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Nonprofiteer
← MOUNTAIN RURAL TELEPHONE COOPERATIVE CORPORATION

Form 990 for tax year 2024

Filed by MOUNTAIN RURAL TELEPHONE COOPERATIVE CORPORATION.

Totals

Total revenue
$34,435,273
Total expenses
$34,435,273
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$30,754,653
Investment income
$1,529,388
Other revenue
$2,151,232
Total assets, end of year
$152,685,480
Total liabilities, end of year
$8,432,169
Net assets or fund balances, end of year
$144,253,311
Program services expenses (Part IX)
$34,435,273
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$34,435,273

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: LOCAL TOLL AND INTERNET

    total $20,676,592 · related or exempt $20,676,592

  • 2b · Program service revenue: ACCESS REVENUE

    total $10,078,061 · related or exempt $10,078,061

  • 3 · Investment income

    total $1,529,388 · excluded $1,529,388

  • 10a · Gross sales of inventory

    $155,639

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $155,639 · related or exempt $155,639

  • 11a · Other revenue: WHOLLY OWNED SUBSIDIARY

    total $1,419,716 · excluded $1,419,716

  • 11b · Other revenue: INTEREST ON NOTIONAL ACCT

    total $518,254 · excluded $518,254

  • 11c · Other revenue: DIRECTORY ADVERTISING

    total $51,584 · related or exempt $31,982 · unrelated business $19,602

  • 11d · All other revenue

    total $6,039 · excluded $6,039

  • 11e · Other revenue, total

    $1,995,593

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $7,208,452 · program services $7,208,452

  • 5 · Compensation of officers, directors and key employees

    total $736,411 · program services $736,411

  • 7 · Other salaries and wages

    total $4,839,680 · program services $4,839,680

  • 8 · Pension plan contributions

    total $829,997 · program services $829,997

  • 9 · Other employee benefits

    total $4,040,938 · program services $4,040,938

  • 10 · Payroll taxes

    total $430,294 · program services $430,294

  • 11b · Fees: legal

    total $31,900 · program services $31,900

  • 11c · Fees: accounting

    total $19,608 · program services $19,608

  • 20 · Interest

    total $102,735 · program services $102,735

  • 22 · Depreciation, depletion and amortization

    total $6,209,884 · program services $6,209,884

  • 23 · Insurance

    total $218,212 · program services $218,212

  • 24a · Other expenses: NONREGULATED EXPENSES

    total $9,459,151 · program services $9,459,151

  • 24b · Other expenses: PLANT SPECIFIC

    total $4,370,781 · program services $4,370,781

  • 24c · Other expenses: CORPORATE OPERATIONS

    total $2,564,656 · program services $2,564,656

  • 24d · Other expenses: PLANT NONSPECIFIC

    total $2,438,852 · program services $2,438,852

  • 24e · All other expenses

    total -$9,066,278 · program services -$9,066,278

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $21,848,564 · end of year $19,668,365

  • 2 · Savings and temporary cash investments

    beginning of year $16,715,060 · end of year $16,921,797

  • 4 · Accounts receivable

    beginning of year $275,198 · end of year $194,288

  • 8 · Inventories for sale or use

    beginning of year $3,059,700 · end of year $3,299,835

  • 9 · Prepaid expenses and deferred charges

    beginning of year $31,583 · end of year $41,134

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

    $152,957,134

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

    $100,377,837

  • 10c · Land, buildings and equipment, net

    beginning of year $48,500,940 · end of year $52,579,297

  • 15 · Other assets

    beginning of year $57,781,994 · end of year $59,980,764

  • 17 · Accounts payable and accrued expenses

    beginning of year $934,606 · end of year $1,684,718

  • 23 · Secured mortgages and notes payable

    beginning of year $4,527,374 · end of year $4,093,337

  • 25 · Other liabilities

    beginning of year $2,609,924 · end of year $2,654,114

  • 29 · Capital stock, trust principal or current funds

    beginning of year $146,722 · end of year $155,777

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year -$3,968,858 · end of year -$3,507,163

  • 31 · Retained earnings, endowment or other funds

    beginning of year $143,963,271 · end of year $147,604,697

Mission and programs · 2024

Mission

PROVIDE TELEPHONE SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE APPROXIMATELY 12,500 CUSTOMERS MONTHLY.

  • PROVIDE TELEPHONE SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE APPROXIMATELY 12,500 CUSTOMERS MONTHLY.

    Expenses $34,435,273 · Revenue $30,942,274

As filed on the 2024 return.

Listed in Part VII

  • Jimmie Jones

    PRESIDENT

    Total calculated
    $28,400
    From this org
    $28,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Katie Ison

    VICE PRESIDENT

    Total calculated
    $20,400
    From this org
    $20,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Jodi Lawson

    SECRETARY

    Total calculated
    $24,900
    From this org
    $24,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Susan Lynn Cable

    TREASURER

    Total calculated
    $25,900
    From this org
    $25,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Christopher Dickerson

    DIRECTOR

    Total calculated
    $20,100
    From this org
    $20,100
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jackie Howard

    DIRECTOR

    Total calculated
    $22,400
    From this org
    $22,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Robert Bradley

    DIRECTOR

    Total calculated
    $26,400
    From this org
    $26,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Randy Halsey

    DIRECTOR

    Total calculated
    $16,400
    From this org
    $16,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • John M Helton

    DIRECTOR

    Total calculated
    $26,400
    From this org
    $26,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • John Nickell

    DIRECTOR

    Total calculated
    $17,900
    From this org
    $17,900
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Ronnie Ison

    CEO/GM

    Total calculated
    $385,847
    From this org
    $302,009
    From related orgs
    $0
    Other
    $83,838
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $302,009
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $83,838
    Filer's total
    $385,847

  • Billy Quentin Murphy

    ASST GENERAL MANAGER

    Total calculated
    $234,745
    From this org
    $173,302
    From related orgs
    $0
    Other
    $61,443
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $173,302
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $61,443
    Filer's total
    $234,745

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 · Written employment contract
  • 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.

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.

  • MOUNTAIN TELE-COMMUNICATIONS

    C · CELLULAR INVESTMENT · KY · 100% owned · share of income $1,419,716 · share of assets $55,051,809

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2025
IRS schema version
2024v5.1
Source object
202541359349314354

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