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Nonprofiteer
← STEUBEN COUNTY RURAL ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2024

Filed by STEUBEN COUNTY RURAL ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$31,294,376
Total expenses
$28,581,224
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$30,196,066
Investment income
$21,835
Other revenue
$1,076,475
Total assets, end of year
$76,297,082
Total liabilities, end of year
$50,822,382
Net assets or fund balances, end of year
$25,474,700
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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: SALE OF ELECTRICITY

    total $30,196,066 · related or exempt $30,196,066

  • 3 · Investment income

    total $21,835 · excluded $21,835

  • 11a · Other revenue: PATRONAGE CREDITS

    total $1,074,342 · related or exempt $1,074,342

  • 11b · Other revenue: MISCELLANEOUS

    total $2,133 · excluded $2,133

  • 11e · Other revenue, total

    $1,076,475

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $320,645

  • 7 · Other salaries and wages

    total $1,804,223

  • 8 · Pension plan contributions

    total $504,951

  • 9 · Other employee benefits

    total $460,709

  • 10 · Payroll taxes

    total $170,163

  • 11b · Fees: legal

    total $5,268

  • 11c · Fees: accounting

    total $19,000

  • 11g · Fees: other

    total $4,395

  • 12 · Advertising and promotion

    total $105,039

  • 13 · Office expenses

    total $140,732

  • 14 · Information technology

    total $235,007

  • 20 · Interest

    total $1,873,839

  • 22 · Depreciation, depletion and amortization

    total $2,596,709

  • 23 · Insurance

    total $80,904

  • 24a · Other expenses: COST OF POWER

    total $18,145,652

  • 24b · Other expenses: ADMINISTRATIVE AND GENERA

    total $1,341,827

  • 24c · Other expenses: DISTRIBUTION EXP - OPERAT

    total $293,909

  • 24d · Other expenses: CUSTOMER ACCOUNTS EXPENSE

    total $199,578

  • 24e · All other expenses

    total $278,674

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $261,632 · end of year $246,686

  • 2 · Savings and temporary cash investments

    beginning of year $644,743 · end of year $829,587

  • 4 · Accounts receivable

    beginning of year $2,729,200 · end of year $2,856,316

  • 8 · Inventories for sale or use

    beginning of year $976,946 · end of year $496,456

  • 9 · Prepaid expenses and deferred charges

    beginning of year $174,409 · end of year $216,339

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

    $80,096,950

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

    $18,459,876

  • 10c · Land, buildings and equipment, net

    beginning of year $58,413,354 · end of year $61,637,074

  • 12 · Investments: other securities

    beginning of year $9,043,501 · end of year $10,014,254

  • 14 · Intangible assets

    beginning of year $370 · end of year $370

  • 15 · Other assets

    beginning of year $82,325

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,682,811 · end of year $1,741,435

  • 23 · Secured mortgages and notes payable

    beginning of year $44,906,150 · end of year $47,029,147

  • 25 · Other liabilities

    beginning of year $1,958,128 · end of year $2,051,800

  • 29 · Capital stock, trust principal or current funds

    beginning of year $221,770 · end of year $223,340

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

    beginning of year $2,244,454 · end of year $2,225,999

  • 31 · Retained earnings, endowment or other funds

    beginning of year $20,313,167 · end of year $23,025,361

Mission and programs · 2024

Mission

ELECTRIC COOPERATIVE

  • DISTRIBUTION OF ELECTRICITY AND RELIABLE HIGH SPEED INTERNET TO RURAL CUSTOMERS

As filed on the 2024 return.

Listed in Part VII

  • Wayne Gingrich

    PRES

    Total calculated
    $10,800
    From this org
    $10,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.95

  • Larry Jack

    V PRES

    Total calculated
    $6,800
    From this org
    $6,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.87

  • Gary Shough

    SEC/TREAS

    Total calculated
    $12,000
    From this org
    $12,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.96

  • Marc Nelson

    DIRECTOR

    Total calculated
    $10,800
    From this org
    $10,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.28

  • Carter Snider

    DIRECTOR

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.52

  • Michael Kurtz

    DIRECTOR

    Total calculated
    $6,400
    From this org
    $6,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    9.72

  • William Snyder

    DIRECTOR

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.31

  • Neasa Kalme

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.93

  • Samuel Gus Reed

    DIRECTOR

    Total calculated
    $7,200
    From this org
    $7,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.33

  • Kevin Keiser

    CEO

    Total calculated
    $248,645
    From this org
    $219,426
    From related orgs
    $0
    Other
    $29,219
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $219,426
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $29,219
    Filer's total
    $248,645

  • Namon Meyers

    LINEMAN

    Total calculated
    $129,383
    From this org
    $120,766
    From related orgs
    $0
    Other
    $8,617
    Hours/week
    40

  • Dustin Everetts

    DIRECTOR OF

    Total calculated
    $134,349
    From this org
    $128,996
    From related orgs
    $0
    Other
    $5,353
    Hours/week
    40

  • Braden Nichols

    LINEMAN

    Total calculated
    $125,886
    From this org
    $107,399
    From related orgs
    $0
    Other
    $18,487
    Hours/week
    40

  • Steve Smith

    CFO

    Total calculated
    $134,873
    From this org
    $113,283
    From related orgs
    $0
    Other
    $21,590
    Hours/week
    40

  • Daylon Ulrich

    LINEMAN

    Total calculated
    $126,491
    From this org
    $116,037
    From related orgs
    $0
    Other
    $10,454
    Hours/week
    40

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

None.

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.

Related corporations and trusts

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

  • RE-COMM INC

    C CORP · TELE/INTER · IN · 100% owned · share of income $358 · share of assets $84,151

    Directly controlled by STEUBEN COUNTY REMC

Provenance

Return type
form_990
Tax year
2024
Filed
2 June 2025
IRS schema version
2024v5.0
Source object
202511749349301196

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