Civic Intelligence

Clark County Remc

990 • Fiscal year 2022 • EIN 35-0230915

Jan 01, 2022 to Dec 31, 2022 • Filed on May 03, 2023

Organization ProfileWWW.CLARKREMC.COOP
7810 State Road 60Sellersburg, IN 47172

(812) 246-3316

Siviq Scores

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

Liabilities / Assets

38th percentile

0.50x

Higher debt load relative to assets than 38% of similar nonprofits.

2022 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2022

Liabilities / Revenue

32nd percentile

1.15x

Higher debt load relative to revenue than 32% of similar nonprofits.

2022 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2022

Net Margin

92nd percentile

9.2%

Higher net margin than 92% of similar nonprofits.

2022 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2022

Top Officer Pay

54th percentile

$376,753

Higher top officer pay than 54% of similar nonprofits.

Top officer pay equals 0.5% of source-year revenue.

2022 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2022

Asset Growth

51st percentile

5.3%

Faster asset growth than 51% of similar nonprofits.

2022 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Revenue Growth

67th percentile

12%

Faster revenue growth than 67% of similar nonprofits.

2022 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$158,055,649

Up $7,910,245 (+5.3%) from 2021

Net Assets

Up

$79,524,708

Up $1,970,549 (+2.5%) from 2021

Liabilities

Up

$78,530,941

Up $5,939,696 (+8.2%) from 2021

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin92nd percentile

Revenue

Up

$68,579,271

Up $7,312,156 (+12%) from 2021

Expenses

Up

$62,304,098

Up $4,194,316 (+7.2%) from 2021

Net Income

Up

$6,275,173

Up $3,117,840 (+99%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth51st percentile

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

$200M$150M$100M$50M$0Assets 2020: $145,906,290Liabilities 2020: $69,125,481Net Assets 2020: $76,780,8092020Assets 2021: $150,145,404Liabilities 2021: $72,591,245Net Assets 2021: $77,554,1592021Assets 2022: $158,055,649Liabilities 2022: $78,530,941Net Assets 2022: $79,524,7082022Assets 2023: $160,246,324Liabilities 2023: $78,016,779Net Assets 2023: $82,229,5452023Assets 2024: $165,310,986Liabilities 2024: $80,769,917Net Assets 2024: $84,541,0692024

Highlighted filing

2022

Assets$158,055,649
Liabilities$78,530,941
Net Assets$79,524,708
Open 2022 Filing

Operations Trend

Revenue Growth67th percentile

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

$80M$60M$40M$20M$0Revenue 2020: $60,296,021Expenses 2020: $57,702,167Net Income 2020: $2,593,8542020Revenue 2021: $61,267,115Expenses 2021: $58,109,782Net Income 2021: $3,157,3332021Revenue 2022: $68,579,271Expenses 2022: $62,304,098Net Income 2022: $6,275,1732022Revenue 2023: $71,631,326Expenses 2023: $66,089,510Net Income 2023: $5,541,8162023Revenue 2024: $74,547,968Expenses 2024: $69,406,936Net Income 2024: $5,141,0322024

Highlighted filing

2022

Revenue$68,579,271
Expenses$62,304,098
Net Income$6,275,173
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2022 to Dec 31, 2022
Signed
May 3, 2023
Return Version
2022v5.0
Gross Receipts
$68,608,278
Mission and Program Overview

Mission

To efficiently deliver safe, reliable electric service to our members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$110,210,700$115,130,399▲ $4,919,699
Rtn Earn Endowment Incm Other Fnds$77,554,159$79,524,708▲ $1,970,549
Investments Program Related$29,859,329$28,882,791▼ $976,538
Accounts Receivable$7,147,975$10,609,820▲ $3,461,845
Cash and Non-Interest-Bearing Accounts$1,184,602$1,470,212▲ $285,610
Prepaid Expenses and Deferred Charges$1,006,455$1,209,918▲ $203,463
Inventories for Sale or Use$736,343$752,509▲ $16,166
Total Assets$150,145,404$158,055,649▲ $7,910,245
Liabilities
Mortgage Notes Payable Secured by Investment Property$62,655,927$65,677,930▲ $3,022,003
Accounts Payable and Accrued Expenses$7,831,581$9,680,841▲ $1,849,260
Other Liabilities$2,103,737$3,172,170▲ $1,068,433
Total Liabilities$72,591,245$78,530,941▲ $5,939,696
Net Assets / Fund Balance
Total Net Assets Fund Balance$77,554,159$79,524,708▲ $1,970,549
Total Liabilities and Net Assets / Fund Balance$150,145,404$158,055,649▲ $7,910,245

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$113,730,594$29,289,960$143,020,554
Buildings$969,523$4,582,061$5,551,584
Land$430,282-$430,282
Investment Program Related Org$361,390--
Compensation and Service Providers
Top Officer Pay54th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
David a VinceGeneral ManagerFT$188,552$188,201$376,753
David a Vince--$37,980$338,773$376,753
Jason ClemmonsChief Executive OfficerFT$197,473$157,132$354,605
Jason Clemmons--$192,206$162,399$354,605
Jeremy R MillerMgr. of Finance & Admin./asst. TreasurerFT$172,570$97,944$270,514
Jeremy R Miller--$163,240$107,274$270,514
David W BartonMgr. of Operations & EngineeringFT$201,894$39,733$241,627
David W Barton--$158,751$82,876$241,627
Kevin Crouse SrWorking ForemanFT$134,588$88,115$222,703
Kevin Crouse Sr--$129,200$93,503$222,703
Kevin KastensmidtMgr. of Information TechnologyFT$138,184$70,067$208,251
Kevin Kastensmidt--$137,510$70,741$208,251
Jerry ApplegateWorking ForemanFT$135,677$64,802$200,479
Jerry Applegate--$133,121$67,358$200,479
Christopher WoodsWorking ForemanFT$131,251$60,295$191,546
Christopher Woods--$128,234$63,312$191,546
Thera DesmondAdmin. Asst./asst. SecretaryFT$93,244$45,586$138,830
Paul a GrafPresidentPT$16,641-$16,641
Mark a HuberDirector-$15,196-$15,196
John R BieselSec.-treas./vice PresidentPT$14,992-$14,992
Jeff a MyersDirector/sec.-treas.PT$14,880-$14,880
Joseph W BashamDirectorPT$14,279-$14,279
Steven G DieterlenDirectorPT$12,750-$12,750
Amberley KendallDirector-$9,447-$9,447
Candace S MeyerVice President-$1,657-$1,657

Highest Paid Contractors

ContractorServicesLocationCompensation
Electricom LLCConstructionPO BOX 319, Paoli, IN 47454$2,244,428
Townsend Tree ServiceRight-of-way MaintenancePO BOX 7015, Muncie, IN 47308$1,283,489
Saltsgaver Construction CoConstruction1805 CORYDON PIKE, New Albany, IN 47151$849,784
Usic Locating Services LLCLocating/field WorkPO BOX 715409, Cincinnati, OH 45271$264,842
-Equipment InspectionPO BOX 9, Slaughters, KY 42456$197,178
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$66,499,866
Investment Income
$71,386
Other Revenue
$2,008,019
Change in Net Assets
$6,275,173

Audited Revenue Reconciliation

Revenue per Audited Statements
$68,579,271
Total Revenue per Audited Statements
$68,579,271
Total Revenue per Form 990
$68,579,271
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$56,811,086
Salaries, Compensation, and Employee Benefits$5,493,012
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$0$0$0$5,028,764
Other Salaries and Wages$0$0$0$4,252,468
Interest$0$0$0$2,434,035
Current Officers, Directors, Trustees, and Key Employees$0$0$0$1,240,544
All Other Expenses$0$0$0$1,186,311
Other Expenses$0$0$0$692,744
Information Technology$0$0$0$656,637
Office Expenses$0$0$0$190,943
Conferences and Meetings$0$0$0$130,421
Insurance$0$0$0$104,676
Fees for Services Other$0$0$0$88,413
Fees for Services Legal$0$0$0$27,456
Fees for Services Accounting$0$0$0$14,325
Advertising$0$0$0$6,283
Total Functional Expenses$0$0$0$62,304,098

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$62,304,098
Total Expenses per Audited Statements$62,304,098
Total Expenses per Form 990$62,304,098
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
Yes
Subject to proxy tax
No

Reported Spending and Taxes

Line ItemAmount
Political Expenditures$2,000
Total Exempt Function Spending$2,000
Section 527 Activity Spending$0

Section 527 Organizations

OrganizationLocationAmount
35-1998087Indianapolis, IN$2,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Customer Advances for Construction$2,315,393
Customer Deposits$464,973
All Other Liabilities$237,915
Post Retirement Benefit Other Than Pension$153,889
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
No
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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
No
Key decisions subject to board approval
Yes
Management duties delegated
No
Filing and Contact Details

Filer

Filer Name
Clark County Remc
EIN
35-0230915
Phone
8122463316
Address
7810 STATE ROAD 60, SELLERSBURG, IN 47172

Signing Officer

Name
Jeremy R Miller
Title
Assistant Treasurer
Phone
8122463316
Signed
2023-05-03

Organization Details

Principal Officer
Jason S Clemmons
Formed
1939
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
61
Volunteers
0
Supplemental Narrative

Additional Explanations

Pt VI, Line 6

“Consumers of the remc's electric service are considered members of the cooperative.”

Pt VI, Line 7A

“Members of the remc elect the board of directors.”

Pt VI, Line 7B

“A member vote is required to change the articles of incorporation of the remc.”

Pt VI, Line 11B

“The return is reviewed by the board of directors and management before mailing to the government.”

Pt VI, Line 12C

“Only the general manager and directors are required to review the conflict of interest policy on an annual basis confirming they have no conflicts of interest or disclosing any they may have. All other employees are required by the corporation's code of business ethics and conduct policy to disclose any potential conflicts of interest on an ongoing basis.”

Pt VI, Line 15A

“The remc employs an outside, independent firm to prepare a compensation study for all employees. Study includes data from national, regional, and local level comparison. Director compensation was based on a similar study.”

Pt VI, Line 15B

“The remc employs an outside, independent firm to prepare a compensation study for all employees. Study includes data from national, regional, and local level comparison. Director compensation was based on a similar study.”

Pt VI, Line 19

“The governing documents, conflict of interest policy, and financial statements are made available upon request.”

Other

“Pt IX, Line 4: PATRONAGE CAPITAL RETURNED TO MEMBERS TOTALING $4,267,973 HAS BEEN INCLUDED IN THE RECONCILIATION OF NET ASSETS ON PART XI, LINE 9.”

Pt XI

“Other changes in net assets or fund balances:”

Pt XI

“Patronage capital returned to members -$4,267,973”

Pt XI

“Decrease in other comprehensive income -$36,651”

Pt XII, Line 2C

“Entire board has oversight of audit and selection of independent auditors.”

Financial Statement Notes

Pt X, Line 2

“Accounting for uncertain tax positions - in june 2006, the fasb issued "accounting for uncertainty in income taxes". The generally accepted accounting principal provides detailed guidance for the financial statement recognition, measurement, and disclosure of uncertain tax positions recognized in an enterprise's financial statements. The accounting principal requires an entity to recognize the financial statement impact of a tax position when it is more likely than not the position will be sustained upon examination. The adoption of this accounting principal does not have a material effect on its financial position, results of operations, or cash flows as the remc does not believe they are taking any uncertain tax positions.”

Raw XML AppendixShowing 400 of 724 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/PersonNm3JEFF A MYERS
IRS990/Form990PartVIISectionAGrp/PersonNm4JOSEPH W BASHAM
IRS990/Form990PartVIISectionAGrp/PersonNm5STEVEN G DIETERLEN
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IRS990/Form990PartVIISectionAGrp/PersonNm7AMBERLEY KENDALL
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IRS990/Form990PartVIISectionAGrp/PersonNm11JEREMY R MILLER
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IRS990/Form990PartVIISectionAGrp/PersonNm13KEVIN KASTENSMIDT
IRS990/Form990PartVIISectionAGrp/PersonNm14JERRY APPLEGATE
IRS990/Form990PartVIISectionAGrp/PersonNm15KEVIN CROUSE SR
IRS990/Form990PartVIISectionAGrp/PersonNm16CHRISTOPHER WOODS
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IRS990/Form990PartVIISectionAGrp/TitleTxt1VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt2SEC.-TREAS./VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt3DIRECTOR/SEC.-TREAS.
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt8GENERAL MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt9CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt10ADMIN. ASST./ASST. SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt11MGR. OF FINANCE & ADMIN./ASST. TREASURER
IRS990/Form990PartVIISectionAGrp/TitleTxt12MGR. OF OPERATIONS & ENGINEERING
IRS990/Form990PartVIISectionAGrp/TitleTxt13MGR. OF INFORMATION TECHNOLOGY
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IRS990/Form990PartVIISectionAGrp/TitleTxt15WORKING FOREMAN
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Document Assets

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Filings

Displayed year

2022 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$158,055,649
Liabilities
$78,530,941
Net assets
$79,524,708
Revenue
$68,579,271
Expenses
$62,304,098
Net income
$6,275,173
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$165$80.8$84.5$74.5$69.4$5.14
2023Detailed filing. Detailed filing data is available for this year.$160$78.0$82.2$71.6$66.1$5.54
2022Detailed filing. Detailed filing data is available for this year.$158$78.5$79.5$68.6$62.3$6.28
2021Detailed filing. Detailed filing data is available for this year.$150$72.6$77.6$61.3$58.1$3.16
2020Detailed filing. Detailed filing data is available for this year.$146$69.1$76.8$60.3$57.7$2.59