Licking Rural Electrification Inc

Organization Overview

Licking Rural Electrification Inc is located in Newark, OH. The organization was established in 1937. According to its NTEE Classification (W80) the organization is classified as: Public Utilities, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2023, Licking Rural Electrification Inc employed 58 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Licking Rural Electrification Inc is a 501(c)(12) and as such, is described as a "Benevolent Life Insurance Association, Mutual Ditch or Irrigation Company, Mutual or Cooperative Telephone Company" by the IRS.

For the year ending 12/2023, Licking Rural Electrification Inc generated $69.2m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $66.2m during the year ending 12/2023. While expenses have increased by 3.7% per year over the past 9 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

DISTRIBUTE ELECTRICITY TO ITS MEMBERS

Describe the Organization's Program Activity:

Part 3 - Line 4a

LICKING RURAL ELECTRIFICATION DISTRIBUTES ELECTRICITY TO 27,326 MEMBERS IN 9 COUNTIES WITHIN OHIO.


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Board, Officers & Key Employees

Name (title)Compensation
Todd Ware
President CEO
$0
Daniel Mcvey
VP COO
$0
Pat Mcgonagle
VP CFO
$0
Connie Hogue
VP Of Human Resources/safety
$0
Scott Stitts
VP Cio
$0
Joe Higdon
Controller
$0

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Smartbill
Billing
$532,290
New River Electrical Corp
Facilities Construction
$4,835,277
Laroche Aviation Services Llc
Right Of Way Clearing
$1,594,641
Boss & Son Excavating Llc
Facilites Construction
$1,094,823
Hysong Tree Service Llc
Right Of Way Clearing
$599,200
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$65,481,458
Investment income $405,672
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $574,308
Net Gain/Loss on Asset Sales $93,573
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $69,207,212

Peer Organizations

Organization NameAssets
Northeastern Rural Electric Membership Corporation
Columbia City, IN
$122,357,885
South Central Indiana Rural Electric Membership Corporation
Martinsville, IN
$101,798,961
Nolin Rural Electric Cooperative Corporation
Elizabethtown, KY
$102,908,461
Hendricks County Rural Electric Membership Corporation
Danville, IN
$102,543,098
West Kentucky Rural Electric Cooperative Corporation
Mayfield, KY
$101,104,837
Jackson Purchase Energy Corporation
Paducah, KY
$99,427,396
Fleming-Mason Energy Cooperative Inc
Flemingsburg, KY
$90,808,955
Cloverland Electric Cooperative Inc
Sault Ste Marie, MI
$90,733,673
Adams Electric Cooperative Inc
Gettysburg, PA
$78,385,681
Tipmont Rural Electric Membership Corporation
Linden, IN
$79,467,058
Western Indiana Energy Rural Electric Membership Corporation
Vincennes, IN
$76,031,018
Pioneer Rural Electric Cooperative Inc
Piqua, OH
$75,418,373
Inter-County Energy Cooperative Corporation
Danville, KY
$70,820,953
Tri-County Electric Cooperative
Portland, MI
$67,971,587
Meade County Rural Electric Cooperative Corporation
Brandenburg, KY
$68,475,133
Farmers Rural Electric Cooperative Corporation
Glasgow, KY
$67,395,267
Licking Rural Electrification Inc
Newark, OH
$69,207,212
Presque Isle Electric & Gas Co-Op
Onaway, MI
$60,694,805
Union Rural Electric Co-Op Inc
Marysville, OH
$66,933,265
Clark County Rural Electric Membership Corporation
Sellersburg, IN
$68,579,271
Harrison County Rural Electric Membership Corporation-89
Corydon, IN
$62,057,885
Cumberland Valley Electric Co-Op Corp
Gray, KY
$59,924,348
Consolidated Cooperative
Mt Gilead, OH
$62,840,671
Boone County Rural Electric Membership Corp
Lebanon In, IN
$69,061,714
Cherryland Electric Co Op
Grawn, MI
$59,803,199

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