Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 2a · Program service revenue: SALE OF ELECTRICITY

  total $77,678,584 · related or exempt $77,678,584

• 2b · Program service revenue: OTHER OPERATING REVENUE

  total $6,921,656 · related or exempt $6,921,656

• 2c · Program service revenue: G&T AND OTHER PATRONAGE CREDITS

  total $670,387 · related or exempt $670,387

• 3 · Investment income

  total $2,730,926 · excluded $2,730,926

• 6a · Gross rents

  real property $185,235

• 6b · Less rental expenses

  real property $32,055

• 6c · Rental income or loss

  real property $153,180

• 6d · Net rental income or loss

  total $153,180 · excluded $153,180

• 10a · Gross sales of inventory

  $91,901

• 10b · Cost of goods sold

  $89,099

• 10c · Net income from sales of inventory

  total $2,802 · related or exempt $2,802

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $30,585

• 2 · Grants to domestic individuals

  total $29,992

• 4 · Benefits paid to or for members

  total $8,718,205

• 5 · Compensation of officers, directors and key employees

  total $1,039,390

• 20 · Interest

  total $1,028,797

• 22 · Depreciation, depletion and amortization

  total $6,116,295

• 24a · Other expenses: COST OF POWER

  total $49,959,455

• 24b · Other expenses: DISTRIBUTIONS - OPERATI

  total $11,228,569

• 24c · Other expenses: ADMINISTRATIVE & GENERA

  total $4,298,766

• 24d · Other expenses: DISTRIBUTION - MAINTENA

  total $3,533,883

• 24e · All other expenses

  total $1,279,374

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $26,569,974 · end of year $36,698,726

• 4 · Accounts receivable

  beginning of year $12,683,774 · end of year $14,167,303

• 7 · Other notes and loans receivable

  beginning of year $2,131,815 · end of year $2,081,946

• 8 · Inventories for sale or use

  beginning of year $3,958,940 · end of year $1,561,392

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,902,070 · end of year $1,463,200

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

  $223,716,734

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

  $88,236,910

• 10c · Land, buildings and equipment, net

  beginning of year $126,953,282 · end of year $135,479,824

• 12 · Investments: other securities

  beginning of year $92,652 · end of year $100,843

• 13 · Investments: program-related

  beginning of year $31,245,083 · end of year $31,657,293

• 15 · Other assets

  beginning of year $264,707 · end of year $569,909

• 17 · Accounts payable and accrued expenses

  beginning of year $5,183,995 · end of year $8,498,975

• 23 · Secured mortgages and notes payable

  beginning of year $36,935,172 · end of year $30,159,962

• 25 · Other liabilities

  beginning of year $71,074,815 · end of year $82,380,324

• 29 · Capital stock, trust principal or current funds

  beginning of year $35,465 · end of year $36,090

• 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 $95,572,850 · end of year $102,705,085

The filer's explanations (Part III)

PART I, LINE 1A

THE CHIEF EXECUTIVE OFFICER, THERESA QUIROZ, IS OFFERED, AS PART OF HER COMPENSATION PACKAGE, THE ABILITY TO LIVE IN A HOUSE OWNED BY THE COOPERATIVE AS STATED IN A BOARD RESOLUTION. THIS AMOUNT IS INCLUDED IN HER TAXABLE COMPENSATION ON HER W-2 FOR INCOME TAX PURPOSES. SHE RECEIVED $22,200 AS A HOUSING ALLOWANCE IN 2023.

SCHEDULE J, PART II, COLUMN C

INCLUDED IN OTHER COMPENSATION IS THE ESTIMATED CURRENT YEAR INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE DEFINED BENEFIT PLAN FOR EMPLOYEES LISTED ON SCH J. THE CURRENT YEAR INCREASE OR DECREASE DOES NOT REPRESENT CURRENT YEAR CONTRIBUTIONS TO THE PLAN. RATHER, IT IS AN ESTIMATE OF THE INCREASE OR DECREASE IN THE ACTUARIAL VALUE OF THE PLAN AS CALCULATED BY THE PLAN ADMINISTRATOR.