Civic Intelligence

Rural Electric Convenience Cooperative Co

EIN 37-0495772 • 501(c)12 • Auburn, IL

Profile

As an energy and services

PO Box 19Auburn, IL 62615-0019

www.recc.coop

Siviq Scores

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

Liabilities / Assets

90th percentile

0.66x

Higher debt load relative to assets than 90% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Liabilities / Revenue

61st percentile

1.71x

Higher debt load relative to revenue than 61% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Net Margin

34th percentile

0.0%

Higher net margin than 34% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Top Officer Pay

67th percentile

$251,541

Higher top officer pay than 67% of similar nonprofits.

Top officer pay equals 1.5% of source-year revenue.

501(c)12 • $25M-$50M nonprofits • Source year 2024

Asset Growth

33rd percentile

1.8%

Faster asset growth than 33% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Revenue Growth

59th percentile

6.0%

Faster revenue growth than 59% of similar nonprofits.

501(c)12 • $25M-$50M nonprofits • Annualized from 2023 to 2024

Assets

Up

$44,896,106

Up $2,183,859 (+5.1%) from 2020

Liabilities

Up

$29,452,419

Up $333,110 (+1.1%) from 2020

Net Assets

Up

$15,443,687

Up $1,850,749 (+14%) from 2020

Revenue

Up

$17,182,657

Up $2,829,229 (+20%) from 2020

Expenses

Up

$17,182,657

Up $2,829,229 (+20%) from 2020

Net Income

Flat

$0

Flat from 2020

Trend Graphs

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $35,610,280Liabilities 2010: $25,573,119Net Assets 2010: $10,037,1612010Assets 2011: $36,153,172Liabilities 2011: $25,968,058Net Assets 2011: $10,185,1142011Assets 2012: $36,279,709Liabilities 2012: $25,390,093Net Assets 2012: $10,889,6162012Assets 2013: $38,339,399Liabilities 2013: $26,931,697Net Assets 2013: $11,407,7022013Assets 2014: $38,348,958Liabilities 2014: $26,358,737Net Assets 2014: $11,990,2212014Assets 2016: $39,583,029Liabilities 2016: $27,304,884Net Assets 2016: $12,278,1452016Assets 2017: $39,591,483Liabilities 2017: $27,462,107Net Assets 2017: $12,129,3762017Assets 2018: $40,270,471Liabilities 2018: $27,651,698Net Assets 2018: $12,618,7732018Assets 2019: $41,956,194Liabilities 2019: $29,000,008Net Assets 2019: $12,956,1862019Assets 2020: $42,712,247Liabilities 2020: $29,119,309Net Assets 2020: $13,592,9382020Assets 2024: $44,896,106Liabilities 2024: $29,452,419Net Assets 2024: $15,443,6872024

Highlighted filing

2024

Assets$44,896,106
Liabilities$29,452,419
Net Assets$15,443,687

Operations Trend

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

$20M$15M$10M$5.0M$0-$5.0MExpenses 2010: $14,505,8882010Expenses 2011: $14,362,5132011Expenses 2012: $14,189,5382012Revenue 2013: $15,576,781Expenses 2013: $15,055,533Net Income 2013: $521,2482013Revenue 2014: $16,073,236Expenses 2014: $15,491,002Net Income 2014: $582,2342014Revenue 2016: $15,536,845Expenses 2016: $15,401,701Net Income 2016: $135,1442016Revenue 2017: $15,274,367Expenses 2017: $15,446,954Net Income 2017: -$172,5872017Revenue 2018: $14,540,149Expenses 2018: $14,540,149Net Income 2018: $02018Revenue 2019: $14,339,410Expenses 2019: $14,339,410Net Income 2019: $02019Revenue 2020: $14,353,428Expenses 2020: $14,353,428Net Income 2020: $02020Revenue 2024: $17,182,657Expenses 2024: $17,182,657Net Income 2024: $02024

Highlighted filing

2024

Revenue$17,182,657
Expenses$17,182,657
Net Income$0

Filings

Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 31, 2025
Return Version
2024v5.2
Gross Receipts
$17,182,657
Mission and Program Overview

Mission

As an energy and services Cooperative, our Members' needs are Rural Electric Convenience Cooperative's first priority.

As an energy and services cooperative, our Members needs are Rural Electric Convenience Cooperatives first priority.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$39,183,676$39,454,175▲ $270,499
Rtn Earn Endowment Incm Other Fnds$13,636,077$14,052,164▲ $416,087
Investments Program Related$2,079,948$2,179,127▲ $99,179
Accounts Receivable$1,682,909$1,718,282▲ $35,373
Pd in Cap Srpls Land Bldg Eqp Fund$1,151,709$1,391,523▲ $239,814
Inventories for Sale or Use$751,993$808,242▲ $56,249
Cash and Non-Interest-Bearing Accounts$177,681$471,331▲ $293,650
Prepaid Expenses and Deferred Charges$234,350$264,949▲ $30,599
Total Assets$44,110,557$44,896,106▲ $785,549
Liabilities
Mortgage Notes Payable Secured by Investment Property$25,804,863$26,057,960▲ $253,097
Accounts Payable and Accrued Expenses$2,077,652$2,214,548▲ $136,896
Unsecured Notes Loans Payable$825,000$705,000▼ $120,000
Other Liabilities$301,212$285,291▼ $15,921
Deferred Revenue$314,044$189,620▼ $124,424
Total Liabilities$29,322,771$29,452,419▲ $129,648
Net Assets / Fund Balance
Total Net Assets Fund Balance$14,787,786$15,443,687▲ $655,901
Total Liabilities and Net Assets / Fund Balance$44,110,557$44,896,106▲ $785,549

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$38,870,789$21,059,768$59,930,557
Buildings$561,177$951,741$1,512,918
Land$22,209-$22,209
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Sean R MiddletonPresidentCEOFT$206,605$44,936$251,541
Timothy HembergerMgr OperationsFT$111,483$99,925$211,408
Aubrie MegginsonMgr FinanceAdmnFT$98,142$34,248$132,390
Gary NiemyerDirector-$17,250-$17,250
Cassie EigenmannDirector-$16,875-$16,875
Chris WilcoxDirectorPT$15,000-$15,000
Thomas HartDirector-$14,625-$14,625
Jimmy AyersDirector-$13,125-$13,125
Melvin RepescherDirector-$12,375-$12,375
Andy GolemanDirector-$7,500-$7,500
Neil BryanDirector-$7,350-$7,350
Clayton BloomeDirector-$6,375-$6,375

Highest Paid Contractors

ContractorServicesLocationCompensation
United Utility SupplyMaterial SupplierPO Box 32170, Louisville, KY 40232$376,372
Fletcher-Reinhardt CoMaterial Supplier3105 Corporate Exchange Court, Bridgeton, MO 63044$368,536
Farm Credit Leasing ServicesVehicle LeasingNW-9675 PO Box 1450, Minneapolis, MN 55485$344,809
Huxfor Pole & Timber CO INCMaterial SupplierPO Box 69, Huxford, AL 36543$183,779
Foiles Tree ServiceTree Contractor1018 NW 650 Ave, Hillview, IL 62050$155,900
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$17,168,032
Investment Income
$27,267
Other Revenue
$-12,642
Change in Net Assets
$0

Audited Revenue Reconciliation

Revenue per Audited Statements
$17,182,657
Total Revenue per Audited Statements
$17,182,657
Total Revenue per Form 990
$17,182,657
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$15,721,634
Salaries, Compensation, and Employee Benefits$705,814
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$1,744,813
Interest---$1,133,749
Benefits to Members---$755,209
Current Officers, Directors, Trustees, and Key Employees---$705,814
Other Expenses$362,272--$362,272
All Other Expenses---$55,089
Total Functional Expenses$0$0$0$17,182,657

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$17,182,657
Expenses per Audited Statements$16,427,448
Total Expenses per Audited Statements$16,427,448
Expenses Not Reported on Financial Statements$755,209
Other Expense Adjustments$755,209
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Post Retirement Benefits$285,291
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
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Organizational document changes Part VI line 4

Bylaws amended to include broadband communication services in regards to membership, captial credits and directors. Also includes minor language adjustments for clarification. Lastly, the upper limit of indebtness the coop can occur was increased.

Members or stockholder classes and rights Part VI line 6

The Cooperative is a member owned Cooperative.

Member election for additional members Part VI line 7A

All Board members are elected by the membership.

Governing body decisions Part VI line 7B

Any bylaw changes are approved by the Members.

Form 990 governing body review Part VI line 11

The IRS Form 990 is reviewed by management and then emailed to the Board Members.

Conflict of interest policy compliance Part VI line 12C

The Organization is self policed. Typically Directors and Key Employees are re-addressed before conflicts could arise.

CEO executive director top management comp Part VI line 15A

The process for determining compensation of the Organizations CEO is done through an anuual review by the Board.

Governing documents etc available to public Part VI line 19

Bylaws are offered to all new Members; all other documents are available at any time upon request.

Filing and Contact Details

Filer

Filer Name
Rural Electric Convenience Cooperative
EIN
37-0495772
In Care Of
% Sean R Middleton
Phone
2174386197
Address
PO Box 19, Auburn, IL 62615-0019

Signing Officer

Name
Sean R Middleton
Title
PresidentCEO
Phone
2174386197
Signed
2025-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Sean R Middleton
Formed
1936
Legal Domicile
Il
Voting Board Members
9
Independent Board Members
9
Employees
28

Preparer

Firm
Kelso Lynch PC PA
Address
6700 Squibb Rd Ste 215, Mission, KS 66202-3252
Preparer
George Lynch
Phone
9138311150
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

Net Margins Assigned to Members $ 755,209Other Changes $ 5Retirement of Capital Credits $ -99,313 Total $ 655,901

Part IX response or note to any line in Part IX

Form 990, Part IX, Line 4The instructions to the 2024 Form 990 indicate that organizations exempt under Section 501(c)(12) should report patronage dividends paid to their members in Part IX, Line 4 of the Form 990. The Cooperative has interpreted the words patronage dividends paid in the instructions to mean margins that are assigned or assignable to the members. The Cooperative assigns the net margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assignable to the members for the calendar year ended December 31, 2024.

Financial Statement Notes

Part XII, Line 4B-Other expenses not included on Sch D but on 990

Current Year Margins Assigned to Members $755,209

Part X, Line 2-Text in footnote regarding FIN 48 (ASC 740)

The Cooperative has a letter of exemption from federal income tax, issued by the Internal RevenueService and files IRS Form 990 annually. An evaluation of whether or not it has any uncertain taxpositions is determined on an annual basis by the Cooperative. While the Cooperative believes it hasadequately provided for all tax positions, amounts asserted by taxing authorities could be differentthan the positions taken by the Cooperative. The Cooperative recognizes any interest and penaltiesassessed by taxing authorities in income tax expense and, with few exceptions, is no longer subjectto federal, state and local income tax examinations for years prior to 2021.

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IRS990/PrincipalOfficerNm0Sean R Middleton
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Current Year Margins Assigned to Members $755,209
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1The Cooperative has a letter of exemption from federal income tax, issued by the Internal RevenueService and files IRS Form 990 annually. An evaluation of whether or not it has any uncertain taxpositions is determined on an annual basis by the Cooperative. While the Cooperative believes it hasadequately provided for all tax positions, amounts asserted by taxing authorities could be differentthan the positions taken by the Cooperative. The Cooperative recognizes any interest and penaltiesassessed by taxing authorities in income tax expense and, with few exceptions, is no longer subjectto federal, state and local income tax examinations for years prior to 2021.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Part XII, Line 4b-Other expenses not included on Sch D but on 990
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Part X, Line 2-Text in footnote regarding FIN 48 (ASC 740)
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0Timothy Hemberger
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1Sean R Middleton
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0Mgr Operations
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1PresidentCEO
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0Bylaws amended to include broadband communication services in regards to membership, captial credits and directors. Also includes minor language adjustments for clarification. Lastly, the upper limit of indebtness the coop can occur was increased.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1The Cooperative is a member owned Cooperative.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2All Board members are elected by the membership.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3Any bylaw changes are approved by the Members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4The IRS Form 990 is reviewed by management and then emailed to the Board Members.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5The Organization is self policed. Typically Directors and Key Employees are re-addressed before conflicts could arise.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6The process for determining compensation of the Organizations CEO is done through an anuual review by the Board.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7Bylaws are offered to all new Members; all other documents are available at any time upon request.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8Net Margins Assigned to Members $ 755,209Other Changes $ 5Retirement of Capital Credits $ -99,313 Total $ 655,901
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt9Form 990, Part IX, Line 4The instructions to the 2024 Form 990 indicate that organizations exempt under Section 501(c)(12) should report patronage dividends paid to their members in Part IX, Line 4 of the Form 990. The Cooperative has interpreted the words patronage dividends paid in the instructions to mean margins that are assigned or assignable to the members. The Cooperative assigns the net margins to its members each year. Therefore, the amount listed in Part IX, Line 4 represents the net margins assignable to the members for the calendar year ended December 31, 2024.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Organizational document changes Part VI line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6CEO executive director top management comp Part VI line 15a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Explanation of other changes in net assets or fund balances Part XI line 9
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc9Part IX response or note to any line in Part IX
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