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← SOUTH CENTRAL INDIANA RURAL ELECTRIC MEMBERSHIP CORPORATION

Form 990 for tax year 2024

Filed by SOUTH CENTRAL INDIANA RURAL ELECTRIC MEMBERSHIP CORPORATION.

Totals

Total revenue
$117,076,557
Total expenses
$116,042,872
Contributions and grants received
$0
Grants paid
$17,423
Program service revenue
$113,889,443
Investment income
$2,664,552
Other revenue
$522,562
Total assets, end of year
$327,147,569
Total liabilities, end of year
$214,683,559
Net assets or fund balances, end of year
$112,464,010
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
not reported

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: SALES OF ELECTRICITY

    total $97,061,365 · related or exempt $97,061,365

  • 2b · Program service revenue: FIBER REVENUE

    total $13,632,473 · related or exempt $13,087,537 · unrelated business $544,936

  • 2c · Program service revenue: PATRONAGE DIVIDENDS

    total $2,408,339 · related or exempt $2,408,339

  • 2d · Program service revenue: SERVICE FEES

    total $787,266 · related or exempt $787,266

  • 3 · Investment income

    total $83,513 · excluded $83,513

  • 6a · Gross rents

    real property $70,723

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $70,723

  • 6d · Net rental income or loss

    total $70,723 · excluded $70,723

  • 7a · Gross sales of assets other than inventory

    other assets $3,142,363

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

    other assets $561,324

  • 7c · Gain or loss

    other assets $2,581,039

  • 7d · Net gain or loss

    total $2,581,039 · related or exempt $2,364,083 · unrelated business $216,956

  • 10a · Gross sales of inventory

    $204,414

  • 10b · Cost of goods sold

    $169,346

  • 10c · Net income from sales of inventory

    total $35,068 · related or exempt $35,068

  • 11a · Other revenue: POLE ATTACHEMENT INCOME

    total $503,345 · excluded $503,345

  • 11b · Other revenue: BROADBAND P'SHIP LOSS

    total -$86,574 · related or exempt -$82,565 · unrelated business -$4,009

  • 11e · Other revenue, total

    $416,771

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $17,423

  • 4 · Benefits paid to or for members

    total $12,309,185

  • 5 · Compensation of officers, directors and key employees

    total $2,085,272

  • 7 · Other salaries and wages

    total $9,006,519

  • 8 · Pension plan contributions

    total $1,447,664

  • 9 · Other employee benefits

    total $2,082,208

  • 10 · Payroll taxes

    total $766,942

  • 20 · Interest

    total $7,358,138

  • 22 · Depreciation, depletion and amortization

    total $12,519,626

  • 24a · Other expenses: PURCHASED POWER/COST OF

    total $58,577,619

  • 24b · Other expenses: ADMIN & GENERAL EXPENSE

    total $4,646,264

  • 24c · Other expenses: DISTRIBUTION EXPENSE

    total $3,584,958

  • 24d · Other expenses: TAXES

    total $953,082

  • 24e · All other expenses

    total $687,972

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,445,514 · end of year $1,147,081

  • 2 · Savings and temporary cash investments

    beginning of year $271,574 · end of year $281,233

  • 4 · Accounts receivable

    beginning of year $14,274,046 · end of year $13,073,985

  • 7 · Other notes and loans receivable

    beginning of year $2,240 · end of year $2,240

  • 8 · Inventories for sale or use

    beginning of year $3,473,654 · end of year $3,079,180

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,392,934 · end of year $583,825

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

    $392,808,457

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

    $122,940,961

  • 10c · Land, buildings and equipment, net

    beginning of year $260,357,167 · end of year $269,867,496

  • 11 · Investments: publicly traded securities

    beginning of year $114,989 · end of year $114,989

  • 13 · Investments: program-related

    beginning of year $37,906,033 · end of year $38,909,867

  • 15 · Other assets

    beginning of year $24,862 · end of year $87,673

  • 17 · Accounts payable and accrued expenses

    beginning of year $17,394,519 · end of year $12,633,374

  • 23 · Secured mortgages and notes payable

    beginning of year $191,074,144 · end of year $184,444,675

  • 24 · Unsecured notes and loans payable

    end of year $6,330,680

  • 25 · Other liabilities

    beginning of year $11,457,087 · end of year $11,274,830

  • 29 · Capital stock, trust principal or current funds

    beginning of year $198,170 · end of year $191,275

  • 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 $99,139,093 · end of year $112,272,735

Mission and programs · 2024

Mission

SCI REMC IS A TRUSTED ELECTRIC COOPERATIVE SERVING OUR DIVERSE COMMUNITIES WITH INNOVATIVE ENERGY SOLUTIONS AND LIFE-ENHANCING SERVICES.

Activities or mission (Part I)

TO PROVIDE SAFE, RELIABLE, COST-EFFECTIVE ELECTRICITY AND ENERGY SOLUTIONS.

  • ELECTRIC DIVISION:PROVIDING RELIABLE ELECTRICITY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 35,667 ACTIVE SERVICES AT YEAR END.

  • FIBER DIVISION:A SEPERATE DIVISION OF THE COOPERATIVE WAS CREATED TO PROVIDE BROADBAND INTERNET SERVICES TO ITS MEMBERS THROUGH THE CONSTRUCTION OF A FIBER OPTIC NETWORK. THE FIRST CONNECTIONS BEGAN RECEIVING SERVICE DURING 2019. FIBER OPTIC BROADBAND SERVICES OF THIS DIVISION WILL BE PROVIDED TO MEMBERS ON A PATRONAGE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL TO THE EXTENT NET MARGINS WILL EXCEED CUMULATIVE LOSSES FOR SUCH DIVISION.

As filed on the 2024 return.

Listed in Part VII

  • Rex Franklin

    DIRECTOR

    Total calculated
    $34,139
    From this org
    $34,139
    From related orgs
    $0
    Other
    $0
    Hours/week
    10

  • Bruce Hamlin

    CHAIRMAN

    Total calculated
    $14,905
    From this org
    $14,905
    From related orgs
    $0
    Other
    $0
    Hours/week
    6.5

  • Jerry Pheifer

    SECRETARY-TREASURER

    Total calculated
    $9,606
    From this org
    $9,606
    From related orgs
    $0
    Other
    $0
    Hours/week
    7

  • Lisa Prosser

    DIRECTOR

    Total calculated
    $15,560
    From this org
    $15,560
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.5

  • Mark Smith

    VICE CHAIRMAN

    Total calculated
    $28,727
    From this org
    $28,727
    From related orgs
    $0
    Other
    $0
    Hours/week
    1.8

  • Kenneth Sebastian

    DIRECTOR

    Total calculated
    $14,885
    From this org
    $14,885
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Brad Shields

    DIRECTOR

    Total calculated
    $12,610
    From this org
    $12,610
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Michael Witte

    DIRECTOR

    Total calculated
    $9,156
    From this org
    $9,156
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Donald Lee Renner

    DIRECTOR

    Total calculated
    $12,860
    From this org
    $12,860
    From related orgs
    $0
    Other
    $0
    Hours/week
    12

  • James Tanneberger

    PRESIDENT & CEO

    Total calculated
    $456,993
    From this org
    $351,146
    From related orgs
    $0
    Other
    $105,847
    Hours/week
    60 + 0.5 related

    Schedule J breakdown matched by us

    Base
    $350,336
    Bonus
    $0
    Other
    $810
    Deferred
    $72,122
    Nontaxable benefits
    $33,725
    Filer's total
    $456,993

  • Randy Elliott

    CHIEF OPERATING OFFICER

    Total calculated
    $455,122
    From this org
    $271,040
    From related orgs
    $0
    Other
    $184,082
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $247,092
    Bonus
    $20,384
    Other
    $3,564
    Deferred
    $146,237
    Nontaxable benefits
    $37,845
    Filer's total
    $455,122

  • Charity Coffman

    VP OF FINANCE

    Total calculated
    $204,754
    From this org
    $153,103
    From related orgs
    $0
    Other
    $51,651
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $145,631
    Bonus
    $5,232
    Other
    $2,240
    Deferred
    $18,102
    Nontaxable benefits
    $33,549
    Filer's total
    $204,754

  • Tammy Haenlein

    VP OF MEMBER SERVICES

    Total calculated
    $253,506
    From this org
    $169,848
    From related orgs
    $0
    Other
    $83,658
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $158,795
    Bonus
    $5,387
    Other
    $5,666
    Deferred
    $48,912
    Nontaxable benefits
    $34,746
    Filer's total
    $253,506

  • Gregg Hopsicker

    VP OF DISTRIBUTION SERVICES

    Total calculated
    $312,690
    From this org
    $199,918
    From related orgs
    $0
    Other
    $112,772
    Hours/week
    46

    Schedule J breakdown matched by us

    Base
    $192,569
    Bonus
    $5,027
    Other
    $2,322
    Deferred
    $109,919
    Nontaxable benefits
    $2,853
    Filer's total
    $312,690

  • Marilou Idland

    VP OF HUMAN RESOURCES

    Total calculated
    $249,759
    From this org
    $195,395
    From related orgs
    $0
    Other
    $54,364
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $181,446
    Bonus
    $10,385
    Other
    $3,564
    Deferred
    $34,743
    Nontaxable benefits
    $19,621
    Filer's total
    $249,759

  • Cody Campbell

    JOURNEYMAN LINEWORKER

    Total calculated
    $211,168
    From this org
    $181,065
    From related orgs
    $0
    Other
    $30,103
    Hours/week
    57

    Schedule J breakdown matched by us

    Base
    $180,881
    Bonus
    $0
    Other
    $184
    Deferred
    $14,307
    Nontaxable benefits
    $15,796
    Filer's total
    $211,168

  • Chad Griffin

    LEAD LINE FOREMAN

    Total calculated
    $226,566
    From this org
    $164,175
    From related orgs
    $0
    Other
    $62,391
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $163,363
    Bonus
    $0
    Other
    $812
    Deferred
    $27,095
    Nontaxable benefits
    $35,296
    Filer's total
    $226,566

  • Aaron Hansen

    LINE FOREMAN

    Total calculated
    $213,874
    From this org
    $167,893
    From related orgs
    $0
    Other
    $45,981
    Hours/week
    53

    Schedule J breakdown matched by us

    Base
    $167,597
    Bonus
    $0
    Other
    $296
    Deferred
    $14,241
    Nontaxable benefits
    $31,740
    Filer's total
    $213,874

  • Bret Hopkins

    LINE FOREMAN

    Total calculated
    $206,421
    From this org
    $160,541
    From related orgs
    $0
    Other
    $45,880
    Hours/week
    52

    Schedule J breakdown matched by us

    Base
    $160,245
    Bonus
    $0
    Other
    $296
    Deferred
    $12,851
    Nontaxable benefits
    $33,029
    Filer's total
    $206,421

  • Andrew Polley

    LINE FOREMAN

    Total calculated
    $222,998
    From this org
    $173,713
    From related orgs
    $0
    Other
    $49,285
    Hours/week
    55

    Schedule J breakdown matched by us

    Base
    $172,016
    Bonus
    $0
    Other
    $1,697
    Deferred
    $15,333
    Nontaxable benefits
    $33,952
    Filer's total
    $222,998

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 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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)

PART II, COLUMN C:
INCLUDED IN THIS AMOUNT IS THE INCREASE IN ACTUARIAL VALUE OF BENEFITS PAYABLE UNDER A DEFINED BENEFIT RETIREMENT PLAN. THE CONTRIBUTION RATE FOR PARTICIPANTS IN THE NRECA R&S DEFINED BENEFIT PENSION PLAN ARE THE SAME FOR ALL INDIVIDUALS IN THIS MULTI-EMPLOYER PLAN. THE CHANGE IN ACTUARIAL VALUE FOR EACH PARTICIPANT, HOWEVER, VARIES WITH AGE. IN OTHER WORDS, THE OLDER A PLAN PARTICIPANT IS, THE GREATER THE INCREASE IN THAT INDIVIDUAL'S CHANGE IN ACTUARIAL VALUE, ALL OTHER THINGS BEING EQUAL. BECAUSE THIS RELATES TO A MULTI-EMPLOYER PLAN, CASH CONTRIBUTIONS TO THE PLAN IN LIEU OF THE ACTUARIAL INCREASE ARE EXPENSED IN THE FINANCIAL STATEMENTS. JAMES TANNEBERGER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 57,650 EMPLOYER CONTRIBUTION TO 401(K) PLAN 14,472 TOTAL REPORTED IN COLUMN C $ 72,122 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (57,650) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 59,563 EXPENSE TO THE COOPERATIVE $ 74,035 RANDY ELLIOT: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 133,693 EMPLOYER CONTRIBUTION TO 401(K) PLAN 12,544 TOTAL REPORTED IN COLUMN C $ 146,237 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (133,693) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 40,894 EXPENSE TO THE COOPERATIVE $ 54,438 GREG HOPSICKER: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 100,253 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,666 TOTAL REPORTED IN COLUMN C $ 109,919 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (100,253) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 33,715 EXPENSE TO THE COOPERATIVE $ 43,381 TAMMY HAENLEIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 40,642 EMPLOYER CONTRIBUTION TO 401(K) PLAN 8,270 TOTAL REPORTED IN COLUMN C $ 48,912 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (40,642) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 28,801 EXPENSE TO THE COOPERATIVE $ 37,071 MARILOU IDLAND: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 25,475 EMPLOYER CONTRIBUTION TO 401(K) PLAN 9,268 TOTAL REPORTED IN COLUMN C $ 34,743 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (25,475) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 32,280 EXPENSE TO THE COOPERATIVE $ 41,548 CHAD GRIFFIN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 21,536 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,559 TOTAL REPORTED IN COLUMN C $ 27,095 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (21,536) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 20,371 EXPENSE TO THE COOPERATIVE $ 25,930 ANDREW POLLEY: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 9,873 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,460 TOTAL REPORTED IN COLUMN C $ 15,333 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (9,873) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,181 EXPENSE TO THE COOPERATIVE $ 24,641 AARON HANSEN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 10,920 EMPLOYER CONTRIBUTION TO 401(K) PLAN 3,321 TOTAL REPORTED IN COLUMN C $ 14,241 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (10,920) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,055 EXPENSE TO THE COOPERATIVE $ 21,376 CODY CAMPBELL: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 8,931 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,376 TOTAL REPORTED IN COLUMN C $ 14,307 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (8,931) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 18,055 EXPENSE TO THE COOPERATIVE $ 23,431 BRET HOPKINS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 7,512 EMPLOYER CONTRIBUTION TO 401(K) PLAN 5,339 TOTAL REPORTED IN COLUMN C $ 12,851 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (7,512) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 19,181 EXPENSE TO THE COOPERATIVE $ 24,520 CHARITY COFFMAN: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN $ 10,540 EMPLOYER CONTRIBUTION TO 401(K) PLAN 7,562 TOTAL REPORTED IN COLUMN C $ 18,102 LESS: ACTUARIAL INCREASE IN DEFINED BENEFIT PLAN (10,540) ADD: CASH CONTRIBUTION TO DEFINED BENEFIT PLAN 24,353 EXPENSE TO THE COOPERATIVE $ 31,915

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

  • ELECTRONIC COMMUNICATION SYSTEMS

    $0

    TORNADO SIREN DONATION - POLES AND INSTALLATION WORK

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

  • SCI MEMBERSHIP COMMUNITY FUND INC

    501(C)(3) · DISBURSEMENT OF FUNDS FOR CHARITABLE PURPOSES IN THE COOP'S SERVICE AREA · IN · controlled entity

    Directly controlled by SOUTH CENTRAL INDIANA REMC

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.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • SCI SERVICES LLC

    RIGHT OF WAY MAINTENANCE · IN · income $0 · assets $0

    Directly controlled by SOUTH CENTRAL INDIANA REMC

Provenance

Return type
form_990
Tax year
2024
Filed
17 November 2025
IRS schema version
2024v5.2
Source object
202503219349319045

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