National Rural Utilities Cooperative Finance Corp
- Assets
- $31.2b
- Revenue
- $1.3b
- Investments
- $25.5m
- Employees
- 299
- Location
- Dulles, VA
- Founding
- 10/1969
- Data as of
- 05/2022
- EIN
- 52-0891669
Organization Overview
National Rural Utilities Cooperative Finance Corp is located in Dulles, VA. The organization was established in 1969. According to its NTEE Classification (W02) the organization is classified as: Management & Technical Assistance, under the broad grouping of Public & Societal Benefit and related organizations. As of 05/2022, National Rural Utilities Cooperative Finance Corp employed 299 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. National Rural Utilities Cooperative Finance Corp is a 501(c)(4) and as such, is described as a "Civic League, Social Welfare Organization, and Local Association of Employees" by the IRS.
For the year ending 05/2022, National Rural Utilities Cooperative Finance Corp generated $1.3b in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $983.5m during the year ending 05/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, National Rural Utilities Cooperative Finance Corp has awarded 418 individual grants totaling $13,471,806. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
BRIDGING THE FINANCIAL NEEDS OF THE RURAL ELECTRIC COOPERATIVE NETWORK WITH GLOBAL CAPITAL MARKETS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LENDING SERVICES:CFC PROVIDES LOANS TO ITS MEMBERS, RURAL ELECTRIC COOPERATIVES AND THEIR RELATED ORGANIZATIONS, AND GENERATES INTEREST INCOME FROM THESE LOANS. TO FUND ITS LENDING SERVICES, CFC RAISES FUNDS IN THE CAPITAL MARKETS OR PRIVATE THIRD PARTY TRANSACTIONS AND PAYS A RATE OF RETURN COMMENSURATE WITH CURRENT ECONOMIC CONDITIONS FOR THE USE OF THOSE FUNDS. THESE RAISED FUNDS PERMIT CFC TO MEET THE BORROWING NEEDS OF ITS MEMBERS SO THEY CAN CONTINUE TO PROVIDE ELECTRIC AND POWER SERVICES TO THE CONSUMERS AND BUSINESSES IN THE RURAL TERRITORIES SERVICED BY THOSE MEMBERS/BORROWERS. CFC OPERATES IN SUCH MANNER TO OBTAIN FUNDING BASED ON COST AVAILABLE TO IT AND PASSES THE COSTS AND RESULTING SAVINGS ALONG TO ITS BORROWERS.
INTEGRITY FUND -- UTILIZING A RESTRICTED CASH ACCOUNT, CFC MANAGES A VOLUNTARY FUND ESTABLISHED FOR THE PURPOSE OF ASSISTING COOPERATIVES IN DEFENDING THEIR COOPERATIVE TERRITORIES AND PROTECTING COOPERATIVE PRINCIPLES.
EDUCATION FUND -- EACH STATEWIDE ASSOCIATION AND ELIGIBLE REGIONAL ASSOCIATION WILL SUBMIT AN APPLICATION FORM DESCRIBING THE PROGRAM FOR WHICH THE GRANT WILL BE USED. CFC CALCULATES THE AMOUNT ALLOTTED TO EACH APPLICANT DURING THE FISCAL YEAR BASED UPON THE TOTAL NUMBER OF CO-OPS WHICH ARE MEMBERS OF CFC AND OF THE ASSOCIATION, WITH RESPECT TO STATEWIDE ASSOCIATIONS, THE NUMBER OF STATES EACH APPLICANT REPRESENTS, AND THE NUMBER OF CO-OPS THAT ARE 100% CFC BORROWERS. THE SENIOR VICE PRESIDENT OF CFC'S CORPORATE RELATIONS GROUP APPROVES THE APPLICATIONS MADE BY THE ASSOCIATIONS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathon Andrew Don CEO | Officer | 60 | $2,443,207 |
Gregory Starheim Until 521 Former Svp, Bus & Ind Dev | 60 | $1,449,838 | |
Sheldon C Petersen Until 521 Former CEO | 65 | $1,441,852 | |
Graceann Clendenen Until 621 SVP & Cao | Officer | 25 | $1,041,142 |
Roberta B Aronson Until 322 SVP & Corporate Counsel | Officer | 55 | $833,954 |
Joel Allen Svp, Member Services Group | Officer | 55 | $561,962 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fis Capital Markets Llc Financial Services | 5/30/22 | $2,154,335 |
Hogan Lovells Us Llp Legal Services | 5/30/22 | $2,152,317 |
Fidelity Information Services Llc It Services | 5/30/22 | $4,308,076 |
Sunera Technologies Inc It Services | 5/30/22 | $3,557,765 |
Corporate Brokers Llc Dba Tential It Services | 5/30/22 | $4,257,397 |
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 | $1,233,158,933 |
| Investment income | $15,951,011 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,352,307 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,254,440,999 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,233,725 |
| 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. | $14,977,615 |
| Compensation of current officers, directors, key employees. | $14,977,615 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $24,912,038 |
| Pension plan accruals and contributions | $7,132,458 |
| Other employee benefits | $3,534,367 |
| Payroll taxes | $2,769,184 |
| Fees for services: Management | $814,200 |
| Fees for services: Legal | $579,094 |
| Fees for services: Accounting | $1,610,880 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $815,235 |
| Fees for services: Other | $5,027,664 |
| Advertising and promotion | $1,156,110 |
| Office expenses | $1,381,694 |
| Information technology | $9,776,681 |
| Royalties | $0 |
| Occupancy | $2,832,443 |
| Travel | $2,096,834 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,591,145 |
| Interest | $887,289,629 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,553,324 |
| Insurance | $637,733 |
| All other expenses | $72,356 |
| Total functional expenses | $983,494,924 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $105,496,178 |
| Savings and temporary cash investments | $53,957,138 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $142,089,900 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $29,975,930,812 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $8,813,315 |
| Net Land, buildings, and equipment | $101,762,170 |
| Investments—publicly traded securities | $574,383,962 |
| Investments—other securities | $25,520,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $233,861,119 |
| Total assets | $31,221,814,594 |
| Accounts payable and accrued expenses | $5,137,787,247 |
| Grants payable | $0 |
| Deferred revenue | $42,362,755 |
| 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 | $16,051,388,197 |
| Unsecured mortgages and notes payable | $7,714,731,233 |
| Other liabilities | $154,836,719 |
| Total liabilities | $29,101,106,151 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $970,400 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $2,119,738,043 |
| Total liabilities and net assets/fund balances | $31,221,814,594 |
Grants Awarded
Over the last fiscal year, National Rural Utilities Cooperative Finance Corp has awarded $1,227,258 in support to 41 organizations.
| Grant Recipient | Amount |
|---|---|
Arlington, VA PURPOSE: EDUCATIONAL FUND NRECA | $193,054 |
Jefferson City, MO PURPOSE: INTEGRITY FUND & EDUC FUND - YOUTH TOUR /CONF & LEADERSHIP EXP. (CYCLE) | $170,200 |
La Junta, CO PURPOSE: INTEGRITY FUND - TERRITORY THREAT | $110,000 |
Springfield, IL PURPOSE: EDUCATIONAL FUND-EDUCATIONAL PROGRAMS | $48,000 |
TEXAS ELECTRIC COOPERATIVES INC PURPOSE: EDUCATIONAL FUND-YOUR TOUR MAGAZINE AND TEXAS CO-OP POWER TOOL KIT | $47,800 |
Madison, WI PURPOSE: EDUCATIONAL FUND-WISCONSIN YOUTH LEADERSHIP CONGRESS | $42,200 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that National Rural Utilities Cooperative Finance Corp has recieved totaling $25,002.
| Awarding Organization | Amount |
|---|---|
First Electric Cooperative Corporation Jacksonville, AR PURPOSE: INTEGRITY FUND DONATION FOR COOPERATIVE SUPPORT | $10,000 |
Tri-County Electric Cooperative Inc Hooker, OK PURPOSE: FUNDING OF INTEGRITY FUND | $10,000 |
Mountain View Electric Assoc Inc Limon, CO PURPOSE: INTEGRITY FUND CONTRIBUTION | $5,002 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Rural Utilities Cooperative Finance Corp Dulles, VA | $31,221,814,594 | $1,254,440,999 |
South Central Human Resource Agency Inc Fayetteville, TN | $18,690,706 | $37,175,959 |
State Services Organization Inc Washington, DC | $22,222,827 | $14,530,247 |
Institute For War & Peace Reporting Us Washington, DC | $3,826,590 | $14,944,465 |
Society Of American Military Engineers Alexandria, VA | $13,723,509 | $8,826,006 |
Rivervalley Consulting Services Inc Owensboro, KY | $418,804 | $4,530,776 |
National Postal Forum Fairfax, VA | $4,860,406 | $1,117,826 |
Xbrl Us Inc Washington, DC | $747,316 | $1,216,813 |
International Registration Plan Inc Lake Ridge, VA | $6,767,213 | $2,522,513 |
Data Foundation Washington, DC | $1,618,676 | $1,468,667 |
Tech For Troops Richmond, VA | $370,247 | $496,990 |
Public Entity Risk Institute Alexandria, VA | $6,109,209 | $637,966 |