Civic Intelligence

Lagrange County Rural Electric Membership Corporation

990 • Fiscal year 2022 • EIN 35-0457973

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

Organization ProfileWWW.LAGRANGEREMC.COM
1995 E US Highway 20Lagrange, IN 46761

(260) 463-7165

Siviq Scores

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

Liabilities / Assets

89th percentile

0.65x

Higher debt load relative to assets than 89% of similar nonprofits.

2022 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2022

Liabilities / Revenue

89th percentile

2.28x

Higher debt load relative to revenue than 89% of similar nonprofits.

2022 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2022

Net Margin

64th percentile

1.8%

Higher net margin than 64% of similar nonprofits.

2022 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2022

Top Officer Pay

21st percentile

$186,274

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 1.3% of source-year revenue.

2022 filings • 501(c)12 • $50M-$100M nonprofits • Source year 2022

Asset Growth

99th percentile

48%

Faster asset growth than 99% of similar nonprofits.

2022 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Revenue Growth

69th percentile

9.7%

Faster revenue growth than 69% of similar nonprofits.

2022 filings • 501(c)12 • $50M-$100M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets89th percentile

Assets

Up

$50,097,597

Up $16,283,458 (+48%) from 2021

Net Assets

Up

$17,448,170

Up $544,784 (+3.2%) from 2021

Liabilities

Up

$32,649,427

Up $15,738,674 (+93%) from 2021

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin64th percentile

Revenue

Up

$14,349,360

Up $1,263,961 (+9.7%) from 2021

Expenses

Up

$14,088,193

Up $1,231,550 (+9.6%) from 2021

Net Income

Up

$261,167

Up $32,411 (+14%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$60M$40M$20M$0Assets 2020: $24,864,511Liabilities 2020: $8,322,870Net Assets 2020: $16,541,6412020Assets 2021: $33,814,139Liabilities 2021: $16,910,753Net Assets 2021: $16,903,3862021Assets 2022: $50,097,597Liabilities 2022: $32,649,427Net Assets 2022: $17,448,1702022Assets 2023: $55,686,403Liabilities 2023: $38,407,824Net Assets 2023: $17,278,5792023Assets 2024: $59,565,197Liabilities 2024: $42,067,726Net Assets 2024: $17,497,4712024

Highlighted filing

2022

Assets$50,097,597
Liabilities$32,649,427
Net Assets$17,448,170
Open 2022 Filing

Operations Trend

Revenue Growth69th percentile

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

$20M$15M$10M$5.0M$0-$5.0MRevenue 2020: $12,893,305Expenses 2020: $12,757,761Net Income 2020: $135,5442020Revenue 2021: $13,085,399Expenses 2021: $12,856,643Net Income 2021: $228,7562021Revenue 2022: $14,349,360Expenses 2022: $14,088,193Net Income 2022: $261,1672022Revenue 2023: $16,020,061Expenses 2023: $16,347,367Net Income 2023: -$327,3062023Revenue 2024: $18,399,624Expenses 2024: $18,173,064Net Income 2024: $226,5602024

Highlighted filing

2022

Revenue$14,349,360
Expenses$14,088,193
Net Income$261,167
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
$14,349,602
Mission and Program Overview

Mission

As a member owned, non-profit service organization, our mission is to provide efficient and reliable electric service to our members.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$23,184,239$37,440,396▲ $14,256,157
Rtn Earn Endowment Incm Other Fnds$15,754,885$15,987,089▲ $232,204
Investments Other Securities$5,112,118$5,706,946▲ $594,828
Inventories for Sale or Use$3,217,327$4,920,760▲ $1,703,433
Pd in Cap Srpls Land Bldg Eqp Fund$1,148,501$1,461,081▲ $312,580
Accounts Receivable$908,220$1,060,638▲ $152,418
Cash and Non-Interest-Bearing Accounts$1,137,608$766,447▼ $371,161
Investments Program Related$13,750$14,151▲ $401
Total Assets$33,814,139$50,097,597▲ $16,283,458
Other Assets Total$240,877$188,259▼ $52,618
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,615,430$21,895,423▲ $13,279,993
Deferred Revenue$5,292,185$5,265,000▼ $27,185
Accounts Payable and Accrued Expenses$2,466,765$5,251,981▲ $2,785,216
Other Liabilities$536,373$237,023▼ $299,350
Total Liabilities$16,910,753$32,649,427▲ $15,738,674
Net Assets / Fund Balance
Total Net Assets Fund Balance$16,903,386$17,448,170▲ $544,784
Total Liabilities and Net Assets / Fund Balance$33,814,139$50,097,597▲ $16,283,458

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$19,404,623$13,927,036$33,331,659
Buildings$17,687,956$1,328,442$19,016,398
Land$347,817-$347,817
Other Securities$10,000--
Compensation and Service Providers
Top Officer Pay21st percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Mark LeuCEOFT$177,149$9,125$186,274
Nathan YoderJourneymen LFT$102,390-$102,390
Roger DomerPresident-$19,000-$19,000
C Shane RaslerDirector-$18,450-$18,450
Jeff BrillSecretary/tr-$18,250-$18,250
Cliff HibbsDirector-$18,050-$18,050
Tony BontragerDirector-$17,850-$17,850
Terry HolsingerVice Preside-$17,200-$17,200
Michael HuppenthalDirector-$17,050-$17,050
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$13,457,460
Investment Income
$17,331
Other Revenue
$874,569
Change in Net Assets
$261,167

Audited Revenue Reconciliation

Revenue per Audited Statements
$14,349,360
Total Revenue per Audited Statements
$14,349,360
Total Revenue per Form 990
$14,349,360
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$11,791,725
Salaries, Compensation, and Employee Benefits$2,280,678
Grants and Similar Amounts Paid$8,660
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$1,299,586--$1,299,586
Depreciation Depletion$1,129,459--$1,129,459
All Other Expenses$448,003--$448,003
Other Employee Benefits$316,955--$316,955
Interest$316,427--$316,427
Current Officers, Directors, Trustees, and Key Employees$312,124--$312,124
Other Expenses$305,037--$305,037
Pension Plan Contributions$236,020--$236,020
Information Technology$185,336--$185,336
Office Expenses$116,475--$116,475
Payroll Taxes$115,993--$115,993
Insurance$98,399--$98,399
Fees for Services Legal$42,711--$42,711
Conferences and Meetings$24,339--$24,339
Fees for Services Accounting$20,500--$20,500
Fees for Services Other$16,945--$16,945
Advertising$13,485--$13,485
Grants to Domestic Orgs$8,660--$8,660
Benefits to Members$7,130--$7,130
Total Functional Expenses$14,088,193$0$0$14,088,193

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$14,088,193
Total Expenses per Audited Statements$14,088,193
Total Expenses per Form 990$14,088,193
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
Section 527 Activity Spending$2,000
Total Exempt Function Spending$2,000

Section 527 Organizations

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

Other Reported Liabilities

LiabilityAmount
Patronage Capital Payable$120,220
Compensated Absences$116,803
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 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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

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

“The remc's territory is divided up into districts and there is one board member that represents each district. The board is elected by the members of the remc.”

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

“Decisions of the governing body are subject to the members' approval and are reviewed at the annual meeeting.”

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

“The 990 is reviewed by the board at their monthly meeting prior to filing.”

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

“The board of directors as well as the officers review the conflict of interest policy and employees' relationships annually to verify there is not a breach of policy. The board completes and signs the statement of disclosure annually.”

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

“Salaries are evaluated against the nreca national compensation survey to determine annual raises.”

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

“Salaries are evaluated against the nreca national compensation survey to determine annual raises.”

Form 990, Page 6, Part VI, Line 19

“Governing documents, conflict of interest policy, and financial statements are available upon request by members. They are all located at the remc headquarters.”

Filing and Contact Details

Filer

Filer Name
Lagrange County Rural Electric
EIN
35-0457973
Phone
2604637165
Address
1995 E US HIGHWAY 20, LAGRANGE, IN 46761

Signing Officer

Name
Mark Leu
Title
CEO
Phone
2604637165
Signed
2023-05-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Mark Leu
Formed
1936
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
32

Preparer

Firm
Leonard J Andorfer & Co Llp
Address
110 W BERRY STREET STE 2202, FORT WAYNE, IN 46802-2311
Preparer
Mark J Andorfer CPA
Phone
2604239405
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Unrecognized net periodic post-retirement benefit -11,364”

Financial Statement Notes

Schedule D, Page 3, Part X

“The corporation is exempt from federal income tax under section 501(c)(12) of the internal revenue code. The corporation has adopted fasb asc 740-10-25, and determined no material unrecognized tax benefits or liabilities exist as of december 31, 2022. The adoption of fasb asc 740-10-25 did not impact the corporation's financial position or results of operations. If applicable, the corporation will recognize interest and penalties related to underpayment of income taxes as income tax expense. As of december 31, 2022, the corporation had no amounts related to unrecognized income tax benefits and no amounts related to accrued interest and penalties. The corporation does not anticipate any significant changes to unrecognized income tax benefits over the next year. The corporation is generally no longer subject to examination by federal and state agencies for years before 2019.”

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IRS990/OtherExpensesGrp/ProgramServicesAmt1854542
IRS990/OtherExpensesGrp/ProgramServicesAmt2698570
IRS990/OtherExpensesGrp/ProgramServicesAmt3305037
IRS990/OtherExpensesGrp/TotalAmt07521497
IRS990/OtherExpensesGrp/TotalAmt1854542
IRS990/OtherExpensesGrp/TotalAmt2698570
IRS990/OtherExpensesGrp/TotalAmt3305037
IRS990/OtherLiabilitiesGrp/BOYAmt0536373
IRS990/OtherLiabilitiesGrp/EOYAmt0237023
IRS990/OtherRevenueMiscGrp/BusinessCd0221000
IRS990/OtherRevenueMiscGrp/BusinessCd1900002
IRS990/OtherRevenueMiscGrp/BusinessCd2900099
IRS990/OtherRevenueMiscGrp/Desc0PATRONAGE REVENUE
IRS990/OtherRevenueMiscGrp/Desc1RENT FROM ELECTRIC PROPER
IRS990/OtherRevenueMiscGrp/Desc2MISCELLANEOUS INCOME
IRS990/OtherRevenueMiscGrp/ExclusionAmt0775111
IRS990/OtherRevenueMiscGrp/ExclusionAmt196139
IRS990/OtherRevenueMiscGrp/ExclusionAmt23319
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt0775111
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt196139
IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt23319
IRS990/OtherRevenueTotalAmt0874569
IRS990/OtherSalariesAndWagesGrp/ProgramServicesAmt01299586
IRS990/OtherSalariesAndWagesGrp/TotalAmt01299586
IRS990/OtherSourcesGrossIncomeAmt0891900
IRS990/PartialLiquidationInd0false
IRS990/PayrollTaxesGrp/ProgramServicesAmt0115993
IRS990/PayrollTaxesGrp/TotalAmt0115993
IRS990/PdInCapSrplsLandBldgEqpFundGrp/BOYAmt01148501
IRS990/PdInCapSrplsLandBldgEqpFundGrp/EOYAmt01461081
IRS990/PensionPlanContributionsGrp/ProgramServicesAmt0236020
IRS990/PensionPlanContributionsGrp/TotalAmt0236020
IRS990/PoliticalCampaignActyInd0true
IRS990/PrincipalOfficerNm0MARK LEU
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgramServiceRevenueGrp/BusinessCd0221000
IRS990/ProgramServiceRevenueGrp/Desc0OPERATING REVENUE
IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt013457460
IRS990/ProgramServiceRevenueGrp/TotalRevenueColumnAmt013457460
IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYBenefitsPaidToMembersAmt021461
IRS990/PYGrantsAndSimilarPaidAmt05266
IRS990/PYInvestmentIncomeAmt028798
IRS990/PYOtherExpensesAmt010780862
IRS990/PYOtherRevenueAmt0370174
IRS990/PYProgramServiceRevenueAmt012686427
IRS990/PYRevenuesLessExpensesAmt0228756
IRS990/PYSalariesCompEmpBnftPaidAmt02049054
IRS990/PYTotalExpensesAmt012856643
IRS990/PYTotalRevenueAmt013085399
IRS990/ReconcilationRevenueExpnssAmt0261167
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0false
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RtnEarnEndowmentIncmOthFndsGrp/BOYAmt015754885
IRS990/RtnEarnEndowmentIncmOthFndsGrp/EOYAmt015987089
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleC/Expended527ActivitiesAmt02000
IRS990ScheduleC/Form1120POLFiledInd0false
IRS990ScheduleC/PoliticalExpendituresAmt02000
IRS990ScheduleC/Section527PoliticalOrgGrp/EIN0351998087
IRS990ScheduleC/Section527PoliticalOrgGrp/OrganizationBusinessName/BusinessNameLine1Txt0INDIANA FORE
IRS990ScheduleC/Section527PoliticalOrgGrp/PaidInternalFundsAmt02000
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/AddressLine1Txt08888 KEYSTONE CROSSING STE 1600
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/CityNm0INDIANAPOLIS
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/StateAbbreviationCd0IN
IRS990ScheduleC/Section527PoliticalOrgGrp/USAddress/ZIPCd046240
IRS990ScheduleC/TotalExemptFunctionExpendAmt02000
IRS990ScheduleD/BuildingsGrp/BookValueAmt017687956
IRS990ScheduleD/BuildingsGrp/DepreciationAmt01328442
IRS990ScheduleD/BuildingsGrp/OtherCostOrOtherBasisAmt019016398
IRS990ScheduleD/EquipmentGrp/BookValueAmt019404623
IRS990ScheduleD/EquipmentGrp/DepreciationAmt013927036
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt033331659
IRS990ScheduleD/ExpensesSubtotalAmt014088193
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/LandGrp/BookValueAmt0347817
IRS990ScheduleD/LandGrp/OtherCostOrOtherBasisAmt0347817
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0120220
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt1116803
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0PATRONAGE CAPITAL PAYABLE
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1COMPENSATED ABSENCES
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt03989477
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt1505556
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt2456755
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt3349506
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt4131312
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt597222
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt690894
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt776224
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt810000
IRS990ScheduleD/OtherSecuritiesGrp/Desc0WABASH VALLEY POWER ASSOC
IRS990ScheduleD/OtherSecuritiesGrp/Desc1NRTC PATRONAGE
IRS990ScheduleD/OtherSecuritiesGrp/Desc2CAPITAL TERM AND LON CER
IRS990ScheduleD/OtherSecuritiesGrp/Desc3PATRONAGE CAPITAL CERTIFI
IRS990ScheduleD/OtherSecuritiesGrp/Desc4FEDERATED INSURANCE
IRS990ScheduleD/OtherSecuritiesGrp/Desc5UNITED UTILITY SUPPLY PAT
IRS990ScheduleD/OtherSecuritiesGrp/Desc6SOUTHEASTERN DATA COOPERA
IRS990ScheduleD/OtherSecuritiesGrp/Desc7INDIANA STATE WIDE PATRONA
IRS990ScheduleD/OtherSecuritiesGrp/Desc8ACCORD TELE
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/OtherSecuritiesGrp/MethodValuationCd8C
IRS990ScheduleD/RevenueSubtotalAmt014349360
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE CORPORATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE. THE CORPORATION HAS ADOPTED FASB ASC 740-10-25, AND DETERMINED NO MATERIAL UNRECOGNIZED TAX BENEFITS OR LIABILITIES EXIST AS OF DECEMBER 31, 2022. THE ADOPTION OF FASB ASC 740-10-25 DID NOT IMPACT THE CORPORATION'S FINANCIAL POSITION OR RESULTS OF OPERATIONS. IF APPLICABLE, THE CORPORATION WILL RECOGNIZE INTEREST AND PENALTIES RELATED TO UNDERPAYMENT OF INCOME TAXES AS INCOME TAX EXPENSE. AS OF DECEMBER 31, 2022, THE CORPORATION HAD NO AMOUNTS RELATED TO UNRECOGNIZED INCOME TAX BENEFITS AND NO AMOUNTS RELATED TO ACCRUED INTEREST AND PENALTIES. THE CORPORATION DOES NOT ANTICIPATE ANY SIGNIFICANT CHANGES TO UNRECOGNIZED INCOME TAX BENEFITS OVER THE NEXT YEAR. THE CORPORATION IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY FEDERAL AND STATE AGENCIES FOR YEARS BEFORE 2019.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/TotalBookValueLandBuildingsAmt037440396
IRS990ScheduleD/TotalBookValueSecuritiesAmt05706946
IRS990ScheduleD/TotalExpensesPerForm990Amt014088193
IRS990ScheduleD/TotalLiabilityAmt0237023
IRS990ScheduleD/TotalRevenuePerForm990Amt014349360
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt014349360
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt014088193
IRS990ScheduleJ/EquityBasedCompArrngmInd0false
IRS990/ScheduleJRequiredInd0true
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt0177149
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/NontaxableBenefitsFilingOrgAmt09125
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0MARK LEU
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TotalCompensationFilingOrgAmt0186274
IRS990ScheduleJ/SeverancePaymentInd0false
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE REMC'S TERRITORY IS DIVIDED UP INTO DISTRICTS AND THERE IS ONE BOARD MEMBER THAT REPRESENTS EACH DISTRICT. THE BOARD IS ELECTED BY THE MEMBERS OF THE REMC.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO THE MEMBERS' APPROVAL AND ARE REVIEWED AT THE ANNUAL MEEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE 990 IS REVIEWED BY THE BOARD AT THEIR MONTHLY MEETING PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE BOARD OF DIRECTORS AS WELL AS THE OFFICERS REVIEW THE CONFLICT OF INTEREST POLICY AND EMPLOYEES' RELATIONSHIPS ANNUALLY TO VERIFY THERE IS NOT A BREACH OF POLICY. THE BOARD COMPLETES AND SIGNS THE STATEMENT OF DISCLOSURE ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4SALARIES ARE EVALUATED AGAINST THE NRECA NATIONAL COMPENSATION SURVEY TO DETERMINE ANNUAL RAISES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5SALARIES ARE EVALUATED AGAINST THE NRECA NATIONAL COMPENSATION SURVEY TO DETERMINE ANNUAL RAISES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST BY MEMBERS. THEY ARE ALL LOCATED AT THE REMC HEADQUARTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7UNRECOGNIZED NET PERIODIC POST-RETIREMENT BENEFIT -11,364
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
IRS990/SchoolOperatingInd0false
IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt033814139
IRS990/TotalAssetsEOYAmt050097597
IRS990/TotalAssetsGrp/BOYAmt033814139
IRS990/TotalAssetsGrp/EOYAmt050097597
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt032
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt014088193
IRS990/TotalFunctionalExpensesGrp/TotalAmt014088193
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt016910753

Document Assets

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Filings

Displayed year

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

Open filing
Assets
$50,097,597
Liabilities
$32,649,427
Net assets
$17,448,170
Revenue
$14,349,360
Expenses
$14,088,193
Net income
$261,167
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$59.6$42.1$17.5$18.4$18.2$0.23
2023Detailed filing. Detailed filing data is available for this year.$55.7$38.4$17.3$16.0$16.3$0.33
2022Detailed filing. Detailed filing data is available for this year.$50.1$32.6$17.4$14.3$14.1$0.26
2021Detailed filing. Detailed filing data is available for this year.$33.8$16.9$16.9$13.1$12.9$0.23
2020Detailed filing. Detailed filing data is available for this year.$24.9$8.32$16.5$12.9$12.8$0.14