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Nonprofiteer
← WARREN COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by WARREN COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$16,474,777
Total expenses
$15,299,331
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$15,674,375
Investment income
$226,554
Other revenue
$573,848
Total assets, end of year
$35,319,588
Total liabilities, end of year
$16,210,943
Net assets or fund balances, end of year
$19,108,645
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$15,299,331

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 SALES

    total $15,657,909 · related or exempt $15,657,909

  • 2b · Program service revenue: OTHER ELECTRIC REVENUES

    total $16,466 · related or exempt $16,466

  • 3 · Investment income

    total $35,193 · excluded $35,193

  • 7a · Gross sales of assets other than inventory

    other assets $227,500

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

    other assets $36,139

  • 7c · Gain or loss

    other assets $191,361

  • 7d · Net gain or loss

    total $191,361 · excluded $191,361

  • 10a · Gross sales of inventory

    $8,797

  • 10b · Cost of goods sold

    $1,688

  • 10c · Net income from sales of inventory

    total $7,109 · related or exempt $7,109

  • 11a · Other revenue: PATRONAGE REVENUE

    total $566,739 · excluded $566,739

  • 11e · Other revenue, total

    $566,739

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $679,023

  • 9 · Other employee benefits

    total $127,203

  • 11b · Fees: legal

    total $52,591

  • 11c · Fees: accounting

    total $18,370

  • 20 · Interest

    total $722,787

  • 22 · Depreciation, depletion and amortization

    total $1,306,592

  • 24a · Other expenses: POWER COSTS

    total $9,548,731

  • 24b · Other expenses: MAINTENANCE

    total $1,459,860

  • 24c · Other expenses: ADMINISTRATIVE

    total $720,470

  • 24d · Other expenses: OPERATIONS

    total $283,365

  • 24e · All other expenses

    total $380,339

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,199,219 · end of year $1,119,195

  • 4 · Accounts receivable

    beginning of year $1,517,355 · end of year $1,777,109

  • 8 · Inventories for sale or use

    beginning of year $325,216 · end of year $397,993

  • 9 · Prepaid expenses and deferred charges

    beginning of year $23,036 · end of year $23,931

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

    $40,297,620

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

    $14,137,618

  • 10c · Land, buildings and equipment, net

    beginning of year $25,774,477 · end of year $26,160,002

  • 12 · Investments: other securities

    beginning of year $5,342,811 · end of year $5,841,358

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,295,191 · end of year $1,188,217

  • 23 · Secured mortgages and notes payable

    beginning of year $14,537,345 · end of year $15,022,726

  • 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 $18,349,578 · end of year $19,108,645

Mission and programs · 2023

Mission

TO DISTRIBUTE ELECTRICITY TO ITS MEMBERS

Activities or mission (Part I)

DISTRIBUTION OF ELECTRICITY TO ITS MEMBERS

  • TO PROVIDE ELECTRICITY TO ITS MEMBERS.

    Expenses $15,299,331 · Revenue $15,665,018

As filed on the 2023 return.

Listed in Part VII

  • Michael R Conner

    PRESIDENT

    Total calculated
    $1,950
    From this org
    $1,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.13

  • Bruce A Buchanan

    DIRECTOR

    Total calculated
    $17,841
    From this org
    $1,650
    From related orgs
    $0
    Other
    $16,191
    Hours/week
    2.63

  • Don E McKinnins

    SECRETARY/TREASURER ASSIST

    Total calculated
    $1,800
    From this org
    $1,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.74

  • David Lawlyes

    DIRECTOR

    Total calculated
    $15,274
    From this org
    $1,200
    From related orgs
    $0
    Other
    $14,074
    Hours/week
    2.11

  • Thomas J Leak

    DIRECTOR

    Total calculated
    $900
    From this org
    $900
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.39

  • Kevin T McNeil

    DIRECTOR

    Total calculated
    $1,350
    From this org
    $1,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.4

  • Jeffery W Clem

    VICE PRESIDENT

    Total calculated
    $17,841
    From this org
    $1,650
    From related orgs
    $0
    Other
    $16,191
    Hours/week
    2.85

  • Dwain Akers

    DIRECTOR

    Total calculated
    $17,341
    From this org
    $1,800
    From related orgs
    $0
    Other
    $15,541
    Hours/week
    2.69

  • Rich Potter

    ASSISTANT SECRETARY/TREASURER

    Total calculated
    $17,991
    From this org
    $1,800
    From related orgs
    $0
    Other
    $16,191
    Hours/week
    2.6

  • Troy Leak

    DIRECTOR

    Total calculated
    $7,240
    From this org
    $750
    From related orgs
    $0
    Other
    $6,490
    Hours/week
    1.06

  • C Charlie Dunn

    CEO

    Total calculated
    $258,489
    From this org
    $198,850
    From related orgs
    $0
    Other
    $59,639
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $198,850
    Bonus
    $0
    Other
    $0
    Deferred
    $32,243
    Nontaxable benefits
    $27,396
    Filer's total
    $258,489

  • Cory Reynolds

    ENG & OPERATIONS MANAGER

    Total calculated
    $180,513
    From this org
    $139,211
    From related orgs
    $0
    Other
    $41,302
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,211
    Bonus
    $0
    Other
    $0
    Deferred
    $21,334
    Nontaxable benefits
    $19,968
    Filer's total
    $180,513

  • Vance Stwalley

    LINE FOREMAN

    Total calculated
    $174,403
    From this org
    $124,890
    From related orgs
    $0
    Other
    $49,513
    Hours/week
    44.58

    Schedule J breakdown matched by us

    Base
    $124,890
    Bonus
    $0
    Other
    $0
    Deferred
    $17,426
    Nontaxable benefits
    $32,087
    Filer's total
    $174,403

  • Chad Burton

    JOURNEYMAN LINEMAN

    Total calculated
    $164,077
    From this org
    $115,971
    From related orgs
    $0
    Other
    $48,106
    Hours/week
    44.82

    Schedule J breakdown matched by us

    Base
    $115,971
    Bonus
    $0
    Other
    $0
    Deferred
    $16,590
    Nontaxable benefits
    $31,516
    Filer's total
    $164,077

  • Kayle Hutson

    JOURNEYMAN LINEMAN

    Total calculated
    $165,907
    From this org
    $117,438
    From related orgs
    $0
    Other
    $48,469
    Hours/week
    44.23

    Schedule J breakdown matched by us

    Base
    $117,438
    Bonus
    $0
    Other
    $0
    Deferred
    $16,590
    Nontaxable benefits
    $31,879
    Filer's total
    $165,907

  • Adam Houser

    JOURNEYMAN LINEMAN

    Total calculated
    $160,467
    From this org
    $111,998
    From related orgs
    $0
    Other
    $48,469
    Hours/week
    45.05

    Schedule J breakdown matched by us

    Base
    $111,998
    Bonus
    $0
    Other
    $0
    Deferred
    $16,590
    Nontaxable benefits
    $31,879
    Filer's total
    $160,467

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 · Travel for companions
  • 3 · Approval by the board or compensation committee

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

The filer's explanations (Part III)

PART I, LINE 1A
TRAVEL FOR COMPANIONS IS ALLOWED FOR DIRECTORS TO COMPANY SPONSORED CONVENTIONS, SUCH AS THE NRECA NATIONAL CONVENTION. DIRECTOR EXPENSE ALLOTMENT FOR MEETINGS ARE APPROVED BY BOARD DIRECTORS.

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
26 July 2024
IRS schema version
2023v5.1
Source object
202432089349300438

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