Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $11,858,621 · related or exempt $11,858,621

• 2b · Program service revenue: G&T CAPITAL CREDITS

  total $485,903 · related or exempt $485,903

• 2c · Program service revenue: OTHER CAPITAL CREDITS & DIVIDENDS

  total $90,802 · related or exempt $90,802

• 2f · All other program service revenue

  total $33,224 · related or exempt $33,224

• 3 · Investment income

  total $49,026 · excluded $49,026

• 10a · Gross sales of inventory

  $1,583,214

• 10b · Cost of goods sold

  $1,534,058

• 10c · Net income from sales of inventory

  total $49,156 · related or exempt $54,900 · unrelated business -$5,744

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $923,249

• 5 · Compensation of officers, directors and key employees

  total $333,022

• 7 · Other salaries and wages

  total $1,788,393

• 8 · Pension plan contributions

  total $335,880

• 10 · Payroll taxes

  total $150,196

• 20 · Interest

  total $925,614

• 22 · Depreciation, depletion and amortization

  total $1,236,078

• 24a · Other expenses: FEDERAL INCOME TAX

  total $3,197

• 24b · Other expenses: COST OF PURCHASED POWER

  total $6,198,897

• 24c · Other expenses: DISTRIBUTION - OPERATIO

  total $583,291

• 24d · Other expenses: DISTRIBUTION - MAINTENA

  total $553,655

• 24e · All other expenses

  total -$513,896

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $849,352 · end of year $107,329

• 4 · Accounts receivable

  beginning of year $1,100,694 · end of year $1,374,440

• 7 · Other notes and loans receivable

  beginning of year $284,440 · end of year $214,068

• 8 · Inventories for sale or use

  beginning of year $1,425,978 · end of year $1,684,305

• 9 · Prepaid expenses and deferred charges

  beginning of year $993,558 · end of year $1,003,250

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

  $43,793,573

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

  $11,966,101

• 10c · Land, buildings and equipment, net

  beginning of year $29,799,707 · end of year $31,827,472

• 12 · Investments: other securities

  beginning of year $486,121 · end of year $88,333

• 13 · Investments: program-related

  beginning of year $7,863,059 · end of year $8,284,430

• 17 · Accounts payable and accrued expenses

  beginning of year $1,065,222 · end of year $1,115,467

• 23 · Secured mortgages and notes payable

  beginning of year $26,760,797 · end of year $28,434,975

• 25 · Other liabilities

  beginning of year $637,572 · end of year $256,175

• 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 $14,339,318 · end of year $14,777,010

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN (C)

THE AMOUNT REPORTED ON SCHEDULE J, PART II, COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR DAVID PAGE AND JONATHAN CHRISTENSEN OF $86,993 AND $23,981, RESPECTIVELY. THE ACTUAL CONTRIBUTION BY THE COOPERATIVE INTO THE DEFINED BENEFIT PLAN FOR DAVID AND JONATHAN WAS $44,076 AND $31,451, RESPECTIVELY.