2025-10-30T08:37:32-05:00 2024-12-31 363163136 LWG CPAS & ADVISORS 1776 N MERIDIAN ST STE 500 INDIANAPOLIS IN 46202 990 2024-01-01 350376478 HENDRICKS COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION HEND 3177455473 PO BOX 309 DANVILLE IN 46122 GREGORY A TERNET CEO 3177455473 2025-10-30 1 1 EARL L RIDLEN P00987829 3176344747 2024 2025-03-06 01:10:19Z HENDRICKS POWER COOPERATIVE GREGORY A TERNET PO BOX 309 DANVILLE IN 46122 116029554 0 X WWW.HENDRICKSPOWER.COM X 1936 IN DISTRIBUTION OF ELECTRICITY TO APPROXIMATELY 38,000 CUSTOMERS ON A COOPERATIVE BASIS. 9 9 85 0 78649 55896 0 0 104970766 110514440 529867 394525 2823016 4988842 108323649 115897807 0 0 9199096 10214442 7679742 8479241 0 0 0 91444811 97204124 108323649 115897807 0 0 246422972 264422781 123442962 131567710 122980010 132855071 HENDRICKS POWER COOPERATIVE EXISTS TO DISTRIBUTE HIGH QUALITY, RELIABLE, AND COMPETITIVELY VALUED ELECTRIC ENERGY TO ITS MEMBER OWNERS IN AN ENVIRONMENTALLY RESPONSIBLE MANNER. 0 0 115836597 115192672 DISTRIBUTION OF ELECTRICITY TO MEMBERS. 115836597 0 0 1 0 0 0 0 0 0 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 57 0 1 85 1 1 1 0 0 0 0 0 0 0 0 110929254 4952650 0 0 0 X 9 9 1 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 1 1 IN X MARGARET HART 3177455473 86 N COUNTY RD 500 E AVON IN 46123 MATTHEW J HESSION DIRECTOR 1.18 X 25561 0 0 SUSAN WEBB DIRECTOR 2.58 X 20319 0 0 R JEFFREY FLEECE SECRETARY (THRU 07/24) 0.54 X X 8357 0 0 WILLIAM A LYNCH PRESIDENT 1.29 X X 25415 0 0 HAL TRUAX VICE PRESIDENT 1.87 X 26753 0 0 DAVID THOMAS DIRECTOR 2.43 X 20404 0 0 KEITH S COOPER TREASURER 1.22 X 16783 0 0 STANLEY RYLAND DIRECTOR (THRU 07/24) 0.47 X 8059 0 0 CHRISTOPHER MANN SECRETARY (START 07/24) 2.00 X X 18899 0 0 BRENT SHAY DIRECTOR 1.66 X 18601 0 0 KEVIN MILLER DIRECTOR 0.89 X 8742 0 0 GREGORY A TERNET CEO 45.00 X 414956 0 262809 DAVID R OLMSTEAD DIRECTOR OF FINANCE & MEMB 45.00 X 180462 0 78935 MICHAEL L GOOD DIRECTOR OF ENGINEERING 45.00 X 180165 0 65944 AMY C WATSON DIRECTOR OF TECHNOLOGY 45.00 X 183323 0 42865 JOSEPH A PARSONS DIRECTOR OF OPERATIONS & B 45.00 X 182862 0 51903 DEBRA J LENARDSON DIRECTOR OF HUMAN RESOURCE 40.00 X 182190 0 43847 1521851 0 546303 40 0 1 0 J&J ELECTRIC PO BOX 357 KOKOMO IN 46903 EQUIPMENT INSTALLATION 3173962 ACLARA TECHNOLOGIES LLC PO BOX 207514 DALLAS TX 75320 HARDWARE/SOFTWARE 1488400 HELEBO TRENCHING INC 689 WHITE ASH TRAIL MOORESVILLE IN 46158 EXCAVATION WORK 1359125 UTILITY MANAGEMENT & CONSTRUCTION LLC 2038 W CR 900 N ROACHDALE IN 46172 EXCAVATION WORK 1350255 WILLIAMS TREE SERVICE 310 W BORDER STREET PARAGON IN 46166 TREE TRIMMING 1229780 12 ELECTRIC REVENUE 221000 110514440 110514440 110514440 211672 211672 414814 0 414814 414814 414814 314600 131747 182853 182853 182853 PATRONAGE CAPITAL 221000 4306211 4306211 MISCELLANEOUS INCOME 221000 189168 189168 RENTAL INCOME 531190 57532 57532 21117 21117 4574028 115897807 115192672 78649 626486 X 10214442 10214442 848281 848281 5426324 5426324 655464 655464 1118456 1118456 430716 430716 42845 42845 18365 18365 1275597 1275597 3962207 3962207 8610369 8610369 PURCHASED POWER 77288591 77288591 GENERAL & ADMINISTRATIV 2933611 2933611 MAINTENANCE EXPENSE 2041024 2041024 CONSUMER ACCOUNTING EXP 817338 817338 214177 214177 115897807 115836597 61210 0 X 312670 598093 2599715 15022 12856221 12799096 9692310 9231610 5550865 5655817 346854 772809 253556878 56871312 177902807 196685566 1732077 35429453 38664768 246422972 264422781 14803987 15429294 441742 568669 103790834 111267240 4406399 4302507 123442962 131567710 X 0 0 775200 795350 122204810 132059721 122980010 132855071 246422972 264422781 X 0 9875061 X X 0 1 X 1 0 INDIANA FORE 8888 KEYSTONE CROSSING STE 1600 INDIANAPOLIS IN 46240 351998087 5000 HENDRICKS COUNTY GOP 47 W MARION ST DANVILLE IN 46122 750 FRIENDS OF DAVID HALL 11454 W US HWY 50 NORMAN IN 47264 500 GREG STEUERWALD FOR STATE REPRESENTATIVE PO BOX 503 DANVILLE IN 46122 740 BRETT CLARK FOR STATE SENATE 996 S COUNTY RD 400 E AVON IN 46123 500 1410799 1410799 12890583 6390391 6500192 239255496 50480921 188774575 196685566 PATRONAGE CAPITAL - WVPA 34271764 C PATRONAGE CAPITAL AND INVESTMENTS 1309766 C SUBSIDIARY HPC SERVICES, LLC -11760 C SUBSIDIARY MARK-IT-RIGHT, LLC 1478900 C SUBSIDIARY HP CONNECT, LLC -1683702 C COBANK 2136748 C CFC 1163052 C 38664768 CONSUMER ADVANCES FOR CONSTRUCTION 2411700 ACCUMULATIVE PROVISION FOR MEDICAL LEAVE 1612427 OBLIGATIONS UNDER CAPITAL LEASES 278380 4302507 X 115897807 0 115897807 0 115897807 105683365 0 105683365 10214442 10214442 115897807 PART X, LINE 2: THE COOPERATIVE FOLLOWS "ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES." THE GENERALLY ACCEPTED ACCOUNTING PRINCIPLE PROVIDES DETAILED GUIDANCE FOR THE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT AND DISCLOSURE OF UNCERTAIN TAX POSITIONS RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS. THE ACCOUNTING PRINCIPLE REQUIRES AN ENTITY TO RECOGNIZE THE FINANCIAL STATEMENT IMPACT OF A TAX POSITION WHEN IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION. THE ADOPTION OF THIS ACCOUNTING PRINCIPLE DOES NOT HAVE A MATERIAL EFFECT ON ITS FINANCIAL POSITION, RESULT OF OPERATIONS OR CASH FLOWS AS THE COOPERATIVE DOES NOT BELIEVE THEY ARE TAKING ANY UNCERTAIN TAX POSITIONS. PART XII, LINE 4B - OTHER ADJUSTMENTS: BENEFITS PAID TO OR FOR MEMBERS (SEE 990 CORE FORM - PART IX, LINE 4) 10,214,442. 1 X X X X 0 0 0 GREGORY A TERNET CEO 369637 0 600 0 44719 0 233431 0 29378 0 677765 0 0 0 DAVID R OLMSTEAD DIRECTOR OF FINANCE & MEMB 168389 0 600 0 11473 0 50713 0 28222 0 259397 0 0 0 MICHAEL L GOOD DIRECTOR OF ENGINEERING 170566 0 600 0 8999 0 42696 0 23248 0 246109 0 0 0 JOSEPH A PARSONS DIRECTOR OF OPERATIONS & B 172827 0 5256 0 4779 0 23646 0 28257 0 234765 0 0 0 AMY C WATSON DIRECTOR OF TECHNOLOGY 170534 0 5256 0 7533 0 40876 0 1989 0 226188 0 0 0 DEBRA J LENARDSON DIRECTOR OF HUMAN RESOURCE 170125 0 5256 0 6809 0 29730 0 14117 0 226037 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 R. JEFFREY FLEECE (FLEECE INSURANCE) SELLS INSURANCE TO MATT HESSION, KEITH COOPER, WILLIAM LYNCH, HAL TRUAX, DAVID THOMAS, AND GREG TERNET. ONE FAMILY RELATIONSHIP EXISTS WHEREBY MATT HESSION AND WILLIAM LYNCH ARE SECOND COUSINS. FORM 990, PART VI, SECTION A, LINE 4 CHANGES TO SCHEDULE O GOVERNING BODY & MANAGEMENT. IN 2024 WE CHANGED FROM 10 TO 7 AREAS AREA 1 - GUILFORD TOWNSHIP IN HENDRICKS COUNTY AREA 2 - CENTER, MARION, UNION, AND EEL RIVER TOWNSHIPS IN HENDRICKS COUNTY AREA 3 - LINCOLN TOWNSHIP IN HENDRICKS COUNTY AREA 4 - MIDDLE AND BROWN TOWNSHIP IN BOONE COUNTY AREA 5 - CLAY, FRANKLIN AND LIBERTY TOWNSHIP IN HENDRICKS COUNTY AND ALL MORGAN COUNTY AREA 6 - PUTNAM COUNTY AREA 7 - WASHINGTON TOWNSHIP HENDRICKS COUTY AND TWO AT LARGE BOARD MEMBERS WE WENT FROM 10 BOARD MEMBERS TO 9 IN SUMMARY, REDISTRICTED OUR TERRITORY FROM 10 AREAS TO 7. CHANGED OUR BOARD FROM 10 MEMBERS TO 9. FORM 990, PART VI, SECTION A, LINE 6 HENDRICKS COUNTY REMC IS A COOPERATIVE OWNED BY APPROXIMATELY 38,000 MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A ANY PERSON, FIRM, ASSOCIATION, CORPORATION, PARTNERSHIP, LIMITED LIABILITY COMPANY, OR BODY POLITIC OR SUBDIVISION THEREOF WILL BECOME A MEMBER OF HENDRICKS COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION UPON RECEIPT OF ELECTRIC SERVICE. THE MEMBERS ELECT NINE (9) BOARD MEMBERS TO SERVE AS THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS OF THE GOVERNING BODY ARE SUBJECT TO MEMBER APPROVAL. AN ANNUAL MEETING OF THE MEMBERS IS HELD WITH AT LEAST ONE FIFTIETH (1/50) OF THE TOTAL MEMBERS VOTING. FORM 990, PART VI, SECTION B, LINE 11B AFTER REVIEWING THE 990, THE CEO SENDS AN ELECTRONIC COPY TO EACH BOARD MEMBER. AFTER IT IS REVIEWED BY THE BOARD AND CEO, IT IS DISCUSSED AT THE NEXT BOARD MEETING AND THEN SIGNED BY THE CEO. FORM 990, PART VI, SECTION B, LINE 12C DIRECTORS ARE REQUIRED TO REPORT TO THE PRESIDENT OF THE BOARD IF THEY RECEIVE AN OFFER OR A GIFT IN CONSIDERATION OF COOPERATIVE BUSINESS WITH AN INDIVIDUAL OR COMPANY. THE PRESIDENT OF THE BOARD WILL THEN REPORT THE INCIDENT TO THE BOARD OF DIRECTORS AND THE CEO. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION OF THE CEO INCLUDED A REVIEW BY AN INDEPENDENT OUTSIDE PARTY USING COMPARABILITY DATA. THE BOARD CAME TO AN AGREEMENT WITH THE CEO ON AN ADEQUATE ANNUAL COMPENSATION PROGRAM. FORM 990, PART VI, SECTION C, LINE 19 ALL GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE ANNUAL FINANCIAL STATEMENTS ARE PUBLISHED ON THE WEBSITE OF THE COMPANY AT WWW.HENDRICKSPOWER.COM. THE CONFLICT OF INTEREST POLICIES ARE REVIEWED AND SIGNED ANNUALLY BY THE DIRECTORS AND CERTAIN EMPLOYEES. FORM 990, PART IX, LINE 24E ALL OTHER EXPENSES: PROGRAM SERVICE EXPENSES 214,177. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 214,177. FORM 990, PART XI, LINE 9: BENEFITS PAID TO OR FOR THE MEMBERS 10,214,442. RETIREMENT OF PATRONAGE CAPITAL -1,361,524. INCREASES IN MEMBERSHIPS 20,150. FORFEITURE OF UNCLAIMED PATRONAGE 1,001,991. ROUNDING 2. FORM 990, PART XII, LINE 2C: THERE WERE NO CHANGES MADE FROM PRIOR YEAR. FORM 990, PART IX, LINE 4 THE INSTRUCTIONS CLARIFY THAT PATRONAGE DIVIDENDS PAID BY SECTION 501(C)(12) ORGANIZATIONS TO THEIR MEMBERS SHOULD BE REPORTED ON LINE 4. ACCORDING TO THE BYLAWS ALL SUCH AMOUNTS CREDITED TO THE CAPITAL CREDIT ACCOUNT OF THE MEMBER SHALL HAVE THE SAME STATUS AS THOUGH THEY HAD BEEN PAID TO THE MEMBER IN CASH AS PURSUANT TO THE LEGAL OBLIGATION TO DO SO. FORM 990, PART X, LINE 4 THE LONG-TERM PORTION OF THE LOAN FOR HP CONNECT LLC WAS RECLASSED OUT OF ACCOUNTS RECEIVABLE DUE FROM HP CONNECT LLC TO DEFERRED DEBITS, LINE 15 OTHER ASSETS IN THE AMOUNT OF $9,231,610.01. HPC SERVICES LLC PO BOX 309 DANVILLE IN 46122 352124686 LINE LOCATES & FIBER IN HENDRICKS COUNTY REMC C 4337359 18068186 1.00000 1 0 0 0 1 0 1 0 0 0 0 0 1 1 0 0 0 1 0 0 HPC SERVICES LLC D -448070 ACTUAL HPC SERVICES LLC F 50000 ACTUAL HPC SERVICES LLC L 280272 ACTUAL HPC SERVICES LLC M 645792 ACTUAL HPC SERVICES LLC Q 69906 ACTUAL