NORTHEASTERN RURAL ELECTRIC MEMBER… - Form 990 Financial Data

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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

Principal Officer

ERIC JUNG

Phone

8884136111

Tax Period

2024-01-01 to 2024-12-31

NORTHEASTERN RURAL ELECTRIC MEMBERSHIP CORPORATION, founded in 1936, is a major nonprofit that reported $132.2M in total revenue in fiscal year 2024. Revenue grew 8% year-over-year, indicating healthy expansion.

Mission

NORTHEASTERN RURAL ELECTRIC MEMBERSHIP CORPORATION (NREMC) IS INDIANA'S THIRD LARGEST MEMBER-OWNED ELECTRIC DISTRIBUTION COOPERATIVE SUPPLYING ELECTRIC POWER TO MORE THAN 34,000 MEMBERS IN PORTIONS OF ALLEN, HUNTINGTON, KOSCIUSKO, NOBLE, WABASH, AND WHITLEY COUNTIES IN NORTHEASTERN INDIANA. NREMC IS COMMITTED TO ENSURING SUSTAINABLE, COST-EFFECTIVE, AND RELIABLE ENERGY SUPPLY TO ITS MEMBERS ACROSS NORTHEASTERN INDIANA. NREMC IS AN ATYPICAL COOPERATIVE THAT HAS STRATEGICALLY POSITIONED ITSELF TO LEVERAGE ITS FLEXIBILITY THROUGH THE IMPLEMENTATION OF BEHIND THE METER (BTM) RESOURCES. NREMC, AS AN INNOVATIVE DISTRIBUTION SYSTEM OPERATOR (DSO), UTILIZES ITS FLEXIBILITY TO BETTER CONTROL ITS COSTS. NREMC IS A LOAD SERVING ENTITY (LSE) IN PJM.

Program Service Accomplishments

Program 1

DISTRIBUTION OF ELECTRICITY TO RURAL CUSTOMERS.

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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%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $131,695,909

Investment Income $95,981

Other Revenue $390,549

TOTAL REVENUE $132,182,439

Expense Breakdown

Grants Paid $0

Salaries & Benefits $2,244,164

Fundraising Expenses $0

Other Expenses $125,558,432

TOTAL EXPENSES $132,165,700

Year-over-Year Comparison

	2024	2023	Change
Revenue	$132,182,439	$122,357,885	+0.1%
Expenses	$132,165,700	$118,061,718	+0.1%
Net Income	$16,739	$4,296,167	-1.0%

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

Governance

Voting Members

Independent Members

Employees

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

$1,123,603

Total Directors

$163,050

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
DOUGLAS SCHRADER	CHAIRPERSON	2.30	Officer Director	$17,050	$0	$17,250
ROBERT HIGGINS	SECRETARY	3.90	Officer Director	$16,750	$0	$16,750
CARI JUILLERAT	BOARD MEMBER	1.50	Director	$5,500	$0	$5,500
WESLEY WOLFE	BOARD MEMBER	1.80	Director	$5,500	$0	$5,500
GARY GORRELL	TEASURER	2.10	Officer Director	$17,050	$0	$17,050
CATHY EGOLF	BOARD MEMBER	2.50	Director	$21,000	$0	$21,200
ERIK LINNEMEIER	BOARD MEMBER	2.30	Director	$16,400	$0	$16,400
JEREMY MCCLISH	VICE CHAIRPERSON	3.70	Officer Director	$20,450	$0	$20,450
INGRID NICHOLSON	BOARD MEMBER (THRU 09/24)	3.10	Director	$16,900	$0	$16,900
THOMAS WESTERN	BOARD MEMBER (THRU 09/24)	1.60	Director	$10,400	$0	$10,400
JOE KRUYER	BOARD MEMBER (THRU 08/24)	3.40	Director	$15,650	$0	$15,650
ERIC JUNG	PRESIDENT AND CEO	55.00	Officer	$385,286	$136,598	$521,884
JAMES EITSERT	VP DISTRIBUTION SERVICES	48.00	Officer	$197,454	$90,538	$287,992
AUDRA UHER	CFO	48.00	Officer	$179,355	$62,872	$242,227
SCOTT SNYDER	DIRECTOR OF OPERATIONS	45.00	Highest	$151,311	$78,810	$230,121
TERESA MERRYMAN	HR DIRECTOR	45.00	Highest	$148,855	$60,481	$209,336
NATHAN BUCKLES	JOURNEYMAN LINEMAN	45.00	Highest	$149,304	$51,973	$201,277
WAYNE OBRIEN	VP, IT & CYBER SECURITY	48.00	Highest	$147,643	$52,475	$200,118
TODD MYERS	JOURNEYMAN LINEMAN	47.00	Highest	$144,802	$45,089	$189,891

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	$132,182,439	$132,165,700	$197,488,212	$16,739
2023	$122,357,885	$118,061,718	$181,557,259	$4,296,167
2022	$148,636,885	$144,784,808	$169,828,960	$3,852,077
2021	$126,158,719	$121,872,577	$154,005,839	$4,286,142
2020	$107,730,098	$104,701,085	$119,469,437	$3,029,013

NORTHEASTERN RURAL ELECTRIC MEMBERSHIP CORPORATION