Civic Intelligence

Clark County Remc

990 • Fiscal year 2024 • EIN 35-0230915

Jan 01, 2024 to Dec 31, 2024 • Filed on May 09, 2025

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

36th percentile

0.49x

Higher debt load relative to assets than 36% of similar nonprofits.

2024 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2024

Liabilities / Revenue

28th percentile

1.08x

Higher debt load relative to revenue than 28% of similar nonprofits.

2024 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2024

Net Margin

82nd percentile

6.9%

Higher net margin than 82% of similar nonprofits.

2024 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2024

Top Officer Pay

50th percentile

$378,965

Higher top officer pay than 50% of similar nonprofits.

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

2024 filings • 501(c)12 • $100M-$250M nonprofits • Source year 2024

Asset Growth

36th percentile

3.2%

Faster asset growth than 36% of similar nonprofits.

2024 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Revenue Growth

50th percentile

4.1%

Faster revenue growth than 50% of similar nonprofits.

2024 filings • 501(c)12 • $100M-$250M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets36th percentile

Assets

Up

$165,310,986

Up $5,064,662 (+3.2%) from 2023

Net Assets

Up

$84,541,069

Up $2,311,524 (+2.8%) from 2023

Liabilities

Up

$80,769,917

Up $2,753,138 (+3.5%) from 2023

Revenue And Expenses
Liabilities / Revenue28th percentileNet Margin82nd percentile

Revenue

Up

$74,547,968

Up $2,916,642 (+4.1%) from 2023

Expenses

Up

$69,406,936

Up $3,317,426 (+5.0%) from 2023

Net Income

Down

$5,141,032

Down $400,784 (-7.2%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth36th 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

2024

Assets$165,310,986
Liabilities$80,769,917
Net Assets$84,541,069
Open 2024 Filing

Operations Trend

Revenue Growth50th 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

2024

Revenue$74,547,968
Expenses$69,406,936
Net Income$5,141,032
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
May 9, 2025
Return Version
2024v5.1
Gross Receipts
$74,556,781
Mission and Program Overview

Mission

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

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

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$118,093,232$121,178,161▲ $3,084,929
Rtn Earn Endowment Incm Other Fnds$82,229,545$84,541,069▲ $2,311,524
Investments Program Related$29,652,161$30,190,296▲ $538,135
Accounts Receivable$8,719,168$8,999,244▲ $280,076
Inventories for Sale or Use$865,778$2,053,168▲ $1,187,390
Cash and Non-Interest-Bearing Accounts$1,539,423$1,755,968▲ $216,545
Prepaid Expenses and Deferred Charges$1,376,562$1,134,149▼ $242,413
Total Assets$160,246,324$165,310,986▲ $5,064,662
Liabilities
Mortgage Notes Payable Secured by Investment Property$65,349,047$67,216,813▲ $1,867,766
Accounts Payable and Accrued Expenses$9,225,144$10,559,867▲ $1,334,723
Other Liabilities$3,442,588$2,993,237▼ $449,351
Total Liabilities$78,016,779$80,769,917▲ $2,753,138
Net Assets / Fund Balance
Total Net Assets Fund Balance$82,229,545$84,541,069▲ $2,311,524
Total Liabilities and Net Assets / Fund Balance$160,246,324$165,310,986▲ $5,064,662

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$119,568,449$35,024,172$154,592,621
Buildings$1,179,430$4,770,228$5,949,658
Land$430,282-$430,282
Investment Program Related Org$267,613--
Compensation and Service Providers
Top Officer Pay50th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jason ClemmonsChief Executive OfficerFT$242,029$136,936$378,965
Jason Clemmons--$230,150$148,815$378,965
Jeremy R MillerMgr. of Finance & Admin./asst. TreasurerFT$193,962$84,522$278,484
Jeremy R Miller--$183,596$94,888$278,484
Nash SummersMgr. of Operations & EngineeringFT$166,691$62,838$229,529
Nash Summers--$147,117$82,412$229,529
Kevin Crouse SrWorking ForemanFT$146,506$78,532$225,038
Kevin Crouse Sr--$138,584$86,454$225,038
Kevin KastensmidtMgr. of Information TechnologyFT$151,052$59,606$210,658
Kevin Kastensmidt--$149,798$60,860$210,658
Jerry ApplegateWorking ForemanFT$152,980$51,068$204,048
Jerry Applegate--$150,226$53,822$204,048
Wyatt BinkleyJourneyman LinemanFT$143,154$19,144$162,298
Wyatt Binkley--$140,802$21,496$162,298
Thera DesmondAdmin. Asst./asst. SecretaryFT$100,764$35,422$136,186
John R BieselVice President/presidentPT$17,174-$17,174
Mark a HuberDirector-$15,930-$15,930
Paul a GrafPresident/directorPT$15,573-$15,573
Joseph W BashamDirector/secretary-treasurerPT$15,554-$15,554
Jeffrey a MyersSec.-treas./vice President-$14,644-$14,644
Steven G DieterlenDirectorPT$11,378-$11,378
James Gregory HostettlerDirector-$11,363-$11,363

Highest Paid Contractors

ContractorServicesLocationCompensation
Electricom LLCConstructionPO BOX 319, Paoli, IN 47454$2,093,379
Townsend Tree ServiceRight-of-way MaintenancePO BOX 7015, Muncie, IN 47308$1,498,170
Saltsgaver Construction CoConstruction1805 CORYDON PIKE, New Albany, IN 47151$731,821
D J Windell INCStaking/inspection3094 OLD HEINZ ROAD NE, Corydon, IN 47112$293,238
-Locating Services5035 CHARLOTTE AVE, Evansville, IN 47720$233,772
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$72,050,463
Investment Income
$69,127
Other Revenue
$2,428,378
Change in Net Assets
$5,141,032

Audited Revenue Reconciliation

Revenue per Audited Statements
$74,547,968
Total Revenue per Audited Statements
$74,547,968
Total Revenue per Form 990
$74,547,968
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$63,498,698
Salaries, Compensation, and Employee Benefits$5,908,238
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$0$0$0$5,435,695
Other Salaries and Wages$0$0$0$5,012,987
Interest$0$0$0$2,633,219
Current Officers, Directors, Trustees, and Key Employees$0$0$0$895,251
Information Technology$0$0$0$806,336
All Other Expenses$0$0$0$778,359
Other Expenses$0$0$0$715,161
Office Expenses$0$0$0$234,110
Conferences and Meetings$0$0$0$220,296
Fees for Services Other$0$0$0$162,444
Insurance$0$0$0$102,138
Fees for Services Legal$0$0$0$75,345
Fees for Services Accounting$0$0$0$14,345
Advertising$0$0$0$9,913
Total Functional Expenses$0$0$0$69,406,936

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$69,406,936
Total Expenses per Audited Statements$69,406,936
Total Expenses per Form 990$69,406,936
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
35-1998087Carmel, IN$2,000
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Customer Advances for Construction$2,140,416
Customer Deposits$486,649
All Other Liabilities$232,729
Post Retirement Benefit Other Than Pension$133,443
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
2025-05-09

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 remcs 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 chief executive officer 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 corporations 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 $2,840,011 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 -$2,840,011”

Pt XI

“Increase in other comprehensive income $10,503”

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 enterprises 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 688 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/PersonNm9JEREMY R MILLER
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IRS990/Form990PartVIISectionAGrp/PersonNm13KEVIN CROUSE SR
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IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt7CHIEF EXECUTIVE OFFICER
IRS990/Form990PartVIISectionAGrp/TitleTxt8ADMIN. ASST./ASST. SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt9MGR. OF FINANCE & ADMIN./ASST. TREASURER
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IRS990/Form990PartVIISectionAGrp/TitleTxt12MGR. OF INFORMATION TECHNOLOGY
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Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$165,310,986
Liabilities
$80,769,917
Net assets
$84,541,069
Revenue
$74,547,968
Expenses
$69,406,936
Net income
$5,141,032
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