Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: Operating Revenue

  total $28,344,296 · related or exempt $28,344,296 · unrelated business $0 · excluded $0

• 2b · Program service revenue: Pole Rental

  total $292,101 · related or exempt $0 · unrelated business $0 · excluded $292,101

• 2f · All other program service revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $39,584 · related or exempt $0 · unrelated business $0 · excluded $39,584

• 4 · Income from investment of tax-exempt bond proceeds

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 5 · Royalties

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 6c · Rental income or loss

  real property $0 · personal property $0

• 7a · Gross sales of assets other than inventory

  securities $0 · other assets $3,698

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

  securities $0 · other assets $0

• 7c · Gain or loss

  securities $0 · other assets $3,698

• 7d · Net gain or loss

  total $3,698 · related or exempt $0 · unrelated business $0 · excluded $3,698

• 11a · Other revenue: Patronage Dividends

  total $249,934 · related or exempt $249,934 · unrelated business $0 · excluded $0

• 11b · Other revenue: Gain (Loss) Post-Retirement Benefits

  total -$127,326 · related or exempt -$127,326 · unrelated business $0 · excluded $0

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $122,608

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $21,500

• 4 · Benefits paid to or for members

  total $16,529

• 5 · Compensation of officers, directors and key employees

  total $577,163

• 6 · Compensation of disqualified persons

  total $1,287,331

• 10 · Payroll taxes

  total $24,520

• 20 · Interest

  total $1,273,765

• 22 · Depreciation, depletion and amortization

  total $2,859,830

• 24a · Other expenses: Purchased Power Expense

  total $10,093,885

• 24b · Other expenses: Transmission and Distribution Expense

  total $6,883,932

• 24c · Other expenses: Customer and Member Services Expenses

  total $1,956,886

• 24d · Other expenses: General and Administrative Expenses

  total $2,608,702

• 24e · All other expenses

  total $1,032,354

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $0 · end of year $80,183

• 2 · Savings and temporary cash investments

  beginning of year $313,242 · end of year $76,472

• 3 · Pledges and grants receivable

  beginning of year $0 · end of year $0

• 4 · Accounts receivable

  beginning of year $10,464,369 · end of year $12,726,430

• 5 · Loans and receivables from officers and key people

  beginning of year $0 · end of year $0

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $0 · end of year $0

• 8 · Inventories for sale or use

  beginning of year $1,807,417 · end of year $2,161,761

• 9 · Prepaid expenses and deferred charges

  beginning of year $538,196 · end of year $545,495

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

  $103,965,761

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

  $35,523,611

• 10c · Land, buildings and equipment, net

  beginning of year $66,406,030 · end of year $68,442,150

• 12 · Investments: other securities

  beginning of year $3,886,447 · end of year $3,959,669

• 15 · Other assets

  beginning of year $1,049,163 · end of year $1,139,276

• 17 · Accounts payable and accrued expenses

  beginning of year $9,462,243 · end of year $8,738,439

• 18 · Grants payable

  beginning of year $0 · end of year $0

• 19 · Deferred revenue

  beginning of year $0 · end of year $0

• 20 · Tax-exempt bond liabilities

  beginning of year $0 · end of year $0

• 21 · Escrow or custodial account liability

  beginning of year $0 · end of year $0

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $34,865,220 · end of year $39,442,292

• 24 · Unsecured notes and loans payable

  beginning of year $0 · end of year $0

• 25 · Other liabilities

  beginning of year $1,688,872 · end of year $2,794,688

• 29 · Capital stock, trust principal or current funds

  beginning of year $2,784,574 · end of year $2,784,574

• 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 $35,663,955 · end of year $35,371,443

The filer's explanations (Part III)

Schedule J, Part I, Line 1a

The Finance and Administration Manager received $4,000 for accommodation expenses for his first two months of employment with the organization. This was paid through payroll and subject to taxes in the same way as normal compensation. If the Finance and Administration Manager resigns from the position within 12 months, he repays 100% of the costs, reducing by 25% each year until no expenses would be repayable after 4 years.

Schedule J, Part I, Line 3

PART I, LINE 3: COMPENSATION FOR THE COOPERATIVE'S GENERAL MANAGER IS SET ANNUALLY BY THE BOARD OF DIRECTORS. THIS IS DISCRETIONARY BASED ON PERFORMANCE TO THE EXTENT IT FALLS WITHIN THE ESTABLISHED RANGE. THIS RANGE IS DEVELOPED AND REVIEWED PERIODICALLY BASED ON AVERAGES AND COMPILED FROM BOTH INDUSTRY SURVEYS AND INFORMATION OBTAINED FROM COMPARABLE UTILITIES.