Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF POWER

  total $35,384,262 · related or exempt $35,384,262

• 2b · Program service revenue: CAPITAL CREDITS

  total $2,062,474 · related or exempt $2,062,474

• 3 · Investment income

  total $128,895 · excluded $128,895

• 6a · Gross rents

  real property $1,188

• 6b · Less rental expenses

  real property $0

• 6c · Rental income or loss

  real property $1,188

• 6d · Net rental income or loss

  total $1,188 · excluded $1,188

• 7a · Gross sales of assets other than inventory

  other assets $4,900

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

  other assets $2,000

• 7c · Gain or loss

  other assets $2,900

• 7d · Net gain or loss

  total $2,900 · excluded $2,900

• 10a · Gross sales of inventory

  $2,006,303

• 10b · Cost of goods sold

  $1,984,165

• 10c · Net income from sales of inventory

  total $22,138 · related or exempt $17,785 · unrelated business $4,353

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $32,825

• 4 · Benefits paid to or for members

  total $2,334,827

• 5 · Compensation of officers, directors and key employees

  total $525,197

• 7 · Other salaries and wages

  total $4,134,467

• 8 · Pension plan contributions

  total $660,510

• 10 · Payroll taxes

  total $340,842

• 20 · Interest

  total $1,697,488

• 22 · Depreciation, depletion and amortization

  total $2,670,338

• 24a · Other expenses: COST OF POWER

  total $23,260,671

• 24b · Other expenses: DISTRIBUTION - MAINTENA

  total $2,002,607

• 24c · Other expenses: DISTRIBUTION - OPERATIO

  total $1,391,341

• 24d · Other expenses: TAXES

  total $551,048

• 24e · All other expenses

  total -$2,683,267

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $2,980,296 · end of year $3,071,373

• 4 · Accounts receivable

  beginning of year $3,096,395 · end of year $3,361,897

• 7 · Other notes and loans receivable

  beginning of year $733,320 · end of year $633,304

• 8 · Inventories for sale or use

  beginning of year $4,420,733 · end of year $6,265,419

• 9 · Prepaid expenses and deferred charges

  beginning of year $1,377,488 · end of year $1,650,471

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

  $106,521,487

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

  $27,598,703

• 10c · Land, buildings and equipment, net

  beginning of year $73,145,198 · end of year $78,922,784

• 12 · Investments: other securities

  beginning of year $90,112 · end of year $93,940

• 13 · Investments: program-related

  beginning of year $22,917,209 · end of year $24,322,164

• 15 · Other assets

  beginning of year $1,206,600 · end of year $1,006,600

• 17 · Accounts payable and accrued expenses

  beginning of year $3,687,328 · end of year $4,639,049

• 23 · Secured mortgages and notes payable

  beginning of year $56,522,345 · end of year $63,359,498

• 25 · Other liabilities

  beginning of year $1,950,302 · end of year $1,711,164

• 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 $47,807,376 · end of year $49,618,241

The filer's explanations (Part III)

SCHEDULE J, PART II, COLUMN C

PER THE INSTRUCTIONS, THE AMOUNT REPORTED ON SCHEDULE J, PART II, COLUMN C INCLUDES THE CHANGE IN ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN, NOT THE AMOUNT PAID BY THE COOPERATIVE.