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Nonprofiteer
← DARKE RURAL ELECTRIC COOPERATIVE INC

Form 990 for tax year 2024

Filed by DARKE RURAL ELECTRIC COOPERATIVE INC.

Totals

Total revenue
$19,701,033
Total expenses
$19,701,033
Contributions and grants received
$0
Grants paid
$6,000
Program service revenue
$19,191,805
Investment income
$61,323
Other revenue
$447,905
Total assets, end of year
$45,466,343
Total liabilities, end of year
$25,486,935
Net assets or fund balances, end of year
$19,979,408
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$19,701,033

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: SALE OF ELECTRICITY

    total $19,191,805 · related or exempt $19,191,805 · 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 $61,323 · related or exempt $61,323 · unrelated business $0 · excluded $0

  • 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 $38,817 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $38,817 · personal property $0

  • 6d · Net rental income or loss

    total $38,817 · related or exempt $38,817 · unrelated business $0 · excluded $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 11a · Other revenue: PATRONAGE CAPITAL

    total $408,100 · related or exempt $408,100 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $988 · related or exempt $988 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $409,088

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $0

  • 2 · Grants to domestic individuals

    total $6,000

  • 4 · Benefits paid to or for members

    total $1,260,686

  • 5 · Compensation of officers, directors and key employees

    total $1,041,353

  • 7 · Other salaries and wages

    total $999,934

  • 8 · Pension plan contributions

    total $353,060

  • 9 · Other employee benefits

    total $181,470

  • 10 · Payroll taxes

    total $310,491

  • 11b · Fees: legal

    total $860

  • 11c · Fees: accounting

    total $26,087

  • 13 · Office expenses

    total $75,686

  • 14 · Information technology

    total $289,453

  • 20 · Interest

    total $741,291

  • 22 · Depreciation, depletion and amortization

    total $1,190,594

  • 24a · Other expenses: PURCHASED POWER

    total $11,535,766

  • 24b · Other expenses: KWH CONSUMPTION TAX

    total $571,488

  • 24c · Other expenses: OPERATING & MAINTENANCE EXP

    total $1,107,265

  • 24e · All other expenses

    total $9,549

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $10,000 · end of year $10,000

  • 2 · Savings and temporary cash investments

    beginning of year $613,051 · end of year $429,634

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $1,453,295 · end of year $1,728,442

  • 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 $839,579 · end of year $627,321

  • 9 · Prepaid expenses and deferred charges

    beginning of year $120,083 · end of year $209,149

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

    $43,750,606

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

    $10,179,865

  • 10c · Land, buildings and equipment, net

    beginning of year $32,075,155 · end of year $33,570,741

  • 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 $7,938,286 · end of year $7,884,732

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $882,484 · end of year $1,006,324

  • 17 · Accounts payable and accrued expenses

    beginning of year $2,028,010 · end of year $3,229,083

  • 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 $22,604,107 · end of year $22,257,852

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $43,840 · end of year $44,000

  • 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 $19,255,976 · end of year $19,935,408

Mission and programs · 2024

Mission

TO PROVIDE SAFE, AFFORDABLE AND RELIABLE ELECTRIC TO THE RURAL AREAS OF DARKE, PREBLE AND MERCER COUNTIES IN OHIO.

Activities or mission (Part I)

DARKE RURAL ELECTRIC COOPERATIVE, INC. IS AN ELECTRIC COOPERATIVE, PROVIDING ELECTRIC SERVICE TO OVER 4,370 MEMBERS IN DARKE, PREBLE AND MERCER COUNTIES IN OHIO.

  • TO PROVIDE SAFE, AFFORDABLE AND RELIABLE ELECTRIC TO THE RURAL AREAS OF DARKE, PREBLE AND MERCER COUNTIES IN OHIO

    Expenses $19,701,033

As filed on the 2024 return.

Listed in Part VII

  • Larry Scholl

    LINEMAN

    Total calculated
    $243,597
    From this org
    $127,738
    From related orgs
    $0
    Other
    $115,859
    Hours/week
    46.9

    Schedule J breakdown matched by us

    Base
    $127,522
    Bonus
    $217
    Other
    $0
    Deferred
    $91,187
    Nontaxable benefits
    $24,672
    Filer's total
    $243,598

  • John Blinn

    LINE FOREMAN

    Total calculated
    $242,685
    From this org
    $139,200
    From related orgs
    $0
    Other
    $103,485
    Hours/week
    41.5

    Schedule J breakdown matched by us

    Base
    $129,114
    Bonus
    $217
    Other
    $9,870
    Deferred
    $100,776
    Nontaxable benefits
    $2,710
    Filer's total
    $242,687

  • Ted Holsapple

    CEO (Retired 1/3/25)

    Total calculated
    $227,580
    From this org
    $177,034
    From related orgs
    $0
    Other
    $50,546
    Hours/week
    45.5

    Schedule J breakdown matched by us

    Base
    $165,638
    Bonus
    $203
    Other
    $11,192
    Deferred
    $47,010
    Nontaxable benefits
    $3,537
    Filer's total
    $227,580

  • Roy Endicott Sr

    LINEMAN

    Total calculated
    $213,674
    From this org
    $131,726
    From related orgs
    $0
    Other
    $81,948
    Hours/week
    46.7

    Schedule J breakdown matched by us

    Base
    $131,509
    Bonus
    $217
    Other
    $0
    Deferred
    $72,483
    Nontaxable benefits
    $9,466
    Filer's total
    $213,675

  • Bruce Burke

    DIRECTOR OF ENGINEERING/IT

    Total calculated
    $188,801
    From this org
    $117,429
    From related orgs
    $0
    Other
    $71,372
    Hours/week
    51.1

    Schedule J breakdown matched by us

    Base
    $117,213
    Bonus
    $217
    Other
    $0
    Deferred
    $45,316
    Nontaxable benefits
    $26,056
    Filer's total
    $188,802

  • Brad Flora

    COO (assumed CEO role 1/3/25)

    Total calculated
    $183,269
    From this org
    $134,692
    From related orgs
    $0
    Other
    $48,577
    Hours/week
    44

    Schedule J breakdown matched by us

    Base
    $124,160
    Bonus
    $217
    Other
    $10,315
    Deferred
    $45,028
    Nontaxable benefits
    $3,549
    Filer's total
    $183,269

  • Niles Swank

    DIRECTOR OF OPERATIONS

    Total calculated
    $163,185
    From this org
    $132,468
    From related orgs
    $0
    Other
    $30,717
    Hours/week
    41.5

    Schedule J breakdown matched by us

    Base
    $121,936
    Bonus
    $217
    Other
    $10,315
    Deferred
    $27,531
    Nontaxable benefits
    $3,186
    Filer's total
    $163,185

  • Pam Holsapple

    CFO

    Total calculated
    $28,127
    From this org
    $23,481
    From related orgs
    $0
    Other
    $4,646
    Hours/week
    41

  • Tod Carroll

    VICE PRESIDENT BOARD OF TRUSTEES

    Total calculated
    $10,500
    From this org
    $10,500
    From related orgs
    $0
    Other
    $0
    Hours/week
    5

  • Robert Godown

    TRUSTEE

    Total calculated
    $8,795
    From this org
    $8,795
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Matt Webster

    PRESIDENT BOARD OF TRUSTEES

    Total calculated
    $8,590
    From this org
    $8,590
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • David Coons

    TRUSTEE

    Total calculated
    $7,920
    From this org
    $7,920
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Stephen Vanzant

    TRUSTEE

    Total calculated
    $7,870
    From this org
    $7,870
    From related orgs
    $0
    Other
    $0
    Hours/week
    4

  • Michelle Marker

    SECRETARY & TREASURER BOARD OF TRUSTEES

    Total calculated
    $7,790
    From this org
    $7,790
    From related orgs
    $0
    Other
    $0
    Hours/week
    3

  • Aaron Siefring

    TRUSTEE

    Total calculated
    $6,120
    From this org
    $6,120
    From related orgs
    $0
    Other
    $0
    Hours/week
    2

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 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

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.

Provenance

Return type
form_990
Tax year
2024
Filed
7 October 2025
IRS schema version
2024v5.0
Source object
202512809349301581

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