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Nonprofiteer
← HANCOCK RURAL TELEPHONE CORPORATION

Form 990 for tax year 2024

Filed by HANCOCK RURAL TELEPHONE CORPORATION.

Totals

Total revenue
$67,076,687
Total expenses
$62,788,915
Contributions and grants received
$0
Grants paid
$24,000
Program service revenue
$63,971,360
Investment income
$1,519,954
Other revenue
$1,585,373
Total assets, end of year
$276,204,374
Total liabilities, end of year
$71,778,857
Net assets or fund balances, end of year
$204,425,517
Program services expenses (Part IX)
$62,788,915
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$62,788,915

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: ELECTRIC SERVICES

    total $50,895,934 · related or exempt $50,895,934

  • 2b · Program service revenue: TELECOMMUNICATIONS SERVICES

    total $11,618,719 · related or exempt $11,618,719

  • 2c · Program service revenue: WATER REVENUE

    total $1,300,541 · related or exempt $1,300,541

  • 2d · Program service revenue: SEWER REVENUE

    total $156,166 · related or exempt $156,166

  • 3 · Investment income

    total $1,164,414 · excluded $1,164,414

  • 6a · Gross rents

    personal property $658,848

  • 6b · Less rental expenses

    personal property $646,957

  • 6c · Rental income or loss

    personal property $11,891

  • 6d · Net rental income or loss

    total $11,891 · unrelated business $11,891

  • 7a · Gross sales of assets other than inventory

    securities $4,154,594

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

    securities $3,799,054

  • 7c · Gain or loss

    securities $355,540

  • 7d · Net gain or loss

    total $355,540 · related or exempt $355,540

  • 11a · Other revenue: G&T ALLOCATED MARGINS

    total $1,519,607 · related or exempt $1,519,607

  • 11b · Other revenue: POLE CONTACT RENTALS

    total $47,830 · excluded $47,830

  • 11c · Other revenue: ADVERTISING

    total $6,045 · unrelated business $6,045

  • 11e · Other revenue, total

    $1,573,482

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $24,000 · program services $24,000

  • 4 · Benefits paid to or for members

    total $1,651,887 · program services $1,651,887

  • 5 · Compensation of officers, directors and key employees

    total $2,349,876 · program services $2,349,876

  • 20 · Interest

    total $2,099,732 · program services $2,099,732

  • 22 · Depreciation, depletion and amortization

    total $8,322,142 · program services $8,322,142

  • 24a · Other expenses: PURCHASED POWER

    total $31,090,785 · program services $31,090,785

  • 24b · Other expenses: ELECTRIC OPERATIONS AND

    total $5,532,821 · program services $5,532,821

  • 24c · Other expenses: CORPORATE OPERATIONS

    total $3,568,319 · program services $3,568,319

  • 24d · Other expenses: PLANT SPECIFIC

    total $2,839,446 · program services $2,839,446

  • 24e · All other expenses

    total $5,309,907 · program services $5,309,907

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $11,158,553 · end of year $5,185,077

  • 2 · Savings and temporary cash investments

    beginning of year $1,820,879 · end of year $4,305,725

  • 4 · Accounts receivable

    beginning of year $6,947,345 · end of year $7,447,997

  • 9 · Prepaid expenses and deferred charges

    beginning of year $289,409 · end of year $356,224

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

    $202,408,114

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

    $88,682,956

  • 10c · Land, buildings and equipment, net

    beginning of year $98,332,042 · end of year $113,725,158

  • 12 · Investments: other securities

    beginning of year $126,752,213 · end of year $135,120,490

  • 15 · Other assets

    beginning of year $11,301,697 · end of year $10,063,703

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,479,508 · end of year $17,869,108

  • 19 · Deferred revenue

    beginning of year $6,000,000 · end of year $3,904,785

  • 23 · Secured mortgages and notes payable

    beginning of year $42,142,177 · end of year $48,209,211

  • 25 · Other liabilities

    beginning of year $2,161,285 · end of year $1,795,753

  • 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 $193,819,168 · end of year $204,425,517

Mission and programs · 2024

Mission

PROVIDE VARIOUS ELECTRIC, TELECOMMUNICATIONS, WATER, AND SEWER PRODUCTS AND SERVICES TO COOPERATIVE CUSTOMERS IN A 8-COUNTY AREA OF EAST CENTRAL INDIANA.

Activities or mission (Part I)

PROVIDING SUPERIOR ELECTRIC AND VARIOUS TELECOMMUNICATION PRODUCTS AND SERVICES TO OUR CUSTOMERS.

  • PROVIDES ELECTRIC, TELECOMMUNICATIONS, WATER AND SEWER PRODUCTS AND SERVICES TO COOPERATIVE CUSTOMERS IN A 8-COUNTY AREA OF EAST CENTRAL INDIANA. AS OF DECEMBER 31, 2024, THE NUMBER OF ELECTRIC SERVICES TOTALED 19,338, 11,866 BROADBAND CUSTOMERS, 1,283 WATER CUSTOMERS AND 139 SEWER UTILITY CUSTOMERS.

    Expenses $62,788,915 · Grants $24,000

As filed on the 2024 return.

Listed in Part VII

  • Raymond Kerkhof

    CHAIRMAN

    Total calculated
    $21,300
    From this org
    $21,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Stephen Vail

    DIRECTOR

    Total calculated
    $5,925
    From this org
    $5,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Charles Kennedy

    VICE CHAIRMAN

    Total calculated
    $18,650
    From this org
    $18,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Jan Cochard

    DIRECTOR

    Total calculated
    $14,775
    From this org
    $14,775
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Mark Evans

    SECRETARY/TREASURER

    Total calculated
    $18,050
    From this org
    $18,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jack Negley

    DIRECTOR

    Total calculated
    $17,700
    From this org
    $17,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Philip Hayes

    DIRECTOR

    Total calculated
    $18,200
    From this org
    $18,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Susan Bodkin

    DIRECTOR

    Total calculated
    $17,700
    From this org
    $17,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Thomas Ording

    DIRECTOR

    Total calculated
    $17,700
    From this org
    $17,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Joseph Paxton

    DIRECTOR

    Total calculated
    $17,700
    From this org
    $17,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Scott Pittman

    DIRECTOR

    Total calculated
    $17,700
    From this org
    $17,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Robin Richey

    DIRECTOR

    Total calculated
    $17,700
    From this org
    $17,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Timothy Bryant

    DIRECTOR

    Total calculated
    $17,700
    From this org
    $17,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Darrell Thomas

    DIRECTOR EMERTITUS

    Total calculated
    $5,850
    From this org
    $5,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Richard Griffin

    DIRECTOR

    Total calculated
    $17,700
    From this org
    $17,700
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Mike Burrow

    PRESIDENT & CEO

    Total calculated
    $510,503
    From this org
    $387,421
    From related orgs
    $0
    Other
    $123,082
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $328,000
    Bonus
    $40,000
    Other
    $19,421
    Deferred
    $123,082
    Nontaxable benefits
    $0
    Filer's total
    $510,503

  • Scott Hiatt

    SENIOR VICE PRESIDENT

    Total calculated
    $332,821
    From this org
    $244,907
    From related orgs
    $0
    Other
    $87,914
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $223,550
    Bonus
    $16,700
    Other
    $4,657
    Deferred
    $87,914
    Nontaxable benefits
    $0
    Filer's total
    $332,821

  • Regina Bever

    VP OF ADMINISTRATION

    Total calculated
    $247,830
    From this org
    $188,527
    From related orgs
    $0
    Other
    $59,303
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $166,934
    Bonus
    $10,750
    Other
    $10,843
    Deferred
    $59,303
    Nontaxable benefits
    $0
    Filer's total
    $247,830

  • George Plisinski

    VP OF ENGINEERING

    Total calculated
    $224,283
    From this org
    $0
    From related orgs
    $172,904
    Other
    $51,379
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $0 + $151,525 related
    Bonus
    $0 + $11,100 related
    Other
    $0 + $10,279 related
    Deferred
    $51,379
    Nontaxable benefits
    $0
    Filer's total
    $51,379 + $172,904 related

  • Ross Ferson

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $267,910
    From this org
    $198,801
    From related orgs
    $0
    Other
    $69,109
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $182,335
    Bonus
    $12,000
    Other
    $4,466
    Deferred
    $69,109
    Nontaxable benefits
    $0
    Filer's total
    $267,910

  • Sara Pechin

    VP OF HUMAN RESOURCES

    Total calculated
    $227,331
    From this org
    $0
    From related orgs
    $191,431
    Other
    $35,900
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $0 + $168,480 related
    Bonus
    $0 + $12,250 related
    Other
    $0 + $10,701 related
    Deferred
    $35,900
    Nontaxable benefits
    $0
    Filer's total
    $35,900 + $191,431 related

  • Thomas Nance

    VP OF OPERATIONS

    Total calculated
    $224,379
    From this org
    $165,908
    From related orgs
    $0
    Other
    $58,471
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $151,525
    Bonus
    $10,500
    Other
    $3,883
    Deferred
    $58,471
    Nontaxable benefits
    $0
    Filer's total
    $224,379

  • Bradley Rennier

    VP OF FINANCE

    Total calculated
    $70,469
    From this org
    $0
    From related orgs
    $61,449
    Other
    $9,020
    Hours/week
    47

  • Julie Lynch

    DIRECTOR OF SALES

    Total calculated
    $240,627
    From this org
    $0
    From related orgs
    $197,230
    Other
    $43,397
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $0 + $117,890 related
    Bonus
    $0 + $6,200 related
    Other
    $0 + $73,140 related
    Deferred
    $43,397
    Nontaxable benefits
    $0
    Filer's total
    $43,397 + $197,230 related

  • Bryan Giddings

    LEAD LINEMAN

    Total calculated
    $205,472
    From this org
    $165,131
    From related orgs
    $0
    Other
    $40,341
    Hours/week
    51

    Schedule J breakdown matched by us

    Base
    $130,000
    Bonus
    $6,900
    Other
    $28,231
    Deferred
    $40,341
    Nontaxable benefits
    $0
    Filer's total
    $205,472

  • Shira Danker

    DIRECTOR OF SECURITY SERVICES

    Total calculated
    $194,211
    From this org
    $0
    From related orgs
    $146,602
    Other
    $47,609
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $0 + $100,818 related
    Bonus
    $0 + $2,100 related
    Other
    $0 + $43,684 related
    Deferred
    $47,609
    Nontaxable benefits
    $0
    Filer's total
    $47,609 + $146,602 related

  • Kory Chapman

    LEAD LINEMAN

    Total calculated
    $197,979
    From this org
    $145,090
    From related orgs
    $0
    Other
    $52,889
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $100,818
    Bonus
    $2,100
    Other
    $42,172
    Deferred
    $52,889
    Nontaxable benefits
    $0
    Filer's total
    $197,979

  • Austin Gearlds

    LEAD LINEMAN

    Total calculated
    $180,972
    From this org
    $144,057
    From related orgs
    $0
    Other
    $36,915
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $106,038
    Bonus
    $2,100
    Other
    $35,919
    Deferred
    $36,915
    Nontaxable benefits
    $0
    Filer's total
    $180,972

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 · Independent compensation consultant
  • 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.

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.

  • RHSC LLC

    REAL ESTATE · IN

    Directly controlled by CENTRAL INDIANA COMMUNICATIONS INC

  • ARGOS RADAR SOLUTIONS LLC

    IT SERVICES · IN

    Directly controlled by CENTRAL INDIANA COMMUNICATIONS INC

Related partnerships

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

  • JOHNSON COUNTY FIBER NETWORK LLC

    RELATED · TELECOMMUNICATION SERVICES · IN · share of income $235,103 · share of assets $972,124

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • CENTRAL INDIANA COMMUNICATIONS INC

    C · TELECOMMUNICATION SERVICES · IN · share of income $26,527,935 · share of assets $114,022,449

  • CENTRAL INDIANA UTILITIES INC

    C · PAYROLL SERVICES · IN · share of income $681 · share of assets $35,215

  • CENTRAL INDIANA POWER INC

    C · ELECTRIC SERVICES · IN · share of income $113,173 · share of assets $572,074

Provenance

Return type
form_990
Tax year
2024
Filed
28 October 2025
IRS schema version
2024v5.2
Source object
202543029349301354

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