National Rural Electric Cooperative Association

EIN: 530116145

ARLINGTON, VA

Total Revenue
$213,167,702
Total Expenses
$204,797,431
Total Assets
$263,124,065
Net Assets
$100,309,031
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Financial Trends

Organization Details

Formation Year
1942
Legal Domicile
DC
Principal Officer
JIM MATHESON
Phone
7039075960
Tax Period
2023-01-01 to 2023-12-31

NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION, founded in 1942, is a major nonprofit that reported $194.1M in total revenue in fiscal year 2018.

Mission

TRAVEL FOR COMPANIONS: ACCORDING TO NRECA BOARD POLICY, THE SPOUSES OF THE PRESIDENT AND CEO CAN ACCOMPANY THEM ON A TRIP WHEREVER THERE WILL BE OFFICIAL FUNCTIONS FOR WHICH SPOUSES ARE RESPONSIBLE FOR ATTENDING. TRAVEL COSTS FOR COMPANIONS ARE NOT TREATED AS TAXABLE COMPENSATION TO THE RECIPIENT. TAX INDEMNIFICATION AND GROSS UP PAYMENTS: NRECA GROSSES UP PAYMENTS MADE TO STAFF UNDER THE EXECUTIVE 401(K) BONUS PLAN AND ON ELIGIBLE RELOCATION EXPENSES.

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Trantor Score

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

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $187,541,970
Investment Income $2,643,310
Other Revenue $22,982,422
TOTAL REVENUE $213,167,702

Expense Breakdown

Grants Paid $0
Salaries & Benefits $129,759,120
Fundraising Expenses $0
Other Expenses $75,038,311
TOTAL EXPENSES $204,797,431

Year-over-Year Comparison

2023 2022 Change
Revenue $213,167,702 $205,720,476 +0.0%
Expenses $204,797,431 $204,982,837 0.0%
Net Income $8,370,271 $737,639 +10.3%
Key Indicators
✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Governance

Voting Members
48
Independent Members
48
Employees
789
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
6
$4,895,137
Total Directors
50
$1,198,536
Key Employees
2
$2,063,045
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JIM MATHESON CHIEF EXECUTIVE OFFICER 47.6
Officer
$2,804,429 $327,143 $3,131,572
PETER BAXTER SVP INSURANCE & FINANCIAL SERV 54.6
Key Emp
$1,107,481 $129,377 $1,236,858
WAYNE MCGURK SVP CHIEF INFORMATION OFFICER 48.0
Officer
$702,745 $201,195 $903,940
COREY AMON VP INVESTMENT STRATEGY & PERFO 40.0
Highest
$779,507 $91,298 $870,805
JEFFREY CONNOR CHIEF OPERATING OFFICER 46.8
Key Emp
$713,577 $112,610 $826,187
LOUIS FINKEL SVP GOVERNMENT RELATIONS 51.0
Highest
$681,741 $115,157 $796,898
DIGNA LOUIS CHIEF FINANCIAL OFFICER 42.8
Officer
$566,945 $90,598 $657,543
DAVID SCOTT BARASH SVP & GENERAL COUNSEL 44.0
Highest
$475,367 $96,299 $571,666
ANGELA STRICKLAND SVP BUSINESS & TECHNOLOGY 53.0
Highest
$454,573 $52,815 $507,388
DANIELLE SIEVERLING VP RISK & COMPLIANCE OFFICER 52.0
Highest
$400,172 $61,113 $461,285
TONY ANDERSON PRESIDENT, DIRECTOR 16.7
Officer Director
$96,000 $0 $96,000
JOE MARTIN VICE PRESIDENT, DIRECTOR 12.17
Officer Director
$55,000 $0 $55,000
MIKE PARTIN SEC-TREASURER, DIRECTOR 5.0
Officer Director
$51,082 $0 $51,082
LYNN JACOBSON DIRECTOR 7.0
Director
$12,500 $22,500 $35,000
DAVID SPRADLIN DIRECTOR 4.8
Director
$34,000 $0 $34,000
BRYAN CASE DIRECTOR 7.8
Director
$29,500 $0 $29,500
DON DOUGLAS DIRECTOR 3.0
Director
$29,000 $0 $29,000
SCOTT HALLOWELL DIRECTOR 5.0
Director
$27,750 $0 $27,750
STEVEN WALTER DIRECTOR 8.0
Director
$27,750 $0 $27,750
MARK HOFER DIRECTOR 12.3
Director
$27,000 $0 $27,000
CHRISTOPHER HAMON DIRECTOR 5.0
Director
$25,500 $0 $25,500
JAMES WEBB DIRECTOR 4.0
Director
$25,250 $0 $25,250
MARION DENGER DIRECTOR 34.5
Director
$25,000 $0 $25,000
RON WATSON DIRECTOR 5.0
Director
$25,000 $0 $25,000
REUBEN RITTHALER DIRECTOR (UNTIL 1/1/2023) 0.0
$25,000 $0 $25,000
KEVIN DODDRIDGE DIRECTOR 4.0
Director
$24,500 $0 $24,500
MARTY LITTREL DIRECTOR 2.8
Director
$24,500 $0 $24,500
DANNY BERTHELOT DIRECTOR 3.0
Director
$24,250 $0 $24,250
ED CRAWFORD DIRECTOR 3.0
Director
$24,250 $0 $24,250
JEFFERY WRIGHT DIRECTOR 8.0
Director
$24,250 $0 $24,250
HUNTER EMORY DIRECTOR 1.0
Director
$24,000 $0 $24,000
CURTIS NOLAN DIRECTOR 2.0
Director
$18,000 $6,000 $24,000
DAVID IHA DIRECTOR 7.8
Director
$23,250 $0 $23,250
WARREN GOETSCH DIRECTOR 4.0
Director
$23,000 $0 $23,000
INGRID KESSLER DIRECTOR 14.0
Director
$0 $22,500 $22,500
MEERA KOHLER DIRECTOR 5.8
Director
$22,000 $0 $22,000
JEFFREY RATHELL DIRECTOR 4.0
Director
$21,650 $0 $21,650
DANIEL SAULSGIVER DIRECTOR 3.0
Director
$21,500 $0 $21,500
TIM VELDE DIRECTOR 6.8
Director
$21,250 $0 $21,250
KERRY KELTON DIRECTOR 14.6
Director
$21,000 $0 $21,000
RANDY KLEAVING DIRECTOR 9.0
Director
$21,000 $0 $21,000
JESSICA NELSON DIRECTOR 7.0
Director
$20,750 $0 $20,750
GREG STREHLE DIRECTOR 8.0
Director
$20,750 $0 $20,750
CAROLYN TURNER DIRECTOR 5.0
Director
$20,250 $0 $20,250
KENNETH COLBURN DIRECTOR 5.8
Director
$20,000 $0 $20,000
NORRIS FOWLER DIRECTOR 4.0
Director
$20,000 $0 $20,000
PAT MORSE DIRECTOR 4.0
Director
$20,000 $0 $20,000
JEFFREY PETERSON DIRECTOR 5.0
Director
$20,000 $0 $20,000
DONNIE SPIVEY DIRECTOR 3.0
Director
$20,000 $0 $20,000
DAVID HEMBREE DIRECTOR 8.0
Director
$19,750 $0 $19,750
MEL COLEMAN DIRECTOR 6.8
Director
$19,500 $0 $19,500
THOMAS MADSEN DIRECTOR 6.0
Director
$19,000 $0 $19,000
CARY LOGAN DIRECTOR 5.0
Director
$18,900 $0 $18,900
RANDY SHAW DIRECTOR 6.8
Director
$18,250 $0 $18,250
GALEN MILLS DIRECTOR 5.0
Director
$17,250 $0 $17,250
S EUGENE GENE HERRITT DIRECTOR 3.0
Director
$4,000 $10,000 $14,000
CHRIS CHRISTENSEN DIRECTOR 25.3
Director
$12,404 $0 $12,404
CHUCK SIMMONS DIRECTOR 5.0
Director
$12,000 $0 $12,000
OLIN DAVIS DIRECTOR (UNTIL 3/5/2023) 5.0
Director
$6,000 $0 $6,000
JOHN LEE DIRECTOR (UNTIL 1/23/2023) 0.0
Director
$0 $0 $0
TIMOTHY J SMITH DIRECTOR 8.0
Director
$0 $0 $0
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 No data No data No data No data
2023 $213,167,702 $204,797,431 $263,124,065 $8,370,271
2022 $205,720,476 $204,982,837 $253,418,209 $737,639
2021 $194,864,336 $197,265,051 $240,890,294 $-2,400,715
2020 $184,006,100 $183,527,819 $229,873,296 $478,281
2019 $202,779,789 $202,013,478 $213,534,090 $766,311
2018 $194,080,159 $194,127,310 $207,412,991 $-47,151
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