Carroll White Remc
- Assets
- $77.6m
- Revenue
- $46.4m
- Investments
- -$5.9m
- Employees
- 53
- Location
- Monticello, IN
- Founding
- 04/2013
- Data as of
- 12/2021
- EIN
- 45-3593334
Organization Overview
Carroll White Remc is located in Monticello, IN. The organization was established in 2013. 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 12/2021, Carroll White Remc employed 53 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Carroll White Remc 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 12/2021, Carroll White Remc generated $46.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.4% each year. All expenses for the organization totaled $46.4m during the year ending 12/2021. While expenses have increased by 1.4% 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
PROVIDE ELECTRICITY AND RELATED SERVICES TO OUR MEMBERS- CREATIVELY ENHANCING OUR COMMUNITY THROUGH SAFETY AND SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
N/A
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Randy W Price CEO | 48.69 | $214,037 | |
Catherine Raderstorf COO | 47.26 | $158,579 | |
Matthew Kent Journeyman Lineman | 49.35 | $136,203 | |
Corbin Beamer Journeyman/lineman | 49.29 | $132,625 | |
Mark Jargstorf Dir Of Operations | 47.18 | $132,395 | |
Frank Leach Journeyman/lineman | 50.19 | $131,705 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Mint City Tree Service Llc Tree Trimming | 12/30/21 | $1,016,100 |
Linetec Services Llc Line Construction | 12/30/21 | $279,000 |
Electricom Llc Line Construction | 12/30/21 | $442,020 |
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 | $45,316,018 |
| Investment income | $49,936 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $20,554 |
| Net Gain/Loss on Asset Sales | $17,447 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $277 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $46,434,460 |
| 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 | $1,935,514 |
| Compensation of current officers, directors, key employees. | $311,584 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,611,252 |
| Pension plan accruals and contributions | $662,588 |
| Other employee benefits | $979,312 |
| Payroll taxes | $167,312 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $162,795 |
| Fees for services: Accounting | $23,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $256,641 |
| Advertising and promotion | $0 |
| Office expenses | $188,566 |
| Information technology | $21,043 |
| 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 | $24,103 |
| Interest | $831,956 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,103,716 |
| Insurance | $110,890 |
| All other expenses | $0 |
| Total functional expenses | $46,434,460 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,248,961 |
| Savings and temporary cash investments | $1,000,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,631,357 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,769,054 |
| Inventories for sale or use | $1,376,949 |
| Prepaid expenses and deferred charges | $3,648,492 |
| Net Land, buildings, and equipment | $49,441,520 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | -$5,891,475 |
| Investments—program-related | $14,401,832 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $77,626,690 |
| Accounts payable and accrued expenses | $4,014,695 |
| 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 | $25,171,847 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $582,564 |
| Total liabilities | $29,769,106 |
| 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 | $47,857,584 |
| Total liabilities and net assets/fund balances | $77,626,690 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northeastern Rural Electric Membership Corporation Columbia City, IN | $154,005,839 | $126,158,719 |
Salt River Electric Bardstown, KY | $187,060,575 | $114,408,015 |
Jackson Energy Cooperative Corporat Ion Inc Mckee, KY | $284,949,026 | $109,799,636 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
Hendricks County Rural Electric Membership Corporation Danville, IN | $222,904,007 | $97,103,288 |
South Central Indiana Rural Electric Membership Corporation Martinsville, IN | $273,130,010 | $92,514,436 |
Northeast Missouri Electric Power Cooperative Palmyra, MO | $173,630,221 | $92,260,519 |
West Kentucky Rural Electric Cooperative Corporation Mayfield, KY | $175,044,197 | $94,020,746 |
Southeastern Illinois Electric Carrier Mills, IL | $211,832,578 | $85,978,289 |
Corn Belt Electric Cooperative Inc Bloomington, IL | $225,280,163 | $84,317,914 |
Nolin Rural Electric Cooperative Corporation Elizabethtown, KY | $169,060,241 | $80,995,142 |
Fleming-Mason Energy Cooperative Inc Flemingsburg, KY | $142,667,683 | $79,467,396 |