Boone County Rural Electric Membership Corp

Lebanon, IN
Tax-exempt since June 1938
EIN: 35-0188040

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Type of Nonprofit

Designated as a 501(c)(12) Benevolent life insurance associations, irrigation companies, telephone companies, etc., which have a mutually beneficial nature.

Donations to this organization are not tax deductible.

Details

According to its Dec. 2022 tax filing, this nonprofit:

Reported conflict of interest transactions

Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Revenue

$63.1M (2022)

Expenses

$58.6M (2022)

Total Assets

$160M (2022)

Total Liabilities

$98.2M (2022)

Years with missing data

Source: Form 990 tax filings from 2011 to 2022

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending Dec.
2022

Revenue

$63,135,395

Expenses

$58,558,112

Net Income

$4,577,283

Net Assets

$61,453,740

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$62,007,017	98.2%
Investment Income	$70,641	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$73,943
Net Inventory Sales	-$260
Other Revenue	$1,131,940	1.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,318,423	2.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,530,580	2.6%

Assets/Debt
Total Assets	$159,678,788
Total Liabilities	$98,225,048
Net Assets	$61,453,740

Club or Co-Op Income
Income From Members	$62,007,017
Income From Other Sources	$1,107,035

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
William Conley (Ceo/President)	$303,417	$0	$169,056
Corey Willis (Vp Of Corporate Development & Technology)	$160,408	$0	$74,846
Jeffrey Dickerson (Vp Of Operations)	$159,373	$0	$106,616
Allen Jones (Vp Of Engineering Services)	$150,766	$0	$108,396
Benjamin Duke (Acting Cfo/Vp Of Corporate Services)	$150,064	$0	$47,988
Pam Warmoth (Executive Assistant & Hr Coordinator)	$121,793	$0	$94,008
Robert Hawkins (Line Superintendent)	$118,812	$0	$65,088
Noel Kendall (Chairman)	$24,560	$0	$0
Mark Gruninger (Secretary/Treasesurer)	$19,560	$0	$0
Jon Stevens (Director)	$18,960	$0	$0
Alan Cragun (Director)	$16,560	$0	$0
Thomas Dull (Vice Chairman)	$15,360	$0	$0
Bruce Guernsey (Director)	$15,360	$0	$0
G Tom Taylor (Director)	$15,360	$0	$0
Danny Lawson (Director)	$14,510	$0	$0
Mark Starkey (Director)	$13,560	$0	$0

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990

Filed on Oct. 9, 2023

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2021

Revenue

$60,230,638

Expenses

$54,511,483

Net Income

$5,719,155

Net Assets

$57,077,233

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$58,154,786	96.6%
Investment Income	$25,328	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$10,609
Net Inventory Sales	$1,232	0.0%
Other Revenue	$2,059,901	3.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,200,144	2.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,360,128	2.5%

Assets/Debt
Total Assets	$132,784,446
Total Liabilities	$75,707,213
Net Assets	$57,077,233

Club or Co-Op Income
Income From Members	$58,154,786
Income From Other Sources	$2,075,852

Reported conflict of interest transactions

Compensation

Key Employees and Officers	Compensation	Related	Other
William Conley (Ceo/President)	$289,884	$0	$182,815
Jeffrey Dickerson (Vp Of Operations)	$148,996	$0	$84,622
Jeanette Johnson (Cfo/Vp Of Corporate Services)	$147,321	$0	$70,291
Pam Warmoth (Executive Assistant & Hr Coordinator)	$119,001	$0	$99,099
Robert Hawkins (Line Superintendent)	$115,587	$0	$64,437
Benjamin Duke (Accounting Supervisor)	$113,557	$0	$65,675
Charles Leavitt (System Engineer)	$110,438	$0	$60,934
Noel Kendall (Chairman)	$21,360	$0	$0
Thomas Dull (Vice Chairman)	$19,560	$0	$0
Mark Gruninger (Secretary/Treasurer)	$19,560	$0	$0
Jon Stevens (Director)	$18,360	$0	$0
G Tom Taylor (Director)	$16,990	$0	$0
Danny Lawson (Director)	$16,280	$0	$0
Bruce Guernsey (Director)	$14,760	$0	$0
Alan Cragun (Director)	$14,330	$0	$0
Mark Starkey (Director)	$14,160	$0	$0

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990

Filed on May 4, 2022

Primary tax return for a nonprofit’s activities, finances, and governance

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2019

Revenue

$52,690,942

Expenses

$48,686,085

Net Income

$4,004,857

Net Assets

$50,465,329

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$51,106,226	97.0%
Investment Income	$19,132	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$82,030
Net Inventory Sales	-$2,453
Other Revenue	$1,650,067	3.1%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,198,421	2.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,284,385	2.6%

Assets/Debt
Total Assets	$106,039,622
Total Liabilities	$55,574,293
Net Assets	$50,465,329

Club or Co-Op Income
Income From Members	$51,106,226
Income From Other Sources	$1,584,716

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2018

Revenue

$49,312,854

Expenses

$45,855,858

Net Income

$3,456,996

Net Assets

$46,483,178

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$47,914,423	97.2%
Investment Income	$19,522	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$27,686	0.1%
Net Inventory Sales	$2,276	0.0%
Other Revenue	$1,348,947	2.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$1,053,668	2.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$1,453,721	3.2%

Assets/Debt
Total Assets	$92,458,766
Total Liabilities	$45,975,588
Net Assets	$46,483,178

Club or Co-Op Income
Income From Members	$47,914,423
Income From Other Sources	$1,398,431

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2017

Revenue

$44,422,698

Expenses

$41,098,702

Net Income

$3,323,996

Net Assets

$43,801,967

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$42,974,736	96.7%
Investment Income	$170,361	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$23,080	0.1%
Net Inventory Sales	$1,827	0.0%
Other Revenue	$1,252,694	2.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$933,308	2.3%
Professional Fundraising Fees	$0
Other Salaries and Wages	$491,262	1.2%

Assets/Debt
Total Assets	$83,526,855
Total Liabilities	$39,724,888
Net Assets	$43,801,967

Club or Co-Op Income
Income From Members	$42,974,736
Income From Other Sources	$1,447,962

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2016

Revenue

$44,330,786

Expenses

$40,353,810

Net Income

$3,976,976

Net Assets

$41,493,386

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$43,131,946	97.3%
Investment Income	$161,917	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$5,186	0.0%
Net Inventory Sales	$7,563	0.0%
Other Revenue	$1,024,174	2.3%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$777,891	1.9%
Professional Fundraising Fees	$0
Other Salaries and Wages	$552,753	1.4%

Assets/Debt
Total Assets	$73,249,832
Total Liabilities	$31,756,446
Net Assets	$41,493,386

Club or Co-Op Income
Income From Members	$43,131,946
Income From Other Sources	$1,238,713

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2015

Revenue

$43,012,557

Expenses

$39,295,818

Net Income

$3,716,739

Net Assets

$37,404,404

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$41,898,306	97.4%
Investment Income	$170,914	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$1,182
Net Inventory Sales	-$1,396
Other Revenue	$945,915	2.2%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$712,083	1.8%
Professional Fundraising Fees	$0
Other Salaries and Wages	$477,244	1.2%

Assets/Debt
Total Assets	$68,698,583
Total Liabilities	$31,294,179
Net Assets	$37,404,404

Club or Co-Op Income
Income From Members	$41,898,306
Income From Other Sources	$1,169,417

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

PDF (2 of 2)

Fiscal Year Ending Dec.
2014

Revenue

$43,040,035

Expenses

$38,118,329

Net Income

$4,921,706

Net Assets

$33,687,742

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$41,829,861	97.2%
Investment Income	$174,314	0.4%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$13,136	0.0%
Net Inventory Sales	-$4,052
Other Revenue	$1,026,776	2.4%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$605,975	1.6%
Professional Fundraising Fees	$0
Other Salaries and Wages	$481,955	1.3%

Assets/Debt
Total Assets	$64,005,110
Total Liabilities	$30,317,368
Net Assets	$33,687,742

Club or Co-Op Income
Income From Members	$41,829,861
Income From Other Sources	$1,210,174

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2013

Revenue

$40,113,499

Expenses

$36,558,982

Net Income

$3,554,517

Net Assets

$30,964,854

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$38,981,239	97.2%
Investment Income	$19,735	0.0%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$13,126
Net Inventory Sales	$8	0.0%
Other Revenue	$1,125,643	2.8%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$794,321	2.2%
Professional Fundraising Fees	$0
Other Salaries and Wages	$394,442	1.1%

Assets/Debt
Total Assets	$60,016,182
Total Liabilities	$29,051,328
Net Assets	$30,964,854

Club or Co-Op Income
Income From Members	$38,982,269
Income From Other Sources	$1,131,230

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2012

Revenue

$37,438,839

Expenses

$32,127,019

Net Income

$5,311,820

Net Assets

$27,415,133

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$36,375,471	97.2%
Investment Income	$18,745	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$16,396	0.0%
Net Inventory Sales	-$732
Other Revenue	$1,028,959	2.7%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$987,784	3.1%
Professional Fundraising Fees	$0
Other Salaries and Wages	$674,563	2.1%

Assets/Debt
Total Assets	$57,773,190
Total Liabilities	$30,358,057
Net Assets	$27,415,133

Club or Co-Op Income
Income From Members	$36,375,471
Income From Other Sources	$1,063,368

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2011

Revenue

$34,434,047

Expenses

$33,503,944

Net Income

$930,103

Net Assets

$21,872,584

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$33,530,382	97.4%
Investment Income	$21,926	0.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$17,938	0.1%
Net Inventory Sales	-$5,921
Other Revenue	$869,722	2.5%

Notable Expenses		Percent of Total Expenses
Executive Compensation	$507,134	1.5%
Professional Fundraising Fees	$0
Other Salaries and Wages	$577,046	1.7%

Assets/Debt
Total Assets	$51,657,810
Total Liabilities	$29,785,226
Net Assets	$21,872,584

Club or Co-Op Income
Income From Members	$33,530,382
Income From Other Sources	$903,665

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2010

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2009

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2008

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2007

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2006

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2005

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

Fiscal Year Ending Dec.
2004

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

990

Primary tax return for a nonprofit’s activities, finances, and governance

PDF

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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Raw filing data. Includes EINs and summary financials as structured data.
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Form 990 documents. Prior to 2017, these documents were obtained and processed by Public.Resource.org and ProPublica. Bulk PDF downloads since 2017 are available from the IRS.
Form 990 documents as XML files. Includes complete filing data (financial details, names of officers, tax schedules, etc.) in machine-readable format. Only available for electronically filed documents. Electronic data released prior to October 2021 is also available through Amazon Web Services.
Audits. PDFs of single or program-specific audits for nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year. Available for fiscal year 2015 and later.

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Updated October 30, 2024

Boone County Rural Electric Membership Corp

Organization summary

Type of Nonprofit

Details

Summary charts: organization finances over time

Revenue $63.1M (2022)

Expenses $58.6M (2022)

Total Assets $160M (2022)

Total Liabilities $98.2M (2022)

Tax Filings by Year

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Other

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2018

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2017

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2016

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2015

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2014

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2013

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2012

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2011

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Dec. 2010

No Extracted Financial Data

Document Links

990

Fiscal Year Ending Dec. 2009

No Extracted Financial Data

Document Links

990

Fiscal Year Ending Dec. 2008

No Extracted Financial Data

Document Links

Revenue

$63.1M (2022)

Expenses

$58.6M (2022)

Total Assets

$160M (2022)

Total Liabilities

$98.2M (2022)

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Dec.
2018

Fiscal Year Ending Dec.
2017

Fiscal Year Ending Dec.
2016

Fiscal Year Ending Dec.
2015

Fiscal Year Ending Dec.
2014

Fiscal Year Ending Dec.
2013

Fiscal Year Ending Dec.
2012

Fiscal Year Ending Dec.
2011

Fiscal Year Ending Dec.
2010

Fiscal Year Ending Dec.
2009

Fiscal Year Ending Dec.
2008

Fiscal Year Ending Dec.
2007

Fiscal Year Ending Dec.
2006

Fiscal Year Ending Dec.
2005

Fiscal Year Ending Dec.
2004