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Nonprofiteer
← NORTHEASTERN RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2023

Filed by NORTHEASTERN RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$122,357,885
Total expenses
$118,061,718
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$121,664,832
Investment income
$155,792
Other revenue
$537,261
Total assets, end of year
$181,557,259
Total liabilities, end of year
$114,571,365
Net assets or fund balances, end of year
$66,985,894
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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: PROGRAM SERVICE REVENUE

    total $121,664,832 · related or exempt $121,664,832

  • 3 · Investment income

    total $51,177 · excluded $51,177

  • 7a · Gross sales of assets other than inventory

    other assets $112,705

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

    other assets $8,090

  • 7c · Gain or loss

    other assets $104,615

  • 7d · Net gain or loss

    total $104,615 · excluded $104,615

  • 10a · Gross sales of inventory

    $1,150

  • 10b · Cost of goods sold

    $616

  • 10c · Net income from sales of inventory

    total $534 · excluded $534

  • 11a · Other revenue: PATRONAGE ALLOCATIONS

    total $332,020 · excluded $332,020

  • 11b · Other revenue: FORFEITED DISCOUNTS

    total $201,213 · excluded $201,213

  • 11c · Other revenue: MISCELLANEOUS INCOME

    total $3,494 · excluded $3,494

  • 11e · Other revenue, total

    $536,727

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $610,242

  • 7 · Other salaries and wages

    total $3,823,932

  • 8 · Pension plan contributions

    total $674,716

  • 9 · Other employee benefits

    total $674,274

  • 10 · Payroll taxes

    total $316,408

  • 11b · Fees: legal

    total $34,150

  • 11c · Fees: accounting

    total $24,450

  • 11g · Fees: other

    total $42,030

  • 12 · Advertising and promotion

    total $44,353

  • 13 · Office expenses

    total $655,896

  • 14 · Information technology

    total $251,980

  • 20 · Interest

    total $3,785,045

  • 22 · Depreciation, depletion and amortization

    total $7,058,454

  • 23 · Insurance

    total $272,877

  • 24a · Other expenses: PURCHASED POWER

    total $94,108,186

  • 24b · Other expenses: MAINTENANCE

    total $2,265,349

  • 24c · Other expenses: OPERATIONS

    total $1,423,544

  • 24d · Other expenses: OTHER DEDUCTIONS

    total $1,400,046

  • 24e · All other expenses

    total $595,786

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $694,910 · end of year $640,634

  • 4 · Accounts receivable

    beginning of year $12,175,450 · end of year $12,137,036

  • 8 · Inventories for sale or use

    beginning of year $3,502,114 · end of year $3,722,076

  • 9 · Prepaid expenses and deferred charges

    beginning of year $6,962,243 · end of year $2,998,845

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

    $231,749,365

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

    $84,327,309

  • 10c · Land, buildings and equipment, net

    beginning of year $131,940,435 · end of year $147,422,056

  • 12 · Investments: other securities

    beginning of year $13,497,260 · end of year $13,590,432

  • 15 · Other assets

    beginning of year $1,056,548 · end of year $1,046,180

  • 17 · Accounts payable and accrued expenses

    beginning of year $19,352,909 · end of year $21,599,724

  • 23 · Secured mortgages and notes payable

    beginning of year $79,390,931 · end of year $86,502,777

  • 25 · Other liabilities

    beginning of year $7,329,133 · end of year $6,468,864

  • 31 · Retained earnings, endowment or other funds

    beginning of year $63,755,987 · end of year $66,985,894

Mission and programs · 2023

Mission

ELECTRIC DISTRIBUTION COOPERATIVE DELIVERING ELECTRICITY IN PARTS OF SIX INDIANA COUNTIES; WHITLEY, ALLEN, HUNTINGTON, WABASH, NOBLE AND KOSCIUSKO.

  • DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS

As filed on the 2023 return.

Listed in Part VII

  • Eric Jung

    PRESIDENT &

    Total calculated
    $454,742
    From this org
    $353,214
    From related orgs
    $0
    Other
    $101,528
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $353,214
    Bonus
    not reported
    Other
    not reported
    Deferred
    $67,915
    Nontaxable benefits
    $33,613
    Filer's total
    $454,742

  • Teresa J Merryman

    VP MEMBER SE

    Total calculated
    $199,754
    From this org
    $140,989
    From related orgs
    $0
    Other
    $58,765
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $140,989
    Bonus
    not reported
    Other
    not reported
    Deferred
    $29,131
    Nontaxable benefits
    $29,634
    Filer's total
    $199,754

  • James Eitsert

    VP DISTRIBUT

    Total calculated
    $238,146
    From this org
    $184,774
    From related orgs
    $0
    Other
    $53,372
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $184,774
    Bonus
    not reported
    Other
    not reported
    Deferred
    $36,730
    Nontaxable benefits
    $16,642
    Filer's total
    $238,146

  • Scott I Snyder

    LINE FOREMAN

    Total calculated
    $195,441
    From this org
    $143,700
    From related orgs
    $0
    Other
    $51,741
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $143,700
    Bonus
    not reported
    Other
    not reported
    Deferred
    $27,204
    Nontaxable benefits
    $24,537
    Filer's total
    $195,441

  • Audra Uher

    CFO

    Total calculated
    $233,691
    From this org
    $171,009
    From related orgs
    $0
    Other
    $62,682
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $171,009
    Bonus
    not reported
    Other
    not reported
    Deferred
    $32,718
    Nontaxable benefits
    $29,964
    Filer's total
    $233,691

  • Robert Higgins

    CHAIR

    Total calculated
    $15,950
    From this org
    $15,950
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.8

  • Douglas Schrader

    V. CHAIR

    Total calculated
    $16,400
    From this org
    $16,200
    From related orgs
    $200
    Other
    $0
    Hours/week
    2.3

  • Ingrid Tippmann Nicholson

    SECRETARY

    Total calculated
    $22,200
    From this org
    $22,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.7

  • Thomas Western

    TREASURER

    Total calculated
    $14,900
    From this org
    $14,700
    From related orgs
    $200
    Other
    $0
    Hours/week
    2.2

  • Joseph Kruyer

    BOARD MEMBER

    Total calculated
    $18,450
    From this org
    $18,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.6

  • Cathy Egolf

    BOARD MEMBER

    Total calculated
    $20,550
    From this org
    $20,550
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.8

  • Erik Linnemeier

    BOARD MEMBER

    Total calculated
    $17,400
    From this org
    $17,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2

  • Jeremy McClish

    BOARD MEMBER

    Total calculated
    $15,200
    From this org
    $15,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.6

  • Gary Gorrell

    BOARD MEMBER

    Total calculated
    $14,850
    From this org
    $14,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

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 committee
  • 3 · Independent compensation consultant
  • 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.

  • CUSTOMER CHOICE SERVICES CORP

    C CORP · R.E. DEVEL · IN · 100% owned · share of income $87,261 · share of assets $554,304

Provenance

Return type
form_990
Tax year
2023
Filed
20 August 2024
IRS schema version
2023v5.0
Source object
202432409349300708

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