Skip to content
Nonprofiteer
← BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$63,135,395
Total expenses
$58,558,112
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$62,007,017
Investment income
-$3,302
Other revenue
$1,131,680
Total assets, end of year
$159,678,788
Total liabilities, end of year
$98,225,048
Net assets or fund balances, end of year
$61,453,740
Program services expenses (Part IX)
$58,558,112
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$58,558,112

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: PROG.SERV.REVENUE-RELATED-990

    total $62,007,017 · related or exempt $62,007,017

  • 3 · Investment income

    total $70,641 · excluded $70,641

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

    other assets $73,943

  • 7c · Gain or loss

    other assets -$73,943

  • 7d · Net gain or loss

    total -$73,943 · excluded -$73,943

  • 10a · Gross sales of inventory

    $26,817

  • 10b · Cost of goods sold

    $27,077

  • 10c · Net income from sales of inventory

    total -$260 · related or exempt -$260

  • 11a · Other revenue: PATRONAGE REVENUE

    total $1,131,940 · related or exempt $1,131,940

  • 11e · Other revenue, total

    $1,131,940

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,318,423 · program services $1,318,423

  • 7 · Other salaries and wages

    total $1,530,580 · program services $1,530,580

  • 11b · Fees: legal

    total $21,351 · program services $21,351

  • 11c · Fees: accounting

    total $16,750 · program services $16,750

  • 20 · Interest

    total $2,820,265 · program services $2,820,265

  • 22 · Depreciation, depletion and amortization

    total $4,756,932 · program services $4,756,932

  • 24a · Other expenses: PURCHASED POWER

    total $39,596,852 · program services $39,596,852

  • 24b · Other expenses: GENERAL & ADMINISTRATIV

    total $4,055,118 · program services $4,055,118

  • 24c · Other expenses: OPERATION AND MAINTENAN

    total $3,489,642 · program services $3,489,642

  • 24d · Other expenses: TAXES

    total $952,199 · program services $952,199

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,030,698 · end of year $3,943,349

  • 2 · Savings and temporary cash investments

    beginning of year $1,250,628 · end of year $11,730,904

  • 4 · Accounts receivable

    beginning of year $3,330,637 · end of year $4,597,825

  • 8 · Inventories for sale or use

    beginning of year $2,548,285 · end of year $3,449,015

  • 9 · Prepaid expenses and deferred charges

    beginning of year $127,218 · end of year $188,261

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

    $145,364,138

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

    $30,396,217

  • 10c · Land, buildings and equipment, net

    beginning of year $105,310,925 · end of year $114,967,921

  • 13 · Investments: program-related

    beginning of year $15,225,777 · end of year $15,995,098

  • 15 · Other assets

    beginning of year $3,960,278 · end of year $4,806,415

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,228,040 · end of year $7,462,732

  • 23 · Secured mortgages and notes payable

    beginning of year $51,470,741 · end of year $79,065,392

  • 24 · Unsecured notes and loans payable

    beginning of year $6,650,000 · end of year $0

  • 25 · Other liabilities

    beginning of year $11,358,432 · end of year $11,696,924

  • 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 $57,077,233 · end of year $61,453,740

Mission and programs · 2022

Mission

PROVIDING OUR MEMBERS ENERGY-RELATED SERVICES IN A SAFE, DEPENDABLE, AND REASONABLY PRICED MANNER.

  • DISTRIBUTION OF ELECTRICITY

    Expenses $58,558,112 · Revenue $62,007,017

As filed on the 2022 return.

Listed in Part VII

  • Noel Kendall

    CHAIRMAN

    Total calculated
    $24,560
    From this org
    $24,560
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.77

  • Thomas Dull

    VICE-CHAIRMAN

    Total calculated
    $15,360
    From this org
    $15,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.44

  • Danny Lawson

    DIRECTOR

    Total calculated
    $14,510
    From this org
    $14,510
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.03

  • Alan Cragun

    DIRECTOR

    Total calculated
    $16,560
    From this org
    $16,560
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.48

  • Mark Gruninger

    SECRETARY/TREASESURER

    Total calculated
    $19,560
    From this org
    $19,560
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.57

  • Bruce Guernsey

    DIRECTOR

    Total calculated
    $15,360
    From this org
    $15,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.78

  • Mark Starkey

    DIRECTOR

    Total calculated
    $13,560
    From this org
    $13,560
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.66

  • Jon Stevens

    DIRECTOR

    Total calculated
    $18,960
    From this org
    $18,960
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.69

  • G Tom Taylor

    DIRECTOR

    Total calculated
    $15,360
    From this org
    $15,360
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.33

  • William Conley

    CEO/PRESIDENT

    Total calculated
    $472,473
    From this org
    $303,417
    From related orgs
    $0
    Other
    $169,056
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $303,417
    Bonus
    $0
    Other
    $0
    Deferred
    $129,141
    Nontaxable benefits
    $39,915
    Filer's total
    $472,473

  • Benjamin Duke

    ACTING CFO/VP OF CORPORATE SERVICES

    Total calculated
    $198,052
    From this org
    $150,064
    From related orgs
    $0
    Other
    $47,988
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,064
    Bonus
    $0
    Other
    $0
    Deferred
    $19,623
    Nontaxable benefits
    $28,365
    Filer's total
    $198,052

  • Corey Willis

    VP OF CORPORATE DEVELOPMENT & TECHNOLOGY

    Total calculated
    $235,254
    From this org
    $160,408
    From related orgs
    $0
    Other
    $74,846
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,408
    Bonus
    $0
    Other
    $0
    Deferred
    $45,031
    Nontaxable benefits
    $29,815
    Filer's total
    $235,254

  • Jeffrey Dickerson

    VP OF OPERATIONS

    Total calculated
    $265,989
    From this org
    $159,373
    From related orgs
    $0
    Other
    $106,616
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $159,373
    Bonus
    $0
    Other
    $0
    Deferred
    $83,997
    Nontaxable benefits
    $22,619
    Filer's total
    $265,989

  • Allen Jones

    VP OF ENGINEERING SERVICES

    Total calculated
    $259,162
    From this org
    $150,766
    From related orgs
    $0
    Other
    $108,396
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,766
    Bonus
    $0
    Other
    $0
    Deferred
    $79,479
    Nontaxable benefits
    $28,917
    Filer's total
    $259,162

  • Pam Warmoth

    EXECUTIVE ASSISTANT & HR COORDINATOR

    Total calculated
    $215,801
    From this org
    $121,793
    From related orgs
    $0
    Other
    $94,008
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $121,793
    Bonus
    $0
    Other
    $0
    Deferred
    $67,132
    Nontaxable benefits
    $26,876
    Filer's total
    $215,801

  • Robert Hawkins

    LINE SUPERINTENDENT

    Total calculated
    $183,900
    From this org
    $118,812
    From related orgs
    $0
    Other
    $65,088
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $118,812
    Bonus
    $0
    Other
    $0
    Deferred
    $38,068
    Nontaxable benefits
    $27,020
    Filer's total
    $183,900

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

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.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • BOONE REMC COMMUNITY FUND INC

    EXEMPT ACTIVITIES · IN

    Directly controlled by BOONE REMC

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • BOONE COOPERATIVE ADVANTAGE

    NON-EXEMPT ACTIVITIES · IN · income $0 · assets $20,666

    Directly controlled by BOONE REMC

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • CIRCLE CITY GROUP

    RELATED · SHARED SERVICES · IN · 30% owned · share of assets $4,958

    Directly controlled by EQUAL

Provenance

Return type
form_990
Tax year
2022
Filed
20 September 2023
IRS schema version
2022v5.0
Source object
202312829349300646

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.