Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE

  total $21,584,593 · related or exempt $21,584,593

• 3 · Investment income

  total $37,730 · excluded $37,730

• 7a · Gross sales of assets other than inventory

  other assets $78,182

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

  other assets $17,515

• 7c · Gain or loss

  other assets $60,667

• 7d · Net gain or loss

  total $60,667 · related or exempt $60,667

• 10a · Gross sales of inventory

  $98,169

• 10b · Cost of goods sold

  $136,715

• 10c · Net income from sales of inventory

  total -$38,546 · related or exempt -$38,546

• 11a · Other revenue: CAPITAL CREDITS

  total $1,051,475 · related or exempt $1,051,475

• 11b · Other revenue: MISCELLANEOUS REVENUE

  total $276,053 · excluded $276,053

• 11e · Other revenue, total

  $1,327,528

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,745,725

• 5 · Compensation of officers, directors and key employees

  total $843,968

• 8 · Pension plan contributions

  total $584,071

• 20 · Interest

  total $1,238,473

• 22 · Depreciation, depletion and amortization

  total $1,574,575

• 24a · Other expenses: COST OF POWER

  total $13,566,428

• 24b · Other expenses: ADMINISTRATIVE AND GENE

  total $1,595,767

• 24c · Other expenses: DISTRIBUTION - OPERATIO

  total $1,406,190

• 24d · Other expenses: DISTRIBUTION - MAINTENA

  total $983,942

• 24e · All other expenses

  total -$567,167

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $296 · end of year $296

• 2 · Savings and temporary cash investments

  beginning of year $982,859 · end of year $805,857

• 4 · Accounts receivable

  beginning of year $3,196,825 · end of year $3,099,216

• 7 · Other notes and loans receivable

  beginning of year $169,250 · end of year $136,250

• 8 · Inventories for sale or use

  beginning of year $3,542,845 · end of year $2,647,022

• 9 · Prepaid expenses and deferred charges

  beginning of year $986,474 · end of year $1,008,326

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

  $58,105,524

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

  $15,237,171

• 10c · Land, buildings and equipment, net

  beginning of year $41,773,691 · end of year $42,868,353

• 13 · Investments: program-related

  beginning of year $10,677,677 · end of year $11,413,327

• 17 · Accounts payable and accrued expenses

  beginning of year $1,671,668 · end of year $1,734,702

• 23 · Secured mortgages and notes payable

  beginning of year $36,588,537 · end of year $36,129,094

• 25 · Other liabilities

  beginning of year $1,103,257 · end of year $944,336

• 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 $21,966,455 · end of year $23,170,515

The filer's explanations (Part III)

PART I, LINE 3

THE BOARD USES STATE COMPARABILITY DATA FROM THE NDAREC SURVEY TO DETERMINE THE GENERAL MANAGER'S COMPENSATION.