Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $60,945,539 · related or exempt $60,945,539

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $1,274,861 · related or exempt $1,274,861

• 2c · Program service revenue: SERVICE FEES

  total $532,716 · related or exempt $532,716

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $3,296 · related or exempt $3,296

• 3 · Investment income

  total $45,362 · excluded $45,362

• 6a · Gross rents

  real property $6,523

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $6,523

• 6d · Net rental income or loss

  total $6,523 · excluded $6,523

• 7a · Gross sales of assets other than inventory

  other assets $133,145

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

  other assets $1,916

• 7c · Gain or loss

  other assets $131,229

• 7d · Net gain or loss

  total $131,229 · related or exempt $131,229

• 10a · Gross sales of inventory

  $53,713

• 10b · Cost of goods sold

  $9,547

• 10c · Net income from sales of inventory

  total $44,166 · related or exempt $44,166

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $5,852 · excluded $5,852

• 11e · Other revenue, total

  $5,852

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $7,713

• 4 · Benefits paid to or for members

  total $5,782,057

• 5 · Compensation of officers, directors and key employees

  total $408,139

• 7 · Other salaries and wages

  total $3,290,622

• 8 · Pension plan contributions

  total $894,030

• 9 · Other employee benefits

  total $358,751

• 10 · Payroll taxes

  total $262,342

• 20 · Interest

  total $1,760,095

• 22 · Depreciation, depletion and amortization

  total $4,429,786

• 24a · Other expenses: PURCHASED POWER

  total $41,980,936

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $1,972,406

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $1,079,173

• 24d · Other expenses: CONSUMER EXPENSE

  total $532,041

• 24e · All other expenses

  total $231,453

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,133,582 · end of year $1,097,493

• 2 · Savings and temporary cash investments

  end of year $5,929

• 4 · Accounts receivable

  beginning of year $3,411,648 · end of year $3,173,042

• 7 · Other notes and loans receivable

  beginning of year $191,593 · end of year $183,704

• 8 · Inventories for sale or use

  beginning of year $3,069,829 · end of year $3,256,342

• 9 · Prepaid expenses and deferred charges

  beginning of year $10,110,541 · end of year $4,580,157

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

  $149,596,015

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

  $51,343,330

• 10c · Land, buildings and equipment, net

  beginning of year $89,791,872 · end of year $98,252,685

• 11 · Investments: publicly traded securities

  beginning of year $6,792,456 · end of year $5,523,711

• 12 · Investments: other securities

  beginning of year $28,635 · end of year $28,744

• 13 · Investments: program-related

  beginning of year $23,733,044 · end of year $23,877,802

• 15 · Other assets

  beginning of year $2,591,945 · end of year $3,092,186

• 17 · Accounts payable and accrued expenses

  beginning of year $4,626,259 · end of year $5,439,046

• 23 · Secured mortgages and notes payable

  beginning of year $50,671,974 · end of year $46,266,163

• 25 · Other liabilities

  beginning of year $7,484,609 · end of year $9,325,899

• 29 · Capital stock, trust principal or current funds

  beginning of year $74,345 · end of year $77,150

• 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 $78,997,958 · end of year $81,963,537

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. 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 CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. KOONEY DUNCAN: TOTAL REPORTED IN COLUMN C $139,013 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (139,013) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 81,666 EXPENSE TO THE COOPERATIVE $ 81,666 DARREN FRAZIER: TOTAL REPORTED IN COLUMN C $ 51,911 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (51,911) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,484 EXPENSE TO THE COOPERATIVE $ 30,484