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Nonprofiteer
← TIPMONT RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by TIPMONT RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$91,227,243
Total expenses
$91,179,217
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$87,963,153
Investment income
$147,799
Other revenue
$3,116,291
Total assets, end of year
$295,352,490
Total liabilities, end of year
$202,905,560
Net assets or fund balances, end of year
$92,446,930
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$91,179,217

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: ELECTRIC REVENUE

    total $80,324,359 · related or exempt $80,324,359

  • 2b · Program service revenue: SMART GRID REVENUE

    total $7,638,794 · related or exempt $7,638,794

  • 3 · Investment income

    total $147,799 · excluded $147,799

  • 6a · Gross rents

    real property $228,736

  • 6c · Rental income or loss

    real property $228,736

  • 6d · Net rental income or loss

    total $228,736 · related or exempt $228,736

  • 11a · Other revenue: PATRONAGE REVENUE

    total $2,675,000 · related or exempt $2,675,000

  • 11b · Other revenue: OTHER CAPITAL CREDITS

    total $164,529 · related or exempt $164,529

  • 11c · Other revenue: TIPMONT HOLDING INC.

    total $48,026 · excluded $48,026

  • 11e · Other revenue, total

    $2,887,555

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $5,394,387

  • 20 · Interest

    total $6,407,102

  • 22 · Depreciation, depletion and amortization

    total $8,516,984

  • 24a · Other expenses: PURCHASED POWER

    total $49,053,689

  • 24b · Other expenses: OPERATIONS AND MAINTENANC

    total $11,563,975

  • 24c · Other expenses: GENERAL AND ADMINISTRATIV

    total $5,946,370

  • 24d · Other expenses: CONSUMER ACCOUNT EXPENSE

    total $4,297,160

  • 24e · All other expenses

    total -$450

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $3,650,563 · end of year $5,317,765

  • 4 · Accounts receivable

    beginning of year $12,416,117 · end of year $12,425,363

  • 8 · Inventories for sale or use

    beginning of year $4,189,442 · end of year $5,799,743

  • 9 · Prepaid expenses and deferred charges

    beginning of year $125,950 · end of year $142,752

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

    $284,556,233

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

    $61,138,257

  • 10c · Land, buildings and equipment, net

    beginning of year $212,612,164 · end of year $223,417,976

  • 13 · Investments: program-related

    beginning of year $43,863,333 · end of year $46,457,182

  • 15 · Other assets

    beginning of year $776,207 · end of year $1,791,709

  • 17 · Accounts payable and accrued expenses

    beginning of year $15,692,926 · end of year $14,450,039

  • 23 · Secured mortgages and notes payable

    beginning of year $154,243,771 · end of year $164,004,356

  • 25 · Other liabilities

    beginning of year $20,553,188 · end of year $24,451,165

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

    beginning of year $99,785 · end of year $99,785

  • 31 · Retained earnings, endowment or other funds

    beginning of year $87,044,106 · end of year $92,347,145

Mission and programs · 2024

Mission

DISTRIBUTION OF ELECTRICITY TO MEMBERS ON A COOPERATIVE BASIS.

  • DISTRIBUTION OF ELECTRICITY TO APPROXIMATELY 30,853 MEMBERS ON A COOPERATIVE BASIS.

    Expenses $91,179,217 · Revenue $91,179,218

As filed on the 2024 return.

Listed in Part VII

  • Ronald L Holcomb

    PRESIDENT &

    Total calculated
    $543,378
    From this org
    $448,375
    From related orgs
    $0
    Other
    $95,003
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $448,375
    Bonus
    not reported
    Other
    not reported
    Deferred
    $53,500
    Nontaxable benefits
    $41,503
    Filer's total
    $543,378

  • Jennifer Rufatto

    CMO

    Total calculated
    $322,706
    From this org
    $277,866
    From related orgs
    $0
    Other
    $44,840
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,866
    Bonus
    not reported
    Other
    not reported
    Deferred
    $13,111
    Nontaxable benefits
    $31,729
    Filer's total
    $322,706

  • Jeremy Konkle

    COO

    Total calculated
    $311,072
    From this org
    $277,939
    From related orgs
    $0
    Other
    $33,133
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $277,939
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $33,133
    Filer's total
    $311,072

  • Jason M Monroe

    CUSTOMER EXP

    Total calculated
    $283,943
    From this org
    $270,189
    From related orgs
    $0
    Other
    $13,754
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $270,189
    Bonus
    not reported
    Other
    not reported
    Deferred
    $12,944
    Nontaxable benefits
    $810
    Filer's total
    $283,943

  • Douglas L Martin

    VP, FINANCE

    Total calculated
    $255,375
    From this org
    $223,573
    From related orgs
    $0
    Other
    $31,802
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $223,573
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $31,802
    Filer's total
    $255,375

  • Travis L Bailey

    TECHNOLOGY I

    Total calculated
    $245,703
    From this org
    $213,379
    From related orgs
    $0
    Other
    $32,324
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $213,379
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    $32,324
    Filer's total
    $245,703

  • Joseph P Kline

    DIRECTOR OF

    Total calculated
    $217,105
    From this org
    $162,053
    From related orgs
    $0
    Other
    $55,052
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,053
    Bonus
    not reported
    Other
    not reported
    Deferred
    $23,000
    Nontaxable benefits
    $32,052
    Filer's total
    $217,105

  • Christopher Blaisdell

    SYSTEM ENGIN

    Total calculated
    $207,697
    From this org
    $162,389
    From related orgs
    $0
    Other
    $45,308
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $162,389
    Bonus
    not reported
    Other
    not reported
    Deferred
    $14,434
    Nontaxable benefits
    $30,874
    Filer's total
    $207,697

  • Robert J Baker

    DIRECTOR

    Total calculated
    $48,871
    From this org
    $48,871
    From related orgs
    $0
    Other
    $0
    Hours/week
    25

  • Larry E Carlson

    DIRECTOR

    Total calculated
    $44,201
    From this org
    $44,201
    From related orgs
    $0
    Other
    $0
    Hours/week
    9

  • Kirk Alter

    SECRETARY/TR

    Total calculated
    $40,296
    From this org
    $40,296
    From related orgs
    $0
    Other
    $0
    Hours/week
    15

  • Lynn Beck

    VICE CHAIRMA

    Total calculated
    $25,586
    From this org
    $25,586
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Brandon S Bible

    CHAIRMAN

    Total calculated
    $23,796
    From this org
    $23,796
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Wesley Stockdale

    DIRECTOR

    Total calculated
    $13,766
    From this org
    $13,766
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Janet Harlow

    DIRECTOR

    Total calculated
    $12,901
    From this org
    $12,901
    From related orgs
    $0
    Other
    $0
    Hours/week
    8

    Schedule J breakdown matched by us

    Base
    $12,901
    Bonus
    not reported
    Other
    not reported
    Deferred
    not reported
    Nontaxable benefits
    not reported
    Filer's total
    $12,901

  • Thomas Cutter

    DIRECTOR

    Total calculated
    $3,442
    From this org
    $3,442
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

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 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.

  • TIPMONT HOLDING INC

    C CORP · SUBSIDIARY · IN · 100% owned · share of income $48,026 · share of assets $21,919,823

    Directly controlled by TIPMONT RE

Provenance

Return type
form_990
Tax year
2024
Filed
14 November 2025
IRS schema version
2024v5.0
Source object
202523219349302442

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