Kenergy Corp
- Assets
- $321.6m
- Revenue
- $347.3m
- Investments
- $0.0
- Employees
- 135
- Location
- Henderson, KY
- Founding
- 08/1999
- Data as of
- 12/2023
- EIN
- 61-1345109
Organization Overview
Kenergy Corp is located in Henderson, KY. The organization was established in 1999. 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 12/2023, Kenergy Corp employed 135 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kenergy 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 12/2023, Kenergy Corp generated $347.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $347.6m during the year ending 12/2023. While expenses have increased by 0.1% 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY AND RELIABLE ELECTRIC SERVICE TO MEMBERS AT COST ON A COOPERATIVE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING ELECTRIC ENERGY TO OUR MEMBERS ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. THERE WERE 59,510 ACTIVE SERVICES AT YEAR END.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jonathan Ayer Vice Chairman | OfficerTrustee | 6 | $12,100 |
Richard Basham Director | Trustee | 8 | $13,800 |
Susan Blanford Director | Trustee | 4 | $15,300 |
Larry Elder Director | Trustee | 8 | $14,100 |
Ryan Hammack Director | Trustee | 8 | $12,900 |
Michael Hazelwood Director | Trustee | 4 | $13,500 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Dycom Industries Inc Fiber Install | 12/30/23 | $12,640,013 |
Halter Tree Service Inc Tree Trimming | 12/30/23 | $5,684,116 |
Conexon Llc Fiber Management/design | 12/30/23 | $5,313,884 |
Mdr Construction Inc Fiber Make Ready | 12/30/23 | $4,130,003 |
Vonalas Inc Fiber Install | 12/30/23 | $1,754,109 |
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 | $344,126,401 |
| Investment income | $310,227 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $1,692,750 |
| Net Gain/Loss on Asset Sales | $231,078 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $347,286,846 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $38,317 |
| 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. | $2,206,772 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,637,496 |
| Pension plan accruals and contributions | $1,083,631 |
| Other employee benefits | $1,370,904 |
| Payroll taxes | $547,967 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| 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 | $4,208,342 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $14,812,004 |
| Insurance | $0 |
| All other expenses | $1,372,288 |
| Total functional expenses | $347,606,641 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,413,796 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $21,843,209 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $25,609,043 |
| Prepaid expenses and deferred charges | $684,767 |
| Net Land, buildings, and equipment | $252,035,024 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $6,189,841 |
| Intangible assets | $0 |
| Other assets | $13,780,119 |
| Total assets | $321,555,799 |
| Accounts payable and accrued expenses | $45,642,402 |
| 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 | $183,258,572 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $7,387,679 |
| Total liabilities | $236,288,653 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $233,190 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $85,033,956 |
| Total liabilities and net assets/fund balances | $321,555,799 |
Grants Awarded
Over the last fiscal year, Kenergy Corp has awarded $12,145 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
OHIO COUNTY FOOD PANTRY PURPOSE: COMPANY MATCH | $6,625 |
KENERGY OPERATION ROUNDUP INC PURPOSE: CONTRIBUTION & COMPANY MATCH | $5,520 |