Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $14,551,985 · related or exempt $14,551,985

• 2b · Program service revenue: BROADBAND INTERNET SERVICE

  total $2,045,736 · related or exempt $2,045,736

• 2c · Program service revenue: PATRONAGE DIVIDENDS

  total $351,786 · related or exempt $351,786

• 3 · Investment income

  total $34,021 · excluded $34,021

• 11a · Other revenue: PPP LOAN FORGIVENESS

  total $620,900 · excluded $620,900

• 11b · Other revenue: POLE ATTACHMENT INCOME

  total $60,154 · excluded $60,154

• 11e · Other revenue, total

  $681,054

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $23,300

• 4 · Benefits paid to or for members

  total $562,147

• 5 · Compensation of officers, directors and key employees

  total $705,449

• 7 · Other salaries and wages

  total $1,875,814

• 8 · Pension plan contributions

  total $628,987

• 9 · Other employee benefits

  total $602,020

• 10 · Payroll taxes

  total $164,424

• 20 · Interest

  total $715,017

• 22 · Depreciation, depletion and amortization

  total $1,443,123

• 24a · Other expenses: PURCHASED POWER

  total $8,089,463

• 24b · Other expenses: DISTRIBUTION EXPENSE

  total $961,861

• 24c · Other expenses: ADMIN & GENERAL EXPENSE

  total $691,081

• 24d · Other expenses: CONSUMER EXPENSE

  total $390,174

• 24e · All other expenses

  total $245,869

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,295,502 · end of year $668,277

• 2 · Savings and temporary cash investments

  beginning of year $593,793 · end of year $588,845

• 4 · Accounts receivable

  beginning of year $8,456,495 · end of year $8,817,105

• 8 · Inventories for sale or use

  beginning of year $1,734,166 · end of year $1,448,012

• 9 · Prepaid expenses and deferred charges

  beginning of year $76,968 · end of year $161,811

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

  $51,605,168

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

  $21,343,867

• 10c · Land, buildings and equipment, net

  beginning of year $25,509,607 · end of year $30,261,301

• 13 · Investments: program-related

  beginning of year $4,658,451 · end of year $4,920,038

• 15 · Other assets

  beginning of year $102,547 · end of year $168,510

• 17 · Accounts payable and accrued expenses

  beginning of year $1,057,992 · end of year $1,305,264

• 21 · Escrow or custodial account liability

  beginning of year $30,150 · end of year $10,071

• 23 · Secured mortgages and notes payable

  beginning of year $15,590,943 · end of year $19,047,220

• 24 · Unsecured notes and loans payable

  beginning of year $620,900 · end of year $0

• 25 · Other liabilities

  beginning of year $10,094,561 · end of year $10,800,990

• 29 · Capital stock, trust principal or current funds

  beginning of year $1,390 · end of year $1,260

• 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 $15,031,593 · end of year $15,869,094

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. 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 CONTRIBUTION TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. KEVIN M. SHORT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 185,561 EMPLOYER CONTRIBUTION TO 401(K) PLAN 10,688 TOTAL REPORTED IN COLUMN C $ 196,249 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (185,561) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 140,178 EXPENSE TO THE COOPERTIVE $ 150,866 LAURA SNIDER-MANSEAU: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 57,694 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,628 TOTAL REPORTED IN COLUMN C $ 61,322 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (57,694) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 54,463 EXPENSE TO THE COOPERTIVE $ 58,091 BRIAN BAHARIE: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 50,655 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,705 TOTAL REPORTED IN COLUMN C $ 54,360 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (50,655) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 56,071 EXPENSE TO THE COOPERTIVE $ 59,776 SANDY KING: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 36,611 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,121 TOTAL REPORTED IN COLUMN C $ 38,732 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (36,611) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 50,824 EXPENSE TO THE COOPERTIVE $ 52,945 SHAWN TRENTO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 29,156 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,593 TOTAL REPORTED IN COLUMN C $ 32,749 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (29,156) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 53,773 EXPENSE TO THE COOPERTIVE $ 57,366 JOSE RAZO: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 3,638 EMPLOYER CONTRIBUTION TO 401(K) PLAN 1,182 TOTAL REPORTED IN COLUMN C $ 4,820 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (3,638) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 31,858 EXPENSE TO THE COOPERTIVE $ 33,040