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Nonprofiteer
← NEWTON COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by NEWTON COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$7,626,034
Total expenses
$7,301,004
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,375,985
Investment income
$5,438
Other revenue
$244,611
Total assets, end of year
$12,512,294
Total liabilities, end of year
$4,249,288
Net assets or fund balances, end of year
$8,263,006
Program services expenses (Part IX)
$7,262,179
Management and general expenses
$38,825
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 99.5% 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 SALES

    total $7,375,985 · related or exempt $7,375,985

  • 3 · Investment income

    total $5,438 · excluded $5,438

  • 11a · Other revenue: PATRONAGE REVENUE

    total $244,611 · excluded $244,611

  • 11e · Other revenue, total

    $244,611

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $158,724 · program services $158,724

  • 7 · Other salaries and wages

    total $108,418 · program services $108,418

  • 8 · Pension plan contributions

    total $39,125 · program services $39,125

  • 11b · Fees: legal

    total $26,925 · management and general $26,925

  • 11c · Fees: accounting

    total $11,900 · management and general $11,900

  • 12 · Advertising and promotion

    total $8,084 · program services $8,084

  • 13 · Office expenses

    total $51,592 · program services $51,592

  • 20 · Interest

    total $148,384 · program services $148,384

  • 22 · Depreciation, depletion and amortization

    total $361,413 · program services $361,413

  • 24a · Other expenses: PURCHASED POWER

    total $5,316,171 · program services $5,316,171

  • 24b · Other expenses: OPERATIONS & MAINTENANC

    total $722,031 · program services $722,031

  • 24c · Other expenses: GENERAL & ADMINISTRATIV

    total $210,216 · program services $210,216

  • 24d · Other expenses: CONSUMER SERVICE

    total $137,727 · program services $137,727

  • 24e · All other expenses

    total $294 · program services $294

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $96,287 · end of year $34,092

  • 4 · Accounts receivable

    beginning of year $683,549 · end of year $705,814

  • 8 · Inventories for sale or use

    beginning of year $330,590 · end of year $308,667

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,579 · end of year $5,801

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

    $12,808,393

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

    $3,527,735

  • 10c · Land, buildings and equipment, net

    beginning of year $9,080,479 · end of year $9,280,658

  • 12 · Investments: other securities

    beginning of year $1,956,662 · end of year $2,177,262

  • 15 · Other assets

    beginning of year $17,351 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $680,574 · end of year $730,775

  • 23 · Secured mortgages and notes payable

    beginning of year $3,505,855 · end of year $3,510,873

  • 25 · Other liabilities

    beginning of year $7,575 · end of year $7,640

  • 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 $7,976,493 · end of year $8,263,006

Mission and programs · 2024

Mission

TO PROVIDE ELECTRICITY TO ITS MEMBERS/CUSTOMERS

Activities or mission (Part I)

THE SALE AND DISTRIBUTION OF ELECTRICITY

  • THE SALE AND DISTRIBUTION OF ELECTRICITY

As filed on the 2024 return.

Listed in Part VII

  • Brian C Johnson

    PRESIDENT

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.92

  • H Michael Cooley

    VICE PRESIDENT

    Total calculated
    $5,200
    From this org
    $5,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.88

  • Mark Jefvert

    SECRETARY/TREASURER

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.04

  • Brent Creek

    DIRECTOR

    Total calculated
    $7,150
    From this org
    $7,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • Rick Risley

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.77

  • Kevin J Durham

    DIRECTOR

    Total calculated
    $4,800
    From this org
    $4,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.15

  • Ronald E Summers

    DIRECTOR

    Total calculated
    $6,000
    From this org
    $6,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.92

  • Brent Welsh

    GENERAL MANAGER

    Total calculated
    $158,724
    From this org
    $121,156
    From related orgs
    $0
    Other
    $37,568
    Hours/week
    40.31

    Schedule J breakdown matched by us

    Base
    $121,156
    Bonus
    $0
    Other
    $0
    Deferred
    $25,488
    Nontaxable benefits
    $12,080
    Filer's total
    $158,724

  • Michel T Sheets

    LINE SUPERINTENDENT

    Total calculated
    $147,345
    From this org
    $114,410
    From related orgs
    $0
    Other
    $32,935
    Hours/week
    41.15

  • Troy Burton

    LINE FOREMAN

    Total calculated
    $150,379
    From this org
    $106,597
    From related orgs
    $0
    Other
    $43,782
    Hours/week
    41.88

    Schedule J breakdown matched by us

    Base
    $106,597
    Bonus
    $0
    Other
    $0
    Deferred
    $19,501
    Nontaxable benefits
    $24,281
    Filer's total
    $150,379

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 · 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

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
15 August 2025
IRS schema version
2024v5.2
Source object
202522279349300307

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