Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE

  total $12,733,157 · related or exempt $12,733,157

• 2b · Program service revenue: MISC PROGRAM REVENUE

  total $75,074 · related or exempt $75,074

• 3 · Investment income

  total $57,378 · excluded $57,378

• 7a · Gross sales of assets other than inventory

  other assets $79,500

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

  other assets $25,936

• 7c · Gain or loss

  other assets $53,564

• 7d · Net gain or loss

  total $53,564 · excluded $53,564

• 10a · Gross sales of inventory

  $141,666

• 10b · Cost of goods sold

  $110,585

• 10c · Net income from sales of inventory

  total $31,081 · related or exempt $22,387 · unrelated business $8,694

• 11a · Other revenue: CAPITAL CREDITS

  total $297,020 · related or exempt $297,020

• 11b · Other revenue: MISCELLANEOUS REVENUE

  total $3,082 · related or exempt $3,082

• 11e · Other revenue, total

  $300,102

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $303,184

• 5 · Compensation of officers, directors and key employees

  total $238,228

• 20 · Interest

  total $739,283

• 22 · Depreciation, depletion and amortization

  total $1,335,197

• 24a · Other expenses: COST OF POWER

  total $7,015,755

• 24b · Other expenses: DISTRIBUTION EXPENSE -

  total $1,278,406

• 24c · Other expenses: DISTRIBUTION EXPENSE -

  total $793,084

• 24d · Other expenses: ADMINISTRATIVE AND GENE

  total $678,450

• 24e · All other expenses

  total $613,493

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $50,305 · end of year $67,675

• 2 · Savings and temporary cash investments

  beginning of year $954,788 · end of year $78,182

• 4 · Accounts receivable

  beginning of year $1,208,377 · end of year $1,537,534

• 7 · Other notes and loans receivable

  beginning of year $834,948 · end of year $755,101

• 8 · Inventories for sale or use

  beginning of year $617,685 · end of year $1,361,172

• 9 · Prepaid expenses and deferred charges

  beginning of year $117,154 · end of year $90,855

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

  $52,634,721

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

  $17,862,275

• 10c · Land, buildings and equipment, net

  beginning of year $32,887,186 · end of year $34,772,446

• 13 · Investments: program-related

  beginning of year $3,459,071 · end of year $3,365,603

• 15 · Other assets

  beginning of year $470,054 · end of year $561,363

• 17 · Accounts payable and accrued expenses

  beginning of year $1,519,045 · end of year $2,027,232

• 23 · Secured mortgages and notes payable

  beginning of year $20,394,838 · end of year $21,616,901

• 25 · Other liabilities

  beginning of year $262,701 · end of year $337,822

• 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 $18,422,984 · end of year $18,607,976

The filer's explanations (Part III)

PART I, LINE 1A

THE CEO'S WIFE SOMETIMES ACCOMPANIES HIM ON BUSINESS TRAVEL. THE COOPERATIVE COVERS HER TRAVEL EXPENSES. NO ADDITIONAL EXPENSES WERE INCURRED IN 2022 AS A RESULT OF THIS ARRANGEMENT.

PART I, LINE 3

THE CEO'S COMPENSATION IS REVIEWED ANNUALLY BY THE GOVERNING BOARD OF DIRECTORS. THIS PROCESS INCLUDES USING COMPARABILITY DATA OF SIMILAR POSITIONS IN THE ELECTRIC INDUSTRY, AS WELL AS OTHER INDUSTRIES.