NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION Charity Report

Public IRS 990 nonprofit record

NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORPORATION

EIN 52-0891669 · Telecommunications (W50)

What they do

to BRIDGE THE FINANCIAL NEEDS of THE RURAL ELECTRIC NETWORK WITH THE EXPECTATIONS of THE GLOBAL CAPITAL MARKETS, ONE COOPERATIVE AT A TIME.

Before you give

Should I give to this charity?

Easy charity check

Look at where the money went

Of every $100 spent, about $91.90 was reported for mission work. Use the spending picture below and ask what results that work produced.

Plain answer: A tax form cannot prove that a charity is doing good. It can show how the charity says it spent its money—and point out questions you should ask.

Basic facts we verified

IRS warning checkNo IRS revocation warning appears in this data.

Money report from 2024The charity has a recent tax report to read.

They explain their jobThe charity tells us what it is trying to do.

They name their leaders47 people are listed in the latest report.

You can reach themThey list contact information, so you can ask questions.

Money made simple

81.44%of revenue went to mission work91.9% of expenses · Program services

$88.65spent for every $100 of revenueRevenue covered expenses this year.

7.20%of revenue went to management and office costs8.1% of expenses

$20.86in assets for every $1 spent this yearSome assets cannot be spent right away.

Ask these three easy questions

Who did you help? Ask for a recent story or report that shows real results.
What will my money do? Ask exactly what your gift will pay for.
Is this really the charity? Give only through its official website or confirmed phone number.

Pay context: The highest compensation shown in this filing is $2,821,260 for JONATHAN ANDREW DON (CEO). Compare pay with organizations of similar size and complexity.

Bottom line: Do not decide from a name, mission statement, or tax status alone. Look at where the money went, then ask what changed, who was helped, and what your gift will do. YouCanGiveBack does not endorse or grade organizations.

Money

Financial picture

Tax year 2024

A plain-language look at the latest Form 990 figures available. These numbers help you ask better questions; they do not, by themselves, rate whether a charity is good or bad.

$100revenue

How each $100 of revenue was used

The large number compares each expense with revenue. The smaller number shows its share of total expenses.

Total reported revenue$2,071,222,273

Mission workProgram services$1,686,835,98181.44% of revenue91.9% of expenses

ManagementOffice and general costs$149,199,6627.20% of revenue8.1% of expenses

FundraisingAsking for donations0.00% of revenue0.0% of expenses

Revenue left after expensesReported annual surplus$235,186,63011.35% of revenueShown in gray on the chart

Total expenses$1,836,035,64388.65% of revenue

Gray means reported revenue left after expenses for this filing year. It does not necessarily mean cash sitting in a bank account.

Has the pattern changed?

Colored bars = expense mix: how each year’s expenses were divided. Total expenses vs. revenue shows whether the charity spent less or more than it received. The current filing is first.

YearExpense mixDetails

2024CurrentExpense mix: 91.9% mission · 8.1% management · 0.0% fundraisingTotal expenses: 88.65% of revenue

2023Expense mix: 92.8% mission · 7.2% management · 0.0% fundraisingTotal expenses: 86.39% of revenue

2022Expense mix: 92.2% mission · 7.8% management · 0.0% fundraisingTotal expenses: 84.54% of revenue

2021Expense mix: 90.4% mission · 9.6% management · 0.0% fundraisingTotal expenses: 78.40% of revenue

2020Expense mix: 88.1% mission · 11.9% management · 0.0% fundraisingTotal expenses: 84.39% of revenue

2019Expense mix: 89.1% mission · 10.9% management · 0.0% fundraisingTotal expenses: 89.92% of revenue

2018Expense mix: 92.7% mission · 7.3% management · 0.0% fundraisingTotal expenses: 88.03% of revenue

2017Expense mix: 92.2% mission · 7.8% management · 0.0% fundraisingTotal expenses: 88.35% of revenue

Money in and money out

Revenue$2,071,222,273

Expenses$1,836,035,643

Annual surplus $235,186,630 Revenue was higher than expenses for this filing year.

Reported spending amounts

Mission work means the Form 990 category called program services. These are reported accounting categories—not an independent measurement of results.

Mission work (program services)$1,686,835,981 · 91.9% of expenses

Management and office costs$149,199,662 · 8.1% of expenses

See all reported dollar amounts

Revenue$2,071,222,273

Expenses$1,836,035,643

Assets$38,295,081,990

Income$2,187,984,733

Mission work (program services)$1,686,835,981

Grants given$12,173,106

Average grant$29,475

Management and general$149,199,662

Stocks and bonds$124,915,007

Accounting fees$1,853,113

Investing fees$295,546

People

Leadership and board

Tax year 2024

Names, titles, time, and compensation below are reported by the organization on its Form 990.

People reported as paid

Person and titleCompensation

JONATHAN ANDREW DONCEO · 70 hrs/week $2,821,260Base $2,551,220 · Other $270,040

BRAD CAPTAINSVP & CHIEF CORPORATE AFFAIRS OFFICER · 55 hrs/week $1,132,438Base $603,563 · Other $528,875

JOEL ALLENSVP AND CHIEF BANKING OFFICER · 55 hrs/week $978,023Base $673,366 · Other $304,657

YU LING WANGSVP & CFO · 65 hrs/week $863,021Base $650,311 · Other $212,710

GARY A BRADBURYSVP & CHIEF OPERATING OFFICER · 55 hrs/week $758,512Base $570,156 · Other $188,356

JILL MAISONSVP & CHIEF RELATIONSHIP MANAGEMENT OFFICER · 55 hrs/week $730,906Base $500,392 · Other $230,514

GHOLAM M SALEHSVP & CHIEF RISK OFFICER · 70 hrs/week $663,110Base $561,488 · Other $101,622

JOHN FREDERICK SUTERVP, ECONOMIC RESEARCH · 40 hrs/week $614,388Base $397,289 · Other $217,099

RICHARD PERREAULT UNTIL 62025VP AND CIO · 40 hrs/week $597,957Base $475,066 · Other $122,891

NATHAN HOWARDSVP & GENERAL COUNSEL · 55 hrs/week $555,056Base $495,932 · Other $59,124

AMY S LUONGOSVP, STRATEGIC SERVICES · 50 hrs/week $519,796Base $424,006 · Other $95,790

DAVID W OLAHVP, PORTFOLIO MANAGEMENT · 50 hrs/week $507,420Base $398,184 · Other $109,236

Compensation alone does not tell whether pay is reasonable. Consider the charity’s size, work, location, and results.

See everyone listed on the board or leadership roster (47)

JONATHAN ANDREW DONCEO

BRAD CAPTAINSVP & CHIEF CORPORATE AFFAIRS OFFICER

JOEL ALLENSVP AND CHIEF BANKING OFFICER

YU LING WANGSVP & CFO

GARY A BRADBURYSVP & CHIEF OPERATING OFFICER

JILL MAISONSVP & CHIEF RELATIONSHIP MANAGEMENT OFFICER

GHOLAM M SALEHSVP & CHIEF RISK OFFICER

JOHN FREDERICK SUTERVP, ECONOMIC RESEARCH

RICHARD PERREAULT UNTIL 62025VP AND CIO

NATHAN HOWARDSVP & GENERAL COUNSEL

AMY S LUONGOSVP, STRATEGIC SERVICES

DAVID W OLAHVP, PORTFOLIO MANAGEMENT

LAWRENCE SAUNDERSVP, CREDIT RISK MANAGEMENT

JONATHAN J POLETTIDIRECTOR, INFO. SYSTEMS & DEPUTY CIO

W DANIEL CAWOODVP, PORTFOLIO MANAGEMENT

PANKAJ SHAHVP, CHIEF ACCOUNTING OFFICER

KIMBERLY MILLERVP AND DEPUTY GENERAL COUNSEL

ANDREW COLEMANVP, PORTFOLIO MANAGEMENT

VU LYVP, CAPITAL MARKETS

HEESUN CHOIVP, CAPITAL MARKETS RELATIONS

AAMER ARSHADVP, PORTFOLIO MANAGEMENT

MATTHEW AUGUSTOSKYVP, PORTFOLIO MANAGEMENT

GORDON ANTHONY NORTONPRESIDENT

MARK SUGGSVICE PRESIDENT

BRENT MCRAESECRETARY TREASURER

WILLIAM KEITH HAYWARDDIRECTOR

BARBARA E HAMPTONDIRECTOR

JEFFREY A REHDERDIRECTOR

SHANE LUCAS LARSONDIRECTOR

TIMOTHY S ELDRIDGEDIRECTOR

BRADLEY P JANORSCHKEDIRECTOR

MICHAEL J HEINENDIRECTOR

THOMAS A BAILEYDIRECTOR

KENDALL J MONTGOMERYDIRECTOR

JOHN METCALFDIRECTOR

ANTHONY LARSONDIRECTOR

JARED ECHTERNACHDIRECTOR

ANTHONY ANDERSON UNTIL 32025FORMER DIRECTOR

DONALD BIDEGAINDIRECTOR

DENNIS R FULKDIRECTOR

DARICK EISENBRAUNDIRECTOR

CHARLES ABEL IIDIRECTOR

BRUCE EVERHARTDIRECTOR

TERRY MICHAEL PARTINDIRECTOR

JOHN BARTLEY START 62024DIRECTOR

DAVID E FELKEL UNTIL 62024FORMER DIRECTOR

JEANETTE INGRID KESSLERDIRECTOR (START 3/2025)

About this charity

Recognized since: January 1969
Location: 20701 COOPERATIVE WAY, DULLES, VA 20166-6691
County: Loudoun
In care of: JONATHOAN ANDREW DON
Primary officer: JONATHOAN ANDREW DON, CEO

How to reach them

WebsiteVisit the charity’s website Phone(703) 467-1800

Filing and classification

Latest tax year: 2024
Tax period began: June 1, 2024
Return type: 990
Tax preparer: KPMG LLP
NTEE classification: Telecommunications (W50)
IRS tax category: Telecommunications
Grant-giving organization: Yes