2024-11-05T13:15:09-06:00 2023-12-31 930623286 ALDRICH CPAS AND ADVISORS LLP 680 HAWTHORNE AVE SE 140 SALEM OR 97301 990 2023-01-01 350914373 HANCOCK RURAL TELEPHONE CORPORATION DBA NINESTAR CONNECT HANC 3173263131 2243 E MAIN GREENFIELD IN 46140 SCOTT HIATT SENIOR VICE PRESIDENT 3173263131 2024-11-05 1 1 RYAN M JOHNSON CPA P01048788 5035857774 2024-11-05 2023 2024-10-15 13:58:12Z NINESTAR CONNECT SCOTT HIATT 2243 E MAIN GREENFIELD IN 46140 63268026 0 X WWW.NINESTARCONNECT.COM X 1950 IN PROVIDING SUPERIOR ELECTRIC AND VARIOUS TELECOMMUNICATION PRODUCTS AND SERVICES TO OUR CUSTOMERS. 13 13 17 0 45464 0 0 0 58157731 60140856 455613 900882 139588 758094 58752932 61799832 15000 13000 2128615 1906307 1630670 1724485 0 0 0 53109943 54570340 56884228 58214132 1868704 3585700 234385558 256602138 49814636 62782970 184570922 193819168 PROVIDE VARIOUS ELECTRIC, TELECOMMUNICATIONS, WATER, AND SEWER PRODUCTS AND SERVICES TO COOPERATIVE CUSTOMERS IN A 8-COUNTY AREA OF EAST CENTRAL INDIANA. 0 0 58214132 13000 PROVIDES ELECTRIC, TELECOMMUNICATIONS, WATER AND SEWER PRODUCTS AND SERVICES TO COOPERATIVE CUSTOMERS IN A 8-COUNTY AREA OF EAST CENTRAL INDIANA. AS OF DECEMBER 31, 2023, THE NUMBER OF ELECTRIC SERVICES TOTALED 18,356, 11,320 BROADBAND CUSTOMERS, 1,213 WATER CUSTOMERS AND 129 SEWER UTILITY CUSTOMERS. 58214132 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 1 1 0 0 0 0 0 1 0 0 0 0 0 1 1 0 0 1 124 0 17 1 1 1 0 0 0 0 0 0 50536629 5126532 0 0 0 X 13 13 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 IN X SCOTT HIATT 3173263131 2243 E MAIN GREENFEILD IN 46140 RAYMOND KERKHOF CHAIRMAN 8.00 X X 21300 0 0 STEPHEN VAIL VICE CHAIRMAN 7.00 X X 18200 0 0 CHARLES KENNEDY SECRETARY/TREASURER 5.00 X X 18300 0 0 JAMES CHERRY DIRECTOR 7.00 X 5925 0 0 MARK EVANS DIRECTOR 5.00 X 14500 0 0 JACK NEGLEY DIRECTOR 6.00 X 17700 0 0 PHILIP HAYES DIRECTOR 8.00 X 18400 0 0 SUSAN BODKIN DIRECTOR 5.00 X 17700 0 0 THOMAS ORDING DIRECTOR 5.00 X 17700 0 0 JOSEPH PAXTON DIRECTOR 5.00 X 17700 0 0 SCOTT PITTMAN DIRECTOR 6.00 X 17700 0 0 ROBIN RICHEY DIRECTOR 6.00 X 17700 0 0 TIMOTHY BRYANT DIRECTOR 4.00 X 17700 0 0 DARRELL THOMAS DIRECTOR 2.00 X 3413 0 0 RICHARD GRIFFIN DIRECTOR 7.00 X 14775 0 0 MIKE BURROW PRESIDENT & CEO 50.00 X 371927 0 123893 SCOTT HIATT CHIEF FINANCIAL OFFICER 47.00 X 220426 0 79508 REGINA BEVER VP OF ADMINISTRATION 43.00 X 179382 0 53466 JEFF CONLEY VP OF OPERATIONS 44.00 X 153151 0 51781 ROSS FERSON CHIEF TECHNOLOGY OFFICER 45.00 X 188872 0 63366 JAMIE BELL CONSTRUCTION ENGINEER 52.00 X 121076 0 49499 THOMAS NANCE DIRECTOR OF ELECTRIC OPERATIONS 49.00 X 134351 0 50501 KORY CHAPMAN JORNEYMAN LINEMAN 48.00 X 129697 0 51630 AUSTIN GEARLDS JORNEYMAN LINEMAN 48.00 X 137227 0 36145 BRYAN GIDDINGS LEAD LINEMAN 52.00 X 163458 0 39406 2038280 0 599195 23 0 1 0 ELECTRICOM LLC PO BOX 319 PAOLI IN 47454 CONTRACT LABOR AND MATERIALS 1613857 OFS FITEL PO BOX 538616 ATLANTA GA 30353 MATERIALS 921082 MARK-IT-RIGHT LLC PO BOX 309 DANVILLE IN 46122 CONTRACT LABOR - LOCATES 740665 GENERAL DATATECH LP 999 METROMEDIA PLACE DALLAS TX 75247 MATERIALS 369012 TREECORE LLC PO BOX 353 HARBERT MI 49115 CONTRACT LABOR 292708 9 ELECTRIC SERVICES 221100 46921306 46921306 TELECOMMUNICATIONS SERVICES 517000 12023004 12023004 WATER REVENUE 221100 1043124 1043124 SEWER REVENUE 221100 153422 153422 60140856 1004788 1004788 657200 631489 25711 25711 25711 732799 836705 -103906 -103906 -103906 G&T ALLOCATED MARGINS 517000 664817 664817 POLE CONTACT RENTALS 532000 47813 47813 ADVERTISING 541800 19753 19753 732383 61799832 60701767 45464 1052601 13000 13000 1906307 1906307 1724485 1724485 1613815 1613815 7666480 7666480 PURCHASED POWER 29580872 29580872 ELECTRIC OPERATIONS AND 4786820 4786820 CORPORATE OPERATIONS 3608677 3608677 PLANT SPECIFIC 2724151 2724151 4589525 4589525 58214132 58214132 0 0 6929933 11158553 1867785 1820879 6354196 6947345 334885 289409 181192818 82860776 92098579 98332042 120255233 126752213 6544947 11301697 234385558 256602138 11409053 12479508 6000000 36221751 42142177 2183832 2161285 49814636 62782970 X 0 0 0 0 184570922 193819168 184570922 193819168 234385558 256602138 X 3585700 2544096 3118450 X X 0 1 X 1 0 344692 344692 1710619 958684 751935 179137507 81902092 97235415 98332042 CENTRAL INDIANA COMMUNICATIONS 83406084 C NATIONAL TELCOM CORP COMMON STOCK 2581668 C RTFC PATRONAGE CREDITS 722 C PATRONAGE CAPITAL 12677608 C OTHER INVESTMENTS 1108223 C HELD TO MATURITY SECURITIES 9661561 C MARKETABLE SECURITIES 17316347 C 126752213 POST RETIREMENT BENEFITS 2161285 2161285 X 68645181 2544096 4301253 6845349 61799832 0 61799832 57467456 1159631 1159631 56307825 1906307 1906307 58214132 PART X, LINE 2: THE COOPERATIVE FOLLOWS ACCOUNTING STANDARDS GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA RELATED TO THE RECOGNITION OF UNCERTAIN TAX POSITIONS. THE COOPERATIVE RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS AS PART OF THE INCOME TAX PROVISION, WHEN APPLICABLE. THERE WERE NO AMOUNTS ACCRUED IN THE CONSOLIDATED FINANCIAL STATEMENTS RELATED TO UNCERTAIN TAX POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: INCOME FROM SUBSIDIARY 3,141,622. UNRELATED BUSINESS EXPENSES - RENTAL EXPENSE 631,489. INCOME NETTED WITH EXPENSES 528,142. PART XII, LINE 2D - OTHER ADJUSTMENTS: UNRELATED BUSINESS EXPENSES - RENTAL EXPENSE 631,489. EXPENSES NETTED WITH REVENUES 528,142. PART XII, LINE 4B - OTHER ADJUSTMENTS: PAYMENT OF CAPITAL CREDITS 1,906,307. 1 SCHOLARSHIPS 13 13000 PART I, LINE 2: PROOF OF SCHOOL ENROLLMENT MUST BE SUBMITTED TO THE COOPERATIVE PRIOR TO AWARD DISBURSEMENT. SCHOLARSHIP FUNDS WILL BE APPLIED DIRECTLY TOWARD SCHOOL-RELATED COSTS (TRAVEL AND HOUSING EXCLUDED). DISBURSEMENT OF AWARDS WILL BE MADE DIRECTLY TO THE EDUCATIONAL INSTITUTION UPON RECEIPT OF VERIFICATION OF ENROLLMENT. IN THE EVENT THE SCHOLARSHIP FUNDS ARE NOT AWARDED/CLAIMED WITHIN ONE YEAR FROM THE AWARD DATE, FUNDS WILL BE RETAINED FOR FUTURE SCHOLARSHIP CONSIDERATION. RELATIVES OF DIRECTORS AND OFFICERS ARE NOT CONSIDERED FOR AWARD DISBURSEMENT. X X X 0 0 0 MIKE BURROW PRESIDENT & CEO 312375 0 40000 0 19552 0 123893 0 0 0 495820 0 0 0 SCOTT HIATT CHIEF FINANCIAL OFFICER 198000 0 13000 0 9426 0 79508 0 0 0 299934 0 0 0 ROSS FERSON CHIEF TECHNOLOGY OFFICER 166250 0 12100 0 10522 0 63366 0 0 0 252238 0 0 0 REGINA BEVER VP OF ADMINISTRATION 151500 0 11400 0 16482 0 53466 0 0 0 232848 0 0 0 JEFF CONLEY VP OF OPERATIONS 150350 0 0 0 2801 0 51781 0 0 0 204932 0 0 0 BRYAN GIDDINGS LEAD LINEMAN 106038 0 2100 0 55320 0 39406 0 0 0 202864 0 0 0 THOMAS NANCE DIRECTOR OF ELECTRIC OPERATIONS 130000 0 6900 0 -2549 0 50501 0 0 0 184852 0 0 0 KORY CHAPMAN JORNEYMAN LINEMAN 100818 0 2100 0 26779 0 51630 0 0 0 181327 0 0 0 AUSTIN GEARLDS JORNEYMAN LINEMAN 100818 0 2100 0 34309 0 36145 0 0 0 173372 0 0 0 JAMIE BELL CONSTRUCTION ENGINEER 117890 0 6200 0 -3014 0 49499 0 0 0 170575 0 0 0 RAYMOND KERKHOF BOARD MEMBER 29576347 RAYMOND KERKHOF IS THE CHAIRMAN OF THE BOARD FOR HANCOCK RURAL TELEPHONE CORPORATION DBA NINESTAR CONNECT. HE ALSO SERVES ON THE WABASH VALLEY POWER ALLIANCE BOARD OF DIRECTORS. NINESTAR CONNECT PURCHASED $29,576,347 OF PURCHASED POWER FROM WABASH VALLEY POWER DURING 2023. THE SUPPLY CONTRACT WITH WABASH VALLEY POWER WILL EXPIRE IN 2028. 0 FORM 990, PART VI, SECTION A, LINE 6 EACH MEMBER HAS THE RIGHT TO PARTICIPATE IN THE ORGANIZATION'S GOVERNANCE OR RECEIVE DISTRIBUTIONS OF INCOME OR ASSETS. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER OF THE COOPERATIVE HAS ONE VOTE. THE VOTE ALLOWS THEM TO ELECT THE BOARD AS WELL AS VOTE ON ANY ISSUE THAT COMES BEFORE THE MEMBERSHIP AT A SPECIAL OR ANNUAL MEETING. FORM 990, PART VI, SECTION A, LINE 7B LIMITED TO APPROVING ANY CHANGES MADE TO THE BY-LAWS. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD RECEIVED AND REVIEWED A COPY OF THE FORM 990 PRIOR TO ITS FILING AND THE CFO SEPARATELY REVIEWS THE FORM 990 BEFORE IT IS FILED WITH IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION HAS ESTABLISHED A CODE OF BUSINESS ETHICS WHICH, AMONG OTHER THINGS, CONTAINS PROHIBITIONS OF CONFLICT OF INTEREST FOR ALL EMPLOYEES AS DETERMINED BY THE PRESIDENT, CEO, VICE PRESIDENT, GENERAL COUNSEL, AND THE CHAIRMAN OF THE BOARD OF DIRECTORS OF THE COMPANY. FORM 990, PART VI, SECTION B, LINE 15 THE ORGANIZATION REGULARLY EMPLOYS A SALARY CONSULTANT WHO COMPLETES A SURVEY OF COMPARABLE JOBS WITHIN THE INDUSTRY AND AREA, AND PREPARES SALARY RANGES FOR EACH POSITION IN THE COMPANY. THE BOARD, WITH MANAGEMENT RECOMMENDATION, THEN DETERMINES THE PERCENTILE IN WHICH IT WILL OPERATE WITHIN A SALARY RANGE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: NET EQUITY INCOME - SUBSIDIARY 3,141,622. AMORTIZATION ACCRUED PENSION BENEFIT OBLIGATION -23,172. FORM 990, PART XII, LINE 2C NO CHANGE FROM THE PRIOR YEAR. MULTI-COUNTY COMMUNICATIONS LLC 2243 EAST MAIN GREENFIELD IN 46140 320134999 TELECOMMUNICATION SERVICES IN RELATED 0 0 JOHNSON COUNTY FIBER NETWORK LLC 750 INTERNATIONAL DRIVE FRANKLIN IN 46131 461533898 TELECOMMUNICATION SERVICES IN RELATED 203385 937021 0 0 CENTRAL INDIANA COMMUNICATIONS INC 2243 EAST MAIN GREENFIELD IN 46140 351566736 TELECOMMUNICATION SERVICES IN C 22005515 101118402 0 CENTRAL INDIANA POWER INC 2243 EAST MAIN GREENFIELD IN 46140 274101168 ELECTRIC SERVICES IN C 65017 535462 0 CENTRAL INDIANA UTILITIES INC 2243 EAST MAIN GREENFIELD IN 46140 824538756 PAYROLL SERVICES IN C 294 21819 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 CENTRAL INDIANA COMMUNICATIONS INC A 657200 ACTUAL COST CENTRAL INDIANA COMMUNICATIONS INC R 505700 ACTUAL COST