Form 990 for tax year 2023
Filed by MARSHALL COUNTY RURAL ELECTRIC MEMBERSHIP CORP.
Totals
- Total revenue
- $18,572,753
- Total expenses
- $16,289,404
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $18,278,930
- Investment income
- $26,966
- Other revenue
- $266,857
- Total assets, end of year
- $63,106,946
- Total liabilities, end of year
- $29,399,164
- Net assets or fund balances, end of year
- $33,707,782
- Program services expenses (Part IX)
- $16,289,404
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $16,289,404
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: Electric Sales
total $18,278,930 · related or exempt $18,278,930 · 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 $26,966 · related or exempt $0 · unrelated business $0 · excluded $26,966
-
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 $124,006 · personal property $0
-
6b · Less rental expenses
real property $0 · personal property $0
-
6c · Rental income or loss
real property $124,006 · personal property $0
-
6d · Net rental income or loss
total $124,006 · related or exempt $124,006 · unrelated business $0 · excluded $0
-
7c · Gain or loss
securities $0 · other assets $0
-
10a · Gross sales of inventory
$52,853
-
10b · Cost of goods sold
$26,692
-
10c · Net income from sales of inventory
total $26,161 · related or exempt $26,161 · unrelated business $0 · excluded $0
-
11a · Other revenue: Miscellaneous Revenue
total $116,690 · related or exempt $0 · unrelated business $0 · excluded $116,690
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$116,690
Functional expenses
Part IX, the statement of functional expenses.
-
6 · Compensation of disqualified persons
total $765,047 · program services $765,047
-
20 · Interest
total $874,856 · program services $874,856
-
22 · Depreciation, depletion and amortization
total $1,567,481 · program services $1,567,481
-
24a · Other expenses: Purchased Power
total $9,409,714 · program services $9,409,714 · management and general $0 · fundraising $0
-
24b · Other expenses: Operations & Maintenance
total $2,032,976 · program services $2,032,976 · management and general $0 · fundraising $0
-
24c · Other expenses: Consumer Service
total $445,092 · program services $445,092 · management and general $0 · fundraising $0
-
24d · Other expenses: General & Administration
total $1,096,197 · program services $1,096,197 · management and general $0 · fundraising $0
-
24e · All other expenses
total $98,041 · program services $98,041 · management and general $0 · fundraising $0
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $229,171 · end of year $374,880
-
2 · Savings and temporary cash investments
beginning of year $1,713,340 · end of year $511,429
-
3 · Pledges and grants receivable
beginning of year $0 · end of year $0
-
4 · Accounts receivable
beginning of year $1,443,876 · end of year $1,556,541
-
5 · Loans and receivables from officers and key people
beginning of year $0 · end of year $0
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $846,078 · end of year $1,710,772
-
9 · Prepaid expenses and deferred charges
beginning of year $1,434,805 · end of year $1,417,112
-
10a · Land, buildings and equipment: cost or other basis
$51,031,537
-
10b · Land, buildings and equipment: accumulated depreciation
$6,085,018
-
10c · Land, buildings and equipment, net
beginning of year $43,566,465 · end of year $44,946,519
-
11 · Investments: publicly traded securities
beginning of year $0
-
12 · Investments: other securities
beginning of year $0
-
13 · Investments: program-related
beginning of year $0
-
14 · Intangible assets
beginning of year $0
-
15 · Other assets
beginning of year $11,555,686 · end of year $12,589,693
-
17 · Accounts payable and accrued expenses
beginning of year $1,712,765 · end of year $1,716,091
-
18 · Grants payable
beginning of year $0 · end of year $0
-
19 · Deferred revenue
beginning of year $0 · end of year $0
-
20 · Tax-exempt bond liabilities
beginning of year $0 · end of year $0
-
21 · Escrow or custodial account liability
beginning of year $0 · end of year $0
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $27,639,692 · end of year $27,678,732
-
24 · Unsecured notes and loans payable
beginning of year $0 · end of year $0
-
25 · Other liabilities
beginning of year $4,437 · end of year $4,341
-
29 · Capital stock, trust principal or current funds
beginning of year $113,359 · end of year $113,749
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $118,017 · end of year $109,531
-
31 · Retained earnings, endowment or other funds
beginning of year $31,201,151 · end of year $33,484,502
Mission and programs · 2023
Mission
THE PURPOSE OF MARSHALL COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION IS TO DISTRIBUTE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTANT WITH SOUND ECONOMIC MANAGEMENT.
Activities or mission (Part I)
THE PURPOSE OF MARSHALL COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION IS TO DISTRIBUTE ELECTRIC ENERGY TO ITS MEMBERS AT THE LOWEST COST CONSISTANT WITH SOUND ECONOMIC MANAGEMENT.
-
DISTRIBUTION OF ELECTRICITY ON A COOPERATIVE BASIS.
Expenses $16,289,404 · Revenue $18,572,754
As filed on the 2023 return.
Listed in Part VII
-
David Lewallen
CEO/President
- Total calculated
- $194,191
- From this org
- $142,008
- From related orgs
- $0
- Other
- $52,183
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $136,000
- Bonus
- $0
- Other
- $6,008
- Deferred
- $0
- Nontaxable benefits
- $52,183
- Filer's total
- $194,191
-
Tod Brems
Operations Manager
- Total calculated
- $178,635
- From this org
- $127,946
- From related orgs
- $0
- Other
- $50,689
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $121,810
- Bonus
- $0
- Other
- $6,136
- Deferred
- $0
- Nontaxable benefits
- $50,689
- Filer's total
- $178,635
-
John YatesJOHN YATES
LINEMAN
- Total calculated
- $173,700
- From this org
- $126,569
- From related orgs
- $0
- Other
- $47,131
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $124,569
- Bonus
- $2,000
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $47,131
- Filer's total
- $173,700
-
Kenneth Eggleston
Lineman
- Total calculated
- $171,528
- From this org
- $130,487
- From related orgs
- $0
- Other
- $41,041
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $128,487
- Bonus
- $2,000
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $41,041
- Filer's total
- $171,528
-
Sawyer CripeSAWYER CRIPE
LINEMAN
- Total calculated
- $170,198
- From this org
- $123,067
- From related orgs
- $0
- Other
- $47,131
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $121,067
- Bonus
- $2,000
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $47,131
- Filer's total
- $170,198
-
Christopher Lawler
Lineman
- Total calculated
- $168,612
- From this org
- $121,481
- From related orgs
- $0
- Other
- $47,131
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $119,481
- Bonus
- $2,000
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $47,131
- Filer's total
- $168,612
-
Naomi PodlesakNAOMI PODLESAK
CFO
- Total calculated
- $144,008
- From this org
- $98,209
- From related orgs
- $0
- Other
- $45,799
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $98,209
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $45,799
- Filer's total
- $144,008
-
Dr Richard LeeperDR RICHARD LEEPER
DIRECTOR - CHAIRMAN
- Total calculated
- $32,154
- From this org
- $17,604
- From related orgs
- $14,550
- Other
- $0
- Hours/week
- 8 + 8 related
Schedule J breakdown matched by us
- Base
- $15,400 + $14,500 related
- Bonus
- $0
- Other
- $2,204
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $17,604 + $14,500 related
-
Jon RettingerJON RETTINGER
DIRECTOR - TREASURER/SECRETARY
- Total calculated
- $25,707
- From this org
- $15,807
- From related orgs
- $9,900
- Other
- $0
- Hours/week
- 8 + 5 related
Schedule J breakdown matched by us
- Base
- $15,400 + $9,900 related
- Bonus
- $0
- Other
- $407
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $15,807 + $9,900 related
-
Mikel LargeMIKEL LARGE
DIRECTOR - VICE-CHAIRMAN
- Total calculated
- $15,885
- From this org
- $15,885
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4
Schedule J breakdown matched by us
- Base
- $15,400
- Bonus
- $0
- Other
- $485
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $15,885
-
Robin RobertsROBIN ROBERTS
DIRECTOR
- Total calculated
- $15,662
- From this org
- $15,662
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
Schedule J breakdown matched by us
- Base
- $15,400
- Bonus
- $0
- Other
- $262
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $15,662
-
Andy LemlerANDY LEMLER
DIRECTOR
- Total calculated
- $15,621
- From this org
- $15,621
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
Schedule J breakdown matched by us
- Base
- $15,400
- Bonus
- $0
- Other
- $221
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $15,621
-
Stephen RingerSTEPHEN RINGER
DIRECTOR
- Total calculated
- $15,223
- From this org
- $15,223
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
Schedule J breakdown matched by us
- Base
- $15,000
- Bonus
- $0
- Other
- $223
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $15,223
-
Ryan Sieber
Director
- Total calculated
- $11,748
- From this org
- $11,748
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
Schedule J breakdown matched by us
- Base
- $11,650
- Bonus
- $0
- Other
- $98
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $11,748
-
Steve Roberts
Director
- Total calculated
- $3,750
- From this org
- $3,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3
Schedule J breakdown matched by us
- Base
- $3,750
- Bonus
- $0
- Other
- $0
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $3,750
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.
-
MARSHALL COUNTY RURAL DEVELOPMENT CORPORATION
C · GRANT DEVELOPMENT · IN · 100% owned
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 May 2024
- IRS schema version
- 2023v5.0
- Source object
- 202421359349303862
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