Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC SALES

  total $9,209,993 · related or exempt $9,209,993

• 2b · Program service revenue: WATER SALES

  total $6,589,682 · related or exempt $6,589,682

• 2c · Program service revenue: OTHER SERVICE REVENUE

  total $514,692 · related or exempt $514,692

• 3 · Investment income

  total $614,204 · excluded $614,204

• 6a · Gross rents

  real property $28,147

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $28,147

• 6d · Net rental income or loss

  total $28,147 · excluded $28,147

• 7a · Gross sales of assets other than inventory

  other assets $6,315

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

  other assets $0

• 7c · Gain or loss

  other assets $6,315

• 7d · Net gain or loss

  total $6,315 · excluded $6,315

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $5,550

• 5 · Compensation of officers, directors and key employees

  total $728,640

• 7 · Other salaries and wages

  total $788,223

• 8 · Pension plan contributions

  total $1,026,042

• 9 · Other employee benefits

  total $857,178

• 10 · Payroll taxes

  total $328,137

• 11g · Fees: other

  total $148,173

• 13 · Office expenses

  total $11,631

• 17 · Travel

  total $179,236

• 19 · Conferences, conventions and meetings

  total $158,504

• 20 · Interest

  total $151,625

• 22 · Depreciation, depletion and amortization

  total $1,795,043

• 23 · Insurance

  total $102,684

• 24a · Other expenses: PURCHASED POWER

  total $4,429,876

• 24b · Other expenses: DISTRIBUTION SYSTEMS

  total $1,708,569

• 24c · Other expenses: BUSINESS AND PROPERTY T

  total $707,280

• 24d · Other expenses: CUSTOMER RECORDS AND CO

  total $693,124

• 24e · All other expenses

  total $199,715

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,000 · end of year $1,000

• 2 · Savings and temporary cash investments

  beginning of year $13,914,535 · end of year $12,751,780

• 4 · Accounts receivable

  beginning of year $2,152,388 · end of year $2,169,743

• 8 · Inventories for sale or use

  beginning of year $1,460,996 · end of year $1,488,312

• 9 · Prepaid expenses and deferred charges

  beginning of year $98,421 · end of year $121,206

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

  $71,368,945

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

  $29,887,495

• 10c · Land, buildings and equipment, net

  beginning of year $31,857,953 · end of year $41,481,450

• 12 · Investments: other securities

  beginning of year $202,750 · end of year $200,266

• 15 · Other assets

  beginning of year $139,704 · end of year $0

• 17 · Accounts payable and accrued expenses

  beginning of year $1,637,375 · end of year $2,087,522

• 25 · Other liabilities

  beginning of year $0 · end of year $4,807,060

• 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 $5,786,396 · end of year $5,971,396

• 31 · Retained earnings, endowment or other funds

  beginning of year $42,403,976 · end of year $45,347,779

The filer's explanations (Part III)

FORM 990, SCHEDULE J, PART II (C)

THE COMPANY PARTICIPATES IN THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION (NRECA) RETIREMENT SECURITY PLAN (RS PLAN), A DEFINED BENEFIT PENSION PLAN QUALIFIED UNDER SECTION 401 AND TAX-EXEMPT UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE. THE PLAN IS FULLY FUNDED AND VESTING IS 10% PER YEAR FOR FIRST 4 YEARS, WITH 100% VESTING AT BEGINNING OF 5TH YEAR OR AGE 55. WHICHEVER COMES FIRST. BENEFITS FROM EMPLOYEE CONTRIBUTIONS ARE FULLY VESTED. THE AMOUNTS REPORTED ARE DEFERRED COMPENSATION BENEFITS EARNED, BUT NOT PAID.