Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC OPERATING REVENUE

  total $15,341,996 · related or exempt $15,341,996

• 3 · Investment income

  total $79,787 · excluded $79,787

• 10a · Gross sales of inventory

  $127,199

• 10b · Cost of goods sold

  $141,904

• 10c · Net income from sales of inventory

  total -$14,705 · related or exempt -$14,705

• 11a · Other revenue: CAPITAL CREDITS FROM OTHER COOPS

  total $227,406 · related or exempt $227,406

• 11e · Other revenue, total

  $227,406

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $662,907

• 5 · Compensation of officers, directors and key employees

  total $228,420

• 20 · Interest

  total $494,702

• 22 · Depreciation, depletion and amortization

  total $1,334,542

• 24a · Other expenses: COST OF POWER

  total $10,115,477

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $1,539,482

• 24c · Other expenses: CONSUMER EXPENSE

  total $635,127

• 24d · Other expenses: ADMINISTRATIVE & GENERA

  total $617,592

• 24e · All other expenses

  total $6,235

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,492,068 · end of year $1,309,093

• 2 · Savings and temporary cash investments

  beginning of year $2,138 · end of year $2,178

• 4 · Accounts receivable

  beginning of year $1,817,747 · end of year $1,584,641

• 8 · Inventories for sale or use

  beginning of year $866,103 · end of year $783,789

• 9 · Prepaid expenses and deferred charges

  beginning of year $67,072 · end of year $78,974

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

  $48,385,748

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

  $22,896,579

• 10c · Land, buildings and equipment, net

  beginning of year $25,174,762 · end of year $25,489,169

• 13 · Investments: program-related

  beginning of year $2,644,774 · end of year $2,866,983

• 15 · Other assets

  beginning of year $15,651 · end of year $1,155

• 17 · Accounts payable and accrued expenses

  beginning of year $1,372,422 · end of year $1,802,760

• 21 · Escrow or custodial account liability

  beginning of year $2,114 · end of year $2,077

• 23 · Secured mortgages and notes payable

  beginning of year $16,901,311 · end of year $16,706,709

• 25 · Other liabilities

  beginning of year $1,255,363 · end of year $907,048

• 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 $12,549,105 · end of year $12,697,388

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN "C" DEFERRED COMPENSATION:

INCLUDED IN SCHEDULE J, PART II, COLUMN "C", DEFERRED COMPENSATION, IS THE ESTIMATED ANNUAL INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN. THIS AMOUNT IS AN ESTIMATE IN THE INCREASE OF THE VALUE OF THE PLAN AND IS NOT A CURRENT YEAR EXPENSE OF THE COOPERATIVE. THE ESTIMATED ACTUARIAL INCREASE FOR OFFICERS AND HIGHEST COMPENSATED EMPLOYEES: STEPHANIE JOHNSON - $47,118 STEVE CONELY - $37,536 THE ACTUAL CURRENT YEAR CONTRIBUTION INTO THE DEFINED BENEFIT PLAN FOR THESE OFFICERS AND HIGHEST COMPENSATED EMPLOYEES: STEPHANIE JOHNSON - $32,600 STEVE CONELY - $27,998