National Rural Electric Cooperative

Arlington, VA
Tax-exempt since Feb. 1980
EIN: 56-6208927

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Type of Nonprofit

Designated as a 501(c)(9) Voluntary employees' beneficiary associations, which provide payment of life, sickness, accident or other benefits to members.

Donations to this organization are not tax deductible.

Revenue

$726M (2022)

Expenses

$716M (2022)

Total Assets

$695M (2022)

Total Liabilities

$171M (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

Revenue

$725,995,934

Expenses

$716,314,025

Net Income

$9,681,909

Net Assets

$523,483,868

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$750,151,442	> 100%
Investment Income	$19,299,326	2.7%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	-$43,454,834
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$70,706	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$694,733,318
Total Liabilities	$171,249,450
Net Assets	$523,483,868

Compensation

Key Employees and Officers	Compensation	Related	Other
State Street Corporation (Institutional Trustee)	$70,706	$0	$0
Peter Baxter (Senior Vice President)	$0	$1,075,400	$134,467
Tim Smith (Member)	$0	$328,719	$161,711
Steven W Walter (Chairman)	$0	$285,452	$191,273
Mel Coleman (Member)	$0	$438,880	$32,575
Bryan Case (Vice Chairman)	$0	$288,392	$166,361
David Spradlin (Member)	$0	$260,692	$146,143
Ingrid Kessler (Member)	$0	$26,475	$20,500
Lynn Jacobson (Member)	$0	$23,607	$20,500
Hunter Emory (Member)	$0	$42,500	$0
Reuben Ritthaler (Member)	$0	$4,000	$0

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990

Filed on Nov. 16, 2023

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

View Filing

Schedules ▼

PDF XML

Fiscal Year Ending Dec.
2021

Revenue

$725,806,986

Expenses

$719,852,096

Net Income

$5,954,890

Net Assets

$580,844,037

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$707,422,114	97.5%
Investment Income	$16,647,305	2.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$1,737,567	0.2%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$73,081	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$760,805,496
Total Liabilities	$179,961,459
Net Assets	$580,844,037

Compensation

Key Employees and Officers	Compensation	Related	Other
State Street Corporation (Institutional Trustee)	$73,081	$0	$0
Peter Baxter (Senior Vice President)	$0	$1,977,832	$350,373
Mel Coleman (Member)	$0	$406,946	$42,724
Tim Smith (Member)	$0	$303,868	$138,235
Steven W Walter (Chairman)	$0	$273,628	$182,684
David Spradlin (Member)	$0	$243,925	$134,865
Bryan Case (Vice Chairman)	$0	$252,567	$97,718
Ingrid Kessler (Member)	$0	$29,350	$19,500
Lynn Jacobson (Member)	$0	$24,516	$15,750
Reuben Ritthaler (Member)	$0	$27,600	$0
Phil Carson (Member)	$0	$27,250	$0

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990

Filed on Nov. 14, 2022

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2020

Revenue

$751,839,593

Expenses

$673,295,810

Net Income

$78,543,783

Net Assets

$572,821,540

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$714,194,612	95.0%
Investment Income	$16,401,301	2.2%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$21,243,680	2.8%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$68,499	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$742,011,711
Total Liabilities	$169,190,171
Net Assets	$572,821,540

Compensation

Key Employees and Officers	Compensation	Related	Other
State Street Corporation (Institutional Trustee)	$68,499	$0	$0
Peter Baxter (Senior Vice President)	$0	$885,930	$243,232
Tim Smith (Member)	$0	$316,218	$430,086
Bryan Case (Vice Chairman)	$0	$279,618	$178,918
Mel Coleman (Member)	$0	$408,482	$21,778
Steven W Walter (Chairman)	$0	$233,927	$134,469
David Spradlin (Member)	$0	$232,500	$105,722
Lynn Jacobson (Member)	$0	$31,216	$11,500
Phil Carson (Member)	$0	$35,700	$0
Ingrid Kessler (Member)	$0	$13,750	$9,000
Reuben Ritthaler (Member)	$0	$28,230	$0

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990

Filed on Nov. 14, 2022

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

View Filing

Schedules ▼

XML

Fiscal Year Ending Dec.
2019

Revenue

$722,563,810

Expenses

$676,525,480

Net Income

$46,038,330

Net Assets

$468,581,181

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$686,177,051	95.0%
Investment Income	$16,525,982	2.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$19,860,777	2.7%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$67,903	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$644,299,646
Total Liabilities	$175,718,465
Net Assets	$468,581,181

990

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

PDF

PDF (2 of 2)

Fiscal Year Ending Sept.
2019

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.
2018

Revenue

$675,312,632

Expenses

$648,435,993

Net Income

$26,876,639

Net Assets

$399,533,231

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$659,032,429	97.6%
Investment Income	$15,318,526	2.3%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$961,677	0.1%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$125,188	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$574,077,579
Total Liabilities	$174,544,348
Net Assets	$399,533,231

990

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

PDF

Fiscal Year Ending Dec.
2017

Revenue

$647,613,115

Expenses

$625,250,480

Net Income

$22,362,635

Net Assets

$385,666,226

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$629,937,953	97.3%
Investment Income	$13,874,659	2.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$3,800,503	0.6%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$132,638	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$575,660,639
Total Liabilities	$189,994,413
Net Assets	$385,666,226

990

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

PDF

Fiscal Year Ending Dec.
2016

Revenue

$606,417,143

Expenses

$584,136,826

Net Income

$22,280,317

Net Assets

$347,263,637

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$592,302,889	97.7%
Investment Income	$192,899	0.0%
Bond Proceeds	$11,048,070	1.8%
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$2,873,285	0.5%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$99,637	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$530,441,098
Total Liabilities	$183,177,461
Net Assets	$347,263,637

990

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

PDF

Fiscal Year Ending Dec.
2015

Revenue

$577,281,491

Expenses

$552,693,695

Net Income

$24,587,796

Net Assets

$325,493,164

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$563,852,479	97.7%
Investment Income	$0
Bond Proceeds	$9,247,045	1.6%
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$4,181,967	0.7%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$104,363	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$503,716,088
Total Liabilities	$178,222,924
Net Assets	$325,493,164

990

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

PDF

Fiscal Year Ending Dec.
2014

Revenue

$593,787,190

Expenses

$550,060,287

Net Income

$43,726,903

Net Assets

$309,056,338

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$582,904,143	98.2%
Investment Income	$0
Bond Proceeds	$8,666,504	1.5%
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$2,216,543	0.4%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$134,514	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$481,431,964
Total Liabilities	$172,375,626
Net Assets	$309,056,338

990

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

PDF

Fiscal Year Ending Dec.
2013

Revenue

$588,037,438

Expenses

$557,817,739

Net Income

$30,219,699

Net Assets

$260,907,581

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$574,594,327	97.7%
Investment Income	$0
Bond Proceeds	$9,721,974	1.7%
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$3,721,137	0.6%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$255,953	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$431,993,980
Total Liabilities	$171,086,399
Net Assets	$260,907,581

990

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

PDF

Fiscal Year Ending Dec.
2012

Revenue

$614,951,238

Expenses

$597,892,778

Net Income

$17,058,460

Net Assets

$233,436,666

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$598,292,998	97.3%
Investment Income	$0
Bond Proceeds	$11,822,560	1.9%
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$4,835,680	0.8%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$39,770	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$427,451,237
Total Liabilities	$194,014,571
Net Assets	$233,436,666

990

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

PDF

Fiscal Year Ending Dec.
2011

Revenue

$611,369,685

Expenses

$600,790,506

Net Income

$10,579,179

Net Assets

$211,810,124

Notable Sources of Revenue		Percent of Total Revenue
Contributions	$0
Program Services	$591,642,791	96.8%
Investment Income	$12,598,164	2.1%
Bond Proceeds	$0
Royalties	$0
Rental Property Income	$0
Net Fundraising	$0
Sales of Assets	$7,128,730	1.2%
Net Inventory Sales	$0
Other Revenue	$0

Notable Expenses		Percent of Total Expenses
Executive Compensation	$46,178	0.0%
Professional Fundraising Fees	$0
Other Salaries and Wages	$0

Assets/Debt
Total Assets	$400,399,876
Total Liabilities	$188,589,752
Net Assets	$211,810,124

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

PDF (2 of 2)

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.
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.

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 »

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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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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.

Updated October 30, 2024

National Rural Electric Cooperative

Organization summary

Type of Nonprofit

Summary charts: organization finances over time

Revenue $726M (2022)

Expenses $716M (2022)

Total Assets $695M (2022)

Total Liabilities $171M (2022)

Tax Filings by Year

Fiscal Year Ending Dec. 2022

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2021

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2020

Extracted Financial Data

Extracted Financial Data from Form 990

Compensation

Document Links

990

Fiscal Year Ending Dec. 2019

Extracted Financial Data

Extracted Financial Data from Form 990

Document Links

990

Fiscal Year Ending Sept. 2019

No Extracted Financial Data

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

Revenue

$726M (2022)

Expenses

$716M (2022)

Total Assets

$695M (2022)

Total Liabilities

$171M (2022)

Fiscal Year Ending Dec.
2022

Fiscal Year Ending Dec.
2021

Fiscal Year Ending Dec.
2020

Fiscal Year Ending Dec.
2019

Fiscal Year Ending Sept.
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.
2005

Fiscal Year Ending Dec.
2004