2024-10-15T12:46:12-05:00 2023-12-31 202000257 Fiore Fedeli Snyder Carothers LLP 2013 Sandy Dr Ste 200 State College PA 16803 990 2023-01-01 250809685 REA ENERGY COOPERATIVE INC REAE 7243494800 75 AIRPORT ROAD PO Box 70 INDIANA PA 15701 CHAD CARRICK PRESIDENT 7243494800 2024-10-15 1 1 JOSEPH P FEDELI CPA P00538622 8142378999 2024-10-15 2023 2024-10-15 13:58:12Z CHAD CARRICK 75 AIRPORT ROAD PO Box 70 INDIANA PA 15701 53733786 0 X WWW.REAENERGY.COM X 1937 PA REA'S MISSION IS TO PROVIDE ELECTRICITY TO MEMBERS IN RURAL PENNSYLVANIA ON A COOPERATIVE BASIS. 9 9 73 0 0 0 0 0 0 51112008 374477 626744 25748891 1995034 26123368 53733786 8500 0 0 1033443 617321 664139 0 0 0 18943940 48397071 19569761 50094653 6553607 3639133 155432228 156077980 76587897 73591960 78844331 82486020 REA'S MISSION IS TO PROVIDE ELECTRICITY TO MEMBERS IN RURAL PENNSYLVANIA ON A COOPERATIVE BASIS. 0 0 THE COOPERATIVE IS AN ELECTRIC UTILITY SERVING RESIDENTIAL, COMMERCIAL, AND INDUSTRIAL CUSTOMERS IN THE RURAL AREAS OF INDIANA COUNTY AND THE SURROUNDING COUNTIES. 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 31 0 1 73 1 0 0 0 0 0 0 0 51112008 2621779 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X LISA GARDILL 7243494800 75 AIRPORT ROAD PO BOX 70 INDIANA PA 15701 MICHAEL BERTOLINO CHAIRMAN 6.50 X X 23257 0 0 ROBERT NEESE SECRETARY/TREASURER 6.00 X X 22757 0 0 WAYNE FARABAUGH VICE CHAIRMAN 3.00 X X 22357 0 0 THOMAS AURANDT DIRECTOR 5.00 X 19812 0 0 JOHN LEARN DIRECTOR 4.00 X 20857 0 0 ANTHONY ENCISO DIRECTOR 5.00 X 21607 0 0 JAMES SHOPE DIRECTOR 5.00 X 19357 0 0 SANDRA K DILL DIRECTOR 3.00 X 19107 0 0 THOMAS BERENSNYAK DIRECTOR 4.00 X 23267 0 0 CHAD CARRICK PRESIDENT AND CEO 55.00 X 357211 0 114550 BARRY BAKER OPERATIONS MANAGER 55.00 X 156746 0 60913 MATT BUMBARGER LINEMAN 50.00 X 139544 0 45202 BRIAN BURNS ENGINEERING TECHNICIAN 50.00 X 135730 0 52315 WAYNE BUTERBAUGH LINEMAN 50.00 X 136113 0 42987 WILLIAM C NEHRIG CHIEF LINEMAN 50.00 X 135708 0 45181 1253430 0 361148 6 0 1 0 PENN LINE SERVICE 300 SCOTTDALE AVENUE SCOTTDALE PA 15683 UTILITY CONTRACTING 4004057 BNF POWERLINE CONSTRUCTION 361 BRUMBAUGH ROAD ROARING SPRING PA 16673 LINE SERVICES 2205528 TUNEFUL EXHAUST WORKS LLC 2080 BARR SLOPE ROAD CLYMER PA 15728 MECHANIC 217964 AMERICAN ENERGY SERVICES INC 69210 SKINNER DRIVE RICHMOND MI 48062 POLE INSPECTIONS 104720 4 ELECTRIC SERVICE REVENUE 221000 51112008 51112008 51112008 575062 575062 51682 0 51682 51682 51682 PATRONAGE CAP CREDITS 221000 1768102 1768102 EARNINGS IN SUBSIDIARIES 221000 198361 198361 MISCELLANEOUS 221000 28571 28571 1995034 53733786 53158724 0 575062 1033443 664139 10358 13221 90905 10183 344890 2041849 4135419 COST OF PURCHASED POWER 28951823 DISTRIBUTION EXPENSE - 6025707 GENERAL & ADMINISTRATIV 2167651 DISTRIBUTION EXPENSE - 1939632 2665433 50094653 5118715 2185885 12176215 7513521 5169573 6045071 1395871 1752828 282537 180751 150006122 35889641 108327735 114116481 22761405 24112169 200177 171274 155432228 156077980 4684794 4797775 66411514 62921097 5491589 5873088 76587897 73591960 X 93560 95110 0 0 78750771 82390910 78844331 82486020 155432228 156077980 X 3639133 2556 X X 0 1 X 1 0 108741 108741 4434618 3724036 710582 136546150 25395436 111150714 8916613 6770169 2146444 114116481 PATRONAGE CAPITAL 20149916 C INVESTMENT IN SUBSIDIARIES 3956053 C OTHER 6200 C 24112169 DEFERRED CREDITS 4855469 ACCUMULATED PROVISION FOR OTHER POST RETIREMENT BENEFIT 633771 CUSTOMER DEPOSITS AND PREPAYMENTS 219399 ACCUMULATED PROVISION FOR DEFERRED COMP 164449 5873088 X 53733786 0 53733786 0 53733786 49061210 0 49061210 1033443 1033443 50094653 Part X, Line 2: REA ENERGY IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES PURSUANT TO SECTION 501(C)(12) OF THE INTERNAL REVENUE CODE AS LONG AS MORE THAN 85 PERCENT OF THE REVENUE IS RECEIVED FROM ITS MEMBERS. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS. ITS FOR-PROFIT SUBSIDIARIES ARE RESPONSIBLE FOR INCOME TAXES ON ANY TAXABLE EARNINGS. THESE TAXES RESUTLING FROM OPERATIONS ARE NOT CONSIDERED TO BE SIGNIFICANT. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY REA ENERGY AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2023, THERE ARE NO UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. REA ENERGY'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. REA ENERGY IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS. REA ENERGY'S TAX RETURNS FOR THE YEARS 2020 AND FORWARD ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. Part XII, Line 4b - Other Adjustments: ALLOCATION OF CAPITAL CREDITS TO COOPERATIVE MEMBERS. 1 Part I, Line 2: FUNDING FOR ASSISTANCE PROVIDED BY THE COOPERATIVE COMES FROM THE COOPERATIVE'S ESCHEATS PROGRAM (AS PERMITTED BY THE COMMONWEALTH OF PENNSYLVANIA) WHICH IS UTILITZED FOR ENERGY ASSISTANCE, CIVIC, AND/OR EDUCATIONAL PURPOSES. THE COOPERATIVE HAS A COMMITTEE THAT EVALUATES FUNDING LEVELS AND MAKES RECOMMENDATION TO THE BOARD FOR DISBURSEMENT. X X 0 0 0 CHAD CARRICK PRESIDENT AND CEO 357211 0 0 0 0 0 86975 0 27575 0 471761 0 0 0 BARRY BAKER OPERATIONS MANAGER 156746 0 0 0 0 0 41792 0 19121 0 217659 0 0 0 BRIAN BURNS ENGINEERING TECHNICIAN 135730 0 0 0 0 0 26563 0 25752 0 188045 0 0 0 MATT BUMBARGER LINEMAN 139544 0 0 0 0 0 26563 0 18639 0 184746 0 0 0 WILLIAM C NEHRIG CHIEF LINEMAN 135708 0 0 0 0 0 26542 0 18639 0 180889 0 0 0 WAYNE BUTERBAUGH LINEMAN 136113 0 0 0 0 0 26563 0 16424 0 179100 0 0 0 Form 990, Part VI, Section A, line 6 REA ENERGY COOPERATIVE IS GOVERNED BY A NINE MEMBER BOARD OF DIRECTORS. MEMBERS OF REA ENERGY COOPERATIVE ELECT THE DIRECTORS TO FOUR YEAR TERMS. ACCORDING TO THE BY-LAWS OF THE REA ENERGY COOPERATIVE, "IN THE EVENT OF THE DISSOLUTION OR LIQUIDATION OF THE COOPERATIVE, AFTER ALL OUTSTANDING INDEBTEDNESS OF THE COOPERATIVE HAS BEEN PAID OFF, OUTSTANDING CAPITAL CREDITS SHALL BE RETURNED WITHOUT PRIORITY ON A PRO-RATA BASIS BEFORE ANY PAYMENTS ARE MADE ON ACCOUNT OR PROPERTY RIGHTS OF PATRONS." Form 990, Part VI, Section A, line 7a MEMBERS OF REA ENERGY COOPERATIVE ELECT THE BOARD OF DIRECTORS TO STAGGERED, FOUR YEAR TERMS. Form 990, Part VI, Section A, line 7b ACCORDING TO THE BY-LAWS OF REA ENERGY COOPERATIVE, "THE COOPERATIVE MAY SELL, LEASE, LEASE-SELL, EXCHANGE OR OTHERWISE DISPOSE OF ALL OR SUBSTANTIALLY ALL OF ITS ASSETS ONLY WHEN AUTHORIZED BY THE AFFIRMATIVE VOTE OF TWO-THIRDS OF ALL MEMBERS OF THE COOPERATIVE." Form 990, Part VI, Section B, line 11b THE CEO OF THE COOPERATIVE WILL REVIEW AND APPROVE THE FORM 990 PRIOR TO SIGNING THE FORM 990 AND FILING WITH THE INTERNAL REVENUE SERVICE. THE FORM 990 IS PROVIDED TO THE BOARD OF DIRECTORS FOR REVIEW, PRIOR TO FILING. Form 990, Part VI, Section B, line 12c AS FIDUCIARIES OF REA ENERGY COOPERATIVE, INC., THE DIRECTORS AND EMPLOYEES OWE A DUTY OF UNDIVIDED LOYALTY AND FIDELITY TO REA. DIRECTORS AND EMPLOYEES HAVE THE RESPONSIBILITY OF ADMINISTERING THE AFFAIRS OF REA, BOTH HONESTLY AND PRUDENTLY AND OF EXERCISING THEIR BEST CARE, SKILL, AND JUDGEMENT FOR THE SOLE BENEFIT OF REA. THOSE PERSONS SHALL EXERCISE THE UTMOST GOOD FAITH IN ALL TRANSACTION INVOLVED IN THEIR DUTIES AND THEY SHALL NOT USE THEIR POSITIONS WITH REA OR KNOWLEDGE GAINED THERE FOR THEIR PERSONAL BENEFIT. THE INTERESTS OF REA MUST BE THE FIRST PRIORITY IN ALL DECISIONS AND ACTIONS. ALL DIRECTORS AND EMPLOYEES ARE REQUIRED TO FILL OUT AND SIGN THE FORM DETAILING POSSIBLE CONFLICTS OR STATING THAT NONE EXIST. THESE FORMS ARE REVIEWED BY THE BOARD OF DIRECTORS. DISCLOSURES SHOULD BE MADE TO THE EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS, WHO SHALL BRING THE MATTER TO THE ATTENTION OF THE BOARD OF DIRECTORS. THE BOARD SHALL THEN DETERMINE WHETHER A CONFLICT EXISTS. IN THE MINUTES, THE BOARD WILL DOCUMENT THE NAMES OF THE PERSONS WHO DISCLOSED OR OTHERWISE WERE FOUND TO HAVE A FINANCIAL INTEREST IN CONNECTION WITH AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE NATURE OF THEIR INTEREST, ANY ACTIONS TO DETERMINE WHETHER A CONFLICT WAS PRESENT, AND THE FINAL DECISION AS TO WHETHER A CONFLICT IN FACT EXISTED. THE DECISION OF THE BOARD ON THESE MATTERS WILL REST IN THEIR SOLE DISCRETION. Form 990, Part VI, Section B, line 15 THE COMPENSATION FOR THE CEO OF THE COOPERATIVE IS REVIEWED ANNUALLY BY THE BOARD OF DIRECTORS, USING WHAT OTHER GENERAL MANAGERS AND CEO'S EMPLOYED BY ELECTRIC COOPERATIVES WITHIN THE STATE OF PENNSYLVANIA EARN, AS A GUIDE. THE COMPENSATION FOR KEY EMPLOYEES OF THE COOPERATIVE IS REVIEWED ANNUALLY BY THE CEO. Form 990, Part VI, Section C, line 19 THE BY-LAWS OF REA COOPERATIVE AREA VAILABLE FOR REVIEW ON THE REA ENERGY COOPERATIVE WEBSITE. THE FORM 990 IS AVAILABLE TO THE PUBLIC UPON REQUEST. FINANCIAL INFORMATION IS PRESENTED IN THE "PENN LINES MAGAZINE." PENN LINES MAGAZINE IS A MONTHLY MAGAZINE DISTRIBUTED BY OUR STATE-WIDE ORGANIZATION. Form 990, Part XI, line 9: DONATED CAPITAL 1,006. CHANGE IN MEMBERSHIPS 1,550. OTHER CHANGES IN EQUITY PART XI, LINE 2C NO CHANGES IN PROCESS FROM PRIOR YEAR REA ENERGY SERVICES INC 75 AIRPORT ROAD INDIANA PA 15701 251806808 UTILITY SERVICES PA REA ENERGY C 1.00000 0 IN THE STIX BROADBAND LLC 128 HIGH STREET CRESSON PA 16630 263793270 BROADBAND INTERNET SERVICES PA REA ENERGY C 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 REA ENERGY SERVICES INC O COST