Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELETRICITY

  total $73,683,196 · related or exempt $73,683,196

• 2b · Program service revenue: CAPITAL CREDITS

  total $3,413,909 · related or exempt $3,413,909

• 2c · Program service revenue: SERVICE REVENUE

  total $44,490 · related or exempt $44,490

• 2d · Program service revenue: POLE RENTAL INCOME

  total $29,876 · excluded $29,876

• 3 · Investment income

  total $702,237 · excluded $702,237

• 7a · Gross sales of assets other than inventory

  other assets $203,809

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

  other assets $84,154

• 7c · Gain or loss

  other assets $119,655

• 7d · Net gain or loss

  total $119,655 · excluded $119,655

• 10a · Gross sales of inventory

  $23,195

• 10b · Cost of goods sold

  $24,630

• 10c · Net income from sales of inventory

  total -$1,435 · excluded -$1,435

• 11a · Other revenue: UNAPPROPROPRIATED SUB

  total $3,252,033 · excluded $3,252,033

• 11b · Other revenue: MANAGEMENT FEES

  total $2,743,066 · unrelated business $2,743,066

• 11d · All other revenue

  total $257,533 · excluded $257,533

• 11e · Other revenue, total

  $6,252,632

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $27,847

• 2 · Grants to domestic individuals

  total $49,404

• 4 · Benefits paid to or for members

  total $5,385,828

• 5 · Compensation of officers, directors and key employees

  total $1,885,784

• 7 · Other salaries and wages

  total $5,002,776

• 8 · Pension plan contributions

  total $1,425,969

• 9 · Other employee benefits

  total $1,669,831

• 10 · Payroll taxes

  total $541,523

• 11b · Fees: legal

  total $106,030

• 11c · Fees: accounting

  total $84,381

• 11g · Fees: other

  total $255,150

• 12 · Advertising and promotion

  total $83,879

• 13 · Office expenses

  total $136,922

• 14 · Information technology

  total $122,911

• 16 · Occupancy

  total $150,474

• 19 · Conferences, conventions and meetings

  total $22,534

• 20 · Interest

  total $3,958,840

• 22 · Depreciation, depletion and amortization

  total $5,985,897

• 24a · Other expenses: PURCHASED POWER

  total $49,649,308

• 24b · Other expenses: ADMIN & GENERAL EXPENSE

  total $4,447,239

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $2,604,561 · end of year $1,518,180

• 4 · Accounts receivable

  beginning of year $10,893,763 · end of year $7,833,546

• 5 · Loans and receivables from officers and key people

  beginning of year $7,221 · end of year $3,000

• 7 · Other notes and loans receivable

  beginning of year $956,020 · end of year $944,507

• 8 · Inventories for sale or use

  beginning of year $6,252,818 · end of year $5,063,966

• 9 · Prepaid expenses and deferred charges

  beginning of year $3,956,365 · end of year $3,169,991

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

  $197,231,416

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

  $61,291,550

• 10c · Land, buildings and equipment, net

  beginning of year $127,696,193 · end of year $135,939,866

• 13 · Investments: program-related

  beginning of year $148,272,584 · end of year $150,798,606

• 17 · Accounts payable and accrued expenses

  beginning of year $8,150,810 · end of year $7,813,264

• 23 · Secured mortgages and notes payable

  beginning of year $77,109,154 · end of year $76,986,794

• 25 · Other liabilities

  beginning of year $1,659,973 · end of year $1,703,903

• 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 $213,719,588 · end of year $218,767,701

The filer's explanations (Part III)

PART I, LINES 4A-B

IN 2024 ANITA WENDT RECEIVED SEVERANCE PAY OF $18,703.34 IN 2024, S. EPPERSON, L. CAMPBELL & C. SCOTT PARTICIPATED IN 457(F) PLANS AND ACCRUED AMOUNTS OF $15,346.67, $37,485.63, $20,388.12, RESPECTIVELY. IN 2024 L. CAMPBELL AND C. SCOTT WERE PAID OUT $108,804.15 AND $53,792.47, RESPECTIVELY. WHEN S. EPPERSON RESIGNED, HIS 457(F) DOLLARS WERE FORFEITED. UPON THE PAYOUT OF THE 457(F) PLANS, NEW PLANS WERE APPROVED BY THE BOARD OF TRUSTEES: $180,000 FOR L. CAMPBELL AND $100,000 FOR C. SCOTT.

Related corporations and trusts

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

• SOUTHERN PIONEER ELECTRIC COMPANY

  C · ELECTRICITY SALES · KS · 100% owned · share of income $3,252,033 · share of assets $189,475,788 · controlled entity

  Directly controlled by PIONEER ELECTRIC COOPERATIVE INC