Licking Valley Rural Electric Co-Op Corporation
- Assets
- $77.3m
- Revenue
- $29.9m
- Investments
- $0.0
- Employees
- 52
- Location
- West Liberty, KY
- Founding
- 02/1943
- Data as of
- 12/2021
- EIN
- 61-0259922
Organization Overview
Licking Valley Rural Electric Co-Op Corporation is located in West Liberty, KY. The organization was established in 1943. 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, Licking Valley Rural Electric Co-Op Corporation employed 52 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Licking Valley Rural Electric Co-Op 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, Licking Valley Rural Electric Co-Op Corporation generated $29.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $29.9m during the year ending 12/2021. While expenses have increased by 0.8% 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 APPROXIMATELY 17,500 CONSUMERS MONTHLY.
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 17,540 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 |
|---|---|---|---|
Kerry K Howard General Manager/ceo | 40 | $141,722 | |
Sandra Bradley Accountant | 40 | $116,151 | |
Matthew S Harris Supervisor/construction | 40 | $106,507 | |
Christopher J Murphy General Superintendent | 40 | $103,707 | |
Tommy Hill Sec-Treasurer | OfficerTrustee | 5 | $7,200 |
Philip Williams Director | Trustee | 5 | $3,900 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bmc Right Of Way | 12/30/21 | $1,533,531 |
High Line Services Llc Line Construction | 12/30/21 | $401,284 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $563,488 |
| 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 | $563,488 |
| Total Program Service Revenue | $28,871,958 |
| Investment income | $29,417 |
| 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 | $29,906,609 |
| 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 | $1,750,622 |
| Compensation of current officers, directors, key employees. | $172,622 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,840,197 |
| Pension plan accruals and contributions | $274,834 |
| Other employee benefits | $1,146,495 |
| Payroll taxes | $228,117 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $22,819 |
| Fees for services: Accounting | $154,870 |
| 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 | $164,387 |
| 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 | $236,749 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,683,129 |
| Insurance | $201,342 |
| All other expenses | -$4,395,895 |
| Total functional expenses | $29,906,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $149,430 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,828,563 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $918,380 |
| Prepaid expenses and deferred charges | $204,864 |
| Net Land, buildings, and equipment | $49,476,910 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $19,756,726 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $77,334,873 |
| Accounts payable and accrued expenses | $2,973,065 |
| 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 | $29,949,382 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,478,248 |
| Total liabilities | $38,400,695 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $222,715 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$490,978 |
| Retained earnings, endowment, accumulated income, or other funds | $39,202,441 |
| Total liabilities and net assets/fund balances | $77,334,873 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Licking Valley Rural Electric Co-Op Corporation has recieved totaling $5,150.
| Awarding Organization | Amount |
|---|---|
Mountain Association For Community Economic Development Inc Berea, KY PURPOSE: Energy efficient retrofits | $5,150 |
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 |