Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC SERVICE

  total $15,048,864 · related or exempt $15,048,864

• 3 · Investment income

  total $133,466 · excluded $133,466

• 6a · Gross rents

  real property $25,590

• 6b · Less rental expenses

  real property $2,037

• 6c · Rental income or loss

  real property $23,553

• 6d · Net rental income or loss

  total $23,553 · excluded $23,553

• 10a · Gross sales of inventory

  $35,446

• 10b · Cost of goods sold

  $12,768

• 10c · Net income from sales of inventory

  total $22,678 · related or exempt $5,024 · unrelated business $17,654

• 11a · Other revenue: CAPITAL CREDITS

  total $706,842 · related or exempt $706,842

• 11b · Other revenue: MISC INCOME

  total $289,568 · related or exempt $289,568

• 11e · Other revenue, total

  $996,410

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $2,130,541

• 5 · Compensation of officers, directors and key employees

  total $335,462

• 20 · Interest

  total $829,099

• 22 · Depreciation, depletion and amortization

  total $1,259,057

• 24a · Other expenses: PURCHASED POWER

  total $8,765,402

• 24b · Other expenses: DISTRIBUTION EXPENSE -

  total $963,074

• 24c · Other expenses: ADMINISTRATIVE AND GENE

  total $940,023

• 24d · Other expenses: DISTRIBUTION EXPENSE -

  total $608,907

• 24e · All other expenses

  total $393,406

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  end of year $2

• 2 · Savings and temporary cash investments

  beginning of year $3,444,746 · end of year $3,224,728

• 4 · Accounts receivable

  beginning of year $970,964 · end of year $1,057,888

• 7 · Other notes and loans receivable

  beginning of year $73,766 · end of year $42,152

• 8 · Inventories for sale or use

  beginning of year $1,011,003 · end of year $945,130

• 9 · Prepaid expenses and deferred charges

  beginning of year $124,175 · end of year $118,980

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

  $44,060,833

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

  $13,329,749

• 10c · Land, buildings and equipment, net

  beginning of year $29,305,595 · end of year $30,731,084

• 12 · Investments: other securities

  beginning of year $8,647,208 · end of year $9,045,791

• 17 · Accounts payable and accrued expenses

  beginning of year $1,046,681 · end of year $1,244,372

• 19 · Deferred revenue

  beginning of year $0 · end of year $600,000

• 23 · Secured mortgages and notes payable

  beginning of year $23,716,143 · end of year $22,984,809

• 24 · Unsecured notes and loans payable

  beginning of year $41,548 · end of year $41,528

• 25 · Other liabilities

  beginning of year $16,600 · end of year $17,500

• 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 $627,938 · end of year $694,465

• 31 · Retained earnings, endowment or other funds

  beginning of year $18,128,547 · end of year $19,583,081

The filer's explanations (Part III)

PART I, LINE 3

OUR HR CONSULTANT MEETS WITH THE BOARD OF DIRECTORS AND FACILITATES THE GM ANNUAL PERFORMANCE REVIEW AND GIVES THE BOARD SALARY COMPARISONS FROM OTHER MN CO-OP'S OUR SIZE AND RECOMMEND A SALARY RANGE. THE BOARD THEN DECIDES ON THE GM'S SALARY.