Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALES OF ELECTRICITY

  total $79,459,382 · related or exempt $79,459,382

• 2b · Program service revenue: PATRONAGE DIVIDENDS

  total $3,181,281 · related or exempt $3,181,281

• 2c · Program service revenue: SERVICE FEES

  total $84,905 · related or exempt $84,905

• 3 · Investment income

  total $126,737 · excluded $126,737

• 6a · Gross rents

  real property $109,579

• 6c · Rental income or loss

  real property $109,579

• 6d · Net rental income or loss

  total $109,579 · excluded $109,579

• 7a · Gross sales of assets other than inventory

  other assets $90,413

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

  other assets $45,251

• 7c · Gain or loss

  other assets $45,162

• 7d · Net gain or loss

  total $45,162 · excluded $45,162

• 10a · Gross sales of inventory

  $533,237

• 10b · Cost of goods sold

  $474,312

• 10c · Net income from sales of inventory

  total $58,925 · excluded $58,925

• 11a · Other revenue: OTHER

  total $157,254 · excluded $157,254

• 11b · Other revenue: INTERCONNECTION FEE

  total $1,500 · excluded $1,500

• 11e · Other revenue, total

  $158,754

Functional expenses

Part IX, the statement of functional expenses.

• 4 · Benefits paid to or for members

  total $5,349,594

• 5 · Compensation of officers, directors and key employees

  total $1,373,686

• 7 · Other salaries and wages

  total $908,938

• 20 · Interest

  total $2,198,300

• 22 · Depreciation, depletion and amortization

  total $5,226,881

• 24a · Other expenses: PURCHASED POWER

  total $55,398,812

• 24b · Other expenses: DISTRIBUTION

  total $8,849,561

• 24c · Other expenses: CONSUMER EXPENSE

  total $1,761,646

• 24d · Other expenses: TAXES

  total $1,544,036

• 24e · All other expenses

  total $605,321

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $1,414,690 · end of year $968,312

• 2 · Savings and temporary cash investments

  beginning of year $1,096,955 · end of year $862,359

• 4 · Accounts receivable

  beginning of year $13,026,189 · end of year $11,395,382

• 8 · Inventories for sale or use

  beginning of year $2,351,008 · end of year $2,305,153

• 9 · Prepaid expenses and deferred charges

  beginning of year $85,085 · end of year $797,941

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

  $175,355,380

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

  $48,307,403

• 10c · Land, buildings and equipment, net

  beginning of year $123,260,403 · end of year $127,047,977

• 12 · Investments: other securities

  beginning of year $40,826,881 · end of year $43,775,324

• 17 · Accounts payable and accrued expenses

  beginning of year $7,634,988 · end of year $9,397,656

• 23 · Secured mortgages and notes payable

  beginning of year $63,009,677 · end of year $60,732,810

• 25 · Other liabilities

  beginning of year $10,376,491 · end of year $9,871,972

• 29 · Capital stock, trust principal or current funds

  beginning of year $113,560 · end of year $113,210

• 30 · Paid-in or capital surplus, or land, building or equipment fund

  beginning of year $15,699,801 · end of year $16,939,110

• 31 · Retained earnings, endowment or other funds

  beginning of year $85,226,694 · end of year $90,097,690

The filer's explanations (Part III)

SCHEDULE J, PART III

JENNIFER MEASON ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 145,965 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,988 TOTAL REPORTED IN COLUMN C 154,954 LESS: ACTUARIAL INCREASE (145,965) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 77,054 EXPENSE TO THE COOPERATIVE 86,042 MICHAEL OTTINGER ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 45,660 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,919 TOTAL REPORTED IN COLUMN C 50,579 LESS: ACTUARIAL INCREASE ( 45,660) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 42,599 EXPENSE TO THE COOPERATIVE 47,518 BRYCE HOOPER ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 63,569 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,674 TOTAL REPORTED IN COLUMN C 69,243 LESS: ACTUARIAL INCREASE ( 63,569) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 48,444 EXPENSE TO THE COOPERATIVE 54,118 CLINT INGRAM ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 56,569 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,788 TOTAL REPORTED IN COLUMN C 60,357 LESS: ACTUARIAL INCREASE ( 56,569) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,802 EXPENSE TO THE COOPERATIVE 36,590 ZACHARY SMITH ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 17,084 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,368 TOTAL REPORTED IN COLUMN C 20,452 LESS: ACTUARIAL INCREASE ( 17,084) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 29,169 EXPENSE TO THE COOPERATIVE 32,537 JEROMY BOWERS ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 16,333 EMPLOYER CONTRIBUTION TO 401(K) PLAN 4,391 TOTAL REPORTED IN COLUMN C 20,724 LESS: ACTUARIAL INCREASE ( 16,333) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 37,346 EXPENSE TO THE COOPERATIVE 41,737 JOHN WIYGUL ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 11,804 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,936 TOTAL REPORTED IN COLUMN C 14,740 LESS: ACTUARIAL INCREASE ( 11,804) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,426 EXPENSE TO THE COOPERATIVE 28,362 KEETON SALLEE ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 4,631 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,936 TOTAL REPORTED IN COLUMN C 7,567 LESS: ACTUARIAL INCREASE ( 4,631) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,426 EXPENSE TO THE COOPERATIVE 28,362 WALTER DENNIS ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN 42,616 EMPLOYER CONTRIBUTION TO 401(K) PLAN 2,936 TOTAL REPORTED IN COLUMN C 45,552 LESS: ACTUARIAL INCREASE ( 42,616) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 25,426 EXPENSE TO THE COOPERATIVE 28,362

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• COTTON ELECTRIC SERVICES INC

  C CORP · TESTING · OK · 100% owned · share of income $1,115,205 · share of assets $2,798,574

  Directly controlled by CEC COTTON ELECTRIC COOPERATIVE