Pennyrile Rural Electric Cooperative Corporation is located in Hopkinsville, KY. The organization was established in 1965. 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 06/2022, Pennyrile Rural Electric Cooperative Corporation employed 122 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Pennyrile 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 06/2022, Pennyrile Rural Electric Cooperative Corporation generated $141.7m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $135.8m during the year ending 06/2022. While expenses have increased by 1.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
SALE OF ELECTRICITY TO MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
UTILITY SYSTEMS PROGRAMS: SALE OF ELECTRICITY TO MEMBERS
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Alan Gates President/ceo | Officer | 65 | $273,147 |
Robert C Standard Line Foreman | 83 | $205,999 | |
Sandy Grogan Vice President Finance & Accounting | Officer | 60 | $151,839 |
Brent Gilkey Vice President Member Services & Communication | Officer | 60 | $145,895 |
William Stokes VP Operations | Officer | 60 | $136,406 |
Philip Adler Lineman | 58 | $134,698 |
Vendor Name (Service) | Service Year | Compensation |
---|---|---|
A And G Tree Service Right Of Way | 6/29/22 | $4,980,299 |
Fiberrise Communications Inc Fiber Contractors | 6/29/22 | $5,174,439 |
Davis Elliot Company Inc Line Constr. Contractors | 6/29/22 | $3,922,931 |
Beaver Tree Service Right Of Way | 6/29/22 | $665,439 |
Broadband Of Indiana Broadband | 6/29/22 | $613,700 |
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 | $138,638,165 |
Investment income | $732,739 |
Tax Exempt Bond Proceeds | $0 |
Royalties | $0 |
Net Rental Income | $2,084,557 |
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 | $141,666,611 |
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 | $0 |
Compensation of current officers, directors, key employees. | $792,766 |
Compensation of current officers, directors, key employees. | $0 |
Compensation to disqualified persons | $0 |
Other salaries and wages | $5,283,552 |
Pension plan accruals and contributions | $1,415,015 |
Other employee benefits | $1,235,105 |
Payroll taxes | $446,888 |
Fees for services: Management | $0 |
Fees for services: Legal | $67,882 |
Fees for services: Accounting | $32,745 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $0 |
Fees for services: Other | $0 |
Advertising and promotion | $155,462 |
Office expenses | $522,400 |
Information technology | $322,894 |
Royalties | $0 |
Occupancy | $6,037,183 |
Travel | $138,808 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $20,339 |
Interest | $3,210,023 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $9,754,402 |
Insurance | $467,721 |
All other expenses | $0 |
Total functional expenses | $135,839,174 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $234,774 |
Savings and temporary cash investments | $54,695,463 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $12,572,827 |
Loans from Officers, Directors, or Controlling Persons | $0 |
Loans from Disqualified Persons | $0 |
Notes and loans receivable | $1,394,380 |
Inventories for sale or use | $10,296,583 |
Prepaid expenses and deferred charges | $5,289,250 |
Net Land, buildings, and equipment | $184,050,147 |
Investments—publicly traded securities | $0 |
Investments—other securities | $2,085,919 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $1,606,025 |
Total assets | $272,225,368 |
Accounts payable and accrued expenses | $33,056,409 |
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 | $100,834,171 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $3,815,458 |
Total liabilities | $137,706,038 |
Net assets without donor restrictions | $0 |
Net assets with donor restrictions | $0 |
Capital stock or trust principal, or current funds | $1,213,070 |
Paid-in or capital surplus, or land, building, or equipment fund | $4,770,986 |
Retained earnings, endowment, accumulated income, or other funds | $128,535,274 |
Total liabilities and net assets/fund balances | $272,225,368 |
Organization Name | Assets | Revenue |
---|---|---|
East Kentucky Power Cooperative Inc Winchester, KY | $3,550,114,968 | $954,101,068 |
Middle Tennessee Electric Membership Corporation Murfreesboro, TN | $972,885,002 | $816,151,968 |
Old Dominion Electric Cooperative Glen Allen, VA | $2,169,039,010 | $801,442,287 |
Buckeye Power Inc Columbus, OH | $1,739,976,540 | $814,420,643 |
Wabash Valley Power Association Inc Indianapolis, IN | $1,308,025,251 | $757,452,533 |
Northern Virginia Electric Co-Op Manassas, VA | $1,071,859,351 | $676,666,779 |
Kenergy Corp Henderson, KY | $260,651,880 | $473,591,627 |
Rappahannock Electric Cooperative Fredericksburg, VA | $1,043,159,165 | $419,807,187 |
Midcontinent Independent System Operator Inc Carmel, IN | $2,446,006,704 | $407,489,988 |
South Central Power Company Lancaster, OH | $695,490,462 | $352,992,911 |
Cumberland Electric Membership Corp Clarksville, TN | $559,882,187 | $327,722,843 |
Volunteer Energy Cooperative Decatur, TN | $369,462,846 | $270,037,507 |