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Nonprofiteer
← WARREN COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by WARREN COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$15,578,250
Total expenses
$15,293,573
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$14,955,882
Investment income
$58,197
Other revenue
$564,171
Total assets, end of year
$36,441,431
Total liabilities, end of year
$17,463,816
Net assets or fund balances, end of year
$18,977,615
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: ELECTRICITY SALES

    total $14,935,199 · related or exempt $14,935,199

  • 2b · Program service revenue: OTHER ELECTRIC REVENUES

    total $20,683 · related or exempt $20,683

  • 3 · Investment income

    total $55,773 · excluded $55,773

  • 7a · Gross sales of assets other than inventory

    other assets $11,846

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

    other assets $9,422

  • 7c · Gain or loss

    other assets $2,424

  • 7d · Net gain or loss

    total $2,424 · excluded $2,424

  • 10b · Cost of goods sold

    $24,745

  • 10c · Net income from sales of inventory

    total -$24,745 · excluded -$24,745

  • 11a · Other revenue: PATRONAGE REVENUE

    total $588,916 · excluded $588,916

  • 11e · Other revenue, total

    $588,916

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $271,215

  • 7 · Other salaries and wages

    total $517,688

  • 9 · Other employee benefits

    total $77,468

  • 11b · Fees: legal

    total $40,828

  • 11c · Fees: accounting

    total $20,665

  • 16 · Occupancy

    total $490,719

  • 20 · Interest

    total $763,197

  • 22 · Depreciation, depletion and amortization

    total $1,334,987

  • 24a · Other expenses: PURCHASE POWER

    total $9,282,335

  • 24b · Other expenses: MAINTENANCE

    total $1,520,504

  • 24c · Other expenses: ADMINISTRATIVE

    total $910,797

  • 24d · Other expenses: SALES EXPENSE

    total $63,170

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,119,195 · end of year $1,334,642

  • 4 · Accounts receivable

    beginning of year $1,777,109 · end of year $1,558,284

  • 8 · Inventories for sale or use

    beginning of year $397,993 · end of year $395,390

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,931 · end of year $476,002

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

    $41,595,396

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

    $15,264,389

  • 10c · Land, buildings and equipment, net

    beginning of year $26,160,002 · end of year $26,331,007

  • 12 · Investments: other securities

    beginning of year $5,841,358 · end of year $6,346,106

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,188,217 · end of year $1,413,484

  • 23 · Secured mortgages and notes payable

    beginning of year $15,022,726 · end of year $16,050,332

  • 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 $19,108,645 · end of year $18,977,615

Mission and programs · 2024

Mission

TO DISTRIBUTE ELECTRICITY TO ITS MEMBERS

Activities or mission (Part I)

DISTRIBUTION OF ELECTRICITY TO ITS MEMBERS

  • TO PROVIDE ELECTRICITY TO ITS MEMBERS.

As filed on the 2024 return.

Listed in Part VII

  • Don E McKinnins

    PRESIDENT

    Total calculated
    $1,350
    From this org
    $1,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.58

  • Jeffery W Clem

    VICE PRESIDENT

    Total calculated
    $16,575
    From this org
    $1,350
    From related orgs
    $0
    Other
    $15,225
    Hours/week
    5.17

  • Rich Potter

    SECRETARY

    Total calculated
    $16,425
    From this org
    $1,200
    From related orgs
    $0
    Other
    $15,225
    Hours/week
    2.33

  • Allen Buchanan

    ASSISTANT SECRETARY

    Total calculated
    $16,425
    From this org
    $1,200
    From related orgs
    $0
    Other
    $15,225
    Hours/week
    2.44

  • Dwain Akers

    DIRECTOR

    Total calculated
    $16,575
    From this org
    $1,350
    From related orgs
    $0
    Other
    $15,225
    Hours/week
    2.48

  • Ashley Bice

    DIRECTOR

    Total calculated
    $10,080
    From this org
    $1,050
    From related orgs
    $0
    Other
    $9,030
    Hours/week
    1.4

  • David L Lawlyes

    DIRECTOR

    Total calculated
    $11,986
    From this org
    $1,050
    From related orgs
    $0
    Other
    $10,936
    Hours/week
    1.15

  • Troy T Leak

    DIRECTOR

    Total calculated
    $14,355
    From this org
    $1,050
    From related orgs
    $0
    Other
    $13,305
    Hours/week
    2.17

  • C Charlie Dunn

    CEO

    Total calculated
    $271,215
    From this org
    $206,967
    From related orgs
    $0
    Other
    $64,248
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $206,967
    Bonus
    $0
    Other
    $0
    Deferred
    $2,970
    Nontaxable benefits
    $61,278
    Filer's total
    $271,215

  • Cory Reynolds

    ENG & OPERATIONS MANAGER

    Total calculated
    $177,784
    From this org
    $134,823
    From related orgs
    $0
    Other
    $42,961
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $134,823
    Bonus
    $0
    Other
    $0
    Deferred
    $2,640
    Nontaxable benefits
    $40,321
    Filer's total
    $177,784

  • Chandler Rowe

    JOURNEYMAN LINEMAN

    Total calculated
    $162,068
    From this org
    $123,370
    From related orgs
    $0
    Other
    $38,698
    Hours/week
    45.28

    Schedule J breakdown matched by us

    Base
    $123,370
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $38,698
    Filer's total
    $162,068

  • Vance Stwalley

    LINE FOREMAN

    Total calculated
    $173,802
    From this org
    $122,746
    From related orgs
    $0
    Other
    $51,056
    Hours/week
    43.05

    Schedule J breakdown matched by us

    Base
    $122,746
    Bonus
    $0
    Other
    $0
    Deferred
    $2,156
    Nontaxable benefits
    $48,900
    Filer's total
    $173,802

  • Kayle Hutson

    JOURNEYMAN LINEMAN

    Total calculated
    $170,033
    From this org
    $120,057
    From related orgs
    $0
    Other
    $49,976
    Hours/week
    43.73

    Schedule J breakdown matched by us

    Base
    $120,057
    Bonus
    $0
    Other
    $0
    Deferred
    $2,053
    Nontaxable benefits
    $47,923
    Filer's total
    $170,033

  • Chad Burton

    JOURNEYMAN LINEMAN

    Total calculated
    $162,067
    From this org
    $112,454
    From related orgs
    $0
    Other
    $49,613
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $112,454
    Bonus
    $0
    Other
    $0
    Deferred
    $2,053
    Nontaxable benefits
    $47,560
    Filer's total
    $162,067

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 · Travel for companions
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
TRAVEL FOR COMPANIONS IS ALLOWED FOR DIRECTORS TO COMPANY SPONSORED CONVENTIONS, SUCH AS THE NRECA NATIONAL CONVENTION. DIRECTOR EXPENSE ALLOTMENT FOR MEETINGS ARE APPROVED BY BOARD DIRECTORS.

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
12 August 2025
IRS schema version
2024v5.2
Source object
202512249349301001

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