Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Sale of Power & Other Services

  total $41,046,657 · related or exempt $41,046,657

• 3 · Investment income

  total $61,762 · excluded $61,762

• 7a · Gross sales of assets other than inventory

  other assets $39,515

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

  other assets $0

• 7c · Gain or loss

  other assets $39,515

• 7d · Net gain or loss

  total $39,515 · excluded $39,515

• 10a · Gross sales of inventory

  $19,997

• 10b · Cost of goods sold

  $9,768

• 10c · Net income from sales of inventory

  total $10,229 · related or exempt $8,255 · unrelated business $1,974

• 11a · Other revenue: Capital Credits

  total $581,793 · related or exempt $581,793

• 11e · Other revenue, total

  $581,793

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $15,752

• 4 · Benefits paid to or for members

  total $1,113,625

• 5 · Compensation of officers, directors and key employees

  total $572,669

• 7 · Other salaries and wages

  total $668,267

• 8 · Pension plan contributions

  total $13,306

• 9 · Other employee benefits

  total $54,644

• 12 · Advertising and promotion

  total $70,578

• 13 · Office expenses

  total $19,736

• 14 · Information technology

  total $227,092

• 19 · Conferences, conventions and meetings

  total $30,512

• 20 · Interest

  total $3,229,929

• 22 · Depreciation, depletion and amortization

  total $5,665,674

• 23 · Insurance

  total $42,572

• 24a · Other expenses: Cost of Power

  total $20,416,025

• 24b · Other expenses: Dist Exp - Operating

  total $2,718,502

• 24c · Other expenses: Dist Exp - Maintenance

  total $2,209,132

• 24d · Other expenses: Sales Expense

  total $999,425

• 24e · All other expenses

  total $2,178,516

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,772,254 · end of year $882,773

• 2 · Savings and temporary cash investments

  beginning of year $149,615 · end of year $379,914

• 4 · Accounts receivable

  beginning of year $4,221,814 · end of year $4,551,158

• 8 · Inventories for sale or use

  beginning of year $3,131,269 · end of year $5,100,721

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,489,795 · end of year $1,767,241

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

  $178,991,203

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

  $49,373,522

• 10c · Land, buildings and equipment, net

  beginning of year $123,385,465 · end of year $129,617,681

• 13 · Investments: program-related

  beginning of year $10,153,359 · end of year $9,999,625

• 14 · Intangible assets

  beginning of year $152,931 · end of year $155,250

• 15 · Other assets

  beginning of year $26,248 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $4,294,951 · end of year $4,596,137

• 19 · Deferred revenue

  beginning of year $142,511 · end of year $141,394

• 23 · Secured mortgages and notes payable

  beginning of year $99,402,301 · end of year $100,806,710

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $3,000,000

• 25 · Other liabilities

  beginning of year $2,263,174 · end of year $2,702,468

• 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 $39,379,813 · end of year $41,207,654

The filer's explanations (Part III)

Schedule J, Part II, Column C

Included in the amount reported in column C is $91,734 for the change in actuarial value of the defined benefit plan for Jeremy Richert. Actual Cooperative contributions to the plan were $33,281. Included in the amount reported in column C is $67,470 for the change in actuarial value of the defined benefit plan for Dan Schulte. Actual Cooperative contributions to the plan were $20,398. Included in the amount reported in column C is $38,804 for the change in actuarial value of the defined benefit plan for Brent Wegmann. Actual Cooperative contributions to the plan were $20,506. Included in the amount reported in column C is $29,494 for the change in actuarial value of the defined benefit plan for Kelly Gibbs. Actual Cooperative contributions to the plan were $20,801. Included in the amount reported in column C is $56,669 for the change in actuarial value of the defined benefit plan for Dean Koopmann. Actual Cooperative contributions to the plan were $17,622. Included in the amount reported in column C is $15,215 for the change in actuarial value of the defined benefit plan for Anthony Sheridan. Actual Cooperative contributions to the plan were $14,272.