OWEN ELECTRIC COOPERATIVE INC: Form 990, tax year 2023
View the entire original 990 at ProPublica ↗
- Organization
- OWEN ELECTRIC COOPERATIVE INC (EIN 61-0299615)
- Tax period
- 2023-01-01 to 2023-12-31
- Filed
- 2024-05-03
- IRS object ID
- 202431249349302168
- Schema version
- 2023v5.0
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2024-05-03T11:34:39-07:00 | ReturnTs |
| Tax Period End | 2023-12-31 | TaxPeriodEndDt |
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2023-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 610299615 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | OWEN ELECTRIC COOPERATIVE INC | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | OWEN | BusinessNameControlTxt |
| Phone | 5024843471 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 400 | AddressLine1Txt |
| City | Owenton | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40359 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Michael Cobb | PersonNm |
| Person Title | President and CEO | PersonTitleTxt |
| Phone | 5025633500 | PhoneNum |
| Signature | 2024-05-08 | SignatureDt |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | Michael | PersonFirstNm |
| Person Last | Cobb | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | 999009999 | SSN |
| Field | Value | IRS element (for citing) |
|---|---|---|
| IRS Responsible Prty Info Curr | Yes (1) | IRSResponsiblePrtyInfoCurrInd |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 1 | TrustedCustomerCd |
| OOB Security Verification | 11 | OOBSecurityVerificationCd |
| Last Submission Rqr OOB | 0 | LastSubmissionRqrOOBCd |
| Authentication Assurance Level | AAL2 | AuthenticationAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2023 | TaxYr |
| Build TS | 2023-04-26 12:10:37Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Initial Return | Yes (X) | InitialReturnInd |
| Principal Officer | Michael L Cobb | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 400 | AddressLine1Txt |
| City | Owenton | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40359 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $237,766,185 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | www.owenelectric.com | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 1937 | FormationYr |
| Legal Domicile State | KY | LegalDomicileStateCd |
| Activity Or Mission | Provide electric service to members on a patronage basis. Serve an average of 66,000 member accounts. Improve our members' lives by providing safe, reliable, affordable electric service. | ActivityOrMissionDesc |
| Voting Members Governing Body | 7 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 0 | VotingMembersIndependentCnt |
| Total Employee | 138 | TotalEmployeeCnt |
| Total Volunteers | 0 | TotalVolunteersCnt |
| Total Gross UBI | $0 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $226,825,219 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $232,713,777 | CYProgramServiceRevenueAmt |
| PY Investment Income | $343,804 | PYInvestmentIncomeAmt |
| CY Investment Income | $868,752 | CYInvestmentIncomeAmt |
| PY Other Revenue | $5,365,446 | PYOtherRevenueAmt |
| CY Other Revenue | $4,183,656 | CYOtherRevenueAmt |
| PY Total Revenue | $232,534,469 | PYTotalRevenueAmt |
| CY Total Revenue | $237,766,185 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $0 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $0 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $9,661,962 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $6,365,643 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $11,221,674 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $11,285,251 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $211,650,833 | PYOtherExpensesAmt |
| CY Other Expenses | $220,115,291 | CYOtherExpensesAmt |
| PY Total Expenses | $232,534,469 | PYTotalExpensesAmt |
| CY Total Expenses | $237,766,185 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | $0 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $0 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $308,543,726 | TotalAssetsBOYAmt |
| Total Assets EOY | $316,615,301 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $144,010,529 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $148,181,810 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $164,533,197 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $168,433,491 | NetAssetsOrFundBalancesEOYAmt |
| Mission | Provide electric service to members on a patronage basis. Serve an average of 65,000 member accounts. Improve our Member's lives by providing safe, reliable, and affordable electric service. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | Not Applicable | Desc |
| Total Other Prog Srvc Expense | $0 | TotalOtherProgSrvcExpenseAmt |
| Total Other Prog Srvc Grant | $0 | TotalOtherProgSrvcGrantAmt |
| Total Other Prog Srvc Revenue | $0 | TotalOtherProgSrvcRevenueAmt |
| Total Program Service Expenses | $0 | TotalProgramServiceExpensesAmt |
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | 0 | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | Yes (1) | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | 0 | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | Yes (1) | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | 0 | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | 0 | ForeignOfficeInd |
| Foreign Activities | 0 | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | 0 | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | 0 | DisregardedEntityInd |
| Related Entity | 0 | RelatedEntityInd |
| Related Organization Ctrl Ent | 0 | RelatedOrganizationCtrlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 107 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 138 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | 0 | UnrelatedBusIncmOverLimitInd |
| Foreign Financial Account | 0 | ForeignFinancialAccountInd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Members And Shr Gross Income | $232,713,777 | MembersAndShrGrossIncomeAmt |
| Other Sources Gross Income | $4,183,655 | OtherSourcesGrossIncomeAmt |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | 0 | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 7 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 0 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | Yes (1) | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | Yes (1) | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | Yes (1) | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | Yes (1) | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | Hollie Breeden | PersonNm |
| Phone | 5024843471 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | PO Box 400 | AddressLine1Txt |
| City | Owenton | CityNm |
| State Abbreviation | KY | StateAbbreviationCd |
| ZIP | 40359 | ZIPCd |
Form990 Part VII Section A Form990PartVIISectionAGrp (19 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Former Ofcr Director TrusteeFormerOfcrDirectorTrusteeInd | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd |
|---|---|---|---|---|---|---|---|---|---|
| Michael L Cobb | |||||||||
| President and CEO | 60 | Yes (X) | $320,451 | $0 | $88,797 | ||||
| Teresa Hamilton | |||||||||
| VP of Accounting | 50 | $199,765 | $0 | $66,930 | Yes (X) | ||||
| Jennifer Taylor | |||||||||
| VP of Engineering | 50 | $179,479 | $0 | $71,479 | Yes (X) | ||||
| Michael Stafford | |||||||||
| VP of Member Services | 50 | $152,737 | $0 | $72,084 | Yes (X) | ||||
| Jim Petreshock | |||||||||
| VP of Information Systems | 50 | $152,386 | $0 | $71,685 | Yes (X) | ||||
| Brian Jones | |||||||||
| VP of Operations | 50 | $167,220 | $0 | $27,524 | Yes (X) | ||||
| Steven Moore | |||||||||
| Service Technician | 55 | $139,251 | $0 | $46,642 | Yes (X) | ||||
| Jerod Mulberry | |||||||||
| Service Technician | 53 | $133,149 | $0 | $44,010 | Yes (X) | ||||
| Albert Pickett | |||||||||
| Service Technician | 54 | $137,199 | $0 | $35,536 | Yes (X) | ||||
| Joe Schmiade | |||||||||
| Service Technician | 56 | $145,805 | $0 | $18,084 | Yes (X) | ||||
| Larry Richardson | |||||||||
| Service Technician | 54 | $142,392 | $0 | $8,852 | Yes (X) | ||||
| Richard Messingschlager | |||||||||
| Vice Chairman of the Board | 9 | $30,923 | $0 | $0 | Yes (X) | ||||
| John Grant | |||||||||
| Chairman of the Board | 8 | $27,950 | $0 | $0 | Yes (X) | ||||
| Charles Richarson | |||||||||
| Director | 6 | $24,999 | $0 | $0 | Yes (X) | ||||
| Eddie McCord | |||||||||
| Director | 4 | $22,211 | $0 | $0 | Yes (X) | ||||
| Hope Kinman | |||||||||
| Secretary/Treasurer | 5 | $21,659 | $0 | $0 | Yes (X) | ||||
| Charles Alan Ahrman | |||||||||
| Director | 7 | $20,773 | $0 | $0 | Yes (X) | ||||
| Erin Rehkamp | |||||||||
| VP of Corporate Services | 50 | $20,336 | $0 | $89 | Yes (X) | ||||
| Robert True | |||||||||
| Director | 3 | $19,365 | $0 | $0 | Yes (X) | ||||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $2,058,050 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $551,712 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 52 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | Yes (1) | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd | ServicesServicesDesc | CompensationCompensationAmt |
|---|---|---|---|---|---|
| Asplundh | |||||
| PO Box 532729 | Atlanta | GA | 30353 | Tree Trimming | $3,661,633 |
| Epp-Lectric | |||||
| 1040 Knoxville Rd | Dry Ridge | KY | 41035 | Lineman Crews | $1,100,670 |
| Advanced Meter Services | |||||
| PO Box 430 | Cynthiana | KY | 41031 | Meter Installations | $397,966 |
| Mclean Engineering | |||||
| PO Box 2587 | Moultrie | GA | 317762587 | Joint Use Inspections | $254,366 |
| USIC | |||||
| PO Box 715409 | Cincinnati | OH | 452715409 | Locating Service | $203,051 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 8 | CntrctRcvdGreaterThan100KCnt |
| Total Contributions | $0 | TotalContributionsAmt |
Program Service Revenue ProgramServiceRevenueGrp (2 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|---|
| Electric Service | 221000 | $232,716,194 | $232,716,194 | $0 | $0 |
| Other | 221000 | -$2,417 | -$2,417 | $0 | $0 |
Total Oth Program Service Rev TotalOthProgramServiceRevGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $232,713,777 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $868,752 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $868,752 | ExclusionAmt |
Incm From Invest Bond Proceeds IncmFromInvestBondProceedsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
Rental Income Or Loss RentalIncomeOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Real | $0 | RealAmt |
| Personal | $0 | PersonalAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $0 | SecuritiesAmt |
| Other | $0 | OtherAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | ExclusionExclusionAmt |
|---|---|---|---|---|---|
| G&T Capital Credits | 221000 | $2,554,900 | $0 | $0 | $2,554,900 |
| Joint Pole Attachments | 221000 | $1,137,879 | $0 | $0 | $1,137,879 |
| Other Capital Credits | 221000 | $490,877 | $0 | $0 | $490,877 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $0 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $0 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $0 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $4,183,656 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $237,766,185 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $232,713,777 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $0 | UnrelatedBusinessRevenueAmt |
| Exclusion | $5,052,408 | ExclusionAmt |
Benefits To Members BenefitsToMembersGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $6,365,643 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,609,762 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $5,083,425 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,294,017 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,795,960 | TotalAmt |
Payroll Taxes PayrollTaxesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $502,087 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $37,900 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $55,138 | TotalAmt |
Interest InterestGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,647,968 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $12,471,398 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| Cost of Purchase Power | $192,234,745 |
| Operations and Maintenance | $8,018,669 |
| General and Administrative | $1,932,594 |
| Customer Service and Accounts | $1,665,682 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $51,197 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $237,766,185 | TotalAmt |
| Program Services | $0 | ProgramServicesAmt |
| Management And General | $0 | ManagementAndGeneralAmt |
| Fundraising | $0 | FundraisingAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $3,043,823 | BOYAmt |
| EOY | $1,751,320 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,609,797 | BOYAmt |
| EOY | $17,212,986 | EOYAmt |
Pledges And Grants Receivable PledgesAndGrantsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $21,052,191 | BOYAmt |
| EOY | $19,293,890 | EOYAmt |
Inventories For Sale Or Use InventoriesForSaleOrUseGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $2,297,059 | BOYAmt |
| EOY | $2,436,122 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $7,582,583 | BOYAmt |
| EOY | $5,819,979 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $354,474,861 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $186,656,840 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $165,234,112 | BOYAmt |
| EOY | $167,818,021 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Investments Other Securities InvestmentsOtherSecuritiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Investments Program Related InvestmentsProgramRelatedGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| EOY | $0 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $99,724,161 | BOYAmt |
| EOY | $102,282,983 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $308,543,726 | BOYAmt |
| EOY | $316,615,301 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $22,451,718 | BOYAmt |
| EOY | $18,783,081 | EOYAmt |
Mortg Notes Pybl Scrd Invst Prop MortgNotesPyblScrdInvstPropGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $94,203,053 | BOYAmt |
| EOY | $107,999,269 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $27,355,758 | BOYAmt |
| EOY | $21,399,460 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $144,010,529 | BOYAmt |
| EOY | $148,181,810 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Org Does Not Follow FASB117 | Yes (X) | OrgDoesNotFollowFASB117Ind |
Cap Stk Tr Prin Current Funds CapStkTrPrinCurrentFundsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,313,185 | BOYAmt |
| EOY | $1,332,005 | EOYAmt |
Pd In Cap Srpls Land Bldg Eqp Fund PdInCapSrplsLandBldgEqpFundGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $8,061,184 | BOYAmt |
| EOY | $8,578,865 | EOYAmt |
Rtn Earn Endowment Incm Oth Fnds RtnEarnEndowmentIncmOthFndsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $155,158,828 | BOYAmt |
| EOY | $158,522,621 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $164,533,197 | BOYAmt |
| EOY | $168,433,491 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $308,543,726 | BOYAmt |
| EOY | $316,615,301 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $0 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $0 | NetUnrlzdGainsLossesInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Investment Expense | $0 | InvestmentExpenseAmt |
| Prior Period Adjustments | $0 | PriorPeriodAdjustmentsAmt |
| Other Changes In Net Assets | $3,900,294 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule D IRS990ScheduleD
Land LandGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $2,119,290 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Book Value | $2,119,290 | BookValueAmt |
Buildings BuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $13,706,607 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,581,613 | DepreciationAmt |
| Book Value | $8,124,994 | BookValueAmt |
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $0 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $338,648,964 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $181,075,227 | DepreciationAmt |
| Book Value | $157,573,737 | BookValueAmt |
Other Land Buildings OtherLandBuildingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Investment Cost Or Other Basis | $0 | InvestmentCostOrOtherBasisAmt |
| Other Cost Or Other Basis | $0 | OtherCostOrOtherBasisAmt |
| Depreciation | $0 | DepreciationAmt |
| Book Value | $0 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $167,818,021 | TotalBookValueLandBuildingsAmt |
Other Assets Org OtherAssetsOrgGrp (3 entries)
| DescDesc | Book ValueBookValueAmt |
|---|---|
| Investments in Associated Organizations | $100,879,038 |
| CTCs and Other Investments | $1,361,933 |
| Cash Surrender Value Life Insurance | $42,012 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Other Assets | $102,282,983 | TotalBookValueOtherAssetsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp (4 entries)
| DescDesc | AmtAmt |
|---|---|
| Accrued Expenses | $3,721,739 |
| Advances for Construction and Deferred Credit | $2,688,252 |
| Consumer Deposits and Interest Payable on Consumer Deposits | $2,303,788 |
| Post Retirement Benefits | $12,685,681 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $21,399,460 | TotalLiabilityAmt |
| Total Rev Etc Audited Fincl Stmt | $233,854,072 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $0 | NetUnrealizedGainsInvstAmt |
| Donated Services And Use Fclts | $0 | DonatedServicesAndUseFcltsAmt |
| Recoveries Prior Year Grants | $0 | RecoveriesPriorYearGrantsAmt |
| Other Revenue | $0 | OtherRevenueAmt |
| Revenue Not Reported | $0 | RevenueNotReportedAmt |
| Revenue Subtotal | $233,854,072 | RevenueSubtotalAmt |
| Investment Expenses Not Incld | $0 | InvestmentExpensesNotIncldAmt |
| Other Revenues Not Included | $3,912,113 | OtherRevenuesNotIncludedAmt |
| Revenue Not Reported Fincl Stmt | $3,912,113 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $237,766,185 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $231,349,345 | TotExpnsEtcAuditedFinclStmtAmt |
| Donated Services Use Fclts | $0 | DonatedServicesUseFcltsAmt |
| Prior Year Adjustments | $0 | PriorYearAdjustmentsAmt |
| Losses Reported | $0 | LossesReportedAmt |
| Other Expenses Included | $0 | OtherExpensesIncludedAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $231,349,345 | ExpensesSubtotalAmt |
| Investment Expenses Not Incld2 | $0 | InvestmentExpensesNotIncld2Amt |
| Other Expenses Not Included | $6,416,840 | OtherExpensesNotIncludedAmt |
| Expenses Not Rpt Fincl Stmt | $6,416,840 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $237,766,185 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Schedule D, Part XI, Line 4b | G&T Capital Credits $2,554,900. Other Capital Credits $490,877. Interest Income $868,753 and Other Margins ($2,417). Total $3,912,113. |
| Schedule D, Part XII, Line 4b | Net Margins $6,365,643 and Other $51,197. Total $6,416,840. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Independent Consultant | Yes (X) | IndependentConsultantInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Compensation Survey | Yes (X) | CompensationSurveyInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (12 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Michael L Cobb | ||||||||||||||
| President and CEO | $320,451 | $0 | $0 | $0 | $0 | $0 | $67,470 | $0 | $21,327 | $0 | $409,248 | $0 | $0 | $0 |
| Teresa Hamilton | ||||||||||||||
| VP of Accounting | $199,765 | $0 | $0 | $0 | $0 | $0 | $49,759 | $0 | $17,171 | $0 | $266,695 | $0 | $0 | $0 |
| Jennifer Taylor | ||||||||||||||
| VP of Engineering | $179,479 | $0 | $0 | $0 | $0 | $0 | $58,727 | $0 | $12,751 | $0 | $250,957 | $0 | $0 | $0 |
| Brian Jones | ||||||||||||||
| VP of Operations | $167,220 | $0 | $0 | $0 | $0 | $0 | $6,981 | $0 | $20,543 | $0 | $194,744 | $0 | $0 | $0 |
| Michael Stafford | ||||||||||||||
| VP of Member Services | $152,737 | $0 | $0 | $0 | $0 | $0 | $51,584 | $0 | $20,500 | $0 | $224,821 | $0 | $0 | $0 |
| Jim Petreshock | ||||||||||||||
| VP of Information Systems | $152,386 | $0 | $0 | $0 | $0 | $0 | $51,182 | $0 | $20,502 | $0 | $224,070 | $0 | $0 | $0 |
| Erin Rehkamp | ||||||||||||||
| VP of Corporate Services | $20,336 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $89 | $0 | $20,425 | $0 | $0 | $0 |
| Jerod Mulberry | ||||||||||||||
| Service Technician | $133,149 | $0 | $0 | $0 | $0 | $0 | $31,965 | $0 | $12,045 | $0 | $177,159 | $0 | $0 | $0 |
| Albert Pickett | ||||||||||||||
| Service Technician | $137,199 | $0 | $0 | $0 | $0 | $0 | $32,164 | $0 | $3,372 | $0 | $172,735 | $0 | $0 | $0 |
| Steven Moore | ||||||||||||||
| Service Technician | $139,251 | $0 | $0 | $0 | $0 | $0 | $32,256 | $0 | $14,385 | $0 | $185,892 | $0 | $0 | $0 |
| Larry Richardson | ||||||||||||||
| Service Technician | $142,392 | $0 | $0 | $0 | $0 | $0 | $5,809 | $0 | $3,043 | $0 | $151,244 | $0 | $0 | $0 |
| Joe Schmiade | ||||||||||||||
| Service Technician | $145,805 | $0 | $0 | $0 | $0 | $0 | $5,987 | $0 | $12,097 | $0 | $163,889 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (8 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| Form 990, Part VI, Section A, Line 6 | Must be a member to receive electric service. Each member has one vote. May have more than one service per membership. |
| Form 990, Part VI, Section A, Line 7a | Election of Governing Body- Nominating Committee meets every year there is an election to select a member to run for director. Member may run for director with petition signed by forty (40) or more eligible members. |
| Form 990, Part VI, Section A, Line 7b | Governance Decisions- Articles of Incorporation can only be changed by at least a 2/3 majority of membership. By-laws may be altered, amended, repealed by a majority vote of the Board of Directors. |
| Form 990, Part VI, Section B, Line 11b | Form 990 Review- Directors are furnished with a draft copy of the Form 990 prior to filing, they can make inquires of and changes to information contained within. |
| Form 990, Part VI, Section B, Line 12c | Compliance with Conflict of Interest Policy- There is a board policy requiring directors and employees to disclose any potential conflicts of interest. A form is utilized for this disclosure and completed forms are maintained at the Cooperative's office. |
| Form 990, Part VI, Section B, Line 15 | Compensation Review and Approval- The Cooperative utilizes a wage and salary survey conducted by NRECA to evaluate the compensation for all employees. This annual wage and salary considers regional market conditions. The wage and salary proposal is reviewed by the Board of Directors. |
| Form 990, Part VI, Section C, Line 19 | Publicly available documents- The Cooperative's Article of Incorporation and By-Laws are made available on the Cooperative's website. Once a year, by-laws are included in the Cooperative's monthly magazine. The conflict of interest policy would be made available upon request. The Cooperative's annual financial statement summary is included in the Cooperative's monthly magazine, and the Cooperative's audited financial statements and detailed financial information are made available on the Kentucky Public Service Commission's website. |
| Form 990, Part XI, Line 9 | Margins allocated to Members $6,365,643, Memberships Issued $18,820, Refund of Capital Credits ($1,914,810), and Unrealized Gain/Loss ($569,359) |