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Nonprofiteer
← PIONEER RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by PIONEER RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$83,454,628
Total expenses
$83,454,628
Contributions and grants received
$0
Grants paid
$8,000
Program service revenue
$81,357,517
Investment income
$223,022
Other revenue
$1,874,089
Total assets, end of year
$152,076,498
Total liabilities, end of year
$60,100,353
Net assets or fund balances, end of year
$91,976,145
Program services expenses (Part IX)
$83,454,628
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$83,454,628

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: Sale of Electric Energy

    total $81,357,517 · related or exempt $81,357,517 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $223,022 · related or exempt $223,022 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $276,792 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $276,792 · personal property $0

  • 6d · Net rental income or loss

    total $276,792 · related or exempt $276,792 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Patronage Capital

    total $1,587,661 · related or exempt $1,587,661 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Miscellaneous Revenue

    total $9,636 · related or exempt $9,636 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $1,597,297

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $8,000 · program services $8,000

  • 4 · Benefits paid to or for members

    total $6,262,663 · program services $6,262,663

  • 5 · Compensation of officers, directors and key employees

    total $839,724 · program services $839,724 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $3,936,813 · program services $3,936,813 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $721,678 · program services $721,678 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $746,414 · program services $746,414 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $308,727 · program services $308,727 · management and general $0 · fundraising $0

  • 20 · Interest

    total $2,271,902 · program services $2,271,902 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $4,462,863 · program services $4,462,863 · management and general $0 · fundraising $0

  • 24a · Other expenses: Cost of Purchase Power

    total $55,500,201 · program services $55,500,201 · management and general $0 · fundraising $0

  • 24b · Other expenses: Operating and Maintenance Expense

    total $6,575,783 · program services $6,575,783 · management and general $0 · fundraising $0

  • 24c · Other expenses: Taxes and Other Expenses

    total $1,731,785 · program services $1,731,785 · management and general $0 · fundraising $0

  • 24d · Other expenses: Loss on Disposition of Property

    total $88,075 · program services $88,075 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,874,152 · end of year $10,581,348

  • 4 · Accounts receivable

    beginning of year $6,418,407 · end of year $7,027,661

  • 8 · Inventories for sale or use

    beginning of year $1,199,804 · end of year $1,236,739

  • 9 · Prepaid expenses and deferred charges

    beginning of year $356,724 · end of year $205,532

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

    $141,856,429

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

    $48,134,199

  • 10c · Land, buildings and equipment, net

    beginning of year $89,718,191 · end of year $93,722,230

  • 15 · Other assets

    beginning of year $39,773,697 · end of year $39,302,988

  • 17 · Accounts payable and accrued expenses

    beginning of year $5,333,112 · end of year $5,899,727

  • 23 · Secured mortgages and notes payable

    beginning of year $49,245,384 · end of year $49,646,332

  • 25 · Other liabilities

    beginning of year $4,311,999 · end of year $4,554,294

  • 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 $88,450,480 · end of year $91,976,145

Mission and programs · 2024

Mission

Committed to exceeding the energy needs and expectations of our consumer-members by providing safe, high quality and responsive service at fair prices.

Activities or mission (Part I)

Electric distribution to over 17,350 members in eleven counties in rural Ohio

  • Utilities

    Expenses $83,454,628 · Revenue $83,454,628

As filed on the 2024 return.

Listed in Part VII

  • Ronald P Salyer

    President/CEO

    Total calculated
    $338,016
    From this org
    $223,503
    From related orgs
    $0
    Other
    $114,513
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $216,802
    Bonus
    $0
    Other
    $6,701
    Deferred
    $94,455
    Nontaxable benefits
    $22,294
    Filer's total
    $340,252

  • Susan M Knore

    Vice President/CFO

    Total calculated
    $268,544
    From this org
    $199,230
    From related orgs
    $0
    Other
    $69,314
    Hours/week
    40.5

    Schedule J breakdown matched by us

    Base
    $178,614
    Bonus
    $0
    Other
    $20,616
    Deferred
    $44,267
    Nontaxable benefits
    $27,169
    Filer's total
    $270,666

  • F Lynn Maniaci

    Director of Tech Services and Engring

    Total calculated
    $267,828
    From this org
    $180,380
    From related orgs
    $0
    Other
    $87,448
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $149,881
    Bonus
    $0
    Other
    $30,500
    Deferred
    $62,400
    Nontaxable benefits
    $26,982
    Filer's total
    $269,763

  • Steven A McClay

    Director of Operations & Safety

    Total calculated
    $257,948
    From this org
    $161,073
    From related orgs
    $0
    Other
    $96,875
    Hours/week
    45.5

    Schedule J breakdown matched by us

    Base
    $140,273
    Bonus
    $0
    Other
    $20,800
    Deferred
    $71,828
    Nontaxable benefits
    $26,809
    Filer's total
    $259,710

  • Jeff Dietz

    Manager of Engineering

    Total calculated
    $234,120
    From this org
    $174,298
    From related orgs
    $0
    Other
    $59,822
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $157,456
    Bonus
    $0
    Other
    $16,842
    Deferred
    $34,666
    Nontaxable benefits
    $26,962
    Filer's total
    $235,926

  • Thomas Musick

    President/CEO

    Total calculated
    $227,734
    From this org
    $109,396
    From related orgs
    $0
    Other
    $118,338
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $102,727
    Bonus
    $0
    Other
    $6,669
    Deferred
    $109,929
    Nontaxable benefits
    $9,482
    Filer's total
    $228,807

  • Todd D Garrett

    Manager of Community & Gov't Relations

    Total calculated
    $220,828
    From this org
    $154,553
    From related orgs
    $0
    Other
    $66,275
    Hours/week
    42.5

    Schedule J breakdown matched by us

    Base
    $124,053
    Bonus
    $0
    Other
    $30,500
    Deferred
    $46,451
    Nontaxable benefits
    $21,502
    Filer's total
    $222,506

  • Randy Carnahan

    Leader Lineman

    Total calculated
    $176,041
    From this org
    $135,378
    From related orgs
    $0
    Other
    $40,663
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $121,284
    Bonus
    $0
    Other
    $14,094
    Deferred
    $15,508
    Nontaxable benefits
    $26,192
    Filer's total
    $177,078

  • Mark A Bailey

    Chair

    Total calculated
    $17,765
    From this org
    $17,765
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.85

  • John Goettemoeller

    Secretary

    Total calculated
    $17,345
    From this org
    $17,345
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.45

  • Colleen R Eidemiller

    First Vice Chair

    Total calculated
    $15,740
    From this org
    $15,740
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.51

  • Wade Wilhelm

    Board Member

    Total calculated
    $14,930
    From this org
    $14,930
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.93

  • John Vulgamore

    Treasurer

    Total calculated
    $14,408
    From this org
    $14,408
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.67

  • Roger Bertke

    Second Vice Chair

    Total calculated
    $14,255
    From this org
    $14,255
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.14

  • Ted Black

    Board Member

    Total calculated
    $14,255
    From this org
    $14,255
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.72

  • Robert Billings

    Board Member

    Total calculated
    $13,040
    From this org
    $13,040
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.84

  • Bill Clark

    Board Member

    Total calculated
    $9,835
    From this org
    $9,835
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.16

  • Terry Householder

    Board Member Emeritus

    Total calculated
    $4,755
    From this org
    $4,755
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.02

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 · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
The trustees, officers and highest compensation employees were F. Lynn Maniaci, John Vulgamore, Jeff Dietz, Randy Carnahan and Steven A. McClay.

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
30 May 2025
IRS schema version
2024v5.0
Source object
202541489349301654

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