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Nonprofiteer
← PANHANDLE RURAL ELECTRIC MEMBERSHIP ASSOCIATION

Form 990 for tax year 2024

Filed by PANHANDLE RURAL ELECTRIC MEMBERSHIP ASSOCIATION.

Totals

Total revenue
$19,412,349
Total expenses
$15,766,919
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$18,681,772
Investment income
$710,330
Other revenue
$20,247
Total assets, end of year
$43,154,598
Total liabilities, end of year
$19,759,431
Net assets or fund balances, end of year
$23,395,167
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 $18,635,488 · related or exempt $18,635,488

  • 2b · Program service revenue: Other electric revenue

    total $46,284 · related or exempt $46,284

  • 3 · Investment income

    total $702,180 · related or exempt $682,203 · excluded $19,977

  • 7a · Gross sales of assets other than inventory

    other assets $8,150

  • 7c · Gain or loss

    other assets $8,150

  • 7d · Net gain or loss

    total $8,150 · related or exempt $8,150

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: Merchandising and misc

    total $20,247 · related or exempt $20,247

  • 11e · Other revenue, total

    $20,247

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $326,361

  • 5 · Compensation of officers, directors and key employees

    total $228,251

  • 7 · Other salaries and wages

    total $1,827,707

  • 8 · Pension plan contributions

    total $459,537

  • 9 · Other employee benefits

    total $492,072

  • 10 · Payroll taxes

    total $186,187

  • 11b · Fees: legal

    total $17,418

  • 11c · Fees: accounting

    total $7,500

  • 12 · Advertising and promotion

    total $42,947

  • 13 · Office expenses

    total $86,602

  • 14 · Information technology

    total $164,523

  • 16 · Occupancy

    total $252,400

  • 19 · Conferences, conventions and meetings

    total $260,798

  • 20 · Interest

    total $751,458

  • 22 · Depreciation, depletion and amortization

    total $1,108,549

  • 23 · Insurance

    total $172,761

  • 24a · Other expenses: Cost of power sold

    total $9,474,066 · program services $9,474,066

  • 24b · Other expenses: Less Capitalized expenses

    total -$92,218 · program services -$92,218

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $857,678 · end of year $702,176

  • 4 · Accounts receivable

    beginning of year $940,595 · end of year $956,237

  • 8 · Inventories for sale or use

    beginning of year $1,594,805 · end of year $1,508,225

  • 9 · Prepaid expenses and deferred charges

    beginning of year $211,489 · end of year $174,259

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

    $48,793,924

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

    $18,514,569

  • 10c · Land, buildings and equipment, net

    beginning of year $29,673,077 · end of year $30,279,355

  • 13 · Investments: program-related

    beginning of year $9,074,842 · end of year $9,534,346

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,382,595 · end of year $1,104,395

  • 19 · Deferred revenue

    beginning of year $12,852 · end of year $700,598

  • 23 · Secured mortgages and notes payable

    beginning of year $18,372,025 · end of year $17,141,886

  • 24 · Unsecured notes and loans payable

    beginning of year $2,300,000 · end of year $800,000

  • 25 · Other liabilities

    beginning of year $657,334 · end of year $12,552

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

    beginning of year $1,641,041 · end of year $1,763,098

  • 31 · Retained earnings, endowment or other funds

    beginning of year $17,986,639 · end of year $21,632,069

Mission and programs · 2024

Mission

To provide safe, reliable, efficient, and reasonably priced electricity and services to its members to improve the quality of their lives

  • Provided electric utility service to its members.

As filed on the 2024 return.

Listed in Part VII

  • Zac Bryant

    General Manager

    Total calculated
    $190,267
    From this org
    $158,581
    From related orgs
    $0
    Other
    $31,686
    Hours/week
    40

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $151,381
    Bonus
    not reported
    Other
    $7,200
    Deferred
    $16,914
    Nontaxable benefits
    $14,772
    Filer's total
    $190,267

  • Boone Manion

    Operations Manager

    Total calculated
    $184,567
    From this org
    $118,855
    From related orgs
    $0
    Other
    $65,712
    Hours/week
    40

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $115,500
    Bonus
    $3,355
    Other
    not reported
    Deferred
    $30,154
    Nontaxable benefits
    $35,558
    Filer's total
    $184,567

  • Doug Hickox

    Alliance Foreman

    Total calculated
    $181,225
    From this org
    $123,258
    From related orgs
    $0
    Other
    $57,967
    Hours/week
    48

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $122,403
    Bonus
    $855
    Other
    not reported
    Deferred
    $22,806
    Nontaxable benefits
    $35,161
    Filer's total
    $181,225

  • Anthony Burton

    Hyannis Foreman

    Total calculated
    $170,634
    From this org
    $118,584
    From related orgs
    $0
    Other
    $52,050
    Hours/week
    46

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $117,729
    Bonus
    $855
    Other
    not reported
    Deferred
    $24,005
    Nontaxable benefits
    $28,045
    Filer's total
    $170,634

  • Tyler Trout

    Lineman

    Total calculated
    $154,489
    From this org
    $108,159
    From related orgs
    $0
    Other
    $46,330
    Hours/week
    49

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    $107,484
    Bonus
    $675
    Other
    not reported
    Deferred
    $12,449
    Nontaxable benefits
    $33,881
    Filer's total
    $154,489

  • Dale Knapp

    Staking Engineer

    Total calculated
    $147,929
    From this org
    $120,770
    From related orgs
    $0
    Other
    $27,159
    Hours/week
    40

  • RD Sutphen

    President

    Total calculated
    $10,880
    From this org
    $9,800
    From related orgs
    $0
    Other
    $1,080
    Hours/week
    1

  • Bryan Monahan

    Secretary - Treasurer

    Total calculated
    $8,742
    From this org
    $6,300
    From related orgs
    $0
    Other
    $2,442
    Hours/week
    1

  • Wayne Crawford

    Director

    Total calculated
    $3,768
    From this org
    $3,500
    From related orgs
    $0
    Other
    $268
    Hours/week
    1

  • Marty Larsen

    Director

    Total calculated
    $3,765
    From this org
    $2,800
    From related orgs
    $0
    Other
    $965
    Hours/week
    1

  • Michael Collins

    Director

    Total calculated
    $3,661
    From this org
    $3,500
    From related orgs
    $0
    Other
    $161
    Hours/week
    1

  • Phil Zochol

    Vice President

    Total calculated
    $3,331
    From this org
    $3,150
    From related orgs
    $0
    Other
    $181
    Hours/week
    1

  • Chris Cullan

    Director

    Total calculated
    $2,619
    From this org
    $2,450
    From related orgs
    $0
    Other
    $169
    Hours/week
    1

  • Dale Berndt

    Director

    Total calculated
    $1,219
    From this org
    $1,050
    From related orgs
    $0
    Other
    $169
    Hours/week
    1

    Schedule J breakdown matched by us · ignoring case and punctuation

    Base
    not reported
    Bonus
    not reported
    Other
    $1,050
    Deferred
    not reported
    Nontaxable benefits
    $169
    Filer's total
    $1,219

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 · 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.

Provenance

Return type
form_990
Tax year
2024
Filed
6 November 2025
IRS schema version
2024v5.2
Source object
202503109349302150

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