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Nonprofit · EIN 35-0377085

HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

Also known as HENRY COUNTY REMC

Tax-exempt · NEW CASTLE, IN 47362

Financials

$30.7M$30.7M2023$32.6M$32.6M2024
Revenue Expenses · by fiscal year end
Financials of HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION by year, from its e-filed returns
Year endedFormRevenueExpensesNet incomeTotal assetsLiabilitiesNet assets
December 31, 2024990$32,627,865$32,627,865$0$71,672,252$33,228,174$38,444,078
December 31, 2023990$30,668,882$30,668,882$0$67,280,996$32,044,692$35,236,304
Financial details: 990 for the year ended December 31, 2024

Revenue

Contributions, gifts and grants
$0
Program service revenue
$31,751,843
Investment income
$43,529
Net rental income
$140,900
Net gain from sales of assets
$259
Other revenue
$832,493

Expenses

Grants and similar amounts paid
$0
Benefits paid to members
$3,698,734
Compensation of officers, directors and key employees
$1,329,580
Other salaries and wages
$1,388,083
Salaries, compensation and benefits (total)
$3,993,173
Professional fundraising fees
$0
Depreciation
$2,681,226

Balance sheet and other

Total assets, start of year
$67,280,996
Total assets, end of year
$71,672,252
Total liabilities, end of year
$33,228,174
Net assets, end of year
$38,444,078
Land, buildings and equipment
$53,845,745
Gross receipts
$32,628,606
Employees
37
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
MELISSA TRUECEO
Officer
51.03$222,068$78,029
ADAM WARWASCHIEF OPERATIONS OFFICER
Highest-paid employee
47.9$167,264$50,773
RICHARD BRYEREMPLOYEE
Highest-paid employee
48.69$144,701$64,257
CHAD HINESLEYEMPLOYEE
Highest-paid employee
50.18$132,789$46,846
WESLY JONESEMPLOYEE
Highest-paid employee
46.08$139,390$39,142
CODY WALKEREMPLOYEE
Highest-paid employee
46.24$132,039$36,675
JAMEY MARCUMVICE PRESIDENT
Trustee or director
5.88$11,301$0
JAY CARRSECRETARY
Trustee or director
3.04$10,962$0
MIKE REYNOLDSDIRECTOR
Trustee or director
2.35$9,536$0
CURTIS POORETREASURER
Trustee or director
4.18$8,897$0
M SHANE YOUNGPRESIDENT
Trustee or director
2.16$8,426$0
KERRY GLISSONDIRECTOR
Trustee or director
2.21$6,957$0
BRIAN BECKERDIRECTOR
Trustee or director
1.81$4,219$0
SCOTT HOUSERDIRECTOR
Trustee or director
1.13$3,977$0
JOYCE JESTERDIRECTOR
Trustee or director
1.91$3,859$0
2 more people on this return
NameTitleHours / weekCompensation
ROBERT CRAIGDIRECTOR
Trustee or director
2.13$3,777
SAVANAH GIBSONDIRECTOR
Trustee or director
1.64$3,696
990 for the year ended December 31, 2023: 17 people
NameTitleHours / weekCompensationOther / benefits
MELISSA TRUECEO
Officer
53$196,386$70,749
RICHARD BYRERJOURNEYMAN LINEMAN
Highest-paid employee
47$140,819$73,316
ADAM WARWASCHIEF OPERATIONS OFFICER
Highest-paid employee
53$147,826$47,157
WESLEY JONESOVERHEAD CONSTRUCTION FORE
Highest-paid employee
46$131,357$39,256
TYLER POWELLLINE FOREMAN
Highest-paid employee
46$130,606$27,063
LUKE LANNONJOURNEYMAN LINEMAN
Highest-paid employee
48$129,001$16,085
JAMEY MARCUMVICE PRESIDENT
Trustee or director
20.67$8,201$0
JAY CARRDIRECTOR
Trustee or director
2.73$7,657$0
CURTIS POORETREASURER
Trustee or director
4.46$7,467$0
BRIAN BECKERDIRECTOR
Trustee or director
3.27$7,463$0
WAYNE JESTERSECRETARY
Trustee or director
4.11$7,046$0
M SHANE YOUNGPRESIDENT
Trustee or director
6.22$6,582$0
KERRY GLISSONDIRECTOR
Trustee or director
1.19$4,049$0
SCOTT HOUSERDIRECTOR
Trustee or director
3.58$3,940$0
MIKE REYNOLDSDIRECTOR
Trustee or director
4.67$3,859$0
NATE LAMARDIRECTOR
Trustee or director
2.01$3,499$0
SAM SPARKSDIRECTOR
Trustee or director
2.21$3,261$0

Address and contacts

Address (IRS master file)
PO BOX D, NEW CASTLE, IN 47362-1046
Principal officer (990 for 2024)
MELISSA TRUE, 3400 S STATE ROAD 3, NEW CASTLE, IN 47362
Signed the 990
MELISSA TRUE, CHIEF EXECUTIVE OFFICER
Phone
(800) 248-8413
Return prepared by
MONROE SHINE & CO INC CPA'S

Mission

PROVIDE RELIABLE, SAFE AND COST-COMPETITIVE ELECTRIC SERVICE TO ENHANCE THE LIVES OF OUR MEMBERS AND THE COMMUNITIES WE SERVE.

990 for the year ended December 31, 2024

Program accomplishments

  • DISTRIBUTION OF ELECTRICITY TO APPROXIMATELY 7,800 MEMBERS ON A COOPERATIVE BASIS.

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
35-0377085
Tax-exempt status
501(c)(12): Benevolent life insurance association or mutual company
Donations deductible
No
Exempt since
1937
Accounting year ends
December
Files
Form 990 or 990-EZ
Assets (IRS master file)
$71,672,252
Income (IRS master file)
$32,628,606

Filing history

FormYear endedRevenueExpensesAssetsReturn
990December 2024$32,627,865$32,627,865$71,672,252XML
990December 2023$30,668,882$30,668,882$67,280,996XML
990December 2022$26,891,779$26,929,478$64,508,164IRS
990December 2021–––IRS
990December 2020–––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 35-0377085).

Questions about HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

What is the EIN of HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION?
The employer identification number (EIN) of HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION is 35-0377085.
Is HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION tax-exempt?
Yes. The IRS lists it as tax-exempt under section 501(c)(12) since 1937.
Are donations to HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION tax-deductible?
No. The IRS master file says contributions to it are not deductible.
Which annual return does HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION 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 HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION 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 HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION 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 HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION?
The 990 for the year ended December 31, 2024 names MELISSA TRUE.
Who are the officers and directors of HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION?
The 990 for the year ended December 31, 2024 lists 17 people; 17 received compensation from the organization, the highest $222,068 (MELISSA TRUE, CEO).
How much revenue does HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION have?
On its 990 for the year ended December 31, 2024 it reported revenue of $32,627,865, expenses of $32,627,865 and total assets of $71,672,252 at year end.

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