Form 990 for tax year 2023

2a · Program service revenue: SALE OF POWER

total $54,209,273 · related or exempt $54,209,273

3 · Investment income

total $661,866 · excluded $661,866

7a · Gross sales of assets other than inventory

other assets $76,535

7b · Less cost or other basis and sales expenses

other assets $0

7c · Gain or loss

other assets $76,535

7d · Net gain or loss

total $76,535 · excluded $76,535

10a · Gross sales of inventory

$1,148,497

10b · Cost of goods sold

$1,050,253

10c · Net income from sales of inventory

total $98,244 · unrelated business $98,244

11a · Other revenue: CAPITAL CREDITS

total $2,175,919 · related or exempt $2,175,919

11b · Other revenue: MISCELLANEOUS

total $5,654 · related or exempt $5,654

11e · Other revenue, total

$2,181,573

1 · Grants to domestic organizations and governments

total $135,679

4 · Benefits paid to or for members

total $3,131,037

5 · Compensation of officers, directors and key employees

total $929,321

20 · Interest

total $1,969,697

22 · Depreciation, depletion and amortization

total $4,791,153

24a · Other expenses: COST OF POWER

total $34,429,002

24b · Other expenses: DISTRIBUTION EXPENSE

total $6,899,025

24c · Other expenses: ADMIN AND GENERAL

total $2,011,032

24d · Other expenses: CONSUMER ACCOUNTS

total $1,329,401

24e · All other expenses

total $1,147,747

1 · Cash, non-interest-bearing

beginning of year $2,005,489 · end of year $1,511,867

2 · Savings and temporary cash investments

beginning of year $1,427,170 · end of year $2,000,000

4 · Accounts receivable

beginning of year $5,961,300 · end of year $5,622,426

7 · Other notes and loans receivable

end of year $666,226

8 · Inventories for sale or use

beginning of year $2,392,484 · end of year $2,211,818

9 · Prepaid expenses and deferred charges

beginning of year $1,857,573 · end of year $1,554,942

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

$162,859,812

10b · Land, buildings and equipment: accumulated depreciation

$61,422,671

10c · Land, buildings and equipment, net

beginning of year $95,981,860 · end of year $101,437,141

11 · Investments: publicly traded securities

beginning of year $701,635

12 · Investments: other securities

end of year $7,657,954

13 · Investments: program-related

beginning of year $35,167,308 · end of year $28,765,687

14 · Intangible assets

beginning of year $2,107 · end of year $2,107

15 · Other assets

beginning of year $973,760 · end of year $164,732

17 · Accounts payable and accrued expenses

beginning of year $6,998,839 · end of year $7,595,216

19 · Deferred revenue

beginning of year $3,806,028 · end of year $2,593,886

21 · Escrow or custodial account liability

end of year $628

23 · Secured mortgages and notes payable

beginning of year $67,780,317 · end of year $70,528,879

25 · Other liabilities

beginning of year $476,490 · end of year $1,717,658

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 $67,409,012 · end of year $69,158,633

LAKE REGION ELECTRIC HOLDING COMPANY LLC

C · HOLDING COMPANY · MN · 100% owned · share of income $706,197 · share of assets $5,954,583 · controlled entity

Directly controlled by LAKE REGION ELECTRIC COOPERATIVE

LAKE REGION ENERGY SERVICES INC

C · NATURAL GAS DISTRUBUTION · MN · 100% owned · share of income $706,197 · share of assets $5,954,583 · controlled entity

Directly controlled by LAKE REGION ELECTRIC HOLDING COMPANY LLC