Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $112,397,483 · related or exempt $112,397,483

• 2b · Program service revenue: DISTRIBUTION SERVICES

  total $2,645,817 · related or exempt $2,645,817

• 2c · Program service revenue: PATRONAGE DIVIDENDS

  total $1,209,667 · related or exempt $1,209,667

• 2d · Program service revenue: SERVICE FEES

  total $591,249 · related or exempt $591,249

• 3 · Investment income

  total $524,675 · excluded $524,675

• 6a · Gross rents

  real property $1,290

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $1,290

• 6d · Net rental income or loss

  total $1,290 · excluded $1,290

• 10a · Gross sales of inventory

  $2,698

• 10b · Cost of goods sold

  $1,015

• 10c · Net income from sales of inventory

  total $1,683 · unrelated business $1,683

• 11a · Other revenue: POLE ATTACHMENT INCOME

  total $969,526 · excluded $969,526

• 11b · Other revenue: INTERNET COMMISSIONS

  total $196,779 · unrelated business $196,779

• 11c · Other revenue: OUTSIDE SERVICES

  total $8,474 · unrelated business $8,474

• 11e · Other revenue, total

  $1,174,779

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $221,838

• 4 · Benefits paid to or for members

  total $155,293

• 5 · Compensation of officers, directors and key employees

  total $4,884,335

• 7 · Other salaries and wages

  total $11,486,946

• 8 · Pension plan contributions

  total $2,733,098

• 9 · Other employee benefits

  total $1,517,952

• 10 · Payroll taxes

  total $1,242,155

• 20 · Interest

  total $6,013,172

• 22 · Depreciation, depletion and amortization

  total $12,179,379

• 24a · Other expenses: PURCHASED POWER

  total $60,868,007

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $8,630,898

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $3,686,685

• 24d · Other expenses: UNRELATED BUS. INC. TAX

  total $21,800

• 24e · All other expenses

  total $3,607,815

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $4,784,263 · end of year $6,069,285

• 2 · Savings and temporary cash investments

  beginning of year $11,463,814 · end of year $11,926,694

• 4 · Accounts receivable

  beginning of year $3,208,483 · end of year $7,010,584

• 7 · Other notes and loans receivable

  beginning of year $39,084 · end of year $24,684

• 8 · Inventories for sale or use

  beginning of year $6,688,798 · end of year $6,792,144

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,011,701 · end of year $1,127,701

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

  $460,563,169

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

  $196,365,720

• 10c · Land, buildings and equipment, net

  beginning of year $249,420,340 · end of year $264,197,449

• 13 · Investments: program-related

  beginning of year $69,132,231 · end of year $70,186,050

• 15 · Other assets

  beginning of year $2,783,953 · end of year $3,068,708

• 17 · Accounts payable and accrued expenses

  beginning of year $14,495,345 · end of year $12,131,464

• 23 · Secured mortgages and notes payable

  beginning of year $137,197,611 · end of year $155,627,709

• 25 · Other liabilities

  beginning of year $28,712,930 · end of year $34,106,147

• 29 · Capital stock, trust principal or current funds

  beginning of year $208,690 · end of year $210,640

• 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 $167,918,091 · end of year $168,327,339

The filer's explanations (Part III)

PART I, LINE 1A

PURSUANT TO THE COOPERATIVE'S WELLNESS PROGRAM, EMPLOYEES ARE REIMBURSED FOR 50% OF THEIR OUT OF POCKET COSTS FOR PARTICIPATION IN QUALIFIED WELLNESS ACTIVITIES. THE TOTAL ANNUAL REIMBURSEMENT IS LIMITED TO $360 PER EMPLOYEE AND $360 FOR AN EMPLOYEE'S SPOUSE, PROVIDED THE SPOUSE IS COVERED UNDER THE COOPERATIVE'S HEALTH INSURANCE PROGRAM. EMPLOYEES ARE ELIGIBLE TO PARTICIPATE IN THE WELLNESS PROGRAM AFTER 60 DAYS OF EMPLOYEMENT.

PART II, COLUMN F:

MR. CREDEN HUBER RECEIVED A DISTRIBUTION DURING THE YEAR FROM A SECTION 457(B) DEFERRED COMPENSATION PLAN. SUCH AMOUNT REPRESENTS BOX 1 W-2 WAGES OF COMPENSATION THAT WAS PREVIOUSLY DEFERRED WITH RESPECT TO BOX 1 BUT OTHERWISE INCLUDED IN BOX 5 W-2 WAGES IN THE YEAR OF DEFERRAL. SUCH AMOUNTS HAVE, THEREFORE, BEEN REPORTED TWICE ON FORM 990 AS REPORTABLE WAGES - ONCE IN THE YEAR OF DEFERRAL AND ONCE IN THE YEAR PAID PURSUANT TO THE DEFERRED COMPENSATION PLANS PAYOUT SCHEDULE.

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. 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. JASON BOWLING: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 115,271 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,350 TOTAL REPORTED IN COLUMN C $ 125,621 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT & NQDC PLANS (115,271) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT & NQDC PLANS 126,477 EXPENSE TO THE COOPERATIVE $ 136,827 MARCUS HARSTON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 177,817 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,052 TOTAL REPORTED IN COLUMN C $ 183,869 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (177,817) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 71,245 EXPENSE TO THE COOPERATIVE $ 77,297 MANUEL GONZALES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 102,709 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,493 TOTAL REPORTED IN COLUMN C $ 105,202 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (102,709) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 73,542 EXPENSE TO THE COOPERATIVE $ 76,035 DANIEL WILSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 54,404 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,029 TOTAL REPORTED IN COLUMN C $ 62,433 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (54,404) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 96,606 EXPENSE TO THE COOPERATIVE $ 104,635 NATHAN HODGES: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 62,788 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,139 TOTAL REPORTED IN COLUMN C $ 68,927 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (62,788) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 73,542 EXPENSE TO THE COOPERATIVE $ 79,681 RON LEE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 65,786 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,341 TOTAL REPORTED IN COLUMN C $ 72,127 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (65,786) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 76,607 EXPENSE TO THE COOPERATIVE $ 82,948 JESUS MORENO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 37,013 EMPLOYER CONTRIBUTION TO 401(K) PLAN 6,088 TOTAL REPORTED IN COLUMN C $ 43,101 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (37,013) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 73,542 EXPENSE TO THE COOPERATIVE $ 79,630 CURTISS PETERSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 78,184 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,932 TOTAL REPORTED IN COLUMN C $ 83,116 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (78,184) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 57,231 EXPENSE TO THE COOPERATIVE $ 62,163 SARA RANSOM: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 18,074 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,036 TOTAL REPORTED IN COLUMN C $ 23,110 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (18,074) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 62,158 EXPENSE TO THE COOPERATIVE $ 67,194 RICHIE ELLIS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 45,382 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,246 TOTAL REPORTED IN COLUMN C $ 48,628 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (45,382) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,645 EXPENSE TO THE COOPERATIVE $ 41,891 REBECCA BUKSH: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 32,965 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,613 TOTAL REPORTED IN COLUMN C $ 38,578 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (32,965) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 67,814 EXPENSE TO THE COOPERATIVE $ 73,427 SEAN RUDDY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 52,744 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,690 TOTAL REPORTED IN COLUMN C $ 57,434 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (52,744) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 55,443 EXPENSE TO THE COOPERATIVE $ 60,133 ANDREA TYNDALL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 48,015 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,578 TOTAL REPORTED IN COLUMN C $ 49,593 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (48,015) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 57,231 EXPENSE TO THE COOPERATIVE $ 58,809 MARK ROLL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 51,439 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,317 TOTAL REPORTED IN COLUMN C $ 55,756 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (51,439) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 51,797 EXPENSE TO THE COOPERATIVE $ 56,114 JESUS HERNANDEZ: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 20,446 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,351 TOTAL REPORTED IN COLUMN C $ 23,797 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (20,446) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 42,122 EXPENSE TO THE COOPERATIVE $ 45,473 LUIS MONTANO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 11,144 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,554 TOTAL REPORTED IN COLUMN C $ 14,698 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (11,144) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 42,122 EXPENSE TO THE COOPERATIVE $ 45,676 OWEN MORTENSON: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 8,386 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,246 TOTAL REPORTED IN COLUMN C $ 11,632 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (8,386) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,645 EXPENSE TO THE COOPERATIVE $ 41,891

PART II, COLUMN C (CONTINUED):

JORGE GARCIA: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 34,914 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,907 TOTAL REPORTED IN COLUMN C $ 38,821 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (34,914) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 44,824 EXPENSE TO THE COOPERATIVE $ 48,731 ADOLFO MARMOLEJO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 6,056 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,249 TOTAL REPORTED IN COLUMN C $ 9,305 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (6,056) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 38,645 EXPENSE TO THE COOPERATIVE $ 41,894