Skip to content
Nonprofiteer
← BOONE ELECTRIC COOPERATIVE

Form 990 for tax year 2024

Filed by BOONE ELECTRIC COOPERATIVE.

Totals

Total revenue
$76,383,296
Total expenses
$72,595,520
Contributions and grants received
$0
Grants paid
$58,675
Program service revenue
$76,081,293
Investment income
$302,003
Other revenue
$0
Total assets, end of year
$224,112,212
Total liabilities, end of year
$128,362,573
Net assets or fund balances, end of year
$95,749,639
Program services expenses (Part IX)
$72,595,520
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$72,595,520

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: Sales of Energy

    total $72,518,531 · related or exempt $72,518,531

  • 2b · Program service revenue: Capital Credits

    total $2,858,206 · related or exempt $2,858,206

  • 2c · Program service revenue: Other Electric Revenues

    total $675,205 · related or exempt $675,205

  • 2d · Program service revenue: Merchandising

    total $80,340 · related or exempt $80,340

  • 2e · Program service revenue: Non-Operating

    total -$50,989 · related or exempt -$50,989

  • 3 · Investment income

    total $234,506 · related or exempt $234,506

  • 7a · Gross sales of assets other than inventory

    other assets $68,731

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

    other assets $1,234

  • 7c · Gain or loss

    other assets $67,497

  • 7d · Net gain or loss

    total $67,497 · related or exempt $67,497

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $58,675 · program services $58,675

  • 4 · Benefits paid to or for members

    total $2,747,096 · program services $2,747,096

  • 5 · Compensation of officers, directors and key employees

    total $984,516 · program services $984,516

  • 20 · Interest

    total $5,159,625 · program services $5,159,625

  • 22 · Depreciation, depletion and amortization

    total $7,223,938 · program services $7,223,938

  • 24a · Other expenses: Cost of Purchased Power

    total $38,068,310 · program services $38,068,310

  • 24b · Other expenses: Distribution Exp-Mainte

    total $5,368,861 · program services $5,368,861

  • 24c · Other expenses: Distribution Exp-Operat

    total $5,001,203 · program services $5,001,203

  • 24d · Other expenses: Administrative and Gene

    total $4,721,044 · program services $4,721,044

  • 24e · All other expenses

    total $3,262,252 · program services $3,262,252

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,035,488 · end of year $4,430,139

  • 4 · Accounts receivable

    beginning of year $6,525,794 · end of year $6,547,341

  • 8 · Inventories for sale or use

    beginning of year $3,849,644 · end of year $3,625,920

  • 9 · Prepaid expenses and deferred charges

    beginning of year $141,720 · end of year $155,450

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

    $227,415,821

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

    $59,409,398

  • 10c · Land, buildings and equipment, net

    beginning of year $166,468,519 · end of year $168,006,423

  • 13 · Investments: program-related

    beginning of year $39,588,728 · end of year $41,346,939

  • 17 · Accounts payable and accrued expenses

    beginning of year $9,076,475 · end of year $9,232,193

  • 23 · Secured mortgages and notes payable

    beginning of year $117,391,644 · end of year $117,981,123

  • 25 · Other liabilities

    beginning of year $1,179,911 · end of year $1,149,257

  • 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 $91,961,863 · end of year $95,749,639

Mission and programs · 2024

Mission

The mission of Boone Electric Cooperative is to be responsive to our members' needs by providing a dependable supply of electric energy and other services at the lowest possible cost consistent with sound business practices and cooperative principles.

Activities or mission (Part I)

To provide electricity to our cooperative members

  • Retail sale of electricity to members, owners and consumers

    Expenses $72,595,520 · Grants $58,675 · Revenue $76,383,296

As filed on the 2024 return.

Listed in Part VII

  • Todd Culley

    CEO

    Total calculated
    $527,619
    From this org
    $356,797
    From related orgs
    $0
    Other
    $170,822
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $340,091
    Bonus
    $7,862
    Other
    $8,844
    Deferred
    $145,715
    Nontaxable benefits
    $25,107
    Filer's total
    $527,619

  • Vicki Kemna

    Assistant Manager

    Total calculated
    $396,253
    From this org
    $226,786
    From related orgs
    $0
    Other
    $169,467
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $206,803
    Bonus
    $6,616
    Other
    $13,367
    Deferred
    $145,321
    Nontaxable benefits
    $24,146
    Filer's total
    $396,253

  • Ryan Euliss

    CFO/Manager of Finance

    Total calculated
    $322,547
    From this org
    $206,988
    From related orgs
    $0
    Other
    $115,559
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $190,216
    Bonus
    $6,157
    Other
    $10,615
    Deferred
    $95,181
    Nontaxable benefits
    $20,378
    Filer's total
    $322,547

  • Andrew Petri

    Manager of Engineering and

    Total calculated
    $302,384
    From this org
    $192,012
    From related orgs
    $0
    Other
    $110,372
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $175,243
    Bonus
    $6,100
    Other
    $10,669
    Deferred
    $79,604
    Nontaxable benefits
    $30,768
    Filer's total
    $302,384

  • James Goodnight

    Operations Manager

    Total calculated
    $313,204
    From this org
    $177,805
    From related orgs
    $0
    Other
    $135,399
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $160,196
    Bonus
    $5,984
    Other
    $11,625
    Deferred
    $104,810
    Nontaxable benefits
    $30,589
    Filer's total
    $313,204

  • Laura Baker

    Mgr Member Svcs

    Total calculated
    $263,086
    From this org
    $153,002
    From related orgs
    $0
    Other
    $110,084
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $138,279
    Bonus
    $5,779
    Other
    $8,944
    Deferred
    $79,679
    Nontaxable benefits
    $30,405
    Filer's total
    $263,086

  • Travis Lynn

    Journeyman Lineman

    Total calculated
    $206,421
    From this org
    $143,480
    From related orgs
    $0
    Other
    $62,941
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $113,328
    Bonus
    $28,961
    Other
    $1,191
    Deferred
    $50,182
    Nontaxable benefits
    $12,759
    Filer's total
    $206,421

  • Travis Meyers

    Journeyman Lineman

    Total calculated
    $183,599
    From this org
    $140,113
    From related orgs
    $0
    Other
    $43,486
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $104,894
    Bonus
    $34,748
    Other
    $471
    Deferred
    $13,660
    Nontaxable benefits
    $29,826
    Filer's total
    $183,599

  • Robert Hawkins

    Line Foreman

    Total calculated
    $228,634
    From this org
    $139,045
    From related orgs
    $0
    Other
    $89,589
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $113,790
    Bonus
    $23,625
    Other
    $1,630
    Deferred
    $59,973
    Nontaxable benefits
    $29,616
    Filer's total
    $228,634

  • Jeffrey Marren

    Line Foreman

    Total calculated
    $199,009
    From this org
    $136,139
    From related orgs
    $0
    Other
    $62,870
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $98,893
    Bonus
    $36,170
    Other
    $1,076
    Deferred
    $32,967
    Nontaxable benefits
    $29,903
    Filer's total
    $199,009

  • Scott Douglas

    System Engineer

    Total calculated
    $164,565
    From this org
    $135,080
    From related orgs
    $0
    Other
    $29,485
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $128,961
    Bonus
    $2,905
    Other
    $3,214
    Deferred
    $16,499
    Nontaxable benefits
    $12,986
    Filer's total
    $164,565

  • Darin Schnarre

    Treasurer

    Total calculated
    $42,465
    From this org
    $42,465
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Andrew Stanton

    Director

    Total calculated
    $42,155
    From this org
    $42,155
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • John Bullard

    Director

    Total calculated
    $41,229
    From this org
    $41,229
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Kimberly Ponder

    President

    Total calculated
    $23,662
    From this org
    $23,662
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Michelle Motley

    Secretary

    Total calculated
    $16,111
    From this org
    $16,111
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Wayne Wilcox

    Vice President

    Total calculated
    $13,891
    From this org
    $13,891
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Timothy Hudspeth

    Director

    Total calculated
    $13,351
    From this org
    $13,351
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

  • Joel Bullard

    Director

    Total calculated
    $10,263
    From this org
    $10,263
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Maria Haag

    Director

    Total calculated
    $8,522
    From this org
    $8,522
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Caroline Andriano

    Director

    Total calculated
    $3,950
    From this org
    $3,950
    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

  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

Part I, Line 3
The Board of directors approves the salary of the CEO annually, based on market conditions and information about other electric cooperatives of similar size.

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

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.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Boone Electric Satellite Systems Inc

    C · Satellite Sales · MO · 100% owned · share of income -$66,262 · share of assets $2,299,484

  • Boone Electric Service Company

    C · Service Company · MO · 100% owned · share of assets $405

Provenance

Return type
form_990
Tax year
2024
Filed
23 April 2025
IRS schema version
2024v5.1
Source object
202541199349301009

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

The source document this was parsed from is served over the API, which is where bulk and document access live.