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Nonprofiteer
← JOHNSON COUNTY RURAL ELEC MEM CORP

Form 990 for tax year 2024

Filed by JOHNSON COUNTY RURAL ELEC MEM CORP.

Totals

Total revenue
$76,653,939
Total expenses
$73,836,020
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$74,033,350
Investment income
$558,970
Other revenue
$2,061,619
Total assets, end of year
$202,674,247
Total liabilities, end of year
$103,643,938
Net assets or fund balances, end of year
$99,030,309
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$73,836,020

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: Electricity distribution

    total $73,747,258 · related or exempt $73,747,258

  • 2b · Program service revenue: Penaltiesservice charges

    total $286,092 · related or exempt $286,092

  • 3 · Investment income

    total $539,845 · excluded $539,845

  • 6a · Gross rents

    personal property $186,600

  • 6c · Rental income or loss

    personal property $186,600

  • 6d · Net rental income or loss

    total $186,600

  • 7a · Gross sales of assets other than inventory

    other assets $32,150

  • 7b · Less cost or other basis and sales expenses

    other assets $13,025

  • 7c · Gain or loss

    other assets $19,125

  • 7d · Net gain or loss

    total $19,125

  • 8c · Net income from fundraising events

    total $0

  • 10a · Gross sales of inventory

    $107,939

  • 10b · Cost of goods sold

    $106,830

  • 10c · Net income from sales of inventory

    total $1,109

  • 11a · Other revenue: Patronage capital

    total $1,605,277 · related or exempt $1,605,277

  • 11b · Other revenue: Patronage capital assoc

    total -$68,730 · related or exempt -$68,730

  • 11d · All other revenue

    total $337,363 · excluded $337,363

  • 11e · Other revenue, total

    $1,873,910

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $762,002

  • 7 · Other salaries and wages

    total $4,011,513

  • 8 · Pension plan contributions

    total $990,501

  • 9 · Other employee benefits

    total $235,523

  • 10 · Payroll taxes

    total $515,343

  • 11b · Fees: legal

    total $430,080

  • 11c · Fees: accounting

    total $19,090

  • 11d · Fees: lobbying

    total $8,938

  • 12 · Advertising and promotion

    total $251,739

  • 13 · Office expenses

    total $79,312

  • 14 · Information technology

    total $536,116

  • 16 · Occupancy

    total $526,853

  • 17 · Travel

    total $62,947

  • 19 · Conferences, conventions and meetings

    total $128,738

  • 20 · Interest

    total $3,085,689

  • 21 · Payments to affiliates

    total $237,585

  • 22 · Depreciation, depletion and amortization

    total $5,106,045

  • 23 · Insurance

    total $53,849

  • 24a · Other expenses: purchased power

    total $51,823,527

  • 24b · Other expenses: line operation & maint

    total $4,398,226

  • 24c · Other expenses: taxes

    total $484,384

  • 24d · Other expenses: meter reading

    total $88,020

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,040 · end of year $12,836

  • 2 · Savings and temporary cash investments

    beginning of year $1,848,449 · end of year $2,423,522

  • 4 · Accounts receivable

    beginning of year $10,735,260 · end of year $12,733,952

  • 7 · Other notes and loans receivable

    beginning of year $13,525,893 · end of year $16,704,466

  • 8 · Inventories for sale or use

    beginning of year $10,583,500 · end of year $9,558,921

  • 9 · Prepaid expenses and deferred charges

    beginning of year $103,677 · end of year $134,441

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

    $154,885,446

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

    $35,970,363

  • 10c · Land, buildings and equipment, net

    beginning of year $113,682,609 · end of year $118,915,083

  • 13 · Investments: program-related

    beginning of year $29,274,877 · end of year $29,828,195

  • 15 · Other assets

    end of year $12,362,831

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,210,348 · end of year $13,205,999

  • 23 · Secured mortgages and notes payable

    beginning of year $63,405,889 · end of year $86,067,530

  • 25 · Other liabilities

    beginning of year $4,792,681 · end of year $4,370,409

  • 31 · Retained earnings, endowment or other funds

    beginning of year $98,353,387 · end of year $99,030,309

Mission and programs · 2024

Mission

To safely and efficiently provide reliable electric services for the community.

Activities or mission (Part I)

To safely and efficiently provide reliable electric services for the community

  • Distribution of electricity

    Expenses $73,836,020 · Revenue $75,569,897

As filed on the 2024 return.

Listed in Part VII

  • John Sturm

    CEO

    Total calculated
    $481,895
    From this org
    $381,584
    From related orgs
    $0
    Other
    $100,311
    Hours/week
    43.2 + 5 related

    Schedule J breakdown matched by us

    Base
    $350,984
    Bonus
    $30,000
    Other
    $600
    Deferred
    $73,149
    Nontaxable benefits
    $27,162
    Filer's total
    $481,895

  • Terry Miller

    VP of Finance

    Total calculated
    $305,402
    From this org
    $202,830
    From related orgs
    $0
    Other
    $102,572
    Hours/week
    43.4 + 5 related

    Schedule J breakdown matched by us

    Base
    $184,623
    Bonus
    $6,000
    Other
    $12,207
    Deferred
    $76,759
    Nontaxable benefits
    $25,813
    Filer's total
    $305,402

  • Kevin Shelley

    VP of Engineering

    Total calculated
    $248,293
    From this org
    $183,513
    From related orgs
    $0
    Other
    $64,780
    Hours/week
    42.5

    Schedule J breakdown matched by us

    Base
    $173,379
    Bonus
    $6,000
    Other
    $4,134
    Deferred
    $39,078
    Nontaxable benefits
    $25,702
    Filer's total
    $248,293

  • Nick Stainbrook

    Director of Operations

    Total calculated
    $220,292
    From this org
    $156,639
    From related orgs
    $0
    Other
    $63,653
    Hours/week
    42.8

    Schedule J breakdown matched by us

    Base
    $147,007
    Bonus
    not reported
    Other
    $9,632
    Deferred
    $38,210
    Nontaxable benefits
    $25,443
    Filer's total
    $220,292

  • Shawn Frye

    Director of Technology

    Total calculated
    $200,675
    From this org
    $144,412
    From related orgs
    $0
    Other
    $56,263
    Hours/week
    41.8

    Schedule J breakdown matched by us

    Base
    $133,177
    Bonus
    not reported
    Other
    $11,235
    Deferred
    $30,952
    Nontaxable benefits
    $25,311
    Filer's total
    $200,675

  • Steven Stout

    Journeyman Lineman

    Total calculated
    $178,022
    From this org
    $143,823
    From related orgs
    $0
    Other
    $34,199
    Hours/week
    49.6

    Schedule J breakdown matched by us

    Base
    $140,253
    Bonus
    not reported
    Other
    $3,570
    Deferred
    $9,336
    Nontaxable benefits
    $24,863
    Filer's total
    $178,022

  • Daniel Corthell

    Journeyman Lineman

    Total calculated
    $171,323
    From this org
    $134,260
    From related orgs
    $0
    Other
    $37,063
    Hours/week
    47.7

    Schedule J breakdown matched by us

    Base
    $133,660
    Bonus
    not reported
    Other
    $600
    Deferred
    $12,200
    Nontaxable benefits
    $24,863
    Filer's total
    $171,323

  • Samuel Wood

    Journeyman Lineman

    Total calculated
    $156,107
    From this org
    $138,976
    From related orgs
    $0
    Other
    $17,131
    Hours/week
    49.4

    Schedule J breakdown matched by us

    Base
    $138,376
    Bonus
    not reported
    Other
    $600
    Deferred
    $4,936
    Nontaxable benefits
    $12,195
    Filer's total
    $156,107

  • Seth Brown

    SecretaryTreasurer

    Total calculated
    $38,050
    From this org
    $30,350
    From related orgs
    $7,700
    Other
    $0
    Hours/week
    8 + 0.2 related

  • Stephen Watson

    Vice President

    Total calculated
    $35,977
    From this org
    $28,277
    From related orgs
    $7,700
    Other
    $0
    Hours/week
    5.5 + 0.3 related

  • Lee Ann Wilbur

    President

    Total calculated
    $33,911
    From this org
    $26,211
    From related orgs
    $7,700
    Other
    $0
    Hours/week
    5.9 + 0.3 related

  • Ronald Barnett

    Board of Director

    Total calculated
    $31,750
    From this org
    $24,050
    From related orgs
    $7,700
    Other
    $0
    Hours/week
    6.6 + 0.3 related

  • Dennis Stewart

    Board of Director

    Total calculated
    $31,150
    From this org
    $23,450
    From related orgs
    $7,700
    Other
    $0
    Hours/week
    3 + 0.3 related

  • Jamie Meredith

    Board of Director

    Total calculated
    $30,650
    From this org
    $22,950
    From related orgs
    $7,700
    Other
    $0
    Hours/week
    5.8 + 0.1 related

  • Glenn McAlpin

    Board of Director

    Total calculated
    $30,000
    From this org
    $22,300
    From related orgs
    $7,700
    Other
    $0
    Hours/week
    4.1 + 0.2 related

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 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 partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

  • Johnson County Fiber Network

    NA · Data Communications · IN

    Directly controlled by NA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Effective Systems

    C corp · Holding Company · IN · 100% owned · share of income $82,900 · share of assets $3,805,841

    Directly controlled by JCREMC

  • Rural Utility Economic Development Corporation

    C corp · Back-Up Generator · IN · 100% owned · share of income $40,000 · share of assets $3,620

    Directly controlled by Effective Systems

  • Effective Systems Fiber Network

    C corp · Data Communications · IN · 100% owned · share of income $3,163,385 · share of assets $23,193,893

    Directly controlled by Effective Systems

Provenance

Return type
form_990
Tax year
2024
Filed
13 October 2025
IRS schema version
2024v5.2
Source object
202532869349301208

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