National Rural Electric Cooperative Association
- Assets
- $263.1m
- Revenue
- $213.2m
- Investments
- $24.4m
- Employees
- 789
- Location
- Arlington, VA
- Founding
- 03/1947
- Data as of
- 12/2023
- EIN
- 53-0116145
Organization Overview
National Rural Electric Cooperative Association is located in Arlington, VA. The organization was established in 1947. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, National Rural Electric Cooperative Association employed 789 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Rural Electric Cooperative 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, National Rural Electric Cooperative Association generated $213.2m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.6% each year. All expenses for the organization totaled $204.8m during the year ending 12/2023. While expenses have increased by 1.9% 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
SEE SCHEDULE O
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGULATORY, LEGAL, AND LEGISLATIVE: NRECA PROVIDES SUPPORT SERVICES TO VOTING MEMBERS RELATED TO COMPLIANCE, LEGAL, AND REGULATORY ISSUES. IN ADDITION, NRECA EDUCATES AND ADVOCATES TO MEMBERS OF CONGRESS AND THEIR STAFF, FEDERAL AGENCIES, AND THE ADMINISTRATION ON POLICY ISSUES IMPACTING NRECA VOTING MEMBERS AND THE 42 MILLION CONSUMER-MEMBERS SERVED BY NRECA VOTING MEMBERS, AND KEEPS OUR MEMBERSHIP INVOLVED WITH THE LEGISLATIVE PROCESS.
CONSULTING, TRAINING, AND CONFERENCES: NRECA PROVIDES VOTING MEMBERS WITH ESSENTIAL INDUSTRY SPECIFIC TRAINING AS WELL AS DIRECTOR, MANAGER, AND EMPLOYEE TRAINING; CONSULTING RELATED TO THE ORGANIZATION AND PROCESS IMPROVEMENTS, AND INDUSTRY AND TECHNOLOGICAL CHANGES; AND CONFERENCES AND MEMBERSHIP MEETINGS, PROMOTING COLLABORATION AND NETWORKING.
SEE SCHEDULE O
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jim Matheson Chief Executive Officer | Officer | 47.6 | $2,804,429 |
Peter Baxter SVP Insurance & Financial Serv | Officer | 54.6 | $1,107,481 |
Wayne Mcgurk SVP Chief Information Officer | Officer | 48 | $702,745 |
Corey Amon VP Investment Strategy & Perfo | 40 | $779,507 | |
Jeffrey Connor Chief Operating Officer | Officer | 46.8 | $713,577 |
Louis Finkel SVP Government Relations | 51 | $681,741 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Guidepoint Security Llc It Security Consulti | 12/30/23 | $1,681,885 |
Optomi Llc Staffing Services | 12/30/23 | $1,550,369 |
Reasonn Llc Software Consulting | 12/30/23 | $1,346,726 |
Danielle Corbin Magazine Advertising | 12/30/23 | $912,997 |
Lockton Companies Insurance | 12/30/23 | $1,083,136 |
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 | $187,541,970 |
| Investment income | $2,643,310 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $639,025 |
| Net Rental Income | $4,384,352 |
| 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 | $213,167,702 |
| 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. | $7,388,433 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $86,550,574 |
| Pension plan accruals and contributions | $15,386,765 |
| Other employee benefits | $14,071,070 |
| Payroll taxes | $6,362,278 |
| Fees for services: Management | $278,474 |
| Fees for services: Legal | $1,383,012 |
| Fees for services: Accounting | $124,561 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $13,880,145 |
| Advertising and promotion | $1,202,055 |
| Office expenses | $2,525,614 |
| Information technology | $5,028,069 |
| Royalties | $0 |
| Occupancy | $1,386,984 |
| Travel | $5,367,628 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,052,057 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,245,367 |
| Insurance | $1,043,096 |
| All other expenses | $8,626,696 |
| Total functional expenses | $204,797,431 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $76,168,612 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $16,748,443 |
| 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 | $16,808,108 |
| Net Land, buildings, and equipment | $80,324,381 |
| Investments—publicly traded securities | $35,199,839 |
| Investments—other securities | $24,365,052 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $13,509,630 |
| Total assets | $263,124,065 |
| Accounts payable and accrued expenses | $27,066,152 |
| Grants payable | $0 |
| Deferred revenue | $107,966,782 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $544,252 |
| 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 | $27,237,848 |
| Total liabilities | $162,815,034 |
| 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 | $100,309,031 |
| Total liabilities and net assets/fund balances | $263,124,065 |