Daviess-Martin County Rural Telephone Corporation
- Assets
- $38.8m
- Revenue
- $7.7m
- Investments
- $0.0
- Employees
- 26
- Location
- Montgomery, IN
- Founding
- 12/1952
- Data as of
- 09/2019
- EIN
- 35-0855641
Organization Overview
Daviess-Martin County Rural Telephone Corporation is located in Montgomery, IN. The organization was established in 1952. According to its NTEE Classification (W50) the organization is classified as: Telecommunications, under the broad grouping of Public & Societal Benefit and related organizations. As of 09/2016, Daviess-Martin County Rural Telephone Corporation employed 26 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Daviess-Martin County Rural Telephone 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 09/2019, Daviess-Martin County Rural Telephone Corporation generated $7.7m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $6.5m during the year ending 09/2019. While expenses have increased by 4.1% per year over the past 2 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION PROVIDES TELECOMMUNICATIONS SERVICES TO ITS PATRONS ON A NON-PROFIT BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE COMPANY PROVIDES TELECOMMUNICATIONS, INTERNET AND VIDEO SERVICES TO OVER 2,800 PATRONS ON A NON-PROFIT BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Jo Holsopple Director | Trustee | 1 | $4,250 |
Todd Allison Director | Trustee | 1 | $6,515 |
Joshua Bauer Director | Trustee | 1 | $7,840 |
Dave Frigen Executive V.P. | Officer | 40 | $73,836 |
Curtis Hornaday President | Officer | 1 | $4,850 |
Bennie Lawyer Secretary/treasurer | Officer | 1 | $5,225 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $21,182 |
| 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 | $7,744,077 |
| Statement of Expenses | |
|---|---|
| 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. | $169,680 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $31,271 |
| Fees for services: Accounting | $242,850 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $337,170 |
| Advertising and promotion | $106,490 |
| Office expenses | $0 |
| 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 | $38,375 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,532,309 |
| Insurance | $0 |
| All other expenses | $1,364,346 |
| Total functional expenses | $6,460,626 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,384,271 |
| Savings and temporary cash investments | $2,567,465 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $549,106 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $185,767 |
| Prepaid expenses and deferred charges | $184,626 |
| Investments—publicly traded securities | $441 |
| Investments—other securities | $0 |
| Investments—program-related | $12,592,524 |
| Intangible assets | $0 |
| Other assets | $721,850 |
| Total assets | $38,835,355 |
| Accounts payable and accrued expenses | $1,246,767 |
| 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 | $2,499,858 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $15,702 |
| Total liabilities | $3,762,327 |
| 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 |
| Total liabilities and net assets/fund balances | $35,073,028 |