Form 990 for tax year 2024
Filed by NOBLE COUNTY RURAL ELECTRIC MEMBERSHIP CORP.
Totals
- Total revenue
- $27,225,824
- Total expenses
- $26,115,450
- Contributions and grants received
- $0
- Grants paid
- $0
- Program service revenue
- $26,076,402
- Investment income
- $108,363
- Other revenue
- $1,041,059
- Total assets, end of year
- $44,850,203
- Total liabilities, end of year
- $16,292,667
- Net assets or fund balances, end of year
- $28,557,536
- Program services expenses (Part IX)
- $0
- Management and general expenses
- $0
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $0
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 UTILITY INCOME
total $26,076,402 · related or exempt $26,076,402 · 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 $107,096 · related or exempt $0 · unrelated business $0 · excluded $107,096
-
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
-
6c · Rental income or loss
real property $0 · personal property $0
-
7a · Gross sales of assets other than inventory
securities $0 · other assets $1,500
-
7b · Less cost or other basis and sales expenses
securities $0 · other assets $233
-
7c · Gain or loss
securities $0 · other assets $1,267
-
7d · Net gain or loss
total $1,267 · related or exempt $1,267 · unrelated business $0 · excluded $0
-
11a · Other revenue: CAPITAL CREDIT INCOME
total $1,047,440 · related or exempt $0 · unrelated business $0 · excluded $1,047,440
-
11b · Other revenue: MISCELLANEOUS INCOME (LOSS)
total -$6,381 · related or exempt $0 · unrelated business $0 · excluded -$6,381
-
11d · All other revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$1,041,059
Functional expenses
Part IX, the statement of functional expenses.
-
4 · Benefits paid to or for members
total $424,707
-
5 · Compensation of officers, directors and key employees
total $508,508
-
7 · Other salaries and wages
total $2,000,230
-
8 · Pension plan contributions
total $428,015
-
9 · Other employee benefits
total $467,949
-
10 · Payroll taxes
total $174,316
-
11b · Fees: legal
total $10,578
-
11c · Fees: accounting
total $15,750
-
11d · Fees: lobbying
total $2,000
-
12 · Advertising and promotion
total $12,959
-
13 · Office expenses
total $86,337
-
14 · Information technology
total $317,482
-
16 · Occupancy
total $149,757
-
17 · Travel
total $118,860
-
19 · Conferences, conventions and meetings
total $16,866
-
20 · Interest
total $524,924
-
22 · Depreciation, depletion and amortization
total $1,771,641
-
23 · Insurance
total $53,931
-
24a · Other expenses: COST OF POWER
total $17,406,212
-
24b · Other expenses: OPERATION & MAINT DISTRIBUTION
total $822,080
-
24c · Other expenses: ADMIN/CUSTOMER SERVICE/CUSTOMER ACCT
total $610,503
-
24d · Other expenses: PROPERTY TAXES
total $191,845
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $954,160 · end of year $1,081,507
-
4 · Accounts receivable
beginning of year $2,694,520 · end of year $2,615,684
-
8 · Inventories for sale or use
beginning of year $502,638 · end of year $493,615
-
9 · Prepaid expenses and deferred charges
beginning of year $636,853 · end of year $388,958
-
10a · Land, buildings and equipment: cost or other basis
$55,112,505
-
10b · Land, buildings and equipment: accumulated depreciation
$26,780,606
-
10c · Land, buildings and equipment, net
beginning of year $27,588,412 · end of year $28,331,899
-
12 · Investments: other securities
beginning of year $10,953,100 · end of year $11,934,078
-
15 · Other assets
beginning of year $4,462 · end of year $4,462
-
17 · Accounts payable and accrued expenses
beginning of year $1,656,987 · end of year $1,757,832
-
23 · Secured mortgages and notes payable
beginning of year $11,779,333 · end of year $11,961,356
-
25 · Other liabilities
beginning of year $2,492,340 · end of year $2,573,479
-
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 $2,609,108 · end of year $2,939,206
-
31 · Retained earnings, endowment or other funds
beginning of year $24,796,377 · end of year $25,618,330
Mission and programs · 2024
Mission
AS A MEMBER-OWNED, NOT-FOR-PROFIT SERVICE ORGANIZATION, OUR MISSION IS TO PROVIDE AFFORDABLE, RELIABLE AND SAFE ELECTRIC SERVICE TO OUR MEMBERS.
-
DISTRIBUTION OF ELECTRICITY TO RURAL MEMBERS
As filed on the 2024 return.
Listed in Part VII
-
Ronald RaypoleRONALD RAYPOLE
PRESIDENT & CEO
- Total calculated
- $360,139
- From this org
- $253,499
- From related orgs
- $0
- Other
- $106,640
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $222,309
- Bonus
- $20,098
- Other
- $11,092
- Deferred
- $72,949
- Nontaxable benefits
- $33,691
- Filer's total
- $360,139
-
Douglas DickmeyerDOUGLAS DICKMEYER
MANAGER OF OPERATIONS
- Total calculated
- $223,562
- From this org
- $159,229
- From related orgs
- $0
- Other
- $64,333
- Hours/week
- 50
Schedule J breakdown matched by us
- Base
- $149,195
- Bonus
- $8,276
- Other
- $1,758
- Deferred
- $34,694
- Nontaxable benefits
- $29,639
- Filer's total
- $223,562
-
Sarah DreibelbisSARAH DREIBELBIS
MANAGER OF IT, BILLING & MEMBER RELATIONS
- Total calculated
- $189,961
- From this org
- $114,714
- From related orgs
- $0
- Other
- $75,247
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $105,960
- Bonus
- $6,420
- Other
- $2,334
- Deferred
- $43,086
- Nontaxable benefits
- $32,161
- Filer's total
- $189,961
-
Douglas EgglDOUGLAS EGGL
LINEMAN
- Total calculated
- $180,357
- From this org
- $126,666
- From related orgs
- $0
- Other
- $53,691
- Hours/week
- 46
Schedule J breakdown matched by us
- Base
- $123,716
- Bonus
- $1,690
- Other
- $1,259
- Deferred
- $27,225
- Nontaxable benefits
- $26,467
- Filer's total
- $180,357
-
Adam ChitwoodADAM CHITWOOD
MANAGER OF FINANCE/ACCOUNTING
- Total calculated
- $172,563
- From this org
- $133,342
- From related orgs
- $0
- Other
- $39,221
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $126,160
- Bonus
- $6,607
- Other
- $575
- Deferred
- $12,141
- Nontaxable benefits
- $27,080
- Filer's total
- $172,563
-
Kevin DriebelbisKEVIN DRIEBELBIS
COMMUNICATIONS & MARKETING MANAGER
- Total calculated
- $167,376
- From this org
- $106,985
- From related orgs
- $0
- Other
- $60,391
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $99,625
- Bonus
- $5,950
- Other
- $1,410
- Deferred
- $29,317
- Nontaxable benefits
- $31,074
- Filer's total
- $167,376
-
Rob HauckROB HAUCK
LINE FOREMAN
- Total calculated
- $163,592
- From this org
- $109,252
- From related orgs
- $0
- Other
- $54,340
- Hours/week
- 45
Schedule J breakdown matched by us
- Base
- $107,038
- Bonus
- $1,560
- Other
- $654
- Deferred
- $24,947
- Nontaxable benefits
- $29,393
- Filer's total
- $163,592
-
Doug BurnworthDOUG BURNWORTH
VICE CHAIRMAN
- Total calculated
- $13,055
- From this org
- $13,055
- From related orgs
- $0
- Other
- $0
- Hours/week
- 8.5
-
William KnoxWILLIAM KNOX
TREASURER
- Total calculated
- $11,170
- From this org
- $11,170
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.7
-
Richard RobertsonRICHARD ROBERTSON
CHAIRMAN
- Total calculated
- $10,955
- From this org
- $10,955
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.1
-
Joe HutsellJOE HUTSELL
DIRECTOR
- Total calculated
- $10,845
- From this org
- $10,845
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.2
-
Jay WysongJAY WYSONG
DIRECTOR
- Total calculated
- $10,640
- From this org
- $10,640
- From related orgs
- $0
- Other
- $0
- Hours/week
- 3.6
-
George BennettGEORGE BENNETT
DIRECTOR
- Total calculated
- $10,325
- From this org
- $10,325
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.6
-
Larry OttLARRY OTT
DIRECTOR
- Total calculated
- $10,280
- From this org
- $10,280
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.1
-
Andrew StrackANDREW STRACK
SECRETARY
- Total calculated
- $9,910
- From this org
- $9,910
- From related orgs
- $0
- Other
- $0
- Hours/week
- 2.9
-
Mark DemskeMARK DEMSKE
DIRECTOR
- Total calculated
- $8,600
- From this org
- $8,600
- From related orgs
- $0
- Other
- $0
- Hours/week
- 4.9
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 · Travel for companions
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Written employment contract
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
- 4b · Supplemental nonqualified retirement plan
Answered no
- 4a · Severance or change-of-control payment
- 4c · Equity-based compensation arrangement
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a
- CEO EMPLOYMENT AGREEMENT HAS AN EXPENSE REIMBURSEMENT THAT "AGREES TO PAY REASONABLE AND NECESSARY TRANSPORTATION, MEALS AND LODGING EXPENSES INCURRED AS THE RESULT OF THE CEO'S SPOUSE ACCOMPANYING HIM ON BUSINESS TRIPS."
- Schedule J, Part I, Line 4
- CEO PARTICIPATES IN A NON-QUALIFIED 457(B) DEFERRED COMPENSATION PLAN. TOTAL CONTRIBUTIONS TO THE PLAN FOR 2024 WERE $19,500.
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.
-
NOBLE TECHNOLOGIES INC
C · INACTIVE · IN · 100% owned
Provenance
- Return type
- form_990
- Tax year
- 2024
- Filed
- 14 May 2025
- IRS schema version
- 2024v5.0
- Source object
- 202531349349307448
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