Civic Intelligence

Rea Energy Cooperative Inc

990 • Fiscal year 2015 • EIN 25-0809685

Jan 01, 2015 to Dec 31, 2015 • Filed on Oct 31, 2016

Organization ProfileWWW.REAENERGY.COM
75 Airport Road PO Box 70Indiana, PA 15701

(724) 349-4800

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

25th percentile

0.49x

Higher debt load relative to assets than 25% of similar nonprofits.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

3.12x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2015

Net Margin

96th percentile

16%

Higher net margin than 96% of similar nonprofits.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2015

Top Officer Pay

69th percentile

$343,462

Higher top officer pay than 69% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2015

Asset Growth

31st percentile

1.2%

Faster asset growth than 31% of similar nonprofits.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Revenue Growth

56th percentile

-0.1%

Faster revenue growth than 56% of similar nonprofits.

2015 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2014 to 2015

Balance Sheet
Liabilities / Assets25th percentile

Assets

Up

$109,008,190

Up $1,282,110 (+1.2%) from 2014

Net Assets

Up

$56,078,946

Up $2,641,513 (+4.9%) from 2014

Liabilities

Down

$52,929,244

Down $1,359,403 (-2.5%) from 2014

Revenue And Expenses
Liabilities / Revenue96th percentileNet Margin96th percentile

Revenue

Down

$16,971,859

Down $25,141 (-0.1%) from 2014

Expenses

Up

$14,333,649

Up $168,611 (+1.2%) from 2014

Net Income

Down

$2,638,210

Down $193,752 (-6.8%) from 2014

Historical Trend

Balance Sheet Trend

Asset Growth31st percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$200M$150M$100M$50M$0Assets 2010: $89,938,217Liabilities 2010: $45,085,714Net Assets 2010: $44,852,5032010Assets 2011: $95,836,716Liabilities 2011: $48,522,137Net Assets 2011: $47,314,5792011Assets 2012: $96,030,081Liabilities 2012: $49,316,956Net Assets 2012: $46,713,1252012Assets 2013: $106,705,314Liabilities 2013: $56,102,943Net Assets 2013: $50,602,3712013Assets 2014: $107,726,080Liabilities 2014: $54,288,647Net Assets 2014: $53,437,4332014Assets 2015: $109,008,190Liabilities 2015: $52,929,244Net Assets 2015: $56,078,9462015Assets 2016: $111,861,419Liabilities 2016: $53,867,188Net Assets 2016: $57,994,2312016Assets 2017: $118,539,326Liabilities 2017: $57,105,474Net Assets 2017: $61,433,8522017Assets 2018: $121,804,558Liabilities 2018: $62,730,046Net Assets 2018: $59,074,5122018Assets 2019: $124,388,314Liabilities 2019: $64,825,345Net Assets 2019: $59,562,9692019Assets 2020: $128,322,658Liabilities 2020: $63,041,159Net Assets 2020: $65,281,4992020Assets 2021: $139,260,164Liabilities 2021: $66,972,022Net Assets 2021: $72,288,1422021Assets 2022: $155,432,228Liabilities 2022: $76,587,897Net Assets 2022: $78,844,3312022Assets 2023: $156,077,980Liabilities 2023: $73,591,960Net Assets 2023: $82,486,0202023Assets 2024: $162,716,217Liabilities 2024: $75,736,359Net Assets 2024: $86,979,8582024

Highlighted filing

2015

Assets$109,008,190
Liabilities$52,929,244
Net Assets$56,078,946
Open 2015 Filing

Operations Trend

Revenue Growth56th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$60M$40M$20M$0-$20MExpenses 2010: $11,954,3582010Expenses 2011: $12,919,3812011Expenses 2012: $13,943,2982012Revenue 2013: $16,804,257Expenses 2013: $12,918,263Net Income 2013: $3,885,9942013Revenue 2014: $16,997,000Expenses 2014: $14,165,038Net Income 2014: $2,831,9622014Revenue 2015: $16,971,859Expenses 2015: $14,333,649Net Income 2015: $2,638,2102015Revenue 2016: $16,819,710Expenses 2016: $14,442,150Net Income 2016: $2,377,5602016Revenue 2017: $20,180,985Expenses 2017: $16,742,150Net Income 2017: $3,438,8352017Revenue 2018: $20,695,140Expenses 2018: $23,057,958Net Income 2018: -$2,362,8182018Revenue 2019: $23,027,051Expenses 2019: $22,539,124Net Income 2019: $487,9272019Revenue 2020: $25,029,088Expenses 2020: $19,313,720Net Income 2020: $5,715,3682020Revenue 2021: $26,641,958Expenses 2021: $19,638,480Net Income 2021: $7,003,4782021Revenue 2022: $26,123,368Expenses 2022: $19,569,761Net Income 2022: $6,553,6072022Revenue 2023: $53,733,786Expenses 2023: $50,094,653Net Income 2023: $3,639,1332023Revenue 2024: $55,275,238Expenses 2024: $50,783,873Net Income 2024: $4,491,3652024

Highlighted filing

2015

Revenue$16,971,859
Expenses$14,333,649
Net Income$2,638,210
Open 2015 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2015 to Dec 31, 2015
Signed
Oct 31, 2016
Return Version
2015v2.1
Gross Receipts
$41,133,000
Mission and Program Overview

Mission

Rea's mission is to provide electricity to members in rural pennsylvania on a cooperative basis.

Providing electricity to members in rural pennsylvania on a cooperative basis.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$83,633,616$86,837,278▲ $3,203,662
Rtn Earn Endowment Incm Other Fnds$53,342,868$55,984,616▲ $2,641,748
Investments Other Securities$10,250,818$10,442,470▲ $191,652
Accounts Receivable$4,889,739$4,382,546▼ $507,193
Savings and Temporary Cash Investments$3,859,768$1,999,089▼ $1,860,679
Inventories for Sale or Use$1,851,604$1,744,150▼ $107,454
Cash and Non-Interest-Bearing Accounts$654,308$1,499,104▲ $844,796
Prepaid Expenses and Deferred Charges$383,431$170,481▼ $212,950
Cap Stk Tr Prin Current Funds$94,565$94,330▼ $235
Total Assets$107,726,080$109,008,190▲ $1,282,110
Other Assets Total$2,202,796$1,933,072▼ $269,724
Liabilities
Mortgage Notes Payable Secured by Investment Property$48,800,160$47,725,197▼ $1,074,963
Accounts Payable and Accrued Expenses$4,059,152$3,704,653▼ $354,499
Other Liabilities$1,429,335$1,499,394▲ $70,059
Total Liabilities$54,288,647$52,929,244▼ $1,359,403
Net Assets / Fund Balance
Total Net Assets Fund Balance$53,437,433$56,078,946▲ $2,641,513
Total Liabilities and Net Assets / Fund Balance$107,726,080$109,008,190▲ $1,282,110

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$83,776,538$16,929,514$100,706,052
Equipment$2,077,524$6,045,777$8,123,301
Buildings$944,537$2,553,622$3,498,159
Land$38,679-$38,679
Other Securities$24,882--
Compensation and Service Providers
Top Officer Pay69th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Gary GrindleFormer CEOFT$275,252$68,210$343,462
Thomas BorusiewiczFinance, HrFT$206,225$47,833$254,058
Thomas BorusiewiczFinance, Hr & It Mgr-$206,225$47,833$254,058
Chad CarrickPresident anFT$126,657$42,890$169,547
Chad CarrickPresident and CEO-$126,657$42,890$169,547
Robert NeeseBoard TreasuPT$23,113-$23,113
Herman BlakleyBoard Chairm-$22,912-$22,912
Wayne FarabaughBoard Direct-$21,313-$21,313
Roy EckenrodBoard DirectPT$20,511-$20,511
Michael BertolinoBoard Vice CPT$20,313-$20,313
Jack RisingBoard DirectPT$20,110-$20,110
John LearnBoard Direct-$19,513-$19,513
James ShopeBoard DirectPT$19,113-$19,113
James HarteisBoard DirectPT$18,512-$18,512

Highest Paid Contractors

ContractorServicesLocationCompensation
Townsend Tree Service INCRight Of WayPO BOX 128, Parker City, IN 47368-0128$1,549,395
Bnf Powerline Construction INCElec Ln Constr361 BRUMBAUGH ROAD, Roaring Spring, PA 16673$629,844
Asplundh Tree Expert CompanyRight Of Way708 BLAIR MILL ROAD, Willow Grove, PA 19090$141,900
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$72,541
Other Revenue
$16,899,318
Change in Net Assets
$2,638,210

Audited Revenue Reconciliation

Revenue per Audited Statements
$16,971,859
Revenue Not Reported on Form 990
$24,161,141
Total Revenue per Audited Statements
$41,133,000
Total Revenue per Form 990
$16,971,859
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$13,381,172
Salaries, Compensation, and Employee Benefits$952,477
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$3,047,315
Interest---$1,808,845
Other Expenses---$1,106,725
Current Officers, Directors, Trustees, and Key Employees---$952,477
All Other Expenses---$801,646
Total Functional Expenses$0$0$0$14,333,649

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$38,494,790
Expenses Not Reported on Form 990$24,161,141
Expenses per Audited Statements$14,333,649
Total Expenses per Form 990$14,333,649
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Interested-Person Transactions

Interested PartyRelationshipDescriptionShared RevenueAmount
Allegheny Electric Cooperative IncBoard DirectorPower SupplierNo$24,161,141
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Operating Reserve-storm Damage$500,000
Deferred Credits$395,009
Accum Prov-retirement Benefit Oblig$275,829
Customer Deposits & Prepayments$208,026
Accum Prov-deferred Compensation$120,530
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“Rea energy cooperative is governed by a nine memnber board of directors. Members of rea energy cooperative elects the directors to four year terms. According to the bylaws of the rea energy cooperative, "in the event of the dissolution or liquidation of the cooperative, after all outstanding indebtedness of the cooperative shall have been paid, outstanding capital credits shall be returned without priority on a prorata basis before any payments are made on account or property rights of patrons".”

Form 990, Page 6, Part VI, Line 7A

“Members of rea energy cooperative elect the board of directors to staggered four year terms.”

Form 990, Page 6, Part VI, Line 7B

“According to the bylaws of rea energy cooperative, "the cooperative may sell, lease, lease sell, exchange or otherwise dispose of all or substantially all of its assets only when authorized by the affirmative vote of two-thirds of all members of the cooperative".”

Form 990, Page 6, Part VI, Line 11B

“The ceo of the cooperative will review and approve the form 990 prior to signing the form 990 and filing with the internal revenue service. The form 990 is provided to board of directors for review.”

Form 990, Page 6, Part VI, Line 12C

“All board of directors and employees are required to fill out and sign the form detailing possible conflicts or stating that none exist.”

Form 990, Page 6, Part VI, Line 15A

“The compensation for the ceo of the cooperative is reviewed annually by the board of directors, using what other general managers and ceo's employed by electric cooperatives within the state of pennsylvania are earning as a guide.”

Form 990, Page 6, Part VI, Line 15B

“The compensation for key employees of the cooperative is reviewed annually by the ceo.”

Form 990, Page 6, Part VI, Line 19

“The bylaws of rea energy cooperative are available for review on the rea energy cooperative website at www.reaenergy.com. The form 990 is available to the public upon request. Financial information is presented in "penn lines magazine". Penn lines magazine is a monthly magazine distributed by our statewide organization.”

Filing and Contact Details

Filer

Filer Name
Rea Energy Cooperative Inc
EIN
25-0809685
Phone
7243494800
Address
75 AIRPORT ROAD PO BOX 70, INDIANA, PA 15701

Signing Officer

Name
Chad Carrick
Title
President and CEO
Phone
7243494800
Signed
2016-10-31

Organization Details

Principal Officer
Herman Blakley
Formed
1937
Legal Domicile
Pa
Voting Board Members
9
Independent Board Members
9
Employees
74

Preparer

Firm
Barnes Saly & Company Pc
Address
637 FERNDALE AVENUE SUITE 100, JOHNSTOWN, PA 15905-3999
Preparer
Kevin F Kroskie CPA
Phone
8142881544
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Donated capital 3,538 membership fees -235 total 3,303”

Financial Statement Notes

Schedule D, Page 3, Part X

“Rea energy is exempt from federal and state income taxes pursuant to section 501(c)(12) of the internal revenue code as long as more than 85 percent of revenue is received from its members. Accordingly, no provision for income taxes has been made in the consolidated financial statements. Its for-profit subsidiary is responsible for income taxes on any taxable earnings. These taxes resulting from operations are not considered to be significant. Management has analyzed the tax positions taken by rea energy and has concluded that as of december 31, 2015, there are no uncertain tax positions taken or expected to be taken that would require recognition of a liability or disclosure in the financial statements. Rea energy's income tax returns are subject to review and examination by federal and state authorities. Rea energy is not aware of any activities that would jeopardize its tax-exempt status. Rea energy's tax returns for the years 2012 and forward are open to examination by federal and state authorities.”

Schedule D, Page 4, Part XI, Line 2D

“Cost of goods sold - purchased power 24,161,141”

Schedule D, Page 4, Part XII, Line 2D

“Cost of goods sold - purchased power 24,161,141”

Raw XML AppendixShowing 400 of 506 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Form990PartVIISectionAGrp/TitleTxt0BOARD TREASU
IRS990/Form990PartVIISectionAGrp/TitleTxt1BOARD CHAIRM
IRS990/Form990PartVIISectionAGrp/TitleTxt2BOARD DIRECT
IRS990/Form990PartVIISectionAGrp/TitleTxt3BOARD DIRECT
IRS990/Form990PartVIISectionAGrp/TitleTxt4BOARD VICE C
IRS990/Form990PartVIISectionAGrp/TitleTxt5BOARD DIRECT
IRS990/Form990PartVIISectionAGrp/TitleTxt6BOARD DIRECT
IRS990/Form990PartVIISectionAGrp/TitleTxt7BOARD DIRECT
IRS990/Form990PartVIISectionAGrp/TitleTxt8BOARD DIRECT
IRS990/Form990PartVIISectionAGrp/TitleTxt9FORMER CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt10PRESIDENT AN
IRS990/Form990PartVIISectionAGrp/TitleTxt11FINANCE, HR
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IRS990ScheduleD/EquipmentGrp/DepreciationAmt06045777
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IRS990ScheduleD/ExpensesSubtotalAmt014333649
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt4120530
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0OPERATING RESERVE-STORM DAMAGE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1DEFERRED CREDITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCUM PROV-RETIREMENT BENEFIT OBLIG
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3CUSTOMER DEPOSITS & PREPAYMENTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc4ACCUM PROV-DEFERRED COMPENSATION
IRS990ScheduleD/OtherRevenueAmt024161141
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt08735294
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt11031012
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt2298392
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt3166735
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt4131639
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt528217
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt626299
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt724882
IRS990ScheduleD/OtherSecuritiesGrp/Desc0PATR CAP CR-ALLEGHENY ELECTRIC COOP
IRS990ScheduleD/OtherSecuritiesGrp/Desc1CAPITAL TERM CERTIFICATES
IRS990ScheduleD/OtherSecuritiesGrp/Desc2PATR CAP CR-NATIONAL RURAL UTILITIES
IRS990ScheduleD/OtherSecuritiesGrp/Desc3PATR CAP CR- FEDERATED RURAL ELECT
IRS990ScheduleD/OtherSecuritiesGrp/Desc4PATR CAP CR-UNITED UTIL SUPPLY COOP
IRS990ScheduleD/OtherSecuritiesGrp/Desc5PATR CAP CR-OTHER
IRS990ScheduleD/OtherSecuritiesGrp/Desc6INVESTMENT IN SUBSIDIARY
IRS990ScheduleD/OtherSecuritiesGrp/Desc7OTHER
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd1C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd2C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd3C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd4C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd5C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd6C
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd7C
IRS990ScheduleD/RevenueNotReportedAmt024161141
IRS990ScheduleD/RevenueSubtotalAmt016971859
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0REA ENERGY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES PURSUANT TO SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AS LONG AS MORE THAN 85 PERCENT OF REVENUE IS RECEIVED FROM ITS MEMBERS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ITS FOR-PROFIT SUBSIDIARY IS RESPONSIBLE FOR INCOME TAXES ON ANY TAXABLE EARNINGS. THESE TAXES RESULTING FROM OPERATIONS ARE NOT CONSIDERED TO BE SIGNIFICANT. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY REA ENERGY AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2015, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. REA ENERGY'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. REA ENERGY IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. REA ENERGY'S TAX RETURNS FOR THE YEARS 2012 AND FORWARD ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1COST OF GOODS SOLD - PURCHASED POWER 24,161,141
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2COST OF GOODS SOLD - PURCHASED POWER 24,161,141
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XI, LINE 2D
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2SCHEDULE D, PAGE 4, PART XII, LINE 2D
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IRS990ScheduleD/TotalBookValueSecuritiesAmt010442470
IRS990ScheduleD/TotalExpensesPerForm990Amt014333649
IRS990ScheduleD/TotalLiabilityAmt01499394
IRS990ScheduleD/TotalRevenuePerForm990Amt016971859
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt041133000
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt038494790
IRS990ScheduleJ/BoardOrCommitteeApprovalInd0X
IRS990ScheduleJ/CompensationSurveyInd0X
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt247833
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0GARY GRINDLE
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1CHAD CARRICK
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2THOMAS BORUSIEWICZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0FORMER CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PRESIDENT AND CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2FINANCE, HR & IT MGR
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IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/NameOfInterested/PersonNm0ALLEGHENY ELECTRIC COOPERATIVE INC
IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/RelationshipDescriptionTxt0BOARD DIRECTOR
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IRS990ScheduleL/BusTrInvolveInterestedPrsnGrp/TransactionDesc0POWER SUPPLIER
IRS990ScheduleL/SupplementalInformationDetail/ExplanationTxt0SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (D) DESCRIPTION OF TRANSACTION: JIM HARTEIS IS A BOARD MEMBER OF ALLEGHENY ELECTRIC COOPERATIVE, INC. ALLEGHENY IS A GENERATION AND TRANSMISSION COOPERATIVE WHICH WAS FORMED FOR THE PURPOSE OF SECURING WHOLESALE ELECTRIC ENERGY AND TRANSMISSION SERVICES ON BEHALF OF THE DISTRIBUTION COOPERATIVES, SUCH AS REA ENERGY COOPERATIVE, INC. EACH OF THE MEMBER DISTRIBUTION COOPERATIVES HAS A REPRESENTATIVE ON THE ALLEGHENY ELECTRIC COOPERATIVE BOARD OF DIRECTORS. EVERY ALLEGHENY DIRECTOR IS ALSO A DIRECTOR OF ONE OF THE 14 DISTRIBUTION COOPERATIVES. REA ENERGY COOPERATIVE PURCHASES ITS WHOLESALE ELECTRICITY FROM ALLEGHENY ELECTRIC COOPERATIVE, INC.
IRS990ScheduleL/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE L, PART V
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0REA ENERGY COOPERATIVE IS GOVERNED BY A NINE MEMNBER BOARD OF DIRECTORS. MEMBERS OF REA ENERGY COOPERATIVE ELECTS THE DIRECTORS TO FOUR YEAR TERMS. ACCORDING TO THE BYLAWS OF THE REA ENERGY COOPERATIVE, "IN THE EVENT OF THE DISSOLUTION OR LIQUIDATION OF THE COOPERATIVE, AFTER ALL OUTSTANDING INDEBTEDNESS OF THE COOPERATIVE SHALL HAVE BEEN PAID, OUTSTANDING CAPITAL CREDITS SHALL BE RETURNED WITHOUT PRIORITY ON A PRORATA BASIS BEFORE ANY PAYMENTS ARE MADE ON ACCOUNT OR PROPERTY RIGHTS OF PATRONS".
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS OF REA ENERGY COOPERATIVE ELECT THE BOARD OF DIRECTORS TO STAGGERED FOUR YEAR TERMS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ACCORDING TO THE BYLAWS OF REA ENERGY COOPERATIVE, "THE COOPERATIVE MAY SELL, LEASE, LEASE SELL, EXCHANGE OR OTHERWISE DISPOSE OF ALL OR SUBSTANTIALLY ALL OF ITS ASSETS ONLY WHEN AUTHORIZED BY THE AFFIRMATIVE VOTE OF TWO-THIRDS OF ALL MEMBERS OF THE COOPERATIVE".
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE CEO OF THE COOPERATIVE WILL REVIEW AND APPROVE THE FORM 990 PRIOR TO SIGNING THE FORM 990 AND FILING WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 IS PROVIDED TO BOARD OF DIRECTORS FOR REVIEW.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL BOARD OF DIRECTORS AND EMPLOYEES ARE REQUIRED TO FILL OUT AND SIGN THE FORM DETAILING POSSIBLE CONFLICTS OR STATING THAT NONE EXIST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE COMPENSATION FOR THE CEO OF THE COOPERATIVE IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS, USING WHAT OTHER GENERAL MANAGERS AND CEO'S EMPLOYED BY ELECTRIC COOPERATIVES WITHIN THE STATE OF PENNSYLVANIA ARE EARNING AS A GUIDE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE COMPENSATION FOR KEY EMPLOYEES OF THE COOPERATIVE IS REVIEWED ANNUALLY BY THE CEO.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE BYLAWS OF REA ENERGY COOPERATIVE ARE AVAILABLE FOR REVIEW ON THE REA ENERGY COOPERATIVE WEBSITE AT WWW.REAENERGY.COM. THE FORM 990 IS AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL INFORMATION IS PRESENTED IN "PENN LINES MAGAZINE". PENN LINES MAGAZINE IS A MONTHLY MAGAZINE DISTRIBUTED BY OUR STATEWIDE ORGANIZATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8DONATED CAPITAL 3,538 MEMBERSHIP FEES -235 TOTAL 3,303
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8FORM 990, PART XI, LINE 9
IRS990ScheduleR/AssetExchangeInd0false
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd0false
IRS990ScheduleR/AssetSaleToOtherOrgInd0false

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2015 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$109,008,190
Liabilities
$52,929,244
Net assets
$56,078,946
Revenue
$16,971,859
Expenses
$14,333,649
Net income
$2,638,210
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$163$75.7$87.0$55.3$50.8$4.49
2023Detailed filing. Detailed filing data is available for this year.$156$73.6$82.5$53.7$50.1$3.64
2022Detailed filing. Detailed filing data is available for this year.$155$76.6$78.8$26.1$19.6$6.55
2021Detailed filing. Detailed filing data is available for this year.$139$67.0$72.3$26.6$19.6$7.00
2020Detailed filing. Detailed filing data is available for this year.$128$63.0$65.3$25.0$19.3$5.72
2019Detailed filing. Detailed filing data is available for this year.$124$64.8$59.6$23.0$22.5$0.49
2018Detailed filing. Detailed filing data is available for this year.$122$62.7$59.1$20.7$23.1$2.36
2017Detailed filing. Detailed filing data is available for this year.$119$57.1$61.4$20.2$16.7$3.44
2016Detailed filing. Detailed filing data is available for this year.$112$53.9$58.0$16.8$14.4$2.38
2015Detailed filing. Detailed filing data is available for this year.$109$52.9$56.1$17.0$14.3$2.64
2014Detailed filing. Detailed filing data is available for this year.$108$54.3$53.4$17.0$14.2$2.83
2013Detailed filing. Detailed filing data is available for this year.$107$56.1$50.6$16.8$12.9$3.89
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$96.0$49.3$46.7$13.9
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$95.8$48.5$47.3$12.9
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$89.9$45.1$44.9$12.0