HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION

EIN: 350377085

NEW CASTLE, IN

Total Revenue
$32,627,865
Total Expenses
$32,627,865
Total Assets
$71,672,252
Net Assets
$38,444,078
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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year
1936
Legal Domicile
IN
Principal Officer
MELISSA TRUE
Phone
8002488413
Tax Period
2024-01-01 to 2024-12-31

HENRY COUNTY RURAL ELECTRIC MEMBERSHIP CORPORATION, founded in 1936, is a mid-sized nonprofit that reported $32.6M in total revenue in fiscal year 2024.

Mission

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

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $31,751,843
Investment Income $43,529
Other Revenue $832,493
TOTAL REVENUE $32,627,865

Expense Breakdown

Grants Paid $0
Salaries & Benefits $3,993,173
Fundraising Expenses $0
Other Expenses $24,935,958
TOTAL EXPENSES $32,627,865

Year-over-Year Comparison

2024 2023 Change
Revenue $32,627,865 $30,668,882 +0.1%
Expenses $32,627,865 $30,668,882 +0.1%
Net Income $0 $0 N/A
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
11
Independent Members
11
Employees
37
Volunteers
N/A

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
1
$300,097
Total Directors
11
$75,607
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
M SHANE YOUNG PRESIDENT 2.16
Director
$8,426 $0 $8,426
JAMEY MARCUM VICE PRESIDENT 5.88
Director
$11,301 $0 $11,301
CURTIS POORE TREASURER 4.18
Director
$8,897 $0 $8,897
JOYCE JESTER DIRECTOR 1.91
Director
$3,859 $0 $3,859
BRIAN BECKER DIRECTOR 1.81
Director
$4,219 $0 $4,219
ROBERT CRAIG DIRECTOR 2.13
Director
$3,777 $0 $3,777
JAY CARR SECRETARY 3.04
Director
$10,962 $0 $10,962
SAVANAH GIBSON DIRECTOR 1.64
Director
$3,696 $0 $3,696
SCOTT HOUSER DIRECTOR 1.13
Director
$3,977 $0 $3,977
KERRY GLISSON DIRECTOR 2.21
Director
$6,957 $0 $6,957
MIKE REYNOLDS DIRECTOR 2.35
Director
$9,536 $0 $9,536
MELISSA TRUE CEO 51.03
Officer
$222,068 $78,029 $300,097
CODY WALKER EMPLOYEE 46.24
Highest
$132,039 $36,675 $168,714
RICHARD BRYER EMPLOYEE 48.69
Highest
$144,701 $64,257 $208,958
ADAM WARWAS CHIEF OPERATIONS OFFICER 47.90
Highest
$167,264 $50,773 $218,037
CHAD HINESLEY EMPLOYEE 50.18
Highest
$132,789 $46,846 $179,635
WESLY JONES EMPLOYEE 46.08
Highest
$139,390 $39,142 $178,532
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $32,627,865 $32,627,865 $71,672,252 No data
2023 $30,668,882 $30,668,882 $67,280,996 No data
2022 $26,891,779 $26,929,478 $64,508,164 $-37,699
2021 $24,960,625 $24,960,625 $59,562,351 No data
2020 $24,431,155 $24,431,155 $56,851,799 No data
2019 $24,902,289 $24,902,289 $55,097,349 No data
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