2025-10-30T14:50:45-07:00 2024-12-31 990 2024-01-01 314329510 UNION RURAL ELECTRIC CO-OP INC UNIO 9376421826 15461 US Highway 36 Marysville OH 43040 Daniel Meister CFO 9376421826 2025-10-03 1 2024 2025-03-06 01:10:19Z Anthony P Smith 15461 US Highway 36 Marysville OH 43040 65703836 0 X ure.com X 1936 OH Our mission is to make a difference in our community by delivering safe and reliable energy to our members at fair prices. 7 7 52 0 0 0 0 0 60893578 64270838 29442 61978 6010245 1354357 66933265 65687173 105743 106283 3289204 3248668 821921 813797 0 0 0 59273033 61519162 63489901 65687910 3443364 -737 115149437 120545250 55834802 60657573 59314635 59887677 Our mission is to make a difference in our community by delivering safe and reliable energy to our members at fair prices. 0 0 65687910 The cooperative distributes electricity and natural gas to its member/owners and also constructs and mantains facilities to carry out this purpose. Served approximately 12,000 members in the reporting year. 0 0 0 65687910 0 0 0 0 0 0 0 0 1 1 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 53 0 1 52 1 0 0 0 0 0 0 0 0 0 64824854 1905390 0 0 0 X 7 7 0 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 1 1 1 0 X X Daniel C Meister 9376421826 15461 US Highway 36 Marysville OH 43040 X Anthony P Smith President/CEO 45 0 X 280745 0 111114 David G Speicher VP Finance/CFO 45 0 X 186042 0 130176 Michael C Aquillo CXO 40 0 X 169979 0 101600 Matthew J Zarnosky COO 45 0 X 186268 0 82136 Sean T Luellen Crew Leader 44.89 0 X 135769 0 63990 Steve Lentz Director of Information Technology 45 0 X 132170 0 66783 Benjamin A Hoyer Crew Leader 45.81 0 X 132184 0 53578 David Thornton Trustee 3.11 0 X X 21070 0 0 Steve Patton Trustee, Chairman 3.13 0.74 X X 13275 0 0 Dale Scheiderer Trustee, Treasurer 3.28 0 X X 12975 0 0 Dan Westlake Trustee, Vice Chairman 2.67 0 X X 12975 0 0 Jeffrey Reinhard Trustee 3.27 0 X X 12675 0 0 Mark Lotcyz Trustee 2.72 0 X 12625 0 0 Jeffrey Wilson Trustee, Secretary 2.76 0 X 0 0 12600 Clifford Collins Trustee 5.29 0 X 7525 0 0 1316277 0 621977 22 1 1 0 Cooperative Building Solutions LLC PO Box 790379 St Louis MO 63179 Building Contractor 2321554 New River Electrical Corp 15 Cloverdale Place Cloverdale VA 24077 Electric Utility Construction 2272619 Rahrig Tree Co Inc 18678 CR 20 Forest OH 45843 Right-of-way Clearing 498322 National Information Solutions Co One Innovation Circle Lake St Louis MO 63367 Software Support 229838 GSP Networks 14059 State Route 38 Marysville OH 43040 Fiber Installation 148161 8 0 0 0 0 0 0 0 0 Electric Revenue 221000 62293794 62293794 0 0 Gas Revenue 221000 1639194 1639194 0 0 Pole Attachments 221000 162721 162721 0 0 Forfeited Discounts 221000 150214 150214 0 0 Other Electric Services 221000 10675 10675 0 0 14240 14240 0 0 64270838 25828 25828 0 0 0 0 0 0 0 0 0 0 0 0 0 36150 0 0 0 36150 36150 36150 0 0 0 15953 16663 -710 -710 0 0 Patronage Capital Credits 221000 1344304 1344304 0 0 Outside Electrical Services 221000 -157 -157 0 0 Chargepoint EV Charging 221000 104 104 0 0 10816 10816 0 0 1355067 65687173 65687173 0 0 X 98283 98283 8000 8000 3248668 3248668 813797 813797 2025553 2025553 0 0 3489654 3489654 0 0 Cost of Purchased Power 44319428 44319428 0 0 Distribution Expense-Operations 3658954 3658954 0 0 Distribution Expense-Maintenance 1816824 1816824 0 0 Administrative and General 3123377 3123377 0 0 3085372 3085372 0 0 65687910 65687910 0 0 293578 173768 85464 113802 5676076 6418321 3699219 3867482 273309 305183 119108258 39583029 74553568 79525229 30568223 30141465 115149437 120545250 8460132 9377779 2330458 1639907 39865425 44448895 3300000 3300000 1878787 1890992 55834802 60657573 X 0 0 1016463 1071407 58298172 58816270 59314635 59887677 115149437 120545250 X -737 0 0 0 0 573779 X 0 1 X 1 0 85465 30575 6698 8000 0 936 113802 57266 28650 7663 7500 0 614 85465 71421 1125 -7707 7000 0 573 57266 68796 900 8412 6000 0 687 71421 68375 200 5341 4500 0 620 68796 1 0 0 1 0 0 1250891 1250891 0 9819603 5645577 4174026 0 0 0 0 0 5685334 4778708 906626 0 102352430 29158744 73193686 79525229 0 C 0 C 0 Pat Cap Buckeye Power 26529446 C Pat Cap Cooperative Finance 1212853 C Homestead Funds 725610 C CFC Capital Term Certificates 540458 C Buckeye Power Association 416969 C Pat Cap Federated Rural Electric Insurance Exchange 223780 C Pat Cap United Utility Supply 322888 C Pat Cap National Information Solutions Cooperative 90191 C Pat Cap National Rural Telecommunications Cooperative 50106 C Pat Cap CoBank 22784 C Pat Cap Cooperative Response Center 6380 C 30141465 FAS 106 Accumulated Provision for Pension/Benefits 999295 Consumer Deposits 166087 Homestead Pension 725610 1890992 X 65687173 0 0 0 0 0 65687173 0 0 0 65687173 62439242 0 0 0 0 0 62439242 0 3248668 3248668 65687910 Schedule D, Part V, Line 4 The Cooperative has a scholarship fund that awards grants to high school seniors for the purpose of assisting with post-high school education funding. The fund was initially set up from the voluntary transfer of membership fees at the time the cooperative ceased to require membership fees. The funds are held in a trust managed by the cooperative and held by the Union County Foundation. Schedule D, Part X, Line 2 "The Cooperative presently discloses or recognizes income tax positions based on management's estimate of whether it is reasonably possible or probable, respectively, that a liability has been incurred for unrecognized income tax benefits. Interest and penalties would be recorded as operating expenses when they are incurred." Schedule D, Part XII, Line 4b Margins to be allocated in the subsequent year. 1 Community Foundation of Union County Inc 125 N Main St Marysville OH 43040 310628641 501(c)(3 27000 Contribution to youth scholarship fund housed at Community Foundation of Union County, Inc Union County Fair 845 North Main St Marysville OH 43040 314443901 501(c)(3) 10000 Capital campaign to build and improve buildings on the fairgrounds Union County Junior Fair care of Breeders World 6014 State Route 113 Bellevue OH 44811 273397989 501(c)(3) 7300 Grand total of winning bids of livestock and other fair projects by children and youth Richwood Junior Fair Livestock care of Richwood Bank 28 N Franklin St Richwood OH 43344 811103321 501(c)(3) 6069 Grand total of winning bids of livestock and other fair projects by children and youth Miscellaneous under 5000 dollars 47915 Misc Community Support 4 0 High school seniors whose parents are members of the cooperative are invited to apply for college scholarships that are funded by a trust managed by the cooperative and held at the Union County Foundation. Grants are awarded based on the student's application and an interview. 6 8000 Schedule I, Part I, Line 2 Grants are provided to local organizations that benefit, entertain, educate, and enrich the lives of the community. Grantees are required to submit an application describing the use of the funds. Being a small community, the cooperative is able to observe and interact with officials of the grantee organizations to monitor the use of grant funds. X 1 1 X X X 0 0 0 Anthony P Smith President/CEO 279631 0 0 0 1114 0 76537 0 38164 0 395446 0 David G Speicher VP Finance/CFO 169510 0 0 0 16532 0 95538 0 38681 0 320261 0 0 Michael C Aquillo CXO 136089 0 0 0 33890 0 66991 0 38618 0 275588 0 Matthew J Zarnosky COO 155768 0 0 0 30500 0 48227 0 38274 0 272769 0 Benjamin A Hoyer Crew Leader 121704 0 0 0 10481 0 17445 0 38826 0 188456 0 Sean T Luellen Crew Leader 121543 0 0 0 14226 0 32781 0 33978 0 202528 0 Steve Lentz Director of Information Technology 101670 0 0 0 30500 0 34599 0 35363 0 202132 0 Schedule J, Part I, Line 1a The Cooperative has a wellness program which allows all full-time employees to be reimbursed, once per calendar year, as a taxable fringe benefit, up to $300 paid toward the reimbursement at a health club or exercise facility or toward qualified exercise equipment Form 990, Part VI, Section A, Line 6 The cooperative has approximately 12,000 member/owners Form 990, Part VI, Section A, Line 7a Every member/owner has one vote for cooperative trustees. Each of the trustees serve 3 year terms and must live within a defined district. Once elected, trustees represent all member/owners, therefore member/owners are not limited to voting for the trustee representing only their district. Form 990, Part VI, Section A, Line 7b Elected trustees make decisions concerning governance of the cooperative on behalf of the member/owners. However a change to the bylaws is subject to a vote by the member/owners. Form 990, Part VI, Section B, Line 11b The Form 990 is distributed to the trustees in its entirety for their review. The form is then discussed at a regularly scheduled board meeting, after which corrections and/or adjustments are made if necessary. Form 990, Part VI, Section B, Line 12c The conflict of interest policy states that trustees and employees are required to discuss any potential conflict of interest issues with the CEO as they arise. Form 990, Part VI, Section B, Line 15 The wage and salary structure for all positions at the cooperative is compiled annually by an independent 3rd party contractor. The salary structure is then reviewed and approved by the board of trustees annually. Form 990, Part VI, Section C, Line 19 Code of Regulations and Articles of Incorporation are available to the public in the lobby of our office at 15461 US Highway 36, Marysville, Ohio. The conflict of interest policy is also available upon request. Audited financial statements are available for viewing on the cooperative's website under URL https://ure.com/wp-content/uploads/Financial-Statement-Full-report.pdf Form 990, Part VII, Section A, Line 1a Retired Trustee Thornton deferred a portion of his income during the years he served on the Cooperative's board. These amounts were reported in previous Form 990s in the years earned. The deferred income has been included as an asset of the cooperative as well as a liability. A portion of the amount reported in Part VII as reportable compensation to Trustee Thornton was paid out of his deferred compensation balance. Form 990, Part IX, Line 4 "Benefits paid to or for members" is for patronage dividends paid to members and is interpreted to mean current year margins to be allocated to members in the following year in accordance with the cooperative's bylaws. This is not an expense according to Generally Accepted Accounting Principles and was not recorded as an expense on the books of the cooperative in either the prior year or the current year. This is a reconciling item between book net income and tax net income on Schedule D, Part XII, Line 4b. Form 990, Part IX, Line 24a - 24d Many of the expenses listed on these lines have been spread over many expense accounts according to their function and are included in expenses categorized by function. Form 990, Part XI, Line 9 Other changes in net assets or fund balances include: 1)Margins to be allocated in the following year ($3,248,668 increase), 2) Capital Credit retirements ($2,759,981 decrease), 3) Capital credits forfeited back to the cooperative ($1,717 increase), 4) Escheat process ($56,637 increase), 5) Changes to Post Retirement Benefit Fund including actuarial gain ($1,600 decrease), 6)Youth scholarships paid out ($8,000 decrease), 7)Change in Equity of Scholarship Fund ($36,338 increase).