Boone County Rural Electric Membership Corp
501(c)(12)
100% goes to programs Strong reserves Growing revenue
Boone County Rural Electric Membership Corp is a 501(c)(12) organization based in Lebanon, Indiana, registered in 1938, with $76,545,941 in FY2024 revenue. CharityIndex grades it A+, and it directs about 100% of spending to programs.
Po Box 563, Lebanon, IN, 46052 EIN 35-0188040 Since 1938
Revenue (FY2024)
$76.5M
▲ 10.8% vs prior year
Expenses (FY2024)
$63.8M
Net assets
$87.8M
Employees
57
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
A+
A+Program efficiency40% of the rating100% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Boone County Rural Electric Membership Corp: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating17 mo reserves · +17% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Boone County Rural Electric Membership Corp: 17 mo reserves · +17% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Boone County Rural Electric Membership Corp: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
ATransparency10% of the rating4 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Boone County Rural Electric Membership Corp: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Providing our members energy-related services in a safe, dependable, and reasonably priced manner.
Contact & location
Financial trends
Revenue grew from $60.2M (FY2021) to $76.5M (FY2024) across 4 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $88.5MNet assets $87.8M
Operating margin
16.7%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$176.3M
Total liabilities
$88.5M
Net assets
$87.8M
Salaries & benefits
$4.0M
6% of expenses
Board members
9
8 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $76,545,941▲10.8% | $63,759,730▲8.1% | $87,804,980▲16.8% | $176,258,272▲7.2% | 990 |
| 2023 | $69,061,714▲9.4% | $58,966,356▲0.7% | $75,173,489▲22.3% | $164,434,988▲3.0% | 990 |
| 2022 | $63,135,395▲4.8% | $58,558,112▲7.4% | $61,453,740▲7.7% | $159,678,788▲20.3% | 990 |
| 2021 | $60,230,638 | $54,511,483 | $57,077,233 | $132,784,446 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: William Conley — $351,406 (0.55% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| William Conley | Ceo/president | 40 | $351,406 |
| Jeanette Johnson | Vp of Corporate Services/cfo | 40 | $184,676 |
| Corey Willis | Vp of Corporate Development & Technology | 40 | $183,803 |
| Jeffery Dickerson | Vp of Operations | 40 | $176,216 |
| Allen Jones | Vp of Engineering Services | 40 | $174,693 |
| Benjamin Duke | Accounting Manager | 40 | $143,618 |
| Gerald Lasley | Construction & Staking Services Coordinator | 40 | $142,368 |
| Pam Warmoth | Executive Assistant & Hr Coordinator | 40 | $139,420 |
| Noel Kendall | Chairman | 8.58 | $23,160 |
| Thomas Dull | Vice-chairman | 3.84 | $21,560 |
| Jon Stevens | Director | 6.04 | $21,360 |
| Alan Cragun | Director | 5.44 | $18,960 |
| Bruce Guernsey | Director | 4.13 | $17,160 |
| Mark Gruninger | Secretary/treasurer | 3.38 | $17,160 |
| Mark Starkey | Director | 3.25 | $15,360 |
| Danny Lawson | Director | 1.67 | $15,110 |
| Brian Gott | Director | 4.49 | $13,670 |
| G Tom Taylor | Director | 1.59 | $4,920 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Electricom LLC | Contractor | $779,793 |
| Co-alliance Cooperative Inc | Fuel | $123,743 |
Frequently asked questions
- Is Boone County Rural Electric Membership Corp a legitimate nonprofit?
- Yes. Boone County Rural Electric Membership Corp is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 35-0188040, based in Lebanon, Indiana.
- What is Boone County Rural Electric Membership Corp's EIN?
- Boone County Rural Electric Membership Corp's Employer Identification Number (EIN) is 35-0188040.
- How much revenue does Boone County Rural Electric Membership Corp report?
- Boone County Rural Electric Membership Corp reported $76,545,941 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Boone County Rural Electric Membership Corp's spending goes to programs?
- Boone County Rural Electric Membership Corp spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Boone County Rural Electric Membership Corp have?
- CharityIndex grades Boone County Rural Electric Membership Corp A+, based on program efficiency and fundraising cost.
- How much does Boone County Rural Electric Membership Corp's highest-paid employee make?
- The highest reported compensation on Boone County Rural Electric Membership Corp's latest Form 990 is $351,406, paid to William Conley (Ceo/president).
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Data for Boone County Rural Electric Membership Corp (EIN 35-0188040) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.