Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $155,836,409 · related or exempt $155,836,409

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $4,307,263 · related or exempt $4,307,263

• 2c · Program service revenue: SERVICE FEES

  total $399,144 · related or exempt $399,144

• 2d · Program service revenue: OTHER PROGRAM REVENUE

  total $16,934 · excluded $16,934

• 2e · Program service revenue: ELECTRIC WHEELING

  total $8,674 · related or exempt $8,674

• 3 · Investment income

  total $88,588 · excluded $88,588

• 6a · Gross rents

  real property $7,810 · personal property $900

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $7,810 · personal property $900

• 6d · Net rental income or loss

  total $8,710 · related or exempt $900 · excluded $7,810

• 7a · Gross sales of assets other than inventory

  other assets $155,218

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

  other assets $3,377,379

• 7c · Gain or loss

  other assets -$3,222,161

• 7d · Net gain or loss

  total -$3,222,161 · related or exempt -$3,222,161

• 10a · Gross sales of inventory

  $778,070

• 10b · Cost of goods sold

  $724,564

• 10c · Net income from sales of inventory

  total $53,506 · related or exempt $53,506

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $155,311 · excluded $155,311

• 11b · Other revenue: MISC. MAINTENANCE CONTRACTS

  total $334 · excluded $334

• 11e · Other revenue, total

  $155,645

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $117,210

• 4 · Benefits paid to or for members

  total $3,333,537

• 5 · Compensation of officers, directors and key employees

  total $1,788,567

• 7 · Other salaries and wages

  total $8,044,050

• 8 · Pension plan contributions

  total $1,779,981

• 9 · Other employee benefits

  total $1,770,577

• 10 · Payroll taxes

  total $680,421

• 20 · Interest

  total $4,880,211

• 22 · Depreciation, depletion and amortization

  total $8,794,001

• 24a · Other expenses: PURCHASED POWER

  total $113,497,390

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $8,035,423

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $2,970,975

• 24d · Other expenses: CONSUMER EXPENSE

  total $1,227,426

• 24e · All other expenses

  total $122,193

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $507,510 · end of year $2,006,702

• 2 · Savings and temporary cash investments

  beginning of year $400,000

• 4 · Accounts receivable

  beginning of year $3,888,445 · end of year $4,211,789

• 8 · Inventories for sale or use

  beginning of year $69,132 · end of year $49,467

• 9 · Prepaid expenses and deferred charges

  beginning of year $885,505 · end of year $434,361

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

  $254,851,822

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

  $37,326,061

• 10c · Land, buildings and equipment, net

  beginning of year $200,400,841 · end of year $217,525,761

• 13 · Investments: program-related

  beginning of year $64,228,791 · end of year $68,004,113

• 15 · Other assets

  beginning of year $5,225,351 · end of year $6,319,246

• 17 · Accounts payable and accrued expenses

  beginning of year $11,770,243 · end of year $20,908,861

• 21 · Escrow or custodial account liability

  beginning of year $3,150 · end of year $1,155

• 23 · Secured mortgages and notes payable

  beginning of year $124,853,673 · end of year $126,192,147

• 25 · Other liabilities

  beginning of year $12,288,977 · end of year $23,455,795

• 29 · Capital stock, trust principal or current funds

  beginning of year $100,700 · end of year $103,145

• 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 $126,588,832 · end of year $127,890,336

The filer's explanations (Part III)

PART II, COLUMN C:

INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE, YEARS OF SERVICE AND THE CURRENT INTEREST RATE ENVIRONMENT. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. TREY GREBE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 87,026 EMPLOYER CONTRIBUTION TO 401(K) PLAN -0- TOTAL REPORTED IN COLUMN C $ 87,026 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (87,026) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 54,489 EXPENSE TO THE COOPERATIVE $ 54,489 PATRICIA TAYLOR: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 96,688 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,200 TOTAL REPORTED IN COLUMN C $ 100,888 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (96,688) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,877 EXPENSE TO THE COOPERATIVE $ 43,077 DOUG KINDRED: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 81,831 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,200 TOTAL REPORTED IN COLUMN C $ 86,031 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (81,831) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,877 EXPENSE TO THE COOPERATIVE $ 43,077 OSCAR CHAPA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 102,825 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,330 TOTAL REPORTED IN COLUMN C $ 106,155 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (102,825) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,839 EXPENSE TO THE COOPERATIVE $ 33,169 LAURIE VANDAMME: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 63,745 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,200 TOTAL REPORTED IN COLUMN C $ 67,945 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (63,745) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,877 EXPENSE TO THE COOPERATIVE $ 43,077 LEONARD GEYER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 69,294 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,900 TOTAL REPORTED IN COLUMN C $ 73,194 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (69,294) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,908 EXPENSE TO THE COOPERATIVE $ 34,808 KEITH CALLE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,564 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,800 TOTAL REPORTED IN COLUMN C $ 34,364 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (29,564) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 44,953 EXPENSE TO THE COOPERATIVE $ 49,753 DERLY CARRIZALES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 83,101 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,213 TOTAL REPORTED IN COLUMN C $ 86,314 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (83,101) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 30,493 EXPENSE TO THE COOPERATIVE $ 33,706 BRETT WILLIAMS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 26,443 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,835 TOTAL REPORTED IN COLUMN C $ 30,278 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (26,443) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,936 EXPENSE TO THE COOPERATIVE $ 36,771 SEAN KRAUSE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 32,108 EMPLOYER CONTRIBUTION TO 401(K) PLAN 621 TOTAL REPORTED IN COLUMN C $ 32,729 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (32,108) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,346 EXPENSE TO THE COOPERATIVE $ 33,967 MARIO MOLINA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 14,472 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,633 TOTAL REPORTED IN COLUMN C $ 17,105 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (14,472) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,194 EXPENSE TO THE COOPERATIVE $ 21,827