Big Sandy Rural Electric Cooperative Corp
- Assets
- $64.9m
- Revenue
- $25.6m
- Investments
- $23.0m
- Employees
- 46
- Location
- Paintsville, KY
- Founding
- 02/1960
- Data as of
- 12/2021
- EIN
- 61-0133681
Organization Overview
Big Sandy Rural Electric Cooperative Corp is located in Paintsville, KY. The organization was established in 1960. 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 12/2021, Big Sandy Rural Electric Cooperative Corp employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Big Sandy Rural Electric 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 12/2021, Big Sandy Rural Electric Cooperative Corp generated $25.6m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.7%) each year. All expenses for the organization totaled $25.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 7 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 12,800 CONSUMERS MONTHLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 12,800 CONSUMERS MONTHLY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Harrison Supervisor | 40 | $150,419 | |
Donald Holbrook Supervisor | 40 | $125,093 | |
William Jarrell Supervisor | 40 | $118,883 | |
Bruce A Davis President/ceo | Officer | 40 | $114,617 |
Jeffery Prater VP Of Operations | Officer | 40 | $95,748 |
Jason Holbrook Director | Trustee | 4 | $9,440 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Progressive Solutions Row Clearing | 12/30/21 | $131,782 |
R & H Contracting Llc Row Clearing | 12/30/21 | $609,705 |
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 | $24,375,803 |
| Investment income | $210,360 |
| 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 | $25,641,009 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $9,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $675,154 |
| Compensation of current officers, directors, key employees. | $663,136 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,182,029 |
| Pension plan accruals and contributions | $396,244 |
| Other employee benefits | $479,983 |
| Payroll taxes | $701,071 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,212 |
| Fees for services: Accounting | $14,125 |
| 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 | $91,720 |
| 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 | $763,764 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,545,141 |
| Insurance | $172,107 |
| All other expenses | -$3,576,796 |
| Total functional expenses | $25,641,009 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,637,433 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,202,569 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $307,290 |
| Prepaid expenses and deferred charges | $26,632 |
| Net Land, buildings, and equipment | $32,731,557 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $22,972,521 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,561 |
| Total assets | $64,893,563 |
| Accounts payable and accrued expenses | $2,316,385 |
| 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 | $25,431,847 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,203,254 |
| Total liabilities | $35,951,486 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $225,765 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$2,112,919 |
| Retained earnings, endowment, accumulated income, or other funds | $30,829,231 |
| Total liabilities and net assets/fund balances | $64,893,563 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Big Sandy Rural Electric Cooperative Corp has recieved totaling $7,090.
| Awarding Organization | Amount |
|---|---|
Mountain Association For Community Economic Development Inc Berea, KY PURPOSE: Energy efficient retrofits | $7,090 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Northeastern Rural Electric Membership Corporation Columbia City, IN | $154,005,839 | $126,158,719 |
Upper Cumberland Electric Membership Corporation Carthage, TN | $208,911,918 | $121,895,944 |
Meriwether Lewis Electric Cooperative Centerville, TN | $179,486,251 | $119,621,039 |
Salt River Electric Bardstown, KY | $187,060,575 | $114,408,015 |
Southwest Tennessee Electric Membership Corp Brownsville, TN | $219,052,657 | $121,626,016 |
Appalachian Electric Cooperative New Market, TN | $242,163,198 | $119,028,278 |
Jackson Energy Cooperative Corporat Ion Inc Mckee, KY | $284,949,026 | $109,799,636 |
N W Electric Power Cooperative Inc Cameron, MO | $276,321,789 | $107,924,696 |
Central Virginia Electric Cooperative Lovingston, VA | $375,858,912 | $102,220,456 |
Gibson Electric Membership Corp Trenton, TN | $199,281,246 | $104,510,085 |
Holston Electric Cooperative Inc Rogersville, TN | $140,432,181 | $97,958,544 |
Hendricks County Rural Electric Membership Corporation Danville, IN | $222,904,007 | $97,103,288 |