Form 990 for tax year 2023

2a · Program service revenue: ELECTRIC ENERGY SALES

total $30,299,985 · related or exempt $30,299,985

2b · Program service revenue: OTHER OPERATING REVENUE

total $483,892 · related or exempt $483,892

3 · Investment income

total $274,470 · related or exempt $217,477 · excluded $56,993

7a · Gross sales of assets other than inventory

other assets $125,367

7b · Less cost or other basis and sales expenses

other assets $82,388

7c · Gain or loss

other assets $42,979

7d · Net gain or loss

total $42,979 · related or exempt $42,979

10a · Gross sales of inventory

$30,972

10b · Cost of goods sold

$25,898

10c · Net income from sales of inventory

total $5,074 · related or exempt $5,074

11a · Other revenue: OTHER NON-OPERATING INC

total $4,414 · related or exempt $4,414

11e · Other revenue, total

$4,414

5 · Compensation of officers, directors and key employees

total $477,810

7 · Other salaries and wages

total $2,506,279

8 · Pension plan contributions

total $764,706

9 · Other employee benefits

total $755,480

10 · Payroll taxes

total $214,302

11b · Fees: legal

total $5,192

11c · Fees: accounting

total $13,500

12 · Advertising and promotion

total -$173

13 · Office expenses

total $40,243

14 · Information technology

total $34,717

20 · Interest

total $1,326,997

22 · Depreciation, depletion and amortization

total $2,803,060

23 · Insurance

total $158,863

24a · Other expenses: PURCHASED POWER

total $20,626,975 · program services $20,626,975

24b · Other expenses: ADMIN & GENERAL

total $1,571,681 · program services $1,571,681

24c · Other expenses: DISTRIBUTION - MAINTENANCE

total $1,885,404 · program services $1,885,404

24d · Other expenses: DISTRIBUTION - OPERATIONS

total $1,140,810 · program services $1,140,810

24e · All other expenses

total -$4,281,414

1 · Cash, non-interest-bearing

beginning of year $800 · end of year $800

2 · Savings and temporary cash investments

beginning of year $1,273,410 · end of year $827,774

4 · Accounts receivable

beginning of year $1,314,381 · end of year $1,099,661

8 · Inventories for sale or use

beginning of year $3,176,284 · end of year $2,289,529

9 · Prepaid expenses and deferred charges

beginning of year $614,362 · end of year $638,811

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

$98,392,964

10b · Land, buildings and equipment: accumulated depreciation

$37,734,530

10c · Land, buildings and equipment, net

beginning of year $57,401,992 · end of year $60,658,434

13 · Investments: program-related

beginning of year $19,560,926 · end of year $19,570,707

17 · Accounts payable and accrued expenses

beginning of year $2,163,615 · end of year $1,758,153

23 · Secured mortgages and notes payable

beginning of year $37,838,960 · end of year $35,868,260

24 · Unsecured notes and loans payable

end of year $3,100,000

25 · Other liabilities

beginning of year $741,983 · end of year $587,783

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

beginning of year $25,217,077 · end of year $26,392,293

31 · Retained earnings, endowment or other funds

beginning of year $17,380,520 · end of year $17,379,227