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Nonprofiteer
← JAY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by JAY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$23,993,270
Total expenses
$21,763,188
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$22,983,099
Investment income
$88,906
Other revenue
$921,265
Total assets, end of year
$37,409,125
Total liabilities, end of year
$4,274,095
Net assets or fund balances, end of year
$33,135,030
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 $22,983,099 · related or exempt $22,983,099

  • 3 · Investment income

    total $88,906 · excluded $88,906

  • 11a · Other revenue: PATRONAGE CAPITAL

    total $890,025 · excluded $890,025

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $31,240 · excluded $31,240

  • 11e · Other revenue, total

    $921,265

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $323,184

  • 6 · Compensation of disqualified persons

    total $8,194

  • 7 · Other salaries and wages

    total $1,206,365

  • 8 · Pension plan contributions

    total $223,910

  • 9 · Other employee benefits

    total $360,893

  • 10 · Payroll taxes

    total $103,171

  • 11b · Fees: legal

    total $22,396

  • 11c · Fees: accounting

    total $23,430

  • 11g · Fees: other

    total $51,628

  • 12 · Advertising and promotion

    total $63,991

  • 13 · Office expenses

    total $172,182

  • 14 · Information technology

    total $100,904

  • 16 · Occupancy

    total $34,126

  • 17 · Travel

    total $34,483

  • 20 · Interest

    total $108,918

  • 22 · Depreciation, depletion and amortization

    total $1,056,460

  • 23 · Insurance

    total $72,453

  • 24a · Other expenses: COST OF POWER

    total $16,540,018

  • 24b · Other expenses: OPERATIONS

    total $429,187

  • 24c · Other expenses: ADMINISTRATIVE

    total $326,423

  • 24d · Other expenses: CUSTOMER SERVICE & ACCOUN

    total $233,386

  • 24e · All other expenses

    total $267,486

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,026,521 · end of year $2,090,736

  • 4 · Accounts receivable

    beginning of year $2,025,340 · end of year $2,199,963

  • 8 · Inventories for sale or use

    beginning of year $1,001,669 · end of year $1,420,436

  • 9 · Prepaid expenses and deferred charges

    beginning of year $509,074 · end of year $416,635

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

    $38,833,672

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

    $15,165,161

  • 10c · Land, buildings and equipment, net

    beginning of year $22,427,427 · end of year $23,668,511

  • 12 · Investments: other securities

    beginning of year $6,780,723 · end of year $7,612,844

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,433,665 · end of year $1,611,329

  • 23 · Secured mortgages and notes payable

    beginning of year $1,940,671 · end of year $2,365,778

  • 25 · Other liabilities

    beginning of year $432,047 · end of year $296,988

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

    beginning of year $37,392 · end of year $35,876

  • 31 · Retained earnings, endowment or other funds

    beginning of year $30,926,979 · end of year $33,099,154

Mission and programs · 2024

Mission

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

  • DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS

As filed on the 2024 return.

Listed in Part VII

  • Philip J Laux

    DIRECTOR

    Total calculated
    $12,739
    From this org
    $12,739
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.46

  • Ronald Smithson

    DIRECTOR

    Total calculated
    $3,126
    From this org
    $3,126
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.75

  • Kenneth D Denton

    CHAIRMAN

    Total calculated
    $9,033
    From this org
    $9,033
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.44

  • Klint R Moser

    DIRECTOR

    Total calculated
    $21,711
    From this org
    $21,711
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.19

  • Bethany G Edwards

    DIRECTOR

    Total calculated
    $7,410
    From this org
    $7,410
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.81

  • Kent K Homan

    DIRECTOR

    Total calculated
    $21,652
    From this org
    $21,652
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.12

  • Rick A Dues

    DIRECTOR

    Total calculated
    $19,569
    From this org
    $19,569
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.67

  • Drury E Hall

    DIRECTOR

    Total calculated
    $22,011
    From this org
    $22,011
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.25

  • Angela S Lutes

    DIRECTOR

    Total calculated
    $4,005
    From this org
    $4,005
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.48

  • Neil Draper

    CEO

    Total calculated
    $251,863
    From this org
    $201,928
    From related orgs
    $0
    Other
    $49,935
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $201,928
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $49,935
    Filer's total
    $251,863

  • Duane Monroe

    WORKING FORE

    Total calculated
    $150,652
    From this org
    $133,977
    From related orgs
    $0
    Other
    $16,675
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $133,977
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $16,675
    Filer's total
    $150,652

  • Daniel Paxson

    JOURNEYMAN L

    Total calculated
    $135,977
    From this org
    $119,910
    From related orgs
    $0
    Other
    $16,067
    Hours/week
    40

  • Jeffery Myers

    ENGINEERING

    Total calculated
    $157,105
    From this org
    $124,440
    From related orgs
    $0
    Other
    $32,665
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $124,440
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $32,665
    Filer's total
    $157,105

  • Ricky Thompson

    JOURNEYMAN L

    Total calculated
    $128,269
    From this org
    $113,214
    From related orgs
    $0
    Other
    $15,055
    Hours/week
    40

  • Mason Quickery

    JOURNEYMAN L

    Total calculated
    $146,626
    From this org
    $130,559
    From related orgs
    $0
    Other
    $16,067
    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
2024
Filed
16 June 2025
IRS schema version
2024v5.0
Source object
202501819349301255

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