National Rural Electric Cooperative Association
- Assets
- $240.9m
- Revenue
- $194.9m
- Investments
- $28.5m
- Employees
- 796
- Location
- Arlington, VA
- Founding
- 03/1947
- Data as of
- 12/2021
- 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 12/2021, National Rural Electric Cooperative Association employed 796 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 12/2021, National Rural Electric Cooperative Association generated $194.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $197.3m during the year ending 12/2021. While expenses have increased by 1.6% 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
MEMBERSHIP ASSOCIATION DEDICATED TO REPRESENTING THE NATIONAL INTEREST OF COOPERATIVE ELECTRIC UTILITIES AND THE CONSUMERS THEY SERVE. NRECA HAS MORE THAN 900 VOTING MEMBERS, A MAJORITY OF WHICH ARE ELECTRIC COOPERATIVES THAT SERVE 42 MILLION CONSUMERS IN 48 STATES.
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.
MULTIPLE EMPLOYER BENEFIT PLAN ADMINISTRATION: NRECA PROVIDES PLAN ADMINISTRATION SERVICES TO THREE MULTIPLE EMPLOYER BENEFIT PROGRAMS IN WHICH MOST NRECA VOTING MEMBERS, AND SOME NRECA NONVOTING MEMBERS, CAN PARTICIPATE. THEY CONSIST OF TWO RETIREMENT PROGRAMS, THE NRECA RETIREMENT SECURITY PLAN, WHICH IS A DEFINED BENEFIT PENSION PLAN, AND THE NRECA 401(K) PENSION PLAN, WHICH IS A DEFINED CONTRIBUTION PENSION PLAN. BOTH PLANS ARE TAX QUALIFIED BENEFIT PLANS UNDER THE INTERNAL REVENUE CODE AND ARE REGULATED BY THE EMPLOYEE RETIREMENT INCOME SECURITY ACT. THESE TWO PLANS SERVE MORE THAN 60,000 ACTIVE AND RETIRED EMPLOYEES OF MOST NRECA VOTING MEMBERS AND SOME NRECA NONVOTING MEMBERS. THE THIRD PLAN IS THE NRECA GROUP BENEFITS PROGRAM, WHICH IS A VEBA TRUST THAT PROVIDES MEDICAL, DENTAL, VISION, AND DISABILITY COVERAGE, AND WHICH PROVIDES LIFE, AD&D, AND BUSINESS TRAVEL ACCIDENT INSURANCE, TO MOST NRECA VOTING MEMBERS AND SOME NRECA NONVOTING MEMBERS. THIS VEBA TRUST IS EXEMPT FROM INCOME TAX UNDER IRC SECTION 501(C)(9).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter Baxter Svp, Insurance & Finance | Officer | 52.2 | $1,977,832 |
Jim Matheson Chief Executive Officer | Officer | 44.6 | $1,972,905 |
John Szczur Vp, Investment Strat. & Pe | 40 | $1,233,903 | |
Jeffrey Connor Chief Operating Officer | Officer | 45.8 | $684,617 |
Louis Finkel SVP Government Relations | 49 | $603,646 | |
Richard Meyer Svp, General Counsel | 46 | $548,372 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Optomi Llc Staffing Services | 12/30/21 | $1,980,839 |
Collaborative Solutions Llc Software Consulting Services | 12/30/21 | $3,409,944 |
Willis Tower Watson Us Llc Profesional Consulting Services | 12/30/21 | $1,944,404 |
Coresite Lp It Security Consulting Services | 12/30/21 | $611,821 |
Slalom Consulting It Consulting Services | 12/30/21 | $744,750 |
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 | $186,402,990 |
| Investment income | $304,448 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $672,598 |
| Net Rental Income | $2,307,757 |
| 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 | $194,864,336 |
| 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. | $5,904,633 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $78,002,478 |
| Pension plan accruals and contributions | $24,632,888 |
| Other employee benefits | $13,104,056 |
| Payroll taxes | $5,832,384 |
| Fees for services: Management | $274,595 |
| Fees for services: Legal | $978,974 |
| Fees for services: Accounting | $118,129 |
| Fees for services: Lobbying | $260,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $14,549,774 |
| Advertising and promotion | $337,984 |
| Office expenses | $2,598,794 |
| Information technology | $5,144,345 |
| Royalties | $0 |
| Occupancy | $3,247,037 |
| Travel | $3,007,725 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,032,777 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,895,921 |
| Insurance | $781,550 |
| All other expenses | $13,726,351 |
| Total functional expenses | $197,265,051 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $15,648,223 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $34,440,543 |
| 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 | $17,248,029 |
| Net Land, buildings, and equipment | $95,287,073 |
| Investments—publicly traded securities | $34,946,559 |
| Investments—other securities | $28,542,546 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $14,777,321 |
| Total assets | $240,890,294 |
| Accounts payable and accrued expenses | $24,394,589 |
| Grants payable | $0 |
| Deferred revenue | $93,550,747 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $527,112 |
| 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 | $30,283,061 |
| Total liabilities | $148,755,509 |
| 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 | $92,134,785 |
| Total liabilities and net assets/fund balances | $240,890,294 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that National Rural Electric Cooperative Association has recieved totaling $193,054.
| Awarding Organization | Amount |
|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA PURPOSE: EDUCATIONAL FUND NRECA | $193,054 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Rural Electric Cooperative Association Arlington, VA | $240,890,294 | $194,864,336 |
Ctia-The Wireless Association Washington, DC | $237,780,114 | $87,124,498 |
Association Of American Railroads Washington, DC | $28,256,585 | $56,732,394 |
Municipal Securities Rulemaking Board Washington, DC | $78,531,119 | $35,699,202 |
American Gas Association Washington, DC | $54,599,533 | $35,694,026 |
National Association Of Corporate Directors Arlington, VA | $39,765,653 | $29,674,430 |
Association Of The United States Army Inc Arlington, VA | $92,353,784 | $27,615,070 |
National Association Of Counties Washington, DC | $110,279,270 | $28,057,928 |
American Public Power Assoc Arlington, VA | $27,597,409 | $24,009,237 |
American Public Transit Association Washington, DC | $25,928,823 | $18,627,373 |
National Association Of Federal Credit Unions Inc Arlington, VA | $31,185,033 | $18,837,903 |
National Telecommunications Cooperative Association Arlington, VA | $35,978,919 | $14,734,223 |