2025-11-15T18:38:56+00:00 2024-12-31 135381590 BDO USA 8401 GREENSBORO DR STE 800 MCLEAN VA 221023599 990 2024-01-01 842724646 NRECA RESEARCH NREC 7039075960 4301 WILSON BLVD ARLINGTON VA 22203 JAMES MATHESON CEO 2025-11-16 true TODD TERESCO P00247720 7038930600 2025-11-16 2024 2025-03-06 01:10:19Z JAMES MATHESON 4301 WILSON BLVD ARLINGTON VA 22203 11429821 false X N/A X 2019 VA THE MISSION OF NRECA RESEARCH IS TO ENGAGE IN PRIVATELY FUNDED SCIENTIFIC RESEARCH ACTIVITIES FOCUSED ON SUPPORTING, SUSTAINING AND IMPROVING THE ELECTRICAL GRID OF THE FUTURE. 3 0 0 0 0 4233604 3638757 7250819 7802322 7369 -11258 0 11491792 11429821 0 0 3917508 3645098 0 0 7581325 7767484 11498833 11412582 -7041 17239 2878365 2854165 2878365 2854165 0 0 X THE MISSION OF NRECA RESEARCH IS TO ENGAGE IN PRIVATELY FUNDED SCIENTIFIC RESEARCH ACTIVITIES FOCUSED ON SUPPORTING, SUSTAINING, AND IMPROVING THE ELECTRICAL GRID OF THE FUTURE. false false 3510027 2413430 RESEARCH ACTIVITIES FOCUSED ON IMPROVING COOPERATIVES CYBERSECURITY DEFENSIVE MEASURES TO PROTECT THEIR COOPERATIVE AND ELECTRICAL INFRASTRUCTURE FROM CYBER ATTACKS AND OTHER MALICIOUS ACTIVITIES. 3024431 3024431 RESEARCH ACTIVITIES FOCUSED ON IMPROVING MEMBER OUTREACH AND STRATEGIC INITIATIVES 2445040 818554 RESEARCH ACTIVITIES FOCUSED ON IMPROVING DATA ANALYTICS, GRID RESILENCY AND RELIABILITY 1129305 596641 RESEARCH ACTIVITIES FOCUSED ON RENEWABLE AND DISTRIBUTED GENERATION 634346 346047 RESEARCH ACTIVITIES FOCUSED ON MEMBER RESOURCE ADEQUACY PROGRAMS. 450237 355527 RESEARCH ACTIVITIES FOCUSED ON GENERATION, ENVIRONMENT AND CARBON 111700 111700 RESEARCH ACTIVITIES FOCUSED ON TRANSMISSION AND DISTRIBUTION OF ELECTRICITY 37038 135992 OTHER RESEARCH ACTIVITIES 2362626 1545907 11342124 true true false false false false false false false false true false false false true true false true false false false false false false false false false false false true false false false false false false false false false false false false false false false true false false true false true 0 0 0 false false false false false false false false false false false false X 3 0 true false false false false true true true true false false false true true true true true true true true false false VA X X DIGNA LOUIS 7039075985 4301 WILSON BLVD ARLINGTON VA 22203 DIGNA LOUIS SECRETERY/TREASURER 1.1 45.9 X X 0 674553 128430 JEFFREY CONNOR CHIEFT OPERATING OFFICER 0.2 48.8 X X 0 851814 118470 JIM MATHESON PRESIDENT, CEO 0.2 48.8 X X 0 2946380 630092 ANGELA STRICKLAND VICE PRESIDENT 13.4 37.6 X 0 462098 130317 JESSICA HEALY ASST. SECRETARY 0.2 45.8 X 0 269007 43390 CARTER MANUCY SR. DIRECTOR, CYBERSECURITY 28.9 11.6 X 0 230859 75004 ACHOL DENG Principal Program Manager 34.4 6.1 X 0 210928 26705 DAVID PINNEY Principal Analytical Tools & Software Products 30.9 9.5 X 0 220308 46847 JUSTIN LUEBBERT Sr. Manager, Cybersecurity 31.8 8.5 X 0 210736 82203 LAUREN KHAIR Sr. Director, Energy Research & Resilence 30.2 10.1 X 0 209228 42396 RYAN NEWLON Principal Cyber Security Solution 29.6 10.7 X 0 207880 77546 0 6493791 1401400 0 false true false 0 3638757 3638757 MEMBER OUTREACH AND STRATEGIC INITIATIVES 541900 3024431 3024431 CYBERSECURITY PROGRAMS 541900 2413430 2413430 ANALYTICS, RESILIENCY, RELIABILITY 541900 818554 818554 RENEWABLE AND DISTRIBUTED GENERATATION 541900 596641 596641 GENERATION, ENVIRONMENT AND CARBON 541900 355527 355527 593739 593739 0 0 7802322 0 0 0 0 -11258 -11258 0 -11258 -11258 0 0 0 0 0 11429821 7802322 0 -11258 X 2760970 2453242 307728 884128 730513 153615 1229 1229 20746 20746 4266428 4135586 130842 0 15450 1880 13570 428314 428314 197910 0 197910 369306 343976 25330 429650 429304 346 17813 17813 25234 302 24932 20912 2132 18780 G&A ALLOCATED COSTS 1814761 0 1814761 ELEC & SOFTWARE SUBSCRIPTIONS 390707 386138 4569 EQUIPMENT & MATERIALS 72610 55530 17080 OTHER OPERATING EXPENSES 34596 -5482 40078 -338182 2809003 -3147185 0 11412582 11342124 70458 0 2855134 2847187 0 0 0 0 264937 257959 23231 6978 0 0 0 0 2878365 2854165 165025 95381 0 0 2713340 2758784 2878365 2854165 X 0 0 0 0 2878365 2854165 17239 -17239 0 0 X false true true true true X 4795103 5903194 3502613 4297041 3638757 22136708 0 0 4795103 5903194 3502613 4297041 3638757 22136708 0 22136708 9710 1515 0 16958 0 28183 0 0 0 0 0 0 0 22164891 35561272 0.99873 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 77098 77098 0 187839 180861 6978 6978 Federal Income Taxes INTERCOMPANY PAYABLE - DUE TO NRECA 2724378 POSTRETIREMENT BENEFIT OBLIGATION 34406 2758784 X 0 0 0 0 0 0 0 0 0 0 0 0 Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote NRECA RESEARCH, WHICH CONSOLIDATES TO THE NRECA ASSOCIATION FOR FINANCIAL REPORTING, HAS ADOPTED THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE ASSOCIATION MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ALSO ADDRESSES DE-RECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES ON INCOME TAXES, AND ACCOUNTING IN INTERIM PERIODS. THE ASSOCIATION HAS ANALYZED ITS TAX POSITIONS TAKEN ON TAX RETURNS FOR ALL OPEN TAX YEARS AND HAS CONCLUDED THAT NO ADDITIONAL PROVISION OR BENEFIT EXISTS. THE ASSOCIATION IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2021. X true true X X X X false true false false false false false false false JEFFREY CONNOR CHIEFT OPERATING OFFICER 0 659376 0 175200 0 17238 0 73483 0 44987 0 970284 0 0 DIGNA LOUIS SECRETERY/TREASURER 0 572592 0 89220 0 12741 0 78158 0 50272 0 802983 0 0 JIM MATHESON PRESIDENT, CEO 0 1580002 0 996101 0 370277 0 581572 0 48520 0 3576472 0 0 JESSICA HEALY ASST. SECRETARY 0 258994 0 5825 0 4188 0 40608 0 2782 0 312397 0 0 ANGELA STRICKLAND VICE PRESIDENT 0 392371 0 61100 0 8627 0 86231 0 44086 0 592415 0 0 CARTER MANUCY SR. DIRECTOR, CYBERSECURITY 0 224859 0 4775 0 1225 0 30771 0 44233 0 305863 0 0 ACHOL DENG Principal Program Manager 0 205664 0 4600 0 664 0 6839 0 19866 0 237633 0 0 LAUREN KHAIR Sr. Director, Energy Research & Resilence 0 202671 0 6125 0 432 0 24591 0 17805 0 251624 0 0 JUSTIN LUEBBERT Sr. Manager, Cybersecurity 0 201560 0 8400 0 776 0 40892 0 41311 0 292939 0 0 RYAN NEWLON Principal Cyber Security Solution 0 199361 0 7750 0 769 0 34067 0 43479 0 285426 0 0 DAVID PINNEY Principal Analytical Tools & Software Products 0 216665 0 3225 0 418 0 29077 0 17770 0 267155 0 0 Schedule J, Part I, Line 1a Tax indemnification and gross-up payments 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. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan THE FOLLOWING CURRENT OFFICERS RECEIVED PAYMENTS OR HAVE DEFERRED COMPENSATION FROM AN EXECUTIVE NONQUALIFIED RETIREMENT PLAN. THE AMOUNTS ARE INCLUDED AND REPORTED IN PART II, COLUMN B AND C ACCORDINGLY: JAMES MATHESON ($287,866) Form 990, Part III, Line 4d Description of other program services (Expenses $ 1,129,305 including grants of $)(Revenue $ 596,641) RESEARCH ACTIVITIES FOCUSED ON RENEWABLE AND DISTRIBUTED GENERATION Form 990, Part III, Line 4d Description of other program services (Expenses $ 634,346 including grants of $)(Revenue $ 346,047) RESEARCH ACTIVITIES FOCUSED ON MEMBER RESOURCE ADEQUACY PROGRAMS. Form 990, Part III, Line 4d Description of other program services (Expenses $ 450,237 including grants of $)(Revenue $ 355,527) RESEARCH ACTIVITIES FOCUSED ON GENERATION, ENVIRONMENT AND CARBON Form 990, Part III, Line 4d Description of other program services (Expenses $ 111,700 including grants of $)(Revenue $ 111,700) RESEARCH ACTIVITIES FOCUSED ON TRANSMISSION AND DISTRIBUTION OF ELECTRICITY Form 990, Part III, Line 4d Description of other program services (Expenses $ 37,038 including grants of $)(Revenue $ 135,992) OTHER RESEARCH ACTIVITIES Form 990, Part VI, Line 2 SEVERAL NRECA RESEARCH OFFICERS AND DIRECTORS ALSO SERVE AS OFFICERS AND/OR DIRECTORS OF THE FOLLOWING NRECA SUBSIDIARIES AND AFFILIATED ENTITIES: NRECA UNITED, INC. (3 OFFICERS- JIM MATHESON, JEFFREY CONNOR AND DIGNA LOUIS); COOPERATIVE ENERGY SERVICES, INC. (3 OFFICERS JIM MATHESON, JEFFREY CONNOR AND DIGNA LOUIS); RE ADVISORS CORP. (1 OFFICERJEFFREY CONNOR); RE INVESTMENT CORP. (1 OFFICER- JEFFREY CONNOR); COOPERATIVE BENEFIT ADMINISTRATORS, INC. (1 OFFICER- DIGNA LOUIS); ELECTRIC COOPERATIVE LIFE INSURANCE COMPANY (2 OFFICERS- JEFFREY CONNOR AND DIGNA LOUIS); COOPERATIVE INSURANCE SERVICES, INC.(1 OFFICER- DIGNA LOUIS), NRECA INTERNATIONAL (4 OFFICERS- JIM MATHESON, JEFFREY CONNOR, DIGNA LOUIS AND JESSICA HEALY) AND NRECA WOOD QUALITY CONTROL, INC (2 OFFICERS- JEFFREY CONNOR AND DIGNA LOUIS). Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE NRECA RESEARCH BOARD OF DIRECTORS IS APPOINTED BY THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION (NRECA) BOARD OF DIRECTORS, WHICH AT ANY NRECA BOARD MEETING, THE NRECA BOARD MAY REMOVE ANY ELECTED DIRECTOR FROM OFFICE AND ELECT A SUCCESSOR TO FILL THE RESULTING VACANCY FOR THE UNEXPIRED TERM. Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders WHILE THE NRECA RESEARCH BOARD OF DIRECTORS (GOVERNING BODY) IS APPOINTED BY THE NATIONAL RURAL ELECTRIC COOPERATIVE ASSOCIATION(NRECA) BOARD OF DIRECTORS, THE MAIN NRECA BOARD OF DIRECTORS ALSO HAS DECISION MAKING ABILITIES OVER THE NRECA RESEARCH BOARD GIVEN THE NRECA RESEARCH ENTITY IS A PART OF NRECA CONSOLIDATED ACTIVITIES, WHICH ARE CONTROLLED BY THE NRECA BOARD OF DIRECTORS. Form 990, Part VI, Line 11b Review of form 990 by governing body THE 2024 NRECA RESEARCH IRS FORM 990 SUPPORT DATA WAS PREPARED BY THE MANAGER OF ACCOUNTING IN THE FINANCE-GRANTS & CONTRACTS DEPARTMENT. THIS SUPPORT DATA WAS THEN PROVIDED TO AN OUTSIDE TAX ACCOUNTING FIRM, VIA THEIR TAX ORGANIZER, WHO THEN PREPARED THE 2024 FORM 990 AND SCHEDULES. THEREAFTER, ANY QUESTIONS OR ADDITIONAL INFORMATION REQUESTED BY THE TAX ACCOUNTING FIRM WERE PROVIDED. ONCE COMPLETED, THE PREPARED FORM 990 WAS RETURNED TO THE MANAGER OF ACCOUNTING FOR A DETAILED REVIEW FOR ACCURACY. TO FINALIZE, THE DIRECTOR OF GENERAL ACCOUNTING & ADMIN. PERFORMED A CURSORY REVIEW BEFORE PROVIDING THE 990 RETURN TO THE NRECA CHIEF FINANICAL OFFICER/NRECA RESEARCH SECRETARY/TREASURER FOR HER REVIEW AND SIGNATURE ON THE 990. THE APPROVED AND SIGNED 990 IS THEN RETURNED TO THE OUTSIDE TAX ACCOUNTING FIRM FOR FINAL REVIEW AND ELECTRONIC FILING TO THE IRS. THE COMPLETED 2024 FORM 990 WAS MADE AVAILABLE TO THE NRECA RESEARCH'S BOARD OF DIRECTORS. Form 990, Part VI, Line 12c Conflict of interest policy EACH DIRECTOR AND OFFICER IS REQUIRED TO COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE THAT IS DISTRIBUTED FROM NRECA. THIS IS THEN REVIEWED BY SENIOR STAFF AND THE CORPORATE LEGAL COUNSEL OFFICE AT NRECA AND ANY CONFLICTS ARE FOLLOWED-UP BY NRECA CORPORATE LEGAL COUNSEL WITH THE RESPECTIVE DIRECTOR OR OFFICER TO RESOLVE. Form 990, Part VI, Line 15a Process to establish compensation of top management official CEO COMPENSATION: THE NRECA CEO EVALUATION COMMITTEE OF THE BOARD OF DIRECTORS IS RESPONSIBLE FOR EVALUATING THE PERFORMANCE OF THE CEO, AN OUTSIDE CONSULTANT ANNUALLY REVIEWS INDEPENDENT COMPENSATION STUDIES TO VERIFY THE NRECA CEO'S COMPENSATION IS WITHIN A COMPETITIVE RANGE FOR CEO'S OF COMPARABLE ORGANIZATIONS. THIS INFORMATION IS THEN SHARED WITH THE NRECA CEO EVALUATION COMMITTEE WHICH THEN DEVELOPS THE SALARY (AND ANY RECOMMENDED ANNUAL INCREASES) THAT IS PRESENTED TO THE FULL NRECA BOARD OF DIRECTORS FOR REVIEW AND APPROVAL ANNUALLY. OFFICERS & KEY EMPLOYEES COMPENSATION: NRECA'S HUMAN RESOURCES DEPARTMENT HAS A MARKET PAY TOOL THAT UTILIZES CURRENT SALARY DATA FROM PURCHASED COMPENSATION STUDIES TO ANALYZE SALARIES FOR POSITIONS WITHIN THE NRECA ORGANIZATION. NRECA HAS WRITTEN POLICIES AND PROCEDURES GOVERNING ITS' SALARY INCREASE PROCESS. THE SALARY INCREASE PROCESS IS INTENDED TO ENABLE MANAGERS TO MAKE RATIONAL DECISIONS CONCERNING SALARY INCREASES WITHIN THE ASSOCIATION'S BUDGETING CONSTRAINTS. YET, IT DOES NOT GUARANTEE A SALARY INCREASE TO ANY EMPLOYEE. THE SALARY INCREASE PROCESS FOLLOWS THESE STEPS: 1. APPROVAL OF NRECA'S BUDGETED SALARY INCREASE BY THE NRECA BOARD OF DIRECTORS; 2. COMPLETION OF A WRITTEN ANNUAL PERFORMANCE SUMMARY FOR EACH EMPLOYEE BY HIS/HER MANAGER; 3. RECOMMENDATION OF MERIT INCREASES FOR INDIVIDUAL EMPLOYEES BASED ON PERFORMANCE; 4. ANALYSIS, REVIEW AND APPROVAL OF SALARY INCREASE RECOMMENDATIONS BY THE HUMAN RESOURCES AND CHIEF EXECUTIVE OFFICE; 5. COMMUNICATION OF THE SALARY INCREASE TO EACH INDIVIDUAL STAFF MEMBER BY HIS/HER MANAGER. Form 990, Part VI, Line 18 How forms are made available to the public NRECA RESEARCH, WHICH IS PART OF THE NRECA ASSOCIATION CONSOLIDATED FINANCIAL STATEMENTS, DISTRIBUTES ITS' ANNUAL AUDITED FINANCIAL STATEMENTS TO THE NRECA BOARD OF DIRECTORS. ADDITIONALLY, NRECA RESEARCH PROVIDES COPIES OF ITS' AUDITED FINANCIAL STATEMENTS AND FORM 990 TAX RETURN UPON REQUEST. Form 990, Part VI, Line 19 Required documents available to the public NRECA RESEARCH, WHICH IS PART OF THE NRECA ASSOCIATION CONSOLIDATED FINANCIAL STATEMENTS, DISTRIBUTES ITS' ANNUAL AUDITED FINANCIAL STATEMENTS TO THE NRECA BOARD OF DIRECTORS. ADDITIONALLY, NRECA RESEARCH PROVIDES COPIES OF ITS' AUDITED FINANCIAL STATEMENTS, GOVERNANCE DOCUMENTS AND FORM 990 TAX RETURN UPON REQUEST. Form 990, Part VIII, Line 2f Other Program Service Revenue RESOURCE ADEQUACY AND MARKETS - Total Revenue: 346047, Related or Exempt Function Revenue: 346047, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; TRANSMISSION & DISTRIBUTION - Total Revenue: 111700, Related or Exempt Function Revenue: 111700, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; ALL OTHER PROGRAMS - Total Revenue: 135992, Related or Exempt Function Revenue: 135992, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part IX, Line 11g Other Fees SUBCONTRACTS - Total Expense: 2202262, Program Service Expense: 2202262, Management and General Expenses: , Fundraising Expenses: ; CONSULTING FEES - Total Expense: 1480859, Program Service Expense: 1437215, Management and General Expenses: 43644, Fundraising Expenses: ; EDITORIAL & WRITING FEES - Total Expense: 51281, Program Service Expense: 51281, Management and General Expenses: , Fundraising Expenses: ; CONTRACTED PERSONNEL - Total Expense: 117658, Program Service Expense: 31450, Management and General Expenses: 86208, Fundraising Expenses: ; SUBRECIPIENTS - Total Expense: 384878, Program Service Expense: 384878, Management and General Expenses: , Fundraising Expenses: ; SPEAKER FEES - Total Expense: 28500, Program Service Expense: 28500, Management and General Expenses: , Fundraising Expenses: ; OTHER PROFESSIONAL FEES - Total Expense: 990, Program Service Expense: , Management and General Expenses: 990, Fundraising Expenses: ; NAT'L RURAL ELECTRIC COOPERATIVE ASSOC 4301 WILSON BLVD ARLINGTON VA 22203 530116145 SERVICE ORG VA 501(c)(6) NA false NRECA INTERNATIONAL 4301 WILSON BLVD ARLINGTON VA 22203 521387851 INTERNATIONAL RURAL ELECTRIFICATION VA 501(c)(3) 7 NRECA false GLENN ENGLISH NAT'L LEADERSHIP COOP FDN 4301 WILSON BLVD ARLINGTON VA 22203 461424031 AWARDING OF SCHOLARSHIPS VA 501(c)(3) Type I NRECA false NRECA WOOD QUALITY CONTROL INC 4301 WILSON BLVD ARLINGTON VA 22203 521446660 WOOD POLE TESTING VA 501(c)(6) NRECA false COOPERATIVE INSURANCE SERVICES 4301 WILSON BLVD ARLINGTON VA 22203 521076274 INSURANCE AGENT VA NRECA UNITED INC C Corporation 0 0 0 false NRECA UNITED HOLDINGS 4301 WILSON BLVD ARLINGTON VA 22203 860262046 LIFE & HOSPITALIZATION INSURANCE VA NRECA UNITED INC C Corporation 0 0 0 false COOPERATIVE BENEFIT ADMINISTRATORS 4301 WILSON BLVD ARLINGTON VA 22203 521327041 CLAIMS ADMINISTRATOR VA NRECA UNITED INC C Corporation 0 0 0 false COOPERATING ENERGY SERVICES 4301 WILSON BLVD ARLINGTON VA 22203 521490710 SOFTWARE INTEGRATION DEVELOPMENT VA NRECA UNITED INC C Corporation 0 0 0 false HOMESTEAD FINANCIAL SERVICES CORP 4301 WILSON BLVD ARLINGTON VA 22203 521679315 INVESTMENT BROKER VA NRECA UNITED INC C Corporation 0 0 0 false HOMESTEAD ADVISERS CORP 4301 WILSON BLVD ARLINGTON VA 22203 521694000 INVESTMENT ADVISER VA RE INVESTMENT CORPORATION C Corporation 0 0 0 false false false false false false false false false false false false false true true true true false false false NAT'L RURAL ELECTRIC COOPERATIVE ASSOCIATION M 1663162 ACC. RECORDS NAT'L RURAL ELECTRIC COOPERATIVE ASSOCIATION N 197909 ACC. RECORDS NAT'L RURAL ELECTRIC COOPERATIVE ASSOCIATION O 3136336 ACC. RECORDS NAT'L RURAL ELECTRIC COOPERATIVE ASSOCIATION P 2481823 ACC. RECORDS