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Nonprofiteer
← LAGRANGE COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2022

Filed by LAGRANGE COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$14,349,360
Total expenses
$14,088,193
Contributions and grants received
$0
Grants paid
$8,660
Program service revenue
$13,457,460
Investment income
$17,331
Other revenue
$874,569
Total assets, end of year
$50,097,597
Total liabilities, end of year
$32,649,427
Net assets or fund balances, end of year
$17,448,170
Program services expenses (Part IX)
$14,088,193
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

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: OPERATING REVENUE

    total $13,457,460 · related or exempt $13,457,460

  • 3 · Investment income

    total $17,573 · excluded $17,573

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

    other assets $242

  • 7c · Gain or loss

    other assets -$242

  • 7d · Net gain or loss

    total -$242 · excluded -$242

  • 11a · Other revenue: PATRONAGE REVENUE

    total $775,111 · excluded $775,111

  • 11b · Other revenue: RENT FROM ELECTRIC PROPER

    total $96,139 · excluded $96,139

  • 11c · Other revenue: MISCELLANEOUS INCOME

    total $3,319 · excluded $3,319

  • 11e · Other revenue, total

    $874,569

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $8,660 · program services $8,660

  • 4 · Benefits paid to or for members

    total $7,130 · program services $7,130

  • 5 · Compensation of officers, directors and key employees

    total $312,124 · program services $312,124

  • 7 · Other salaries and wages

    total $1,299,586 · program services $1,299,586

  • 8 · Pension plan contributions

    total $236,020 · program services $236,020

  • 9 · Other employee benefits

    total $316,955 · program services $316,955

  • 10 · Payroll taxes

    total $115,993 · program services $115,993

  • 11b · Fees: legal

    total $42,711 · program services $42,711

  • 11c · Fees: accounting

    total $20,500 · program services $20,500

  • 11g · Fees: other

    total $16,945 · program services $16,945

  • 12 · Advertising and promotion

    total $13,485 · program services $13,485

  • 13 · Office expenses

    total $116,475 · program services $116,475

  • 14 · Information technology

    total $185,336 · program services $185,336

  • 19 · Conferences, conventions and meetings

    total $24,339 · program services $24,339

  • 20 · Interest

    total $316,427 · program services $316,427

  • 22 · Depreciation, depletion and amortization

    total $1,129,459 · program services $1,129,459

  • 23 · Insurance

    total $98,399 · program services $98,399

  • 24a · Other expenses: COST OF POWER

    total $7,521,497 · program services $7,521,497

  • 24b · Other expenses: OPERATIONS

    total $854,542 · program services $854,542

  • 24c · Other expenses: ADMINISTRATIVE

    total $698,570 · program services $698,570

  • 24d · Other expenses: MAINTENANCE DISTRIBUTION

    total $305,037 · program services $305,037

  • 24e · All other expenses

    total $448,003 · program services $448,003

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,137,608 · end of year $766,447

  • 4 · Accounts receivable

    beginning of year $908,220 · end of year $1,060,638

  • 8 · Inventories for sale or use

    beginning of year $3,217,327 · end of year $4,920,760

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

    $52,695,874

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

    $15,255,478

  • 10c · Land, buildings and equipment, net

    beginning of year $23,184,239 · end of year $37,440,396

  • 12 · Investments: other securities

    beginning of year $5,112,118 · end of year $5,706,946

  • 13 · Investments: program-related

    beginning of year $13,750 · end of year $14,151

  • 15 · Other assets

    beginning of year $240,877 · end of year $188,259

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,466,765 · end of year $5,251,981

  • 19 · Deferred revenue

    beginning of year $5,292,185 · end of year $5,265,000

  • 23 · Secured mortgages and notes payable

    beginning of year $8,615,430 · end of year $21,895,423

  • 25 · Other liabilities

    beginning of year $536,373 · end of year $237,023

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

    beginning of year $1,148,501 · end of year $1,461,081

  • 31 · Retained earnings, endowment or other funds

    beginning of year $15,754,885 · end of year $15,987,089

Mission and programs · 2022

Mission

AS A MEMBER OWNED, NON-PROFIT SERVICE ORGANIZATION, OUR MISSION IS TO PROVIDE EFFICIENT AND RELIABLE ELECTRIC SERVICE TO OUR MEMBERS.

  • DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS

As filed on the 2022 return.

Listed in Part VII

  • Roger Domer

    PRESIDENT

    Total calculated
    $19,000
    From this org
    $19,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.62

  • Terry Holsinger

    VICE PRESIDE

    Total calculated
    $17,200
    From this org
    $17,200
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.08

  • Jeff Brill

    SECRETARY/TR

    Total calculated
    $18,250
    From this org
    $18,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.52

  • Tony Bontrager

    DIRECTOR

    Total calculated
    $17,850
    From this org
    $17,850
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.11

  • Cliff Hibbs

    DIRECTOR

    Total calculated
    $18,050
    From this org
    $18,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.23

  • C Shane Rasler

    DIRECTOR

    Total calculated
    $18,450
    From this org
    $18,450
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.09

  • Michael Huppenthal

    DIRECTOR

    Total calculated
    $17,050
    From this org
    $17,050
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.14

  • Mark Leu

    CEO

    Total calculated
    $186,274
    From this org
    $177,149
    From related orgs
    $0
    Other
    $9,125
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $177,149
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $9,125
    Filer's total
    $186,274

  • Nathan Yoder

    JOURNEYMEN L

    Total calculated
    $102,390
    From this org
    $102,390
    From related orgs
    $0
    Other
    $0
    Hours/week
    40

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

None.

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
2022
Filed
3 May 2023
IRS schema version
2022v5.0
Source object
202311299349303496

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