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Nonprofiteer
← MARSHALL COUNTY RURAL ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2022

Filed by MARSHALL COUNTY RURAL ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$17,692,706
Total expenses
$15,445,745
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$17,410,299
Investment income
$12,358
Other revenue
$270,049
Total assets, end of year
$60,789,421
Total liabilities, end of year
$29,356,894
Net assets or fund balances, end of year
$31,432,527
Program services expenses (Part IX)
$15,445,745
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$15,445,745

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: ELECTRIC SALES

    total $17,410,299 · related or exempt $17,410,299 · 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 $12,358 · related or exempt $0 · unrelated business $0 · excluded $12,358

  • 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 $37,411 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $37,411 · personal property $0

  • 6d · Net rental income or loss

    total $37,411 · related or exempt $37,411 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 10a · Gross sales of inventory

    $74,031

  • 10b · Cost of goods sold

    $73,463

  • 10c · Net income from sales of inventory

    total $568 · related or exempt $568 · unrelated business $0 · excluded $0

  • 11a · Other revenue: MISC REVENUE

    total $232,070 · related or exempt $0 · unrelated business $0 · excluded $232,070

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $232,070

Functional expenses

Part IX, the statement of functional expenses.

  • 6 · Compensation of disqualified persons

    total $919,348 · program services $919,348

  • 20 · Interest

    total $858,714 · program services $858,714

  • 22 · Depreciation, depletion and amortization

    total $1,389,646 · program services $1,389,646

  • 24a · Other expenses: PURCHASED POWER

    total $9,182,755 · program services $9,182,755 · management and general $0 · fundraising $0

  • 24b · Other expenses: OPERATIONS & MAINTENANCE

    total $1,918,030 · program services $1,918,030 · management and general $0 · fundraising $0

  • 24c · Other expenses: CONSUMER SERVICE

    total $576,567 · program services $576,567 · management and general $0 · fundraising $0

  • 24d · Other expenses: GENERAL & ADMINISTRATIVE

    total $493,145 · program services $493,145 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $107,540 · program services $107,540

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $888,072 · end of year $229,171

  • 2 · Savings and temporary cash investments

    beginning of year $2,350,425 · end of year $1,713,340

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $1,106,371 · end of year $1,443,876

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $505,706 · end of year $846,078

  • 9 · Prepaid expenses and deferred charges

    beginning of year $953,884 · end of year $1,434,805

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

    $49,388,726

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

    $5,822,261

  • 10c · Land, buildings and equipment, net

    beginning of year $42,500,107 · end of year $43,566,465

  • 11 · Investments: publicly traded securities

    beginning of year $0 · end of year $0

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $9,473,839 · end of year $11,555,686

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,455,558 · end of year $1,712,765

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $27,049,220 · end of year $27,639,692

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $46,433 · end of year $4,437

  • 29 · Capital stock, trust principal or current funds

    beginning of year $109,788 · end of year $113,359

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

    beginning of year $109,649 · end of year $118,017

  • 31 · Retained earnings, endowment or other funds

    beginning of year $29,007,756 · end of year $31,201,151

Mission and programs · 2022

Mission

THE PURPOSE OF MARSHALL COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION IS TO DISTRIBUTE ELECTRIC ENERGY AVAILABLE TO ITS MEMBERS AT THE LOWEST COST CONSISTANT WITH SOUND ECONOMIC MANAGEMENT.

Activities or mission (Part I)

THE PURPOSE OF MARSHALL COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION IS TO DISTRIBUTE ELECTRIC ENERGY TO ITS MEMBERS AT THE LOWEST COST CONSISTANT WITH SOUND ECONOMIC MANAGEMENT.

  • DISTRIBUTION OF ELECTRICITY ON A COOPERATIVE BASIS.

    Expenses $15,445,745 · Revenue $17,448,278

As filed on the 2022 return.

Listed in Part VII

  • David Lewallen

    CEO AND PRESIDENT

    Total calculated
    $216,889
    From this org
    $136,014
    From related orgs
    $0
    Other
    $80,875
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,014
    Bonus
    $0
    Other
    $0
    Deferred
    $50,172
    Nontaxable benefits
    $30,703
    Filer's total
    $216,889

  • David Denney

    OFFICE MANAGER

    Total calculated
    $167,493
    From this org
    $136,562
    From related orgs
    $0
    Other
    $30,931
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $136,562
    Bonus
    $0
    Other
    $0
    Deferred
    $13,358
    Nontaxable benefits
    $17,573
    Filer's total
    $167,493

  • John Yates

    LINEMAN

    Total calculated
    $167,097
    From this org
    $123,214
    From related orgs
    $0
    Other
    $43,883
    Hours/week
    44.39

    Schedule J breakdown matched by us

    Base
    $123,214
    Bonus
    $0
    Other
    $0
    Deferred
    $14,159
    Nontaxable benefits
    $29,724
    Filer's total
    $167,097

  • Christopher Ennis

    LINEMAN

    Total calculated
    $163,751
    From this org
    $122,720
    From related orgs
    $0
    Other
    $41,031
    Hours/week
    44.09

    Schedule J breakdown matched by us

    Base
    $122,720
    Bonus
    $0
    Other
    $0
    Deferred
    $11,345
    Nontaxable benefits
    $29,686
    Filer's total
    $163,751

  • Doug Mac Lain

    LINEMAN

    Total calculated
    $163,053
    From this org
    $120,721
    From related orgs
    $0
    Other
    $42,332
    Hours/week
    43.27

    Schedule J breakdown matched by us

    Base
    $120,721
    Bonus
    $0
    Other
    $0
    Deferred
    $15,694
    Nontaxable benefits
    $26,638
    Filer's total
    $163,053

  • Sawyer Cripe

    LINEMAN

    Total calculated
    $157,069
    From this org
    $117,701
    From related orgs
    $0
    Other
    $39,368
    Hours/week
    43.29

    Schedule J breakdown matched by us

    Base
    $117,701
    Bonus
    $0
    Other
    $0
    Deferred
    $10,066
    Nontaxable benefits
    $29,302
    Filer's total
    $157,069

  • Naomi Podlesak

    CFO

    Total calculated
    $75,993
    From this org
    $54,616
    From related orgs
    $0
    Other
    $21,377
    Hours/week
    40

  • Jon Rettinger

    DIRECTOR - TREASURER/SECRETARY

    Total calculated
    $33,700
    From this org
    $15,400
    From related orgs
    $18,300
    Other
    $0
    Hours/week
    3 + 2 related

  • Dr Richard Leeper

    DIRECTOR - CHAIRMAN

    Total calculated
    $31,900
    From this org
    $15,400
    From related orgs
    $16,500
    Other
    $0
    Hours/week
    8 + 2 related

  • Mikel Large

    DIRECTOR - VICE-CHAIRMAN

    Total calculated
    $15,400
    From this org
    $15,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Andy Lemler

    DIRECTOR

    Total calculated
    $15,400
    From this org
    $15,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Stephen Ringer

    DIRECTOR

    Total calculated
    $15,400
    From this org
    $15,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Robin Roberts

    DIRECTOR

    Total calculated
    $15,400
    From this org
    $15,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Steven Roberts

    DIRECTOR

    Total calculated
    $15,400
    From this org
    $15,400
    From related orgs
    $0
    Other
    $0
    Hours/week
    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 · 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.

  • MARSHALL COUNTY RURAL DEVELOPMENT CORPORATION

    C · GRANT DEVELOPMENT · IN · 100% owned · share of income -$161,929 · share of assets $5,346,385

Provenance

Return type
form_990
Tax year
2022
Filed
9 May 2023
IRS schema version
2022v5.0
Source object
202301299349302125

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