Jackson Purchase Energy Corporation is located in Paducah, KY. The organization was established in 1939. 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, Jackson Purchase Energy Corporation employed 73 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Jackson Purchase Energy Corporation 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, Jackson Purchase Energy Corporation generated $68.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $68.1m during the year ending 12/2021. While expenses have increased by 1.3% 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
DISTRIBUTION SALES OF ELECTRICITY TO APPROXIMATELY 30,378 MEMBER OWNERS ON A PATRONAGE BASIS.
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 30,378 MEMBERS ON A MONTHLY BASIS.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Greg Grisson President & CEO | Officer | 45 | $332,141 |
Jeff Williams VP Of Accounting And CFO | Officer | 45 | $178,911 |
Ward Morgan VP Technical Services | Officer | 45 | $152,276 |
James Eric Todd Line Technician | 50 | $146,906 | |
Jason Gipson Substation Crew Leader | 50 | $144,469 | |
Michael Washam Line Technician | 50 | $143,106 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Cooperative Building Solutions Construction | 12/30/21 | $8,802,291 |
Davis H Elliott Power Line Construct | 12/30/21 | $1,756,437 |
Townsend Tree Service Row Clearing | 12/30/21 | $1,398,893 |
Quality Resources Llc Meter Inspections | 12/30/21 | $411,414 |
Groves Construction Construction | 12/30/21 | $448,195 |
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 | $67,543,464 |
Investment income | $54,377 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $0 |
Net Gain/Loss on Asset Sales | -$568,771 |
Net Income from Fundraising Events | $0 |
Net Income from Gaming Activities | $0 |
Net Income from Sales of Inventory | $0 |
Miscellaneous Revenue | $0 |
Total Revenue | $68,055,935 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $10,000 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $1,244,938 |
Compensation of current officers, directors, key employees. | $738,994 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $6,035,337 |
Pension plan accruals and contributions | $1,325,944 |
Other employee benefits | $894,767 |
Payroll taxes | $662,112 |
Fees for services: Management | $0 |
Fees for services: Legal | $124,086 |
Fees for services: Accounting | $22,250 |
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 | $115,408 |
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 | $1,808,503 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $6,694,286 |
Insurance | $310,660 |
All other expenses | -$11,633,399 |
Total functional expenses | $68,055,935 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $4,560,370 |
Savings and temporary cash investments | $0 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $5,514,191 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $2,202,404 |
Prepaid expenses and deferred charges | $429,607 |
Net Land, buildings, and equipment | $123,264,401 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $3,854,966 |
Intangible assets | $0 |
Other assets | $3,750,707 |
Total assets | $143,576,646 |
Accounts payable and accrued expenses | $5,456,450 |
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 | $80,604,178 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $7,131,307 |
Total liabilities | $93,191,935 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $106,210 |
Paid-in or capital surplus, or land, building, or equipment fund | $84,952 |
Retained earnings, endowment, accumulated income, or other funds | $50,193,549 |
Total liabilities and net assets/fund balances | $143,576,646 |
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 |