Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF ELECTRICITY

  total $252,475,144 · related or exempt $252,475,144

• 2b · Program service revenue: POLE RENTAL

  total $6,487,974 · excluded $6,487,974

• 2c · Program service revenue: MISCELLANEOUS

  total $3,265,283 · related or exempt $3,265,283

• 3 · Investment income

  total $417,104 · excluded $417,104

• 7a · Gross sales of assets other than inventory

  other assets $1,024,025

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

  other assets $391,929

• 7c · Gain or loss

  other assets $632,096

• 7d · Net gain or loss

  total $632,096 · related or exempt $632,096

• 11a · Other revenue: PATRONAGE CAPITAL REFUND

  total $331,889 · related or exempt $331,889

• 11e · Other revenue, total

  $331,889

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $22,928,469

• 5 · Compensation of officers, directors and key employees

  total $2,536,954

• 7 · Other salaries and wages

  total $10,607,543

• 8 · Pension plan contributions

  total $3,892,475

• 9 · Other employee benefits

  total $3,137,848

• 10 · Payroll taxes

  total $1,117,324

• 11b · Fees: legal

  total $38,974

• 11c · Fees: accounting

  total $16,130

• 11g · Fees: other

  total $620,067

• 12 · Advertising and promotion

  total $437,149

• 13 · Office expenses

  total $372,537

• 14 · Information technology

  total $492,164

• 19 · Conferences, conventions and meetings

  total $383,623

• 20 · Interest

  total $3,195,067

• 22 · Depreciation, depletion and amortization

  total $13,665,394

• 23 · Insurance

  total $531,065

• 24a · Other expenses: COST OF ELECTRICITY SOLD

  total $181,061,120

• 24b · Other expenses: DISTRIB. MAINTENANCE EXP.

  total $11,738,362

• 24c · Other expenses: DISTRIB. OPERATIONS EXP.

  total $3,699,078

• 24d · Other expenses: ADMIN. AND GENERAL EXPENS

  total $2,372,669

• 24e · All other expenses

  total $765,478

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,709,954 · end of year $2,101,874

• 2 · Savings and temporary cash investments

  beginning of year $7,151,120 · end of year $13,773,708

• 4 · Accounts receivable

  beginning of year $14,883,363 · end of year $20,441,663

• 7 · Other notes and loans receivable

  beginning of year $8,773,082 · end of year $8,013,872

• 8 · Inventories for sale or use

  beginning of year $4,502,092 · end of year $5,393,138

• 9 · Prepaid expenses and deferred charges

  beginning of year $297,378 · end of year $565,799

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

  $431,781,202

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

  $143,233,978

• 10c · Land, buildings and equipment, net

  beginning of year $269,507,904 · end of year $288,547,224

• 15 · Other assets

  beginning of year $10,710,740 · end of year $13,702,533

• 17 · Accounts payable and accrued expenses

  beginning of year $35,878,960 · end of year $40,192,722

• 23 · Secured mortgages and notes payable

  beginning of year $75,212,721 · end of year $81,241,917

• 25 · Other liabilities

  beginning of year $29,241,647 · end of year $28,152,499

• 29 · Capital stock, trust principal or current funds

  beginning of year $854,650 · end of year $864,070

• 31 · Retained earnings, endowment or other funds

  beginning of year $176,347,655 · end of year $202,088,603

The filer's explanations (Part III)

SCHEDULE J, PART III

SCHEDULE J, PART I, LINE 1A - FRINGE OR EXPENSE EXPLANATION EMPLOYEE REIMBURSEMENT OF HEALTH CLUB MEMBERSHIP DUES ALLOWANCE OF 50% OF DUES PAID TO A MAXIMUM OF 200 PER YEAR PER EMPLOYEE UPON PRESENTATION OF A PAID RECEIPT. NO HEALTH CLUB DUES WERE REIMBURSED TO ANY DIRECTORS.