Shelby Energy Cooperative Inc
- Assets
- $137.2m
- Revenue
- $58.0m
- Investments
- $3.8m
- Employees
- 46
- Location
- Shelbyville, KY
- Founding
- 04/1941
- Data as of
- 12/2022
- EIN
- 61-0337665
Organization Overview
Shelby Energy Cooperative Inc is located in Shelbyville, KY. The organization was established in 1941. 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, Shelby Energy Cooperative Inc employed 46 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Shelby Energy Cooperative Inc 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, Shelby Energy Cooperative Inc generated $58.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 3.0% each year. All expenses for the organization totaled $58.0m during the year ending 12/2022. While expenses have increased by 3.0% 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 TO MEMBER OWNERS ON A PATRONAGE BASIS. PROVIDE ELECTRIC SERVICE TO OVER 17,450 CONSUMERS MONTHLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS. PROVIDES ELECTRIC SERVICE TO OVER 17,450 CONSUMERS MONTHLY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Pat Hargadon Director | Trustee | 2 | $16,630 |
Ashley Chilton Chairman | OfficerTrustee | 2 | $15,600 |
Roger Taylor Sec/treas | OfficerTrustee | 2 | $15,800 |
Diana Arnold Director | Trustee | 2 | $16,580 |
Wayne Stratton Director | Trustee | 2 | $15,800 |
Jeffrey Joyce Director | Trustee | 2 | $15,800 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Davis H Elliot Construction/maintenance | 12/30/22 | $2,747,126 |
Wright Tree Service Row Clearing | 12/30/22 | $1,464,812 |
Power System Engineering Inc Engineering Consultants | 12/30/22 | $318,588 |
Parker Underground Distribution Plant Construction | 12/30/22 | $453,375 |
Protecterra Llc Row Spraying | 12/30/22 | $203,921 |
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 | $54,999,614 |
| Investment income | $41,665 |
| 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 | $57,952,933 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $6,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $2,707,550 |
| Compensation of current officers, directors, key employees. | $311,496 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,038,348 |
| Pension plan accruals and contributions | $241,055 |
| Other employee benefits | $339,300 |
| Payroll taxes | $161,464 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,002 |
| Fees for services: Accounting | $20,575 |
| 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 | $170,783 |
| 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 | $2,158,182 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,919,633 |
| Insurance | $132,870 |
| All other expenses | -$2,306,472 |
| Total functional expenses | $57,952,933 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,236,852 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,198,433 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,278,288 |
| Prepaid expenses and deferred charges | $315,560 |
| Net Land, buildings, and equipment | $91,167,919 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $3,834,837 |
| Investments—program-related | $30,891,127 |
| Intangible assets | $0 |
| Other assets | $2,301,132 |
| Total assets | $137,224,148 |
| Accounts payable and accrued expenses | $4,795,139 |
| 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 | $72,967,689 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $3,990,308 |
| Total liabilities | $81,753,136 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $55,471,012 |
| Total liabilities and net assets/fund balances | $137,224,148 |