Bluegrass Energy Cooperative Corp
- Assets
- $305.8m
- Revenue
- $163.1m
- Investments
- $0.0
- Employees
- 104
- Location
- Nicholasville, KY
- Founding
- 07/2002
- Data as of
- 12/2022
- EIN
- 43-1948188
Organization Overview
Bluegrass Energy Cooperative Corp is located in Nicholasville, KY. The organization was established in 2002. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, Bluegrass Energy Cooperative Corp employed 104 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bluegrass Energy Cooperative Corp 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 12/2022, Bluegrass Energy Cooperative Corp generated $163.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $163.1m during the year ending 12/2022. While expenses have increased by 2.7% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SINCE 1937, BLUE GRASS ENERGY HAS BEEN MAKING LIFE BETTER, THE COOPERATIVE WAY, FOR OUR MEMBERS AND COMMUNITIES BY PROVIDING SAFE, RELIABLE, AND AFFORDABLE ENERGY SERVICES. ELECTRICITY IS DELIVERED ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. TODAY, BLUE GRASS ENERGY SERVES APPROXIMATELY 62,000 CONSUMERS IN 23 KENTUCKY COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF APPROXIMATELY 62,000 CONSUMERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Moneyhon Chairman | OfficerTrustee | 8.5 | $23,400 |
Gary Keller Vice Chairman | OfficerTrustee | 8.96 | $21,600 |
Jane Smith Sec/treasurer | OfficerTrustee | 6.42 | $21,600 |
Jody Hughes Director | Trustee | 6.91 | $17,700 |
Paul Tucker Director | Trustee | 9.71 | $21,600 |
Doug Fritz Director | Trustee | 10.5 | $20,100 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wright Tree Service Right Of Way Maintenance | 12/30/22 | $2,342,328 |
The Davey Tree Expert Co Right Of Way Maintenance | 12/30/22 | $1,855,111 |
Southeast Power Corp Line Construction And Repair | 12/30/22 | $1,799,499 |
Wa Kendall Right Of Way Maintenance | 12/30/22 | $1,273,268 |
Davis H Elliott Line Construction And Repair | 12/30/22 | $694,453 |
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 | $157,018,460 |
| Investment income | -$60,709 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $163,075,358 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $7,467,696 |
| Compensation of current officers, directors, key employees. | $1,393,370 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,285,391 |
| Pension plan accruals and contributions | $1,422,995 |
| Other employee benefits | $1,390,888 |
| Payroll taxes | $596,214 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,917 |
| Fees for services: Accounting | $21,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $586,971 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,013,803 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,461,030 |
| Insurance | $419,675 |
| All other expenses | -$9,639,159 |
| Total functional expenses | $163,075,358 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,711,249 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,996,626 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,038,365 |
| Prepaid expenses and deferred charges | $714,287 |
| Net Land, buildings, and equipment | $187,148,851 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $87,502,183 |
| Intangible assets | $0 |
| Other assets | $10,689,457 |
| Total assets | $305,801,018 |
| Accounts payable and accrued expenses | $15,964,116 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $109,313,563 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,786,498 |
| Total liabilities | $139,064,177 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,160,815 |
| Paid-in or capital surplus, or land, building, or equipment fund | $620,984 |
| Retained earnings, endowment, accumulated income, or other funds | $164,955,042 |
| Total liabilities and net assets/fund balances | $305,801,018 |