Fleming-Mason Energy Cooperative Inc
- Assets
- $142.7m
- Revenue
- $79.5m
- Investments
- $0.0
- Employees
- 54
- Location
- Flemingsburg, KY
- Founding
- 09/1942
- Data as of
- 12/2021
- EIN
- 61-0193917
Organization Overview
Fleming-Mason Energy Cooperative Inc is located in Flemingsburg, 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, Fleming-Mason Energy Cooperative Inc employed 54 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fleming-Mason 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, Fleming-Mason Energy Cooperative Inc generated $79.5m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $79.5m during the year ending 12/2021. While expenses have increased by 1.1% 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 ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF 25,235.
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 25,235 CONSUMERS MONTHLY.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Joni Hazelrigg President & CEO | Officer | 40 | $179,594 |
Rick Hord Director | Trustee | 20 | $21,861 |
Tom Saunders Chairman | OfficerTrustee | 6 | $21,653 |
John Roe Vice-Chair | Trustee | 20 | $21,191 |
Regina Rose Director | Trustee | 5 | $20,788 |
Sandina Gooding Sec/treasurer | OfficerTrustee | 10 | $16,745 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
W A Kendall & Co Inc Row Clearing | 12/30/21 | $1,196,449 |
Protecterrallc Row Maintenance | 12/30/21 | $398,443 |
Bowlin Group Llc Line Construction | 12/30/21 | $913,230 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $1,077,100 |
| 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 | $1,077,100 |
| Total Program Service Revenue | $76,716,015 |
| Investment income | $109,454 |
| 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 | $79,467,396 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $12,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,316,084 |
| Compensation of current officers, directors, key employees. | $306,386 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,054,881 |
| Pension plan accruals and contributions | $855,046 |
| Other employee benefits | $639,759 |
| Payroll taxes | $314,229 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $26,494 |
| Fees for services: Accounting | $17,225 |
| 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 | $236,163 |
| 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 | $914,281 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,010,469 |
| Insurance | $212,805 |
| All other expenses | -$4,912,357 |
| Total functional expenses | $79,467,396 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $597,740 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,600,547 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $490,711 |
| Prepaid expenses and deferred charges | $220,449 |
| Net Land, buildings, and equipment | $73,782,573 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $56,123,626 |
| Intangible assets | $0 |
| Other assets | $852,037 |
| Total assets | $142,667,683 |
| Accounts payable and accrued expenses | $8,404,470 |
| 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 | $46,216,962 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,878,159 |
| Total liabilities | $69,499,591 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $249,880 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$2,626,727 |
| Retained earnings, endowment, accumulated income, or other funds | $75,544,939 |
| Total liabilities and net assets/fund balances | $142,667,683 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Fleming-Mason Energy Cooperative Inc has recieved totaling $20,123.
| Awarding Organization | Amount |
|---|---|
Mountain Association For Community Economic Development Inc Berea, KY PURPOSE: Energy efficient retrofits | $20,123 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Old Dominion Electric Cooperative Glen Allen, VA | $2,169,039,010 | $801,442,287 |
Buckeye Power Inc Columbus, OH | $1,739,976,540 | $814,420,643 |
Wabash Valley Power Association Inc Indianapolis, IN | $1,308,025,251 | $757,452,533 |
Northern Virginia Electric Co-Op Manassas, VA | $1,071,859,351 | $676,666,779 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Rappahannock Electric Cooperative Fredericksburg, VA | $1,043,159,165 | $419,807,187 |
Midcontinent Independent System Operator Inc Carmel, IN | $2,446,006,704 | $407,489,988 |
South Central Power Company Lancaster, OH | $695,490,462 | $352,992,911 |
Cumberland Electric Membership Corp Clarksville, TN | $559,882,187 | $327,722,843 |
Volunteer Energy Cooperative Decatur, TN | $369,462,846 | $270,037,507 |