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Nonprofiteer
← JAY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by JAY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$23,183,442
Total expenses
$21,547,744
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$22,291,290
Investment income
$108,908
Other revenue
$783,244
Total assets, end of year
$34,770,754
Total liabilities, end of year
$3,806,383
Net assets or fund balances, end of year
$30,964,371
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: OPERATING REVENUE

    total $22,291,290 · related or exempt $22,291,290

  • 3 · Investment income

    total $104,255 · excluded $104,255

  • 7a · Gross sales of assets other than inventory

    other assets $6,000

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

    other assets $1,347

  • 7c · Gain or loss

    other assets $4,653

  • 7d · Net gain or loss

    total $4,653 · related or exempt $4,653

  • 11a · Other revenue: PATRONAGE CAPITAL

    total $783,244 · excluded $783,244

  • 11e · Other revenue, total

    $783,244

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $316,443

  • 7 · Other salaries and wages

    total $1,142,748

  • 8 · Pension plan contributions

    total $200,164

  • 9 · Other employee benefits

    total $375,842

  • 10 · Payroll taxes

    total $96,873

  • 11b · Fees: legal

    total $25,778

  • 11c · Fees: accounting

    total $22,830

  • 11g · Fees: other

    total $43,730

  • 12 · Advertising and promotion

    total $66,264

  • 13 · Office expenses

    total $161,101

  • 14 · Information technology

    total $116,671

  • 16 · Occupancy

    total $26,235

  • 17 · Travel

    total $32,763

  • 20 · Interest

    total $115,385

  • 22 · Depreciation, depletion and amortization

    total $1,031,892

  • 23 · Insurance

    total $65,641

  • 24a · Other expenses: COST OF POWER

    total $16,313,463

  • 24b · Other expenses: OPERATIONS

    total $450,930

  • 24c · Other expenses: MAINTENANCE

    total $337,982

  • 24d · Other expenses: CUSTOMER SERVICE & ACCOUN

    total $259,578

  • 24e · All other expenses

    total $345,431

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,822,668 · end of year $2,026,521

  • 4 · Accounts receivable

    beginning of year $2,000,698 · end of year $2,025,340

  • 8 · Inventories for sale or use

    beginning of year $871,868 · end of year $1,001,669

  • 9 · Prepaid expenses and deferred charges

    beginning of year $414,714 · end of year $509,074

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

    $37,152,520

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

    $14,725,093

  • 10c · Land, buildings and equipment, net

    beginning of year $21,417,177 · end of year $22,427,427

  • 12 · Investments: other securities

    beginning of year $6,054,404 · end of year $6,780,723

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,582,378 · end of year $1,433,665

  • 23 · Secured mortgages and notes payable

    beginning of year $2,295,603 · end of year $1,940,671

  • 25 · Other liabilities

    beginning of year $403,056 · end of year $432,047

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

    beginning of year $38,446 · end of year $37,392

  • 31 · Retained earnings, endowment or other funds

    beginning of year $29,262,046 · end of year $30,926,979

Mission and programs · 2023

Mission

THE MOST SIGNIFICANT ACTIVITY OF THE ELECTRIC COOPERATIVE IS THE DISTRIBUTION OF ELECTRICITY.

  • DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS

As filed on the 2023 return.

Listed in Part VII

  • Steve Ritchie

    CHAIRMAN

    Total calculated
    $11,993
    From this org
    $11,993
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.93

  • Philip Laux

    DIRECTOR

    Total calculated
    $6,637
    From this org
    $6,637
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.98

  • Ronald Smithson

    DIRECTOR

    Total calculated
    $2,958
    From this org
    $2,958
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.8

  • Kenneth D Denton

    DIRECTOR

    Total calculated
    $21,685
    From this org
    $21,685
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.7

  • Klint Moser

    DIRECTOR

    Total calculated
    $21,805
    From this org
    $21,805
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.07

  • Bethany Edwards

    DIRECTOR

    Total calculated
    $975
    From this org
    $975
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.43

  • Kent Homan

    DIRECTOR

    Total calculated
    $21,925
    From this org
    $21,925
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.9

  • Rick Dues

    DIRECTOR

    Total calculated
    $22,705
    From this org
    $22,705
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.41

  • Dru Hall

    DIRECTOR

    Total calculated
    $21,073
    From this org
    $21,073
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.57

  • Diane Schrock

    DIRECTOR

    Total calculated
    $3,738
    From this org
    $3,738
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.33

  • Michael Ninde

    DIRECTOR

    Total calculated
    $7,939
    From this org
    $7,939
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.6

  • Neil Draper

    CEO

    Total calculated
    $173,010
    From this org
    $166,691
    From related orgs
    $0
    Other
    $6,319
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $166,691
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $6,319
    Filer's total
    $173,010

  • Jeffery Myers

    MANAGER OF E

    Total calculated
    $150,823
    From this org
    $120,823
    From related orgs
    $0
    Other
    $30,000
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $120,823
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $30,000
    Filer's total
    $150,823

  • Patrick Byrum

    MANAGER OF O

    Total calculated
    $102,506
    From this org
    $102,506
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

  • Becky Napert

    BUSINESS MAN

    Total calculated
    $101,784
    From this org
    $101,784
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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.

Provenance

Return type
form_990
Tax year
2023
Filed
5 September 2024
IRS schema version
2023v5.0
Source object
202402709349301270

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