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Hendricks County Rural Electric Membership Corporation

  • Danville, IN
  • Tax-exempt since Oct. 1937
  • EIN: 35-0376478

Organization summary

Type of Nonprofit

Designated as a Benevolent life insurance associations, irrigation companies, telephone companies, etc., which have a mutually beneficial nature.

Donations to this organization are not tax deductible.

Summary charts: organization finances over time

Revenue
$103M (2022)

Expenses
$103M (2022)

Total Assets
$235M (2022)

Total Liabilities
$119M (2022)

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

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$102,543,098
Expenses
$102,543,098
Net Income
$0
Net Assets
$115,933,525
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $99,620,077
97.1%
Investment Income $139,319
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $351,397
0.3%
Net Fundraising $0
Sales of Assets $41,875
0.0%
Net Inventory Sales $0
Other Revenue $2,390,430
2.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,885,322
1.8%
Professional Fundraising Fees $0
Other Salaries and Wages $3,924,851
3.8%
Assets/Debt
Total Assets $234,883,855
Total Liabilities $118,950,330
Net Assets $115,933,525
Club or Co-Op Income
Income From Members $99,620,077
Income From Other Sources $1,879,717
Compensation
Key Employees and Officers Compensation Related Other
Gregory A Ternet (Ceo) $387,090 $0 $217,726
Dana Cochran (Director Of Marketing) $168,375 $0 $46,533
David R Olmstead (Director Of Finance & Memb) $167,080 $0 $86,031
Amy C Watson (Director Of Technology) $166,184 $0 $40,020
Michael L Good (Director Of Engineering) $164,209 $0 $72,301
Debra J Lenardson (Director Of Human Resource) $163,449 $0 $42,499
William A Lynch (President) $22,654 $0 $0
R Jeffrey Fleece (Secretary) $22,193 $0 $0
Matthew J Hession (Director) $21,599 $0 $0
Hal Truax (Vice President) $20,531 $0 $0
Susan Webb (Director) $19,517 $0 $0
David Thomas (Director) $16,975 $0 $0
Christopher Mann (Director) $16,144 $0 $0
Stanley Ryland (Director) $14,467 $0 $0
Keith S Cooper (Treasurer) $14,229 $0 $0
Donald Stinson (Director) $8,961 $0 $0
Brent Shay (Director) $6,054 $0 $0
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Document Links

990
Filed on Sept. 29, 2023

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

View Filing
XML

Fiscal Year Ending Dec.
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$97,103,288
Expenses
$97,103,288
Net Income
$0
Net Assets
$113,382,015
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $92,468,334
95.2%
Investment Income $136,077
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $336,988
0.3%
Net Fundraising $0
Sales of Assets $108,576
0.1%
Net Inventory Sales $0
Other Revenue $4,053,313
4.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,783,497
1.8%
Professional Fundraising Fees $0
Other Salaries and Wages $3,767,298
3.9%
Assets/Debt
Total Assets $222,904,007
Total Liabilities $109,521,992
Net Assets $113,382,015
Club or Co-Op Income
Income From Members $92,468,334
Income From Other Sources $1,800,296
Compensation
Key Employees and Officers Compensation Related Other
Gregory A Ternet (Ceo) $319,975 $0 $213,193
David R Olmstead (Director Of Finance & Memb) $162,102 $0 $81,377
Michael L Good (Director Of Engineering) $157,874 $0 $87,014
Joseph A Parsons (Director Of Operations) $153,520 $0 $66,728
Debra J Lenardson (Director Of Human Resource) $151,222 $0 $38,280
Amy C Watson (Director Of Technology) $136,153 $0 $55,126
Matthew J Hession (Director) $23,305 $0 $0
Susan Webb (Director) $20,810 $0 $0
R Jeffrey Fleece (Secretary) $20,096 $0 $0
William A Lynch (President) $19,592 $0 $0
Hal Truax (Director) $19,589 $0 $0
David Thomas (Director) $15,067 $0 $0
Keith S Cooper (Director) $13,732 $0 $0
Donald Stinson (Director) $13,482 $0 $0
Stanley Ryland (Director) $13,216 $0 $0
Christopher Mann (Director) $6,255 $0 $0
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Document Links

990
Filed on Nov. 15, 2022

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

View Filing
XML

Fiscal Year Ending Dec.
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$91,499,155
Expenses
$91,499,155
Net Income
$0
Net Assets
$109,362,953
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $87,094,352
95.2%
Investment Income $168,757
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $323,282
0.4%
Net Fundraising $0
Sales of Assets $14,001
0.0%
Net Inventory Sales $0
Other Revenue $3,898,763
4.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,765,619
1.9%
Professional Fundraising Fees $0
Other Salaries and Wages $3,965,946
4.3%
Assets/Debt
Total Assets $191,509,706
Total Liabilities $82,146,753
Net Assets $109,362,953
Club or Co-Op Income
Income From Members $87,094,352
Income From Other Sources $2,282,221
Compensation
Key Employees and Officers Compensation Related Other
Gregory A Ternet (Ceo) $301,887 $0 $185,689
David R Olmstead (Director Of Finance & Member Services) $158,513 $0 $89,503
Michael L Good (Director Of Engineering) $153,332 $0 $131,786
Joseph A Parsons (Director Of Operations) $149,668 $0 $83,559
Debra J Lenardson (Director Of Human Resources) $145,007 $0 $17,698
Amy C Watson (Director Of Technology) $132,589 $0 $48,003
Matthew J Hession (Vice President) $22,405 $0 $0
Hal Truax (Director) $21,473 $0 $0
Susan Webb (Director) $19,563 $0 $0
R Jeffrey Fleece (Director) $19,187 $0 $0
William A Lynch (Treasurer) $17,766 $0 $0
Donald Stinson (President) $16,792 $0 $0
Stanley Ryland (Director) $13,552 $0 $0
Keith S Cooper (Director) $12,556 $0 $0
Larry Salsman (Secretary) $12,280 $0 $0
Marshall Hurst (Director) $7,155 $0 $0
David Thomas (Director) $5,659 $0 $0
+ View more people

Document Links

990
Filed on Oct. 26, 2021

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

View Filing
XML

Fiscal Year Ending Dec.
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$92,684,538
Expenses
$92,684,538
Net Income
$0
Net Assets
$105,712,997
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $88,226,192
95.2%
Investment Income $157,131
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $324,967
0.4%
Net Fundraising $0
Sales of Assets $410,160
0.4%
Net Inventory Sales $0
Other Revenue $3,566,088
3.8%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,635,210
1.8%
Professional Fundraising Fees $0
Other Salaries and Wages $4,276,271
4.6%
Assets/Debt
Total Assets $175,049,488
Total Liabilities $69,336,491
Net Assets $105,712,997
Club or Co-Op Income
Income From Members $88,226,192
Income From Other Sources $2,344,070

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$93,587,153
Expenses
$93,587,153
Net Income
$0
Net Assets
$102,094,402
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $89,129,171
95.2%
Investment Income $75,230
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $312,721
0.3%
Net Fundraising $0
Sales of Assets $49,451
0.1%
Net Inventory Sales $0
Other Revenue $4,020,580
4.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,568,491
1.7%
Professional Fundraising Fees $0
Other Salaries and Wages $3,986,753
4.3%
Assets/Debt
Total Assets $160,061,105
Total Liabilities $57,966,703
Net Assets $102,094,402
Club or Co-Op Income
Income From Members $89,129,171
Income From Other Sources $2,903,057

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$89,099,491
Expenses
$89,099,491
Net Income
$0
Net Assets
$99,255,514
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $85,024,764
95.4%
Investment Income $62,191
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $305,621
0.3%
Net Fundraising $0
Sales of Assets $15,950
0.0%
Net Inventory Sales $0
Other Revenue $3,690,965
4.1%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,480,282
1.7%
Professional Fundraising Fees $0
Other Salaries and Wages $3,939,545
4.4%
Assets/Debt
Total Assets $156,122,306
Total Liabilities $56,866,792
Net Assets $99,255,514
Club or Co-Op Income
Income From Members $85,024,764
Income From Other Sources $1,915,979

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$88,939,884
Expenses
$88,939,884
Net Income
$0
Net Assets
$94,226,294
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $85,651,808
96.3%
Investment Income $41,464
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $316,987
0.4%
Net Fundraising $0
Sales of Assets $80
0.0%
Net Inventory Sales $0
Other Revenue $2,929,545
3.3%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,171,281
1.3%
Professional Fundraising Fees $0
Other Salaries and Wages $3,653,223
4.1%
Assets/Debt
Total Assets $147,159,643
Total Liabilities $52,933,349
Net Assets $94,226,294
Club or Co-Op Income
Income From Members $85,651,808
Income From Other Sources $2,325,376

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$86,791,729
Expenses
$86,791,729
Net Income
$0
Net Assets
$91,155,162
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $83,638,427
96.4%
Investment Income $34,310
0.0%
Bond Proceeds $0
Royalties $0
Rental Property Income $273,983
0.3%
Net Fundraising $0
Sales of Assets $64,532
0.1%
Net Inventory Sales $0
Other Revenue $2,780,477
3.2%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,069,447
1.2%
Professional Fundraising Fees $0
Other Salaries and Wages $3,390,209
3.9%
Assets/Debt
Total Assets $140,170,062
Total Liabilities $49,014,900
Net Assets $91,155,162
Club or Co-Op Income
Income From Members $83,638,427
Income From Other Sources $2,341,254

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$86,346,355
Expenses
$86,346,355
Net Income
$0
Net Assets
$84,966,042
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $82,968,368
96.1%
Investment Income -$30,154
Bond Proceeds $0
Royalties $0
Rental Property Income $339,731
0.4%
Net Fundraising $0
Sales of Assets $39,307
0.0%
Net Inventory Sales $0
Other Revenue $3,029,103
3.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,317,427
1.5%
Professional Fundraising Fees $0
Other Salaries and Wages $3,170,631
3.7%
Assets/Debt
Total Assets $139,183,964
Total Liabilities $54,217,922
Net Assets $84,966,042
Club or Co-Op Income
Income From Members $82,968,368
Income From Other Sources $1,119,924

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$82,209,856
Expenses
$82,209,856
Net Income
$0
Net Assets
$79,869,472
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $79,021,861
96.1%
Investment Income $67,511
0.1%
Bond Proceeds $0
Royalties $0
Rental Property Income $285,751
0.3%
Net Fundraising $0
Sales of Assets $11,983
0.0%
Net Inventory Sales $0
Other Revenue $2,822,750
3.4%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,310,621
1.6%
Professional Fundraising Fees $0
Other Salaries and Wages $3,219,252
3.9%
Assets/Debt
Total Assets $135,625,964
Total Liabilities $55,756,492
Net Assets $79,869,472
Club or Co-Op Income
Income From Members $79,021,861
Income From Other Sources $1,189,552

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$78,058,932
Expenses
$78,058,932
Net Income
$0
Net Assets
$74,528,877
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $74,920,413
96.0%
Investment Income $151,114
0.2%
Bond Proceeds $0
Royalties $0
Rental Property Income $251,433
0.3%
Net Fundraising $0
Sales of Assets -$960
Net Inventory Sales $0
Other Revenue $2,736,932
3.5%
Notable Expenses Percent of Total Expenses
Executive Compensation $1,282,763
1.6%
Professional Fundraising Fees $0
Other Salaries and Wages $3,285,405
4.2%
Assets/Debt
Total Assets $127,827,432
Total Liabilities $53,298,555
Net Assets $74,528,877
Club or Co-Op Income
Income From Members $74,920,413
Income From Other Sources $1,236,825

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$73,515,638
Expenses
$75,787,772
Net Income
-$2,272,134
Net Assets
$70,131,482
Notable Sources of Revenue Percent of Total Revenue
Contributions $0
Program Services $73,003,910
99.3%
Investment Income $203,410
0.3%
Bond Proceeds $0
Royalties $0
Rental Property Income $293,068
0.4%
Net Fundraising $0
Sales of Assets $15,250
0.0%
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $1,028,612
1.4%
Professional Fundraising Fees $0
Other Salaries and Wages $3,539,151
4.7%
Assets/Debt
Total Assets $124,614,150
Total Liabilities $54,482,668
Net Assets $70,131,482
Club or Co-Op Income
Income From Members $73,003,910
Income From Other Sources $1,182,115

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2010

No Extracted Financial Data

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

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2009

No Extracted Financial Data

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

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2008

No Extracted Financial Data

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

Document Links

990

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

PDF

Fiscal Year Ending Dec.
2007

No Extracted Financial Data

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

Document Links

990

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

PDF
PDF (2 of 2)

Fiscal Year Ending Dec.
2006

No Extracted Financial Data

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

Document Links

990

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

PDF
PDF (2 of 2)

Fiscal Year Ending Dec.
2005

No Extracted Financial Data

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

Document Links

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.

Which Organizations Are Here?

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 »

Get the Data

For those interested in acquiring the original data from the source, here’s where our data comes from:

  • Raw filing data. Includes EINs and summary financials as structured data.
  • Exempt Organization profiles. Includes organization names, addresses, etc. You can merge this with the raw filing data using EIN numbers.
  • 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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Byline

By Andrea Suozzo, Alec Glassford and Ash Ngu, ProPublica, and Brandon Roberts, Special to ProPublica.
Design by Jeff Frankl. Additional development by Ken Schwencke, Mike Tigas, and Sisi Wei.

E-file viewer adapted from IRS e-File Viewer by Ben Getson. Code for scraping audit documents adapated from Govwiki.

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