Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Sales of Electricity

  total $223,654,452 · related or exempt $223,654,452

• 2b · Program service revenue: Patronage Capital

  total $4,604,619 · related or exempt $4,604,619

• 3 · Investment income

  total $237,796 · excluded $237,796

• 6a · Gross rents

  personal property $7,381,842

• 6b · Less rental expenses

  personal property $0

• 6c · Rental income or loss

  personal property $7,381,842

• 6d · Net rental income or loss

  total $7,381,842 · unrelated business $3,393,049 · excluded $3,988,793

• 7a · Gross sales of assets other than inventory

  other assets $132,730

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

  other assets $0

• 7c · Gain or loss

  other assets $132,730

• 7d · Net gain or loss

  total $132,730 · excluded $132,730

• 10b · Cost of goods sold

  $20

• 10c · Net income from sales of inventory

  total -$20 · related or exempt -$20

• 11a · Other revenue: Loss on investment in

  total -$4,024,652 · excluded -$4,024,652

• 11e · Other revenue, total

  -$4,024,652

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $9,194,947

• 5 · Compensation of officers, directors and key employees

  total $2,935,358

• 20 · Interest

  total $4,762,987

• 22 · Depreciation, depletion and amortization

  total $14,364,503

• 24a · Other expenses: Cost of Power

  total $150,987,979

• 24b · Other expenses: Dist Exp - Maintenance

  total $21,803,603

• 24c · Other expenses: Dist Exp - Operations

  total $8,937,722

• 24d · Other expenses: Admin & Gen Expenses

  total $8,055,975

• 24e · All other expenses

  total $10,943,693

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,381,104 · end of year $3,526,110

• 4 · Accounts receivable

  beginning of year $20,408,919 · end of year $45,370,580

• 8 · Inventories for sale or use

  beginning of year $4,111,846 · end of year $5,679,911

• 9 · Prepaid expenses and deferred charges

  beginning of year $681,793 · end of year $837,292

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

  $516,366,826

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

  $126,363,723

• 10c · Land, buildings and equipment, net

  beginning of year $344,883,747 · end of year $390,003,103

• 13 · Investments: program-related

  beginning of year $81,960,307 · end of year $82,608,153

• 15 · Other assets

  beginning of year $9,271,632 · end of year $7,893,733

• 17 · Accounts payable and accrued expenses

  beginning of year $78,138,558 · end of year $130,074,703

• 23 · Secured mortgages and notes payable

  beginning of year $119,851,233 · end of year $127,595,825

• 25 · Other liabilities

  beginning of year $58,200,565 · end of year $57,887,063

• 29 · Capital stock, trust principal or current funds

  beginning of year $495,610 · end of year $502,790

• 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 $210,013,382 · end of year $219,858,501

The filer's explanations (Part III)

Part I, Line 4b

Employees listed on Schedule J participated in a 457b plan but didn't receive payments in 2022.

Related corporations and trusts

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

• Coast Connect LLC

  C · Internet · MS · 100% owned · share of income $8,313,329 · share of assets $17,853,566 · controlled entity

  Directly controlled by Coast Electric Power Association