Heartland Rural Electric Membership Corporation
100% goes to programs Strong reserves Growing revenue
Heartland Rural Electric Membership Corporation is a 501(c)(12) organization based in Markle, Indiana, registered in 2015, with $89,874,310 in FY2024 revenue. CharityIndex grades it A+, and it directs about 100% of spending to programs.
4563 E Markle Rd, Markle, IN, 46770 EIN 47-1911282 Since 2015
Revenue (FY2024)
$89.9M
▲ 7.0% vs prior year
Membership median: $185K
Expenses (FY2024)
$78.8M
Net assets
$104.7M
Employees
62
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 Heartland Rural Electric Membership Corporation: 100% to programs earns a A+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating16 mo reserves · +12% 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 Heartland Rural Electric Membership Corporation: 16 mo reserves · +12% 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 Heartland Rural Electric Membership Corporation: 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 Heartland Rural Electric Membership Corporation: 4 of 5 disclosure signals earns a A on this criterion. See the exact thresholds →
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Mission
Sale of electricity and broadband internet to members of heartland remc.
Contact & location
- Address
- 4563 E Markle Rd, Markle, IN, 46770
- City
- Markle
- State
- Indiana
- Category
- Mutual & Membership Benefit
- Subcategory
- Insurance Providers
- Phone
- …
- Website
- …
Financial trends
Revenue grew from $24.5M (FY2020) to $89.9M (FY2024) across 5 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $99.2MNet assets $104.7M
Operating margin
12.3%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$203.9M
Total liabilities
$99.2M
Net assets
$104.7M
Salaries & benefits
$1.7M
2% of expenses
Board members
12
12 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $89,874,310▲7.0% | $78,820,058▲2.3% | $104,744,611▲10.8% | $203,919,917▲4.0% | 990 |
| 2023 | $84,024,790▲208% | $77,013,511▲262% | $94,509,136▲6.9% | $196,137,055▲7.5% | 990 |
| 2022 | $27,240,056▲14.1% | $21,275,471▲9.9% | $88,376,974▲8.7% | $182,379,683▲15.8% | 990 |
| 2021 | $23,868,084▼2.4% | $19,354,937▲3.0% | $81,328,450▲4.3% | $157,490,377▲14.2% | 990 |
| 2020 | $24,464,635 | $18,785,049 | $78,001,214 | $137,877,637 | 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: Colt Burnau — $267,733 (0.34% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| Colt Burnau | Ceo | 40 | $267,733 |
| Eric Laymon | Manager Eng & Oper | 40 | $156,629 |
| William Dye | Cfo | 40 | $137,683 |
| Mike Kelsey | Operations Supervisor | 40 | $133,505 |
| Brad Couch | Serviceman | 40 | $132,214 |
| Nick Caley | Corporate Comm & Mbr Srv Mgr | 40 | $131,893 |
| Brady Miller | Foreman | 40 | $128,268 |
| D'ann Stouffer | Director | 7 | $20,170 |
| Matthew Quickery | Vice President | 6 | $19,070 |
| Doug Wilcox | President | 5 | $18,270 |
| Ralph Keefer | Director | 6 | $18,270 |
| Laura Cole | Assistant Secr/treasas | 7 | $18,220 |
| Adam Fusselman | Director | 5 | $17,970 |
| Robert Hippensteel | Director | 4 | $17,370 |
| Joh Smith | Director | 7 | $17,320 |
| Ted Martz | Director | 5 | $17,070 |
| Robert Hippensteel | Director | 4 | $16,945 |
| Alan Schlagenhauf | Director | 8 | $16,920 |
| Jason Dawes | Secretary/treasurer | 4 | $16,210 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| T&b Powerline Construction Inc | Job/work Ordres | $1,572,320 |
| Mint City Utility Srvc LLC | Tree Trimming | $983,499 |
| Delta Star Inc | Substation Work | $925,729 |
| Meridian Cooperative Inc | Software Support | $533,956 |
| Indiana Electric Coop | Reap/trng/sbscrpt/cmplnc | $349,950 |
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Compare Heartland Rural Electric Membership Corporation
Frequently asked questions
- Is Heartland Rural Electric Membership Corporation a legitimate nonprofit?
- Yes. Heartland Rural Electric Membership Corporation is a 501(c)(12) organization registered with the U.S. Internal Revenue Service under EIN 47-1911282, based in Markle, Indiana.
- What is Heartland Rural Electric Membership Corporation's EIN?
- Heartland Rural Electric Membership Corporation's Employer Identification Number (EIN) is 47-1911282.
- How much revenue does Heartland Rural Electric Membership Corporation report?
- Heartland Rural Electric Membership Corporation reported $89,874,310 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Heartland Rural Electric Membership Corporation's spending goes to programs?
- Heartland Rural Electric Membership Corporation spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Heartland Rural Electric Membership Corporation have?
- CharityIndex grades Heartland Rural Electric Membership Corporation A+, based on program efficiency and fundraising cost.
- How much does Heartland Rural Electric Membership Corporation's highest-paid employee make?
- The highest reported compensation on Heartland Rural Electric Membership Corporation's latest Form 990 is $267,733, paid to Colt Burnau (Ceo).
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Data for Heartland Rural Electric Membership Corporation (EIN 47-1911282) 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.