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Nonprofiteer
← RUTHERFORD ELECTRIC MEMBERSHIP

Form 990 for tax year 2024

Filed by RUTHERFORD ELECTRIC MEMBERSHIP.

Totals

Total revenue
$167,749,291
Total expenses
$167,749,291
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$167,320,504
Investment income
$380,981
Other revenue
$47,806
Total assets, end of year
$389,353,716
Total liabilities, end of year
$233,883,324
Net assets or fund balances, end of year
$155,470,392
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: ELECTRIC REVENUE

    total $165,625,059 · related or exempt $165,625,059

  • 2b · Program service revenue: POLE RENTAL

    total $1,258,783 · excluded $1,258,783

  • 2c · Program service revenue: PATRONAGE CAPITAL

    total $436,662 · related or exempt $436,662

  • 3 · Investment income

    total $380,981 · excluded $380,981

  • 6a · Gross rents

    real property $40,606

  • 6b · Less rental expenses

    real property $40,606

  • 11a · Other revenue: OTHER REVENUE

    total $40,606 · related or exempt $40,606

  • 11b · Other revenue: MISC. REVENUE

    total $7,200 · related or exempt $7,200

  • 11e · Other revenue, total

    $47,806

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $12,423,761

  • 5 · Compensation of officers, directors and key employees

    total $696,471

  • 7 · Other salaries and wages

    total $12,129,406

  • 9 · Other employee benefits

    total $4,226,505

  • 10 · Payroll taxes

    total $889,793

  • 11g · Fees: other

    total $194,385

  • 13 · Office expenses

    total $224,682

  • 14 · Information technology

    total $1,422,177

  • 20 · Interest

    total $6,632,569

  • 22 · Depreciation, depletion and amortization

    total $17,104,723

  • 23 · Insurance

    total $216,094

  • 24a · Other expenses: PURCHASED POWER

    total $92,089,815

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $11,450,320

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $3,707,867

  • 24d · Other expenses: CUSTOMER SERVICE & INFORM

    total $1,903,745

  • 24e · All other expenses

    total $2,436,978

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $6,766,655 · end of year $3,857,667

  • 4 · Accounts receivable

    beginning of year $17,485,723 · end of year $17,836,559

  • 8 · Inventories for sale or use

    beginning of year $3,167,221 · end of year $3,123,795

  • 9 · Prepaid expenses and deferred charges

    beginning of year $899,660 · end of year $912,469

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

    $572,617,927

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

    $238,901,398

  • 10c · Land, buildings and equipment, net

    beginning of year $322,515,719 · end of year $333,716,529

  • 13 · Investments: program-related

    beginning of year $11,687,784 · end of year $11,903,772

  • 15 · Other assets

    beginning of year $5,832,676 · end of year $18,002,925

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,169,366 · end of year $14,363,622

  • 23 · Secured mortgages and notes payable

    beginning of year $181,484,402 · end of year $193,516,821

  • 25 · Other liabilities

    beginning of year $21,011,125 · end of year $26,002,881

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

    beginning of year $668,835 · end of year $671,530

  • 31 · Retained earnings, endowment or other funds

    beginning of year $149,021,710 · end of year $154,798,862

Mission and programs · 2024

Mission

TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • TO PROVIDE THE BEST POSSIBLE ELECTRIC SERVICE TO ALL WHO DESIRE IT WITHIN THE SYSTEM AREA AT A REASONABLE COST CONSISTENT WITH THE HIGHEST STANDARDS OF SERVICE.

  • N/A

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • S Dirk Burleson

    GENERAL MANA

    Total calculated
    $386,937
    From this org
    $355,539
    From related orgs
    $0
    Other
    $31,398
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $347,467
    Bonus
    $1,074
    Other
    $6,998
    Deferred
    not reported
    Nontaxable benefits
    $31,398
    Filer's total
    $386,937

  • Colon L Saunders

    VP-OPERATION

    Total calculated
    $278,197
    From this org
    $247,925
    From related orgs
    $0
    Other
    $30,272
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $238,475
    Bonus
    $5,041
    Other
    $4,409
    Deferred
    not reported
    Nontaxable benefits
    $30,272
    Filer's total
    $278,197

  • Jeffrey C Brittain

    VP-ENGINEERI

    Total calculated
    $246,545
    From this org
    $218,124
    From related orgs
    $0
    Other
    $28,421
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $217,556
    Bonus
    $568
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $28,421
    Filer's total
    $246,545

  • Brad Bridges

    DIRECTOR-DIS

    Total calculated
    $241,372
    From this org
    $174,061
    From related orgs
    $0
    Other
    $67,311
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $169,949
    Bonus
    $827
    Other
    $3,285
    Deferred
    $39,223
    Nontaxable benefits
    $28,088
    Filer's total
    $241,372

  • Randy C Ward

    VP-DISTRICT

    Total calculated
    $205,239
    From this org
    $192,595
    From related orgs
    $0
    Other
    $12,644
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $78,896
    Bonus
    $3,669
    Other
    $110,030
    Deferred
    not reported
    Nontaxable benefits
    $12,644
    Filer's total
    $205,239

  • Tommy W Chapman

    VP-MEMBER &

    Total calculated
    $182,049
    From this org
    $153,839
    From related orgs
    $0
    Other
    $28,210
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $143,248
    Bonus
    $7,019
    Other
    $3,572
    Deferred
    not reported
    Nontaxable benefits
    $28,210
    Filer's total
    $182,049

  • J Dean Carpenter

    PRESIDENT

    Total calculated
    $37,312
    From this org
    $37,312
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.24

  • Joseph N Quinn

    DIRECTOR

    Total calculated
    $37,273
    From this org
    $37,273
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.25

  • Marcus Mullen

    DIRECTOR

    Total calculated
    $36,245
    From this org
    $36,245
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.13

  • Jill P Lovell

    ASST. SECRET

    Total calculated
    $36,077
    From this org
    $36,077
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.24

  • Van Samuel Boyd

    DIRECTOR

    Total calculated
    $35,700
    From this org
    $35,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.52

  • Amy P Torvinen

    DIRECTOR

    Total calculated
    $35,451
    From this org
    $35,451
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.45

  • Robyn Houser

    TREASURER

    Total calculated
    $34,576
    From this org
    $34,576
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.54

  • Robby R Eurey

    SECRETARY

    Total calculated
    $21,969
    From this org
    $21,969
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.71

  • Joel Z Wakefield

    DIRECTOR

    Total calculated
    $20,764
    From this org
    $20,764
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.38

  • Timothy E Stowe

    VICE PRESIDE

    Total calculated
    $14,167
    From this org
    $14,167
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.65

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 committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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
24 October 2025
IRS schema version
2024v5.0
Source object
202533029349301998

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