Jackson Purchase Energy Corporation
- Assets
- $156.7m
- Revenue
- $99.4m
- Investments
- $0.0
- Employees
- 75
- Location
- Paducah, KY
- Founding
- 12/1939
- Data as of
- 12/2022
- EIN
- 61-0236522
Organization Overview
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 12/2022, Jackson Purchase Energy Corporation employed 75 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 12/2022, Jackson Purchase Energy Corporation generated $99.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.0% each year. All expenses for the organization totaled $99.4m during the year ending 12/2022. While expenses have increased by 6.0% per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
DISTRIBUTION SALES OF ELECTRICITY TO APPROXIMATELY 30,459 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 30,459 MEMBERS ON A MONTHLY BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erick Harris Chairman | OfficerTrustee | 7.5 | $9,200 |
Jack Marshall Vice Chairman | OfficerTrustee | 7.5 | $8,650 |
Wayne Elliott Secretary Treas | OfficerTrustee | 7.5 | $7,200 |
Lee Bearden Director | Trustee | 7.5 | $9,750 |
David Brown Director | Trustee | 7.5 | $4,325 |
Joshua Barnes Director | Trustee | 7.5 | $7,200 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Townsend Tree Service Row Clearing | 12/30/22 | $4,479,978 |
Groves Construction Construction | 12/30/22 | $2,520,000 |
5 Star Electric Construction | 12/30/22 | $245,496 |
Allan & Hoshall Engineering Services | 12/30/22 | $247,861 |
Quality Resources Llc Meter Inspections | 12/30/22 | $580,857 |
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 | $98,095,892 |
| Investment income | $168,074 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $121,184 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $99,427,396 |
| 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 | $88,156 |
| Compensation of current officers, directors, key employees. | $551,714 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,017,738 |
| Pension plan accruals and contributions | $1,341,199 |
| Other employee benefits | $1,083,919 |
| Payroll taxes | $590,985 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $123,967 |
| Fees for services: Accounting | $22,920 |
| 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 | $156,842 |
| 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 | $2,218,080 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,066,167 |
| Insurance | $319,521 |
| All other expenses | -$9,242,685 |
| Total functional expenses | $99,427,396 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,044,605 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $7,784,977 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $3,289,347 |
| Prepaid expenses and deferred charges | $462,080 |
| Net Land, buildings, and equipment | $127,893,603 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $4,025,870 |
| Intangible assets | $0 |
| Other assets | $7,245,595 |
| Total assets | $156,746,077 |
| Accounts payable and accrued expenses | $9,611,439 |
| 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 | $87,560,183 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $9,287,933 |
| Total liabilities | $106,459,555 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $100,925 |
| Paid-in or capital surplus, or land, building, or equipment fund | $80,204 |
| Retained earnings, endowment, accumulated income, or other funds | $50,105,393 |
| Total liabilities and net assets/fund balances | $156,746,077 |