Civic Intelligence

Tipmont Rural Electric Membership

EIN 35-0711159 • 501(c)12 • Linden, IN

Profile

Distribution of electricity to members on a cooperative basis.

403 S Main StreetLinden, IN 47955

www.tipmont.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

76th percentile

0.69x

Higher debt load relative to assets than 76% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Liabilities / Revenue

78th percentile

2.22x

Higher debt load relative to revenue than 78% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Net Margin

51st percentile

0.1%

Higher net margin than 51% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Top Officer Pay

48th percentile

$543,378

Higher top officer pay than 48% of similar nonprofits.

Top officer pay equals 0.6% of source-year revenue.

501(c)12 • $250M-$1B nonprofits • Source year 2024

Asset Growth

57th percentile

6.4%

Faster asset growth than 57% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Revenue Growth

45th percentile

5.6%

Faster revenue growth than 45% of similar nonprofits.

501(c)12 • $250M-$1B nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets76th percentile

Assets

Up

$295,352,490

Up $17,718,714 (+6.4%) from 2023

Liabilities

Up

$202,905,560

Up $12,415,675 (+6.5%) from 2023

Net Assets

Up

$92,446,930

Up $5,303,039 (+6.1%) from 2023

Operations
Liabilities / Revenue78th percentileNet Margin51st percentile

Revenue

Up

$91,227,243

Up $4,843,828 (+5.6%) from 2023

Expenses

Up

$91,179,217

Up $4,852,939 (+5.6%) from 2023

Net Income

Down

$48,026

Down $9,111 (-16%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth57th percentile

Grouped bars show assets, liabilities, and net assets across loaded filings.

$300M$200M$100M$0Assets 2014: $131,340,062Liabilities 2014: $68,553,914Net Assets 2014: $62,786,1482014Assets 2015: $139,564,994Liabilities 2015: $75,626,734Net Assets 2015: $63,938,2602015Assets 2016: $147,928,481Liabilities 2016: $82,326,957Net Assets 2016: $65,601,5242016Assets 2017: $156,242,909Liabilities 2017: $88,694,385Net Assets 2017: $67,548,5242017Assets 2018: $183,828,443Liabilities 2018: $113,559,721Net Assets 2018: $70,268,7222018Assets 2019: $195,801,614Liabilities 2019: $122,461,283Net Assets 2019: $73,340,3312019Assets 2020: $218,036,452Liabilities 2020: $140,413,303Net Assets 2020: $77,623,1492020Assets 2021: $238,009,464Liabilities 2021: $156,907,571Net Assets 2021: $81,101,8932021Assets 2022: $254,841,288Liabilities 2022: $171,318,268Net Assets 2022: $83,523,0202022Assets 2023: $277,633,776Liabilities 2023: $190,489,885Net Assets 2023: $87,143,8912023Assets 2024: $295,352,490Liabilities 2024: $202,905,560Net Assets 2024: $92,446,9302024

Highlighted filing

2024

Assets$295,352,490
Liabilities$202,905,560
Net Assets$92,446,930
Open 2024 Filing

Operations Trend

Revenue Growth45th percentile

Revenue, expenses, and net income by year, with the latest filing highlighted.

$100M$50M$0-$50MRevenue 2014: $61,264,518Expenses 2014: $61,184,769Net Income 2014: $79,7492014Revenue 2015: $60,566,148Expenses 2015: $60,591,879Net Income 2015: -$25,7312015Revenue 2016: $62,275,384Expenses 2016: $62,265,307Net Income 2016: $10,0772016Revenue 2017: $62,776,268Expenses 2017: $62,746,443Net Income 2017: $29,8252017Revenue 2018: $67,718,019Expenses 2018: $67,716,843Net Income 2018: $1,1762018Revenue 2019: $68,913,464Expenses 2019: $68,898,247Net Income 2019: $15,2172019Revenue 2020: $69,892,141Expenses 2020: $69,857,367Net Income 2020: $34,7742020Revenue 2021: $75,841,839Expenses 2021: $75,803,235Net Income 2021: $38,6042021Revenue 2022: $79,467,058Expenses 2022: $79,407,364Net Income 2022: $59,6942022Revenue 2023: $86,383,415Expenses 2023: $86,326,278Net Income 2023: $57,1372023Revenue 2024: $91,227,243Expenses 2024: $91,179,217Net Income 2024: $48,0262024

Highlighted filing

2024

Revenue$91,227,243
Expenses$91,179,217
Net Income$48,026
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$295,352,490
Liabilities
$202,905,560
Net assets
$92,446,930
Revenue
$91,227,243
Expenses
$91,179,217
Net income
$48,026
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$295$203$92.4$91.2$91.2$0.05
2023Detailed filing. Detailed filing data is available for this year.$278$190$87.1$86.4$86.3$0.06
2022Detailed filing. Detailed filing data is available for this year.$255$171$83.5$79.5$79.4$0.06
2021Detailed filing. Detailed filing data is available for this year.$238$157$81.1$75.8$75.8$0.04
2020Detailed filing. Detailed filing data is available for this year.$218$140$77.6$69.9$69.9$0.03
2019Detailed filing. Detailed filing data is available for this year.$196$122$73.3$68.9$68.9$0.02
2018Detailed filing. Detailed filing data is available for this year.$184$114$70.3$67.7$67.7$0.00
2017Detailed filing. Detailed filing data is available for this year.$156$88.7$67.5$62.8$62.7$0.03
2016Detailed filing. Detailed filing data is available for this year.$148$82.3$65.6$62.3$62.3$0.01
2015Detailed filing. Detailed filing data is available for this year.$140$75.6$63.9$60.6$60.6$0.03
2014Detailed filing. Detailed filing data is available for this year.$131$68.6$62.8$61.3$61.2$0.08
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Nov 14, 2025
Return Version
2024v5.0
Gross Receipts
$91,227,243
Mission and Program Overview

Mission

Distribution of electricity to members on a cooperative basis.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$212,612,164$223,417,976▲ $10,805,812
Rtn Earn Endowment Incm Other Fnds$87,044,106$92,347,145▲ $5,303,039
Investments Program Related$43,863,333$46,457,182▲ $2,593,849
Accounts Receivable$12,416,117$12,425,363▲ $9,246
Inventories for Sale or Use$4,189,442$5,799,743▲ $1,610,301
Cash and Non-Interest-Bearing Accounts$3,650,563$5,317,765▲ $1,667,202
Prepaid Expenses and Deferred Charges$125,950$142,752▲ $16,802
Pd in Cap Srpls Land Bldg Eqp Fund$99,785$99,785→ $0
Total Assets$277,633,776$295,352,490▲ $17,718,714
Other Assets Total$776,207$1,791,709▲ $1,015,502
Liabilities
Mortgage Notes Payable Secured by Investment Property$154,243,771$164,004,356▲ $9,760,585
Other Liabilities$20,553,188$24,451,165▲ $3,897,977
Accounts Payable and Accrued Expenses$15,692,926$14,450,039▼ $1,242,887
Total Liabilities$190,489,885$202,905,560▲ $12,415,675
Net Assets / Fund Balance
Total Net Assets Fund Balance$87,143,891$92,446,930▲ $5,303,039
Total Liabilities and Net Assets / Fund Balance$277,633,776$295,352,490▲ $17,718,714

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$219,230,075$58,058,588$277,288,663
Buildings$3,320,083$3,079,669$6,399,752
Land$867,818-$867,818
Investment Program Related Org$22,304,417--
Compensation and Service Providers
Top Officer Pay48th percentile

Employees

NameTitleFull / Part TimeBaseOtherTotal
Ronald L HolcombPresident &FT$448,375$95,003$543,378
Ronald L HolcombPresident & CEO-$448,375$95,003$543,378
Jennifer RufattoCMOFT$277,866$44,840$322,706
Jeremy KonkleCOOFT$277,939$46,077$311,072
Jason M MonroeCustomer ExpFT$270,189$13,754$283,943
Jason M MonroeCustomer Experience-$270,189$23,810$283,943
Douglas L MartinVP, FinanceFT$223,573$31,802$255,375
Douglas L MartinVP, Finance & Admin-$223,573$46,236$255,375
Travis L BaileyTechnology IFT$213,379$32,324$245,703
Travis L BaileyTechnology Innovatio-$213,379$32,324$245,703
Joseph P KlineDirector ofFT$162,053$55,052$217,105
Joseph P KlineDirector of Outside-$162,053$32,052$217,105
Christopher BlaisdellSystem EnginFT$162,389$45,308$207,697
Christopher BlaisdellSystem Engineering M-$162,389$30,874$207,697
Robert J BakerDirectorPT$48,871-$48,871
Larry E CarlsonDirectorPT$44,201-$44,201
Kirk AlterSecretary/trPT$40,296-$40,296
Lynn BeckVice ChairmaPT$25,586-$25,586
Brandon S BibleChairmanPT$23,796-$23,796
Wesley StockdaleDirectorPT$13,766-$13,766
Janet HarlowDirectorPT$12,901-$12,901
Thomas CutterDirectorPT$3,442-$3,442

Highest Paid Contractors

ContractorServicesLocationCompensation
Berry It INCSmart Grid Cont4316 N 00 EW, Kokomo, IN 46901$7,770,983
Hoosier Edison Line CompanyElectrical Cont4301 N 88 W, Sharpsville, IN 46068$2,869,971
Steptoe & Johnson LLPLegal ConsultanPO BOX 603212, Charlotte, NC 28260$1,380,145
Mint City Tree Services LLCTree TrimmingPO BOX 210, Bremen, IN 46506$1,057,238
London Economics International LLCOutside Consult717 ATLANTIC AVE STE 1A, Boston, MA 02111$819,540
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$87,963,153
Investment Income
$147,799
Other Revenue
$3,116,291
Change in Net Assets
$48,026

Audited Revenue Reconciliation

Revenue per Audited Statements
$91,227,243
Total Revenue per Audited Statements
$91,227,243
Total Revenue per Form 990
$91,227,243
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$85,784,830
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$8,516,984
Interest---$6,407,102
Benefits to Members---$5,394,387
Other Expenses---$4,297,160
All Other Expenses---$-450
Total Functional Expenses$0$0$0$91,179,217

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$91,179,217
Expenses per Audited Statements$85,784,830
Total Expenses per Audited Statements$85,784,830
Expenses Not Reported on Financial Statements$5,394,387
Other Expense Adjustments$5,394,387
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$19,211,896
Other Deferred Costs$2,499,213
Accum Post-retirement Obligation$1,810,302
Customer Deposits$929,754
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
No
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 6

“The members of the remc consist of those who receive electricity from the co-op”

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

“The members elect the board of directors at an annual meeting depending on the district they live in.”

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

“Certain decisions to be made by the board of directors must be approved by the members.”

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

“990 will be reivewed during a board meeting before it is filed.”

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

“The board reviews the policies regularly and employees are kept up to date.”

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

“The entire board used a compensation study of other manager's and the size of their co-op.”

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

“The entire board used a compensation study of other manager's and the size of their co-op.”

Form 990, Page 6, Part VI, Line 19

“Governing documents are available by mail to the public. The conflict of interest policy is available by request, and financial statements are available online and at the annual meeting.”

Filing and Contact Details

Filer

Filer Name
Tipmont Rural Electric Membership
EIN
35-0711159
Phone
8007263953
Address
403 S MAIN STREET, LINDEN, IN 47955

Signing Officer

Name
Ronald L Holcomb
Title
President & CEO
Phone
8007263953
Signed
2025-11-14

Organization Details

Principal Officer
Ronald L Holcomb
Formed
1938
Legal Domicile
In
Voting Board Members
7
Independent Board Members
7
Employees
137

Preparer

Firm
Bhm CPA Group Inc
Address
PO BOX 875, CIRCLEVILLE, OH 43113-0875
Preparer
Ryan C Hixenbaugh CPA
Phone
7404745210
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“2024 margins allocated 5,394,387 change in memberships -2,205 net retirement, reassignment, reclamation of patro -72,626 other comprehensive income/loss -64,543 total 5,255,013”

Financial Statement Notes

Schedule D, Page 3, Part X

“The cooperative complies with asc 740-10 related to uncertain tax positions. Asc 740-10 prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position taken or expected to be taken on a tax return. Management is not aware of any tax positions taken by the cooperative on its tax returns that they consider to be uncertain or that would jeopardize its tax-exempt status. Tax returns for the years ended 2021, 2022 and 2023 are still open and subject to examination by the internal revenue service.”

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

“2024 margins allocated to members 5,394,387”

Raw XML AppendixShowing 400 of 555 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.

Path#Value
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IRS990/BooksInCareOfDetail/PhoneNum07652694835
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IRS990/Form990PartVIISectionAGrp/PersonNm8ROBERT J BAKER
IRS990/Form990PartVIISectionAGrp/PersonNm9LARRY E CARLSON
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IRS990/Form990PartVIISectionAGrp/PersonNm11LYNN BECK
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IRS990/Form990PartVIISectionAGrp/PersonNm14JANET HARLOW
IRS990/Form990PartVIISectionAGrp/PersonNm15THOMAS CUTTER
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IRS990/Form990PartVIISectionAGrp/TitleTxt4VP, FINANCE
IRS990/Form990PartVIISectionAGrp/TitleTxt5TECHNOLOGY I
IRS990/Form990PartVIISectionAGrp/TitleTxt6DIRECTOR OF
IRS990/Form990PartVIISectionAGrp/TitleTxt7SYSTEM ENGIN
IRS990/Form990PartVIISectionAGrp/TitleTxt8DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt9DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt10SECRETARY/TR
IRS990/Form990PartVIISectionAGrp/TitleTxt11VICE CHAIRMA
IRS990/Form990PartVIISectionAGrp/TitleTxt12CHAIRMAN
IRS990/Form990PartVIISectionAGrp/TitleTxt13DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt14DIRECTOR
IRS990/Form990PartVIISectionAGrp/TitleTxt15DIRECTOR
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LINE OF CREDIT
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1OTHER DEFERRED COSTS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2ACCUM POST-RETIREMENT OBLIGATION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc3CUSTOMER DEPOSITS
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE COOPERATIVE COMPLIES WITH ASC 740-10 RELATED TO UNCERTAIN TAX POSITIONS. ASC 740-10 PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN. MANAGEMENT IS NOT AWARE OF ANY TAX POSITIONS TAKEN BY THE COOPERATIVE ON ITS TAX RETURNS THAT THEY CONSIDER TO BE UNCERTAIN OR THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. TAX RETURNS FOR THE YEARS ENDED 2021, 2022 AND 2023 ARE STILL OPEN AND SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt12024 MARGINS ALLOCATED TO MEMBERS 5,394,387
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1SCHEDULE D, PAGE 4, PART XII, LINE 4B
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