Southeastern Indiana Rural Electric Membership Corporation is located in Osgood, IN. The organization was established in 1944. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2022, Southeastern Indiana Rural Electric Membership Corporation employed 87 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Southeastern Indiana Rural Electric Membership Corporation is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.
For the year ending 12/2022, Southeastern Indiana Rural Electric Membership Corporation generated $33.0m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $33.0m during the year ending 12/2022. While expenses have increased by 3.3% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE ELCTRIC SERVICE TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SALE AND DISTRIBUTION OF ELECTRICITY
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Jesse Mcclure Director, Secretary | Trustee | 5 | $13,150 |
Michael Thieman Director, President | Trustee | 5 | $16,900 |
Bradley Bentle Director | Trustee | 4 | $16,050 |
Casey Menchhofer Director | Trustee | 2 | $13,950 |
Melissa Menchhofer Director | Trustee | 7 | $17,650 |
Bonnie Boggs Director | Trustee | 3 | $14,300 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Pulse Broadband Llc (Nrtc) Broadband Services | 12/30/22 | $11,590,888 |
The Fishel Company Fiber Construction | 12/30/22 | $10,267,231 |
Electricom Llc Fiber Construction | 12/30/22 | $8,105,433 |
Delta Services Llc Electric Construction | 12/30/22 | $4,862,654 |
Townsend Tree Service Inc Right-of-way Clearing | 12/30/22 | $3,260,970 |
Statement of Revenue | |
---|---|
Federated campaigns | $0 |
Membership dues | $0 |
Fundraising events | $0 |
Related organizations | $0 |
Government grants | $0 |
All other contributions, gifts, grants, and similar amounts not included above | $0 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
Total Program Service Revenue | $2,431,099 |
Investment income | $150,951 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | $0 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $26,187,039 |
Miscellaneous Revenue | $0 |
Total Revenue | $32,977,068 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $4,006,679 |
Compensation of current officers, directors, key employees. | $1,626,026 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,271,814 |
Pension plan accruals and contributions | $718,929 |
Other employee benefits | $818,075 |
Payroll taxes | $308,649 |
Fees for services: Management | $0 |
Fees for services: Legal | $20,045 |
Fees for services: Accounting | $26,561 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $6,437,143 |
Advertising and promotion | $191,778 |
Office expenses | $1,595,924 |
Information technology | $573,203 |
Royalties | $0 |
Occupancy | $0 |
Travel | $935,779 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $32,954 |
Interest | $2,566,429 |
Payments to affiliates | $201,555 |
Depreciation, depletion, and amortization | $5,013,093 |
Insurance | $20,480 |
All other expenses | $0 |
Total functional expenses | $32,977,068 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $6,756,521 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $26,107,516 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $21,479,365 |
Prepaid expenses and deferred charges | $141,107 |
Net Land, buildings, and equipment | $150,408,298 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $53,221,624 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $258,114,431 |
Accounts payable and accrued expenses | $38,052,157 |
Grants payable | $0 |
Deferred revenue | $1,374,170 |
Tax-exempt bond liabilities | $0 |
Escrow or custodial account liability | $0 |
Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
Secured mortgages and notes payable | $0 |
Unsecured mortgages and notes payable | $123,899,425 |
Other liabilities | $3,299,722 |
Total liabilities | $166,625,474 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $91,488,957 |
Paid-in or capital surplus, or land, building, or equipment fund | $0 |
Retained earnings, endowment, accumulated income, or other funds | $0 |
Total liabilities and net assets/fund balances | $258,114,431 |