Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: ELECTRIC REVENUE

  total $15,533,354 · related or exempt $15,533,354

• 3 · Investment income

  total $3,071 · excluded $3,071

• 6a · Gross rents

  real property $119

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $119

• 6d · Net rental income or loss

  total $119 · excluded $119

• 7a · Gross sales of assets other than inventory

  other assets $59,622

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

  other assets $0

• 7c · Gain or loss

  other assets $59,622

• 7d · Net gain or loss

  total $59,622 · related or exempt $59,622

• 10a · Gross sales of inventory

  $140,876

• 10b · Cost of goods sold

  $151,177

• 10c · Net income from sales of inventory

  total -$10,301 · related or exempt -$10,301

• 11a · Other revenue: CAPITAL CREDITS

  total $1,112,202 · related or exempt $1,112,202

• 11b · Other revenue: MISCELLANEOUS REVENUE

  total $2,075 · excluded $2,075

• 11e · Other revenue, total

  $1,114,277

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $1,811,578

• 5 · Compensation of officers, directors and key employees

  total $898,502

• 8 · Pension plan contributions

  total $351,998

• 20 · Interest

  total $1,005,125

• 22 · Depreciation, depletion and amortization

  total $1,353,255

• 24a · Other expenses: COST OF POWER

  total $8,989,609

• 24b · Other expenses: DISTRIBUTION - OPERATIO

  total $1,238,615

• 24c · Other expenses: ADMINISTRATIVE AND GENE

  total $1,165,252

• 24d · Other expenses: DISTRIBUTION - MAINTENA

  total $495,987

• 24e · All other expenses

  total -$609,779

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $300 · end of year $300

• 2 · Savings and temporary cash investments

  beginning of year $284,156 · end of year $1,893,445

• 4 · Accounts receivable

  beginning of year $2,353,464 · end of year $2,692,116

• 7 · Other notes and loans receivable

  beginning of year $378,969 · end of year $300,958

• 8 · Inventories for sale or use

  beginning of year $1,378,297 · end of year $2,543,699

• 9 · Prepaid expenses and deferred charges

  beginning of year $650,852 · end of year $687,582

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

  $50,524,130

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

  $13,537,741

• 10c · Land, buildings and equipment, net

  beginning of year $35,748,601 · end of year $36,986,389

• 15 · Other assets

  beginning of year $8,241,485 · end of year $9,069,648

• 17 · Accounts payable and accrued expenses

  beginning of year $1,237,172 · end of year $1,436,490

• 23 · Secured mortgages and notes payable

  beginning of year $29,213,855 · end of year $32,681,467

• 25 · Other liabilities

  beginning of year $600,442 · end of year $716,514

• 29 · Capital stock, trust principal or current funds

  beginning of year $0 · end of year $0

• 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 $17,984,655 · end of year $19,339,666

The filer's explanations (Part III)

PART I, LINE 3

THE BOARD USES NATIONAL COMPARABILITY DATA FROM THE NRECA SALARY SURVEY IN CONJUNCTION WITH STATE COMPARABILITY DATA FROM THE NDAREC SURVEY TO DETERMINE THE GENERAL MANAGER'S COMPENSATION.