National Rural Utilities Cooperative
The National Rural Utilities Cooperative Finance Corporation (CFC) is a member-owned, nonprofit finance cooperative headquartered in Dulles, Virginia. Incorporated on April 10, 1969, CFC serves as a vital financial bridge between rural electric cooperatives and the global capital markets. The organization provides financing and capital solutions to nearly 1,000 member-owners—including electric distribution cooperatives, power supply cooperatives, and statewide and regional associations—across 48 states, the District of Columbia, and two U.S. territories.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$38.3B
+5.9% YoY
Annual Giving
$1.1M
-26.8% YoY
Grant Count
43
+0.0% YoY
Avg Grant Size
$26K
-26.8% YoY
Mission & Focus Areas
CFC's operations are grounded in the seven cooperative principles and guided by core values of service, integrity, and excellence in serving member-owners.
Primary Program Areas:
Lending Services — CFC provides loans to its member cooperatives and related organizations, generating interest income from these loans. The organization raises funds through capital markets and private third-party transactions, passing along costs and resulting savings to borrowers. These funds enable rural electric cooperatives to continue providing essential electric and power services to consumers and businesses in rural territories.
Integrity Fund — CFC manages a voluntary restricted cash account established to assist cooperatives in defending their cooperative territories.
Grantmaking
CFC's grantmaking focuses on Education, Philanthropy, Voluntarism & Grantmaking, and Arts, Culture & Humanities, with primary geographic concentration in Michigan, Texas, and Georgia.
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Geographic Focus
Where this funder awards grants
CFC serves member-owners across 48 states, the District of Columbia, and two U.S. territories. Primary grantmaking focus areas include Michigan, Texas, and Georgia.
Grant Distribution by State
States
Cities
Financial History
Multi-year comparison from IRS filings
As of May 2025:
- Total Assets: $38.3 billion
- Total Revenue: $2.07 billion
- Total Expenses: $1.84 billion
- Total Liabilities: $35.2 billion
- Employees: 372
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $38,295,081,990 | $36,153,418,188 | $33,983,672,971 |
| Revenue | $2,071,222,273 | $2,006,337,656 | $1,630,263,995 |
| Expenses | $1,836,035,643 | $1,733,194,225 | $1,378,195,724 |
| Qualifying Distributions | — | — | — |
| Net Investment Income | $9,044,902 | $20,967,286 | $17,689,759 |
| Distributable Amount | — | — | — |
Giving Over Time
Total grant dollars and number of grants per year
Grant Insights
How this funder distributes its grants
Top Recipients
Top 10 recipients in 2025
Grant Size Distribution
220 grants across all recorded years
Giving History
Grant recipients and amounts by year
Among its reported 2025 grants, the largest include Nreca ($154,659), Mi020 Alger-delta Co-operative Electric Association ($71,372), Texas Electric Cooperatives Inc ($63,500).
| Recipient | Purpose | Amount |
|---|---|---|
| MI020 ALGER-DELTA CO-OPERATIVE ELECTRIC ASSOCIATION GLADSTONE, MI | INTEGRITY FUND - TERRITORY THREAT | $71,372 |
| ALABAMA RURAL ELECTRIC ASSOCIATION OF COOPERATIVES MONTGOMERY, AL | EDUCATIONAL FUND-AREA SUMMER CONFERENCE | $22,500 |
| ALASKA POWER ASSOCIATION ANCHORAGE, AK | EDUCATIONAL FUND-ONGOING TRAINING FOR STATEWIDE STAFF AND ALASKA CHAPERONE AND STUDENTS TO ATTEND IDAHO CONSUMER-OWNED UTILITY ASSN. YOUTH RALLY | $18,000 |
| ARKANSAS ELECTRIC COOPERATIVE INC LITTLE ROCK, AR | EDUCATIONAL FUND - TRAINING FOR STATEWIDE STAFF AND EMPLOYEES AT MEMBER SYSTEMS | $16,750 |
| ASSOCIATION OF ILLINOIS ELECTRIC COOPERATIVES SPRINGFIELD, IL | EDUCATIONAL FUND- STATEWIDE SURVEY | $30,000 |
| ASSOCIATION OF LOUISIANA ELECTRIC COOPERATIVES INC BATON ROUGE, LA | EDUCATIONAL FUND-RURAL ELECTRIC COOPERATIVES YOUTH TOUR | $12,750 |
| COLORADO RURAL ELECTRIC ASSOCIATION DENVER, CO | EDUCATIONAL FUND-EMPLOYEE EDUCATION COURSES | $23,250 |
| ELECTRIC COOPERATIVES OF MISSISSIPPI RIDGELAND, MS | EDUCATIONAL FUND-NRECA YOUTH TOUR OF WASHINGTON, DC | $24,000 |
| FLORIDA ELECTRIC COOPERATIVES ASSOCIATION INC TALLAHASSEE, FL | EDUCATIONAL FUND-FECA SUMMER LEADERSHIP CONFERENCE | $14,500 |
| GEORGIA ELECTRIC MEMBERSHIP CORPORATION TUCKER, GA | EDUCATIONAL FUND-GEORGIA EMC SUNBELT AGRICULTURAL EXPOSITION EXHIBIT | $33,250 |
Leadership & Key People
Leadership team and compensation from IRS filings
Brad Captain — Senior Vice President and Chief Corporate Affairs Officer
Heesun Choi — Vice President, Capital Markets Relations
Compensation Overview
From 2025 IRS filing
From 2025 filing
| Name | Title | Hours | Compensation |
|---|---|---|---|
| GORDON ANTHONY NORTON | PRESIDENT | 17 | $95,000 |
| MARK SUGGS | VICE PRESIDENT | 10 | $95,000 |
| BRENT MCRAE | SECRETARY TREASURER | 5 | $92,917 |
| BARBARA E HAMPTON | DIRECTOR | 6 | $90,000 |
| WILLIAM KEITH HAYWARD | DIRECTOR | 5 | $90,000 |
| SHANE LUCAS LARSON | DIRECTOR | 8 | $87,917 |
| JEFFREY A REHDER | DIRECTOR | 8 | $87,917 |
| TIMOTHY S ELDRIDGE | DIRECTOR | 7 | $87,083 |
| CHARLES ABEL II | DIRECTOR | 4 | $85,000 |
| ANTHONY ANDERSON UNTIL 32025 | FORMER DIRECTOR | 4 | $85,000 |
| THOMAS A BAILEY | DIRECTOR | 6 | $85,000 |
| DONALD BIDEGAIN | DIRECTOR | 3 | $85,000 |
| JARED ECHTERNACH | DIRECTOR | 10 | $85,000 |
| DARICK EISENBRAUN | DIRECTOR | 8 | $85,000 |
| BRUCE EVERHART | DIRECTOR | 10 | $85,000 |
| DENNIS R FULK | DIRECTOR | 10 | $85,000 |
| MICHAEL J HEINEN | DIRECTOR | 3 | $85,000 |
| BRADLEY P JANORSCHKE | DIRECTOR | 6 | $85,000 |
| ANTHONY LARSON | DIRECTOR | 12 | $85,000 |
| JOHN METCALF | DIRECTOR | 6 | $85,000 |
| KENDALL J MONTGOMERY | DIRECTOR | 11 | $85,000 |
| TERRY MICHAEL PARTIN | DIRECTOR | 10 | $75,000 |
| JOHN BARTLEY START 62024 | DIRECTOR | 5 | $52,500 |
| DAVID E FELKEL UNTIL 62024 | FORMER DIRECTOR | 5 | $36,667 |
| JEANETTE INGRID KESSLER | DIRECTOR (START 3/2025) | 3 | — |
| JONATHAN ANDREW DON | CEO | 70 | $2,551,220 |
| BRAD CAPTAIN | SVP & CHIEF CORPORATE AFFAIRS OFFICER | 55 | $603,563 |
| JOEL ALLEN | SVP AND CHIEF BANKING OFFICER | 55 | $673,366 |
| YU LING WANG | SVP & CFO | 65 | $650,311 |
| GARY A BRADBURY | SVP & CHIEF OPERATING OFFICER | 55 | $570,156 |
| JILL MAISON | SVP & CHIEF RELATIONSHIP MANAGEMENT OFFICER | 55 | $500,392 |
| GHOLAM M SALEH | SVP & CHIEF RISK OFFICER | 70 | $561,488 |
| NATHAN HOWARD | SVP & GENERAL COUNSEL | 55 | $495,932 |
| AMY S LUONGO | SVP, STRATEGIC SERVICES | 50 | $424,006 |
| RICHARD PERREAULT UNTIL 62025 | VP AND CIO | 40 | $475,066 |
| DAVID W OLAH | VP, PORTFOLIO MANAGEMENT | 50 | $398,184 |
| W DANIEL CAWOOD | VP, PORTFOLIO MANAGEMENT | 50 | $363,798 |
| ANDREW COLEMAN | VP, PORTFOLIO MANAGEMENT | 45 | $339,075 |
| VU LY | VP, CAPITAL MARKETS | 50 | $296,677 |
| HEESUN CHOI | VP, CAPITAL MARKETS RELATIONS | 40 | $285,983 |
| AAMER ARSHAD | VP, PORTFOLIO MANAGEMENT | 40 | $239,721 |
| MATTHEW AUGUSTOSKY | VP, PORTFOLIO MANAGEMENT | 50 | $245,738 |
| JOHN FREDERICK SUTER | VP, ECONOMIC RESEARCH | 40 | $397,289 |
| LAWRENCE SAUNDERS | VP, CREDIT RISK MANAGEMENT | 50 | $391,540 |
| JONATHAN J POLETTI | DIRECTOR, INFO. SYSTEMS & DEPUTY CIO | 40 | $367,855 |
| PANKAJ SHAH | VP, CHIEF ACCOUNTING OFFICER | 55 | $370,001 |
| KIMBERLY MILLER | VP AND DEPUTY GENERAL COUNSEL | 50 | $359,714 |
Contact Information
Main Headquarters: 703-467-1800 or 800-424-2954
Member Center: 800-424-2955
Capital Markets Desk: 800-424-2954 ext. 1750
Hours: Monday–Friday, 8 a.m.–4:45 p.m. Eastern Time
Website: www.nrucfc.coop
Frequently Asked Questions
What does National Rural Utilities Cooperative fund?
CFC's operations are grounded in the seven cooperative principles and guided by core values of service, integrity, and excellence in serving member-owners. **Primary Program Areas:** **Lending Services** — CFC provides loans to its member cooperatives and related organizations, generating interest income from these loans. The organization raises funds through capital markets and private third-party transactions, passing along costs and resulting savings to borrowers. These funds enable rural el…
How do I apply for a grant from National Rural Utilities Cooperative?
CFC's grantmaking focuses on Education, Philanthropy, Voluntarism & Grantmaking, and Arts, Culture & Humanities, with primary geographic concentration in Michigan, Texas, and Georgia. **Recent Giving Activity (2025):** • Total giving: $1,124,281 • Typical award range: $5,453–$187,311
Where does National Rural Utilities Cooperative make grants?
CFC serves member-owners across 48 states, the District of Columbia, and two U.S. territories. Primary grantmaking focus areas include Michigan, Texas, and Georgia.
What size grants does National Rural Utilities Cooperative award?
In 2025, National Rural Utilities Cooperative awarded 43 grants totaling $1.1M — an average of about $26K per grant, based on its IRS Form 990 filings.
What is National Rural Utilities Cooperative's EIN?
National Rural Utilities Cooperative's EIN (Employer Identification Number) is 52-0891669. IRS Form 990 filing data is available on this page for 2021–2025.
Explore Open Grants
Browse active grant opportunities in National Rural Utilities Cooperative's focus areas in our free grants database
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Data last updated June 2026. Sourced from IRS Form 990-PF filings. Research dossier generated April 2026.
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