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Nonprofiteer
← PIONEER RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by PIONEER RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$76,695,547
Total expenses
$76,695,547
Contributions and grants received
$0
Grants paid
$5,500
Program service revenue
$73,388,503
Investment income
$167,820
Other revenue
$3,139,224
Total assets, end of year
$147,340,975
Total liabilities, end of year
$58,890,495
Net assets or fund balances, end of year
$88,450,480
Program services expenses (Part IX)
$76,695,547
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$76,695,547

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 $73,388,503 · related or exempt $73,388,503 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

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

  • 3 · Investment income

    total $167,820 · related or exempt $167,820 · 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 $281,913 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $281,913 · personal property $0

  • 6d · Net rental income or loss

    total $281,913 · related or exempt $281,913 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Patronage Capital

    total $2,850,387 · related or exempt $2,850,387 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Miscellaneous Revenue

    total $6,924 · related or exempt $6,924 · unrelated business $0 · excluded $0

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $2,857,311

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $5,500 · program services $5,500

  • 4 · Benefits paid to or for members

    total $6,357,137 · program services $6,357,137

  • 5 · Compensation of officers, directors and key employees

    total $667,652 · program services $667,652 · 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 $3,762,929 · program services $3,762,929 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $769,796 · program services $769,796 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $688,580 · program services $688,580 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $292,232 · program services $292,232 · management and general $0 · fundraising $0

  • 20 · Interest

    total $2,161,191 · program services $2,161,191 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $4,367,899 · program services $4,367,899 · management and general $0 · fundraising $0

  • 24a · Other expenses: Cost of Purchase Power

    total $49,772,046 · program services $49,772,046 · management and general $0 · fundraising $0

  • 24b · Other expenses: Operating and Maintenance Expenses

    total $6,115,430 · program services $6,115,430 · management and general $0 · fundraising $0

  • 24c · Other expenses: Taxes and Other Expenses

    total $1,647,150 · program services $1,647,150 · management and general $0 · fundraising $0

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

    total $88,005 · program services $88,005 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $9,319,657 · end of year $9,874,152

  • 4 · Accounts receivable

    beginning of year $5,588,399 · end of year $6,418,407

  • 8 · Inventories for sale or use

    beginning of year $1,217,140 · end of year $1,199,804

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,014,705 · end of year $356,724

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

    $133,107,634

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

    $43,389,443

  • 10c · Land, buildings and equipment, net

    beginning of year $86,352,864 · end of year $89,718,191

  • 15 · Other assets

    beginning of year $39,059,433 · end of year $39,773,697

  • 17 · Accounts payable and accrued expenses

    beginning of year $6,327,079 · end of year $5,333,112

  • 23 · Secured mortgages and notes payable

    beginning of year $47,240,229 · end of year $49,245,384

  • 25 · Other liabilities

    beginning of year $4,141,801 · end of year $4,311,999

  • 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 $84,843,089 · end of year $88,450,480

Mission and programs · 2023

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 17,200 members in eleven counties in rural Ohio

  • Utilities

    Expenses $76,695,547 · Revenue $76,695,547

As filed on the 2023 return.

Listed in Part VII

  • Ronald P Salyer

    President/CEO

    Total calculated
    $410,159
    From this org
    $274,814
    From related orgs
    $0
    Other
    $135,345
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $266,521
    Bonus
    $0
    Other
    $8,293
    Deferred
    $111,891
    Nontaxable benefits
    $26,219
    Filer's total
    $412,924

  • Susan M Knore

    Vice President/CFO

    Total calculated
    $252,823
    From this org
    $188,990
    From related orgs
    $0
    Other
    $63,833
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $169,473
    Bonus
    $0
    Other
    $19,517
    Deferred
    $40,487
    Nontaxable benefits
    $25,251
    Filer's total
    $254,728

  • F Lynn Maniaci

    Director of Tech Services and Engring

    Total calculated
    $247,736
    From this org
    $170,414
    From related orgs
    $0
    Other
    $77,322
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $140,414
    Bonus
    $0
    Other
    $30,000
    Deferred
    $53,976
    Nontaxable benefits
    $25,068
    Filer's total
    $249,458

  • Steven A McClay

    Director of Operations & Safety

    Total calculated
    $239,097
    From this org
    $155,979
    From related orgs
    $0
    Other
    $83,118
    Hours/week
    46.5

    Schedule J breakdown matched by us

    Base
    $134,117
    Bonus
    $0
    Other
    $21,862
    Deferred
    $59,772
    Nontaxable benefits
    $24,858
    Filer's total
    $240,609

  • Jeff Dietz

    Manager of Engineering

    Total calculated
    $212,038
    From this org
    $156,915
    From related orgs
    $0
    Other
    $55,123
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $138,353
    Bonus
    $0
    Other
    $18,563
    Deferred
    $31,669
    Nontaxable benefits
    $25,063
    Filer's total
    $213,648

  • Todd D Garrett

    Manager of Community & Gov't Relations

    Total calculated
    $204,854
    From this org
    $146,010
    From related orgs
    $0
    Other
    $58,844
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $116,010
    Bonus
    $0
    Other
    $30,000
    Deferred
    $40,371
    Nontaxable benefits
    $19,972
    Filer's total
    $206,353

  • John Holcomb

    Lineman First Class Service Truck

    Total calculated
    $175,363
    From this org
    $129,625
    From related orgs
    $0
    Other
    $45,738
    Hours/week
    48.5

    Schedule J breakdown matched by us

    Base
    $125,576
    Bonus
    $0
    Other
    $4,048
    Deferred
    $27,372
    Nontaxable benefits
    $19,209
    Filer's total
    $176,205

  • Terry Householder

    Chair

    Total calculated
    $19,825
    From this org
    $19,825
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.9

  • Colleen R Eidemiller

    First Vice Chair

    Total calculated
    $15,905
    From this org
    $15,905
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.62

  • John Goettemoeller

    Secretary

    Total calculated
    $15,455
    From this org
    $15,455
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.08

  • Roger Bertke

    Second Vice Chair

    Total calculated
    $13,985
    From this org
    $13,985
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.33

  • Mark A Bailey

    Treasurer

    Total calculated
    $13,715
    From this org
    $13,715
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.81

  • Robert Billings

    Board Member

    Total calculated
    $13,690
    From this org
    $13,690
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.4

  • John Vulgamore

    Board Member

    Total calculated
    $13,319
    From this org
    $13,319
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.92

  • Wade Wilhelm

    Board Member

    Total calculated
    $12,770
    From this org
    $12,770
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.34

  • Ted Black

    Board Member

    Total calculated
    $11,935
    From this org
    $11,935
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.08

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 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
2023
Filed
2 May 2024
IRS schema version
2023v5.0
Source object
202441209349301314

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