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← SOUTHEASTERN INDIANA RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by SOUTHEASTERN INDIANA RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$37,900,762
Total expenses
$37,900,762
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$2,172,951
Investment income
$101,721
Other revenue
$35,626,090
Total assets, end of year
$328,848,798
Total liabilities, end of year
$229,869,941
Net assets or fund balances, end of year
$98,978,857
Program services expenses (Part IX)
$37,900,762
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$37,900,762

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: G&T PATRONAGE

    total $2,172,951 · related or exempt $2,172,951

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

    total $101,721 · related or exempt $101,721

  • 10a · Gross sales of inventory

    $72,635,482

  • 10b · Cost of goods sold

    $47,007,790

  • 10c · Net income from sales of inventory

    total $25,627,692 · excluded $25,627,692

  • 11a · Other revenue: INTERNET/VOICE

    total $9,478,126 · excluded $9,478,126

  • 11b · Other revenue: GENERATORS - DEMAND MGT

    total $520,272 · unrelated business $520,272

  • 11e · Other revenue, total

    $9,998,398

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $2,761,781 · program services $2,761,781

  • 5 · Compensation of officers, directors and key employees

    total $1,837,653 · program services $1,837,653

  • 7 · Other salaries and wages

    total $2,814,665 · program services $2,814,665

  • 8 · Pension plan contributions

    total $751,501 · program services $751,501

  • 9 · Other employee benefits

    total $888,550 · program services $888,550

  • 10 · Payroll taxes

    total $309,151 · program services $309,151

  • 11b · Fees: legal

    total $20,047 · program services $20,047

  • 11c · Fees: accounting

    total $31,200 · program services $31,200

  • 11g · Fees: other

    total $5,693,150 · program services $5,693,150

  • 12 · Advertising and promotion

    total $229,976 · program services $229,976

  • 13 · Office expenses

    total $763,193 · program services $763,193

  • 14 · Information technology

    total $528,023 · program services $528,023

  • 17 · Travel

    total $1,240,970 · program services $1,240,970

  • 19 · Conferences, conventions and meetings

    total $131,004 · program services $131,004

  • 20 · Interest

    total $3,676,188 · program services $3,676,188

  • 21 · Payments to affiliates

    total $216,701 · program services $216,701

  • 22 · Depreciation, depletion and amortization

    total $5,665,407 · program services $5,665,407

  • 23 · Insurance

    total $21,827 · program services $21,827

  • 24a · Other expenses: INTERNET/VOICE

    total $9,387,451 · program services $9,387,451

  • 24b · Other expenses: TAXES (PROPERTY/OTHER)

    total $559,969 · program services $559,969

  • 24c · Other expenses: MISCELLANEOUS

    total $372,355 · program services $372,355

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,976,699 · end of year $3,768,722

  • 4 · Accounts receivable

    beginning of year $35,768,617 · end of year $32,193,597

  • 8 · Inventories for sale or use

    beginning of year $22,437,334 · end of year $5,053,757

  • 9 · Prepaid expenses and deferred charges

    beginning of year $152,591 · end of year $172,749

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

    $300,557,699

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

    $47,311,780

  • 10c · Land, buildings and equipment, net

    beginning of year $215,640,154 · end of year $253,245,919

  • 13 · Investments: program-related

    beginning of year $33,593,843 · end of year $34,464,054

  • 15 · Other assets

    beginning of year $0 · end of year -$50,000

  • 17 · Accounts payable and accrued expenses

    beginning of year $59,433,308 · end of year $45,079,353

  • 19 · Deferred revenue

    beginning of year $1,930,143 · end of year $1,876,655

  • 24 · Unsecured notes and loans payable

    beginning of year $149,073,008 · end of year $179,975,313

  • 25 · Other liabilities

    beginning of year $3,274,370 · end of year $2,938,620

  • 29 · Capital stock, trust principal or current funds

    beginning of year $95,858,409 · end of year $98,978,857

  • 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 $0 · end of year $0

Mission and programs · 2024

Mission

THE CORPORATE PURPOSE OF SOUTHEASTERN INDIANA REMC SHALL BE TO RENDER SERVICE(S) TO ITS MEMBERS. NO PERSON SHALL BECOME OR REMAIN A MEMBER OF THE COOPERATIVE UNLESS SUCH PERSON SHALL PURCHASE ELECTRIC SUPPLIED BY THE COOPERATIVE AND SHALL HAVE COMPLIED WITH THE TERMS AND CONDITIONS OF MEMBERSHIP CONTAINED IN THE BYLAWS.

Activities or mission (Part I)

TO PROVIDE ELECTRIC AND BROADBAND SERVICE TO MEMBERS.

  • THE SALE AND DISTRIBUTION OF ELECTRICITY TO PROVIDE BROADBAND SERVICE.

    Expenses $37,900,762 · Revenue $37,900,762

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Melissa Menchhofer

    DIRECTOR

    Total calculated
    $19,600
    From this org
    $19,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Bradley Bentle

    DIRECTOR, VICE PRESIDENT

    Total calculated
    $18,800
    From this org
    $18,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Vince Moster

    DIRECTOR

    Total calculated
    $18,800
    From this org
    $18,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Sherry Shaw

    DIRECTOR

    Total calculated
    $16,000
    From this org
    $16,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • David Smith

    DIRECTOR

    Total calculated
    $15,600
    From this org
    $15,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

  • Casey Menchhofer

    DIRECTOR, SECRETARY

    Total calculated
    $15,200
    From this org
    $15,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Michale W Thieman

    DIRECTOR

    Total calculated
    $15,200
    From this org
    $15,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Darrell Smith

    DIRECTOR, PRESIDENT

    Total calculated
    $14,800
    From this org
    $14,800
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Jesse McClure

    DIRECTOR, TREASURER

    Total calculated
    $14,400
    From this org
    $14,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    6

  • Bryan K Mathews

    CHIEF EXECUTIVE OFFICER (CEO)

    Total calculated
    $465,236
    From this org
    $302,626
    From related orgs
    $0
    Other
    $162,610
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $302,626
    Bonus
    $0
    Other
    $0
    Deferred
    $130,070
    Nontaxable benefits
    $32,540
    Filer's total
    $465,236

  • James B Buhler

    CHIEF FINANCIAL OFFICER (CF0)

    Total calculated
    $212,082
    From this org
    $139,585
    From related orgs
    $0
    Other
    $72,497
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $139,585
    Bonus
    $0
    Other
    $0
    Deferred
    $38,554
    Nontaxable benefits
    $33,943
    Filer's total
    $212,082

  • Brandon Linville

    VICE PRESIDENT OF OPERATIONS

    Total calculated
    $217,705
    From this org
    $149,495
    From related orgs
    $0
    Other
    $68,210
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $149,495
    Bonus
    $0
    Other
    $0
    Deferred
    $37,208
    Nontaxable benefits
    $31,002
    Filer's total
    $217,705

  • Michael J Summers

    VICE PRESIDENT OF DESIGN AND ENGINEERING

    Total calculated
    $196,805
    From this org
    $149,944
    From related orgs
    $0
    Other
    $46,861
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $149,944
    Bonus
    $0
    Other
    $0
    Deferred
    $30,168
    Nontaxable benefits
    $16,693
    Filer's total
    $196,805

  • Bryan D Miller

    VICE PRESIDENT OF I.T. AND DIVERSIFIED SRVC

    Total calculated
    $209,399
    From this org
    $143,314
    From related orgs
    $0
    Other
    $66,085
    Hours/week
    43

    Schedule J breakdown matched by us

    Base
    $143,314
    Bonus
    $0
    Other
    $0
    Deferred
    $35,732
    Nontaxable benefits
    $30,353
    Filer's total
    $209,399

  • James K Hankins

    VICE PRESIDENT OF OFFICE SERVICES

    Total calculated
    $179,843
    From this org
    $138,010
    From related orgs
    $0
    Other
    $41,833
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $138,010
    Bonus
    $0
    Other
    $0
    Deferred
    $17,385
    Nontaxable benefits
    $24,448
    Filer's total
    $179,843

  • Betty J Myers

    VICE PRESIDENT OF COMM & CREATIVE SRVCS

    Total calculated
    $242,982
    From this org
    $135,620
    From related orgs
    $0
    Other
    $107,362
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $135,620
    Bonus
    $0
    Other
    $0
    Deferred
    $79,364
    Nontaxable benefits
    $27,998
    Filer's total
    $242,982

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 · Independent compensation consultant

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SOUTHEASTERN INDIANA REMC COMMUNITY FUND INC

    OPERATION ROUND-UP · IN · assets $70,751

Provenance

Return type
form_990
Tax year
2024
Filed
14 May 2025
IRS schema version
2024v5.1
Source object
202541349349301949

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