Clark Energy Cooperative Inc
- Assets
- $148.1m
- Revenue
- $58.0m
- Investments
- $0.0
- Employees
- 64
- Location
- Winchester, KY
- Founding
- 04/1942
- Data as of
- 12/2023
- EIN
- 61-0158153
Organization Overview
Clark Energy Cooperative Inc is located in Winchester, KY. The organization was established in 1942. 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, Clark Energy Cooperative Inc employed 64 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Clark 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 12/2023, Clark Energy Cooperative Inc generated $58.0m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 1.5% each year. All expenses for the organization totaled $58.0m during the year ending 12/2023. While expenses have increased by 1.5% per year over the past 9 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
PROVIDE DISTRIBUTION ELECTRIC SERVICE TO MEMBER OWNERS ON A PATRONAGE BASIS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE DISTRIBUTION SALES OF ELECTRICITY TO APPROXIMATELY 27,848 EACH MONTH TO MEMBER OWNERS ON A PATRONAGE BASIS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William P Shearer Chairman - Retired | OfficerTrustee | 2 | $6,000 |
Steve Hale Chairman | OfficerTrustee | 11 | $15,381 |
Oh Caudill Vice Chairman | OfficerTrustee | 5 | $29,184 |
Walter Ballard Director | Trustee | 4 | $15,711 |
Allen Patrick Asst. Secretary/treasurer | OfficerTrustee | 8 | $18,835 |
Dewey Hollon Director | Trustee | 8 | $12,300 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Davis H Elliot Line Work | 12/30/23 | $2,506,998 |
Cross Country Line Line Work | 12/30/23 | $132,109 |
The Davey Tree Expert Company Line Work | 12/30/23 | $572,062 |
Bmc Contracting Right Of Way | 12/30/23 | $129,272 |
Wakendall Right Of Way | 12/30/23 | $1,479,877 |
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 | $55,835,616 |
| Investment income | $36,462 |
| 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 | $57,995,331 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $18,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $83,890 |
| Compensation of current officers, directors, key employees. | $464,423 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $4,395,890 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $829,853 |
| Other employee benefits | $895,822 |
| Payroll taxes | $359,297 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $54,617 |
| Fees for services: Accounting | $32,975 |
| 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 | $255,116 |
| 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 | $2,040,301 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,097,440 |
| Insurance | $220,072 |
| All other expenses | -$4,034,671 |
| Total functional expenses | $57,995,331 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $137,939 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $2,636,077 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,470,855 |
| Prepaid expenses and deferred charges | $109,763 |
| Net Land, buildings, and equipment | $104,322,863 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $37,954,880 |
| Intangible assets | $0 |
| Other assets | $1,431,317 |
| Total assets | $148,063,694 |
| Accounts payable and accrued expenses | $988,976 |
| 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 | $65,111,153 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $12,453,758 |
| Total liabilities | $78,553,887 |
| 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 | -$1,673,355 |
| Retained earnings, endowment, accumulated income, or other funds | $71,183,162 |
| Total liabilities and net assets/fund balances | $148,063,694 |