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 12/2023, Licking Valley Rural Electric Co-Op Corporation employed 43 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 12/2023, Licking Valley Rural Electric Co-Op Corporation generated $34.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $34.3m during the year ending 12/2023. While expenses have increased by 2.2% 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 APPROXIMATELY 17,728 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 17,728 CONSUMERS MONTHLY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Darrell Cundiff President | OfficerTrustee | 5 | $3,600 |
Ted Holbrook Vice President | OfficerTrustee | 5 | $3,600 |
Tommy Hill Sec-Treasurer | OfficerTrustee | 5 | $7,200 |
Philip Williams Director | Trustee | 5 | $3,600 |
J Frank Porter Director | Trustee | 5 | $3,600 |
Kevin Howard Director | Trustee | 5 | $3,600 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
Bmc Contracting Llc Right Of Way | 12/30/23 | $2,218,549 |
High Line Services Llc Line Construction | 12/30/23 | $704,865 |
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 | $33,432,950 |
Investment income | $51,360 |
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 | $34,304,644 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $8,000 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | -$753,994 |
Compensation of current officers, directors, key employees. | $247,385 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $2,948,074 |
Pension plan accruals and contributions | $298,710 |
Other employee benefits | $1,084,722 |
Payroll taxes | $238,420 |
Fees for services: Management | $0 |
Fees for services: Legal | $46,916 |
Fees for services: Accounting | $161,781 |
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 | $191,857 |
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 | $1,656,482 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $2,882,776 |
Insurance | $254,431 |
All other expenses | -$4,659,176 |
Total functional expenses | $34,304,644 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $279,875 |
Savings and temporary cash investments | $1,221,923 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $6,822,400 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $1,149,650 |
Prepaid expenses and deferred charges | $551,350 |
Net Land, buildings, and equipment | $52,676,114 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $20,327,316 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $83,028,628 |
Accounts payable and accrued expenses | $3,807,527 |
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 | $32,190,213 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $7,925,862 |
Total liabilities | $43,923,602 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $226,975 |
Paid-in or capital surplus, or land, building, or equipment fund | -$1,513,122 |
Retained earnings, endowment, accumulated income, or other funds | $40,391,173 |
Total liabilities and net assets/fund balances | $83,028,628 |