Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $65,697,254 · related or exempt $65,697,254

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $2,382,308 · related or exempt $2,382,308

• 2c · Program service revenue: SERVICE FEES

  total $1,165,246 · related or exempt $1,165,246

• 2d · Program service revenue: OTHER PROGRAM REVENUES

  total $196,890 · related or exempt $196,890

• 3 · Investment income

  total $85,598 · excluded $85,598

• 7a · Gross sales of assets other than inventory

  other assets $100,559

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

  other assets $0

• 7c · Gain or loss

  other assets $100,559

• 7d · Net gain or loss

  total $100,559 · related or exempt $100,559

• 11a · Other revenue: MERCHANDISING/HVAC JOBBING

  total $140,192 · unrelated business $140,192

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $12,735 · excluded $12,735

• 11e · Other revenue, total

  $152,927

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $35,564

• 4 · Benefits paid to or for members

  total $5,714,610

• 5 · Compensation of officers, directors and key employees

  total $1,541,613

• 7 · Other salaries and wages

  total $4,518,620

• 8 · Pension plan contributions

  total $888,284

• 9 · Other employee benefits

  total $987,916

• 10 · Payroll taxes

  total $346,774

• 20 · Interest

  total $4,508,191

• 22 · Depreciation, depletion and amortization

  total $7,733,837

• 24a · Other expenses: PURCHASED POWER

  total $36,565,755

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $3,764,390

• 24c · Other expenses: ADMINISTRATIVE & GENERA

  total $1,550,712

• 24d · Other expenses: CONSUMER EXPENSE

  total $778,361

• 24e · All other expenses

  total $846,155

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,757,406 · end of year $1,578,135

• 2 · Savings and temporary cash investments

  beginning of year $54,596 · end of year $55,584

• 4 · Accounts receivable

  beginning of year $6,418,535 · end of year $5,462,007

• 7 · Other notes and loans receivable

  beginning of year $173,476 · end of year $1,313,253

• 8 · Inventories for sale or use

  beginning of year $3,768,363 · end of year $3,412,734

• 9 · Prepaid expenses and deferred charges

  beginning of year $472,358 · end of year $461,569

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

  $221,047,042

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

  $83,924,742

• 10c · Land, buildings and equipment, net

  beginning of year $130,728,284 · end of year $137,122,300

• 13 · Investments: program-related

  beginning of year $52,020,677 · end of year $53,091,872

• 15 · Other assets

  beginning of year $2,286,347 · end of year $1,985,597

• 17 · Accounts payable and accrued expenses

  beginning of year $9,192,167 · end of year $7,189,594

• 23 · Secured mortgages and notes payable

  beginning of year $96,716,111 · end of year $99,765,482

• 25 · Other liabilities

  beginning of year $1,244,211 · end of year $1,282,017

• 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 $90,527,553 · end of year $96,245,958

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 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. KIRK GIRARD: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 257,355 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,952 TOTAL REPORTED IN COLUMN C $ 266,307 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (257,355) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 89,090 EXPENSE TO THE COOPERATIVE $ 98,042 ALISHA STARK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 59,786 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,244 TOTAL REPORTED IN COLUMN C $ 66,030 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (59,786) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 58,908 EXPENSE TO THE COOPERATIVE $ 65,152 JAMES COASH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 39,761 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,492 TOTAL REPORTED IN COLUMN C $ 45,253 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (39,761) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 54,850 EXPENSE TO THE COOPERATIVE $ 60,342 APRIL KARNOPP: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 61,353 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,470 TOTAL REPORTED IN COLUMN C $ 65,823 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (61,353) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 44,596 EXPENSE TO THE COOPERATIVE $ 49,066 KODY POUNDS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,349 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,715 TOTAL REPORTED IN COLUMN C $ 13,064 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,349) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 53,907 EXPENSE TO THE COOPERATIVE $ 55,622 SHANE SCHUMAKER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 34,122 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,734 TOTAL REPORTED IN COLUMN C $ 38,856 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (34,122) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 47,176 EXPENSE TO THE COOPERATIVE $ 51,910 DAVID TIEMEYER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 50,920 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,489 TOTAL REPORTED IN COLUMN C $ 54,409 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (50,920) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,844 EXPENSE TO THE COOPERATIVE $ 38,333 ELENA LARSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 17,691 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 17,691 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (17,691) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 44,666 EXPENSE TO THE COOPERATIVE $ 44,666 JACOB EPLEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 16,452 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,415 TOTAL REPORTED IN COLUMN C $ 19,867 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (16,452) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 34,065 EXPENSE TO THE COOPERATIVE $ 37,480

Related corporations and trusts

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

• PRAIRIE LAND PLUS INC

  C · DORMANT CORPORATION · KS · 100% owned · controlled entity

  Directly controlled by PRAIRIE LAND ELECTRIC COOPERATIVE INC