Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $126,596,545 · unrelated business $126,596,545

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $3,053,376 · unrelated business $3,053,376

• 2c · Program service revenue: SERVICE FEES

  total $595,776 · unrelated business $595,776

• 3 · Investment income

  total $140,604 · excluded $140,604

• 5 · Royalties

  total $383,317 · excluded $383,317

• 7a · Gross sales of assets other than inventory

  securities $1,948,942

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

  securities $845,369

• 7c · Gain or loss

  securities $1,103,573

• 7d · Net gain or loss

  total $1,103,573 · related or exempt $1,103,573

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $37,349 · excluded $37,349

• 11e · Other revenue, total

  $37,349

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $38,591

• 4 · Benefits paid to or for members

  total $7,239,197

• 5 · Compensation of officers, directors and key employees

  total $510,165

• 7 · Other salaries and wages

  total $4,201,159

• 8 · Pension plan contributions

  total $487,960

• 9 · Other employee benefits

  total $1,174,786

• 10 · Payroll taxes

  total $342,470

• 20 · Interest

  total $712,958

• 22 · Depreciation, depletion and amortization

  total $9,283,543

• 24a · Other expenses: PURCHASED POWER

  total $99,851,468

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $2,405,708

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $2,159,947

• 24d · Other expenses: CONSUMER EXPENSE

  total $558,875

• 24e · All other expenses

  total $393,713

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,907,933 · end of year $14,084,647

• 2 · Savings and temporary cash investments

  beginning of year $5,000,000 · end of year $3,000,000

• 4 · Accounts receivable

  beginning of year $7,104,390 · end of year $8,243,458

• 8 · Inventories for sale or use

  beginning of year $4,708,196 · end of year $6,716,212

• 9 · Prepaid expenses and deferred charges

  beginning of year $210,879 · end of year $231,792

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

  $155,436,045

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

  $33,986,315

• 10c · Land, buildings and equipment, net

  beginning of year $121,541,719 · end of year $121,449,730

• 12 · Investments: other securities

  beginning of year $291,673 · end of year $292,971

• 13 · Investments: program-related

  beginning of year $50,633,842 · end of year $53,567,478

• 15 · Other assets

  beginning of year $8,571,768 · end of year $11,143,019

• 17 · Accounts payable and accrued expenses

  beginning of year $7,447,156 · end of year $9,526,349

• 21 · Escrow or custodial account liability

  beginning of year $8,694 · end of year $89,856

• 23 · Secured mortgages and notes payable

  beginning of year $22,014,982 · end of year $21,708,227

• 25 · Other liabilities

  beginning of year $12,547,051 · end of year $18,122,663

• 29 · Capital stock, trust principal or current funds

  beginning of year $89,080 · end of year $90,530

• 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 $160,863,437 · end of year $169,191,682

The filer's explanations (Part III)

PART II, COLUMN C:

INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S 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, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIORNMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. BRADLEY BIERSTEDT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 58,357 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,377 TOTAL REPORTED IN COLUMN C $ 72,734 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (58,357) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,263 EXPENSE TO THE COOPERATIVE $ 43,640 PATRICK JANYSEK: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 43,586 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,023 TOTAL REPORTED IN COLUMN C $ 46,609 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (43,586) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 21,435 EXPENSE TO THE COOPERATIVE $ 24,458 JOE ESCANDON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 24,262 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,050 TOTAL REPORTED IN COLUMN C $ 26,312 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (24,262) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 14,468 EXPENSE TO THE COOPERATIVE $ 16,518 RUDOLFO TORRES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 23,883 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,966 TOTAL REPORTED IN COLUMN C $ 25,849 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (23,883) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 13,878 EXPENSE TO THE COOPERATIVE $ 15,844 RANDY ORTIZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,077 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,598 TOTAL REPORTED IN COLUMN C $ 10,675 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,077) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 10,385 EXPENSE TO THE COOPERATIVE $ 11,983 JESSE BENAVIDES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,662 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,579 TOTAL REPORTED IN COLUMN C $ 8,241 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,662) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 10,410 EXPENSE TO THE COOPERATIVE $ 11,989