Carroll White Remc
- Assets
- $80.2m
- Revenue
- $48.2m
- Investments
- -$5.9m
- Employees
- 47
- Location
- Monticello, IN
- Founding
- 04/2013
- Data as of
- 12/2022
- EIN
- 45-3593334
Organization Overview
Carroll White Remc is located in Monticello, IN. The organization was established in 2013. 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, Carroll White Remc employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carroll White Remc 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, Carroll White Remc generated $48.2m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $48.2m during the year ending 12/2022. While expenses have increased by 1.6% 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
PROVIDE ELECTRICITY AND RELATED SERVICES TO OUR MEMBERS- CREATIVELY ENHANCING OUR COMMUNITY THROUGH SAFETY AND SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Jargstorf Dir Of Operations | 43.69 | $137,814 | |
Catherine Raderstorf CEO | 46.13 | $203,750 | |
Travis Albright Director Of It | 41.52 | $129,642 | |
Frank Leach Journeyman/lineman | 50.58 | $139,667 | |
Matthew Kent Journeyman Lineman | 49.56 | $140,771 | |
Tyson Jones Journeyman/lineman | 49.84 | $139,859 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mint City Tree Service Llc Tree Trimming | 12/30/22 | $1,550,478 |
Electricom Llc Line Construction | 12/30/22 | $973,525 |
Linetec Services Llc Line Construction | 12/30/22 | $275,000 |
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 | $46,970,053 |
| Investment income | $71,590 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $109,422 |
| Net Gain/Loss on Asset Sales | $94,215 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,275 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $48,177,208 |
| 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 | $1,709,511 |
| Compensation of current officers, directors, key employees. | $382,173 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,724,377 |
| Pension plan accruals and contributions | $794,934 |
| Other employee benefits | $1,029,008 |
| Payroll taxes | $180,275 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $20,474 |
| Fees for services: Accounting | $21,845 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $116,284 |
| Advertising and promotion | $87,587 |
| Office expenses | $79,272 |
| Information technology | $132,520 |
| 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 | $46,062 |
| Interest | $903,147 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,188,351 |
| Insurance | $119,265 |
| All other expenses | $0 |
| Total functional expenses | $48,177,208 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,449,569 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,743,773 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,500,355 |
| Inventories for sale or use | $1,481,626 |
| Prepaid expenses and deferred charges | $3,772,172 |
| Net Land, buildings, and equipment | $53,233,758 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | -$5,857,866 |
| Investments—program-related | $14,851,758 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $80,175,145 |
| Accounts payable and accrued expenses | $4,086,505 |
| 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 | $26,646,136 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $481,338 |
| Total liabilities | $31,213,979 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $48,961,166 |
| Total liabilities and net assets/fund balances | $80,175,145 |