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Nonprofiteer
← NOBLE COUNTY RURAL ELECTRIC MEMBERSHIP CORP

Form 990 for tax year 2023

Filed by NOBLE COUNTY RURAL ELECTRIC MEMBERSHIP CORP.

Totals

Total revenue
$26,597,431
Total expenses
$26,024,581
Contributions and grants received
$0
Grants paid
$0
Program service revenue
$25,449,306
Investment income
$125,519
Other revenue
$1,022,606
Total assets, end of year
$43,334,145
Total liabilities, end of year
$15,928,660
Net assets or fund balances, end of year
$27,405,485
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 $25,449,306 · related or exempt $25,449,306 · 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 $101,299 · related or exempt $0 · unrelated business $0 · excluded $101,299

  • 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 $25,200

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

    securities $0 · other assets $980

  • 7c · Gain or loss

    securities $0 · other assets $24,220

  • 7d · Net gain or loss

    total $24,220 · related or exempt $24,220 · unrelated business $0 · excluded $0

  • 11a · Other revenue: CAPITAL CREDIT INCOME

    total $993,318 · related or exempt $0 · unrelated business $0 · excluded $993,318

  • 11b · Other revenue: MISCELLANEOUS INCOME

    total $29,288 · related or exempt $0 · unrelated business $0 · excluded $29,288

  • 11d · All other revenue

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

  • 11e · Other revenue, total

    $1,022,606

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $0

  • 4 · Benefits paid to or for members

    total $514,740

  • 5 · Compensation of officers, directors and key employees

    total $484,241

  • 7 · Other salaries and wages

    total $1,958,692

  • 8 · Pension plan contributions

    total $412,303

  • 9 · Other employee benefits

    total $458,505

  • 10 · Payroll taxes

    total $171,509

  • 11b · Fees: legal

    total $10,511

  • 11c · Fees: accounting

    total $15,700

  • 11d · Fees: lobbying

    total $2,000

  • 11g · Fees: other

    total $0

  • 12 · Advertising and promotion

    total $16,879

  • 13 · Office expenses

    total $89,408

  • 14 · Information technology

    total $303,703

  • 16 · Occupancy

    total $147,148

  • 17 · Travel

    total $107,323

  • 19 · Conferences, conventions and meetings

    total $31,279

  • 20 · Interest

    total $479,025

  • 22 · Depreciation, depletion and amortization

    total $1,745,787

  • 23 · Insurance

    total $73,003

  • 24a · Other expenses: COST OF POWER

    total $17,569,332

  • 24b · Other expenses: OPERATION & MAINT DISTRIBUTION

    total $770,180

  • 24c · Other expenses: ADMIN/CUSTOMER SERVICE/CUSTOMER ACCT

    total $528,334

  • 24d · Other expenses: PROPERTY/UTILITY RECEIPTS TAX

    total $134,979

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,417,316 · end of year $954,160

  • 4 · Accounts receivable

    beginning of year $2,687,960 · end of year $2,694,520

  • 8 · Inventories for sale or use

    beginning of year $448,730 · end of year $502,638

  • 9 · Prepaid expenses and deferred charges

    beginning of year $529,826 · end of year $636,853

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

    $52,968,344

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

    $25,379,932

  • 10c · Land, buildings and equipment, net

    beginning of year $27,488,508 · end of year $27,588,412

  • 12 · Investments: other securities

    beginning of year $10,049,275 · end of year $10,953,100

  • 15 · Other assets

    beginning of year $4,462 · end of year $4,462

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,872,791 · end of year $1,656,987

  • 23 · Secured mortgages and notes payable

    beginning of year $11,578,649 · end of year $11,779,333

  • 25 · Other liabilities

    beginning of year $2,401,004 · end of year $2,492,340

  • 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 $2,328,370 · end of year $2,609,108

  • 31 · Retained earnings, endowment or other funds

    beginning of year $24,445,263 · end of year $24,796,377

Mission and programs · 2023

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 2023 return.

Listed in Part VII

  • Ronald Raypole

    PRESIDENT & CEO

    Total calculated
    $336,757
    From this org
    $240,711
    From related orgs
    $0
    Other
    $96,046
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $210,842
    Bonus
    $17,704
    Other
    $12,165
    Deferred
    $64,476
    Nontaxable benefits
    $31,570
    Filer's total
    $336,757

  • Douglas Dickmeyer

    MANAGER OF OPERATIONS

    Total calculated
    $216,375
    From this org
    $152,752
    From related orgs
    $0
    Other
    $63,623
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $143,694
    Bonus
    $7,293
    Other
    $1,766
    Deferred
    $34,437
    Nontaxable benefits
    $29,185
    Filer's total
    $216,375

  • Sarah Dreibelbis

    OFFICE MANAGER

    Total calculated
    $177,992
    From this org
    $109,959
    From related orgs
    $0
    Other
    $68,033
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $102,809
    Bonus
    $5,683
    Other
    $1,467
    Deferred
    $37,891
    Nontaxable benefits
    $30,142
    Filer's total
    $177,992

  • Douglas Eggl

    LINEMAN

    Total calculated
    $167,878
    From this org
    $121,808
    From related orgs
    $0
    Other
    $46,070
    Hours/week
    47

    Schedule J breakdown matched by us

    Base
    $119,097
    Bonus
    $1,529
    Other
    $1,182
    Deferred
    $21,069
    Nontaxable benefits
    $25,001
    Filer's total
    $167,878

  • Adam Chitwood

    MANAGER OF FINANCE/ACCOUNTING

    Total calculated
    $159,364
    From this org
    $122,133
    From related orgs
    $0
    Other
    $37,231
    Hours/week
    45

    Schedule J breakdown matched by us

    Base
    $116,115
    Bonus
    $5,662
    Other
    $355
    Deferred
    $11,668
    Nontaxable benefits
    $25,564
    Filer's total
    $159,364

  • Justin Fry

    LINEMAN

    Total calculated
    $146,969
    From this org
    $113,614
    From related orgs
    $0
    Other
    $33,355
    Hours/week
    45

  • Cody Kirkpatrick

    LINEMAN

    Total calculated
    $143,495
    From this org
    $107,491
    From related orgs
    $0
    Other
    $36,004
    Hours/week
    43

  • George Bennett

    DIRECTOR

    Total calculated
    $11,165
    From this org
    $11,165
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.2

  • Richard Robertson

    CHAIRMAN

    Total calculated
    $10,650
    From this org
    $10,650
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Jay Wysong

    DIRECTOR

    Total calculated
    $10,600
    From this org
    $10,600
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.8

  • William Knox

    TREASURER

    Total calculated
    $10,220
    From this org
    $10,220
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.3

  • Joe Hutsell

    DIRECTOR

    Total calculated
    $10,005
    From this org
    $10,005
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.2

  • Larry Ott

    DIRECTOR

    Total calculated
    $10,005
    From this org
    $10,005
    From related orgs
    $0
    Other
    $0
    Hours/week
    3.3

  • Mark Demske

    DIRECTOR

    Total calculated
    $9,440
    From this org
    $9,440
    From related orgs
    $0
    Other
    $0
    Hours/week
    4.4

  • Doug Burnworth

    VICE CHAIRMAN

    Total calculated
    $9,408
    From this org
    $9,408
    From related orgs
    $0
    Other
    $0
    Hours/week
    5.1

  • Andrew Strack

    SECRETARY

    Total calculated
    $9,285
    From this org
    $9,285
    From related orgs
    $0
    Other
    $0
    Hours/week
    2.3

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

  • 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 2023 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
2023
Filed
13 May 2024
IRS schema version
2023v5.0
Source object
202421349349303257

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