14 · Information technology

  total $219,018

• 19 · Conferences, conventions and meetings

  total $124,358

• 20 · Interest

  total $2,201,374

• 22 · Depreciation, depletion and amortization

  total $5,040,402

• 23 · Insurance

  total $37,998

• 24a · Other expenses: COST OF POWER

  total $34,983,078

• 24b · Other expenses: DIST EXP - MAINTENANCE

  total $1,922,851

• 24c · Other expenses: DIST EXP - OPERATIONS

  total $427,264

• 24d · Other expenses: ADMIN & GENERAL

  total $239,533

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,743,030 · end of year $3,516,590

• 2 · Savings and temporary cash investments

  beginning of year $709,488 · end of year $109,479

• 4 · Accounts receivable

  beginning of year $5,509,833 · end of year $6,002,965

• 7 · Other notes and loans receivable

  beginning of year $151,671 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $2,880,274 · end of year $3,050,152

• 9 · Prepaid expenses and deferred charges

  beginning of year $426,695 · end of year $485,715

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

  $173,605,306

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

  $54,649,488

• 10c · Land, buildings and equipment, net

  beginning of year $114,845,376 · end of year $118,955,818

• 13 · Investments: program-related

  beginning of year $35,384,525 · end of year $37,134,205

• 14 · Intangible assets

  beginning of year $31,019 · end of year $29,581

• 15 · Other assets

  beginning of year $18,602 · end of year $11,021

• 17 · Accounts payable and accrued expenses

  beginning of year $4,968,445 · end of year $5,182,938

• 19 · Deferred revenue

  beginning of year $374,355 · end of year $514,348

• 23 · Secured mortgages and notes payable

  beginning of year $75,198,414 · end of year $74,532,432

• 24 · Unsecured notes and loans payable

  beginning of year $442,881 · end of year $0

• 25 · Other liabilities

  beginning of year $674,640 · end of year $901,099

• 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 $81,041,778 · end of year $88,164,709

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN C

PER IRS INSTRUCTIONS, THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN IS INCLUDED IN SCHEDULE J, PART II, COLUMN C FOR EMPLOYEES WHO PARTICIPATE IN THE PLAN. THIS IS NOT REFLECTIVE OF ACTUAL CONTRIBUTIONS MADE TO THE PLAN DURING THE YEAR.