Bluegrass Energy Cooperative Corp
- Assets
- $301.0m
- Revenue
- $133.1m
- Investments
- $0.0
- Employees
- 107
- Location
- Nicholasville, KY
- Founding
- 07/2002
- Data as of
- 12/2021
- EIN
- 43-1948188
Organization Overview
Bluegrass Energy Cooperative Corp is located in Nicholasville, KY. The organization was established in 2002. According to its NTEE Classification (Y22) the organization is classified as: Local Benevolent Life Insurance Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Bluegrass Energy Cooperative Corp employed 107 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Bluegrass Energy 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, Bluegrass Energy Cooperative Corp generated $133.1m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.2% each year. All expenses for the organization totaled $133.1m during the year ending 12/2021. While expenses have increased by 0.2% 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
SINCE 1937, BLUE GRASS ENERGY HAS BEEN MAKING LIFE BETTER, THE COOPERATIVE WAY, FOR OUR MEMBERS AND COMMUNITIES BY PROVIDING SAFE, RELIABLE, AND AFFORDABLE ENERGY SERVICES. ELECTRICITY IS DELIVERED ON A COOPERATIVE BASIS THROUGH THE ALLOCATION OF PATRONAGE CAPITAL. TODAY, BLUE GRASS ENERGY SERVES OVER 61,000 MEMBERS IN 23 KENTUCKY COUNTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISTRIBUTION SALES OF ELECTRICITY ON A PATRONAGE BASIS TO A MONTHLY AVERAGE OF APPROXIMATELY 61,000 CONSUMERS.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Williams President/ceo | Officer | 50 | $390,110 |
Greg Harrington VP Engineering | Officer | 50 | $194,427 |
Charles G Williamson III CFO | Officer | 50 | $184,291 |
Beonka Stockton VP Administration | 50 | $145,071 | |
Ray Searcy Line Superintendent | 50 | $136,113 | |
James Mike Rainey Crew Chief | 50 | $131,975 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Wright Tree Service Row Clearing | 12/30/21 | $2,346,160 |
Wa Kendall Row Clearing | 12/30/21 | $1,616,853 |
The Davey Tree Expert Co Row Clearing | 12/30/21 | $923,937 |
Southeast Power Corp Power Line Construction | 12/30/21 | $2,247,877 |
Davis H Elliott Power Line Construction | 12/30/21 | $1,179,699 |
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 | $129,648,880 |
| Investment income | $196,385 |
| 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 | $133,079,977 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $15,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $6,099,774 |
| Compensation of current officers, directors, key employees. | $935,778 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $7,359,009 |
| Pension plan accruals and contributions | $1,533,926 |
| Other employee benefits | $1,607,515 |
| Payroll taxes | $618,454 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $27,587 |
| Fees for services: Accounting | $16,450 |
| 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 | $569,622 |
| 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 | $3,030,769 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $10,994,539 |
| Insurance | $401,993 |
| All other expenses | -$9,791,118 |
| Total functional expenses | $133,079,977 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,581,622 |
| Savings and temporary cash investments | $4,000,000 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10,333,347 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,080,231 |
| Prepaid expenses and deferred charges | $633,202 |
| Net Land, buildings, and equipment | $183,630,662 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $85,183,097 |
| Intangible assets | $0 |
| Other assets | $8,566,588 |
| Total assets | $301,008,749 |
| Accounts payable and accrued expenses | $12,664,743 |
| 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 | $115,528,115 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $13,577,297 |
| Total liabilities | $141,770,155 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,143,488 |
| Paid-in or capital surplus, or land, building, or equipment fund | $620,984 |
| Retained earnings, endowment, accumulated income, or other funds | $157,474,122 |
| Total liabilities and net assets/fund balances | $301,008,749 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Bluegrass Energy Cooperative Corp Nicholasville, KY | $301,008,749 | $133,079,977 |
Jackson County Rural Electric Membership Corporation Brownstown, IN | $193,096,068 | $63,444,068 |
Clay County Rural Telephone Cooperative Inc Cloverdale, IN | $69,919,802 | $27,562,208 |
Knox Energy Cooperative Association Inc Canton, OH | $7,178,282 | $23,919,726 |
Heartland Rural Electric Membership Corporation Markle, IN | $157,490,377 | $23,868,084 |
Citizens Telephone Cooperative Floyd, VA | $51,526,560 | $17,586,773 |
Fulton County Rural Electric Membership Corporation Rochester, IN | $29,622,941 | $14,789,521 |
Tele-Media Solutions Pekin, IN | $15,249,917 | $5,699,171 |
Mulberry Cooperative Telephone Company Incorporated Mulberry, IN | $26,134,752 | $5,202,012 |
West Laurel Water Association London, KY | $7,194,602 | $2,712,671 |
Consumers Gas Cooperative Orrville, OH | $13,291,217 | $2,827,990 |
Bright Energy Inc Mt Gilead, OH | $5,001,280 | $2,472,484 |