2023-10-03T15:46:25-07:00 2022-12-31 990 2022-01-01 314329510 UNION RURAL ELECTRIC COOPERATIVE INC UNIO 9376421826 15461 US Highway 36 Marysville OH 43040 David Speicher CFO 9376421826 2023-08-31 1 0 11 0 AAL2 X 2022 2023-04-26 12:10:37Z Anthony P Smith 15461 US Highway 36 Marysville OH 43040 63208155 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 51 0 0 0 0 0 59142997 60854003 56296 24446 1833505 2298092 61032798 63176541 78246 73101 3436734 3509544 822534 835249 0 0 0 56760448 58821510 61097962 63239404 -65164 -62863 107663886 111821827 53324459 56552570 54339427 55269257 Our mission is to make a difference in our community by delivering safe and reliable energy to our members at fair prices. 0 0 63239404 The cooperative distributes electricity and natural gas to its member/owners and also constructs and mantains facilities to carry out this purpose. Served approximately 11,000 members in the reporting year. 0 0 0 63239404 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 1 0 0 1 41 0 1 51 1 0 0 0 0 0 0 0 0 0 61857937 2438426 0 0 0 X 7 7 1 0 0 0 1 1 1 1 1 0 0 1 1 0 1 1 1 1 1 0 X X David G Speicher 9376421826 15461 US Highway 36 Marysville OH 43040 Anthony P Smith President/CEO 45 0 X 229320 0 230909 David G Speicher VP Finance/CFO 45 0 X 161645 0 125100 Michael C Aquillo CXO 40 0 X 158778 0 100489 Matthew J Zarnosky COO 45 0 X 161519 0 91538 Brian R Lewis Manager of Operations 45 0 X 129852 0 90317 Sean T Luellen Crew Leader 46 0 X 127595 0 67031 Benjamin A Hoyer Crew Leader 49.69 0 X 133535 0 57060 Dale Scheiderer Trustee, Treasurer 3.58 0 X X 14100 0 0 Jeffrey Wilson Trustee 3.28 0 X 0 0 14100 Steve Patton Trustee, Chairman 2.99 0.88 X X 13800 0 0 David Thornton Trustee 3.6 0 X 13500 0 0 Jeffrey Reinhard Trustee, Secretary 2.94 0 X X 12900 0 0 Dan Westlake Trustee, Vice Chairman 2.09 0 X X 12600 0 0 Mark Lotcyz Trustee 4.51 0 X 7275 0 0 1176419 0 776544 16 0 1 0 New River Electrical Corp 15 Cloverdale Place Cloverdale VA 24077 Electric Utility Construction 2007665 Kent Power Inc 7800 Childsdale Ave NE Rockford MI 49341 Substation Construction 1389289 Rahrig Tree Co Inc 18678 CR 20 Forest OH 45843 Right-of-way Clearing 511416 Aunalytics 128 W Columbus Ave Bellefontaine OH 43311 IT Services 283023 National Information Solutions Co One Innovation Circle Lake St Louis MO 63367 Software Support 206229 7 0 Electric Revenue 221000 58373086 58373086 0 0 Gas Revenue 221000 2196921 2196921 0 0 Forfeited Discounts 221000 131352 131352 0 0 Pole Attachment Revenue 221000 127284 127284 0 0 Other Electric Services 221000 5915 5915 0 0 19445 19445 0 0 60854003 21881 21881 0 0 0 0 0 0 0 0 0 0 0 0 0 2565 0 0 0 2565 2565 2565 0 0 31255 31614 -359 -359 0 0 Patronage Capital Credits 221000 2300062 2300062 0 0 Outside Electrical Service 221000 -1661 -1661 0 0 Chargepoint EV Charger 221000 50 50 0 0 0 0 0 0 2298451 63176541 63176541 0 0 X 66101 66101 7000 7000 3509544 3509544 835249 835249 1626059 1626059 0 0 0 0 0 0 3105311 3105311 0 0 0 0 0 0 Cost of Purchased Power 43470635 43470635 0 0 Distribution Expense - Operations 3240907 3240907 0 0 Distribution Expense - Maintenance 1670145 1670145 0 0 Administrative and General 2683817 2683817 0 0 3024636 3024636 0 0 63239404 63239404 0 0 225792 288697 71421 57266 5411004 5594878 2822359 3281872 416318 365452 106698883 34301236 68776731 72397647 29940261 29836015 107663886 111821827 7777590 8046633 2647462 2490875 40792640 40413408 3800000 2106767 1801654 53324459 56552570 X 0 0 893047 959966 53446380 54309291 54339427 55269257 107663886 111821827 X -62863 0 0 0 0 992693 X 0 1 X 1 0 71421 1125 -7707 7000 0 573 57266 68796 900 8412 6000 0 687 71421 68375 200 5341 4500 0 620 68796 60997 1900 10626 4500 0 648 68375 64045 6150 -3083 5500 0 615 60997 1 0 0 1 0 0 1245234 1245234 0 9634972 5092985 4541987 0 0 0 0 0 5193441 4282231 911210 0 90625236 24926020 65699216 72397647 Pat Cap Buckeye Power 26528442 C Pat Cap Cooperative Finance Corporation 1160747 C Homestead Funds 641199 C CFC Capital Term Certificates 550825 C Buckeye Power Association 416969 C Pat Cap Federated Rural Electric Insurance Exchange 215222 C Pat Cap United Utility Supply 160240 C Pat Cap National Information Solutions Cooperative 86860 C Pat Cap National Rural Telecommunications Cooperative 58146 C Pat Cap CoBank 11474 C Pat Cap Cooperative Response Center 5891 C 29836015 FAS 106 Accumulated Provision for Pension/Benefit 984403 Consumer Deposits 176052 Homestead Pension 641199 1801654 X 63176541 0 0 0 0 0 63176541 0 0 0 63176541 59729860 0 0 0 0 0 59729860 0 3509544 3509544 63239404 Schedule D, Part V, Line 4 The cooperative has a scholarship fund that awards grants to high school seniors for the purposes of assisting with post-high school educational 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 Union County Fair 845 North Main Street Marysville OH 43040 314443901 501(c)(3) 10000 Jr. Fair Renovation Campaign Capital campaign to build and improve buildings on the fair grounds. Union County Junior Fair c/o Richwood Bank 28 N Franklin St Richwood OH 43344 273397989 501(c)(3) 5992 Junior Fair Livestock Sale Grand total of winning bids of livestock and other fair projects by children and youth. Miscellaneous Under 5000 Dollars 50109 Misc. Community Support 2 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. 5 7000 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 229320 0 0 0 0 0 239380 0 34467 0 503167 0 0 0 David G Speicher VP Finance/CFO 147253 0 0 0 14392 0 95201 0 33453 0 290299 0 0 0 Michael C Aquillo CXO 136330 0 0 0 22448 0 75618 0 28423 0 262819 0 0 0 Matthew J Zarnosky COO 134519 0 0 0 27000 0 62367 0 32973 0 256859 0 0 0 Brian R Lewis Manager of Operations 123400 0 0 0 6451 0 62165 0 31075 0 223091 0 0 0 Sean T Luellen Crew Leader 114805 0 0 0 12790 0 39660 0 29794 0 197049 0 0 0 Benjamin A Hoyer Crew Leader 113035 0 0 0 20500 0 23639 0 35678 0 192852 0 0 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 home exercise equipment. Form 990, Part VI, Section A, Line 2 Trustee Reinhard and Trustee Westlake each have auction businesses that operate independently of each other. Trustee Scheiderer occasionally clerks at auctions of each of the two auctioneers. Form 990, Part VI, Section A, Line 6 The cooperative has approximately 11,000 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/2022-Union-Rural-Electric-Cooperative-Inc-FS.pdf 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 6 Line 23 - 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 in Part IX, Line 24. Form 990, Part XI, Line 9 "Other changes in net assets or fund balances" includes: 1) Margins to be allocated to members in the following year ($3,509,544 increase), 2) Capital Credit Retirements ($2,737,894 decrease), 3) Capital Credits forfeited back to the cooperative ($3,129 increase), 4) Escheat Process ($65,189 increase), 5) Changes to Postretirement Benefit Fund including Actuarial Gain ($166,881 increase), 6)Youth Scholarships paid out ($7,000 decrease), and 7) Change in Equity of Scholarship Fund ($7,156 decrease). Security Plus Inc 15461 US Highway 36 Marysville OH 43040 311634906 Inactive OH N/A C 100 100 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 Schedule R, Part IV Security Plus Inc is a wholly owned subsidiary of the cooperative. In the past, this entity engaged in sales of power quality equipment, sales of security systems, and has been an internet service provider (ISP). Since 12/31/2008, the subsidiary has been dormant.