2026-05-11T14:39:58-05:00 2025-12-31 610975454 CAMPBELL MYERS & RUTLEDGE PLLC 410 SOUTH BROADWAY GLASGOW KY 42141 990 2025-01-01 610189417 FARMERS RURAL ELECTRIC COOPERATIVE CORPORATION FARM 2706512191 504 SOUTH BROADWAY GLASGOW KY 42141 TOBIAS B MOSS PRESIDENT & CEO 2706512191 2026-04-14 1 ROBERT BRENT BILLINGSLEY P00527515 2706512163 2026-04-14 2025 2025-03-06 01:10:19Z TOBIAS B MOSS 504 SOUTH BROADWAY GLASGOW KY 42141 69924869 0 X WWW.FARMERSRECC.COM X 1938 KY THE COOPERATIVE IS A RURAL ELECTRIC DISTRIBUTION SYSTEM WITH A MISSION OF PROVIDING RELIABLE ELECTRIC SERVICE TO ITS MEMBER-OWNERS IN A COST EFFECTIVE MANNER. 7 4 70 0 5107577 529693 0 0 64641392 67872942 -8454 -4531 1156681 2056458 65789619 69924869 0 0 1696912 2800139 5308408 5880493 0 0 0 58784299 61244237 65789619 69924869 0 0 136750515 140328216 80716960 81526920 56033555 58801296 FARMERS RECC'S MISSION IS TO PROVIDE RELIABLE AND COMPETITIVELY PRICED ENERGY SERVICES THAT WILL ENHANCE THE QUALITY OF LIFE FOR OUR MEMBER-OWNERS AND COMMMUNITIES. 0 0 69924869 AS OF DECEMBER 31, 2025, THE COOPERATIVE DISTRIBUTED ELECTRICITY TO 26,901 CUSTOMERS. 69924869 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 22 0 1 70 0 1 1 0 0 0 0 0 0 62785351 7149518 0 0 0 X 7 4 0 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JENNIE PHELPS 2706512191 504 SOUTH BROADWAY GLASGOW KY 42141 PAUL HAWKINS SECRETART TREASURER 5.00 X X 14050 0 0 RONNIE SMITH DIRECTOR-RETIRED 3.00 0.00 X 13600 0 0 RANDY LONDON CHAIRMAN 3.00 X X 17950 0 0 CF MARTIN JR DIRECTOR-RETIRED 2.00 X 8600 0 0 CORNELIUS FAULKNER VICE CHAIRMAN 5.00 1.00 X X 14200 0 0 RANDY SEXTON DIRECTOR 4.00 7.00 X 14950 0 0 BRANDI WILLIAMS DIRECTOR 2.00 X 13900 0 0 DANIEL REYNOLDS DIRECTOR 2.00 X 1200 0 0 TOBIAS MOSS PRESIDENT & CEO 45.00 X 230209 0 77257 JENNIE PHELPS VICE PRESIDENT, FINANCE & 45.00 X 140939 0 43720 SCOTT LESTER VICE PRESIDENT, OPERATIONS 45.00 X 141930 0 64589 CHUCK BISHOP VICE PRESIDENT, ENGINEERIN 45.00 X 141376 0 65779 COREY JACKSON VICE PRESIDENT, MEMBER & C 45.00 X 129196 0 36119 STEVE MORRISON FEPP PLANT MANAGER 45.00 X 126508 0 64502 JASON RIGGS VICE PRESIDENT, TECHNOLOGY 45.00 X 120645 0 46132 1129253 0 398098 7 0 1 0 TOWNSEND TREE SERVICE PO BOX 7015 MUNCIE IN 47308 RIGHT OF WAY CLEARING 818160 WA KENDALL & COMPANY LLC 2736 MEADOW CHURCH RD DULUTH GA 30097 RIGHT OF WAY CLEARING 628412 GROVES ELECTRICAL SERVICES 3135 GRAPEVINE RD MADISONVILLE KY 42431 CONSTRUCTION OF ELECTRIC PLANT 621896 3 DISTRIBUTION OF ELECTRICITY 221000 62785351 62785351 DISTRIBUTION OF PROPANE 221000 5087591 5087591 67872942 -4531 17654 -22185 25749 0 25749 25749 25749 G&T CAPITAL CREDITS 221000 1911233 1911233 JOINT USE ATTACHMENTS 221000 211051 211051 NONOPERATING REVENUE 221000 -91575 -93907 2332 2030709 69924869 62691444 5107577 2125848 2800139 2800139 328659 328659 3105585 3105585 940319 940319 1110981 1110981 394949 394949 59310 59310 24600 24600 218188 218188 1054961 1054961 66864 66864 2558608 2558608 4184912 4184912 156416 156416 UNRELATED BUSINESS EXPE 4576965 4576965 PURCHASE OF POWER 44994962 44994962 RIGHT OF WAY CLEARING 1271241 1271241 OTHER DISTRIBUTION EXPE 1115177 1115177 962033 962033 69924869 69924869 0 0 2628721 1412797 5061329 5675654 1536833 1561758 356016 371281 135657362 43982400 88920580 91674962 36193094 37929082 320637 274832 1733305 1427850 136750515 140328216 7204903 7325013 70786338 71301622 2725719 2900285 80716960 81526920 X 597985 604250 0 0 55435570 58197046 56033555 58801296 136750515 140328216 X 0 2767741 X 0 1 X 1 0 135657362 43982400 91674962 91674962 2666478 C INVESTMENT IN ASSOCIATED ORGANIZATION 35262604 C 37929082 CUSTOMER DEPOSITS 1504370 OPEB 857709 CUSTOMER ADVANCES FOR CONSTRUCTION 494595 REGULATORY LIABILITY 43611 2900285 X 69924869 0 69924869 0 69924869 0 0 0 0 0 PART X, LINE 2: THE COOPERATIVE FOLLOWS THE RECOGNITION REQUIREMENTS FOR UNCERTAIN INCOME TAX POSITIONS AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. THE COOPERATIVE HAS NO TAX POSITION AT DECEMBER 31, 2020 FOR WHICH THE ULTIMATE DEDUCTIBILITY IS HIGHLY CERTAIN BUT FOR WHICH THERE IS UNCERTAINTY ABOUT THE TIMING OF SUCH DEDUCTIBILITY. THE COOPERATIVE'S POLICY IS TO CLASSIFY INCOME TAX RELATED INTEREST AND PENALTIES IN INTEREST EXPENSE AND OTHER EXPENSES, RESPECTIVELY. NO SUCH INTEREST OR PENALTIES WERE RECOGNIZED DURING THE PERIODS PRESENTED. THE COOPERATIVE FILES INCOME TAX RETURNS IN THE U.S. FEDERAL JURISDICTION, AND VARIOUS STATE AND LOCAL JURISDICTIONS. THE COOPERATIVE IS NO LONGER SUBJECT TO U.S. FEDERAL, STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2018. X X 0 0 0 TOBIAS MOSS PRESIDENT & CEO 230209 0 0 0 0 0 0 0 77257 0 307466 0 0 0 CHUCK BISHOP VICE PRESIDENT, ENGINEERIN 141376 0 0 0 0 0 0 0 65779 0 207155 0 0 0 SCOTT LESTER VICE PRESIDENT, OPERATIONS 141930 0 0 0 0 0 0 0 64589 0 206519 0 0 0 STEVE MORRISON FEPP PLANT MANAGER 126508 0 0 0 0 0 0 0 64502 0 191010 0 0 0 JENNIE PHELPS VICE PRESIDENT, FINANCE & 140939 0 0 0 0 0 0 0 43720 0 184659 0 0 0 JASON RIGGS VICE PRESIDENT, TECHNOLOGY 120645 0 0 0 0 0 0 0 46132 0 166777 0 0 0 COREY JACKSON VICE PRESIDENT, MEMBER & C 129196 0 0 0 0 0 0 0 36119 0 165315 0 0 0 PART I, LINE 3 THE BOARD OF DIRECTORS ANNUALLY APPRAISES THE PERFORMANCE OF THE PRESIDENT & CEO AND MAKES SALARY ADJUSTMENTS WITHIN AN ESTABLISHED SALARY RANGE FOR THE POSITION. THE BOARD REVIEWS THE APPROPRIATENESS OF THE SALARY ON A REGULAR BASIS WITH THE ASSISTANCE OF AN INDEPENDENT OUTSIDE CONSULTANT. TODD STEPHENS SON IN LAW OF BOARD CHAIR RANDY LONDON. 104396 SALARY 0 SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: THE COOPERATIVE ADOPTED A CONFLICT OF INTEREST POLICY IN 2017. FORM 990, PART VI, SECTION A, LINE 6 THE COOPERATIVE HAS MEMBERS. A MEMBERSHIP FEE IS REQUIRED TO ESTABLISH SERVICE. A MEMBER CAN HAVE MULTIPLE ELECTRIC SERVICES. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS OF THE GOVERNING BOARD ARE ELECTED. BALLOTS ARE MAILED TO EACH MEMBER TO BE COMPLETED. AN INDEPENDENT ACCOUNTING FIRM THEN COUNTS THE VOTES RECEIVED FROM THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 TAX RETURN IS REVIEWED BY EXECUTIVE OFFICERS AND THEN REVIEWED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12C THE COOPERATIVE HAS A CONFLICT OF INTEREST POLICY AND REQUIRES, ANNUALLY, ALL DIRECTORS, MANAGEMENT AND EMPLOYEES TO COMPLETE A WRITTEN ACKNOWLEDGMENT OF THE POLICY AND DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. THE ACKNOWLEDGMENTS ARE REVIEWED BY MANAGEMENT AND THE BOARD OF DIRECTORS TO CHECK FOR POLICY CONFLICTS THAT MAY NEED CORRECTIONS. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS ANNUALLY APPRAISES THE PERFORMANCE OF THE PRESIDENT & CEO AND MAKES SALARY ADJUSTMENTS WITHIN AN ESTABLISHED SALARY RANGE OF THE POSITION. THE BOARD REVIEWS THE APPROPRIATENESS OF THE SALARY ON A REGULAR BASIS WITH THE ASSISTANCE OF AN INDEPENDENT OUTSIDE CONSULTANT. LIKEWISE, THE PRESIDENT & CEO ADMINISTERS ALL SALARY ADJUSTMENTS FOR EMPOYEES WITHIIN ESTABLISHED SALARY RANGES FOR EACH POSITION. THE EMPLOYEES' WAGE AND BENEFIT PLAN IS REVIEWED REGUARLY BY THE BOARD OF DIRECTORS AND PRESIDENT & CEO, WITH THE ASSISTANCE OF AN INDEPENDENT CONSULTANT. POSITION DESCRIPTIONS COUPLED WITH PERFORMANCE CRITERIA AND RESULTS ARE THE DETERMINING FACTORS FOR PAYROLL ADJUSTMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE COOPERATIVE'S FINANCIAL STATEMENTS ARE INCLUDED IN AN ANNUAL REPORT THAT IS PUBLISHED IN A MAGAZINE THAT IS RECEIVED BY THE COOPERATIVE'S MEMBERS. THE ANNUAL REPORT IS ALSO PROVIDED TO ANYONE ATTENDING THE COOPERATIVE'S ANNUAL MEETING. GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, FORM 990, ETC...ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: REFUNDS OF CAPITAL CREDITS 294. MARGINS ALLOCATED TO MEMBERS 2,800,139. OTHER EQUITIES -32,692. FARMERS ENERGY PROPANE PLUS 175 DONNELLEY ST GLASGOW KY 42141 731523351 DISTRIBUTION OF PROPANE KY 5087591 4158853 FARMERS RURAL ELECTRIC COOPERATIVE CORPORATION