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Nonprofiteer
← NOBLE COUNTY RURAL ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by NOBLE COUNTY RURAL ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$25,889,887
Total expenses
$26,092,201
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$25,330,655
Investment income
$81,692
Other revenue
$477,540
Total assets, end of year
$42,626,077
Total liabilities, end of year
$15,852,444
Net assets or fund balances, end of year
$26,773,633
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

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: ELECTRIC UTILITY INCOME

    total $25,330,655 · related or exempt $25,330,655 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $73,954 · related or exempt $0 · unrelated business $0 · excluded $73,954

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $7,738

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

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $7,738

  • 7d · Net gain or loss

    total $7,738 · related or exempt $7,738 · unrelated business $0 · excluded $0

  • 11a · Other revenue: CAPITAL CREDIT INCOME

    total $474,811 · related or exempt $0 · unrelated business $0 · excluded $474,811

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $2,729 · related or exempt $0 · unrelated business $0 · excluded $2,729

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $477,540

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $757,541

  • 5 · Compensation of officers, directors and key employees

    total $467,659

  • 7 · Other salaries and wages

    total $1,987,313

  • 8 · Pension plan contributions

    total $424,424

  • 9 · Other employee benefits

    total $452,207

  • 10 · Payroll taxes

    total $171,905

  • 11b · Fees: legal

    total $8,601

  • 11c · Fees: accounting

    total $15,600

  • 11d · Fees: lobbying

    total $2,000

  • 11g · Fees: other

    total $3,000

  • 12 · Advertising and promotion

    total $16,613

  • 13 · Office expenses

    total $102,419

  • 14 · Information technology

    total $291,521

  • 16 · Occupancy

    total $133,380

  • 17 · Travel

    total $119,154

  • 19 · Conferences, conventions and meetings

    total $21,524

  • 20 · Interest

    total $505,636

  • 22 · Depreciation, depletion and amortization

    total $1,674,026

  • 23 · Insurance

    total $87,821

  • 24a · Other expenses: COST OF POWER

    total $17,431,712

  • 24b · Other expenses: OPERATION & MAINT DISTRIBUTION

    total $765,952

  • 24c · Other expenses: ADMIN/CUSTOMER SERVICE/CUSTOMER ACCT

    total $365,583

  • 24d · Other expenses: PROPERTY/UTILITY RECEIPTS TAX

    total $286,610

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,511,725 · end of year $1,417,316

  • 4 · Accounts receivable

    beginning of year $2,553,385 · end of year $2,687,960

  • 8 · Inventories for sale or use

    beginning of year $375,907 · end of year $448,730

  • 9 · Prepaid expenses and deferred charges

    beginning of year $689,348 · end of year $529,826

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

    $51,823,829

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

    $24,335,321

  • 10c · Land, buildings and equipment, net

    beginning of year $26,907,267 · end of year $27,488,508

  • 12 · Investments: other securities

    beginning of year $9,858,461 · end of year $10,049,275

  • 15 · Other assets

    beginning of year $4,462 · end of year $4,462

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,594,685 · end of year $1,872,791

  • 23 · Secured mortgages and notes payable

    beginning of year $11,901,262 · end of year $11,578,649

  • 25 · Other liabilities

    beginning of year $2,338,480 · end of year $2,401,004

  • 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 $2,294,355 · end of year $2,328,370

  • 31 · Retained earnings, endowment or other funds

    beginning of year $24,771,773 · end of year $24,445,263

Mission and programs · 2022

Mission

AS A MEMBER-OWNED, NOT-FOR-PROFIT SERVICE ORGANIZATION, OUR MISSION IS TO PROVIDE AFFORDABLE, RELIABLE AND SAFE ELECTRIC SERVICE TO OUR MEMBERS.

  • DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS

As filed on the 2022 return.

Listed in Part VII

  • Ronald Raypole

    PRESIDENT & CEO

    Total calculated
    $333,795
    From this org
    $225,925
    From related orgs
    $0
    Other
    $107,870
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $198,996
    Bonus
    $17,686
    Other
    $9,243
    Deferred
    $78,240
    Nontaxable benefits
    $29,630
    Filer's total
    $333,795

  • Douglas Dickmeyer

    MANAGER OF OPERATIONS

    Total calculated
    $233,125
    From this org
    $150,718
    From related orgs
    $0
    Other
    $82,407
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $141,626
    Bonus
    $7,406
    Other
    $1,686
    Deferred
    $54,664
    Nontaxable benefits
    $27,743
    Filer's total
    $233,125

  • Douglas Eggl

    LINEMAN

    Total calculated
    $166,956
    From this org
    $118,005
    From related orgs
    $0
    Other
    $48,951
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $115,306
    Bonus
    $1,549
    Other
    $1,151
    Deferred
    $25,376
    Nontaxable benefits
    $23,574
    Filer's total
    $166,956

  • Robert Coil

    LINEMAN

    Total calculated
    $159,469
    From this org
    $107,718
    From related orgs
    $0
    Other
    $51,751
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $105,707
    Bonus
    $1,462
    Other
    $549
    Deferred
    $25,895
    Nontaxable benefits
    $25,856
    Filer's total
    $159,469

  • Adam Chitwood

    MANAGER OF FINANCE/ACCOUNTING

    Total calculated
    $155,529
    From this org
    $113,218
    From related orgs
    $0
    Other
    $42,311
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $107,383
    Bonus
    $5,501
    Other
    $334
    Deferred
    $18,228
    Nontaxable benefits
    $24,083
    Filer's total
    $155,529

  • Cody Kirkpatrick

    LINEMAN

    Total calculated
    $151,139
    From this org
    $111,234
    From related orgs
    $0
    Other
    $39,905
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $109,508
    Bonus
    $1,332
    Other
    $394
    Deferred
    $16,481
    Nontaxable benefits
    $23,424
    Filer's total
    $151,139

  • Justin Fry

    LINEMAN

    Total calculated
    $138,540
    From this org
    $108,190
    From related orgs
    $0
    Other
    $30,350
    Hours/week
    45

  • Doug Burnworth

    VICE CHAIRMAN

    Total calculated
    $11,375
    From this org
    $11,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.3

  • Joe Hutsell

    DIRECTOR

    Total calculated
    $11,050
    From this org
    $11,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.6

  • William Knox

    TREASURER

    Total calculated
    $10,535
    From this org
    $10,535
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.4

  • George Bennett

    DIRECTOR

    Total calculated
    $10,005
    From this org
    $10,005
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Larry Ott

    DIRECTOR

    Total calculated
    $10,005
    From this org
    $10,005
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.9

  • Jay Wysong

    DIRECTOR

    Total calculated
    $10,005
    From this org
    $10,005
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.2

  • Richard Robertson

    CHAIRMAN

    Total calculated
    $9,900
    From this org
    $9,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Andrew Strack

    SECRETARY

    Total calculated
    $9,695
    From this org
    $9,695
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.4

  • Mark Demske

    DIRECTOR

    Total calculated
    $8,445
    From this org
    $8,445
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

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

  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
CEO EMPLOYMENT AGREEMENT HAS AN EXPENSE REIMBURSEMENT THAT "AGREES TO PAY RESONABLE AND NECESSARY TRANSPORTATION, MEALS AND LODGING EXPENSES INCURRED AS THE RESULT OF THE CEO'S SPOUSE ACCOMPANYING HIM ON BUSINESS TRIPS."
Schedule J, Part I, Line 4
CEO PARTICIPATES IN A NON-QUALIFIED 457(B) DEFERRED COMPENSATION PLAN. TOTAL CONTRIBUTIONS TO THE PLAN FOR 2022 WERE $19,500

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.

  • NOBLE TECHNOLOGIES INC

    C · INACTIVE · IN · 100% owned

Provenance

Return type
form_990
Tax year
2022
Filed
15 May 2023
IRS schema version
2022v5.0
Source object
202341359349306119

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