Kosciusko Rural Electric Membership Corporation
- Assets
- $131.2m
- Revenue
- $51.5m
- Investments
- $15.4m
- Employees
- 47
- Location
- Warsaw, IN
- Founding
- 04/1941
- Data as of
- 12/2022
- EIN
- 35-0449575
Organization Overview
Kosciusko Rural Electric Membership Corporation is located in Warsaw, IN. The organization was established in 1941. 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, Kosciusko Rural Electric Membership Corporation employed 47 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kosciusko 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 12/2022, Kosciusko Rural Electric Membership Corporation generated $51.5m in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $49.7m during the year ending 12/2022. While expenses have increased by 1.3% 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
TO PROVIDE ELECTRICITY TO ITS MEMBER/CUSTOMERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE ELECTRICITY
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 |
|---|---|---|---|
William Stump Jr Director | Trustee | 1 | $5,690 |
Terry Bouse Director | Trustee | 1 | $13,650 |
John Hand Secretary/treasurer | Trustee | 1 | $12,935 |
Rick Parker Director | Trustee | 1 | $13,650 |
Daniel Tucker Vice-Chairman | Trustee | 1 | $12,600 |
Pam Messmore Director | Trustee | 1 | $12,600 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ervin Cable Construction Llc Fiber Construction | 12/30/22 | $8,726,661 |
Linetec Services Llc Line Rebuild | 12/30/22 | $3,315,576 |
Conexon Fiber Construction Management, Design, A | 12/30/22 | $2,554,779 |
Vonalas Inc Internet Fiber Drop Installs | 12/30/22 | $1,608,821 |
Ritchie Installation Internet Home Installs | 12/30/22 | $1,420,234 |
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 | $50,325,805 |
| Investment income | $203,788 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $36,500 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $51,459,225 |
| 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. | $875,402 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $371,631 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $17,122 |
| Fees for services: Accounting | $18,415 |
| 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 | $893,182 |
| 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 | $1,549,221 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,212,844 |
| Insurance | $0 |
| All other expenses | $766,750 |
| Total functional expenses | $49,742,337 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,753 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,628,775 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $576,689 |
| Prepaid expenses and deferred charges | $226,137 |
| Net Land, buildings, and equipment | $104,301,729 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $15,449,823 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $131,199,906 |
| Accounts payable and accrued expenses | $6,092,442 |
| 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 | $54,513,843 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,044 |
| Total liabilities | $60,619,329 |
| 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 | $443,524 |
| Retained earnings, endowment, accumulated income, or other funds | $70,137,053 |
| Total liabilities and net assets/fund balances | $131,199,906 |