INDIANA STATEWIDE ASSOCIATION OF RURAL ELECTRIC COOPERATIVES

EIN: 351499808

CARMEL, IN

Total Revenue
$9,986,829
Total Expenses
$9,808,567
Total Assets
$10,702,935
Net Assets
$5,551,509
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1935
Legal Domicile
IN
Principal Officer
DEIRDRE TIERNAN
Phone
3174872220
Tax Period
2024-01-01 to 2024-12-31

INDIANA STATEWIDE ASSOCIATION OF RURAL ELECTRIC COOPERATIVES, founded in 1935, is a community nonprofit that reported $10.0M in total revenue in fiscal year 2024.

Mission

PROVIDING SERVICES TO RURAL ELECTRIC MEMBERSHIP COOPERATIVES

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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 $9,892,050
Investment Income $-6,159
Other Revenue $100,938
TOTAL REVENUE $9,986,829

Expense Breakdown

Grants Paid $0
Salaries & Benefits $5,738,138
Fundraising Expenses $0
Program Expenses $9,808,567
Other Expenses $4,070,429
TOTAL EXPENSES $9,808,567

Year-over-Year Comparison

2024 2023 Change
Revenue $9,986,829 $9,523,311 +0.0%
Expenses $9,808,567 $9,760,351 +0.0%
Net Income $178,262 $-237,040 -1.8%
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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Governance

Voting Members
38
Independent Members
38
Employees
38
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
5
$961,120
Total Directors
38
$142,670
Key Employees
3
$749,570
Highest Compensated
4
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
RON ARNHOLT - BARTHOLOMEW DIRECTOR 3.00
Director
$2,350 $0 $2,350
THOMAS DULL - BOONE DIRECTOR 2.50
Director
$5,850 $0 $5,850
GARY GERLACH - CARROLL WHITE DIRECTOR 3.00
Director
$2,700 $0 $2,700
JEFF MYERS - CLARK COUNTY DIRECTOR 2.00
Director
$2,800 $0 $2,800
D TERRY CHAPMAN - DAVIESS-MARTIN DIRECTOR 3.40
Director
$5,850 $0 $5,850
STEVE AMRHEIN - DECATUR COUNTY DIRECTOR 2.00
Director
$2,700 $0 $2,700
DAVID RUDOLPH - DUBOIS REC DIRECTOR 2.00
Director
$2,800 $0 $2,800
LEANDER HOOVER - FULTON COUNTY DIRECTOR 1.25
Director
$1,350 $0 $1,350
DAVID WALTHER - HARRISON REMC DIRECTOR 1.50
Director
$1,350 $0 $1,350
D'ANN STOUFFER - HEARTLAND REMC DIRECTOR 2.00
Director
$2,250 $0 $2,250
DAVE THOMAS - HENDRICKS POWER DIRECTOR 4.00
Director
$2,700 $0 $2,700
WALTER HUNTER - JACKSON COUNTY DIRECTOR 3.00
Director
$2,700 $0 $2,700
DAVID DUTTLINGER - JASPER COUNTY DIRECTOR 3.13
Director
$5,800 $0 $5,800
RONALD SMITHISON - JAY COUNTY DIRECTOR 2.50
Director
$2,250 $0 $2,250
SETH BROWN - JCREMC DIRECTOR 2.50
Director
$3,350 $0 $3,350
MICHAEL YANKAUSKAS - KANKAKEE VALLE DIRECTOR 2.50
Director
$4,000 $0 $4,000
STEVE MINER - KOSCIUSKO REMC DIRECTOR 2.00
Director
$2,250 $0 $2,250
JEFF BRILL - LAGRANGE COUNTY REMC DIRECTOR 2.00
Director
$2,250 $0 $2,250
TODD SMITH - MIAMI-CASS REMC DIRECTOR 4.00
Director
$3,150 $0 $3,150
BRENT CREEK - NEWTON COUNTY DIRECTOR 3.00
Director
$2,250 $0 $2,250
RAYMOND KERKHOF - NINESTAR CONNECT DIRECTOR 2.50
Director
$2,700 $0 $2,700
WILLIAM KNOX - NOBLE REMC DIRECTOR 6.50
Director
$2,250 $0 $2,250
JOE KRUYER - NORTHEASTERN DIRECTOR 2.00
Director
$2,250 $0 $2,250
DANIEL HOUCHIN - ORANGE COUNTY REMC DIRECTOR 3.00
Director
$2,800 $0 $2,800
MICHAEL CARPENTER - PARKE COUNTY RE DIRECTOR 2.00
Director
$900 $0 $900
MARK NIGH - RUSHSHELBY ENERGY DIRECTOR 2.00
Director
$2,700 $0 $2,700
BRUCE HAMLIN - SOUTH CENTRAL INDIAN DIRECTOR 1.00
Director
$2,700 $0 $2,700
MELISSA MENCHHOFER - SOUTHEASTERN I DIRECTOR 3.00
Director
$4,950 $0 $4,950
RANDY KLEAVING -SOUTHERN INDIANA PO DIRECTOR 3.00
Director
$3,700 $0 $3,700
MARC NELSON - STEUBEN COUNTY REMC DIRECTOR 2.00
Director
$2,700 $0 $2,700
LYNN BECK - TIPMONT DIRECTOR 2.00
Director
$3,150 $0 $3,150
MICHAEL WILLIAMS - UDWI DIRECTOR 2.00
Director
$2,700 $0 $2,700
DWAINE AKERS - WARREN COUNTY DIRECTOR 2.00
Director
$1,800 $0 $1,800
GARRY SAYNE - WHITEWATER VALLEY REM DIRECTOR 8.00
Director
$2,250 $0 $2,250
HARLEY DRAKE - WIN ENERGY DIRECTOR 5.00
Director
$1,800 $0 $1,800
STEVE MCMICHAEL - PAULDING PUTNAM PRESIDENT 12.00
Officer Director
$20,320 $0 $20,320
RICHARD LEEPER - MARSHALL VICE PRESIDENT 8.00
Officer Director
$13,850 $0 $13,850
JAMEY MARCUM - HENRY SECRETARY/TREASURER 8.00
Officer Director
$8,450 $0 $8,450
JOHN CASSADY CEO 40.00
Officer
$334,664 $231,428 $566,092
DEIRDRE TIERNAN CFO & COO 40.00
Officer
$235,599 $116,809 $352,408
AMANDA BARTH EMPLOYEE 40.00
Key Emp
$163,159 $71,809 $234,968
JON ELKINS EMPLOYEE 40.00
Key Emp
$168,600 $117,679 $286,279
RYAN HEATER EMPLOYEE 40.00
Key Emp
$178,569 $49,754 $228,323
DEBRA HUNTER EMPLOYEE 40.00
Highest
$127,796 $44,608 $172,404
MARTY JONES EMPLOYEE 40.00
Highest
$128,307 $74,974 $203,281
ADAM LOCK EMPLOYEE 40.00
Highest
$137,466 $60,340 $197,806
GREG PEMBERTON EMPLOYEE 40.00
Highest
$140,144 $37,088 $177,232
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 $9,986,829 $9,808,567 $10,702,935 $178,262
2023 $9,523,311 $9,760,351 $9,253,027 $-237,040
2022 $9,344,192 $9,231,757 $7,698,602 $112,435
2022 $9,344,192 $9,231,757 $7,698,602 $112,435
2021 $8,918,869 $8,290,438 $6,936,351 $628,431
2020 $9,020,295 $8,756,301 $5,950,544 $263,994
2019 $8,684,270 $8,579,735 $5,796,474 $104,535
2018 $8,203,846 $8,233,181 $5,598,932 $-29,335
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