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Nonprofiteer
← RUTHERFORD ELECTRIC MEMBERSHIP

Form 990 for tax year 2023

Filed by RUTHERFORD ELECTRIC MEMBERSHIP.

Totals

Total revenue
$172,283,874
Total expenses
$172,283,874
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$171,979,565
Investment income
$252,408
Other revenue
$51,901
Total assets, end of year
$368,355,438
Total liabilities, end of year
$218,664,893
Net assets or fund balances, end of year
$149,690,545
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 $170,000,853 · related or exempt $170,000,853

  • 2b · Program service revenue: POLE RENTAL

    total $1,259,045 · excluded $1,259,045

  • 2c · Program service revenue: PATRONAGE CAPITAL

    total $719,667 · related or exempt $719,667

  • 3 · Investment income

    total $252,408 · excluded $252,408

  • 6a · Gross rents

    real property $51,901

  • 6c · Rental income or loss

    real property $51,901

  • 6d · Net rental income or loss

    total $51,901 · excluded $51,901

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $13,980,149

  • 5 · Compensation of officers, directors and key employees

    total $652,124

  • 7 · Other salaries and wages

    total $9,957,630

  • 9 · Other employee benefits

    total $3,701,279

  • 10 · Payroll taxes

    total $761,062

  • 11g · Fees: other

    total $179,115

  • 13 · Office expenses

    total $201,711

  • 14 · Information technology

    total $1,377,545

  • 20 · Interest

    total $6,155,245

  • 22 · Depreciation, depletion and amortization

    total $17,211,630

  • 23 · Insurance

    total $202,617

  • 24a · Other expenses: PURCHASED POWER

    total $98,848,368

  • 24b · Other expenses: DISTRIBUTION MAINTENANCE

    total $11,126,163

  • 24c · Other expenses: DISTRIBUTION OPERATIONS

    total $3,998,047

  • 24d · Other expenses: CUSTOMER SERVICE & INFORM

    total $1,544,910

  • 24e · All other expenses

    total $2,386,279

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,374,311 · end of year $6,766,655

  • 4 · Accounts receivable

    beginning of year $16,485,272 · end of year $17,485,723

  • 8 · Inventories for sale or use

    beginning of year $2,976,680 · end of year $3,167,221

  • 9 · Prepaid expenses and deferred charges

    beginning of year $917,089 · end of year $899,660

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

    $549,854,994

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

    $227,339,275

  • 10c · Land, buildings and equipment, net

    beginning of year $310,127,247 · end of year $322,515,719

  • 13 · Investments: program-related

    beginning of year $11,129,995 · end of year $11,687,784

  • 15 · Other assets

    beginning of year $1,214,377 · end of year $5,832,676

  • 17 · Accounts payable and accrued expenses

    beginning of year $12,378,726 · end of year $16,169,366

  • 23 · Secured mortgages and notes payable

    beginning of year $161,701,173 · end of year $181,484,402

  • 25 · Other liabilities

    beginning of year $29,178,356 · end of year $21,011,125

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

    beginning of year $662,390 · end of year $668,835

  • 31 · Retained earnings, endowment or other funds

    beginning of year $140,304,326 · end of year $149,021,710

Mission and programs · 2023

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 2023 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
    $354,961
    From this org
    $325,350
    From related orgs
    $0
    Other
    $29,611
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $324,318
    Bonus
    $1,032
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $29,611
    Filer's total
    $354,961

  • Randy C Ward

    VP-DISTRICT

    Total calculated
    $252,514
    From this org
    $223,394
    From related orgs
    $0
    Other
    $29,120
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $209,531
    Bonus
    $9,603
    Other
    $4,260
    Deferred
    not reported
    Nontaxable benefits
    $29,120
    Filer's total
    $252,514

  • Colon L Saunders

    VP-OPERATION

    Total calculated
    $246,160
    From this org
    $217,040
    From related orgs
    $0
    Other
    $29,120
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $209,163
    Bonus
    $5,321
    Other
    $2,556
    Deferred
    not reported
    Nontaxable benefits
    $29,120
    Filer's total
    $246,160

  • Jeffrey C Brittain

    VP-ENGINEERI

    Total calculated
    $237,229
    From this org
    $209,820
    From related orgs
    $0
    Other
    $27,409
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $208,587
    Bonus
    $1,233
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $27,409
    Filer's total
    $237,229

  • Thomas M Haire

    SYSTEM ENGIN

    Total calculated
    $201,540
    From this org
    $150,512
    From related orgs
    $0
    Other
    $51,028
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $146,123
    Bonus
    $1,440
    Other
    $2,949
    Deferred
    $37,887
    Nontaxable benefits
    $13,141
    Filer's total
    $201,540

  • Tommy W Chapman

    DISTRICT MAN

    Total calculated
    $178,313
    From this org
    $151,148
    From related orgs
    $0
    Other
    $27,165
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $141,496
    Bonus
    $6,703
    Other
    $2,949
    Deferred
    not reported
    Nontaxable benefits
    $27,165
    Filer's total
    $178,313

  • Joseph N Quinn

    DIRECTOR

    Total calculated
    $38,143
    From this org
    $38,143
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.01

  • J Dean Carpenter

    PRESIDENT

    Total calculated
    $36,916
    From this org
    $36,916
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.09

  • Van Samuel Boyd

    DIRECTOR

    Total calculated
    $35,517
    From this org
    $35,517
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.51

  • Amy P Torvinen

    DIRECTOR

    Total calculated
    $35,384
    From this org
    $35,384
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.63

  • Marcus Mullen

    DIRECTOR

    Total calculated
    $35,172
    From this org
    $35,172
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.81

  • Jill P Lovell

    ASST. SECRET

    Total calculated
    $34,952
    From this org
    $34,952
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.07

  • Robyn Houser

    TREASURER

    Total calculated
    $26,486
    From this org
    $26,486
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.92

  • Robby R Eurey

    SECRETARY

    Total calculated
    $21,868
    From this org
    $21,868
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.49

  • Joel Z Wakefield

    DIRECTOR

    Total calculated
    $18,933
    From this org
    $18,933
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.54

  • Timothy E Stowe

    VICE PRESIDE

    Total calculated
    $13,792
    From this org
    $13,792
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.38

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
2023
Filed
7 November 2024
IRS schema version
2023v5.0
Source object
202423139349303272

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