Form 990 for tax year 2025
Filed by LORAIN-MEDINA RURAL ELECTRIC COOP INC.
Totals
- Total revenue
- $53,962,602
- Total expenses
- $52,018,238
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $52,167,702
- Investment income
- $187,235
- Other revenue
- $1,607,665
- Total assets, end of year
- $135,237,730
- Total liabilities, end of year
- $57,643,365
- Net assets or fund balances, end of year
- $77,594,365
- Program services expenses (Part IX)
- $51,964,636
- Management and general expenses
- $53,602
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $51,964,636
Program services were 99.9% 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: RESIDENTIAL SALES
total $38,947,290 · related or exempt $38,947,290
-
2b · Program service revenue: COMMERCIAL SALES - LARGE
total $5,607,634 · related or exempt $5,607,634
-
2c · Program service revenue: COMMERCIAL SALES - SMALL
total $4,988,675 · related or exempt $4,988,675
-
2d · Program service revenue: PUBLIC REVENUES
total $1,523,692 · related or exempt $1,523,692
-
2e · Program service revenue: OTHER ELECTRIC REVENUES
total $1,100,411 · related or exempt $1,100,411
-
3 · Investment income
total $138,434 · excluded $138,434
-
7a · Gross sales of assets other than inventory
other assets $146,638
-
7b · Less cost or other basis and sales expenses
other assets $97,837
-
7c · Gain or loss
other assets $48,801
-
7d · Net gain or loss
total $48,801 · excluded $48,801
-
11a · Other revenue: G & T CO-OP CAPITAL CREDITS
total $961,615 · related or exempt $961,615
-
11b · Other revenue: MISC REVNEUE/EXPENSE
total $407,333 · unrelated business $22,927 · excluded $384,406
-
11c · Other revenue: OTHER CAPITAL CREDITS & PATRONAGE
total $238,717 · related or exempt $238,717
-
11e · Other revenue, total
$1,607,665
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $2,306,932 · program services $2,306,932
-
6 · Compensation of disqualified persons
total $1,415,132 · program services $1,415,132
-
11a · Fees: management
total $13,540 · management and general $13,540
-
11b · Fees: legal
total $15,861 · management and general $15,861
-
11c · Fees: accounting
total $24,201 · management and general $24,201
-
11g · Fees: other
total $35,848 · program services $35,848
-
12 · Advertising and promotion
total $244,247 · program services $244,247
-
20 · Interest
total $1,830,027 · program services $1,830,027
-
22 · Depreciation, depletion and amortization
total $4,300,989 · program services $4,300,989
-
24a · Other expenses: PURCHASED POWER
total $29,675,908 · program services $29,675,908
-
24b · Other expenses: OPERATIONS EXPENSE
total $3,962,374 · program services $3,962,374
-
24c · Other expenses: GENERAL AND ADMINISTRAT
total $2,859,678 · program services $2,859,678
-
24d · Other expenses: MAINTENANCE EXPENSE
total $2,390,129 · program services $2,390,129
-
24e · All other expenses
total $2,943,372 · program services $2,943,372
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $1,411,771 · end of year $722,118
-
2 · Savings and temporary cash investments
beginning of year $465,578 · end of year $494,732
-
4 · Accounts receivable
beginning of year $7,324,724 · end of year $8,407,430
-
7 · Other notes and loans receivable
beginning of year $9,064 · end of year $9,090
-
8 · Inventories for sale or use
beginning of year $1,396,554 · end of year $1,430,020
-
9 · Prepaid expenses and deferred charges
beginning of year $226,128 · end of year $250,048
-
10a · Land, buildings and equipment: cost or other basis
$143,562,322
-
10b · Land, buildings and equipment: accumulated depreciation
$42,283,338
-
10c · Land, buildings and equipment, net
beginning of year $90,872,998 · end of year $101,278,984
-
12 · Investments: other securities
beginning of year $21,222,869 · end of year $22,645,308
-
17 · Accounts payable and accrued expenses
beginning of year $7,467,669 · end of year $9,015,326
-
23 · Secured mortgages and notes payable
beginning of year $37,248,822 · end of year $46,882,644
-
25 · Other liabilities
beginning of year $2,677,202 · end of year $1,745,395
-
29 · Capital stock, trust principal or current funds
beginning of year $268,185 · end of year $268,185
-
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 $75,267,808 · end of year $77,326,180
Mission and programs · 2025
Mission
TO PROVIDE OUR MEMBER-OWNERS WITH HIGHLY RELIABLE ELECTRIC SERVICE, SUPERIOR CUSTOMER SERVICE AND INNOVATIVE ENERGY SOLUTIONS AT COMPETITIVE PRICES.
Activities or mission (Part I)
TO PROVIDE ELECTRICITY AND RELATED SERVICES TO MEMBERS.
-
PROVIDE ELECTRICITY AND RELATED SERVICES TO MEMBERS.
Expenses $51,964,636 · Revenue $53,368,034
As filed on the 2025 return.
Listed in Part VII
-
Rodney EatonRODNEY EATON
CHAIR
- Total calculated
- $18,275
- From this org
- $18,275
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.93
-
Gary RowlandGARY ROWLAND
VICE CHAIR
- Total calculated
- $17,450
- From this org
- $17,450
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.63
-
Keith LoweKEITH LOWE
TREASURER
- Total calculated
- $9,450
- From this org
- $9,450
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2.61
-
Brenda WolfeBRENDA WOLFE
SECRETARY
- Total calculated
- $11,200
- From this org
- $11,200
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.88
-
Gary Broderick Start 0725GARY BRODERICK START 0725
DIRECTOR
- Total calculated
- $4,675
- From this org
- $4,675
- From related orgs
- $0
- Other
- $0
- Hours/week
- 5.3
-
Judy PickworthJUDY PICKWORTH
DIRECTOR
- Total calculated
- $14,875
- From this org
- $14,875
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.89
-
Joseph SwinkoJOSEPH SWINKO
DIRECTOR
- Total calculated
- $12,750
- From this org
- $12,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 7.17
-
Richard DumperthRICHARD DUMPERTH
DIRECTOR
- Total calculated
- $6,750
- From this org
- $6,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2.77
-
Kenneth Diedrick Thru 0625KENNETH DIEDRICK THRU 0625
DIRECTOR
- Total calculated
- $5,950
- From this org
- $5,950
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.01
-
Brady McCannBRADY MCCANN
DIRECTOR
- Total calculated
- $10,950
- From this org
- $10,950
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.95
-
Joshua LongJOSHUA LONG
CFO
- Total calculated
- $147,178
- From this org
- $116,135
- From related orgs
- $0
- Other
- $31,043
- Hours/week
- 40
-
Brad WarnementBRAD WARNEMENT
CPE
- Total calculated
- $237,350
- From this org
- $126,062
- From related orgs
- $0
- Other
- $111,288
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $126,062
- Bonus
- $0
- Other
- $0
- Deferred
- $94,710
- Nontaxable benefits
- $16,578
- Filer's total
- $237,350
-
Edward VanhoooseEDWARD VANHOOOSE
CEO
- Total calculated
- $375,580
- From this org
- $277,887
- From related orgs
- $0
- Other
- $97,693
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $277,887
- Bonus
- $0
- Other
- $0
- Deferred
- $81,115
- Nontaxable benefits
- $16,578
- Filer's total
- $375,580
-
Andrew RuffinngANDREW RUFFINNG
CAO
- Total calculated
- $134,119
- From this org
- $103,942
- From related orgs
- $0
- Other
- $30,177
- Hours/week
- 40
-
Justis CliffordJUSTIS CLIFFORD
CSO
- Total calculated
- $132,124
- From this org
- $103,942
- From related orgs
- $0
- Other
- $28,182
- Hours/week
- 40
-
Jordan HoffmanJORDAN HOFFMAN
COO
- Total calculated
- $162,624
- From this org
- $119,581
- From related orgs
- $0
- Other
- $43,043
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $119,581
- Bonus
- $0
- Other
- $0
- Deferred
- $26,465
- Nontaxable benefits
- $16,578
- Filer's total
- $162,624
-
Matthew FrankartMATTHEW FRANKART
CPE
- Total calculated
- $113,832
- From this org
- $103,941
- From related orgs
- $0
- Other
- $9,891
- Hours/week
- 40
-
James BraseeJAMES BRASEE
OPERATIONS MANAGER
- Total calculated
- $299,796
- From this org
- $146,538
- From related orgs
- $0
- Other
- $153,258
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $146,538
- Bonus
- $0
- Other
- $0
- Deferred
- $126,471
- Nontaxable benefits
- $26,787
- Filer's total
- $299,796
-
James SpearsJAMES SPEARS
FOREMAN
- Total calculated
- $230,532
- From this org
- $112,424
- From related orgs
- $0
- Other
- $118,108
- Hours/week
- 42.41
Schedule J breakdown matched by us
- Base
- $112,424
- Bonus
- $0
- Other
- $0
- Deferred
- $91,321
- Nontaxable benefits
- $26,787
- Filer's total
- $230,532
-
Gerald WeidrickGERALD WEIDRICK
FOREMAN
- Total calculated
- $219,252
- From this org
- $112,424
- From related orgs
- $0
- Other
- $106,828
- Hours/week
- 40.01
Schedule J breakdown matched by us
- Base
- $112,424
- Bonus
- $0
- Other
- $0
- Deferred
- $80,041
- Nontaxable benefits
- $26,787
- Filer's total
- $219,252
-
Colleen AnthonyCOLLEEN ANTHONY
ACCOUNTING MANAGER
- Total calculated
- $239,511
- From this org
- $131,178
- From related orgs
- $0
- Other
- $108,333
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $131,178
- Bonus
- $0
- Other
- $0
- Deferred
- $81,546
- Nontaxable benefits
- $26,787
- Filer's total
- $239,511
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 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.
Related corporations and trusts
Part IV: related organizations taxable as a corporation or trust.
-
FEDERATED ENERGY SERVICES COOPERATIVE INC
C · SERVICE MANAGEMENT · OH · 50% owned
-
LORAIN-MEDINA RURAL DEVELOPMENT CORP INC
C · ECONOMIC DEVELOPMENT · OH · 100% owned · share of income -$26,454 · share of assets $3,329,923
Directly controlled by LORIAN-MEDINA RURAL ELECTRIC COOPERATIVE
Provenance
- Return type
- form_990
- Tax year
- 2025
- Filed
- 15 May 2026
- IRS schema version
- 2025v4.1
- Source object
- 202601359349301520
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