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Nonprofiteer
← SOUTHEASTERN INDIANA RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2022

Filed by SOUTHEASTERN INDIANA RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$32,977,068
Total expenses
$32,977,068
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,431,099
Investment income
$150,951
Other revenue
$30,395,018
Total assets, end of year
$258,114,431
Total liabilities, end of year
$166,625,474
Net assets or fund balances, end of year
$91,488,957
Program services expenses (Part IX)
$32,977,068
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$32,977,068

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: GENERATION & TRANSMISSION PATRONA

    total $2,431,099 · related or exempt $2,431,099

  • 3 · Investment income

    total $150,951 · related or exempt $150,951

  • 10a · Gross sales of inventory

    $71,247,220

  • 10b · Cost of goods sold

    $45,060,181

  • 10c · Net income from sales of inventory

    total $26,187,039 · excluded $26,187,039

  • 11a · Other revenue: INTERNET/VOICE

    total $3,562,166 · related or exempt $3,562,166

  • 11b · Other revenue: GENERATOR - DEMAND MANAGEMENT

    total $645,813 · unrelated business $645,813

  • 11e · Other revenue, total

    $4,207,979

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $4,006,679 · program services $4,006,679

  • 5 · Compensation of officers, directors and key employees

    total $1,626,026 · program services $1,626,026

  • 7 · Other salaries and wages

    total $2,271,814 · program services $2,271,814

  • 8 · Pension plan contributions

    total $718,929 · program services $718,929

  • 9 · Other employee benefits

    total $818,075 · program services $818,075

  • 10 · Payroll taxes

    total $308,649 · program services $308,649

  • 11b · Fees: legal

    total $20,045 · program services $20,045

  • 11c · Fees: accounting

    total $26,561 · program services $26,561

  • 11g · Fees: other

    total $6,437,143 · program services $6,437,143

  • 12 · Advertising and promotion

    total $191,778 · program services $191,778

  • 13 · Office expenses

    total $1,595,924 · program services $1,595,924

  • 14 · Information technology

    total $573,203 · program services $573,203

  • 17 · Travel

    total $935,779 · program services $935,779

  • 19 · Conferences, conventions and meetings

    total $32,954 · program services $32,954

  • 20 · Interest

    total $2,566,429 · program services $2,566,429

  • 21 · Payments to affiliates

    total $201,555 · program services $201,555

  • 22 · Depreciation, depletion and amortization

    total $5,013,093 · program services $5,013,093

  • 23 · Insurance

    total $20,480 · program services $20,480

  • 24a · Other expenses: INTERNET/VOICE

    total $3,643,531 · program services $3,643,531

  • 24b · Other expenses: MISCELLANEOUS

    total $881,448 · program services $881,448

  • 24c · Other expenses: PROPERTY TAX

    total $566,000 · program services $566,000

  • 24d · Other expenses: UTILITY RECEIPTS TAX

    total $520,973 · program services $520,973

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year -$1

  • 2 · Savings and temporary cash investments

    beginning of year $6,089,361 · end of year $6,756,521

  • 4 · Accounts receivable

    beginning of year $46,744,024 · end of year $26,107,516

  • 8 · Inventories for sale or use

    beginning of year $13,918,483 · end of year $21,479,365

  • 9 · Prepaid expenses and deferred charges

    beginning of year $151,844 · end of year $141,107

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

    $190,961,966

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

    $40,553,668

  • 10c · Land, buildings and equipment, net

    beginning of year $129,992,605 · end of year $150,408,298

  • 13 · Investments: program-related

    beginning of year $32,150,405 · end of year $53,221,624

  • 17 · Accounts payable and accrued expenses

    beginning of year $56,406,414 · end of year $38,052,157

  • 19 · Deferred revenue

    beginning of year $1,231,230 · end of year $1,374,170

  • 24 · Unsecured notes and loans payable

    beginning of year $79,352,111 · end of year $123,899,425

  • 25 · Other liabilities

    beginning of year $4,114,891 · end of year $3,299,722

  • 29 · Capital stock, trust principal or current funds

    beginning of year $87,942,075 · end of year $91,488,957

  • 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 $0 · end of year $0

Mission and programs · 2022

Mission

THE CORPORATE PURPOSE OF SOUTHEASTERN INDIANA REMC SHALL BE TO RENDER SERVICE(S) TO IT'S MEMBERS. NO PERSON SHALL BECOME OR REMAIN A MEMBER OF THE COOPERATIVE UNLESS SUCH A PERSON SHALL PURCHASE ELECTRIC SUPPLIED BY THE COOPERATIVE AND SHALL HAVE COMPLIED WITH THE TERMS AND CONDITIONS OF MEMBERSHIP CONTAINED IN THE BYLAWS.

Activities or mission (Part I)

TO PROVIDE ELCTRIC SERVICE TO MEMBERS.

  • THE SALE AND DISTRIBUTION OF ELECTRICITY

    Expenses $32,977,068 · Revenue $32,977,068

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Jesse McClure

    DIRECTOR, SECRETARY

    Total calculated
    $13,150
    From this org
    $13,150
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Michael Thieman

    DIRECTOR, PRESIDENT

    Total calculated
    $16,900
    From this org
    $16,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Bradley Bentle

    DIRECTOR

    Total calculated
    $16,050
    From this org
    $16,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Casey Menchhofer

    DIRECTOR

    Total calculated
    $13,950
    From this org
    $13,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Melissa Menchhofer

    DIRECTOR

    Total calculated
    $17,650
    From this org
    $17,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Bonnie Boggs

    DIRECTOR

    Total calculated
    $14,300
    From this org
    $14,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Darrell Smith

    DIRECTOR

    Total calculated
    $13,900
    From this org
    $13,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • David Smith

    DIRECTOR

    Total calculated
    $14,300
    From this org
    $14,300
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Vince Moster

    DIRECTOR, TREASURER

    Total calculated
    $12,750
    From this org
    $12,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Bryan K Mathews

    GENERAL MANAGER

    Total calculated
    $403,430
    From this org
    $242,377
    From related orgs
    $0
    Other
    $161,053
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $237,913
    Bonus
    $0
    Other
    $4,464
    Deferred
    $131,719
    Nontaxable benefits
    $29,334
    Filer's total
    $403,430

  • James Buhler

    DIRECTOR OF FINANCE & ACCO

    Total calculated
    $209,106
    From this org
    $126,850
    From related orgs
    $0
    Other
    $82,256
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $124,283
    Bonus
    $0
    Other
    $2,567
    Deferred
    $51,047
    Nontaxable benefits
    $31,209
    Filer's total
    $209,106

  • Brandon Linville

    DIRECTOR OF OPERATIONS

    Total calculated
    $220,781
    From this org
    $137,502
    From related orgs
    $0
    Other
    $83,279
    Hours/week
    54

    Schedule J breakdown matched by us

    Base
    $134,261
    Bonus
    $0
    Other
    $3,241
    Deferred
    $56,494
    Nontaxable benefits
    $26,785
    Filer's total
    $220,781

  • Michael Summers

    DIRECTOR OF STAKING & ENGI

    Total calculated
    $198,708
    From this org
    $135,025
    From related orgs
    $0
    Other
    $63,683
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $131,767
    Bonus
    $0
    Other
    $3,258
    Deferred
    $40,685
    Nontaxable benefits
    $22,998
    Filer's total
    $198,708

  • Bryan Miller

    DIRECTOR OF IT AND KEY ACC

    Total calculated
    $204,841
    From this org
    $129,376
    From related orgs
    $0
    Other
    $75,465
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $126,808
    Bonus
    $0
    Other
    $2,568
    Deferred
    $47,284
    Nontaxable benefits
    $28,181
    Filer's total
    $204,841

  • Kendall Hankins

    DIRECTOR OF OFFICE SERVICES

    Total calculated
    $167,067
    From this org
    $123,052
    From related orgs
    $0
    Other
    $44,015
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $120,631
    Bonus
    $0
    Other
    $2,421
    Deferred
    $22,567
    Nontaxable benefits
    $21,448
    Filer's total
    $167,067

  • Brandon Keith

    LINEMAN

    Total calculated
    $167,964
    From this org
    $121,035
    From related orgs
    $0
    Other
    $46,929
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $119,114
    Bonus
    $0
    Other
    $1,921
    Deferred
    $16,762
    Nontaxable benefits
    $30,167
    Filer's total
    $167,964

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 · Independent compensation consultant

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SOUTHEASTERN INDIANA REMC COMMUNITY FUND INC

    OPERATION ROUND-UP · IN · assets $85,525

Provenance

Return type
form_990
Tax year
2022
Filed
10 May 2023
IRS schema version
2022v5.0
Source object
202311309349304726

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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