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Nonprofit · EIN 35-0188040

BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP

Tax-exempt · LEBANON, IN 46052

Financials

$69.1M$59M2023$76.5M$63.8M2024
Revenue Expenses · by fiscal year end
Financials of BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$76,545,941$63,759,730$12,786,211$176,258,272$88,453,292$87,804,980
December 31, 2023990$69,061,714$58,966,356$10,095,358$164,434,988$89,261,499$75,173,489
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$73,491,928
Investment income
$580,303
Net gain from sales of assets
$5,787
Net income from sales of inventory
$430
Other revenue
$2,473,710

Expenses

Grants and similar amounts paid
$0
Compensation of officers, directors and key employees
$926,436
Other salaries and wages
$3,106,498
Salaries, compensation and benefits (total)
$4,032,934
Professional fundraising fees
$0
Legal fees
$94,808
Accounting fees
$17,365
Occupancy
$328,000
Depreciation
$5,468,037
Program services (functional)
$63,647,557
Management and general (functional)
$112,173

Balance sheet and other

Total assets, start of year
$164,434,988
Total assets, end of year
$176,258,272
Total liabilities, end of year
$88,453,292
Net assets, end of year
$87,804,980
Land, buildings and equipment
$125,690,949
Gross receipts
$76,746,440
Employees
57
Volunteers
0
Year formed
1936
State of legal domicile
IN

From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.

Officers, directors and key employees

As listed on the 990 for the year ended December 31, 2024, highest compensation first.

NameTitleHours / weekCompensationOther / benefits
WILLIAM CONLEYCEO/PRESIDENT
Officer
40$351,406$161,013
JEFFERY DICKERSONVP OF OPERATIONS
Highest-paid employee
40$176,216$114,627
ALLEN JONESVP OF ENGINEERING SERVICES
Highest-paid employee
40$174,693$94,199
COREY WILLISVP OF CORPORATE DEVELOPMENT & TECHNOLOGY
Highest-paid employee
40$183,803$69,421
JEANETTE JOHNSONVP OF CORPORATE SERVICES/CFO
Officer
40$184,676$60,921
PAM WARMOTHEXECUTIVE ASSISTANT & HR COORDINATOR
Highest-paid employee
40$139,420$79,467
BENJAMIN DUKEACCOUNTING MANAGER
Highest-paid employee
40$143,618$45,167
GERALD LASLEYCONSTRUCTION & STAKING SERVICES COORDINATOR
Highest-paid employee
40$142,368$10,635
NOEL KENDALLCHAIRMAN
Trustee or director, Officer
8.58$23,160$0
THOMAS DULLVICE-CHAIRMAN
Trustee or director, Officer
3.84$21,560$0
JON STEVENSDIRECTOR
Trustee or director
6.04$21,360$0
ALAN CRAGUNDIRECTOR
Trustee or director
5.44$18,960$0
MARK GRUNINGERSECRETARY/TREASURER
Trustee or director, Officer
3.38$17,160$0
BRUCE GUERNSEYDIRECTOR
Trustee or director
4.13$17,160$0
MARK STARKEYDIRECTOR
Trustee or director
3.25$15,360$0
3 more people on this return
NameTitleHours / weekCompensation
DANNY LAWSONDIRECTOR
Trustee or director
1.67$15,110
BRIAN GOTTDIRECTOR
Trustee or director
4.49$13,670
G TOM TAYLORDIRECTOR
Trustee or director
1.59$4,920
990 for the year ended December 31, 2023: 17 people
NameTitleHours / weekCompensationOther / benefits
WILLIAM CONLEYCEO/PRESIDENT
Officer
40$323,390$174,283
JEFFREY DICKERSONVP OF OPERATIONS
Highest-paid employee
40$168,548$98,303
ALLEN JONESVP OF ENGINEERING SERVICES
Highest-paid employee
40$163,079$86,750
COREY WILLISVP OF CORPORATE DEVELOPMEN
Highest-paid employee
40$169,548$61,967
PAM WARMOTHEXECUTIVE ASSISTANT & HR COORDINATOR
Highest-paid employee
40$127,314$71,168
BENJAMIN DUKEACCOUNTING MANAGER
Officer
40$151,285$43,777
JEANETTE JOHNSONVP OF CORPORATE SERVICES/CFO
Officer
40$120,168$52,572
NICHOLAS SHEPHERDJOURNEYMAN LINEWORKER
Highest-paid employee
40$130,411$26,233
NOEL KENDALLCHAIRMAN
Trustee or director, Officer
9.19$25,360$0
THOMAS DULLVICE-CHAIRMAN
Trustee or director, Officer
4.06$22,160$0
MARK GRUNINGERSECRETARY/TREASURER
Trustee or director, Officer
3.03$20,160$0
BRUCE GUERNSEYDIRECTOR
Trustee or director
4.19$18,560$0
JON STEVENSDIRECTOR
Trustee or director
3.64$18,360$0
ALAN CRAGUNDIRECTOR
Trustee or director
5.64$17,160$0
DANNY LAWSONDIRECTOR
Trustee or director, Officer
2.45$16,910$0
G TOM TAYLORDIRECTOR
Trustee or director
1.92$14,160$0
MARK STARKEYDIRECTOR
Trustee or director
1.61$13,560$0

Address and contacts

Address (IRS master file)
PO BOX 563, LEBANON, IN 46052-0563
Principal officer (990 for 2024)
JEANETTE JOHNSON, PO BOX 563, LEBANON IN, IN 46052
Signed the 990
JEANETTE JOHNSON, VP OF CORPORATE SERVICES/CFO
Phone
(765) 482-2390
Return prepared by
LWG CPAS & ADVISORS

Mission

PROVIDING OUR MEMBERS ENERGY-RELATED SERVICES IN A SAFE, DEPENDABLE, AND REASONABLY PRICED MANNER.

990 for the year ended December 31, 2024

Program accomplishments

  • DISTRIBUTION OF ELECTRICITY
    Expenses $63,647,557 · revenue $73,491,928

What it must file and when

IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.

Tax yearYear endedDueIRS public records
2025December 31, 2025May 15, 2026Not on file
2024December 31, 2024May 15, 2025990 on file
2023December 31, 2023May 15, 2024990 on file

IRS record

EIN
35-0188040
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1938
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$176,258,272
Income (IRS master file)
$76,746,440

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$76,545,941$63,759,730$176,258,272XML
990December 2023$69,061,714$58,966,356$164,434,988XML
990December 2022$63,135,395$58,558,112$159,678,788IRS
990December 2021–––IRS

990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 35-0188040).

Questions about BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP

What is the EIN of BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP?
The employer identification number (EIN) of BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP is 35-0188040.
Is BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1938.
Are donations to BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP file?
Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
When is the next return of BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP due?
The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
When did BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP last file with the IRS?
The latest return in the IRS public files is the 990 for the year ended December 2024.
Who is the principal officer of BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP?
The 990 for the year ended December 31, 2024 names JEANETTE JOHNSON.
Who are the officers and directors of BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP?
The 990 for the year ended December 31, 2024 lists 18 people; 18 received compensation from the organization, the highest $351,406 (WILLIAM CONLEY, CEO/PRESIDENT).
How much revenue does BOONE COUNTY RURAL ELECTRIC MEMBERSHIP CORP have?
On its 990 for the year ended December 31, 2024 it reported revenue of $76,545,941, expenses of $63,759,730 and total assets of $176,258,272 at year end.

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