Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC ENERGY

  total $212,493,470 · related or exempt $212,493,470

• 2b · Program service revenue: PATRONAGE CAPITAL - G&T

  total $3,207,324 · related or exempt $3,207,324

• 2c · Program service revenue: PATRONAGE CAPITAL - OTHER

  total $1,996,347 · related or exempt $1,996,347

• 3 · Investment income

  total $138,301 · excluded $138,301

• 7a · Gross sales of assets other than inventory

  other assets $201,442

• 7c · Gain or loss

  other assets $201,442

• 7d · Net gain or loss

  total $201,442 · related or exempt $201,442

• 11a · Other revenue: QUALIFIED POLE RENTAL

  total $787,764 · related or exempt $787,764

• 11e · Other revenue, total

  $787,764

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $2,309,308

• 5 · Compensation of officers, directors and key employees

  total $2,637,601

• 6 · Compensation of disqualified persons

  total $45,885

• 20 · Interest

  total $11,535,374

• 22 · Depreciation, depletion and amortization

  total $22,999,053

• 24a · Other expenses: COST OF PURCHASED POWER

  total $131,692,581

• 24b · Other expenses: MAINTENANCE - DIST EXP

  total $20,499,110

• 24c · Other expenses: ADMIN & GENERAL

  total $9,171,267

• 24d · Other expenses: CONSUMER ACCOUNTS

  total $7,394,247

• 24e · All other expenses

  total $10,812,709

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $5,618,566 · end of year $2,590,282

• 2 · Savings and temporary cash investments

  beginning of year $2,360,231 · end of year $1,562,424

• 4 · Accounts receivable

  beginning of year $28,250,319 · end of year $21,885,458

• 8 · Inventories for sale or use

  beginning of year $317,475 · end of year $382,062

• 9 · Prepaid expenses and deferred charges

  beginning of year $23,473,494 · end of year $18,521,256

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

  $735,279,586

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

  $252,814,939

• 10c · Land, buildings and equipment, net

  beginning of year $428,388,040 · end of year $482,464,647

• 13 · Investments: program-related

  beginning of year $78,624,281 · end of year $82,478,858

• 17 · Accounts payable and accrued expenses

  beginning of year $38,732,595 · end of year $33,057,306

• 21 · Escrow or custodial account liability

  beginning of year $1,724,104 · end of year $964,176

• 23 · Secured mortgages and notes payable

  beginning of year $302,562,373 · end of year $351,824,406

• 25 · Other liabilities

  beginning of year $7,038,780 · end of year $8,361,835

• 31 · Retained earnings, endowment or other funds

  beginning of year $216,974,554 · end of year $215,677,264

The filer's explanations (Part III)

SCHEDULE J, PART III

PART II, COLUMN C. INCLUDED IN THIS AMOUNT ARE THE EMPLOYER CONTRIBUTIONS TO THE DEFINED CONTRIBUTION PLAN (401K) AND THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER THE NRECA R&S DEFINED BENEFIT PLAN. THE CHANGE IN ACTUAL VALUE FOR EACH INDIVIDUAL PARTICIPANT IS BASED ON ACTUARIAL DATA AND ASSUMPTIONS. THE AMOUNTS IN COLUMN C ARE FURTHER EXPLAINED AS FOLLOWS. DOUGLAS TURK - 19,800 401K, 89,536 ACTUARIAL INCREASE KEITH STAPLES - 14,430 401K, 81,819 ACTUARIAL INCREASE JOSEPH CONNER - 14,106 401K, 20,343 ACTUARIAL INCREASE RYAN BROWN - 16,256 401K, 32,799 ACTUARIAL INCREASE SCOTT FERGUSON - 9,979 401K, 119,335 ACTUARIAL INCREASE RICKY HARRELL - 11,427 401K, 85,871 ACTUARIAL INCREASE TERRY LOWE - 5,658 401K, 20,136 ACTUARIAL INCREASE CRAIG BARLOW - 5,332 401K, 35,124 ACTUARIAL INCREASE RACHEL HAWKINS - 11,427 401K, 9,784 ACTUARIAL INCREASE LARRY HORN - 10,501 401K, 95,832 ACTUARIAL INCREASE JOEL COLSTON - 9,404 401K, 11,224 ACTUARIAL INCREASE GARY WHITE - 8,878 401K, 131,203 ACTUARIAL INCREASE