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Nonprofiteer
← JOHNSON COUNTY RURAL ELEC MEM CORP

Form 990 for tax year 2025

Filed by JOHNSON COUNTY RURAL ELEC MEM CORP.

Totals

Total revenue
$77,223,277
Total expenses
$75,020,014
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$75,690,034
Investment income
$661,203
Other revenue
$872,040
Total assets, end of year
$243,996,791
Total liabilities, end of year
$143,897,621
Net assets or fund balances, end of year
$100,099,170
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$75,020,014

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: Electricity distribution

    total $75,387,820 · related or exempt $75,387,820

  • 2b · Program service revenue: Penaltiesservice charges

    total $302,214 · related or exempt $302,214

  • 3 · Investment income

    total $643,923 · related or exempt $643,923

  • 6a · Gross rents

    personal property $189,497

  • 6c · Rental income or loss

    personal property $189,497

  • 6d · Net rental income or loss

    total $189,497

  • 7a · Gross sales of assets other than inventory

    other assets $30,301

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

    other assets $13,021

  • 7c · Gain or loss

    other assets $17,280

  • 7d · Net gain or loss

    total $17,280

  • 8c · Net income from fundraising events

    total $0

  • 10a · Gross sales of inventory

    $153,118

  • 10b · Cost of goods sold

    $154,165

  • 10c · Net income from sales of inventory

    total -$1,047

  • 11a · Other revenue: Patronage capital

    total $159,046 · related or exempt $159,046

  • 11b · Other revenue: Patronage capital assoc

    total $199,574 · related or exempt $199,574

  • 11d · All other revenue

    total $324,970 · related or exempt $324,970

  • 11e · Other revenue, total

    $683,590

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $801,233

  • 7 · Other salaries and wages

    total $4,796,777

  • 8 · Pension plan contributions

    total $754,104

  • 9 · Other employee benefits

    total $388,704

  • 10 · Payroll taxes

    total $488,603

  • 11b · Fees: legal

    total $189,725

  • 11c · Fees: accounting

    total $19,940

  • 11d · Fees: lobbying

    total $8,433

  • 12 · Advertising and promotion

    total $266,947

  • 13 · Office expenses

    total $69,135

  • 14 · Information technology

    total $478,691

  • 16 · Occupancy

    total $310,221

  • 17 · Travel

    total $85,767

  • 19 · Conferences, conventions and meetings

    total $134,589

  • 20 · Interest

    total $5,004,634

  • 21 · Payments to affiliates

    total $234,847

  • 22 · Depreciation, depletion and amortization

    total $6,012,072

  • 23 · Insurance

    total $71,025

  • 24a · Other expenses: purchased power

    total $49,636,317

  • 24b · Other expenses: line operation & maint

    total $4,388,162

  • 24c · Other expenses: taxes

    total $548,667

  • 24d · Other expenses: meter reading

    total $30,484

  • 24e · All other expenses

    total $300,937

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $12,836 · end of year $10,354

  • 2 · Savings and temporary cash investments

    beginning of year $2,423,522 · end of year $1,331,051

  • 4 · Accounts receivable

    beginning of year $12,733,952 · end of year $14,609,666

  • 7 · Other notes and loans receivable

    beginning of year $16,704,466 · end of year $18,756,573

  • 8 · Inventories for sale or use

    beginning of year $9,558,921 · end of year $9,801,341

  • 9 · Prepaid expenses and deferred charges

    beginning of year $134,441 · end of year $143,826

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

    $210,114,550

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

    $39,910,245

  • 10c · Land, buildings and equipment, net

    beginning of year $118,915,083 · end of year $170,204,305

  • 13 · Investments: program-related

    beginning of year $29,828,195 · end of year $29,133,583

  • 15 · Other assets

    beginning of year $12,362,831 · end of year $6,092

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,205,999 · end of year $34,606,677

  • 23 · Secured mortgages and notes payable

    beginning of year $86,067,530 · end of year $104,351,909

  • 25 · Other liabilities

    beginning of year $4,370,409 · end of year $4,939,035

  • 31 · Retained earnings, endowment or other funds

    beginning of year $99,030,309 · end of year $100,099,170

Mission and programs · 2025

Mission

To safely and efficiently provide reliable electric services for the community.

Activities or mission (Part I)

To safely and efficiently provide reliable electric services for the community

  • Distribution of electricity

    Expenses $75,020,014 · Revenue $76,048,654

As filed on the 2025 return.

Listed in Part VII

  • John Sturm

    CEO

    Total calculated
    $536,451
    From this org
    $422,855
    From related orgs
    $0
    Other
    $113,596
    Hours/week
    42.5 + 3 related

    Schedule J breakdown matched by us

    Base
    $372,255
    Bonus
    $50,000
    Other
    $600
    Deferred
    $84,961
    Nontaxable benefits
    $28,635
    Filer's total
    $536,451

  • Terry Miller

    VP of Finance

    Total calculated
    $334,029
    From this org
    $211,353
    From related orgs
    $0
    Other
    $122,676
    Hours/week
    43.4 + 3 related

    Schedule J breakdown matched by us

    Base
    $192,811
    Bonus
    $3,000
    Other
    $15,542
    Deferred
    $95,280
    Nontaxable benefits
    $27,396
    Filer's total
    $334,029

  • Kevin Shelley

    VP of Engineering

    Total calculated
    $267,297
    From this org
    $188,143
    From related orgs
    $0
    Other
    $79,154
    Hours/week
    41.1

    Schedule J breakdown matched by us

    Base
    $180,476
    Bonus
    not reported
    Other
    $7,667
    Deferred
    $51,875
    Nontaxable benefits
    $27,279
    Filer's total
    $267,297

  • Nick Stainbrook

    VP of Operations

    Total calculated
    $249,373
    From this org
    $171,378
    From related orgs
    $0
    Other
    $77,995
    Hours/week
    41.9 + 4 related

    Schedule J breakdown matched by us

    Base
    $160,807
    Bonus
    not reported
    Other
    $10,571
    Deferred
    $50,981
    Nontaxable benefits
    $27,014
    Filer's total
    $249,373

  • Shawn Frye

    VP of Technology

    Total calculated
    $230,944
    From this org
    $163,755
    From related orgs
    $0
    Other
    $67,189
    Hours/week
    41.9 + 2 related

    Schedule J breakdown matched by us

    Base
    $150,409
    Bonus
    not reported
    Other
    $13,346
    Deferred
    $40,325
    Nontaxable benefits
    $26,864
    Filer's total
    $230,944

  • Steven Stout

    Journeyman Lineman

    Total calculated
    $186,810
    From this org
    $148,902
    From related orgs
    $0
    Other
    $37,908
    Hours/week
    50.7

    Schedule J breakdown matched by us

    Base
    $148,302
    Bonus
    not reported
    Other
    $600
    Deferred
    $11,510
    Nontaxable benefits
    $26,398
    Filer's total
    $186,810

  • Daniel Wood

    Mgr Electric Operation

    Total calculated
    $182,658
    From this org
    $138,315
    From related orgs
    $0
    Other
    $44,343
    Hours/week
    44.1

    Schedule J breakdown matched by us

    Base
    $135,215
    Bonus
    $2,500
    Other
    $600
    Deferred
    $34,725
    Nontaxable benefits
    $9,618
    Filer's total
    $182,658

  • Jamie Meredith

    Vice President

    Total calculated
    $34,950
    From this org
    $26,200
    From related orgs
    $8,750
    Other
    $0
    Hours/week
    4.1 + 0.3 related

  • Stephen Watson

    President

    Total calculated
    $34,675
    From this org
    $25,925
    From related orgs
    $8,750
    Other
    $0
    Hours/week
    4.4 + 0.3 related

  • Ronald Barnett

    SecretaryTreasurer

    Total calculated
    $33,900
    From this org
    $25,150
    From related orgs
    $8,750
    Other
    $0
    Hours/week
    6.6 + 0.3 related

  • Dennis Stewart

    Board of Director

    Total calculated
    $31,650
    From this org
    $23,250
    From related orgs
    $8,400
    Other
    $0
    Hours/week
    4 + 0.2 related

  • Glenn McAlpin

    Board of Director

    Total calculated
    $31,300
    From this org
    $22,550
    From related orgs
    $8,750
    Other
    $0
    Hours/week
    5.9 + 0.3 related

  • Seth Brown

    Board of Director

    Total calculated
    $30,950
    From this org
    $22,200
    From related orgs
    $8,750
    Other
    $0
    Hours/week
    5.9 + 0.3 related

  • Lee Ann Wilbur

    Board of Director

    Total calculated
    $30,500
    From this org
    $21,750
    From related orgs
    $8,750
    Other
    $0
    Hours/week
    4.9 + 0.3 related

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 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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Johnson County Fiber Network

    NA · Data Communications · IN

    Directly controlled by NA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Effective Systems

    C corp · Holding Company · IN · 100% owned · share of income $91,899 · share of assets $3,780,380

    Directly controlled by JCREMC

  • Rural Utility Economic Development Corporation

    C corp · Back-Up Generator · IN · 100% owned · share of income $80,000 · share of assets $6,282

    Directly controlled by Effective Systems

  • Effective Systems Fiber Network

    C corp · Data Communications · IN · 100% owned · share of income $3,955,542 · share of assets $26,331,732

    Directly controlled by Effective Systems

Provenance

Return type
form_990
Tax year
2025
Filed
14 July 2026
IRS schema version
2025v4.2
Source object
202611959349300526

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