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Nonprofiteer
← DARKE RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2023

Filed by DARKE RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$18,787,119
Total expenses
$18,787,119
Contributions and grants received
$0
Grants paid
$6,000
Program service revenue
$17,970,232
Investment income
$56,149
Other revenue
$760,738
Total assets, end of year
$43,931,933
Total liabilities, end of year
$24,632,117
Net assets or fund balances, end of year
$19,299,816
Program services expenses (Part IX)
$18,787,119
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$18,787,119

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: SALE OF ELECTRICITY

    total $17,970,232 · related or exempt $17,970,232 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $56,149 · related or exempt $56,149 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $27,720 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $27,720 · personal property $0

  • 6d · Net rental income or loss

    total $27,720 · related or exempt $27,720 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: PATRONAGE CAPITAL

    total $621,059 · related or exempt $621,059 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $111,959 · related or exempt $111,959 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $733,018

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $6,000 · program services $6,000

  • 4 · Benefits paid to or for members

    total $1,572,905 · program services $1,572,905

  • 5 · Compensation of officers, directors and key employees

    total $951,855 · program services $951,855

  • 6 · Compensation of disqualified persons

    total $0 · program services $0

  • 7 · Other salaries and wages

    total $948,737 · program services $948,737

  • 8 · Pension plan contributions

    total $290,090 · program services $290,090

  • 9 · Other employee benefits

    total $191,282 · program services $191,282

  • 10 · Payroll taxes

    total $283,881 · program services $283,881

  • 11a · Fees: management

    total $0 · program services $0

  • 11b · Fees: legal

    total $400 · program services $400

  • 11c · Fees: accounting

    total $25,142 · program services $25,142

  • 11d · Fees: lobbying

    total $0 · program services $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0

  • 11g · Fees: other

    total $0 · program services $0

  • 12 · Advertising and promotion

    total $0 · program services $0

  • 13 · Office expenses

    total $63,561 · program services $63,561

  • 14 · Information technology

    total $225,636 · program services $225,636

  • 15 · Royalties

    total $0 · program services $0

  • 16 · Occupancy

    total $0 · program services $0

  • 17 · Travel

    total $0 · program services $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0

  • 20 · Interest

    total $721,463 · program services $721,463

  • 21 · Payments to affiliates

    total $0 · program services $0

  • 22 · Depreciation, depletion and amortization

    total $1,162,176 · program services $1,162,176

  • 23 · Insurance

    total $0 · program services $0

  • 24a · Other expenses: PURCHASED POWER

    total $10,666,985 · program services $10,666,985 · management and general $0 · fundraising $0

  • 24b · Other expenses: KWH CONSUMPTION TAX

    total $555,693 · program services $555,693 · management and general $0 · fundraising $0

  • 24c · Other expenses: OPERATING & MAINTENANCE EXP

    total $1,057,714 · program services $1,057,714 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $63,599 · program services $63,599

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,000 · end of year $10,000

  • 2 · Savings and temporary cash investments

    beginning of year $680,689 · end of year $613,051

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $1,336,572 · end of year $1,453,295

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $564,788 · end of year $839,579

  • 9 · Prepaid expenses and deferred charges

    beginning of year $107,156 · end of year $120,083

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

    $41,569,932

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

    $9,494,777

  • 10c · Land, buildings and equipment, net

    beginning of year $31,395,742 · end of year $32,075,155

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $7,770,376 · end of year $7,938,286

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $796,727 · end of year $882,484

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,129,954 · end of year $2,028,010

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $21,921,786 · end of year $22,604,107

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $43,820 · end of year $43,840

  • 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 $18,566,490 · end of year $19,255,976

Mission and programs · 2023

Mission

TO PROVIDE SAFE, AFFORDABLE AND RELIABLE ELECTRIC TO THE RURAL AREAS OF DARKE, PREBLE AND MERCER COUNTIES IN OHIO.

Activities or mission (Part I)

DARKE RURAL ELECTRIC COOPERATIVE, INC. IS AN ELECTRIC COOPERATIVE, PROVIDING ELECTRIC SERVICE TO OVER 4,370 MEMBERS IN DARKE, PREBLE AND MERCER COUNTIES IN OHIO.

  • TO PROVIDE SAFE, AFFORDABLE AND RELIABLE ELECTRIC TO THE RURAL AREAS OF DARKE, PREBLE AND MERCER COUNTIES IN OHIO

    Expenses $18,787,119

As filed on the 2023 return.

Listed in Part VII

  • John Blinn

    LINE FOREMAN

    Total calculated
    $222,109
    From this org
    $132,126
    From related orgs
    $0
    Other
    $89,983
    Hours/week
    45.2

    Schedule J breakdown matched by us

    Base
    $120,821
    Bonus
    $1,717
    Other
    $9,588
    Deferred
    $87,293
    Nontaxable benefits
    $2,690
    Filer's total
    $222,109

  • Ted Holsapple

    CEO

    Total calculated
    $218,988
    From this org
    $170,199
    From related orgs
    $0
    Other
    $48,789
    Hours/week
    44.7

    Schedule J breakdown matched by us

    Base
    $157,658
    Bonus
    $1,703
    Other
    $10,838
    Deferred
    $45,252
    Nontaxable benefits
    $3,537
    Filer's total
    $218,988

  • Bruce Burke

    DIRECTOR OF ENGINEERING/IT

    Total calculated
    $174,657
    From this org
    $111,353
    From related orgs
    $0
    Other
    $63,304
    Hours/week
    44.7

    Schedule J breakdown matched by us

    Base
    $109,636
    Bonus
    $1,717
    Other
    $0
    Deferred
    $36,985
    Nontaxable benefits
    $26,319
    Filer's total
    $174,657

  • Brad Flora

    CFO

    Total calculated
    $168,014
    From this org
    $125,560
    From related orgs
    $0
    Other
    $42,454
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $114,273
    Bonus
    $1,717
    Other
    $9,570
    Deferred
    $38,906
    Nontaxable benefits
    $3,548
    Filer's total
    $168,014

  • Niles Swank

    DIRECTOR OF OPERATIONS

    Total calculated
    $158,810
    From this org
    $126,015
    From related orgs
    $0
    Other
    $32,795
    Hours/week
    40.4

    Schedule J breakdown matched by us

    Base
    $116,498
    Bonus
    $1,717
    Other
    $7,800
    Deferred
    $29,606
    Nontaxable benefits
    $3,189
    Filer's total
    $158,810

  • Michael Fenstermaker

    LINEMAN

    Total calculated
    $151,180
    From this org
    $115,163
    From related orgs
    $0
    Other
    $36,017
    Hours/week
    44.2

    Schedule J breakdown matched by us

    Base
    $109,771
    Bonus
    $1,717
    Other
    $3,675
    Deferred
    $21,461
    Nontaxable benefits
    $14,556
    Filer's total
    $151,180

  • Tyler Goettemoeller

    LINEMAN

    Total calculated
    $139,935
    From this org
    $119,479
    From related orgs
    $0
    Other
    $20,456
    Hours/week
    44.9

    Schedule J breakdown matched by us

    Base
    $113,526
    Bonus
    $1,717
    Other
    $4,236
    Deferred
    $10,975
    Nontaxable benefits
    $9,481
    Filer's total
    $139,935

  • Tod Carroll

    VICE PRESIDENT BOARD OF TRUSTEES

    Total calculated
    $9,390
    From this org
    $9,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • David Coons

    TRUSTEE

    Total calculated
    $8,515
    From this org
    $8,515
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Matt Webster

    PRESIDENT BOARD OF TRUSTEES

    Total calculated
    $8,380
    From this org
    $8,380
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Michelle Marker

    SECRETARY & TREASURER BOARD OF TRUSTEES

    Total calculated
    $7,805
    From this org
    $7,805
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Robert Godown

    TRUSTEE

    Total calculated
    $7,790
    From this org
    $7,790
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Aaron Siefring

    TRUSTEE

    Total calculated
    $5,790
    From this org
    $5,790
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Stephen Vanzant

    TRUSTEE

    Total calculated
    $4,290
    From this org
    $4,290
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

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
2023
Filed
1 May 2024
IRS schema version
2023v5.0
Source object
202441229349302424

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