Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $260,927,805 · related or exempt $260,927,805

• 2b · Program service revenue: TRANSMISSION REVENUE

  total $7,703,138 · related or exempt $7,703,138

• 2c · Program service revenue: PATRONAGE DIVIDENDS

  total $4,956,686 · related or exempt $4,956,686

• 2d · Program service revenue: SERVICE FEES

  total $2,886,277 · related or exempt $2,886,277

• 3 · Investment income

  total $112,176 · excluded $112,176

• 10a · Gross sales of inventory

  $165,245

• 10b · Cost of goods sold

  $0

• 10c · Net income from sales of inventory

  total $165,245 · related or exempt $165,245

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $1,079,379 · excluded $1,079,379

• 11e · Other revenue, total

  $1,079,379

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $48,164

• 4 · Benefits paid to or for members

  total $13,990,380

• 5 · Compensation of officers, directors and key employees

  total $5,784,224

• 7 · Other salaries and wages

  total $13,331,676

• 8 · Pension plan contributions

  total $1,536,585

• 9 · Other employee benefits

  total $2,489,955

• 10 · Payroll taxes

  total $1,131,686

• 20 · Interest

  total $17,809,762

• 22 · Depreciation, depletion and amortization

  total $25,201,835

• 24a · Other expenses: PURCHASED POWER

  total $160,165,499

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $16,052,857

• 24c · Other expenses: ADMIN & GENERAL

  total $6,996,952

• 24d · Other expenses: CONSUMER EXPENSE

  total $3,946,662

• 24e · All other expenses

  total $3,986,967

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $3,598,959 · end of year $2,629,672

• 2 · Savings and temporary cash investments

  beginning of year $3,886,537 · end of year $3,374,855

• 4 · Accounts receivable

  beginning of year $12,491,386 · end of year $16,967,623

• 8 · Inventories for sale or use

  beginning of year $322,518 · end of year $523,127

• 9 · Prepaid expenses and deferred charges

  beginning of year $34,738,005 · end of year $33,840,862

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

  $869,098,705

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

  $290,585,760

• 10c · Land, buildings and equipment, net

  beginning of year $521,068,089 · end of year $578,512,945

• 13 · Investments: program-related

  beginning of year $87,294,725 · end of year $90,761,555

• 15 · Other assets

  beginning of year $7,613,823 · end of year $9,431,573

• 17 · Accounts payable and accrued expenses

  beginning of year $27,329,966 · end of year $35,014,557

• 21 · Escrow or custodial account liability

  beginning of year $1,036,098 · end of year $1,011,802

• 23 · Secured mortgages and notes payable

  beginning of year $408,481,351 · end of year $449,750,257

• 25 · Other liabilities

  beginning of year $17,526,550 · end of year $14,935,778

• 29 · Capital stock, trust principal or current funds

  beginning of year $156,290 · end of year $156,290

• 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 $216,483,787 · end of year $235,173,528

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. DOUGLAS TURK: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 83,353 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 21,000 TOTAL REPORTED IN COLUMN C (A + B) $ 104,353 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 66,582 EXPENSE TO THE COOPERATIVE (B + C) $ 87,582 KEITH STAPLES: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 109,351 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 16,209 TOTAL REPORTED IN COLUMN C (A + B) $ 125,560 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,510 EXPENSE TO THE COOPERATIVE (B + C) $ 63,719 RYAN BROWN: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 45,942 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 18,305 TOTAL REPORTED IN COLUMN C (A + B) $ 64,247 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 57,070 EXPENSE TO THE COOPERATIVE (B + C) $ 75,375 RICKY HARRELL: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 128,482 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,092 TOTAL REPORTED IN COLUMN C (A + B) $ 141,574 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,314 EXPENSE TO THE COOPERATIVE (B + C) $ 51,406 GARY WHITE: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 145,110 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,405 TOTAL REPORTED IN COLUMN C (A + B) $ 155,515 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,319 EXPENSE TO THE COOPERATIVE (B + C) $ 42,724 JOSEPH CONNER: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,822 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 15,550 TOTAL REPORTED IN COLUMN C (A + B) $ 46,372 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 46,513 EXPENSE TO THE COOPERATIVE (B + C) $ 62,063 DANA MASSEY: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 69,828 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,214 TOTAL REPORTED IN COLUMN C (A + B) $ 81,042 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,400 EXPENSE TO THE COOPERATIVE (B + C) $ 44,614 JOEL COLSTON: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 23,190 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,388 TOTAL REPORTED IN COLUMN C (A + B) $ 36,578 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 41,931 EXPENSE TO THE COOPERATIVE (B + C) $ 55,319 RACHEL HAWKINS: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 21,955 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 13,092 TOTAL REPORTED IN COLUMN C (A + B) $ 35,047 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,314 EXPENSE TO THE COOPERATIVE (B + C) $ 51,406 SONYA REECE: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 43,397 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 11,050 TOTAL REPORTED IN COLUMN C (A + B) $ 54,447 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,293 EXPENSE TO THE COOPERATIVE (B + C) $ 44,343 JOHN WILLIAMS: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 58,328 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,341 TOTAL REPORTED IN COLUMN C (A + B) $ 67,669 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,062 EXPENSE TO THE COOPERATIVE (B + C) $ 37,403 MIKE GARESS: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 64,187 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,633 TOTAL REPORTED IN COLUMN C (A + B) $ 72,820 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,875 EXPENSE TO THE COOPERATIVE (B + C) $ 35,508 ROBERT LANTRIP: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 31,498 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,566 TOTAL REPORTED IN COLUMN C (A + B) $ 38,064 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,355 EXPENSE TO THE COOPERATIVE (B + C) $ 23,921 KIRBY SHEPHERD: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,500 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,590 TOTAL REPORTED IN COLUMN C (A + B) $ 43,090 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,355 EXPENSE TO THE COOPERATIVE (B + C) $ 23,945 KABE MURPHY: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 19,264 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,413 TOTAL REPORTED IN COLUMN C (A + B) $ 29,677 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,385 EXPENSE TO THE COOPERATIVE (B + C) $ 40,798 JOHN HARRIS: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 13,148 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,611 TOTAL REPORTED IN COLUMN C (A + B) $ 19,759 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,355 EXPENSE TO THE COOPERATIVE (B + C) $ 23,966 KELTON COWART: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 8,743 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,953 TOTAL REPORTED IN COLUMN C (A + B) $ 15,696 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,542 EXPENSE TO THE COOPERATIVE (B + C) $ 25,495 MARKALIN MERCHANT: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 3,604 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,591 TOTAL REPORTED IN COLUMN C (A + B) $ 10,195 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,490 EXPENSE TO THE COOPERATIVE (B + C) $ 21,081 DARREN MARCEAUX: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 8,775 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,531 TOTAL REPORTED IN COLUMN C (A + B) $ 15,306 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,355 EXPENSE TO THE COOPERATIVE (B + C) $ 23,886 CALVIN WALKER: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 30,984 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,633 TOTAL REPORTED IN COLUMN C (A + B) $ 39,617 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 26,875 EXPENSE TO THE COOPERATIVE (B + C) $ 35,508 CHAD FARRAR: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 32,696 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,489 TOTAL REPORTED IN COLUMN C (A + B) $ 41,185 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,728 EXPENSE TO THE COOPERATIVE (B + C) $ 34,217 JUSTIN STEWART: (A) ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 12,027 (B) EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,643 TOTAL REPORTED IN COLUMN C (A + B) $ 18,670 (C) CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 17,355 EXPENSE TO THE COOPERATIVE (B + C) $ 23,998