Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: OTHER CAPITAL CREDIT

  total $1,069,518 · related or exempt $1,069,518

• 2b · Program service revenue: POLE RENTAL

  total $306,768 · related or exempt $306,768

• 2c · Program service revenue: GAIN FROM EQUITY INVESTMENTS

  total $10,193 · related or exempt $10,193

• 3 · Investment income

  total $743,682 · related or exempt $743,682

• 7a · Gross sales of assets other than inventory

  other assets $50,148

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

  other assets $28,509

• 7c · Gain or loss

  other assets $21,639

• 7d · Net gain or loss

  total $21,639 · related or exempt $21,639

• 10a · Gross sales of inventory

  $50,198,869

• 10b · Cost of goods sold

  $26,228,497

• 10c · Net income from sales of inventory

  total $23,970,372 · related or exempt $23,970,372

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $3,072,375 · program services $3,072,375

• 5 · Compensation of officers, directors and key employees

  total $86,000 · program services $86,000

• 7 · Other salaries and wages

  total $4,680,758 · program services $4,680,758

• 8 · Pension plan contributions

  total $1,289,130 · program services $1,289,130

• 9 · Other employee benefits

  total $2,098,760 · program services $2,098,760

• 10 · Payroll taxes

  total $454,111 · program services $454,111

• 11b · Fees: legal

  total $35,218 · program services $35,218

• 11c · Fees: accounting

  total $22,600 · program services $22,600

• 13 · Office expenses

  total $526,872 · program services $526,872

• 14 · Information technology

  total $31,665 · program services $31,665

• 17 · Travel

  total $15,908 · program services $15,908

• 20 · Interest

  total $2,293,844 · program services $2,293,844

• 22 · Depreciation, depletion and amortization

  total $4,711,566 · program services $4,711,566

• 23 · Insurance

  total $90,490 · program services $90,490

• 24a · Other expenses: OPERATIONS & MAINTENANC

  total $4,505,102 · program services $4,505,102

• 24b · Other expenses: TAXES AND LICENSES

  total $1,067,582 · program services $1,067,582

• 24c · Other expenses: ADMINISTRATIVE & GENERA

  total $603,886 · program services $603,886

• 24d · Other expenses: CUSTOMER SALES & SERVIC

  total $300,181 · program services $300,181

• 24e · All other expenses

  total $236,124 · program services $236,124

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $972,213 · end of year $578,895

• 2 · Savings and temporary cash investments

  beginning of year $3,961,330 · end of year $3,268,141

• 4 · Accounts receivable

  beginning of year $5,817,192 · end of year $6,546,242

• 7 · Other notes and loans receivable

  beginning of year $26,924 · end of year $19,821

• 8 · Inventories for sale or use

  beginning of year $2,662,243 · end of year $2,159,741

• 9 · Prepaid expenses and deferred charges

  beginning of year $148,714 · end of year $102,981

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

  $163,421,296

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

  $37,776,834

• 10c · Land, buildings and equipment, net

  beginning of year $116,559,012 · end of year $125,644,462

• 15 · Other assets

  beginning of year $18,288,947 · end of year $19,200,310

• 17 · Accounts payable and accrued expenses

  beginning of year $9,154,189 · end of year $8,339,582

• 19 · Deferred revenue

  beginning of year $8,650,000 · end of year $8,650,000

• 23 · Secured mortgages and notes payable

  beginning of year $82,096,182 · end of year $88,856,070

• 25 · Other liabilities

  beginning of year $219,077 · end of year $286,422

• 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 $48,317,127 · end of year $51,388,519

The filer's explanations (Part III)

SCH J. PAGE 2,PART II COL. C

COLUMN C INCLUDES ACTUARIAL INCREASES IN DEFINED BENEFIT PLAN AND HOEC 401K MATCH CONTRIBUTION OVERVIEW OF PLAN: PART II, COLUMN C: INCLUDED IS THE INCREASE (DECREASE) IN ACTUARIAL VALUE OF BENEFITS PAYABLE IN THE FUTURE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA RS 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 AND ALL OTHER THINGS BEING EQUAL, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE (DECREASE) ARE EXPENSED IN THE FINANCIAL STATEMENTS. BENEFITS REPORTED FOR PARTICIPATION IN NON-QUALIFIED RETIREMENT AND DEFERRED COMPENSATION PLANS ARE SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE UNTIL VESTING UNDER THE PLAN OCCURS. RECONCILIATION OF PART II, COLUMN C TO ACTUAL EXPENSE OF THE COOPERATIVE: DAN SINGLETARY ACTUARIAL INCREASE IN DB PLAN $ 92,818 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 14,456 TOTAL REPORTED IN COLUMN C $107,274 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 92,818> ADD: CASH CONTRIBUTIONS TO DB PLAN 82,769 EXPENSE TO THE COOPERATIVE $97,226 COMPENSATION FROM ASSOCIATED ORGANIZATIONS $17,898 LESS AMOUNT PAID BY SHO-ME < 17,898> EXPENSE TO THE COOPERATIVE $ 0 NONTAXABLE COMPENSATION FROM ASSOCIATED ORGANIZATIONS $ 16 LESS AMOUNT PAID BY SHO-ME < 16> EXPENSE TO THE COOPERATIVE $ 0 TRACY BROWER ACTUARIAL INCREASE IN DB PLAN $ 88,521 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 6,760 TOTAL REPORTED IN COLUMN C $ 95,282 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 88,521> ADD: CASH CONTRIBUTIONS TO DB PLA 38,574 EXPENSE TO THE COOPERATIVE $ 45,334 TROY HOGSETT ACTUARIAL INCREASE IN DB PLAN $ 85,700 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 7,013 TOTAL REPORTED IN COLUMN C $ 92,713 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 85,700> ADD: CASH CONTRIBUTIONS TO DB PLA 40,150 EXPENSE TO THE COOPERATIVE $ 47,163 SCOTT WARD ACTUARIAL INCREASE IN DB PLAN $ 37,790 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 3,592 TOTAL REPORTED IN COLUMN C $ 41,382 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 37,790> ADD: CASH CONTRIBUTIONS TO DB PLA 33,798 EXPENSE TO THE COOPERATIVE $ 37,390 CARL GIVENS ACTUARIAL INCREASE IN DB PLAN $ 45,388 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 4,358 TOTAL REPORTED IN COLUMN C $ 49,747 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 45,388> ADD: CASH CONTRIBUTIONS TO DB PLA 25,199 EXPENSE TO THE COOPERATIVE $ 29,558 BENNIE PERKINS ACTUARIAL INCREASE IN DB PLAN $ 34,831 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 4,498 TOTAL REPORTED IN COLUMN C $ 39,329 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 34,831> ADD: CASH CONTRIBUTIONS TO DB PLA 25,745 EXPENSE TO THE COOPERATIVE $ 30,244 JUSTIN WILSON ACTUARIAL INCREASE IN DB PLAN $ 8,741 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 3,915 TOTAL REPORTED IN COLUMN C $ 12,656 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 8,741> ADD: CASH CONTRIBUTIONS TO DB PLA 16,143 EXPENSE TO THE COOPERATIVE $ 20,059 RYAN DANIEL ACTUARIAL INCREASE IN DB PLAN $ 4,517 EMPLOYER CONTRIBUTIONS TO 401(K) PLAN 3,984 TOTAL REPORTED IN COLUMN C $ 8,501 LESS: ACTUARIAL INCREASE IN DB PLAN <$ 4,517> ADD: CASH CONTRIBUTIONS TO DB PLA 14,601 EXPENSE TO THE COOPERATIVE $ 18,586 *DB - DEFINED BENEFIT PENSION PLAN

SCH J. PAGE 2, PART II COL. B

RECONCILIATION OF PART II, B TO ACTUAL EXPENSE OF THE COOPERATIVE: DAN SINGLETARY BASE COMPENSATION FROM RELATED ORGANIZATIONS $ 46,900 LESS AMOUNT PAID BY ASSOC. ELECTRIC COOP. < 32,800> LESS AMOUNT PAID BY SHO-ME < 14,100> EXPENSE TO THE COOPERATIVE $ 0

Related corporations and trusts

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

• HOWELL-OREGON TECHNOLOGIES LLC

  C · WHOLLY OWNED SUB · MO · 100% owned · share of income $10,193 · share of assets $125,825

• HOWELL-OREGON SERVICE CORP

  C · INACTIVE WHOLLY OWNED SUB · MO · 100% owned · share of assets $500

• SHO-ME POWER ELECTRIC COOPERATIVE

  C · ELECTRIC POWER TRANSMISSION · MO · 11.11% owned · share of income $28,868,113 · share of assets $57,607,905