Clark Energy Cooperative Inc
- Assets
- $143.3m
- Revenue
- $53.0m
- Investments
- $0.0
- Employees
- 54
- Location
- Winchester, KY
- Founding
- 04/1942
- Data as of
- 12/2021
- EIN
- 61-0158153
Organization Overview
Clark Energy Cooperative Inc is located in Winchester, KY. The organization was established in 1942. 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, Clark Energy Cooperative Inc employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clark Energy Cooperative 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 12/2021, Clark Energy Cooperative Inc generated $53.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.7% each year. All expenses for the organization totaled $53.0m during the year ending 12/2021. While expenses have increased by 0.7% per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE DISTRIBUTION ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE DISTRIBUTION SALES OF ELECTRICITY TO APPROXIMATELY 27,390 EACH MONTH TO MEMBER OWNERS ON A PATRONAGE BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert C Brewer President/ceo | Officer | 40 | $212,162 |
Raymond Todd Peyton Vp, Engineering | 40 | $135,434 | |
Thomas Napier Serviceman | 57 | $134,932 | |
C Phillip Blythe Vp/operations | 40 | $127,925 | |
Patty Young Manager Pr & Member Services | 40 | $110,260 | |
William Toy Jr Safety/material Management | 40 | $108,946 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Davis H Elliot Line Work | 12/30/21 | $2,109,239 |
Wakendall Right Of Way | 12/30/21 | $1,932,691 |
Bmc Contracting Right Of Way | 12/30/21 | $118,289 |
S&e Underground Underground Line Work | 12/30/21 | $118,735 |
Halbert Pole Treating Co Pole Treatment | 12/30/21 | $116,684 |
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 | $49,651,704 |
| Investment income | $59,379 |
| 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 | $52,998,836 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $18,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $3,500,866 |
| Compensation of current officers, directors, key employees. | $335,063 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,199,651 |
| Pension plan accruals and contributions | $840,161 |
| Other employee benefits | $569,340 |
| Payroll taxes | $333,034 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $18,181 |
| Fees for services: Accounting | $20,000 |
| 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 | $229,839 |
| 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 | $1,768,344 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,677,134 |
| Insurance | $216,831 |
| All other expenses | -$3,699,935 |
| Total functional expenses | $52,998,836 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,329,740 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $5,129,492 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $819,794 |
| Prepaid expenses and deferred charges | $150,286 |
| Net Land, buildings, and equipment | $96,588,522 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $37,370,387 |
| Intangible assets | $0 |
| Other assets | $1,919,428 |
| Total assets | $143,307,649 |
| Accounts payable and accrued expenses | $884,198 |
| 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 | $63,847,394 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $10,806,817 |
| Total liabilities | $75,538,409 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$1,688,184 |
| Retained earnings, endowment, accumulated income, or other funds | $69,457,424 |
| Total liabilities and net assets/fund balances | $143,307,649 |
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 |