Nolin Rural Electric Cooperative Corporation
- Assets
- $173.6m
- Revenue
- $102.9m
- Investments
- $0.0
- Employees
- 107
- Location
- Elizabethtown, KY
- Founding
- 10/1940
- Data as of
- 12/2022
- EIN
- 61-0294540
Organization Overview
Nolin Rural Electric Cooperative Corporation is located in Elizabethtown, KY. The organization was established in 1940. 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, Nolin Rural Electric Cooperative Corporation employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nolin 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 12/2022, Nolin Rural Electric Cooperative Corporation generated $102.9m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.4% each year. All expenses for the organization totaled $102.9m during the year ending 12/2022. While expenses have increased by 2.1% 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
PROVIDE ELECTRIC SERVICE ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF 36,794 CONSUMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC SERVICE ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF 36,794 CONSUMERS.
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 |
|---|---|---|---|
David Brown Chairman | OfficerTrustee | 5.14 | $20,783 |
Gene Straney Vice Chairman | OfficerTrustee | 5.53 | $19,800 |
Al Rosenberger Sec/treas | OfficerTrustee | 5.28 | $19,746 |
Lawrence Ireland Director | Trustee | 3.11 | $18,536 |
Linda Grimes Director | Trustee | 8.36 | $27,183 |
Raymond Thomas Director | Trustee | 8.76 | $22,783 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Russmar Utility Management Equipment | 12/30/22 | $749,958 |
Envision Energy Services Power Solutions | 12/30/22 | $308,988 |
Whayne Supply Company Equipment | 12/30/22 | $256,469 |
Phillips Brothers Construction Construction | 12/30/22 | $244,425 |
Quality Resources Equipment | 12/30/22 | $240,157 |
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 | $91,878,800 |
| Investment income | $743,998 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,857 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $102,908,461 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $21,700 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $13,307,225 |
| Compensation of current officers, directors, key employees. | $353,717 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $8,144,236 |
| Pension plan accruals and contributions | $2,013,525 |
| Other employee benefits | $1,403,007 |
| Payroll taxes | $2,226,836 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $76,497 |
| Fees for services: Accounting | $22,000 |
| 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 | $155,987 |
| 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 | $2,248,655 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,843,756 |
| Insurance | $249,391 |
| All other expenses | -$11,418,014 |
| Total functional expenses | $102,908,461 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,964,991 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $11,661,886 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,712,004 |
| Inventories for sale or use | $1,600,750 |
| Prepaid expenses and deferred charges | $10,704 |
| Net Land, buildings, and equipment | $77,124,972 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $52,502,459 |
| Intangible assets | $0 |
| Other assets | $30,682 |
| Total assets | $173,608,448 |
| Accounts payable and accrued expenses | $9,261,344 |
| 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 | $60,236,029 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $11,272,096 |
| Total liabilities | $80,769,469 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $252,920 |
| Paid-in or capital surplus, or land, building, or equipment fund | -$1,388,302 |
| Retained earnings, endowment, accumulated income, or other funds | $93,974,361 |
| Total liabilities and net assets/fund balances | $173,608,448 |