Fleming-Mason Energy Cooperative Inc
- Assets
- $151.1m
- Revenue
- $90.8m
- Investments
- $0.0
- Employees
- 52
- Location
- Flemingsburg, KY
- Founding
- 09/1942
- Data as of
- 12/2023
- 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 12/2023, Fleming-Mason Energy Cooperative Inc employed 52 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 12/2023, Fleming-Mason Energy Cooperative Inc generated $90.8m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.4% each year. All expenses for the organization totaled $90.8m during the year ending 12/2023. While expenses have increased by 2.4% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF 25,721.
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 25,721 CONSUMERS MONTHLY.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Tom Saunders Chairman | OfficerTrustee | 8 | $17,206 |
Sandina Gooding Sec/treasurer | OfficerTrustee | 6 | $16,206 |
Timothy S Eldridge Director | Trustee | 5 | $16,206 |
Rick Hord Director | Trustee | 8 | $20,206 |
John Roe Vice-Chair | OfficerTrustee | 10 | $22,206 |
Regina Rose Director | Trustee | 8 | $16,956 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Arborworks Llc Row Maintenance | 12/30/23 | $949,114 |
Bowlin Group Llc Line Construction | 12/30/23 | $894,077 |
Asplundah Tree Expert Co Row Maintenance | 12/30/23 | $473,959 |
Mclean Engineering Co Inc Engineering | 12/30/23 | $387,824 |
Protecterrallc Row Maintenance | 12/30/23 | $381,701 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $110,050 |
| 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 | $110,050 |
| Total Program Service Revenue | $88,630,218 |
| Investment income | $50,719 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $45,962 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $90,808,955 |
| 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 | $640,756 |
| Compensation of current officers, directors, key employees. | $282,169 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,966,284 |
| Pension plan accruals and contributions | $720,452 |
| Other employee benefits | $739,689 |
| Payroll taxes | $314,977 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $44,924 |
| Fees for services: Accounting | $12,950 |
| 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 | $258,329 |
| 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 | $2,117,486 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,300,200 |
| Insurance | $230,650 |
| All other expenses | -$4,813,108 |
| Total functional expenses | $90,808,955 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $674,612 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,144,262 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $758,650 |
| Prepaid expenses and deferred charges | $120,012 |
| Net Land, buildings, and equipment | $78,843,780 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $59,452,287 |
| Intangible assets | $0 |
| Other assets | $1,098,144 |
| Total assets | $151,091,747 |
| Accounts payable and accrued expenses | $7,888,436 |
| 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 | $50,180,619 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $14,149,992 |
| Total liabilities | $72,219,047 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $259,115 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$306,393 |
| Retained earnings, endowment, accumulated income, or other funds | $78,919,978 |
| Total liabilities and net assets/fund balances | $151,091,747 |