Meade County Rural Electric Cooperative Corporation is located in Brandenburg, KY. The organization was established in 1938. 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, Meade County Rural Electric Cooperative Corporation employed 84 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Meade County Rural Electric Cooperative 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, Meade County Rural Electric Cooperative Corporation generated $56.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $56.1m during the year ending 12/2021. While expenses have increased by 2.6% 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 30,500 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 30,500 CONSUMERS MONTHLY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Martin Littrel President/ceo | Officer | 50 | $230,287 |
David Poe VP Engineering & Operation | Officer | 50 | $178,942 |
Anna Swanson CFO | Officer | 50 | $144,185 |
David Pace Vp, Public Relations & Mkt | 50 | $117,791 | |
Michael French System Engineer | 45 | $116,516 | |
Todd Blackburn Marketing And External Affairs Manager | 45 | $110,515 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
The Townsend Corporation Row Clearing | 12/30/21 | $2,094,906 |
M&m Electrical Contractor Power Line Construction | 12/30/21 | $487,136 |
Service Electric Company Substation Construction | 12/30/21 | $441,088 |
Aubrey Silvey Enterprises Substation | 12/30/21 | $228,226 |
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 | $55,555,313 |
Investment income | $110,246 |
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 | $56,068,538 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $0 |
Grants and other assistance to domestic individuals. | $0 |
Grants and other assistance to Foreign Orgs/Individuals | $0 |
Benefits paid to or for members | $1,866,668 |
Compensation of current officers, directors, key employees. | $621,505 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $4,667,930 |
Pension plan accruals and contributions | $691,524 |
Other employee benefits | $663,633 |
Payroll taxes | $381,628 |
Fees for services: Management | $0 |
Fees for services: Legal | $22,856 |
Fees for services: Accounting | $17,300 |
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 | $141,898 |
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 | $1,977,953 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $4,614,571 |
Insurance | $175,336 |
All other expenses | -$5,511,077 |
Total functional expenses | $56,068,538 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $8,572,689 |
Savings and temporary cash investments | $8,716,869 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $5,401,708 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $0 |
Inventories for sale or use | $874,255 |
Prepaid expenses and deferred charges | $850,743 |
Net Land, buildings, and equipment | $88,093,380 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $2,320,878 |
Intangible assets | $0 |
Other assets | $26,025 |
Total assets | $114,856,547 |
Accounts payable and accrued expenses | $4,626,814 |
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 | $67,194,659 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $4,880,635 |
Total liabilities | $76,702,108 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $61,160 |
Paid-in or capital surplus, or land, building, or equipment fund | -$365,695 |
Retained earnings, endowment, accumulated income, or other funds | $38,458,974 |
Total liabilities and net assets/fund balances | $114,856,547 |
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 |