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Nonprofiteer
← NEWTON COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by NEWTON COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$7,419,160
Total expenses
$6,999,807
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$7,296,428
Investment income
$14,847
Other revenue
$107,885
Total assets, end of year
$12,170,497
Total liabilities, end of year
$4,194,004
Net assets or fund balances, end of year
$7,976,493
Program services expenses (Part IX)
$6,999,807
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$6,999,807

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: ELECTRIC SALES

    total $7,296,428 · related or exempt $7,296,428

  • 3 · Investment income

    total $5,347 · excluded $5,347

  • 7a · Gross sales of assets other than inventory

    securities $9,500

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

    securities $0

  • 7c · Gain or loss

    securities $9,500

  • 7d · Net gain or loss

    total $9,500 · related or exempt $9,500

  • 11a · Other revenue: PATRONAGE REVENUE

    total $107,885 · excluded $107,885

  • 11e · Other revenue, total

    $107,885

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $264,861 · program services $264,861

  • 20 · Interest

    total $149,262 · program services $149,262

  • 22 · Depreciation, depletion and amortization

    total $349,186 · program services $349,186

  • 24a · Other expenses: PURCHASED POWER

    total $5,083,570 · program services $5,083,570

  • 24b · Other expenses: OPERATIONS & MAINTENANC

    total $721,639 · program services $721,639

  • 24c · Other expenses: GENERAL & ADMINISTRATIV

    total $304,680 · program services $304,680

  • 24d · Other expenses: CONSUMER SERVICE

    total $125,094 · program services $125,094

  • 24e · All other expenses

    total $1,515 · program services $1,515

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $58,627 · end of year $96,287

  • 4 · Accounts receivable

    beginning of year $598,107 · end of year $683,549

  • 8 · Inventories for sale or use

    beginning of year $346,276 · end of year $330,590

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,016 · end of year $5,579

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

    $12,394,108

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

    $3,313,629

  • 10c · Land, buildings and equipment, net

    beginning of year $8,790,533 · end of year $9,080,479

  • 12 · Investments: other securities

    beginning of year $1,872,386 · end of year $1,956,662

  • 15 · Other assets

    beginning of year $27,488 · end of year $17,351

  • 17 · Accounts payable and accrued expenses

    beginning of year $689,948 · end of year $680,574

  • 24 · Unsecured notes and loans payable

    beginning of year $3,425,045 · end of year $3,505,855

  • 25 · Other liabilities

    beginning of year $8,850 · end of year $7,575

  • 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 $7,575,590 · end of year $7,976,493

Mission and programs · 2023

Mission

TO PROVIDE ELECTRICITY TO ITS MEMBERS/CUSTOMERS

Activities or mission (Part I)

THE SALE AND DISTRIBUTION OF ELECTRICITY

  • THE SALE AND DISTRIBUTION OF ELECTRICITY

    Expenses $6,999,807 · Revenue $7,296,428

As filed on the 2023 return.

Listed in Part VII

  • Rick Risley

    PRESIDENT

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.94

  • H Michael Cooley

    VICE PRESIDENT

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.9

  • Mark Jefvert

    SECRETARY/TREASURER

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.13

  • Brent Creek

    DIRECTOR

    Total calculated
    $4,750
    From this org
    $4,750
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.68

  • Brian Johnson

    DIRECTOR

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.28

  • H Scott Clark

    DIRECTOR

    Total calculated
    $2,000
    From this org
    $2,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.35

  • Kevin Durham

    DIRECTOR

    Total calculated
    $4,000
    From this org
    $4,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.16

  • Ronald Summers

    DIRECTOR

    Total calculated
    $1,200
    From this org
    $1,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    0.31

  • Brent Welsh

    GENERAL MANAGER

    Total calculated
    $145,888
    From this org
    $120,417
    From related orgs
    $0
    Other
    $25,471
    Hours/week
    40

  • Michel Sheets

    LINE SUPERINTENDENT

    Total calculated
    $141,447
    From this org
    $109,226
    From related orgs
    $0
    Other
    $32,221
    Hours/week
    41.82

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.

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
21 May 2024
IRS schema version
2023v5.0
Source object
202412349349300211

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