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Nonprofiteer
← PIONEER RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2022

Filed by PIONEER RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$75,418,373
Total expenses
$75,418,373
Contributions and grants received
$0
Grants paid
$7,000
Program service revenue
$72,431,886
Investment income
$102,422
Other revenue
$2,884,065
Total assets, end of year
$142,552,198
Total liabilities, end of year
$57,709,109
Net assets or fund balances, end of year
$84,843,089
Program services expenses (Part IX)
$75,418,373
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$75,418,373

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: Sale of Electric Energy

    total $72,431,886 · related or exempt $72,431,886 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $102,422 · related or exempt $102,422 · unrelated business $0 · excluded $0

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

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $245,763 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $245,763 · personal property $0

  • 6d · Net rental income or loss

    total $245,763 · related or exempt $245,763 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: Patronage Capital

    total $2,631,301 · related or exempt $2,631,301 · unrelated business $0 · excluded $0

  • 11b · Other revenue: Miscellaneous Revenue

    total $7,001 · related or exempt $7,001 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $2,638,302

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $7,000 · program services $7,000

  • 4 · Benefits paid to or for members

    total $6,274,526 · program services $6,274,526

  • 5 · Compensation of officers, directors and key employees

    total $680,251 · program services $680,251 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $3,678,040 · program services $3,678,040 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $798,412 · program services $798,412 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $679,595 · program services $679,595 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $289,463 · program services $289,463 · management and general $0 · fundraising $0

  • 20 · Interest

    total $2,006,384 · program services $2,006,384 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $4,188,139 · program services $4,188,139 · management and general $0 · fundraising $0

  • 24a · Other expenses: Cost of Purchase Power

    total $49,157,638 · program services $49,157,638 · management and general $0 · fundraising $0

  • 24b · Other expenses: Operating and Maintenance Expense

    total $5,923,981 · program services $5,923,981 · management and general $0 · fundraising $0

  • 24c · Other expenses: Taxes and Other Expenses

    total $1,646,340 · program services $1,646,340 · management and general $0 · fundraising $0

  • 24d · Other expenses: Loss on Disposition of Property

    total $88,604 · program services $88,604 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,334,474 · end of year $9,319,657

  • 4 · Accounts receivable

    beginning of year $5,506,298 · end of year $5,588,399

  • 8 · Inventories for sale or use

    beginning of year $947,116 · end of year $1,217,140

  • 9 · Prepaid expenses and deferred charges

    beginning of year $310,492 · end of year $1,014,705

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

    $129,969,323

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

    $43,616,459

  • 10c · Land, buildings and equipment, net

    beginning of year $83,878,074 · end of year $86,352,864

  • 15 · Other assets

    beginning of year $38,834,668 · end of year $39,059,433

  • 17 · Accounts payable and accrued expenses

    beginning of year $4,830,036 · end of year $6,327,079

  • 23 · Secured mortgages and notes payable

    beginning of year $47,217,073 · end of year $47,240,229

  • 25 · Other liabilities

    beginning of year $4,672,404 · end of year $4,141,801

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

  • 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 $81,091,609 · end of year $84,843,089

Mission and programs · 2022

Mission

Committed to exceeding the energy needs and expectations of our consumer-members by providing safe, high quality and responsive service at fair prices.

Activities or mission (Part I)

Electric distribution to over 17,050 members in eleven counties in rural Ohio

  • Utilities

    Expenses $75,418,373 · Revenue $75,418,373

As filed on the 2022 return.

Listed in Part VII

  • Ronald P Salyer

    President/CEO

    Total calculated
    $430,191
    From this org
    $279,183
    From related orgs
    $0
    Other
    $151,008
    Hours/week
    48

    Schedule J breakdown matched by us

    Base
    $269,556
    Bonus
    $0
    Other
    $9,627
    Deferred
    $132,924
    Nontaxable benefits
    $20,692
    Filer's total
    $432,799

  • Susan M Knore

    Vice President/CFO

    Total calculated
    $245,668
    From this org
    $176,240
    From related orgs
    $0
    Other
    $69,428
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $158,108
    Bonus
    $0
    Other
    $18,132
    Deferred
    $51,453
    Nontaxable benefits
    $19,760
    Filer's total
    $247,453

  • F Lynn Maniaci

    Director of Tech Services and Engring

    Total calculated
    $241,105
    From this org
    $160,108
    From related orgs
    $0
    Other
    $80,997
    Hours/week
    41

    Schedule J breakdown matched by us

    Base
    $133,108
    Bonus
    $0
    Other
    $27,000
    Deferred
    $63,021
    Nontaxable benefits
    $19,605
    Filer's total
    $242,734

  • Steven A McClay

    Director of Operations & Safety

    Total calculated
    $233,521
    From this org
    $139,084
    From related orgs
    $0
    Other
    $94,437
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $112,084
    Bonus
    $0
    Other
    $27,000
    Deferred
    $76,461
    Nontaxable benefits
    $19,395
    Filer's total
    $234,940

  • Jeff Dietz

    Manager of Engineering

    Total calculated
    $208,305
    From this org
    $148,117
    From related orgs
    $0
    Other
    $60,188
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $132,556
    Bonus
    $0
    Other
    $15,561
    Deferred
    $42,105
    Nontaxable benefits
    $19,608
    Filer's total
    $209,830

  • Todd D Garrett

    Manager of Community & Gov't Relations

    Total calculated
    $202,673
    From this org
    $138,596
    From related orgs
    $0
    Other
    $64,077
    Hours/week
    42

    Schedule J breakdown matched by us

    Base
    $111,596
    Bonus
    $0
    Other
    $27,000
    Deferred
    $50,650
    Nontaxable benefits
    $14,853
    Filer's total
    $204,099

  • John Holcomb

    Lineman First Class Service Truck

    Total calculated
    $170,344
    From this org
    $125,330
    From related orgs
    $0
    Other
    $45,014
    Hours/week
    49

    Schedule J breakdown matched by us

    Base
    $121,448
    Bonus
    $0
    Other
    $3,882
    Deferred
    $31,695
    Nontaxable benefits
    $14,119
    Filer's total
    $171,144

  • John Goettemoeller

    Secretary

    Total calculated
    $16,435
    From this org
    $16,435
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.71

  • Terry Householder

    Chair

    Total calculated
    $15,895
    From this org
    $15,895
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.32

  • Mark A Bailey

    Treasurer

    Total calculated
    $15,170
    From this org
    $15,170
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.26

  • Roger Bertke

    Second Vice Chair

    Total calculated
    $14,560
    From this org
    $14,560
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.63

  • Wade Wilhelm

    Board Member

    Total calculated
    $14,440
    From this org
    $14,440
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.97

  • John Vulgamore

    Board Member

    Total calculated
    $14,219
    From this org
    $14,219
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.25

  • Colleen R Eidemiller

    First Vice Chair

    Total calculated
    $14,080
    From this org
    $14,080
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.56

  • Ted Black

    Board Member

    Total calculated
    $13,130
    From this org
    $13,130
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.6

  • Robert Billings

    Board Member

    Total calculated
    $11,380
    From this org
    $11,380
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.64

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

  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 1a
The trustees, officers and highest compensation employees were F. Lynn Maniaci, Jeff Dietz and John Vulgamore.

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
2 June 2023
IRS schema version
2022v5.0
Source object
202331469349300603

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