Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF ELECTRICITY

  total $255,687,397 · related or exempt $255,687,397

• 2b · Program service revenue: UTILITY SERVICES REVENUE

  total $1,196,847 · related or exempt $1,196,847

• 2f · All other program service revenue

  total $895,629 · related or exempt $895,629

• 3 · Investment income

  total $1,710,311 · excluded $1,710,311

• 6a · Gross rents

  real property $335,072

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $335,072

• 6d · Net rental income or loss

  total $335,072 · excluded $335,072

• 7a · Gross sales of assets other than inventory

  securities $341,146 · other assets $204,210

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

  securities $0 · other assets $68,599

• 7c · Gain or loss

  securities $341,146 · other assets $135,611

• 7d · Net gain or loss

  total $476,757 · excluded $476,757

• 11a · Other revenue: EQUITY EARNINGS-FEDERATED ACQUISI

  total $607,331 · related or exempt $607,331

• 11e · Other revenue, total

  $607,331

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $449,257

• 4 · Benefits paid to or for members

  total $10,338,647

• 5 · Compensation of officers, directors and key employees

  total $3,556,651

• 7 · Other salaries and wages

  total $19,244,867

• 8 · Pension plan contributions

  total $2,248,008

• 9 · Other employee benefits

  total $2,635,928

• 10 · Payroll taxes

  total $1,596,702

• 11b · Fees: legal

  total $130,256

• 11c · Fees: accounting

  total $102,404

• 11g · Fees: other

  total $2,004,160

• 12 · Advertising and promotion

  total $1,414,720

• 13 · Office expenses

  total $1,606,795

• 14 · Information technology

  total $2,265,245

• 16 · Occupancy

  total $1,081,097

• 17 · Travel

  total $324,995

• 19 · Conferences, conventions and meetings

  total $80,890

• 20 · Interest

  total $7,165,707

• 22 · Depreciation, depletion and amortization

  total $14,203,339

• 23 · Insurance

  total $618,942

• 24a · Other expenses: COST OF POWER

  total $176,823,765

• 24b · Other expenses: ELECTRIC OPERATIONS

  total $6,929,640

• 24c · Other expenses: PROPERTY TAXES

  total $3,403,294

• 24e · All other expenses

  total $2,684,035

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $1,533 · end of year $20,478,179

• 4 · Accounts receivable

  beginning of year $37,673,176 · end of year $32,973,388

• 8 · Inventories for sale or use

  beginning of year $8,119,371 · end of year $7,198,789

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,773,060 · end of year $1,631,688

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

  $452,576,180

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

  $188,041,135

• 10c · Land, buildings and equipment, net

  beginning of year $263,868,236 · end of year $264,535,045

• 12 · Investments: other securities

  beginning of year $9,824,514 · end of year $10,278,728

• 13 · Investments: program-related

  beginning of year $155,414,839 · end of year $126,933,257

• 14 · Intangible assets

  beginning of year $941 · end of year $941

• 15 · Other assets

  beginning of year $15,301,987 · end of year $32,033,349

• 17 · Accounts payable and accrued expenses

  beginning of year $26,190,769 · end of year $26,690,841

• 23 · Secured mortgages and notes payable

  beginning of year $155,991,720 · end of year $150,700,591

• 24 · Unsecured notes and loans payable

  beginning of year $21,643,035 · end of year $26,277,539

• 25 · Other liabilities

  beginning of year $67,419,298 · end of year $69,533,363

• 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 $220,732,835 · end of year $222,861,030

The filer's explanations (Part III)

PART I, LINE 4B

THE DEFERRED COMPENSATION PLAN BALANCES ARE PAYABLE ON DEMAND, IN FULL, BUT THE BALANCES ARE SUBJECT TO RISK OF FORFEITURE UNTIL FULLY DISTRIBUTED. CONTRIBUTIONS MADE TO THE DEFERRED COMPENSATION PLAN FOR 2023 WERE AS FOLLOWS: MARK ETHEN $22,333 DONALD HOLL $9,750 GORDON WESTERLIND $19,000 MARK KOPLIN $20,250 NICK LOEHLEIN $22,500 YAN PAUL MARTINEZ $3,300 GREG RIDDERBUSCH $22,500