Tipmont Rural Electric Membership Corporation
- Assets
- $238.0m
- Revenue
- $75.8m
- Investments
- $0.0
- Employees
- 125
- Location
- Linden, IN
- Founding
- 12/1939
- Data as of
- 12/2021
- EIN
- 35-0711159
Organization Overview
Tipmont Rural Electric Membership Corporation is located in Linden, IN. The organization was established in 1939. 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 12/2021, Tipmont Rural Electric Membership Corporation employed 125 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tipmont 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 12/2021, Tipmont Rural Electric Membership Corporation generated $75.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.3% each year. All expenses for the organization totaled $75.8m during the year ending 12/2021. While expenses have increased by 3.3% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
DO THE RIGHT THINGS FOR OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION OF ELECTRICITY TO APPROXIMATELY 28,371 MEMBERS ON A COOPERATIVE BASIS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ronald Holcomb CEO | Officer | 55 | $299,899 |
Jennifer Rufatto Cmo | 50 | $216,491 | |
Jeremy Konkle COO | 50 | $212,378 | |
Jason M Monroe VP Sales | 50 | $188,147 | |
Travis Bailey VP Information Technology | 50 | $186,188 | |
Douglas J Martin VP Finance & Admin | 50 | $172,323 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Steptoe & Johnson Llp Legal Consultant | 12/30/21 | $2,838,822 |
Reel Telecommunication Services Llc Smart Grid Contractor | 12/30/21 | $1,822,240 |
Berry It Inc Smart Grid Contractor | 12/30/21 | $8,221,365 |
Jumpstart Communications Llic Smart Grid Contractor | 12/30/21 | $2,336,744 |
Mint City Tree Services Llc Tree Trimming | 12/30/21 | $1,554,793 |
Financial Statements
| 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 | $72,986,437 |
| Investment income | $42,876 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $134,571 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $75,841,839 |
| 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 | $3,504,391 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,369,560 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,815,406 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,717,188 |
| Insurance | $0 |
| All other expenses | $1,010 |
| Total functional expenses | $75,803,235 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,014,250 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,449,531 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,471,058 |
| Prepaid expenses and deferred charges | $119,816 |
| Net Land, buildings, and equipment | $179,098,936 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $40,728,364 |
| Intangible assets | $0 |
| Other assets | $1,127,509 |
| Total assets | $238,009,464 |
| Accounts payable and accrued expenses | $11,341,741 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $137,016,732 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,549,098 |
| Total liabilities | $156,907,571 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $99,785 |
| Retained earnings, endowment, accumulated income, or other funds | $81,002,108 |
| Total liabilities and net assets/fund balances | $238,009,464 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Wabash Valley Power Association Inc Indianapolis, IN | $1,308,025,251 | $757,452,533 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Dairyland Power Cooperative La Crosse, WI | $1,543,973,952 | $466,517,279 |
Midcontinent Independent System Operator Inc Carmel, IN | $2,446,006,704 | $407,489,988 |
Central Electric Power Cooperative Jefferson City, MO | $478,589,080 | $224,762,707 |
Warren Rural Electric Cooperative Corporation Bowling Green, KY | $321,679,939 | $226,511,221 |
Owen Electric Cooperative Inc Owenton, KY | $280,661,277 | $184,758,521 |
National Electrical Contractors Association Inc Kansas City, MO | $2,543,076 | $175,759,939 |
Southern Illinois Power Cooperative Marion, IL | $684,387,502 | $167,555,011 |
Prairie Power Inc Springfield, IL | $704,846,695 | $159,851,306 |
Citizens Electric Corporation Perryville, MO | $190,238,434 | $155,506,076 |