Nebraska Rural Electric Association
- Assets
- $2.2m
- Revenue
- $2.9m
- Investments
- $1.3k
- Employees
- 5
- Location
- Lincoln, NE
- Founding
- 01/1948
- Data as of
- 12/2023
- EIN
- 47-0394033
Organization Overview
Nebraska Rural Electric Association is located in Lincoln, NE. The organization was established in 1948. According to its NTEE Classification (S21) the organization is classified as: Community Coalitions, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Nebraska Rural Electric Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nebraska Rural Electric Association is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2023, Nebraska Rural Electric Association generated $2.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $2.9m during the year ending 12/2023. While expenses have increased by 2.4% per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORTS MEMBERS BY PROVIDING ESSENTIAL SERVICES RELATED TO ELECTRIFICATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE TRADE ASSOCIATION HAS 34 RURAL ELECTRIC SYSTEMS THAT PROVIDE ELECTRIC SERVICES IN RURAL AREAS AND SMALL TOWNS IN NEBRASKA. NEBRASKA RURAL ELECTRIC ASSOCIATION PROVIDES THEIR MEMBER-SYSTEMS WITH MAGAZINE, DIRECTORY, AND PUBLIC RELATIONS SUPPORT; JOB TRAINING, EDUCATION AND SAFETY; ADVOCACY AND REGULATORY COMPLIANCE; AND OTHER SPECIAL SERVICES RELATED TO ELECTRIFICATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ac Hecox President | OfficerTrustee | 2 | $4,600 |
Greg Strehle Vice President | OfficerTrustee | 2 | $2,400 |
Kevin Thomas Director | OfficerTrustee | 2 | $600 |
Brent Evans Director | Trustee | 1 | $1,200 |
David Woods Director | Trustee | 1 | $1,400 |
Marcus Milanuk Director | Trustee | 1 | $1,400 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Northeast Community College Contract Labor | 12/30/23 | $334,909 |
Custer Ppd General Manager Contract | 12/30/23 | $225,000 |
Aradius Magazine Production/printing | 12/30/23 | $237,289 |
Blankenau Wilmoth Jarecke Llp Legal Services | 12/30/23 | $104,634 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,757,896 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $23,050 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,780,946 |
| Total Program Service Revenue | $1,052,585 |
| Investment income | $72,126 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,926,668 |
| 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 | $0 |
| Compensation of current officers, directors, key employees. | $38,200 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $463,405 |
| Pension plan accruals and contributions | $116,956 |
| Other employee benefits | $89,516 |
| Payroll taxes | $43,791 |
| Fees for services: Management | $225,000 |
| Fees for services: Legal | $64,871 |
| Fees for services: Accounting | $79,249 |
| Fees for services: Lobbying | $9,499 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $583,352 |
| Advertising and promotion | $39,592 |
| Office expenses | $23,577 |
| Information technology | $20,965 |
| Royalties | $0 |
| Occupancy | $62,356 |
| Travel | $54,993 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $454,691 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $31,346 |
| Insurance | $16,931 |
| All other expenses | $0 |
| Total functional expenses | $2,927,879 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,369,126 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $143,484 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $116,963 |
| Net Land, buildings, and equipment | $502,507 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $1,250 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,808 |
| Total assets | $2,166,138 |
| Accounts payable and accrued expenses | $249,537 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $109,279 |
| Total liabilities | $358,816 |
| Net assets without donor restrictions | $1,807,322 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $2,166,138 |