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Nonprofiteer
← RURAL ELECTRIC CONVENIENCE COOPERATIVE CO

Form 990 for tax year 2024

Filed by RURAL ELECTRIC CONVENIENCE COOPERATIVE CO.

Totals

Total revenue
$17,182,657
Total expenses
$17,182,657
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$17,168,032
Investment income
$27,267
Other revenue
-$12,642
Total assets, end of year
$44,896,106
Total liabilities, end of year
$29,452,419
Net assets or fund balances, end of year
$15,443,687
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: Sale of Electricity

    total $16,744,062 · related or exempt $16,744,062

  • 2b · Program service revenue: Capital Credits

    total $236,069 · related or exempt $236,069

  • 2c · Program service revenue: Other Operating

    total $187,901 · related or exempt $187,901

  • 3 · Investment income

    total $27,267 · excluded $27,267

  • 6a · Gross rents

    personal property $14,004

  • 6c · Rental income or loss

    personal property $14,004

  • 6d · Net rental income or loss

    total $14,004 · excluded $14,004

  • 8c · Net income from fundraising events

    total $0

  • 11a · Other revenue: 990-T

    total -$22,615 · related or exempt -$22,615

  • 11b · Other revenue: Non-Operating

    total -$4,031 · related or exempt -$4,031

  • 11e · Other revenue, total

    -$26,646

Functional expenses

Part IX, the statement of functional expenses.

  • 4 · Benefits paid to or for members

    total $755,209

  • 5 · Compensation of officers, directors and key employees

    total $705,814

  • 20 · Interest

    total $1,133,749

  • 22 · Depreciation, depletion and amortization

    total $1,744,813

  • 24a · Other expenses: Cost of Power

    total $9,643,586 · program services $9,643,586

  • 24b · Other expenses: Distribution Expense

    total $1,562,056 · program services $1,562,056

  • 24c · Other expenses: Admin & General

    total $1,220,069 · program services $1,220,069

  • 24d · Other expenses: Member Services

    total $362,272 · program services $362,272

  • 24e · All other expenses

    total $55,089

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $177,681 · end of year $471,331

  • 4 · Accounts receivable

    beginning of year $1,682,909 · end of year $1,718,282

  • 8 · Inventories for sale or use

    beginning of year $751,993 · end of year $808,242

  • 9 · Prepaid expenses and deferred charges

    beginning of year $234,350 · end of year $264,949

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

    $61,465,684

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

    $22,011,509

  • 10c · Land, buildings and equipment, net

    beginning of year $39,183,676 · end of year $39,454,175

  • 13 · Investments: program-related

    beginning of year $2,079,948 · end of year $2,179,127

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,077,652 · end of year $2,214,548

  • 19 · Deferred revenue

    beginning of year $314,044 · end of year $189,620

  • 23 · Secured mortgages and notes payable

    beginning of year $25,804,863 · end of year $26,057,960

  • 24 · Unsecured notes and loans payable

    beginning of year $825,000 · end of year $705,000

  • 25 · Other liabilities

    beginning of year $301,212 · end of year $285,291

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

    beginning of year $1,151,709 · end of year $1,391,523

  • 31 · Retained earnings, endowment or other funds

    beginning of year $13,636,077 · end of year $14,052,164

Mission and programs · 2024

Mission

As an energy and services cooperative, our Members needs are Rural Electric Convenience Cooperatives first priority.

  • Rural Electric Convenience Cooperative (RECC) serves 5,994 consumers in Sangamon, Morgan, Macoupin, Christian, and Montgomery counties. RECC also serves consumers in several growing subdivisions around Springfield, Taylorville, Litchfield, and other towns.

As filed on the 2024 return.

Listed in Part VII

  • Sean R Middleton

    PresidentCEO

    Total calculated
    $251,541
    From this org
    $206,605
    From related orgs
    $0
    Other
    $44,936
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $206,605
    Bonus
    not reported
    Other
    not reported
    Deferred
    $33,449
    Nontaxable benefits
    $11,487
    Filer's total
    $251,541

  • Timothy Hemberger

    Mgr Operations

    Total calculated
    $211,408
    From this org
    $111,483
    From related orgs
    $0
    Other
    $99,925
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $111,483
    Bonus
    not reported
    Other
    not reported
    Deferred
    $85,543
    Nontaxable benefits
    $14,382
    Filer's total
    $211,408

  • Aubrie Megginson

    Mgr FinanceAdmn

    Total calculated
    $132,390
    From this org
    $98,142
    From related orgs
    $0
    Other
    $34,248
    Hours/week
    45

  • Gary Niemyer

    Director

    Total calculated
    $17,250
    From this org
    $17,250
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Cassie Eigenmann

    Director

    Total calculated
    $16,875
    From this org
    $16,875
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Chris Wilcox

    Director

    Total calculated
    $15,000
    From this org
    $15,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Thomas Hart

    Director

    Total calculated
    $14,625
    From this org
    $14,625
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jimmy Ayers

    Director

    Total calculated
    $13,125
    From this org
    $13,125
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Melvin Repescher

    Director

    Total calculated
    $12,375
    From this org
    $12,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Andy Goleman

    Director

    Total calculated
    $7,500
    From this org
    $7,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Neil Bryan

    Director

    Total calculated
    $7,350
    From this org
    $7,350
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Clayton Bloome

    Director

    Total calculated
    $6,375
    From this org
    $6,375
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

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 · 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.

Provenance

Return type
form_990
Tax year
2024
Filed
31 October 2025
IRS schema version
2024v5.2
Source object
202503089349301845

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