Skip to content
Nonprofiteer
← PIONEER RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2025

Filed by PIONEER RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$90,336,258
Total expenses
$90,336,258
Contributions and grants received
$0
Grants paid
$10,500
Program service revenue
$87,484,903
Investment income
$209,514
Other revenue
$2,641,841
Total assets, end of year
$155,171,147
Total liabilities, end of year
$59,996,565
Net assets or fund balances, end of year
$95,174,582
Program services expenses (Part IX)
$90,336,258
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$90,336,258

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: Sale of Electric Energy

    total $87,484,903 · related or exempt $87,484,903 · 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 $209,514 · related or exempt $209,514 · unrelated business $0 · excluded $0

  • 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

  • 6a · Gross rents

    real property $299,239 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $299,239 · personal property $0

  • 6d · Net rental income or loss

    total $299,239 · related or exempt $299,239 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Patronage Capital

    total $2,311,761 · related or exempt $2,311,761 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Miscellaneous Revenue

    total $6,469 · related or exempt $6,469 · unrelated business $0 · excluded $0

  • 11c · Other revenue: Gain on Disposition of Property

    total $24,372 · related or exempt $24,372 · unrelated business $0 · excluded $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $2,342,602

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $10,500 · program services $10,500

  • 4 · Benefits paid to or for members

    total $6,032,928 · program services $6,032,928

  • 5 · Compensation of officers, directors and key employees

    total $798,593 · program services $798,593 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $4,339,467 · program services $4,339,467 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $905,754 · program services $905,754 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $874,720 · program services $874,720 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $330,746 · program services $330,746 · management and general $0 · fundraising $0

  • 20 · Interest

    total $2,242,071 · program services $2,242,071 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $4,797,538 · program services $4,797,538 · management and general $0 · fundraising $0

  • 24a · Other expenses: Cost of Purchase Power

    total $61,013,868 · program services $61,013,868 · management and general $0 · fundraising $0

  • 24b · Other expenses: Operating and Maintenance Expense

    total $7,188,973 · program services $7,188,973 · management and general $0 · fundraising $0

  • 24c · Other expenses: Taxes and Other Expenses

    total $1,801,100 · program services $1,801,100 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,581,348 · end of year $7,663,792

  • 4 · Accounts receivable

    beginning of year $7,027,661 · end of year $7,184,166

  • 8 · Inventories for sale or use

    beginning of year $1,236,739 · end of year $1,110,512

  • 9 · Prepaid expenses and deferred charges

    beginning of year $205,532 · end of year $357,820

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

    $147,068,153

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

    $48,081,169

  • 10c · Land, buildings and equipment, net

    beginning of year $93,722,230 · end of year $98,986,984

  • 15 · Other assets

    beginning of year $39,302,988 · end of year $39,867,873

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,899,727 · end of year $6,391,628

  • 23 · Secured mortgages and notes payable

    beginning of year $49,646,332 · end of year $48,926,985

  • 25 · Other liabilities

    beginning of year $4,554,294 · end of year $4,677,952

  • 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 $91,976,145 · end of year $95,174,582

Mission and programs · 2025

Mission

Delivering safe and reliable electric service at the best possible value, with focus on our members and communities we serve

Activities or mission (Part I)

Electric distribution to over 17,500 members in eleven counties in rural Ohio

  • Utilities

    Expenses $90,336,258 · Revenue $90,366,258

As filed on the 2025 return.

Listed in Part VII

  • Thomas Musick

    President/CEO

    Total calculated
    $500,394
    From this org
    $336,019
    From related orgs
    $0
    Other
    $164,375
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $305,019
    Bonus
    $0
    Other
    $31,000
    Deferred
    $137,223
    Nontaxable benefits
    $30,521
    Filer's total
    $503,763

  • F Lynn Maniaci

    Director of Tech Services and Engring

    Total calculated
    $294,182
    From this org
    $191,814
    From related orgs
    $0
    Other
    $102,368
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $160,814
    Bonus
    $0
    Other
    $31,000
    Deferred
    $75,216
    Nontaxable benefits
    $29,165
    Filer's total
    $296,195

  • Susan M Knore

    Vice President/CFO

    Total calculated
    $292,499
    From this org
    $209,867
    From related orgs
    $0
    Other
    $82,632
    Hours/week
    40.59

    Schedule J breakdown matched by us

    Base
    $188,130
    Bonus
    $0
    Other
    $21,737
    Deferred
    $55,588
    Nontaxable benefits
    $29,374
    Filer's total
    $294,829

  • Steven A McClay

    Director of Operations & Safety

    Total calculated
    $291,206
    From this org
    $172,969
    From related orgs
    $0
    Other
    $118,237
    Hours/week
    45.09

    Schedule J breakdown matched by us

    Base
    $152,169
    Bonus
    $0
    Other
    $20,800
    Deferred
    $91,193
    Nontaxable benefits
    $28,977
    Filer's total
    $293,139

  • Jeff Dietz

    Manager of Engineering

    Total calculated
    $249,136
    From this org
    $177,135
    From related orgs
    $0
    Other
    $72,001
    Hours/week
    40.63

    Schedule J breakdown matched by us

    Base
    $160,562
    Bonus
    $0
    Other
    $16,573
    Deferred
    $44,957
    Nontaxable benefits
    $29,199
    Filer's total
    $251,291

  • Todd D Garrett

    Manager of Community & Gov't Relations

    Total calculated
    $245,950
    From this org
    $163,794
    From related orgs
    $0
    Other
    $82,156
    Hours/week
    42.6

    Schedule J breakdown matched by us

    Base
    $132,794
    Bonus
    $0
    Other
    $31,000
    Deferred
    $60,896
    Nontaxable benefits
    $23,129
    Filer's total
    $247,819

  • Jason Shaffer

    Manager of Information Services

    Total calculated
    $196,185
    From this org
    $149,670
    From related orgs
    $0
    Other
    $46,515
    Hours/week
    44.3

    Schedule J breakdown matched by us

    Base
    $141,731
    Bonus
    $0
    Other
    $7,938
    Deferred
    $19,363
    Nontaxable benefits
    $28,907
    Filer's total
    $197,939

  • Mark A Bailey

    Chair

    Total calculated
    $18,530
    From this org
    $18,530
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.87

  • Colleen R Eidemiller

    First Vice Chair

    Total calculated
    $16,955
    From this org
    $16,955
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.02

  • John Vulgamore

    Treasurer

    Total calculated
    $15,623
    From this org
    $15,623
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.35

  • John Goettemoeller

    Secretary

    Total calculated
    $15,330
    From this org
    $15,330
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2

  • Roger Bertke

    Second Vice Chair

    Total calculated
    $14,255
    From this org
    $14,255
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.69

  • Bill Clark

    Board Member

    Total calculated
    $13,985
    From this org
    $13,985
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.18

  • Ted Black

    Board Member

    Total calculated
    $13,850
    From this org
    $13,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.87

  • Wade Wilhelm

    Board Member

    Total calculated
    $13,445
    From this org
    $13,445
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.02

  • Robert Billings

    Board Member

    Total calculated
    $12,205
    From this org
    $12,205
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
The trustees, officers and highest compensation employees were F. Lynn Maniaci, John Vulgamore, Jeff Dietz and Steven A. McClay.

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
2025
Filed
29 May 2026
IRS schema version
2025v4.0
Source object
202641469349301189

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.