East Kentucky Power Cooperative Inc
- Assets
- $3.6b
- Revenue
- $954.1m
- Investments
- $13.8m
- Employees
- 810
- Location
- Winchester, KY
- Founding
- 10/1958
- Data as of
- 12/2021
- EIN
- 61-0461919
Organization Overview
East Kentucky Power Cooperative Inc is located in Winchester, KY. The organization was established in 1958. 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, East Kentucky Power Cooperative Inc employed 810 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. East Kentucky Power 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 12/2021, East Kentucky Power Cooperative Inc generated $954.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $943.6m during the year ending 12/2021. While expenses have increased by 1.6% 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
EAST KENTUCKY POWER COOPERATIVE EXISTS TO SERVE ITS MEMBER-OWNED COOPERATIVES BY SAFELY DELIVERING RELIABLE, AFFORDABLE AND SUSTAINABLE ENERGY AND RELATED SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EAST KENTUCKY POWER COOPERATIVE EXISTS TO SERVE ITS MEMBER-OWNED COOPERATIVES BY SAFELY DELIVERING RELIABLE, AFFORDABLE AND SUSTAINABLE ENERGY AND RELATED SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Director, Effective September 2021 | Trustee | 14 | $7,200 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Davis H Elliot Construction Company Inc Construction | 12/30/21 | $4,304,844 |
Evaptech Inc Design And Engineering | 12/30/21 | $6,486,683 |
Charah Llc Construction | 12/30/21 | $4,421,716 |
Burns & Mcdonnell Engineering Company Inc Design And Engineering | 12/30/21 | $4,266,015 |
Ryan Incorporated Central Construction | 12/30/21 | $3,540,100 |
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 | $952,623,146 |
| Investment income | $554,039 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $164,759 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $954,101,068 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $20,650 |
| Grants and other assistance to domestic individuals. | $1,250 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $5,618,414 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $66,732,003 |
| Pension plan accruals and contributions | $12,446,504 |
| Other employee benefits | $11,502,360 |
| Payroll taxes | $5,745,780 |
| Fees for services: Management | $362,812 |
| Fees for services: Legal | $1,767,269 |
| Fees for services: Accounting | $267,251 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $8,147,836 |
| Advertising and promotion | $1,418,892 |
| Office expenses | $19,868,517 |
| Information technology | $1,295,544 |
| Royalties | $0 |
| Occupancy | $13,785,838 |
| Travel | $2,448,566 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,541 |
| Interest | $87,398,809 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $141,799,803 |
| Insurance | $1,789,824 |
| All other expenses | $20,799,105 |
| Total functional expenses | $943,558,984 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $74,367,558 |
| Savings and temporary cash investments | $95,251,486 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $111,781,853 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $306,928 |
| Inventories for sale or use | $124,850,349 |
| Prepaid expenses and deferred charges | $119,786,179 |
| Net Land, buildings, and equipment | $2,988,005,333 |
| Investments—publicly traded securities | $20,000,628 |
| Investments—other securities | $13,820,030 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,944,624 |
| Total assets | $3,550,114,968 |
| Accounts payable and accrued expenses | $135,856,726 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $1,400,000 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $2,368,194,322 |
| Unsecured mortgages and notes payable | $160,000,000 |
| Other liabilities | $117,206,229 |
| Total liabilities | $2,782,657,277 |
| 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 | $767,457,691 |
| Total liabilities and net assets/fund balances | $3,550,114,968 |
Grants Awarded
Over the last fiscal year, East Kentucky Power Cooperative Inc has awarded $55,579 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Lexington, KY PURPOSE: Programming sponsorship. | $20,000 |
Mckee, KY PURPOSE: Donation for general support. | $20,000 |
East Moline, IL PURPOSE: Donation for general support. | $10,000 |
Las Vegas, NV | | $5,579 |
Peer Organizations
| 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 |