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Nonprofiteer
← DAVIESS-MARTIN COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2022

Filed by DAVIESS-MARTIN COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$39,754,758
Total expenses
$38,111,294
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$38,792,263
Investment income
$30,328
Other revenue
$932,167
Total assets, end of year
$61,548,405
Total liabilities, end of year
$24,411,461
Net assets or fund balances, end of year
$37,136,944
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$38,113,020

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 $38,778,011 · related or exempt $38,778,011

  • 2b · Program service revenue: STREET LIGHTING

    total $14,252 · related or exempt $14,252

  • 3 · Investment income

    total $24,359 · excluded $24,359

  • 7a · Gross sales of assets other than inventory

    other assets $7,969

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

    other assets $2,000

  • 7c · Gain or loss

    other assets $5,969

  • 7d · Net gain or loss

    total $5,969 · excluded $5,969

  • 10a · Gross sales of inventory

    $15,339

  • 10b · Cost of goods sold

    $23,550

  • 10c · Net income from sales of inventory

    total -$8,211 · unrelated business -$8,211

  • 11a · Other revenue: PATRONAGE CAPITAL

    total $940,378 · excluded $940,378

  • 11e · Other revenue, total

    $940,378

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $829,001

  • 11b · Fees: legal

    total $188,224

  • 20 · Interest

    total $436,179

  • 22 · Depreciation, depletion and amortization

    total $1,676,275

  • 24a · Other expenses: PURCHASED POWER

    total $28,954,311

  • 24b · Other expenses: MAINTENANCE

    total $3,052,012

  • 24c · Other expenses: OPERATIONS EXPENSE

    total $1,260,133

  • 24d · Other expenses: GENERAL AND ADMIN EXPEN

    total $811,020

  • 24e · All other expenses

    total $904,139

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $894,082 · end of year $3,952,037

  • 4 · Accounts receivable

    beginning of year $3,177,554 · end of year $3,521,598

  • 8 · Inventories for sale or use

    beginning of year $824,807 · end of year $1,116,104

  • 9 · Prepaid expenses and deferred charges

    beginning of year $141,149 · end of year $89,440

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

    $55,101,680

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

    $20,713,370

  • 10c · Land, buildings and equipment, net

    beginning of year $31,743,822 · end of year $34,388,310

  • 12 · Investments: other securities

    beginning of year $18,459,471 · end of year $18,453,169

  • 15 · Other assets

    beginning of year $176,128 · end of year $27,747

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,722,908 · end of year $7,390,009

  • 23 · Secured mortgages and notes payable

    beginning of year $11,039,342 · end of year $14,919,422

  • 25 · Other liabilities

    beginning of year $2,264,948 · end of year $2,102,030

  • 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 $37,389,815 · end of year $37,136,944

Mission and programs · 2022

Mission

TO PROVIDE DEPENDABLE ELECTRICITY AND QUALITY SERVICES FOR OUR MEMBERS AT REASONABLE COST.

Activities or mission (Part I)

TO PROVIDE DEPENDABLE ELECTRICITY AND QUALITY SERVICES FOR OUR MEMEMBERS AT REASONABLE COST

  • DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS

    Expenses $38,113,020 · Revenue $38,793,988

As filed on the 2022 return.

Listed in Part VII

  • Travis Summers

    PRESIDENT

    Total calculated
    $13,854
    From this org
    $13,848
    From related orgs
    $0
    Other
    $6
    Hours/week
    2.68

  • Brandt Schuckman

    VICE PRESIDENT

    Total calculated
    $11,191
    From this org
    $11,185
    From related orgs
    $0
    Other
    $6
    Hours/week
    3.6

  • Josh Dove

    TREASURER

    Total calculated
    $11,021
    From this org
    $11,015
    From related orgs
    $0
    Other
    $6
    Hours/week
    1.8

  • Amy Burris

    SECRETARY

    Total calculated
    $10,920
    From this org
    $10,914
    From related orgs
    $0
    Other
    $6
    Hours/week
    1.41

  • D Terry Chapman

    DIRECTOR

    Total calculated
    $17,780
    From this org
    $17,776
    From related orgs
    $0
    Other
    $4
    Hours/week
    4.62

  • John Edwards

    DIRECTOR

    Total calculated
    $11,078
    From this org
    $11,072
    From related orgs
    $0
    Other
    $6
    Hours/week
    8

  • August Bauer

    DIRECTOR

    Total calculated
    $21,215
    From this org
    $21,212
    From related orgs
    $0
    Other
    $3
    Hours/week
    1.56

  • Jane Bahler-Hurt

    CEO-RETIRED DURING YEAR

    Total calculated
    $213,599
    From this org
    $160,201
    From related orgs
    $0
    Other
    $53,398
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $160,201
    Bonus
    $0
    Other
    $0
    Deferred
    $24,503
    Nontaxable benefits
    $28,895
    Filer's total
    $213,599

  • Ryan Dant

    CEO

    Total calculated
    $170,951
    From this org
    $125,104
    From related orgs
    $0
    Other
    $45,847
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $125,104
    Bonus
    $0
    Other
    $0
    Deferred
    $17,672
    Nontaxable benefits
    $28,175
    Filer's total
    $170,951

  • Erica Worland

    CFO

    Total calculated
    $124,105
    From this org
    $84,104
    From related orgs
    $0
    Other
    $40,001
    Hours/week
    40

  • Tyler Bostock

    JOURNEY LINEMAN

    Total calculated
    $171,903
    From this org
    $137,710
    From related orgs
    $0
    Other
    $34,193
    Hours/week
    50.41

    Schedule J breakdown matched by us

    Base
    $137,710
    Bonus
    $0
    Other
    $0
    Deferred
    $8,497
    Nontaxable benefits
    $25,696
    Filer's total
    $171,903

  • Nathan Albright

    JOURNEY LINEMAN

    Total calculated
    $174,881
    From this org
    $136,634
    From related orgs
    $0
    Other
    $38,247
    Hours/week
    49.63

    Schedule J breakdown matched by us

    Base
    $136,634
    Bonus
    $0
    Other
    $0
    Deferred
    $12,551
    Nontaxable benefits
    $25,696
    Filer's total
    $174,881

  • Steve Emberton

    LINE FOREMAN

    Total calculated
    $176,240
    From this org
    $135,160
    From related orgs
    $0
    Other
    $41,080
    Hours/week
    50.76

    Schedule J breakdown matched by us

    Base
    $135,160
    Bonus
    $0
    Other
    $0
    Deferred
    $13,350
    Nontaxable benefits
    $27,730
    Filer's total
    $176,240

  • Alan Sims

    JOURNEY LINEMAN

    Total calculated
    $167,159
    From this org
    $128,912
    From related orgs
    $0
    Other
    $38,247
    Hours/week
    47.81

    Schedule J breakdown matched by us

    Base
    $128,912
    Bonus
    $0
    Other
    $0
    Deferred
    $12,551
    Nontaxable benefits
    $25,696
    Filer's total
    $167,159

  • Robert Murphy

    JOURNEY LINEMAN

    Total calculated
    $140,303
    From this org
    $118,308
    From related orgs
    $0
    Other
    $21,995
    Hours/week
    45.67

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 · 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
2022
Filed
8 August 2023
IRS schema version
2022v5.0
Source object
202302339349301065

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