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Nonprofiteer
← BOONE ELECTRIC COOPERATIVE

Form 990 for tax year 2025

Filed by BOONE ELECTRIC COOPERATIVE.

Totals

Total revenue
$81,103,577
Total expenses
$76,402,072
Contributions and grants received
$0
Grants paid
$227,663
Program service revenue
$80,923,551
Investment income
$180,026
Other revenue
$0
Total assets, end of year
$230,016,251
Total liabilities, end of year
$129,565,107
Net assets or fund balances, end of year
$100,451,144
Program services expenses (Part IX)
$76,402,072
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$76,402,072

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: Sales of Energy

    total $75,766,041 · related or exempt $75,766,041

  • 2b · Program service revenue: Capital Credits

    total $4,364,116 · related or exempt $4,364,116

  • 2c · Program service revenue: Other Electric Revenues

    total $727,659 · related or exempt $727,659

  • 2d · Program service revenue: Merchandising

    total $59,667 · related or exempt $59,667

  • 2e · Program service revenue: Non-Operating

    total $6,068 · related or exempt $6,068

  • 3 · Investment income

    total $179,169 · related or exempt $179,169

  • 7a · Gross sales of assets other than inventory

    other assets $5,150

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

    other assets $4,293

  • 7c · Gain or loss

    other assets $857

  • 7d · Net gain or loss

    total $857 · related or exempt $857

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $227,663 · program services $227,663

  • 4 · Benefits paid to or for members

    total $3,316,916 · program services $3,316,916

  • 5 · Compensation of officers, directors and key employees

    total $1,069,280 · program services $1,069,280

  • 20 · Interest

    total $5,059,948 · program services $5,059,948

  • 22 · Depreciation, depletion and amortization

    total $7,442,318 · program services $7,442,318

  • 24a · Other expenses: Cost of Purchased Power

    total $40,749,999 · program services $40,749,999

  • 24b · Other expenses: Distribution Exp-Mainte

    total $5,393,193 · program services $5,393,193

  • 24c · Other expenses: Distribution Exp-Operat

    total $4,941,044 · program services $4,941,044

  • 24d · Other expenses: Administrative and Gene

    total $4,661,345 · program services $4,661,345

  • 24e · All other expenses

    total $3,540,366 · program services $3,540,366

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,430,139 · end of year $5,865,526

  • 4 · Accounts receivable

    beginning of year $6,547,341 · end of year $6,989,197

  • 8 · Inventories for sale or use

    beginning of year $3,625,920 · end of year $3,080,143

  • 9 · Prepaid expenses and deferred charges

    beginning of year $155,450 · end of year $192,922

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

    $234,588,561

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

    $65,233,534

  • 10c · Land, buildings and equipment, net

    beginning of year $168,006,423 · end of year $169,355,027

  • 13 · Investments: program-related

    beginning of year $41,346,939 · end of year $44,533,436

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,232,193 · end of year $9,998,408

  • 23 · Secured mortgages and notes payable

    beginning of year $117,981,123 · end of year $118,267,332

  • 25 · Other liabilities

    beginning of year $1,149,257 · end of year $1,299,367

  • 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 $95,749,639 · end of year $100,451,144

Mission and programs · 2025

Mission

The mission of Boone Electric Cooperative is to be responsive to our members' needs by providing a dependable supply of electric energy and other services at the lowest possible cost consistent with sound business practices and cooperative principles.

Activities or mission (Part I)

To provide electricity to our cooperative members

  • Retail sale of electricity to members, owners and consumers

    Expenses $76,402,072 · Grants $227,663 · Revenue $81,103,577

As filed on the 2025 return.

Listed in Part VII

  • Todd Culley

    CEO

    Total calculated
    $643,006
    From this org
    $437,369
    From related orgs
    $0
    Other
    $205,637
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $372,732
    Bonus
    $58,239
    Other
    $6,398
    Deferred
    $180,152
    Nontaxable benefits
    $25,485
    Filer's total
    $643,006

  • Vicki Kemna

    Assistant Manager

    Total calculated
    $451,705
    From this org
    $257,740
    From related orgs
    $0
    Other
    $193,965
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $237,012
    Bonus
    $7,256
    Other
    $13,472
    Deferred
    $169,597
    Nontaxable benefits
    $24,368
    Filer's total
    $451,705

  • Ryan Euliss

    CFO/Manager of Finance

    Total calculated
    $357,269
    From this org
    $224,363
    From related orgs
    $0
    Other
    $132,906
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $205,886
    Bonus
    $6,313
    Other
    $12,164
    Deferred
    $118,537
    Nontaxable benefits
    $14,369
    Filer's total
    $357,269

  • Andrew Petri

    Manager of Engineering and

    Total calculated
    $346,999
    From this org
    $218,810
    From related orgs
    $0
    Other
    $128,189
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $201,645
    Bonus
    $6,250
    Other
    $10,915
    Deferred
    $101,770
    Nontaxable benefits
    $26,419
    Filer's total
    $346,999

  • James Goodnight

    Operations Manager

    Total calculated
    $362,044
    From this org
    $204,140
    From related orgs
    $0
    Other
    $157,904
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $185,174
    Bonus
    $6,123
    Other
    $12,843
    Deferred
    $130,991
    Nontaxable benefits
    $26,913
    Filer's total
    $362,044

  • Laura Baker

    Mgr Member Svcs

    Total calculated
    $319,629
    From this org
    $180,682
    From related orgs
    $0
    Other
    $138,947
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $165,158
    Bonus
    $5,948
    Other
    $9,576
    Deferred
    $108,161
    Nontaxable benefits
    $30,786
    Filer's total
    $319,629

  • Paul Karsten

    Journeyman Lineman

    Total calculated
    $201,351
    From this org
    $157,909
    From related orgs
    $0
    Other
    $43,442
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $137,806
    Bonus
    $19,198
    Other
    $905
    Deferred
    $10,560
    Nontaxable benefits
    $32,882
    Filer's total
    $201,351

  • Travis Meyers

    Line Foreman

    Total calculated
    $197,681
    From this org
    $151,772
    From related orgs
    $0
    Other
    $45,909
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $136,383
    Bonus
    $14,454
    Other
    $935
    Deferred
    $15,893
    Nontaxable benefits
    $30,016
    Filer's total
    $197,681

  • Scott Douglas

    System Engineer

    Total calculated
    $175,983
    From this org
    $143,671
    From related orgs
    $0
    Other
    $32,312
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,377
    Bonus
    $3,048
    Other
    $1,246
    Deferred
    $14,026
    Nontaxable benefits
    $18,286
    Filer's total
    $175,983

  • Scott Thieret

    Mgr Env Health/Safety

    Total calculated
    $196,391
    From this org
    $142,549
    From related orgs
    $0
    Other
    $53,842
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $126,615
    Bonus
    $5,630
    Other
    $10,304
    Deferred
    $30,748
    Nontaxable benefits
    $23,094
    Filer's total
    $196,391

  • Jacob Mebruer

    Lead Lineman

    Total calculated
    $176,069
    From this org
    $141,751
    From related orgs
    $0
    Other
    $34,318
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $125,340
    Bonus
    $14,762
    Other
    $1,649
    Deferred
    $5,532
    Nontaxable benefits
    $28,786
    Filer's total
    $176,069

  • Adams Bauer

    Line Foreman

    Total calculated
    $175,954
    From this org
    $139,933
    From related orgs
    $0
    Other
    $36,021
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $129,749
    Bonus
    $9,320
    Other
    $864
    Deferred
    $5,908
    Nontaxable benefits
    $30,113
    Filer's total
    $175,954

  • James Flenoid II

    IT Supervisor

    Total calculated
    $244,620
    From this org
    $138,757
    From related orgs
    $0
    Other
    $105,863
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,905
    Bonus
    $3,158
    Other
    $2,694
    Deferred
    $81,137
    Nontaxable benefits
    $24,726
    Filer's total
    $244,620

  • Darin Schnarre

    Director

    Total calculated
    $50,077
    From this org
    $50,077
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Caroline Andriano

    Director

    Total calculated
    $48,539
    From this org
    $48,539
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • John Bullard

    Treasurer

    Total calculated
    $35,618
    From this org
    $35,618
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Andrew Stanton

    Director

    Total calculated
    $32,447
    From this org
    $32,447
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Kimberly Ponder

    President

    Total calculated
    $24,582
    From this org
    $24,582
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Michelle Motley

    Secretary

    Total calculated
    $15,262
    From this org
    $15,262
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Wayne Wilcox

    Vice President

    Total calculated
    $13,563
    From this org
    $13,563
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joel Bullard

    Director

    Total calculated
    $13,450
    From this org
    $13,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Teresa Voeller

    Director

    Total calculated
    $11,119
    From this org
    $11,119
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Frank Glenn

    Director

    Total calculated
    $6,725
    From this org
    $6,725
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

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

  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

Part I, Line 3
The Board of directors approves the salary of the CEO annually, based on market conditions and information about other electric cooperatives of similar size.

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

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.

  • Boone Electric Satellite Systems Inc

    C · Satellite Sales · MO · 100% owned · share of income $79,363 · share of assets $2,283,951

  • Boone Electric Service Company

    C · Service Company · MO · 100% owned · share of assets $405

Provenance

Return type
form_990
Tax year
2025
Filed
22 April 2026
IRS schema version
2025v4.1
Source object
202621149349301812

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