Form 990 for tax year 2025

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE

  total $57,119,848 · related or exempt $57,119,848

• 2b · Program service revenue: G & T CAPITAL CREDITS

  total $1,244,509 · related or exempt $1,244,509

• 2c · Program service revenue: POLE RENTAL

  total $523,796 · excluded $523,796

• 2d · Program service revenue: OTHER CAPITAL CREDITS

  total $310,600 · related or exempt $310,600

• 2e · Program service revenue: OTHER REVENUES

  total $56,634 · related or exempt $56,634

• 3 · Investment income

  total $304,042 · excluded $304,042

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $3,381,104

• 5 · Compensation of officers, directors and key employees

  total $858,751

• 20 · Interest

  total $3,277,719

• 22 · Depreciation, depletion and amortization

  total $5,225,518

• 24a · Other expenses: PURCHASED POWER

  total $31,362,924

• 24b · Other expenses: DISTRIBUTION MAINTENANCE

  total $5,001,496

• 24c · Other expenses: DISTRIBUTION OPERATIONS

  total $3,764,588

• 24d · Other expenses: ADMIN. & GENERAL EXP.

  total $3,265,341

• 24e · All other expenses

  total $3,421,988

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $7,240,205 · end of year $7,009,680

• 4 · Accounts receivable

  beginning of year $2,952,969 · end of year $2,813,863

• 8 · Inventories for sale or use

  beginning of year $1,979,334 · end of year $1,849,373

• 9 · Prepaid expenses and deferred charges

  beginning of year $551,171 · end of year $1,500,073

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

  $183,973,016

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

  $41,831,867

• 10c · Land, buildings and equipment, net

  beginning of year $132,975,604 · end of year $142,141,149

• 13 · Investments: program-related

  beginning of year $23,581,244 · end of year $24,313,943

• 15 · Other assets

  beginning of year $3,904,135 · end of year $3,891,964

• 17 · Accounts payable and accrued expenses

  beginning of year $7,223,178 · end of year $6,464,599

• 23 · Secured mortgages and notes payable

  beginning of year $80,568,171 · end of year $88,490,849

• 25 · Other liabilities

  beginning of year $6,636,415 · end of year $7,584,267

• 29 · Capital stock, trust principal or current funds

  beginning of year $76,515 · end of year $77,030

• 31 · Retained earnings, endowment or other funds

  beginning of year $78,680,383 · end of year $80,903,300

The filer's explanations (Part III)

SCHEDULE J, PART III

J. TED MCMILLAN'S COMPENSATION IS DUE TO DISTRIBUTIONS FROM HIS IRC 457(B) ACCOUNTS. THESE DISTRIBUTIONS WILL CONTINUE BASED ON THE PAYOUT SCHEDULE PROVIDED BY THE PARTICIPANT. THE DISTRIBUTION WAS FUNDED SOLEY FROM EMPLOYEE DEFERRALS OF COMPENSATION UNDER IRC 457(B). THE AMOUNT DEFERRED WAS REPORTED AS COMPENSATION IN PREVIOUS 990 FILINGS AS THE COMPENSATION WAS DEFERRED AND TAXED TO THE PARTICIPANT AS FICA WAGES. MR. MCMILLAN'S IS REQUIRED TO BE REPORTED ON FORM 990 IN EACH YEAR HE RECEIVES COMPENSATION FROM THE CORPORATION IN EXCESS OF 10,000 DURING FOR A FIVE YEAR PERIOD SUBSEQUENT TO BEING A CURRENT OFFICER OF THE CORPORATION. THE 2025 YEAR WILL BE THE FINAL YEAR OF COMPENSATION REPORTING FOR MR. MCMILLAN AS THE FIVE YEAR LOOKBACK PERIOD EXPIRES WITH TEH 2025 990 REPORTING.