Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $120,959,810 · related or exempt $120,959,810

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $7,393,604 · related or exempt $7,393,604

• 2c · Program service revenue: SERVICE FEES

  total $541,103 · related or exempt $541,103

• 3 · Investment income

  total $438,418 · excluded $438,418

• 5 · Royalties

  total $75,110 · excluded $75,110

• 7a · Gross sales of assets other than inventory

  other assets $4,545

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

  other assets $0

• 7c · Gain or loss

  other assets $4,545

• 7d · Net gain or loss

  total $4,545 · related or exempt $4,545

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $39,528 · excluded $39,528

• 11e · Other revenue, total

  $39,528

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $52,074

• 2 · Grants to domestic individuals

  total $7,500

• 4 · Benefits paid to or for members

  total $8,117,263

• 5 · Compensation of officers, directors and key employees

  total $414,772

• 7 · Other salaries and wages

  total $5,586,563

• 8 · Pension plan contributions

  total $779,284

• 9 · Other employee benefits

  total $1,548,919

• 10 · Payroll taxes

  total $444,766

• 20 · Interest

  total $983,038

• 22 · Depreciation, depletion and amortization

  total $10,589,582

• 24a · Other expenses: PURCHASED POWER

  total $93,435,604

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $2,985,051

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $2,426,333

• 24d · Other expenses: CONSUMER EXPENSE

  total $799,135

• 24e · All other expenses

  total $281,234

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $11,487,890 · end of year $9,521,085

• 2 · Savings and temporary cash investments

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

• 4 · Accounts receivable

  beginning of year $6,916,718 · end of year $7,014,746

• 8 · Inventories for sale or use

  beginning of year $8,518,215 · end of year $8,808,428

• 9 · Prepaid expenses and deferred charges

  beginning of year $272,794 · end of year $215,395

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

  $177,123,978

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

  $51,555,896

• 10c · Land, buildings and equipment, net

  beginning of year $123,001,454 · end of year $125,568,082

• 12 · Investments: other securities

  beginning of year $293,757 · end of year $293,957

• 13 · Investments: program-related

  beginning of year $61,528,092 · end of year $68,696,102

• 15 · Other assets

  beginning of year $8,722,399 · end of year $9,770,869

• 17 · Accounts payable and accrued expenses

  beginning of year $7,689,806 · end of year $9,076,930

• 21 · Escrow or custodial account liability

  beginning of year $117,435 · end of year $244,993

• 23 · Secured mortgages and notes payable

  beginning of year $20,406,886 · end of year $19,235,702

• 25 · Other liabilities

  beginning of year $16,755,025 · end of year $17,475,400

• 29 · Capital stock, trust principal or current funds

  beginning of year $91,615 · end of year $73,170

• 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 $178,680,552 · end of year $186,782,469

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, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIORNMENT. 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. ERIC HALFMANN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,433 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,050 TOTAL REPORTED IN COLUMN C $ 15,483 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,433) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 27,936 EXPENSE TO THE COOPERATIVE $ 31,986 RANDY ORTIZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,531 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,004 TOTAL REPORTED IN COLUMN C $ 9,535 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN ( 6,531) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,850 EXPENSE TO THE COOPERATIVE $ 17,854 PATRICK JANYSEK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 23,435 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,608 TOTAL REPORTED IN COLUMN C $ 28,043 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (23,435) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 23,103 EXPENSE TO THE COOPERATIVE $ 27,711 JOE ESCANDON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,987 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,396 TOTAL REPORTED IN COLUMN C $ 21,383 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,987) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 16,932 EXPENSE TO THE COOPERATIVE $ 20,328 PAUL RODRIGUEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 4,680 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,008 TOTAL REPORTED IN COLUMN C $ 7,688 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (4,680) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,527 EXPENSE TO THE COOPERATIVE $ 17,535 JESSE BENAVIDES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 5,513 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,196 TOTAL REPORTED IN COLUMN C $ 9,709 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (5,513) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,716 EXPENSE TO THE COOPERATIVE $ 24,912