South Kentucky Rural Electric Cooperative Corp

Organization Overview

South Kentucky Rural Electric Cooperative Corp is located in Somerset, 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 12/2021, South Kentucky Rural Electric Cooperative Corp employed 146 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. South Kentucky Rural Electric Cooperative Corp 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, South Kentucky Rural Electric Cooperative Corp generated $141.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.4% each year. All expenses for the organization totaled $141.4m during the year ending 12/2021. While expenses have increased by 0.4% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

PROVIDE ELECTRICITY TO MEMBER OWNERS ON A PATRONAGE BASIS. SERVE AN AVERAGE OF APPROXIMATELY 69,713 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 69,713 CONSUMERS MONTHLY.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Goss Samford
Legal
$108,771
Bmc Contracting
Bushhogging
$100,926
Goss Samford
Legal
$108,771
Bmc Contracting
Bushhogging
$100,926
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $3,087,600
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$3,087,600
Total Program Service Revenue$131,855,897
Investment income $1,007,399
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $14,696
Net Gain/Loss on Asset Sales -$177,821
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $141,398,452

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