Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Sale of Electricity

  total $68,515,613 · related or exempt $68,515,613

• 2b · Program service revenue: Service Fees

  total $1,809,775 · related or exempt $1,809,775

• 2c · Program service revenue: RENEWABLE ENERGY CREDITS

  total $1,545,054 · related or exempt $1,545,054

• 2d · Program service revenue: Patronage Dividends

  total $1,129,850 · related or exempt $1,129,850

• 2e · Program service revenue: Electric Wheeling

  total $13,712 · related or exempt $13,712

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $1,567,937 · unrelated business $684,182 · excluded $883,755

• 6a · Gross rents

  real property $3,478,830 · personal property $358,323

• 6b · Less rental expenses

  real property $8,094,175

• 6c · Rental income or loss

  real property -$4,615,345 · personal property $358,323

• 6d · Net rental income or loss

  total -$4,257,022 · unrelated business -$4,682,431 · excluded $425,409

• 7a · Gross sales of assets other than inventory

  other assets $2,064,343

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

  other assets $2,017,855

• 7c · Gain or loss

  securities $0 · other assets $46,488

• 7d · Net gain or loss

  total $46,488 · excluded $46,488

• 11a · Other revenue: Grants for Fiber Sub

  total $5,164,819 · unrelated business $5,164,819

• 11b · Other revenue: MANAGEMENT FEES FROM DMEAUS

  total $3,005,233 · unrelated business $3,005,233

• 11c · Other revenue: Dispatch Services

  total $343,986 · unrelated business $343,986

• 11d · All other revenue

  total $95,159 · related or exempt $0 · unrelated business $0 · excluded $95,159

• 11e · Other revenue, total

  $8,609,197

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $200,446

• 4 · Benefits paid to or for members

  total $6,867,065

• 5 · Compensation of officers, directors and key employees

  total $1,876,914

• 7 · Other salaries and wages

  total $6,420,121

• 8 · Pension plan contributions

  total $1,433,612

• 9 · Other employee benefits

  total $1,036,265

• 10 · Payroll taxes

  total $659,172

• 11b · Fees: legal

  total $351,088

• 11c · Fees: accounting

  total $85,938

• 11d · Fees: lobbying

  total $71,511

• 11g · Fees: other

  total $0

• 12 · Advertising and promotion

  total $70,978

• 20 · Interest

  total $4,988,954

• 22 · Depreciation, depletion and amortization

  total $6,627,208

• 24a · Other expenses: Purchased Power

  total $39,791,458

• 24b · Other expenses: Taxes

  total $6,149,760

• 24c · Other expenses: Admin & General Expense

  total $3,132,069

• 24d · Other expenses: Distribution Expense

  total $2,303,477

• 24e · All other expenses

  total $500,659

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $415,075 · end of year $10,721,023

• 2 · Savings and temporary cash investments

  beginning of year $2,219,774 · end of year $1,820,666

• 4 · Accounts receivable

  beginning of year $11,843,504 · end of year $11,520,806

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  end of year $0

• 7 · Other notes and loans receivable

  beginning of year $14,171,239 · end of year $13,668,562

• 8 · Inventories for sale or use

  beginning of year $6,191,844 · end of year $5,910,601

• 9 · Prepaid expenses and deferred charges

  beginning of year $217,563 · end of year $586,221

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

  $312,051,812

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

  $118,077,323

• 10c · Land, buildings and equipment, net

  beginning of year $171,823,694 · end of year $193,974,489

• 12 · Investments: other securities

  beginning of year $0 · end of year $3,790,000

• 13 · Investments: program-related

  beginning of year $24,562,734 · end of year $2,846,320

• 15 · Other assets

  beginning of year $14,726,952 · end of year $16,124,223

• 17 · Accounts payable and accrued expenses

  beginning of year $12,310,145 · end of year $15,358,847

• 19 · Deferred revenue

  beginning of year $10,431,729 · end of year $15,162,948

• 21 · Escrow or custodial account liability

  beginning of year $1,076,054 · end of year $853,523

• 22 · Loans and payables to officers and key people

  end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $138,311,459 · end of year $137,666,647

• 25 · Other liabilities

  beginning of year $22,531,663 · end of year $32,022,333

• 31 · Retained earnings, endowment or other funds

  beginning of year $61,511,329 · end of year $59,898,613

The filer's explanations (Part III)

Schedule J, 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.

Schedule J, Part II, Column (C)

JACK JOHNSTON TOTAL REPORTED IN COLUMN C 40,625 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 0 ADD: CASH CONTRIBUTED TO DEFINED BENEFIT PLAN 0 -------------------------------------------------------------------------------------------- EXPENSE TO THE COOPERATIVE 40,625

Schedule J, Part II, Column (C)

GAYLE GOUKER TOTAL REPORTED IN COLUMN C 26,875 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 0 ADD: CASH CONTRIBUTED TO DEFINED BENEFIT PLAN 0 -------------------------------------------------------------------------------------------- EXPENSE TO THE COOPERATIVE 26,875

Schedule J, Part II, Column (C)

B. KENT BLACKWELL TOTAL REPORTED IN COLUMN C 28,293 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 0 ADD: CASH CONTRIBUTED TO DEFINED BENEFIT PLAN 0 -------------------------------------------------------------------------------------------- EXPENSE TO THE COOPERATIVE 28,293

Schedule J, Part II, Column (C)

BOB FARMER TOTAL REPORTED IN COLUMN C 26,875 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 0 ADD: CASH CONTRIBUTED TO DEFINED BENEFIT PLAN 0 -------------------------------------------------------------------------------------------- EXPENSE TO THE COOPERATIVE 26,875

Schedule J, Part II, Column (C)

MATEUSZ PENA TOTAL REPORTED IN COLUMN C 22,444 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 0 ADD: CASH CONTRIBUTED TO DEFINED BENEFIT PLAN 0 -------------------------------------------------------------------------------------------- EXPENSE TO THE COOPERATIVE 22,444

Schedule J, Part II, Column (C)

CODY CARVER TOTAL REPORTED IN COLUMN C 20,289 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 20,289 ADD: CASH CONTRIBUTED TO DEFINED BENEFIT PLAN 23,490 -------------------------------------------------------------------------------------------- EXPENSE TO THE COOPERATIVE 23,490

Schedule J, Part II, Column (C)

NATHAN PUDERBAUGH TOTAL REPORTED IN COLUMN C 30,643 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 30,643 ADD: CASH CONTRIBUTED TO DEFINED BENEFIT PLAN 18,790 -------------------------------------------------------------------------------------------- EXPENSE TO THE COOPERATIVE 18,790

Schedule J, Part II, Column (C)

STEVEN HOLST TOTAL REPORTED IN COLUMN C 12,343 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 12,343 ADD: CASH CONTRIBUTED TO DEFINED BENEFIT PLAN 19,532 -------------------------------------------------------------------------------------------- EXPENSE TO THE COOPERATIVE 19,532

Schedule J, Part II, Column (C)

IVOR AYES TOTAL REPORTED IN COLUMN C 26,322 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 26,322 ADD: CASH CONTRIBUTED TO DEFINED BENEFIT PLAN 19,532 -------------------------------------------------------------------------------------------- EXPENSE TO THE COOPERATIVE 19,532

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• DMEA UTILITIES SERVICES LLC

  C Corporation · BROADBAND · CO · 100% owned · share of income $13,426,122 · share of assets $24,342,376 · controlled entity

  Directly controlled by DMEA