Skip to content
Nonprofiteer
← NOLIN RURAL ELECTRIC COOPERATIVE CORPORATION

Form 990 for tax year 2024

Filed by NOLIN RURAL ELECTRIC COOPERATIVE CORPORATION.

Totals

Total revenue
$94,669,933
Total expenses
$94,669,933
Contributions and grants received
$0
Grants paid
$12,750
Program service revenue
$92,203,147
Investment income
$1,138,273
Other revenue
$1,328,513
Total assets, end of year
$168,279,334
Total liabilities, end of year
$67,650,786
Net assets or fund balances, end of year
$100,628,548
Program services expenses (Part IX)
$94,669,933
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$94,669,933

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 2a · Program service revenue: ELECTRIC REVENUE

    total $92,167,160 · related or exempt $92,167,160

  • 2b · Program service revenue: OTHER ELECTRIC REVENUES

    total $35,987 · related or exempt $35,987

  • 3 · Investment income

    total $1,131,023 · excluded $1,131,023

  • 7a · Gross sales of assets other than inventory

    other assets $7,250

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

    other assets $0

  • 7c · Gain or loss

    other assets $7,250

  • 7d · Net gain or loss

    total $7,250 · related or exempt $7,250

  • 11a · Other revenue: PATRONAGE CAPITAL ASSIGND

    total $550,278 · related or exempt $550,278

  • 11b · Other revenue: G&T CAPITAL CREDIT

    total $407,966 · related or exempt $407,966

  • 11c · Other revenue: JOINT USE ATTACHMENTS

    total $370,269 · excluded $370,269

  • 11e · Other revenue, total

    $1,328,513

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $12,750 · program services $12,750

  • 4 · Benefits paid to or for members

    total $4,457,736 · program services $4,457,736

  • 5 · Compensation of officers, directors and key employees

    total $546,459 · program services $546,459

  • 7 · Other salaries and wages

    total $9,267,128 · program services $9,267,128

  • 8 · Pension plan contributions

    total $2,240,897 · program services $2,240,897

  • 9 · Other employee benefits

    total $1,565,876 · program services $1,565,876

  • 10 · Payroll taxes

    total $2,550,095 · program services $2,550,095

  • 11b · Fees: legal

    total $7,852 · program services $7,852

  • 11c · Fees: accounting

    total $26,655 · program services $26,655

  • 13 · Office expenses

    total $170,930 · program services $170,930

  • 20 · Interest

    total $2,903,244 · program services $2,903,244

  • 22 · Depreciation, depletion and amortization

    total $5,180,177 · program services $5,180,177

  • 23 · Insurance

    total $392,932 · program services $392,932

  • 24a · Other expenses: COST OF POWER

    total $63,302,776 · program services $63,302,776

  • 24b · Other expenses: DISTRIBUTION - MAINTENA

    total $6,825,326 · program services $6,825,326

  • 24c · Other expenses: DISTRIBUTION - OPERATIO

    total $4,903,183 · program services $4,903,183

  • 24d · Other expenses: ADMINISTRATIVE AND GENE

    total $4,052,083 · program services $4,052,083

  • 24e · All other expenses

    total -$13,736,166 · program services -$13,736,166

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,540,560 · end of year $11,126,660

  • 4 · Accounts receivable

    beginning of year $10,139,576 · end of year $11,223,029

  • 7 · Other notes and loans receivable

    beginning of year $9,096,787 · end of year $4,482,426

  • 8 · Inventories for sale or use

    beginning of year $1,918,465 · end of year $1,746,829

  • 9 · Prepaid expenses and deferred charges

    beginning of year $47,430 · end of year $56,843

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

    $151,137,471

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

    $70,142,734

  • 10c · Land, buildings and equipment, net

    beginning of year $78,411,342 · end of year $80,994,737

  • 13 · Investments: program-related

    beginning of year $57,427,859 · end of year $58,648,810

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,667,819 · end of year $7,149,320

  • 23 · Secured mortgages and notes payable

    beginning of year $54,659,461 · end of year $50,144,006

  • 25 · Other liabilities

    beginning of year $11,709,291 · end of year $10,357,460

  • 29 · Capital stock, trust principal or current funds

    beginning of year $250,980 · end of year $249,310

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

    beginning of year -$1,226,266 · end of year $845,460

  • 31 · Retained earnings, endowment or other funds

    beginning of year $96,520,734 · end of year $99,533,778

Mission and programs · 2024

Mission

PROVIDE ELECTRIC SERVICE ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF 38,201 CONSUMERS.

  • PROVIDE ELECTRIC SERVICE ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF 38,201 CONSUMERS.

    Expenses $94,669,933 · Grants $12,750 · Revenue $93,168,641

As filed on the 2024 return.

Listed in Part VII

  • David Brown

    CHAIRMAN

    Total calculated
    $18,439
    From this org
    $18,439
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.75

  • Gene Straney

    VICE CHAIRMAN

    Total calculated
    $18,647
    From this org
    $18,647
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.54

  • Mark Cochran

    DIRECTOR

    Total calculated
    $24,030
    From this org
    $24,030
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.54

  • Lawrence Ireland

    DIRECTOR

    Total calculated
    $17,980
    From this org
    $17,980
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.63

  • Linda Grimes

    DIRECTOR

    Total calculated
    $21,839
    From this org
    $21,839
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.92

  • Raymond Thomas

    SECRETARY/TREASURER

    Total calculated
    $20,639
    From this org
    $20,639
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.54

  • Greg Lee

    PRESIDENT/CEO

    Total calculated
    $369,956
    From this org
    $265,204
    From related orgs
    $0
    Other
    $104,752
    Hours/week
    39.91

    Schedule J breakdown matched by us

    Base
    $265,204
    Bonus
    $0
    Other
    $0
    Deferred
    $81,800
    Nontaxable benefits
    $22,952
    Filer's total
    $369,956

  • Sara Roberson

    VP, ADMINISTRATION/FINANCE

    Total calculated
    $185,155
    From this org
    $159,681
    From related orgs
    $0
    Other
    $25,474
    Hours/week
    43.17

    Schedule J breakdown matched by us

    Base
    $159,681
    Bonus
    $0
    Other
    $0
    Deferred
    $3,311
    Nontaxable benefits
    $22,163
    Filer's total
    $185,155

  • David Cox

    VP INFORMATION TECHNOLOGY

    Total calculated
    $219,246
    From this org
    $151,466
    From related orgs
    $0
    Other
    $67,780
    Hours/week
    40.47

    Schedule J breakdown matched by us

    Base
    $151,466
    Bonus
    $0
    Other
    $0
    Deferred
    $45,727
    Nontaxable benefits
    $22,053
    Filer's total
    $219,246

  • Andrew Patterson

    MGR OF OPERATIONS

    Total calculated
    $169,330
    From this org
    $150,059
    From related orgs
    $0
    Other
    $19,271
    Hours/week
    41.88

    Schedule J breakdown matched by us

    Base
    $150,059
    Bonus
    $0
    Other
    $0
    Deferred
    $2,869
    Nontaxable benefits
    $16,402
    Filer's total
    $169,330

  • Joshua Sanders

    SR LINE TECH/CREW LEADER

    Total calculated
    $204,503
    From this org
    $151,155
    From related orgs
    $0
    Other
    $53,348
    Hours/week
    54.07

    Schedule J breakdown matched by us

    Base
    $151,155
    Bonus
    $0
    Other
    $0
    Deferred
    $31,650
    Nontaxable benefits
    $21,698
    Filer's total
    $204,503

  • Russ Stanger

    SR LINE TECH/CREW LEADER

    Total calculated
    $207,440
    From this org
    $152,692
    From related orgs
    $0
    Other
    $54,748
    Hours/week
    54.67

    Schedule J breakdown matched by us

    Base
    $152,692
    Bonus
    $0
    Other
    $0
    Deferred
    $33,011
    Nontaxable benefits
    $21,737
    Filer's total
    $207,440

  • Anthony Huff

    SR LINE TECH/CREW LEADER

    Total calculated
    $211,711
    From this org
    $165,218
    From related orgs
    $0
    Other
    $46,493
    Hours/week
    57.62

    Schedule J breakdown matched by us

    Base
    $165,218
    Bonus
    $0
    Other
    $0
    Deferred
    $31,650
    Nontaxable benefits
    $14,843
    Filer's total
    $211,711

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • WIDE OPEN UTILITY SERVICE LLC

    UTILITY SERVICE · KY · income $0 · assets $3,934,650

Provenance

Return type
form_990
Tax year
2024
Filed
8 May 2025
IRS schema version
2024v5.1
Source object
202521299349302387

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.